How to Unlock The Millionaire Within [5 Proven Strategies]

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How to Unlock the Millionaire Within

Are you seeking millionaire status?

If you are ready to unlock the secrets of the millionaire within you, then look no further.

This post contains 5 successful habits used by millionaires daily.

Let’s get started!

My husband and I are determined to reach millionaire status. 

We know it’s not going to be an overnight thing, and we are prepared to work hard and not see results for years. 

But we are OK with that, because we realize that as long as we follow some very basic principals (which I’ve listed in this blog article), then we should be doing alright. 

I think one of the things my husband and I have come to realize is that to accomplish long term success, you need to approach your financial goals with a working mentality.

"If you don’t put in the work, especially up front, then why are you working toward your goals in the first place?"

So, my husband and I devoured some of the greatest books of all time to truly understand what it is that differentiates millionaires from ordinary folks.

"It seems like one of the single, largest disparities between millionaires and ordinary people is the mindset."

Millionaires (or those on their way to millionaire status), from what I found, have something called a growth mindset

Non-millionaires (specifically those who will not be reaching millionaire status in their lives) have a fixed mindset – something that is stagnant. 

I thought mindset of course was an important factor in achieving success, but I honestly didn’t fully realize the important role someone’s mindset would play in determining their future success.

After reading through the many books, my husband and I created a list of the top 5 things that we thought were prevalent themes among these books. 

For those of you who are curious about some of the books we read, check out the list below:

  • Mindset, Carol S. Dweck
  • Rich Habits, Thomas C. Corley
  • Think and Grow Rich, Napoleon Hill
  • The Millionaire Mind, Thomas J. Stanley
  • The Millionaire Next Door, Thomas J. Stanley
  • How to Win Friends and Influence People, Dale Carnegie

So, without further ado, let’s explore some of the common traits found in millionaires – or those on their way to millionaire status. 


1. Mindset 

As I mentioned earlier, mindset seemed to be one of the most common themes among the 10+ books that my husband and I read.

It seems like whether you are a successful executive or a successful bodybuilder, it comes down to how you train your mind. 

Your mind is one of those muscles in your body that we know least about.

One of the things that I find is extremely important and prominent with anyone who has become successful is how much they believe in themselves or the mission they are pursuing. 

It’s the only thing they think about. 

Their ultimate goal seems to be all-consuming and the energy of the millionaire is simply directed toward that goal.

I found there are two differentiating mindsets.

"One is known as a growth mindset, while the other is known as a fixed mindset."

Which one would you assume would be most common in millionaires and other successful, top achieving individuals?

If you said growth mindset, then you are correct. 

Let’s explore the difference between the 2 mindsets.

If an individual has not yet mastered a subject, the growth mindset would encourage them to keep learning, to keep putting in the effort, and remain persistent until they have accomplished that goal.

"Individuals realize they have the ability to develop their talents through learning, hard work, and consistency."

I didn’t always have a growth mindset, either. The books I read and a course I took with Mindvalley helped me understand how to extract the absolute best qualities within me to grow. 

The growth mindset is a tool that can help you realize your dreams – even if they seem so far away. 

What most people don’t want to do, though, is put in the time and the hard work to reap the rewards. 

Nothing is going to come easy, but as long as you are able to understand that concept, then you will be on your way to millionaire status.

People with a fixed mindset believe their traits are set in stone and they cannot be refined. 

"The person with a fixed mindset believes their talent is fixed and is static."

A person with a growth mindset would not shy away from being the dumbest person in the room

They would embrace it. Why?

"Someone with a growth mindset is looking to learn – not looking to show off their intelligence."

If you are looking to expand your growth mindset, read some of the books I mentioned earlier or check out Mindvalley, which is a platform for anyone to unlock the essential qualities of a leader.

adopt a voracious appetite to learn

2. Adopt a Voracious Appetite to Learn

As I mentioned earlier, one of the defining traits found in millionaires and millionaire seekers is their appetite to learn. 

They never stop learning.

Have you ever stopped to wonder why so many millionaires (executives, business leaders, etc.) hire people who are smarter than them? 

It’s to learn from them. 

It’s because these millionaires and business leaders realize that there are individuals out there who are smarter in specific areas than they are.

"The millionaires realize that they are not all-knowing."

You need to be humble and dampen your ego to realize that there are others out there who are smarter than you.

"Once you embrace the fact that others may be more knowledgeable in an area than you and you learn from them – the world is your taking."

Once again, this takes a growth mindset. 

If you are of the opinion that as a business leader you have to be the smartest person in the room, then you will be doing two things:

  • You’ll either hire people who are less intelligent than you and your company will never function properly or flourish.
  • You would hire people who are smarter than you but they will never speak up during business meetings because they want to keep their position. 

