Becoming wealthy might seem downright impossible when you try to wrap your head around the astonishing heights certain individuals can reach.
Most of the wealthiest people in the world have a lot in common and it’s not the similarities you might expect. The majority of billionaires are actually self-made, so you can start taking comfort in not having a rich grandmother to leave you her palatial estate.
Another reason to feel better about trying to build wealth: Bill Gates and Amancio Ortega, who are always among the richest people in the world, don’t even have a college degree. This doesn’t mean you should drop your classes and wait for the money to roll in, but don’t think the lack of one is getting in the way of your billions.
Speaking of billions, we compiled six of the most common reasons the wealthiest people became successful and continue to build their wealth. They are practices you can put into play right now, the numbers are relative.
They have multiple streams of income
You can get rich from becoming the CEO of a successful company, but you become wealthy when you use your riches to work for you in other ways, as well. All of the top 5 richest people in the world don’t just earn their money from the companies they built. Whether it’s through a diverse stock portfolio, real estate investments, or investing in other business or entrepreneurial endeavors, the streams keep flowing from all directions.
They take risks
Jeff Bezos, founder of Amazon.com and currently hovering at the top of the richest people in the world said, “If you decide that you’re going to do only the things you know are going to work, you’re going to leave a lot of opportunity on the table.” Risks can be scary, but the most successful people in the world didn’t gain their wealth from fear of what might go wrong. They made well-informed decisions, prepared for the worst, and came out stronger — and wealthier — in the end.
They think long-term
The money they have to spend today is better spent on investing, not for tomorrow or the next day, but next year… ten years from now. A long-term perspective influences smarter decisions now.
TheY love what they do
If you love what you do, you’re willing to spend time on it, you’re willing to improve upon it, and you’re willing to take risks for it. The love for your work inevitably makes the rewards grow.
They are constantly learning
There has yet to be a person to become ridiculously wealthy who knew everything there is to know from the beginning… or even after. Whether it’s going to school, reading books, attending lectures, or learning from others in the field, there is always knowledge to gain and methods to improve.
They give back
Every single one of the top 5 richest people in the world have each given away tens of millions of dollars to charities or other philanthropic endeavors. Bill Gates now dedicates his life full-time to the Bill and Melinda Gates Foundation. Warren Buffett has pledged to give away just about all of his wealth within his lifetime.
Building wealth isn’t just for an elite class of “super humans” who inherited cash and luck. It’s for anyone who is fearless enough to change their perspective, be daring enough to take a risk, and be willing to learn, to love, and to give back.