🌼The World’s Richest People Do These 3 Things (And Why You Should Too)
It’s all about your state of mind
The world’s richest people do these 3 things (and why you should too)
“Someone is sitting in the shade today because someone planted a tree a long time ago.” — Warren Buffett, an American business magnate, investor, and philanthropist
There is a common philosophy shared among the world’s wealthiest people.
This is the guiding force behind their pursuits. It drives them, motivates them, and helps them make decisions.
This “long-termism” philosophy empowers billionaire Elon Musk to work 120 hours per week. It’s the foundation for his strategy and why he has become one of the greatest innovators of our time and one of the wealthiest people in the world. It may explain why Musk has a strong desire to colonize Mars even though he may not see it happen during his lifetime.
How can you implement long-term thinking into your life, and what are the three things rich people do to succeed? Let’s dive in.
1. They Are Optimistic
“It is very important to generate a good attitude, a good heart, as much as possible. From this, happiness in both the short term and the long term for both yourself and others will come.” — Dalai Lama, a Buddhist monk
Optimism is core to long-term thinking. It’s the foundation for long-termism. You can’t expect a positive future without a positive outlook on life.
Optimism breeds success
Research has found that optimists are more likely to reap financial benefits. For example, here are some interesting stats:
90% of optimists put money aside for a significant purchase, compared to 70% of pessimists
Almost 2 in 3 optimists start an emergency fund, while less than half of pessimists do so
Optimists are less stressed about finances — 145 fewer days each year
The good news is that being optimistic is like a muscle; you can build it. It starts by practicing gratitude daily. Ground yourself in optimism and view the world in a positive light, and you’ll be rewarded handsomely.
2. They Prioritize the Future
“Maturity is achieved when a person postpones immediate pleasures for long-term values.” — Joshua L. Liebman, an American rabbi and author
Long-term thinking is about thinking beyond your life and envisioning generations to come. When you embrace the philosophy of long-termism, you prioritize the future and don’t focus on the past.
It’s human nature to seek instant gratification. In today’s social media world, we like to pursue the short-term. When you think about the short-term, you damage your long-term success.
“The obsession with instant gratification blinds us from our long-term potential.” — Mike Dooley, an author, speaker, and entrepreneur
Don’t cut corners. Put in the hard work. Don’t lose sight of your long-term goals. Don’t sacrifice the future for too much fun today.
3. They Know They May Not Enjoy the Fruits of their Labor
“Anything that works well or has long-term success is never done quickly.” — Reem Acra, a fashion designer
Long-termism is about investing as if time is infinite. It would help if you built your life and career as though time is limitless. This means that you may start projects you can’t finish in your lifetime. It means you let go of your attachment to seeing results and realize that you may not see and enjoy the fruits of your hard work.
Most people make decisions based on the time they perceive they have. For example, spending increases during catastrophic events such as natural disasters or international unrest. When people see time as limited, they spend more money frivolously.
Take a long-term approach to life where you invest your time, energy, and money into things that may not yield an immediate benefit. View time where you are not limited by your lifetime.
Bringing It All Together
The world’s wealthiest people do these three things. They are optimistic, prioritize the future, and know they may not enjoy the fruits of their labor. It’s all about your mindset and an optimistic long-term view of your life.
When you adopt a long-termism philosophy in your decisions, you can create a solid foundation for your life. It can serve as a guiding force that drives success.
“Be brutally honest about the short term and optimistic and confident about the long term.” — Reed Hastings, an American billionaire businessman
CONTRIBUTED BY Matthew Royse
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