Millionaire Habits: Invest, Save, and Focus on Your Goals

Adam Jackson

Updated on:

Millionaire Habits Invest, Save, and Focus on Your Goals

I’m not going to go back on my word. Remember I said earlier that we’d be talking about millionaire habits? Well, dear reader, that time has arrived.

Are you active on social media or, at the very least, aware of the world around you? If you are, you probably keep hearing about those real-life rags-to-riches stories where someone just like you defied the odds, beat the system, became a millionaire, and is now living the American Dream.

Isn’t that right? Well, I’m here to tell you that what you do from this point onward could be the next big story everyone else talks about.

You heard that right! You can turn your million-dollar lifestyle dream into a reality. When most people see or read about millionaires, the first and the most common thing they think is: “Work hard, Make money.” That right there, ladies and gentlemen, might be the essence of how to become rich.

But that’s not all you need to do to be a millionaire.

You see, a millionaire is someone who works hard to make money, then makes the money work even harder for them. But that still isn’t the full picture.

So, what’s the exact way to be a millionaire? Well, I’m not going to keep going around in circles. The answer you’re looking for, my young friend, is habits — millionaire habits.

We’ll talk about the habits that will help you become a millionaire. If you’ve been living a rockstar-type life until now, heads-up — you’re in for a little change.

Before I start telling you about the habits you must develop to become a millionaire, I want you to know that building these habits (and staying committed to them) will be a bit harder than the SATs.

But that’s not all. It’s something you have to do long term. It’s like a marathon, not a sprint.

I’m telling you all this before starting because I want you to be in the right head space for the life-changing events that will happen to you. And I’ve got news for you! You don’t need to break into a sweat over any of this.

Why, you ask? Well, that’s because I’m about to give you the blueprint to becoming a millionaire — right here, right now!

So, without further ado, let’s get started.

Set Your Goals and Get To Work

All right — the first thing you need to do to get started on the millionaire path is set your goals. Why? Well, because if you don’t have the right goals in mind, you don’t know where you’re going. And, if you have no clue where to go, how will you get there? So, with that in mind, let’s look at how you will set your goals the millionaire way.

Goals are the blueprint for success. They’ll determine where you want to go and what you must do to get there. So, before you set your goals, ask yourself several questions:

What Would Your Ideal Life Look Like?


The answer to this question, dear reader, will help you paint a picture of what lies ahead. So, there’s no need to rush this. Take your time and work out every little detail.

Will you have a vacation house in the Bahamas and a mansion in the city? Will you drive that Lambo, or will you be chauffeured to wherever you want to go in the back seat of a Bentley (or a Rolls Royce)? Will you have profitable investments in stocks and commodities, or will you be the chairman of the board of a multi-millionaire dollar business you built from the ground up? Work out all the details and then move on to the next question.

What Are Your Personal Finance Goals?

Think about your goals in terms of personal finances. How much money do you want to have? Do you want to make it rain? Or do you want to have enough to be set for life and take care of your spouse and children? Okay, maybe you’re a bit too young for the last part.

But you could still give it a quick thought and move to the next one.

Why Do You Want to Have Money?


This question right here is the most important one of all. It’s the big one — the why. It’s the purpose — your purpose. Why do you want to have so much money?

Do you want to live where an alarm (or an alarm app) doesn’t tell you when to wake up, and a paycheck doesn’t tell you what you can and can’t do?

Or do you want to be the one who just sees money as a tool to do whatever it takes to make life better for you and everyone around you? Your life, your way. Whatever you choose, be sure you know what your purpose is.

Ever heard of Chris Gardner? Chris is an American businessman and motivational speaker with a net worth of $70 million. But that’s not who Chris was since day one.

This story took place a bit before your time. But it can still teach you a thing or two, so hear me out. Back in the 1980s, Chris worked as a janitor in a brokerage as he struggled to raise a toddler. But he still had the million-dollar dream in his mind.

He struggled to learn all the complexities of stock trading as he lived in a shelter and on the streets with his son.

Chris eventually found himself a job as a trainee broker and began chasing his goal to create a better life for himself, his son, and anyone else he could do it for. Fast-forward to today — Chris owns a brokerage firm and is a well-known businessman and philanthropist.

Taking a lesson from his story, I can tell you that anything — and I mean anything — is possible. All it takes is some well-planned goals, the mindset, and an “I’m not going down that easy” attitude.

