2. Think Long-Term
It isn’t realistic to expect instant results. The wealthy know they have to stick to their goals, work at them and not get distracted. Some people think the wealthy have some secret know-how. Most of them have gone through a gradual learning process and learned the discipline of delayed gratification. They don’t spend money on impulse and have little interest in short-term pleasures while they build their wealth.
Warren Buffet believes that when you invest, you need to think long term. He uses a buy-and-hold strategy. Buffet says that if you make good investments and hold them over time, you will see the results after 10, 20 or 30 years. Using the baseball game as an example, he says you shouldn’t swing wildly. Instead, you should wait for the right pitch while ignoring the people shouting at you to take a swing.
Also, choosing the right investment within your area of expertise allows you to hit a home run. In his book, Millionaire Success Habits, Graziosi points out that you will face many distractions that won’t serve you. They won’t make you richer or happier. And they won’t allow you to improve your life and spend quality time with your family. So, you need to identify these distractions and avoid spending time on unnecessary activities.
Millionaires usually make sacrifices to get where they are. And they are prepared to make these sacrifices because they know what they want. So, when they achieve it, they enjoy their lives at a level that others only dream about.