3047: Lessons from Millionaires by ESI of ESI Money on Early Retirement

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 20 February 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3047: Having interviewed over 40 everyday millionaires, ESI of ESIMoney.com uncovers the key habits that lead to wealth. High income, disciplined saving, and early, consistent investing stand out as the core principles that set millionaires apart. Avoiding financial pitfalls and making smart money moves further accelerate their journey proving that financial success is more about mindset and discipline than luck. Read along with the original article(s) here: https://esimoney.com/lessons-from-millionaires/ Quotes to ponder: "Having a high income is a great asset. Even people with high incomes can spend it all, so while many millionaires have high incomes, they also have something more valuable: self-control to limit their spending." "Millionaires use this to their advantage. They invest early, often, and at high amounts. Then they let this money sit and compound (usually in index funds) year after year and decade after decade." "My challenge to you is to ask yourself which of the tips mentioned you are missing. Which of these can you attack and get just a bit better at over time?" Episode references: The Millionaire Next Door: https://www.amazon.com/dp/1589795474 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:22.9	entrepreneurs like you. Sign up for your $1 a month trial at Shopify.com slash setup.
0:30.6	This is Optimal Finance Daily. Lessons from Millionaires by ESI of ESIMoney.com.
0:39.5	I originally had this post planned for Be a Millionaire Day. Yes, they do have a day for everything.
0:48.0	Then I moved things around, I wanted other posts to publish sooner, and messed it all up.
0:53.5	So consider this a belated tribute to
0:56.2	Millionaire Day with a post on what we've learned so far from my millionaire interviews. Between this
1:03.4	site and my former one, I've interviewed over 40 everyday millionaires. Not surprisingly, there are
1:10.6	patterns in their answers
1:11.9	regarding how they became well-off.
1:14.9	So let's look these over,
1:16.5	as I'm sure we can learn something
1:18.2	from these wealthy individuals.
1:21.1	What millionaires have taught us?
1:23.9	Here are the main lessons millionaires have taught us.
1:27.5	Number one, having a high income is a great asset.
1:32.1	Many people like to poo-poo the fact that several millionaire interviewees make good incomes.
1:38.4	Their line of thinking is, of course it's easy to become a millionaire if you have a high
1:43.1	income.
	...

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