Unlock the Wealth Mindset: 8 Habits of the Affluent

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Unlock Wealth: 8 Mindset Shifts of the Affluent Unlock the secrets to financial success with these 8 powerful habits of the affluent. Discover how adopting the right mindset can transform your wealth-building journey and help you achieve financial freedom. Whether you're an entrepreneur or looking to grow your income, these habits will set you apart.  Discover the 8 habits that wealthy people in the UK use to unlock the wealth mindset. Learn how shifting your thinking can boost your financial growth and set you on the path to success. Perfect for aspiring entrepreneurs and those interested in building long-term wealth.  Unlock the 8 habits of affluent Canadians that can help you develop a wealth mindset and accelerate your financial journey. Whether you're starting a business or investing, these habits will help you think differently about money and success.  Learn the 8 key habits of affluent Australians that unlock the wealth mindset needed for financial success. Discover practical tips and mindset shifts to grow your wealth, invest smarter, and live a financially free life.  🔥 Want to think like the wealthy? Follow today and unlock the secrets to financial freedom!

Transcript

00:00Rich people know a secret. While normal people grind for a promotion or start kind of scammy

00:04side hustles, the wealthy, they get rich quietly. But I think everyone deserves to know their

00:09secrets. The thing that separated the richest people was not intellect. It was a set of

00:15principles that have taken me from being stuck in the grind to owning my time, having multiple

00:20businesses, and eventually turning those businesses into freedom. They're not just ideas. These are

00:25actionable, backed by research and data, and they've been lived out by some of the most

00:29successful people in the world. So in this video, we're talking about the eight principles

00:32of the rich. Number one, you become what you do. The habits you build determine the life

00:37you live. It's a simple truth. And so if you repeatedly do a thing, it turns out that's

00:42contagious. If your daily actions aren't aligned with your goals, you'll never actually have the

00:46success you're chasing. A study in the Psychological Bulletin found that 45% of our daily behaviors are

00:52habits. These automatic behaviors are directly linked to your long-term success or not. It's not

00:57about what you do occasionally. It's about consistency. So that means the majority of our

01:02outcomes, health, wealth, happiness, all directly tied to the routines you follow. The rich people,

01:07they know this. It's never just one skill. It's what Scott Adams calls your skill stack. This is

01:12fascinating. You may not be at the top 1% of any one thing that's really hard, but being in the top

01:1710% of multiple skills, that creates a world-class stack. Habits work the same way. They compound

01:22into these unfair advantages. It was actually Aristotle, I think, that said, we are what we

01:27repeatedly do. Excellence then is not an act, but a habit. This is sort of the understanding that if

01:33you do the same thing continuously, you will have a result that is a direct action of that. If you do

01:39nothing else for this portion, do this one thing. Power of place. So instead of you having to change,

01:45why don't you change the place you're at? It's a lot easier to change your friend group than it is to

01:50change your friends. And I'm not saying that you should leave people behind, but until you get a

01:54habit, don't be around people, places, things that are the detriment to the things you want in life.

02:01And by the way, don't feel f***ing bad about that at all. I'm your permission to not feel bad.

02:06The second thing that I learned from the rich is that you simply do not get rich unless you have

02:10equity or what I call ownership. Now, this advice is not aimed to 20-somethings looking to make your

02:16first dollars. I made my first millions through salary alone. It's a necessary first step. But if

02:24you're a working professional with a chunk of money saved up, who's been in a job you don't like for very

02:29long, this advice is for you. Because the wealthy realize that at some point in your journey, you

02:34simply are not going to get rich unless you figure out how to get some equity. Even the highest paid

02:40employees know this and require equity too. So let's look at some top CEO salaries. Tim Cook,

02:46$3 million a year's salary. Sundar Pichai, $2 million, Google. Jamie Dimon, $1.5 million. Sounds

02:52like a lot, right? Well, actually, how they make money is something totally different. They actually

02:59make their money from equity. Look at Cook's net worth, $2.2 billion. Pichai's $1.3 billion. Dimon's $2.3

03:07billion. They didn't hit this level with a paycheck. They did it through ownership. Now,

03:12let's consider your typical nine to five job. Fixed hours, limited vacation, boss breathing down your

03:17neck, capped earnings, stable, but at what cost? Your job isn't as secure as you think, and you might

