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The Psychology of Wealth: Mindsets and Habits of Successful Investors

Gavril Yushvaev Russia

Imagine winning a million dollars in the lottery. What’s the plan?

Assuming the answer isn’t “spend it all!”, the next question would likely revolve around the best way to preserve and even grow the balance.

Successful investors are usually able to double any sum in a matter of a few years, and more often than not, via avenues that are also available to everyday retail investors.

To learn what separates the 1% from others, take a look inside the minds of those who play the markets to win.

The Millionaire Mindset

In a world where anything could go wrong, successful investors like Gavril Yushvaev seem to know how, where, and when to invest.

They’re certainly not psychic by any means.

However, they do have these personalities and mentalities:

Curiousity

The world is always evolving, but this will stop happening unless new technologies emerge. The geniuses behind such innovations need funding in order to integrate their products and services into the market.

A wise investor is typically willing to learn more about these new advancements and developments – as any single one could end up being the next big thing.

They also capitalize on the opportunity to invest early, in case they invest in something that becomes successful – as they would end up regretting that they passed on such a chance.

Take Mark Cuban, for example.

As successful as he is as an investor, to this day, he regrets passing on investing in Uber. He told CNBC, “If I would’ve given him $250,000 on a [$10 million] valuation, it’d be billions,”

However, Cuban most likely had his reasons – and reasoning is essential to an investor.

Logical

Everyone has likes and dislikes – it’s what makes us human. However, successful investors don’t let their emotions control them in their professional lives.

No matter how passionate they are about a project, service, or advocacy, they make sure that they support those when they’re not working. They know that, in an investment setting, the numbers are more important.

Let’s say a company promotes healthy and ethical living, so they create an Amazon-esque app for organic and cruelty-free products. The question is, are they earning enough?

If they’re not, then it’s not wise to invest. This is because there won’t be financial growth when the company itself isn’t profiting.

However, when investors do take on a risky investment, they stay level-headed.

Gavril Yushvaev Russia

Balanced

Successful investors understand that the market can go haywire at any moment.

Remember when Cristiano Ronaldo moved the Coca-Cola can away to drink water instead? Coke’s shares dropped from $56 billion to $55 billion.

Also consider the controversial statements that CEOs Elon Musk and Mark Zuckerberg are making on social media. Each has been sending their companies’ values downward – the opposite of what their investors want.

However, as stated, investors will take risks in investing in businesses whenever it seems feasible.

But the amount they’ll risk investing is also determined by other factors. They typically hire stockbrokers and financial advisors to help with those.

At the end of the day, successful investors stay humble – they’re aware they everyone should ask for help from those who know better than them. It’s good to admit that many others will know better than them when it comes to certain topics.

Conclusion

It’s fulfilling to earn a considerable amount of money from investments. However, successful investors don’t just invest where the most money is currently flourishing.

Successful investors think progressively, rationally, and carefully – a mindset that everyone could benefit from adopting.