Either option listed does not inspire growth, innovation, and expansion. 

These two options show a fixed mindset. A mindset where the individual is afraid of being “shown up” by their peers.

"It’s OK to not know everything."

Just admit it. 

Especially coming from a business leader, if you admit you are not sure about something, your employees will likely appreciate you so much more. 

But the point is this: Never stop learning.

"The common mentality among millionaires is that the second you stop learning, you start dying."

Even if you learn something completely unrelated – you never know if that “unrelated” item will come back and contribute to your business down the road.

Let me give you an example from one of the greatest business minds in the United States: Steve Jobs, the co-founder of Apple. 

He studied calligraphy in college. Completely unrelated to technology and computers, right? 

Well, guess again. Because he studied calligraphy in college, he understood how important aesthetics are when it comes to developing a finished product. 

Using the skills he learned from his calligraphy class, he was able to develop a clean, beautiful, and aesthetically pleasing product in Apple. 

If you want to learn more, then consider learning from some of the world’s best teachers at Mindvalley.

Be comfortable being uncomfortable.

build multiple income streams

3. Invest your Money: Build Multiple Income Streams

I think one of the most important things I’ve learned as I read through these millionaire books is that those who have achieved millionaire status did not spend their money as they built their wealth.

There is a reason why millionaires (or at least most millionaires) have attained millionaire status. 

"Most millionaires don’t spend their money on stuff they don't need. They invest it."

I remember talking to one of my mentors, who is a multi-millionaire. 

We were talking about his recent flight across the ocean to Europe and how uncomfortable the economy class was.

Now keep in mind, I was probably 10 or 11 years old at the time. 

When I heard that this wealthy man was flying economy class – the cheapest and most uncomfortable class of all airline classes – I was dumbfounded. 

So, I asked him naively, “why do you fly economy when you have enough money to fly first class?” 

His response was one that I will never forget: “I am wealthy because I don’t spend my money on things I don’t need.”

Would flying first-class help him accomplish his long term goals? 
No. Probably not. 

Would flying first-class make him wealthier? 

Does he need to fly first class? 

Problem solved – why spend so much money on flying first class when you could still arrive at your destination, saving a few thousand dollars, by flying economy class?

That was a life lesson I was fortunate enough to learn very early and will never forget. 

Rather, they have their money work for them.

"The millionaire's money keeps making more money."

How does this work?

  • They don’t day trade.
  • They pay themselves first.
  • They are smart with their investing.
  • They build multiple income streams.
  • They simply spend less than they earn. 
  • They don’t hope to make money on a hot new stock tip.
  • They don’t want to pull their money out of the stock market during drops.

When a millionaire receives a paycheck, the first thing they do is contribute to their retirement accounts, their investment accounts, etc. THEN they spend whatever is left. 

Millionaires typically have a long-term mindset. 

They know that their chances to win at the millionaire game will be significantly increased if they remain in the game for the long run. 

So, they invest their money on a long term basis.

"Millionaires stay focused on their long term goal: Building Wealth."

A small blip on their investment spectrum will not disrupt their investing strategy. 

One of the most effective millionaire planning platforms is Personal Capital. That’s where you can plan for:

  • Retirement goals
  • Net worth goals 
  • Cash flow goals 

Investing through Personal Capital could mean you utilize the compounding interest strategy as a way to make more money from your current money.

"Building multiple income streams could mean multiple things."

For example, it could also mean you purchase rental properties and build passive streams of income. 

GroundFloor is one of the top applications to purchase short term real estate debt investments and generate an income stream. 

If you actually have a rental property and are looking to rent out your home, check out RentRedi, which is an application that can help you manage your future renters and property with ease.

do it

4. Do it – Don’t Just Think it

The next takeaway item I learned was simply that millionaires or those in the pre-millionaire phase are people who take action.

Millionaires are doers. Millionaires:

  • Conceptualize the plan
  • Brainstorm the plan
  • Execute the plan

But they don’t just sit around, thinking about how to make the perfect plan work in their favor. 

"What I found most astonishing is that millionaires are not afraid of failure."

They embrace it. Why? 

Because they learn from failure. 

Now, I’m not saying that millionaires prefer to fail over succeeding at something. 

But, I am saying that millionaires do not aim to be perfectionists. 

They understand that in order to accomplish a goal, you need to start somewhere. 

Even more, millionaires understand that to be successful at something, you may have to go through multiple failures. 

However, they are never discouraged.

"And they understand that to succeed, you may have to go through some failures. That’s ok."


  • Learn from failure
  • Embrace failure
  • Fail forward
  • Move on
  • Fail fast

And listen – if you ever do worry about the potential ramifications of failure and need quick, expert advice then chat with one of the many professionals offered through JustAnswer.

