Millionaire Habits That Will Change Your Life

Danille goes over six important habits that millionaires do. When followed correctly, they can put you on a successful financial track.

📘 Chapters →

1. 0:26 keep track of your finances
2. 2:52 Don't buy things to impress people
3. 3:52 Act like you don't have money
4. 4:37 Don't invest in things you don't understand
5. 6:13 Don't try to time the market
6. 7:12 Learn what tax code is

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ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.

With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This channel is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income.

Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.

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Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.’

Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel.

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[vanessakellow]

What a lovely, thoughtful presentation. Thank you for sharing such great advice.

[resachadley]

Thank you much we appreciate you two, I never miss a video, thank you again, great content

[dm]

Thank you for pulling back the curtain and sharing your knowledge.

[dhowto]

Thanks Mrs. McElroy!

This is helpful advice!

[dmustakasjr]

This is like straight out of the book "Millionaire Next door"... very solid advice.

[davidrpriest]

These tips are all gold. Thank you for sharing!!!

[JV-irzw]

I love your explanation on the money 💰 topic and taxes code 👌 👏 Thank you 😊

[desertdc]

Great points that make sense, which contradict how too many people believe or act out - spending more, the more one makes. I hope you keep these videos coming, Danille and C-student.

One question: starting at 0.53, did you actually mean, "their *smaller items* are similar to your *bigger items*", instead of what you said?

[flockoGuwop]

Am i trippin or the volume super low lol, great advice thou .

[robertoinvests]

so much value I had no idea everything you say makes so much sense!
❤

[chrisb]

Most people will not understand how big of a bomb you dropped with that last point

[AJohnson]

I’ll also add that a good habit is paying yourself first. As soon as you get any income, transfer a preplanned percentage to an account like Fidelity so you won’t see it in your checking account and spend it. Shaq says that if you have a high income then you should invest 75% of it. Then with the other 25% pay your bills and spend it on fun stuff. I realize that 75% is not realistic for most people but the point is that you should be working to buy assets, not stuff you don’t need. Then eventually your assets will help pay for your living expenses and all the fun stuff.

[piRatCaptain]

The sound was really muted on this episode

[scottrsaunders]

Great insights! To the last point, successful people use the tax savings to invest in more tax advantaged assets and repeat this cycle over & over.

[m.ehtizan]

Hey Ken, I just watched your video and I must say that it was really informative and well-made. I loved your videos. I was wondering if I could help you edit your videos and also make highly engaging shorts for you.

[starklife]

What do millionaires use to budget their money? Do they have spreadsheets on their phone? I used to have multiple checking accounts (the 6 jars method) but my tax attorney advised me against that. I need something I can get to easily and frequently.

[wbcsh]

Gee, I wonder why Ken married such a bright, independent-thinking woman like Danille? Doh.
To me Danille is brighter than Ken. I see real skepticism, and thus curiousity-driven intelligence in what she says and does. EDIT: The audio needs to be boosted.

[dm]

Where do you start to learn about the tax code? Beginner books, blogs a general 101 online class.

[edwinvonborstel]

We like reading and learn from such books as The millionaire next door

[joshuadolan]

I’m a charter pilot…putting your plane on charter is great…you just have to expect stained carpet and upholstery