The Two Habits of the Affluent

I’ve spent the past 30 months highly devoted to studying the affluent. Here are two of the common denominators I’ve found amongst America's wealthiest:

Habit 1: They prioritize wisdom over wealth

“Prefer knowledge to wealth, for the one is transitory, the other perpetual.” -Socrates

A wise man once shared with me that he can predict my financial future based on the books I read and the people I spend the most time with. Interestingly enough, I read nothing more than the morning headlines on my smartphone and spent all of my time with a bunch of guys who had good intentions but no dreams, motivation, and were headed nowhere fast. Since then I’ve learned that wisdom is the beginning of all wealth. Wisdom’s reward is wealth, and an investment in knowledge pays the best interest. Our real measure is not what we’ve accumulated but what we’d be worth should we lose it all. Take all the money in the world, divide it up, give it a few years and guess where you’ll find it all? That’s right – right back where it started. That’s because wealth is first a state of mind. It’s how someone thinks. Where we invest our money is a reflection of our priorities, and I’ve learned that he who will invest in his intellect, his understanding, his mind; he will reap much greater rewards that he who does not.

The affluent:

• Invest in education – conferences, books, programs, etc.
• Study the healthy – not the sick (the rich, not the poor)
• Stretch their minds – surrounding themselves with those who are wiser

Habit 2: The prioritize purpose over passion

“The two most important days in life are the day you born and the day you discover the reason why.” –Mark Twain

My generation – millennials – have been told their whole lives “find your passion and you’ll never work a day in your life” and so many of us go to school, rack up student loans trying to figure ourselves out, graduate into a field that we chose with little to no consideration, and then spend years – if not decades even pretending that we like what we do and that it’s our “passion” because that’s what we’ve been fed our whole lives. How many broke parents are there out there who’s families have to live mediocre lives because dad decided to pursue coaching underwater basket weaving at his local high school and live for Saturday’s when his team plays because “that was his passion”?

From what I’ve discovered about the affluent, they don’t pursue their passions like most would think. They pursue a purpose: to help people, to create change, to develop communities, to enrich lives, to drive innovation, to further knowledge, and the list goes on. They pursue these things not because they necessarily enjoy what it is that they are doing.

Can you imagine George Harding, the inventor (well – the first patentor) of the porta potty coming home one evening and exclaiming to his wife “Honey! I’ve found it. I’ve found what I was created for. I’ve discovered my passion!” and when she replies with a “Well – what is it dear!” him joyously shouting “We are going to become #1 in the #2 business!” Absolutely not. It was dirty work. He had a pretty crappy job, especially getting his business off the ground; however, he did it not because he was passionate about poo, but because his purpose was to take care of his family and provide for his wife, children, and even generationally. His purpose was more than just taking care of himself so he was willing to do what most wouldn’t do to live like most only dream of living. His passion was in pursuing his purpose. Not the other way around.

“Life is never made unbearable by circumstances, but only by lack of meaning and purpose” – Victor Frankl

The affluent pursue purpose and in doing so are able to fund what they are most passionate about (i.e. family, ministry, non-profits, hobbies, etc.) In order to truly pursue one’s passions, first, he must find his purpose for pursuing them. 

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I’ve learned a lot over these past few months about the wealthy. The live purpose driven lives that are more focused on the outcomes vs. the incomes.

What is a success habits of the affluent that you have observed?