The average millionaire is 57 years old. I did it by 27. And while there's not a get rich quick scheme, there are 5 major secrets to becoming rich, and I promise this video is not clickbait. Lots of people chalk success up to things like luck or being born into the right family. And listen, those definitely make it a lot easier, but understanding yourself and how the game of money is played is just as important. You see, our generation, think millennials and gen z, have lived most of our lives in financial turmoil. We experienced things like 911, the 2008 housing market crash, and even a global pandemic. We're kind of still in one.
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[Vivian Tu] 5 ACTUAL Habits of Self-Made Millionaires (NOT CLICKBAIT) YourRichBFF
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[Vivian Tu] 5 ACTUAL Habits of Self-Made Millionaires (NOT CLICKBAIT) YourRichBFF
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Vivian Tu
00:00 Millionaires prioritize scalability and passive income. 04:42 Start investing early for a secure future.
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“Lots of people chalk success up to things like luck or being born into the right family. And listen, those definitely make it a lot easier, but understanding yourself and how the game of money is played is just as important.”
“A 2019 study published by WealthX found that 68% of those with a net worth of $30,000,000 or more made it themselves. Furthermore, a second study by Fidelity Investments found that 88% of millionaires are self made, meaning they did not inherit their wealth.”
“Lesson number 1, you can only save as much as you earn.”
“You can only save as much as you earn. This essentially means it's a lot easier to come up with extra dollars by making more than it is by cutting back on every little purchase that brings you an ounce of joy. Instead of worrying about a $5 coffee, millionaires are a lot more focused on how they can level up their careers so that at the end of each and every year, they can ask for a raise or a promotion. But 39% of self made millionaires actually get rich working for someone else.”
“'Most of us trade our time and labor for money, but millionaires... invest. They do so because they know while they can only work so many hours in a day, their money can work for them non stop. By investing, they're able to bring in passive income, AKA where they work once and reap the benefits over and over again.'”
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Not to mention housing prices and education costs have skyrocketed and inflation's off the charts, while wages have stagnated. So it's no surprise that becoming a millionaire can feel more and more out of reach if you weren't born to rich parents. But the stats actually tell a very different story. A 2019 study published by WealthX found that 68% of those with a net worth of $30,000,000 or more made it themselves. Furthermore, a second study by Fidelity Investments found that 88% of millionaires are self made, meaning they did not inherit their wealth. And listen, coming into wealth isn't always a simple process. Many people work very, very hard to achieve their financial success. But I'm Vivienne, your rich BFF and your favorite Wall Street girlie, and I'm gonna teach you the major secrets that help me become a millionaire in half the time that it takes most people.
Please like, comment, and subscribe to learn more about being good with your money. Let's get to it. Lesson number 1, you can only save as much as you earn. 1st and foremost, rich people are not scrimping and saving. And I know what you're thinking, duh, they're rich. But that's not what I mean. We as a society often point the finger when it comes to financial shortcomings. We blame individuals because they're overspenders, they're shopaholics, and they love lattes and avocado toast.
But rich people know a big secret. You can only save as much as you earn. This essentially means it's a lot easier to come up with extra dollars by making more than it is by cutting back on every little purchase that brings you an ounce of joy. Instead of worrying about a $5 coffee, millionaires are a lot more focused on how they can level up their careers so that at the end of each and every year, they can ask for a raise or a promotion. When most people think about self made millionaires, they imagine some entrepreneur working around the clock. But 39% of self made millionaires actually get rich working for someone else. So performing well at your job is an important part to getting to millionaire status. Lesson number 2, labor versus growth.
Millionaires think a lot about scalability. Most of us trade our time and labor for money, but millionaires 24 hours in a day, 7 days a week, 365 days in a year, 366 if it's a leap year. So if your money making is dependent on your time and labor, you're not going to have much time or energy for anything else. What's the point of being rich if you can't enjoy a nice vacation? Make it in time for your kid's soccer game or have a nice meal out with friends and family. Instead, millionaires all invest. They do so because they know while they can only work so many hours in a day, their money can can work for them non stop. By investing, they're able to bring in passive income, AKA where they work once and reap the benefits over and over again. While they do focus on making as much money as possible from their jobs, they then use this money to make them even more.
Habit and lesson number 3, discipline and delaying gratification. Millionaires practice discipline and delayed gratification. I will be the one to say what everyone is wondering, no, millionaires are not smarter, better, faster, stronger, or anything special versus non millionaires. The only market difference I've noticed among my friends who are self made millionaires versus those who aren't is that they're typically more disciplined and better at delaying gratification. For example, think about the runner's trick. You aren't running for 30 minutes. You're just running for 10 minutes three times. Runners think about running to the next stop sign, and then the next tree, and then the next landmark, and you're essentially able to mentally trick yourself into delaying gratification.