So, what you need to do right now is take out a piece of paper and a pen (or a No.2 pencil like your high school teacher tells you to) and write down the answer to all the questions we mentioned above.

Each of these questions is a goal. So, make a list and be as detailed as you can. You’re planning your millionaire life. So, don’t miss out on anything!

Increase Your Earnings

Now that you have all your goals sorted out, it’s time to focus on the next big thing: your earnings. I know they might not be so big right now (no offense), but they will be! As a teenager, you need to understand that your life, goals, and journey all start with money, so you must focus on how to increase your earnings.

When it comes to increasing earnings, most people think, “I don’t have any money right now,” which is the wrong mindset.

The whole “You need money to make money” has got you (and many others like you) running in circles. Well, dear reader, the truth is that you don’t really need money to make money. All you need are two things: willingness and ability.

You’re young right now, and that means you have a lot of time. I want you to use this time to learn and improve. I want you to learn valuable skills you can get paid for.

Once you have done that, life will be a piece of cake. How? Because you’ll be able to use these skills to find jobs and make some stable cash.

I’m not going to paint a false picture. Finding a job won’t be that easy — and keeping one will be even harder. But that’s where your “I am not going down easy” attitude comes into play.

But finding and working a job is only part of the solution. You’ll need to build the habit of saving the money you earn. We’ll get to how you’ll do that in a bit. For now, just know that you should save the money you earn.

Then, use it to buy the new iPhone or Xbox (just kidding — don’t do that). Use that money to start a side hustle you can turn into a business one day.

Why should you do that, you ask? Well, because you’ll never make it big on somebody else’s money, plain and simple. Let me explain.

When you work a job, you show up every day, you plan what to do, you do what needs to be done, and you get results. But you get paid the same amount each month.

Your company makes the most money. And that’s why you need to set up shop for yourself. But that’s not where you stop the whole “increase your earnings” thing.

No, no, no — that’s where you start. You can then use those earnings to invest, grow your business, buy real estate, and create passive income.

That is what millionaires like Grant Cordane do. You’ve probably seen this guy as you scroll through your Instagram feed (or TikTok).

When it comes to increasing your earnings, Grant believes in buying cash-flow real estate. Cash-flow real estate is commercial real estate that allows you to make a monthly profit off rent.

These properties are great because they allow you to earn passive income and are often easier to sell than a house.

That’s because when you sell a house, you need to find someone who can see themselves living there, but when you sell profitable commercial real estate, your ideal buyer is someone looking to make profits (and these people are far easier to find).

Save Toward Your Goals

Savings is one of the most important millionaire habits you need to develop and stay committed to. But the way millionaires save (and why they do it) is a bit different than what you might think.

If you’re someone who thinks that all you have to do to be a millionaire is earn money and save money, you only have part of the answer right. The trick to saving like a millionaire is to stay focused on your goals.

What I want you to do now is to go back to the goals you started this article with. If you haven’t calculated the monetary value of each, do that now.

You’ll need to know how much money you’ll need to achieve each of your goals. Next, figure out how much time it will take you to earn that much money.

Once you have done that, go ahead and divide your goals into three categories: short-term, mid-term, and long-term.

  • Short-term — These are goals you can achieve within three years.
  • Mid-term — These are goals you can achieve within ten years.
  • Long-term — These are goals you can achieve in a period a bit longer than ten years.

And now the millionaire factor: your savings won’t be enough. The hard truth is that you’ll never be able to become a millionaire with just savings alone.

Self-made millionaires like Barbara Corcoran and Grant Cardone believe that true wealth doesn’t come from savings. True wealth comes from investing.

Now, I know you’re probably wondering: If that’s the case, why are we talking about saving toward your goals?

Seems like a waste of time, doesn’t it? Well, it’s not, and that’s because I haven’t told you the secret part yet. One of your life goals needs to be investing, and that’s why saving is crucial.

When looking to find money to invest, your goal should be that the money you invest shouldn’t disrupt your lifestyle in any way.

You don’t want to invest $1000 and have to sacrifice a meal a day for like six months or so. That’s not the way things get done.

If you choose this approach, chances are you’ll end up losing motivation, and that’s something you don’t want to lose.

Why? Because if you lose motivation, you’ll develop a negative attitude toward the whole “millionaire habits” thing. And trust me, things go downhill from there. I’ve been there and done that, and trust me, you don’t want to go there.

