13 Personal Habits Of The Young and Filthy Rich

1. They negotiate everything which prevents people from taking advantage of them.

My rent in Blacksburg Virginia kept increasing $10-50 every time I had to renew. I finally told my landlord I wouldn’t pay the increase unless they agreed to update my lease with a 90 day notice to vacate with no termination penalty.

They agreed because their other option was to stop my lease, spend time to find a new renter, and spend $500+ of their own money painting and making the place shiny for the next tenant – not worth it.

 

2. They kill their mental addiction to phone.

Before I was making a lot of money I’d spend 30-40 minutes every morning scrolling through Facebook and other apps looking at new notifications that didn’t help me build wealth in the slightest.

Now, I keep my phone 10 feet away from my bed (this forces me to actually get out of bed to stop the alarm which decreases the chance that I snooze, get distracted, or lay in bed with my phone scrolling through endless garbage).

3. They create success on demand.

You remember the last night where you laid in bed and couldn’t fall asleep because your mind starting buzzing with ideas? That’s entrepreneurial adrenaline.

In those moments, you convince yourself you can do anything. Winners take these convictions and make them reality by repeating them publicly. Losers keep those thoughts in their dreams.

I always remind myself of my goals, pair those goals with a historical figure, and let my mind get buzzing at a super fast level – this is like natural 5 hour energy.

I tell myself I’ll have worlds #1 business podcast, tie this to Red McCombs who created Cumulus radio – kinda like podcasting – then let my mind visualize success so I can create it on demand.

Related: How I Launched My Podcast, Got 36,000 Downloads In First Month, Hit #1 Ranking in iTunes Using Psychology As My Weapon of Mass Distribution

4. They use craigslist to practice deal making and always walk away.

Specifically, they go into these deals knowing they will walk away which gives them the mental capacity to walk away when a real deal comes along in life.

Many normal people only enter a negotiation or look for a deal when they absolutely need something. Bad time to practice deal making.You’ve already lost at this point.

Smart people open negotiations on deals they absolutely do not need simply to practice the art of seeing how good of a deal you can get and walking away no matter what happens – you didn’t need the deal in the first place.

Related: How Tim Draper Raised $10b, Invested in Elon, and Perfected Deal Making

5. They understand costs and spreads.

I know podcast sponsors are banging down my door to pay $100 for every 1000 listeners I get – we’re multiples more than 1000 listeners per episode. It helps that my podcast is the fastest growing business podcast in history. At a $100CPM, this means one download is worth $.10.

Once I know cost, I simply have to find ways to drive new listeners at less than $.10 per new listen. Once I find those opportunities, I spend the money right away because I know the channel will be directly profitable plus there are other benefits I can’t directly correlate but know exist.

6. They message penthouse owners and ask for extreme discounts on AirBnB.

This trains you to ask for really nice things for cheap which will eventually expose you to opportunities. 1/10 airbnb millionaires I message end up writing back either offering a discount or some other benefit.

If I get a great price, I book the place, invite my friends, and have a great time while they all wonder how I got a luxury penthouse in New York for a month (listed at $30k/mo). Simple, I’m way better at making great deals than the average human!

7. They drink 2 glasses of lemon water every morning.

This will immediately balance alkaline levels in their body. This is the key to having endless energy – a major advantage in a world full of mostly boring, uninspiring people. You don’t need medications, 5 hour energy, or to put foreign chemicals in your body for stimulation, just drink more water.

8. They understand their personal supply chains.

They know they can get 12 dozen eggs at Kroger for a fixed cost of $.03 per egg. They know what it costs to eat healthy each month.

They know how to source the pair of jeans they wear everyday from amazon. Same with their favorite black shirt. Once you make these personal supply chains efficient, it free’s your mindshare to focus on bigger decisions.

Related: This 15 Year Old Makes $15k/day Selling Beenie Babies. You Won’t Believe What He’s Selling Now.

9. They simplify their lives.

Every month I put 60% of my monthly income from salary into investment vehicles via direct deposit. I never see the money in my BBT account and I update my net worth spreadsheet in a google doc every 15 days while rebalancing my portfolio once ever 6 months. I follow the asset allocations that David Swensen recommends – the manager of Yale’s endowment.

10. They fight like hell for an information edge.

When a student at Virginia Tech emailed me saying the university was offering freshman $1500 to move off campus because they were overbooked, I knew this meant increased rental prices in the local Blacksburg market for years to come.

I started door knocking to find owners who would sell me their buildings which I could then rent out for prices 140-180% higher than what they were currently charging. What information are you sitting on that could make you millions?

11. They practice ignoring things.

My favorite way to practice this is to send my ex’s notes on their birthdays where I say exactly how I’m feeling with no expectation for a return response.

I’ll say something like “Hope you’re birthday yesterday was great. I think about you often and hope you are well!”. I then mentally forget that I sent this message which trains my brain to ignore things I can’t control. This is like building a moat around my emotional independence.

12. They intentionally practice counter-intuitive thinking.

This will make you billions in business but you have to start practicing small.

My favorite thing to do is go out with friends to a bar (where you’re expected to drink), and simply order cranberry or orange juices all night. Your friends will harass you and you have a great environment set up for yourself to practice standing your ground and thinking in a counter-intuitive way. Best thing is, if you’re as handsome as me, you’ll get the non-alcoholic drinks free all night!

13. They set up testing grounds in their daily lives to practice deal making where it doesn’t matter.

I’ve trained myself to always ask the clerk checking me out (avoid self checkout robots, you can’t manipulate them): “Before I use my hard earned money to pay for these groceries, is there anything you can do to save me some money?”.

You’d be surprised how many times they rummage around their checkout stand and find an old coupon that still works, or free gas points, or something with real monetary value and then smile and hand it to you free!

Whoever asks for more in a negotiation usually wins so start practicing asking for more in less-intense daily situations. That’ll get your millionaire mind up to full speed.

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