“Millionaire Habits” Are Financial Bullshit 🤦‍♂️

I see a lot of people falling for these 'millionaire daily routines,' believing they're the secret to unlocking the wealth they desire. The truth is, wealth is built from solid income, not from following trendy habits.

People fall for these ideas because they're searching for some kind of magic. Basically anything to avoid putting in real work.

They want an easy path with not much resistance to riches without the effort, so they latch onto the promise of 'millionaire habits,' hoping it will replace the need for hard work, consistency, focus, doing the boring things everyday and making smart financial decisions over a long period of time.

Example....

Take Jeff Bezos, for example. His daily ‘routine for success’ includes getting eight hours of sleep and reading the newspaper.

Do you really think following this ‘success routine’ will make you a billionaire?

Taking a cold shower at 4 AM won’t help you build wealth if you’re making £25,000 per year.

Some of these habits might help you “feel good” (and some won’t)-but they won’t MAKE you rich.

Building Wealth Is A Simple Equation

1. Increase the gap between your income and expenses

2. Reduce your consumer debts as much as you can

3. Aggressively INVEST the difference

4. Let compound interest do its thing.

It's about making smart financial choices, reducing bad debt as much as possible, spending less than you earn, and being patient as your investments grow over time.

No fancy habits or shortcuts—just basic maths and consistency.

It All Starts With Income

I don’t care how many Elon Musk biographies you read while meditating and eating your plant-based diet at 4 AM after your ice-cold shower.

If you make £3,000 per month and your rent alone is £1,700, you aren’t going to become a millionaire anytime soon.

Without a solid income and a bigger gap between earnings and expenses, all those 'millionaire habits' are just fluff.

You need to focus on boosting your income first. Only then can you start saving, investing, and truly building wealth. I know it's not glamorous, but it's the reality.

People Say You Should Practice Frugality As The Path To Wealth

But here’s an uncomfortable truth:

Frugality helps those with a solid income build wealth.

Frugality helps those with a low income scrape by.

When it comes to building wealth, it all starts with income. Without a strong income, frugality alone won’t get you to financial freedom.

A Solid Income + Actually Useful “Habits” + Patience = Wealth

Step 1, focus on your income. nothing else.

Once your income is comfortably above your cost of living, then and only then can you implement certain “habits” to become a millionaire.

By 'habits,' I mean following the basics of personal finance:

- Tracking your spending and cutting the fat.

- Creating a budget you'll actually stick to.

- Building an emergency fund.

- Paying off debt.

- Investing into index funds.

- Avoiding lifestyle inflation.

- Building a strong source of income.

- Automating your finances.

- Being patient.

- Having good credit.

These are the habits that those with a solid income can follow to build wealth and eventually become a millionaire.

What you’ll notice about all of these 'habits' is that they aren’t really habits at all. They are individual components of a well-coordinated financial plan to build wealth.

The best part?

None of these actions require you to live up to some impossible standard and become a weirdo.

If you automate £1,200 to move from your bank account to your investment account each month, it does not matter if you get up at 4 AM or 8 AM 🤦

Focus on increasing your income, build a financial plan, aggressively invest your income automate it as much as possible, and get on with living the life you want to live.

My Preferred Investments:

For Non-Entrepreneurial People:

Invest most of your salary into the 'S&P 500 Index Fund.' If you need help, reach out to me.

Allocate a small portion into Bitcoin.

For Entrepreneurial People:

- Focus on investing in starting your own business and nothing else.

You will need the money for marketing, advertising and building what you are doing.

Trying to invest money into the financial markets while building a business will only stretch your resources thin and distract you from your primary goal.

Building a successful business requires full financial commitment and focus. Every £££ you can spare should go into growing your business, developing your product, and advertising so you reach your target market.

Diverting your funds to other investments can hinder your progress and reduce your chances of success. Prioritise your business above all else during its critical growth phase.

Crypto Considerations:

Dipping into cryptocurrencies can potentially bring some insane returns in a short time, but be warned: you can also lose a lot or everything just as quickly.

Only invest in crypto altcoins and projects if you really know what you’re doing. You need a well-thought-out investment plan and strategy, along with a deep understanding of how the crypto market and cycles work.

You will need to follow the right people in the online crypto space and be part of the right crypto communities to be among the first to invest in a promising coin or project. This can take some time and be tricky because many people in the crypto space seem helpful but are secretly using their audience for exit liquidation.

Here’s how exit liquidations work: 

There will be crypto coin developers who will pay some of the ‘crypto experts’ VERY GENEROUSLY to promote a new coin or project to their followers.

(I've heard of situations where people are paid £100,000 to do it)

When the influencer promotes it to their followers, this then creates a hype, people start buying it which drives up the price of that coin or project.

Once the price is inflated, these influencers immediately sell off their own holdings at the high price, making a big profit then exiting quickly.

Meanwhile, their followers, who bought in during the hype, are left 'holding the bag' as the price falls down.

This tactic leaves the audience with significant losses while the influencers and developers walk away with a profit. It's very clever but SNEAKY.

You are wondering why people fall for it?

Well, people don't have much common sense these days.

Some of the the influencers who do these things are wise with how they frame themselves online.

They will post a lifestyle of success and luxury whilst constantly talking about how its because of crypto that did it for them.

People see this and blindly believe it without objectively looking at that influencers teachings from a 'calm, rational and logical' perspective.

Therefore they end up blindly following that persons words and end up getting burned.

Crypto is certainly NOT a scam, it is real and you can make LIFE CHANGING money from it.

But you must find trustworthy people to follow when it comes to this. and the trust worthy people are hard to find or their groups will not be free or cheap to get into.

Quickly: A good way to know if someone is possibly legit is if they talk about (or show) their LOSSES and the potential drawbacks that could happen.

But if someone ONLY talks about or shows wins and makes it seem like its impossible to lose? then you should be suspicious.

If you know nothing about crypto and want to start holding a bit of Bitcoin is the only recommendation I'd make whilst doing research on finding good trustworthy people and sources to follow.

Bitcoin will fluctuate in price. but bitcoin is the safest investment in crypto.

-Till Next Time