The habits that helped Elon Musk, Jeff Bezos and Bill Gates become millionaires

Even though money is known to be a scarce resource, for tycoons like Elon Musk, Jeff Bezos and Bill Gates, profits from their businesses, investments and other financial actions, have allowed them to have stability and solvency, to the point where the problems they usually face are not due to lack of assets.

Banking entities and personal finance experts always emphasize that in order to have money, the main practice that must be maintained is saving and, in turn, consider it a habit. In this sense, the magazine Forbes consigns that you have to give money a name, which serves as a reason for it to remain saved and continue to grow.

In addition to giving it a name, it is also necessary to stipulate a date. For example: “leave my job in January 2023” or “a trip to Australia in 2024”.

However, even though there are different ways to get money, the writer Thomas Corley wanted to go further and for years analyzed the behavior of the trio of multifaceted millionaires: Musk, Bezos and Gates.

This is how the literary work called ‘Rich Habits: The Successful Daily Habits of Rich People’, with which the connoisseur of letters ventured to reply why are the rich so rich? and among his findings, the man found that there are specific practices to achieve the goal, such as:

1. Savings of 20% of the salary received month by month:

In the analysis, Corley revealed that the trio of businessmen have something that unites them with each other and it is saving 20% ​​of your monthly salary. In addition, this amount contains a separation, which corresponds to the 10% for retirement and the other half is automatically deposited into a savings account.

Taking into account data collected by the portal Chronicler, monthly savings is crucial to improve a person’s financial life. So if you can’t accumulate 20%, you are encouraged to save any amount. For his part, the writer details that “the point is to set some savings goals and stick with it.”

The minimum wage is payment for work performed during a set time. Photo: Getty Images – Photo: Getty Images

2. Be austere:

To be millionaires, Corley comments that Musk, Bezos and Gates are strict in their way of seeing life and that leads them to be aware of each of the expenses they make. Thus, the habit that is shared is to spend as little as possible and look for the most affordable prices, but without neglecting quality, since this is synonymous with durability.

3. Read frequently:

Microsoft founder Bill Gates has been emphatic in sharing that one of his passions is reading. In fact, in your office you cannot miss a book to nourish yourself with knowledge.

According to the written work of Thomas Corley, More than 80% of the subjects who have a good monetary capacity in goods and wealth dedicate at least 30 minutes a day to educate themselves through reading. “Most people don’t read to be entertained, but to gain or maintain knowledge,” says the author in his creation of rich habits.

Experts indicate that reading is a good habit that improves mental health. Photo: Getty Images.
Experts indicate that reading is a good habit that improves mental health. Photo: Getty Images. – Photo: Photo: Getty Images.

In this way, reading is a mechanism for access to knowledge and, in turn, for new opportunities to earn money. “In comparative terms, only one out of every 50 people with financial problems does this type of daily self-training reading, and consequently the poor do not grow professionally,” compares the financial analyst.

Finally, the writer explains that Another of the most relevant habits is to invest part of the savings, as it is a way to diversify income. “According to my study: 65% had at least three streams of income that they had created before they hit their first million dollars,” shares Corley.

It is worth mentioning that Elon Musk, Jeff Bezos and Bill Gates invest in different areas ranging from technology to social aid.

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The habits that helped Elon Musk, Jeff Bezos and Bill Gates become millionaires