Earlier on in your life, you'll be able to put your money to work early, meaning you won't have to put as much money away overall. This allows you to invest early and often so that by the time you're 30 or 40, you'll have a major financial cushion and can then start to really enjoy the fruits of your labor. If present you is able to take care of future you instead of only focusing on present you, your life will get easier and easier. And I know we've all heard of the phrase, live every day like it's your last. But realistically, it's not. If you focus on making each day spectacular as possible, especially by using your money to do so, there may not be much left over for you a week, a month, a year, or 10 years from now on. I'm not saying don't have fun, but balancing fun today with a mix of responsibility and discipline means you'll get to have fun in the future too. Lesson and habit number 4, millionaires love changing their minds.
Many of us have heard the cliche term that millionaires aren't afraid of failure, but that's not the important part. The pivotal key here is that once these rich people recognize that they've failed, they're willing and able to change course quickly. When presented with new information, millionaires are not shy about acknowledging that they're wrong so that they waste less time trying to bail out a sinking ship. Whether it's business ideas, personal opinions, or even just directions when driving, millionaires are able to change their minds quickly and without shame. You learning to do so as well will help you save time and money. And last but not least, millionaires set ambitious goals. And you know, I always say this, but you don't become a millionaire if you don't make a plan. Very few millionaires just wing it and make it.
Millionaires set ambitious goals and act on them. Not only do they write down their goals, they also formulate plans with baby steps on how to actually get there. It may not be feasible to scale your business from $0 to $1,000,000 overnight, but 25% growth each year over 4 years could get you there. It's unlikely for you to go from making $50,000 annually to 300,000 dollars000 annually in 1 year. But if you have a plan to job jump every 2 years and ask for a 50% raise each time, you've certainly carved a road map on how you intend to do it. By making concrete plans that align with your goals, you'll set yourself up for success. To close out this video, the most important thing to remember is that millionaires are not special. They are not smarter or better than non millionaires, but they do live their lives more strategically.
And if you're able to do the same, you could very well become a millionaire too. The more you're able to maximize these strategies, the faster it'll happen. If this video was helpful, subscribe for more money, wealth building, and finance tips. See you, besties.
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1️⃣ One Sentence Summary
Millionaires strategically maximize earnings, invest, stay disciplined, and set goals.
🔑 Key Themes
Most millionaires are self-made, not inherited
Focus on increasing income, not just saving
Invest to create passive income and growth
Practice discipline and delayed gratification
Be willing to change course when failing
Set ambitious financial goals and plan accordingly
Millionaires are strategic, not inherently superior
💬 Keywords
millionaires
self-made wealth
financial success
earning potential
saving money
career advancement
raises and promotions
passive income
investing
scalability
time and labor
discipline
delayed gratification
financial cushion
responsibility
failure
adaptability
changing course
decision-making
ambitious goals
goal setting
planning
business growth
job hopping
salary negotiation
strategic living
finance tips
wealth building
money management
personal finance
📚 Timestamped overview
00:00 Millionaires prioritize scalability and passive income through investments to maximize their time and financial freedom.
04:42 Start investing early, balance fun with responsibility for future financial security.
07:12 Maximize strategies to become a millionaire. Subscribe for more money tips.
📚 Timestamped overview
00:00 Millionaires prioritize scalability and passive income.
04:42 Start investing early for a secure future.
07:12 Maximize strategies to become a millionaire. Subscribe!
❇️ Key topics and bullets
Here is a comprehensive sequence of topics covered in the text, with sub-topics:
Introduction
The average age of millionaires and Vivian's personal achievement
Factors contributing to success (understanding oneself and the game of money)
Financial challenges faced by millennials and Gen Z
Statistics on self-made millionaires
Lesson 1: You can only save as much as you earn
Rich people's focus on earning more rather than scrimping and saving
The importance of leveling up careers and asking for raises or promotions
The percentage of self-made millionaires who got rich working for someone else
Lesson 2: Labor versus growth
Millionaires' focus on scalability
The limitations of trading time and labor for money
The importance of investing for passive income
Using job income to make more money through investments
Lesson 3: Discipline and delaying gratification
The key difference between self-made millionaires and non-millionaires
The runner's trick: breaking down goals into smaller, manageable tasks
The benefits of investing early and often
Balancing present enjoyment with future financial stability
Lesson 4: Millionaires love changing their minds
The importance of acknowledging failure and changing course quickly
Millionaires' willingness to change their minds when presented with new information
The benefits of saving time and money by adapting to new circumstances
Lesson 5: Millionaires set ambitious goals
The importance of making a plan to become a millionaire
Setting ambitious goals and creating actionable steps to achieve them
Examples of goal-setting and planning for business growth and career advancement
Conclusion
Millionaires are not inherently special, smarter, or better than non-millionaires
The importance of living life strategically to become a millionaire
The potential for anyone to become a millionaire by applying these strategies
How to Create Content Like This
Here are a few key takeaways other creators can apply to increase their chances of achieving viral success like this recording:
Choose a compelling, relevant topic that appeals to a wide audience. Sharing actionable tips on building wealth is universally interesting.
Use an attention-grabbing title that makes a bold promise, like "5 ACTUAL Habits of Self-Made Millionaires." Make it clear the content will be high-value.