03:24not be as valuable as you think to the company. So you need to figure out how to make sure you become

03:29so valuable that the company wouldn't exist in a way without you or the same way. And thus, they want

03:35to give you some equity, or you go start your own. These guys, the really rich, they're playing a

03:39completely different game, but it's a game you can play too. And honestly, wouldn't you rather join

03:44a game that rewards winning? Of course, owning a business has its own challenges, and that's why I

03:49don't think everybody should own a business, but you should negotiate ownership. The next is that

03:54obsessing over your reputation is more important than anything else. It's actually your most valuable

03:59asset. Warren Buffett has a famous line, and that line is,

04:03Lose money for the firm, and I will be understanding. Lose a shred of reputation for

04:07the firm, and I will be ruthless. And that is what I want us to realize, is that it only takes

04:13really one bad decision to destroy your reputation. And so you want to guard your name fiercely. The

04:18really, really rich refuse to play short-term games that could end up costing them their long-term

04:23reputation. And that's what you guys are going to do too. I actually left a company because I didn't

04:27align ethically with them. The company at the time was a finance company, I won't say which one,

04:31and one of the divisions of the company, it was like Wolf on Wall Street. You guys ever seen that

04:37movie? And I just felt like ethically these guys weren't very lined. A lot of them were on their

04:42second or third wives, or they had side pieces. And again, I try not to judge other people. I don't

04:47know. Maybe that was their agreement, but it wasn't for me. I was making a ton of money at the time,

04:52and I could have stayed at the company. But at some point, I realized, even though I don't do those

04:56things, because I hang out with people who do those things, they think I do those things. So

05:01it's like you're getting none of the fun if you're into that stuff and all of the downside. If somebody

05:06cheats on their wife, they're going to cheat on you eventually. If somebody steals from somebody,

05:11they're going to steal from you eventually. If somebody consistently lies, they're going to lie

05:16to you eventually. Now let's not be too crazy. All of us are flawed and do a white lie here,

05:22or maybe we've, I don't know, not paid our taxes perfectly. We're not here to be moral absolutists,

05:28but we are here to see the trend lines of humans. How do they treat people over time?

05:33Another thing that you can do, I was actually talking to Chris Voss about this,

05:36famous FBI negotiator, about what are the things that psychopaths have in common? And one of them

05:42is that psychopaths can't really keep long-term relationships, which makes sense, right?

05:46Because they figure out that the person's psychopathic. And so they said a big signal is,

05:53does this person have a group of friends that they have known for a really long time? Now,

05:58not necessarily husband and wife only, although that's helpful, but friends and people who have

06:03worked for them for a long time. And if they don't, that might be because these people play

06:07short-term games. If you want financial freedom, you need skin in the game. But here's the catch.

06:11Most people waste time figuring out how to play instead of just starting. The wealthy don't do that.

06:16They hire experts. I hire experts. That's why I know domain money is a shortcut. They don't just

06:20help you manage money. They build you a system that works so you can focus on taking ownership

06:24of your time and your goals. So whether it's tax planning, spending optimization, or investing,

06:29they handle the hard stuff. And you get the confidence of knowing you're doing it right

06:33with the certified financial planners that have over 10,000 hours of experience. Remember,

06:37you can't afford to sit on the sidelines. Book a free 30-minute strategy session today with

06:41domain money at domainmoney.com backslash Cody Sanchez and start playing the game to win.

06:46This one has made me probably more money than just about any but the last one.

06:50Actually do the thing you say you're going to do. I found time and time again that the gap

06:54between the average and the exceptional is just one thing. Follow through. Rich people don't just

06:59make promises. They execute them relentlessly. And your most important promises are the ones

07:04you say to yourself. So if you say you'll do something and you do it, that's wild. What if that

07:09is the only thing that separates us from most of the rich? That's what I've actually found.

07:13A test that I use in the hiring process is exactly that. We ask somebody in hiring to complete a

07:19real-world task tied to their role. This could be anything from editing a document or solving a

07:23hypothetical customer issue. Why? Because the best predictor of future performance is past behavior.

07:29This trial project approach ensures we're bringing on people who will follow through. And the best way

07:35to determine that is basically going to go, what's the timeline you could do this in? They'll give it

07:39to you. Do they hit it on time or not? This is showing, not telling. Now, it's not enough for

07:45someone to say they'll do something. You got to actually be able to see them deliver on it.

