How to Think Like a Multi-Millionaire

Extensive studies have proven that millionaires think differently, even long before they ever achieve millionaire status. In order for you to become a millionaire, you must first think like one. And taking this concept to a higher level, to become a multi-millionaire, you must first learn to think like one. As a multi-millionaire myself, I can give you first hand wisdom on how to think like one. And furthermore, I come from a unique perspective among multi-millionaires because I started out homeless. That was 20 years ago but I can still vividly recall having to re-wire my brain back then, to think like a multi millionaire even though I was eating beans and living out of my truck. And today, because of how I had changed my way of thinking, I eventually became a multi-millionaire. Here's how you can think like one too:


Important Links

The Millionaire Misunderstanding

The Fear of More Money

5 Golden Rules of Decision Making

Most Important Personal Finance Principle


#1: Eliminate Fear of More Money

This is the most foundational thing you must change in your thinking to become a multi-millionaire. It's real and unfortunately you have it. Everyone has it on some level. How do you eliminate this fear you don't even know you have? The answer is in my video called The Fear of More Money, where I teach you how to get rid of that fear.


#2: Frugal Personally, Aggressive Professionally

Be frugal with your personal expenses, but then be aggressive when taking risks with your business and investments. This means you must embrace what's called delayed gratification. You see, when making personal expenditures that aren’t necessities, those are for instant gratification. Whereas if you can be patient and take any extra money you have and aggressively invest that in business and investments, that's when you're thinking like a multi-millionaire.

So often people are fixated on trying to look rich. What I've discovered is the same amount of money they spent on a nicer car or bigger house, if aggressively invested would have made them rich. If they had thought like a multi-millionaire and been aggressive professionally but frugal personally, they would already be rich off that limited amount of extra money.


#3: Think Like an Investor, Not a Consumer

The difference between having a consumer mindset vs an investor mindset is a consumer mindset asks, “How much does it cost?” An investor mindset asks, "What's my return on investment? How could I be a part of that deal because of the returns, not because of how much it costs?" So often people are raised with a consumer mindset. For this reason, you must pull out and rewire some of those neurons that have connected the wrong thinking. Multi-millionaires are always focused on the return on investment.

A simple example of this thinking happened to me the other day. My six-year-old overheard me talking to my wife about one of our apprentices who was just finishing a deal. He had a fourth deal coming up and was yet, again, going to potentially make over a hundred thousand dollars. My six-year-old asked, "Dad, how much did the house cost?" I told him it doesn't matter what the house costs. That's thinking like a consumer. One of our apprentices is making over a hundred thousand dollars without any cash or his own credit. It doesn't matter what the house cost. What matters is what his returns were.

#4: Multi-millionaires are Financially Rational

This means they remove the emotions about money and make clear and rational decisions. It’s been proven that money is a deeply emotional subject for many people, and this causes them all kinds of problems; from the fear of more money to making irrational decisions.

Let me give you an example of how emotions can cause you to make irrational decisions. I have a video that talks about why it makes no sense for most people to pay off their student loans. It’s irrational to do so from a financial perspective. And that makes people freak out sometimes because they don’t want any debt. But if you are able to borrow long-term, fixed rate money at three or four percent and you can produce returns at ten, twenty, or even thirty percent, it would be financially irresponsible not to borrow the money.

I don’t think there is any problem with debt if it’s done wisely. In fact, I have another video on why it’s always a good idea to never pay off long term investment real estate. It’s wise to always have long-term fixed rate loans against those properties, so long as there is enough equity in case you need to sell. These are rational thoughts about money.

Multi-millionaires are constantly having a rational discussion with themselves on what they should do on their deals. So, thinking like an investor, they are more open to use other people’s money to do deals. Sure, you can put your own money into a deal as well, but when you’re thinking rationally, you think how it makes sense and how it doesn’t. You don’t get emotional about it. It can be a great decision; you just need do it rationally.


#5: It's a Journey, Not a Destination

Thinking like a multi-millionaire also includes the multi-millionaire's attitude toward their economic life as a journey, not a destination. Now that might be a millionaire's mindset. Their destination is to become a millionaire and so what happens when they become a millionaire is, they stop because their focus was the destination. Moreover, and probably the most destructive aspect of the destination mindset, is that you're frustrated about where you're starting from. If your focus alone is the destination, let's say becoming a millionaire, and you're starting from ground zero, you look at how far it takes to get there and you get discouraged and never get started.

On the other hand, if you look at it as a journey, then wherever you start from is simply fine. Bloom where you're planted; you can get started anywhere. Then you are on that never-ending journey of constantly trying to improve. So, when you hit the millionaire mark, what do you do? You keep going and improving because it’s a journey, not a destination. That's how I became a multi-millionaire.

I’m not saying you have to lose your life and your family over your economic endeavors. It's important to keep a balance. But if you look at it like a journey, you will be constantly improving and every stage you get presents new challenges. You embrace those challenges because it's a journey, not a destination you get to.


#6: Take Responsibility, Don’t Make Excuses

Multi-millionaires take responsibility for their decisions and the actions in their life. They don't make excuses. That’s what a broke person does. They're always making excuses for why they haven't achieved what they were hoping to achieve.