It’s the best resource out there for a quick question when you need help the most.

Never fear failure. There is always help around the corner. 

set specific monetary goals 2

5. Set Specific Monetary Goals

Another thing I’ve come to notice is that the more specific you can be with your goals, the more likely you will be to accomplish those goals. 

For example, let’s say you are in your early 20’s and your goal is to accomplish millionaire status. 

That’s the goal.

"Millionaires are so much more specific in their goal planning than just saying “I want to become a millionaire.”

They need to visualize something concrete to make this goal a reality, which is why they are so specific.

Here’s an example. 

Instead of saying “I want to become a millionaire” say this: “I want to have $1,250,000 in my investment and bank accounts by the time I am 40 years old.” 

Now, this is much more specific, it actually puts a number to the “millionaire” title and defines a timeline as to when you plan to accomplish this goal.

On the contrary: Remind yourself every single day about this goal and when you plan to accomplish it. 

The more you actually, physically see this goal in front of you, the more likely you are to accomplish that goal. 

Here’s what most successful millionaires and pre-millionaires do: They write down their specific goals and place this written goal in a location that they can see every single day.

My husband and I employ a similar habit: We wrote our millionaire goal on a large sticky note and posted that sticky note to our bathroom mirror.

Every single day we are reminded of our goal. 

Yes, we know it will take hard work to accomplish millionaire status.

We know we cannot give up.
And we know we have to put in the effort.

But we also know that if we continue to pursue our goal with consistency and persistence, we will accomplish it. 

Closing Thoughts

There are so many books and ideas out there, explaining how to become a millionaire.

The formula to achieve millionaire status is simple: It’s the 5 steps I’ve outlined in this blog post. 

However, it takes self-discipline to accomplish millionaire-status.

"Many fail to become millionaires because they don't put in the effort and the consistency to make their goal a reality."

It will be difficult. 

There will be days where you believe that everything you have worked for will be for nothing. 

"It’s the difficult times that will define the successful from everyone else."

You have to maintain a long-term mindset and keep moving toward those goals of yours. 

If it is to become a millionaire, then you’ll have to:

  • Save more than the average person
  • Invest more than the average person
  • Work harder than the average person

"If you truly commit yourself to these goals, then you will make them a reality."

Put in the hard work now – because your bank accounts will thank me later!

Which tips have you implemented in your quest to unlock the millionaire within? 

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Fiona Smith
Fiona Smith
The Millennial Money Woman was founded by Fiona Smith. She holds her Master of Science Degree in Personal Financial Planning and has co-founded a local non-profit community teaching financial literacy to young professionals.

6 thoughts on “How to Unlock The Millionaire Within [5 Proven Strategies]”

  1. Hey Fiona,

    Awesome post!

    Unlocking the millionaire within is something many people crave to do, but walking the talk is another story. In my view it requires someone to be able to “stand out”, because “fitting in” will not settle the bill on this one. The most uncomfortable barrier is somehow to convince our mind that it’s okay to be different than the people around us.

    The rest will follow eventually.

    Great books by the way, I’d recommend also “The Sublte Art of Not Giving A F*ck” by Mark Manson as becoming comfortable with caring less about what others think is what really matters in my view.


    1. Hi Matt!

      Thank you so much for your kind words – I really appreciate it. You nailed it when you said that many like talking the talk but walking the talk is a very different story indeed.

      We really do have to accept that sometimes, in order to be successful, you need to be comfortable being uncomfortable. Going against the masses. That’s really one of the easiest ways to stand out and find a unique and possibly revolutionizing approach that can help propel you to millionaire status.

      Thanks for the book recommendation – I look forward to reading that and have already let my husband know.

  2. Great post.

    Completely agree with having a growth mindset. I think this is where most people get stuck.

    I know I was stuck there for year’s until I changed my mindset.

    Becoming a millionaire is a growth process. The person who starts is completely different from the one who finishes.

    1. Alan,
      Thank you so much for your kind words!
      You are absolutely right in that becoming a millionaire has so much to do with your mindset – and it’s really a never-ending learning process. I look forward to hearing more about your journey – keep it going!

  3. Hey Fiona!

    Another great post. You are killing it.

    Mindset is everything. Like you said “One is known as a growth mindset, while the other is known as a fixed mindset.”

    People that want to be millionaire’s have a growth mindset. They are all about growing. That is from learning, setting goals, and never being afraid of failure.

    After I had set some monitary goals, my mindset changed to being a growth mindset. It is time to achieve my goals and keep growing.

    Thank you,

    1. Steve,
      Thank you so much for your kind words! I really appreciate it 🙂
      I look forward to hearing more from you and your journey as you conquer your goals. Like you said, the growth mindset is the first place to start and the rest of the world is your oyster.
      Thanks for sharing your thoughts!

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