My Own Life After Reading “The Millionaire Mind”

In my last blog post, I talked about reading “The Millionaire Mind” by Thomas J. Stanley and I broke down key elements that stood out to me. What I didn’t go into a ton of depth on is how it affected my personal life. You might be able to apply these same pieces to your own life!

I believe that lifelong learning is key to personal growth and fulfillment. By investing time and effort in books, classes, and hobbies that inspire me, I am constantly expanding my skills and exploring new possibilities. And as I grow, I am also committed to helping others do the same.

After reading the book…

I’ve come to realize that true happiness is not all about money. Yes, financial stability is important, but it’s only one piece of the puzzle. When my mind is busy and fulfilled, when I’m pursuing my passions and living my values, that’s when I feel truly alive. And that’s when I’m able to grow into my next-level self.

In my work as a bookkeeper, I strive to take the stress off my clients so they can focus on what they do best. By helping them manage their finances more efficiently, I’m giving them the gift of time and energy to pursue their dreams.

Putting in all the effort

And when it comes to my own dreams, I know that half-hearted efforts won’t cut it. If I’m going to do something, I do it to the best of my ability. I’ve learned that the old saying about doing what you love and it won’t feel like work is true. By immersing myself in my passions and engaging with others who share my interests, I’m able to deepen my knowledge and gain new insights.

But I also know that financial success doesn’t come from striving to build income alone. Rather than focusing solely on earning more money, I’m focused on growing my savings and investments. By studying and learning how to better utilize my income for future passive income, I’m positioning myself for long-term success and security.

Social Squares

Let’s all manifest this together!

I believe that anyone can achieve financial stability and wealth, regardless of their income level. It’s all about living below your means, paying yourself first, and investing a little every single month. And if you start early, you’ll be amazed at how much you can accumulate over time.

Of course, it’s never too late to start building for your future self. I know this firsthand, as I’ve had to start over again after setbacks. But I’m focused on smart investments and the power of compounding. Every little bit adds up, and I’m confident that I’m on the right track.

Integrity and hard work are key to building success and wealth in the long run. While book smarts and high IQs may help in the short term, dishonesty and lack of integrity will ultimately lead to failure. By living with integrity and pursuing our passions with honesty and dedication, we can build a life of success, happiness, and financial stability.

At the end of the day, I know that honesty and hard work are the keys to success and wealth. I believe in competing with myself, rather than with others, and I always strive to live with integrity. Because in the long run, it’s not the most book-smart person or the person who cheats their way to the top who wins. It’s the person who has a vision, lives with integrity, and stays focused on their goals.

So dream big, live with integrity, and watch the profits follow!

The Millionaire Mind: What It Takes to Build Wealth

Have you ever wondered what sets millionaires apart from the rest of us? Is it their intelligence, their work ethic, or perhaps just plain luck? According to “The Millionaire Mind” by Thomas J. Stanley, it’s a combination of all these factors and more.

In his book, Stanley explores the characteristics and habits of self-made millionaires, based on extensive research and interviews with over 1,000 individuals who have a net worth of at least $1 million. Here are some of the key takeaways from “The Millionaire Mind”:

Social Squares

#1 They’re frugal

Contrary to popular belief, most millionaires don’t live flashy lifestyles. In fact, many of them are extremely frugal, choosing to live well below their means in order to save and invest as much as possible. This doesn’t mean they’re cheap or stingy, but rather that they’re careful with their money and mindful of their expenses.

#2 They’re self-disciplined

Self-discipline is a trait that many successful people share, and millionaires are no exception. They’re able to stay focused on their goals and resist temptation, whether it’s a new car or a lavish vacation. This self-discipline extends to all areas of their lives, from their careers to their personal relationships.

#3 They value education

Education is another common denominator among self-made millionaires. They recognize the importance of learning and constantly seek to improve their knowledge and skills. This doesn’t necessarily mean they have multiple degrees or attended Ivy League schools, but rather that they’re always open to new ideas and willing to invest in their own development.

#4 They take calculated risks

While millionaires are generally conservative with their money, they’re also willing to take calculated risks in order to grow their wealth. They’re not reckless gamblers, but they do understand that there’s no reward without risk. They carefully evaluate potential investments and business opportunities, weighing the potential benefits against the potential downsides.

