Are you interested in joining an elite crowd in America?
A club that currently hosts only 630 people?
A group that’s collected earnings reach an astonishing $3.4 trillion?
If so, you’ve got some work to do. It takes a lot to become a billionaire in the US. It’s not impossible, but you need to have the right combination of luck, wits, determination, and grit—and maybe a winning invention or two.
Are you wondering how to become a billionaire? Are you looking for tips for getting rich? Well, you’ve come to the right place.
Here, we describe some of the most essential do’s and don’ts of becoming wealthier than you’ve ever imagined (or even know what to do with). Grab your pen and paper and take notes.
Do: Dedicate Your Time to Innovation
What are your passions? Where does your creativity abound? What can you offer the world that can turn into a money-making idea?
Billionaires encompass a rare group of innovators, inventors, and entrepreneurs. They put their money where their mind is, earning dollars by improving upon things like energy storage, water filtration, antigravity (we’re looking at you, Elon), and other life-changing ideas.
To become a billionaire, your dreams need to be just as expensive. Ensure that what you’re innovating has the power to rock the world—and even make it a better place.
Don’t: Watch TV
Did you know that lower-income households have more devices and spend more time using them?
Compared to higher-income households, the amount of usage is far higher, implying that more time is wasted in front of the television screen. Those with annual incomes of about $25,000 spent more time consuming media. On the other hand, those with annual incomes of over $75,000 kept the TV, radio, and video games turned to “off.”
So, if you want to become a billionaire, you’ve got to put down the remote and spend your time improving yourself. Instead of binging Netflix, consider reading a book, listening to a podcast, or watching a TED talk.
Do: Keep It Simple (Yes, Really)
A billionaire’s life sounds like a full one.
But the surprising truth is that most billionaires, Warren Buffet and Bill Gates included, take a lot of pride in their uncomplicated schedule. They believe that a calendar full of menial events is a recipe for distraction and being unproductive. Rather, they advise keeping things clear and uncomplicated.
What’s so good about having white space in your planner? The less time you spend on time-wasting tasks, the more minutes you have to plan your next side hustle or host a networking event.
In other words: use your precious time wisely. Spend it on the things you care most about. For example, billionaire couple John Arnold and Laura Arnold lead one of the greatest anti-pharma efforts out there.
What do you care about?
Don’t: Let Your Low-Pro Tasks Take Center Stage
When we say “low-pro,” we’re talking about those low-priority tasks that seem important but are really just placeholders to trick us into thinking we’re staying productive. This tip piggy-backs off the one we just discussed.
When you make a to-do list every day, consider what holds the #1 spot. Do you frequently put that off by focusing on what’s in space #2, #3, or #4?
Another piece of advice from billionaire Warren Buffet is accomplishing the most important chore of the day first, allowing the rest to follow in due time.
Why does this matter?
Because procrastination is a snowball rolling downhill. The more you avoid that all-important errand, the greater it looms in the background, causing unnecessary stress and pressure. Get it done early on, making space for the other important (albeit less so) tasks.
Do: Consider Your Investment Opportunities
It’s no secret that many a billionaire has gotten to their position through some winning investments. When it comes to getting wealthy, you can do so in two ways:
- Work to receive an income—either for yourself or someone else
- Invest in assets that increase in value over time
What should you invest in? That depends on your interests, income, and opportunities. Consider the likes of stocks, bonds, real estate, mutual funds, small businesses, and more.
Investments require risks, so prepare to take them. You can always speak with a financial advisor for more insight and advice on making wise investment decisions.
Don’t: Hit the Snooze Button
Do you tend to sleep in longer than you should? Are you more of a night owl than an early bird? Are you wasting daylight hours by cozying up to your pillow?
Well, this might be one of the tougher but more doable habits you’ll need to change. It’s time to start waking up early.
Sleeping in can actually hinder that night’s sleep, making you all the more tired. It can also contribute to having negative thoughts or even developing depression symptoms. Waking up early, however, has a slew of benefits.
It offers your body more time to wake up and shake off the sleep. It can stave off mental illnesses, keeping your mindset more upbeat. It also puts you in place to achieve more, making you a more successful individual.
When you think of all those advantages, you’ll understand why billionaires rise with the sun.
Now That You Know How to Become a Billionaire, What Will You Do About It?
Do you have what it takes to get rich?
Are you prepared for the long road ahead? The one that includes a multitude of successes and setbacks, good days and bad ones? This is no easy journey—so buckle up and put your head down.
You know how to become a billionaire. What else could you stand to learn? The best billionaires have a wealth of knowledge to match the zeros in their bank accounts!
Keep scrolling our blog to become the most well-rounded thinker and entrepreneur you can be.