07:50There's a great study from the Journal of Organizational Behavior that says people who

07:54are disciplined and following through rather than relying solely on motivation are 40% more likely

07:59to achieve their goals. I kind of like how Jocko Willink, who's a friend of my husband's,

08:04this retired Navy SEAL says. It's not what you preach. It's what you tolerate. Tolerate substandard

08:09performance. Then that performance becomes the new standard, which is why if the wealthy have been

08:15wealthy for a long time, they hold everybody to the highest standard. You know that saying where they

08:20say every single day, focus on the one thing that you really need to do, that if you did that and not

08:25anything else, everything else would become irrelevant. I've always liked that task, but here was my

08:30struggle with it. I'm like, that one task I need to get done is so big that there's no way I can get

08:37it all done one day. That would be like a week of nothing else. I wish, but my calendar doesn't look

08:41like that. Yours probably doesn't either. Instead, here's what I do. Every single day, I give myself

08:45two hours to work on the one thing. Even if the rest of the day gets away from me, if I'm writing a

08:52book, I say my one thing is I have to work two hours on that goal. That time commitment means that I am

08:59stacking up compounding to the thing that I want. That's actually how I wrote this book,

09:03Main Street Millionaire. And without that two-hour compound, I don't think we would have sold 30,000

09:08copies and be one of the best sellers. Next hard truth is you've got to be proactive with who you

09:13spend your time with. You can either have allies or friends. The rich understand that your environment

09:18is a mirror of your future, especially humans. So the person that you marry and every relationship you

09:24have is actually the biggest determinant for how much money you're going to make. If you surround

09:28yourself with a history of winning, it rubs off. Reverse is true too. A bad partner or friend

09:33actually can decrease your success. Data backs this up in particular. Research from Harvard's 75-year

09:40study of adult development revealed that strong, meaningful relationships are the most significant

09:45predictor of happiness and longevity. Warren Buffett said this perfectly. He said,

09:50it's better to hang out with people better than you. So pick out associates whose behavior

09:54is better than yours. And you'll drift in that direction. It's almost like they pull you.

09:59And I think there's a way to unintentionally surround yourself with the right people.

10:04So I audit my current circle, which is going to get me made fun of on the internet. But I take stock

10:09of the people in my life and I ask myself, are they lifting me up or holding me back? Be honest

10:13about what the answer is. I don't know about you guys, but I don't hang out with a ton of people

10:17that I went to high school with. I am not the same person that I was when I was in high school.

10:22Now I married somebody that I knew from high school. So I'm not saying everybody's bad.

10:26They're not. My husband's amazing and a badass. But I imagine that the people who you went to school

10:31with, the people that you were a high school student with are not going to be the people

10:36that move you to the next location. In fact, they knew you as a former version of yourself

10:40and they loved that version. So as you change, it's hard for them to be really excited for that

10:45new you. They think that they might lose you. The next one, the greatest muscle you can build

10:50is urgency. Here's the truth. The wealthy move fast, faster than you can ever imagine.

10:55They know that decreasing the time between having an idea and acting on it is where money is made.

11:00And urgency is cool because you can learn that. If you can shrink the timeline between thinking of

11:06an idea and taking action in it, this is where you make all your money. And it's the culture in all

11:11my businesses. So when most people say, I'll do it next week, next month, the next year,

11:16I push for about half the time. We have a rule at the company called the 24-hour rule

11:21instead of the one-week rule. How can you get me something in 24 hours instead of one week?

11:26Harvard Business Review actually shows that the fast decision makers outperform slower ones

11:31in 70% of high-stakes scenarios. Faster you move, the more money you make.

