Lead-Lag Live: Millionaire Habits

Investing isn’t about buying on Monday and selling on Friday. It’s about building lasting wealth. The ultra-wealthy have developed a number of strategies and habits that allow them to do so, even during a slow economy.

Understanding how to build wealth is important. But so is how to manage and how to enjoy it. These millionaire habits can be built at any income level. Making better decisions with your money is always a good habit to learn.

In today’s markets, it may also be the best investment to make now.

First, it’s crucial to understand what you want in life. Many fail to make any goals, which makes it impossible to budget and plan for those goals. It doesn’t help that many make career decisions in their teenage years, as they think about a college major and first job.

Many follow their passions, which tends to limit career opportunities. However, passions change. But those who follow their strengths can likely find a job matched to that strength more easily than following their passions.

Plus, passions usually show up in artistic endeavors, where there are a few big winners in the job market. But strengths can show up in analytical skills, which tend to result in many high-paying career opportunities.

Those who embrace their strengths can see a higher income, the first step towards developing a lifetime of wealth.

To listen to the full interview and learn the other millionaire habits, click here.