Success and Freedom

50 Ways Happier, Healthier and More Successful People Live on Their Own Terms - part 4

31. Tithe or give 10 percent of your income away.

“One gives freely, yet grows all the richer.”  —Proverbs 11:24

Many of the wealthiest people in the world attribute their healthy financial life and abundance to giving some of it away. Most people are trying to accumulate as much as they can. But a natural principle of wealth creation is generosity. As Joe Polish says, “The world gives to the givers and takes from the takers.”

From a spiritual perspective, everything we have is God’s (or the Earth’s). We are merely stewards over our possessions. When we die, we don’t take our money with us. So why hoard it? As you give generously and wisely, you’ll be stunned by the increases in your earning potential. You’ll develop traits needed for radical wealth creation.

32. Drink 64 to 100 ounces of water per day.

Human beings are mostly water. As we drink healthy amounts of water, we have smaller waistlines, healthier skin and better-functioning brains. Actually, as we drink enough water, it’s safe to say we’re better in every way. It’s a no-brainer. If you’re not drinking the healthy amount of water each day, you should critically assess your priorities in life.

33. Buy a small place rather than rent.

Unless you live in a big city (which many of you do), I’m baffled how many people pay outlandish amounts on rent each month.

When my wife and I moved to Clemson to begin graduate school, we did a lot of front-end work to ensure we’d be able to buy a home. What’s shocking is that our mortgage payment is far less than most of our friend’s rent payments. By the end of our four years here in Clemson, we’ll have earned several thousand dollars in equity and even more in appreciation. Conversely, many of our friends are simply dumping hundreds of dollars into someone else’s pockets every month. Paying rent is like working hourly. You get money while you’re on the clock. When you’re not on the clock, you get no money. Earning equity is like having residual income. Every month you pay down your mortgage, you actually keep that money. So you’re not “spending to live” like most people do. You’re living for free while saving—and often earning in appreciation.

34. Wait to check your email and social media at least 60 to 90 minutes after you wake up.

Most people check their email and social media immediately upon waking. This puts them in a reactive state for the remainder of the day. Instead of living life on their own terms, they’d rather respond to other people’s agendas. Hence, the importance of having a solid morning routine. When you wake up and put yourself, not other people first, you position yourself to win before you ever begin playing. As Stephen Covey teaches in his book Spiritual Roots of Human Relations, “Private victory always precedes public victory. ”Make the first few hours of your morning about you, so that you can be the best you can for other people. My morning routine consists of prayer, journal writing, listening to audiobooks and podcasts while I work out, and taking a cold shower.After I’ve had an epic morning, and I’m clear on the direction of my day, I can utilize email and social media for my benefit rather than detriment.

35. Make a few radical changes to your life each year.

Reinvent yourself every year. Novelty is an antidote to monotony. Jump into new pursuits and relationships.

• Try things you’ve never done before.
• Take risks.
• Have more fun.
• Pursue big things you’ve been procrastinating for years.

In 2015, my wife and I went from having no kids to having three foster kids (ages 4, 6 and 8). I started blogging. I quit my job and started writing full time. I completely changed my diet. I’ve changed my entire daily routine. This year has been just as transformative as the last. It’s taught me that you can change your whole life in one year. I plan on changing my whole life for the better every year. Change freaks people out. It immediately pulls you from your comfort zone. Which is exactly what you need. You’ll often feel like a fraud. But impostor syndrome is exactly what you should be seeking. Do your best to always be the dumbest person in the room and you’ll rapidly improve.

36. Define what wealth and happiness mean to you.

“Be everything to everybody and you’ll be nothing for yourself.”  —John Rushton

No two human beings are the same. So why should we have one standard of success? Seeking society’s standard of success is an endless rat race. There will always be someone better than you; you’ll never have the time to do everything.

Instead, recognize that every decision has opportunity cost. When you choose one thing, you simultaneously don’t choose several others. And that’s OK. Actually, it’s beautiful because we get to choose our ultimate ideal. We must define success, wealth and happiness on our own terms because if we don’t, society will define it for us—and we will always fall short. We’ll always be left wanting. We’ll always be stuck comparing ourselves and competing with other people. Our lives will be an endless race for the next best thing. We’ll never experience contentment.

37. “Change the way you feel, think and act about money.”  —Steve Down

Most people have an unhealthy relationship with money. It’s not necessarily their fault; it’s what they were taught. In order to change your financial world, you need to alter your paradigm and feelings about money. Here are some key beliefs the most successful people in the world have:

• In a free-market economy, anyone can make as much money as they want.
• Your background, highest level of education or IQ is irrelevant when it comes to earning money.
• The bigger the problem you solve, the more money you make.
• Expect to make lots of money. Think big: $100,000, $500,000, why not $1 million?
• What you focus on expands. If you believe in scarcity, you’ll have little.
• If you believe there is unlimited abundance, you’ll attract abundance.

When you create incredible value for others, you have the right to make as much money as you want. You’re not going to be discovered, saved or made rich by someone else. If you want to be successful, you have to build it yourself. When you develop a healthy relationship, you will have more. You won’t spend money on the crap most people waste their money on. You’ll focus more on value than price.

38. Invest only in industries you are informed about.

Warren Buffett doesn’t invest in technology because he doesn’t understand it. Instead, he invests in banking and insurance. He’s not a tech guy. He invests in what he understands. Yet so many people invest in things they don’t understand. I’ve made that mistake. I once invested several thousand dollars in an overseas rice distribution. Although the investment sounded incredible on paper, it’s turned out to be a disaster. I didn’t have the understanding to make an informed decision. I put my trust in someone else’s hands. And no one cares about your success more than you do. From now on, I’m going to invest responsibly in things I can make informed decisions about.

39. Create an automated income source that takes care of the fundamentals.

We live in unprecedented times. It has never been easier to create automated income streams. No matter your skillset or interests, you can put a business in place that runs 24/7 even while you’re sleeping, sitting on the beach or playing with your kids. An entrepreneur is someone who works for a few years like no one will so they can live the rest of their life like no one else can.

If you want to free up your time and energy for the things that matter most, either invest in stuff you’re informed about or create a business that doesn’t require you to be present every day.

40. Have multiple income streams (the more the better).

Most people’s income comes from the same source. But most wealthy people’s income comes from multiple sources. I know people with hundreds of income streams each month. What would happen if you set things up so you were getting income from five or 10 different places each month? What if several of those were automated?

Again, with a few short years of intentional and focused work, you can have several income streams.