Open with a strong hook that establishes credibility. Mentioning becoming a millionaire by age 27 builds interest in hearing the creator's secrets to success.
Maintain an engaging, conversational speaking style. Vivian's upbeat energy and relatable examples keep the audience interested throughout.
Structure the content clearly with memorable lessons. Numbering the 5 key habits makes the advice easy to follow and recall.
Provide unique, against-the-grain insights, like focusing more on earning than extreme frugality. Fresh perspectives help content stand out.
Close with an inspiring, actionable message that empowers the audience to apply the lessons. Vivian builds confidence that the average person can achieve millionaire status too.
Optimize discoverability with relevant keywords in the title, description and tags when publishing the recording.
By studying successful viral content in their niche and employing some of these proven techniques, creators can improve their odds of reaching a massive audience with their message. Compelling topics, clear structure, credibility and fresh insights are key.
Anatomy of Good Content
The transcript is from a video by Vivian Tu, an established creator known as "Your Rich BFF." The video is structured in a way that effectively conveys important lessons about becoming a self-made millionaire.
What makes this content good:
Engaging introduction: Vivian starts by debunking common misconceptions about millionaires and sharing her own experience, which hooks the audience.
Clear structure: The video is organized into five distinct lessons, each focusing on a specific habit or mindset that contributes to financial success.
Evidence-based claims: Vivian supports her points with statistics and studies, lending credibility to her advice.
Relatable examples: She uses everyday examples (e.g., the runner's trick) to illustrate her points, making the content more accessible and understandable.
Conversational tone: Vivian's language is casual and friendly, making the viewer feel like they are receiving advice from a trusted friend.
Actionable advice: Each lesson provides practical tips that viewers can implement in their own lives to improve their financial situation.
Encouraging message: Throughout the video, Vivian emphasizes that becoming a millionaire is achievable with the right strategies and mindset, inspiring viewers to take control of their financial future.
Strong conclusion: She ends the video by summarizing the main point that millionaires are not inherently special, but rather live their lives more strategically, reinforcing the idea that viewers can adopt these habits to achieve similar success.
How to Create Content Like This
Here are a few ways to replicate the success of Vivian Tu's video on secrets of self-made millionaires:
Target a common financial aspiration: Becoming a self-made millionaire is a dream for many people, especially millennials and Gen Z. By providing advice on how to achieve this sought-after status, you tap into a large potential audience hungry for this information.
Debunk myths and offer data-backed insights: Vivian challenges common assumptions, like millionaires just getting lucky or inheriting wealth. She cites studies showing most are actually self-made. Busting myths and sharing surprising data captures attention and positions you as a knowledgeable authority.
Distill the secrets into actionable habits: Rather than just motivational fluff, Vivian breaks down exactly what separates millionaire mindsets and habits, like focusing more on increasing income vs. scrimping on small purchases. Giving viewers these specific, implementable takeaways makes the advice practical and valuable.
Speak from experience and results: As someone who achieved millionaire status by 27, Vivian has credibility on the topic. She references her own journey and observations among millionaire friends. Leveraging your unique experience and social proof makes your insights more authentic and persuasive.
Keep it engaging with a bold claim and clear structure: Vivian's title makes the bold promise of sharing "5 actual habits" that aren't "clickbait." She then delivers on this by organizing the video into 5 clear lessons. This approach hooks viewers by setting expectations and fulfills them with a tight, easy-to-follow structure.
Anatomy of Good Content
Here's why we love Vivian Tu's video on the habits of self-made millionaires:
Engaging introduction: Vivian starts the video by sharing her personal experience of becoming a millionaire by age 27, piquing the viewer's interest and establishing her credibility on the topic. She also debunks the notion of get-rich-quick schemes, setting realistic expectations for the audience.
Numbered lessons: The five key lessons are presented in a numbered format, making it easy for viewers to follow along and remember the main points. This structure also allows for easy referencing when revisiting the content.
Relatable context: Vivian provides context on the financial challenges faced by millennials and Gen Z, such as the impact of economic crises and rising costs of living. This helps the audience relate to the content and understand the importance of the lessons shared.
Supporting data and statistics: Throughout the video, Vivian incorporates relevant statistics, such as the percentage of millionaires who are self-made, to support her points and add credibility to the content. This data-driven approach helps the audience trust the information being shared.
Practical advice and examples: Each lesson is accompanied by practical advice and examples that illustrate how millionaires apply these habits in their lives. For instance, Vivian explains how millionaires focus on increasing their income rather than cutting back on small expenses, and how they invest to generate passive income.
Personal anecdotes: Vivian shares personal observations and experiences, such as the difference in discipline and delayed gratification between her millionaire and non-millionaire friends. These anecdotes make the content more relatable and engaging for the audience.
Strong conclusion and call-to-action: Vivian concludes the video by emphasizing that millionaires are not inherently special but rather live their lives more strategically. She encourages viewers to adopt these habits and subscribe for more finance tips, leaving them with a clear call-to-action and a sense of empowerment.
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