#5 They’re resilient

Success is rarely a straight line, and millionaires understand that setbacks and failures are simply part of the process. They’re able to bounce back from adversity and learn from their mistakes, rather than getting discouraged or giving up altogether.

Social Squares

These are just a few of the many traits that “The Millionaire Mind” identifies as common among self-made millionaires. Of course, there are always exceptions to these generalizations, and becoming a millionaire isn’t necessarily the only or even the most important measure of success. However, if you’re interested in building wealth and financial security, adopting some of these habits and mindsets could certainly help you on your way.

Read my next blog post to see how this book has affected my life specifically!

Increased 401(k) and IRA Contributions for 2023

I do my best to keep an eye on the calendar and make sure that we are up to date on the most current and helpful news around money. My last post regarding the 10/30/30/30 plan, was another idea I had my eye on and sharing it with you was hopefully a helpful tax planning strategies.

The IRS has announced that in 2023, the contributions to your 401(k) and IRAs were increased by almost 10%. That’s a big jump! This year you are now able to contribute up to $22,500 to your 401(k) and $6,500 to IRAs which is great news. Strategies to keep more of our money and spend less on taxes are my favorite!

How does this affect you?

Please contact your CPA to find out how this affects your 2023 money plan. My suggestion is to contribute what you can to a retirement plan like this, especially if you’re at a company that matches any sort of contribution. You want to max out those opportunities because it’s free money! According to the Bureau of Labor Statistics, only 69 percent of private industry workers had access to a 401(k) and only 52 precent took advantage of it. Make sure that you are savvy and take advantage of this advantage so that your money is working for you!

You have the money!

If you have not been contributing to your retirement plan, either because you lack the knowledge or the skills to do this on your own, today is the day to make these changes and gain more knowledge. Reach out to me for information on creating the life you want today and for your future. I can help you set up and follow a budgetary plan where we work retirement planning funds into your budget so that you are reaping all the benefits available to you. Let’s start today by making a plan to figure out what your goals are and how to get there!

I want you to be as financially healthy as possible! With a little guidance and support, it is not hard to do. When you work with me, we put the budget to work for you so that your retirement opportunities are fed and healthy. Everyone has to start somewhere so, reach out and start the conversation with me today!

New Website: Launched!

We’re excited to share with you that our new website has officially launched!

We would love for you to join us at our new website, http://ProjectDoneLifestyle.com

If you were previously subscribed to our blog, you will need to REsubscribe to our new blog. All you need to do is go here and enter in your email address. We love all of our subscribers and absolutely don’t want to lose any of you!

We hope you join us and continue on your journey towards Living Your Passion!
Angie
Project Done
http://ProjectDoneLifestyle.com

What I’m Reading: December Recap

In the world of Project Done, a lot of things are happening. We’re revamping our website (launching in a few days!!) and adding a lot of guest posters to our lineup of posts.

Another thing that I wanted to do through my blog is share with you a new series, “What I’m Reading.” I pull a lot of my inspiration from magazines, articles and blog posts, and I would like to start sharing them with you! I’ll have one “recap” post every month, with links to the articles and blog posts I believe you’ll benefit from, as I have. 🙂

Capture ideas quickly with index cards via Unclutterer {I personally use a system similar to this, but using “scrap paper”  instead. Old envelopes, extra paper, paper that would usually be thrown out. Makes me want to clear the clutter and get rid of the to-do list scraps by actually doing them!!}

Planning for the Pre-Holiday Toy Purge via Operation Organization {Such a great way to get kids to give away some of their toys to not only make room for new ones, but also to clean up the extra-clutter! Loved this quote in the bottle cap photo featured in this post: “The less you own, the less that owns you.”}

Personal Development: The Plan by Jim Rohn {I loved this article so much I reposted it to share it with all of you!}

What are YOU reading? I’d love to read them, too. Share the links to your new favorite blog post in the comments section below!

Want more tips to help you stay organized throughout 2013, or advice to keep your finances in order? You’ve come to the right place! Just enter in your email and hit the “subscribe” button on the right hand toolbar and you’ll receive the newest Project Done posts directly to your email inbox!

{Are you interested in guest posting your ideas on Project Done?}