We all have our challenges and have started on different points in our journey. The key is to take responsibility for where you are. If you've been following my teaching, you know that I'm very passionate about this subject. I believe that you are where you are today because of the decisions you've made that have led up to this moment. Which leads to a need to improve your decision-making as well. In fact, I have a video on the Five Golden Rules of Decisions Making. But you can't make great decisions if you're also making excuses.

First and foremost, you must take responsibility, and then you can start to make better decisions. That includes asking yourself questions like "How can I?" instead of using excuses like you don't have enough time or money. It's about the decisions you make and executing them. It's about taking responsibility and eliminating excuses from your brain.


#7: Major in Major Things

Thinking like a multi-millionaire includes majoring in major things and eliminate majoring in minor things. So many broke people eat up their time with minor things that don't produce a lot of results. This is often due to fear. They shy away from the major things because it’s more comfortable for them to do the minor thing.

As a mentor, I often need to readjust my mentee's thinking because they spend way too much time getting almost nothing done, organizing your desk or reordering business cards. None of that stuff makes any difference.

This can be truly crippling for a lot of people, but you can start today by asking yourself, "What can I do today to make a bigger impact on my financial life that I haven’t done?” Maybe it's been on your mental list for awhile and you should just go ahead and get it done. More importantly, what should you stop doing? What's on your stop doing list because those are the other things that are eating up your day. Major in majors.


#8: Associate with Great People

One of the “majors” you need to put on your list is to up your game on whom you associate with. You need to surround yourself with great people. Take advantage of opportunities and build relationships with some of these great people. Get a mentor and really dig deeper into the lives of great people so that you too can be a part of what they're doing. There are so many wonderful people in this world that can bring you up. As iron sharpens iron, so one man sharpens another.


#9: Never Give Up

I've often said that I don't have a give-up bone in my body, and I stay on something until it's complete. Multi-millionaires have that same mindset. Why don't they give up? They don’t give up because they're on a journey. It's not about the destination. Instead it’s about constant, never ending improvement. You never want to give up because you don't know what's just around the corner.


#10: Be Generous

You may be surprised by this one, but multi-millionaires are generous people. They’re generous with their time, their talents, and their treasure. Be generous in your life. It can have huge impacts not only for all the people around you, but also for you personally.


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  1. Terry Nixon says

    Thanks Phil,
    I’m One Step Closer- “ you become what you think about most “

  2. Richard Carrasquillo says

    How do I start making money help me on ways to start.

  3. Dr. Candi O. Belle MBA PhD says

    Great information and a learning experience for me. I too, was a homeless combat veteran. It was a curse and a blessing.
    I hated being broke, lost and without hope. I finally did some self-examination while I was sleeping @ a bus stop one late night. I was a Harvard graduate with three(3) degrees. I was a decorated combat veteran with 22 citations and commendations. I started to stop feeling bad about myself, went to the local Dollar Store, bought toiletries and started to improve myself. I began to see myself as God saw me, one of his children and a success. I changed my thinking and started to see myself as a financial success. I listen to Phil a lot, bought tapes and videos with my SSI money. I started RE investing, flips and wholesale. I am still everyday trying to improve. I am almost ‘there”. Thanks Phil!

  4. joseph kam Kwong says

    i wish to join your freedom mentor program to become a wholesaler of winter retreat vacation homes for snowbirds in Northern USA and Canada, and rich pacific asian countries.
    my objective is to earn millions of dollars by wholesaling or selling time sharing of million dollar homes ( shared ownership)
    i wish to learn how to earn 10 percent on each sale price as a wholesaler or time sharing sales,
    i have zero experience and am working corporate 9 to 5 job for corporate america, My income is middle class under 50K per year.

    My target sales market is in Florida mostly in Miami , Orlando, Cape Coral , Coral Springs, Naples, Florida Keys, Clearwater Beach.
    If you have a teaching program to students on how to sell time shares vacation cottages or wholesaling million dollar homes then i am interested.

    AKA. I have recently completed my mortgage agent license and proceeding to become a real estate agent as well
    I have zero sales exerperience but i want to learn sales to become successful in my real estate wholesaling business
    i am 54 years old and want to leave the corporate rat race to become financial independent as a real estate wholesaler

    • Phil Pustejovsky says

      Timeshares are among the biggest rip-offs for Buyers in the real estate world; and selling fractional ownership of a million dollar home is close behind it. Take my free video course on Creative Real Estate Investing to learn how to best profit from real estate. You still can own vacation rentals in Florida at some point in your real estate career; but I would strongly encourage you to avoid timeshares and fractional ownership selling.

  5. william wright says

    i want to get in touch with you and your program for students to be successful in real estate

  6. Life is such a maze, and I am no better than anybody. Learning to be humble before God is helping me. Repenting of the pride I put before him is really helping me love him. My pride would never let me do that, which is reprehensible. Pride is probably the most subtle, and stifling of all sins. Money could never be all about only money, but about the good that could be done with it, both for one’s self, and for others. It is a tool of exchange. An implement to promote a function. I think I will always cherish living simply no matter what though. I do not know much, but I am willing to learn, and should always be willing to learn from someone wiser than I am. The money realm especially has a need for good religion, and sound philosophy.

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