Well-Being//

You Need to Give Up These Toxic Habits if You Want to Be Wealthy and Successful

In order to take flight and become ultra-successful, you need to assess your extra baggage.


In order to take flight and become ultra-successful, you need to assess your extra baggage.

When it comes to our wealth and success, we tend to fixate on the things we need to acquire in the future to make those visions come alive. However there are also certain ingrained habits that might be dragging you down right now.

Because habits are so ingrained into our daily routines, it’s very likely that harmful ones are sneaking in and detracting from our success. That’s why the exceptionally successful know that what you don’t do is just as important as your actions.

The good news is that your toxic routines and mindsets can be kicked to the curb, starting today.

So start on your new journey today by giving up these seven things:

Impulsive emotional decisions

As the saying goes, “Don’t make a permanent decision out of a temporary emotion.”

In my many years in finance, I’ve seen people throw decades of financial planning out the window because of their feelings. And it’s very easy to do that in a stressful workplace, too.

When successful people find themselves in situations where they’re extremely angry, sad or frustrated, they let themselves ride out those emotions without acting on them. The simple act of waiting to make a decision until you’ve returned to a levelheaded state can play a huge role in the success you achieve.

Reliance on praise

Steve Jobs once said that “Self-confidence must come from within. Outside reinforcement and strokes can help, but you have to build your own confidence.”

Remember, no one can advocate for you or make it happen like you can. You have to be your own best cheerleader. You must believe in your own success, and this means that if the right opportunity doesn’t present itself, you should create your own opportunity.

Giving up

JK Rowling, who became a billionaire after brushing off hundreds of publisher rejections, once said, “It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all — in which case, you fail by default.”

Ultra-successful people don’t take ‘no’ for an answer. Instead, they find new ways to turn rejections into milestones. Do not be afraid to go for it!

Keep in mind that failure is a breeding ground for success and don’t give up. Be persistent and resilient enough to bounce back and try again. Each time you brush the dirt off your shoulders and try again, you’ll benefit from more experience.

Frivolous Consumerism

A study conducted among consumers who make over $100,000 a year reveals that, surprisingly, majority of them do not own luxury cars, and they shop at mainstream stores like Target and Walmart.

The reason being is that they recognize the value that long-term investing can have over frivolous spending. The one thing that virtually every millionaire and billionaire has in common is that they set aside wealth for an investment account. Quite simply, they value their long-term dreams and goals over a luxury watch.

If you’re struggling to give up overspending, consider the 20–30–50 Plan: spend 20 percent of your paycheck on investing (or paying off debt), 30 percent on fun and the other half on necessities (like rent).

Multitasking

A study out of the University of California, Berkeley, found that, on average, office workers go only 11 minutes between interruptions, while it can take up to 25 minutes to get into a state of productivity called flow.

That’s why giving up multitasking, and focusing all your energy on the important things, is vital for wealth creation. Valuing your time by thinking of it as money will motivate you to work diligently for what you are aiming for.

Dump the toxic waste

As Oprah Winfrey once said, “Surround yourself with only people who are going to lift you higher.”

Do you have a co-worker who makes your blood pressure rise? Stop thinking about them. Instead, think about the family and friends that you are grateful for and that bring you happiness instead — these are the people who are worth your time, energy, and brain space.

It’s tough to reevaluate your own situation; to look at your harmful characteristics takes a great deal of effort and courage. But everyone is human. See this as a chance to improve and create a better you, rather than being negative.

Self-doubt

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”Warren Buffett

You are unconsciously sabotaging your progress when you indulge in negativity. Your journey to success starts the moment you condition your brain to believe this is where you want to go. If you continue to believe otherwise, then you shouldn’t expect success to follow through.

By ditching these habits and replacing them with positive ones, you’ll be on the path towards exceptional success.

Call to action:

To see more tips on becoming wealthy, check out my firm LexION Capital’s website.

If you have any more things to give up to add to the roster, please leave a comment or give me a holler on Twitter!

Originally published at journal.thriveglobal.com

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