11:37Parkinson's Law also says that work expands to fill the time allotted for its completion,

11:41which means you take longer than it's necessary to complete a task or you procrastinate till right

11:47before the due date. So I love when Jack Welch, the CEO of General Electric, said that speed is the

11:54biggest weapon in any business. And that's actually how he turned around GE from a dying company to one

11:59of the most innovative one during his time. So how do you implement this into your life? One,

12:04set aggressive deadlines. If you think a task will take a month, ask, hmm, how could I do it in two

12:09weeks? Shorter timelines mean you eliminate procrastination. Two, communicate often and

12:16clearly. Frequent check-ins and updates. Keep everyone aligned and accountable. When

12:21communication improves, execution speeds up. Prioritize action over perfection. Listen,

12:26it's never going to be perfect. That doesn't exist. So take the first step and iterate. Urgency is

12:32basically the difference between dreaming and doing. The rich, they don't really wait. They're super

12:36impatient. That's like actually one of the things I've seen more than anything else. If you want to

12:40be a multi-billionaire, that's what it takes. It's like, I only have 24 hours in a day. It's the only

12:45thing I can't make more of. I have to be relentless with my time. Next one is avoid small talk. So I found

12:51this to be one of the main things that separates the rich from the rest. They kind of don't waste time

12:55on surface level conversations. They get deep fast. And I don't mean like trauma bonding, but I mean

13:02asking the right questions. There's like this art to how can I really get to know another person?

13:08And can I get deep with them on the things that matter as opposed to the surface of where they're

13:13sitting? There's a lot of studies on this, but I thought this one was really interesting by the

13:17Psychological Science Institute that says that people who engage in deeper, more meaningful

13:22conversations report higher levels of happiness and connections. And it's only in these conversations

13:28that you can really build trust and understanding. Actually, if you guys don't know Ray Dalio,

13:32founder of Bridgewater Associates, one of the largest hedge funds in the world, put it this way.

13:36Meaningful relationships and meaningful work are mutually reinforcing, which means that as you have

13:41relationships that are really based in trust, that leads to more opportunities, partnerships,

13:46and success. Low trust relationships, no money. High trust relationships, more money. So how can you,

13:53even when you're thinking that person is boring, go deeper with them? I stole some of these from my

13:57friend Chris Voss, which is one, ask open-ended questions. Instead of like, how's the weather?

14:02Maybe be like, are you working on anything exciting right now? What's really, what's interesting for

14:06you in this moment? The second one that I liked from him is focus on value, not filling silence.

14:12So rich people don't just talk to fill gaps. So the next time you find yourself just talking at

14:18soccer practice, shift to something else that matters. You're going to really stand out and build

14:23deeper relationships. I become friends with Jay Shetty. I don't know if you guys know him. He was on the

14:26internet. I really liked the guy. One of the ways that we became friends is actually, I didn't do

14:30it on purpose, but I was like, can I just tell you something kind of embarrassing about myself that

14:34I'm struggling with right now? And I'd love to hear your take on how do you handle, you know,

14:39embarrassing thoughts like this. One, it was super vulnerable. I didn't do it on purpose, but like,

14:44you know, I was being super honest. And two, he felt that. So he was like, man, usually when people

14:50meet me, they want to impress me. And you were just kind of like, hey, I'm struggling with this thing.

14:55And that says something about your character. So I think don't always feel like you have to be

14:58perfect or impressive. Just try to be real. Maybe more than anything else, guys, keep going after

15:04it gets hard. And maybe especially when it gets hard. Because the truth of the matter is, none of

15:09this stuff is easy. You know, they understand when you're talking to the super rich that the only way

15:14out is through. You can't just have resilience as a nice to have. It's the foundation. It's all built on.

15:21So if you can train yourself to like when it gets hard, that is when you get excited. That's when

15:26you start to make a lot of money. So instead of having anxiety, it's making moves. Instead of

15:31seeing challenges and bitching about it, it's figuring out how to solve it. Instead of feeling

15:36like everything has to be perfect, it's getting excited when it's not. You know, my dad has a

15:40saying I love, which is you aren't truly in the game unless you found yourself in the dead of the

15:44night, head in the hands, sitting in the dark with no idea of what to do next. And I have been there.

15:51And you know, when I talk to my friends about this who have built big businesses, they're like,

15:55oh yeah, just once? Or do you mean each week? So if you take anything away from this, I want it to be

16:00this. People who are rich are not better than you, smarter than you, have more resources than you,

16:07or at least they did it when they started. What's the difference between the really, really rich and

16:11you? Probably that they move faster. They take a little bit more risk. They obsess or keeping their

16:17word to themselves. And they do the thing that very few people do, which is when something goes

16:22wrong in the world, it's not the world's fault. It's their fault. Take a little ownership with

16:27yourself. I bet you end up getting some ownership from others.

16:41you.

16:45you

16:47you

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