And that is why saving money is important. It’s a sustainable approach. So, it allows you to do what it is you need to do now without having to compromise on what you want to do in the future.

So, one of the goals you save for needs to be investing. Now, on a side note, when you begin to invest, you must keep several things in mind.

  1. Figure out your risk tolerance before you start investing.
  2. Make your portfolio a great mix of stocks, bonds, and other assets.
  3. Never put all your eggs in one basket.

Spend Less Than You Earn

Now, let’s talk about another millionaire habit most people struggle with: spending less than you earn. I know you’re a bit young right now to grasp the extent of what I’m about to tell you.

But believe me, you need to hear this. The system is designed to keep you in debt. And this is the secret that not many people (hardly anyone) will tell you because either they haven’t figured it out themselves or aren’t ready for the questions that will come afterward.

Today, you can go out, swipe your card or take a loan, and buy anything you want. But, if you do, you’ll be stuck in debt you have to pay.

So, here’s a question I want you to ask yourself: Is money the only price you’re paying for the item? Or is the millionaire lifestyle you wish to achieve a part of the price?

You see, every cent you pay to get out of this debt trap is a cent that will prevent you from achieving the million-dollar dream.

Do you really want that?

Of course not, right? Well, in that case, beware of this systematic buy-now-pay-later trap. It won’t make you rich. It’ll just make the rich even richer.

Since we’re already talking about spending less than you earn, another thing you want to avoid is expensive items.

There’s a difference between being rich and looking rich, and the expensive items making you look rich are actually making you poor. Sharing his thoughts on the matter, here’s what Robert Kiyosaki has to say:

“Rich people buy luxuries last, while the poor and middle class tend to buy luxuries first.”

So, the next time you have to make a buying decision, ask yourself something I call the value question. This is something that I do quite often, and it has helped me make some exceptional decisions. I’m certain it will do the same for you. So, what is the value question?

Well, it’s pretty straightforward. The next time you feel like you have to buy something, ask yourself: Does it add value? It’s a simple question, but do you know what it really means? No?

When something adds value to your life, it makes your life better. But here’s the catch: Many expensive things can make life better but are done for the time being or for the long run.

Let’s say you want to buy the new Xbox. Sure, it will make your life better for the next little while. You could play all the new games, invite friends over, order some pepperoni pizzas, and have a blast.

But every moment you spend doing that is a moment that could have been spent turning your million-dollar dream into a reality.

So, I ask you again: Does the Xbox add value to your life? I’m guessing your answer has changed. If it has, then you’re already on the right path, and buying decisions will be so much easier. Don’t believe me? Try it out when you’re done reading this article.

Focus on Your Goals and Future

Now, let’s move on to the last (and probably the most important) millionaire habit: Focus on Your Future and Goals. People don’t just become millionaires by working hard and saving money.

You need to have a concrete habit of thinking in terms of your goal to become a millionaire. What do I mean when I say that? Well, to be a millionaire, each decision you make should propel you toward your goals.

If you are scratching your head about how you’ll do that, let me help you out a little bit. Every time you’re faced with a decision to make, consider whether doing that thing will bring you one step closer to your goals or push you ten steps back. This way, you’ll always make the right decision.

This simple little strategy right here will help you stay focused on your goals and is exactly what will help you avoid instant gratification.

I know you heard this phrase before. But the ugly truth about instant gratification is that it doesn’t last. And when this moment ends, you’re left with regret and a loss of focus and motivation.

I know you’ve experienced this because I did when I was your age. How will you fix this problem, you ask? The solution is simple: Don’t give up what you want the most for what you want right now.

And with that, dear reader, we’ve reached the end of our journey. The lesson I want you to take away from this article is that you must focus on developing millionaire habits to be a millionaire.

Ask yourself what your ideal life looks like, how much money you want to have, and why you want that much money.

Then, figure out ways to start earning, but don’t stop there. Keep increasing your income. The first few steps will be hard, but I promise you this is a battle you’ll be able to win once you’ve built momentum.

Don’t spend all you make. Save for rainy days, for your goals, for investing, for starting a business, and more.

Don’t fall for the system that’s been designed to keep you in debt. Keep your focus on your goals, and before you know it, you’ll be a millionaire!

See you then.

Leave a Comment