7 Habits for a Wealthy New Year
Where did the year go? Time seems to pass so quickly, which makes it increasingly important to get intentional about how we use our time. And if your intention is to build “wealthy” habits, you’re in the right place!
Wealth isn’t just about accumulation (in fact, circulation is much more important), it’s also about the habits that you employ. It doesn’t matter how much money you have if you don’t have wealthy habits. Wealthy habits are routines, values, and principles you live by that guide your financial choices and help you live a happier, wealthier, and more fulfilling life.
We all have only limited control of our circumstances and our environment. Likewise, we have only partial control of our results. As James Clear points out, every athlete strives to win the race or the gold medal, but only one will.
What we CAN control is ourselves.
You determine your thinking and your behavior.
We’re not sure who said it first (it’s been attributed to Abraham Lincoln, Peter Drucker and others), yet we love the saying: “The best way to predict the future is to create it.” And the best way to create that future is through focusing your thoughts and actions towards the future you want.
Resolving to Create Wealth
This time of year, many people set goals and intentions—or perhaps declare “resolutions”—about their desired future. And regardless of what you label them, goals, intentions and resolutions all involve one thing: deciding what you want. Gain clarity and the rest will follow.
Often, these goals involve finances. You may want to save more, pay off debt, or increase your income or net worth. Whatever is on your list of intentions, the right thoughts and habits can move you towards what you desire.
“Success leaves clues,” observes Tony Robbins. Success is not an accident, and outcomes are at least somewhat predictable. If you want to build wealth, do what wealthy people do!
Today, we explore 7 habits for wealth modeled by those who have created financial success. To improve your financial results in 2025, follow the lead of multi-millionaires and billionaires.
As you read these 7 points, note which of these behaviors you are already practicing, and which you can improve upon. Even small changes in daily habits can add up to big results over time.
1. Get Up Early
Most millionaires, multi-millionaires, and CEO’s get up early… before 6 am. In a five-year study of 177 self-made millionaires, author Thomas C. Corley found that nearly 50% of them woke up at least three hours before their workday began. Across the board, Corley found waking up early to be “one of the most consistent habits of millionaires.”
Rafael Badziag spent years conducting face-to-face interviews with more than 20 billionaires for his book, The Billion Dollar Secret. Each and every billionaire interviewed said that waking up early was a big component of their success. Most reported waking up around 5:30 a.m. to prepare for the day, both mentally and physically. Morning routines often consisted of reading, exercise, and time for reflection, meditation and preparation.
When you’re working hard, it can be hard to find time for personal and spiritual development. Waking up earlier can give you that time, which makes all the difference in your results.
2. Exercise Regularly
According to Entrepreneur.com, Richard Branson says he can “achieve twice as much in a day by keeping fit.” When asked by a younger entrepreneur how to earn more money, Branson’s surprising reply was, “Work out.”
Rhett Power says this: “Taking care of your sleep, diet and exercise is critical to your success because it allows you to get more done and, more importantly, be happy doing it.”
Exercise is almost always a part of the daily or weekly routines of the wealthy. In their research for The Millionaire Next Door, Stanley and Danko found that millionaires exercise about 3-1/2 hours per week.
All of the billionaires interviewed by Badziag exercised regularly. Many incorporated their favorite sports into their regimen. Those who did so found value in team sports dynamics—such as learning about both winning and losing—in addition to fitness benefits.
3. Read Non-Fiction
According to Corley’s research, successful people spend more time reading and listening to books on tape instead of watching TV, while those with low incomes and net worths watched lots of reality TV and read for pleasure, not to learn.
Warren Buffett famously reads for several hours each day. He reads corporate earnings reports, multiple newspapers, and non-fiction books that give him an excellent understanding of trends. When asked the key to success, Buffett pointed to his stack of books and said, “Read 500 pages every day. That’s how knowledge works. It builds up, like compound interest.”
Our own Kim Butler’s favorite genre is non-fiction because it’s real. In non-fiction books, she can find business knowledge, personal development, and true stories about the incredible feats of everyday people, which inspire her to keep pursuing her purpose. These things are foundational to her personal and professional growth each and every day.
4. Create Multiple Income Streams
Wealthy people rarely rely on income from one job or benefit only from one income source. It is said that the average multi-millionaire has about 7 sources of income. Often it is a blend of earned income and passive income.
Sources of income might include:
- Profits from one or more businesses.
- Income from real estate investments.
- Interest earned on savings.
- Capital gains from investments.
- Stock and/or life insurance dividends.
5. Own Your Home
Very few millionaires – less than 2% – rent their homes, according to multiple studies. As detailed in this excerpt from Busting the Interest Rate Lies, it’s difficult to build wealth while throwing money down the rent hole.
Already own your home? Now is a good time to start thinking about investment property. The housing market has been fairly competitive for the last few years, yet things are starting to settle down again.
If you have thought about purchasing a rental property or even a second home, now is a good time to get your ducks in order. There is a saying, “Fortune favors the prepared.” Finding an ideal property at an attractive price means that you first:
- Save cash for a down payment.
- Clean up any credit blemishes or shortcomings.
- Research desired markets and property types.
- Obtain a mortgage pre-approval.
- Enlist the support of other professionals to advice and assist with a property purchase.
6. Save 20% or More of Income
We recommend saving 20% of income if possible. Of course—start where you can, even if it is 5 or 10 percent, and work up from there. Some people save 30% or more!
Because of longevity, it is especially important that women save money consistently—especially single women responsible for their own financial support.
A bank savings account or credit union is a good place to start. Once you have savings for “everyday emergencies,” then a whole life policy is an excellent long-term savings vehicle that offers greater returns and benefits. Couples with permanent whole life insurance are the best protected, as the partner who lives the longest will receive a death benefit when their spouse passes.
7. Nurture Relationships
Research shows a strong link between loving relationships and financial success. Some of this research comes from an 80-year (and still going) Harvard Study of Adult Development. Originally known as the Grant Study, after its original benefactor, it tracked Harvard sophomores from the classes of 1939-1944. The men (there were few women at Harvard in those days) were interviewed extensively and repeatedly throughout the years to document and measure nearly every aspect of their lives.
The conclusions? Whether the relationship is with a parent, a spouse, grandparents, children or friends, people who love well tend to build more wealth. An informative article titled “Love Is All You Need” lists the stunning findings, as outlined by Harvard research psychiatrist George Valliant:
- Men with one or more close relationships with a sibling made $51,000 more per year than men who had poor relationships with their siblings, or no siblings at all.
- Men who grew up in cohesive homes took home $66,000 more per year than men from unstable homes.
- Men whose mothers were warm earned $87,000 more than men whose mothers were uncaring. The men’s boyhood relationships with their mothers (but not with their fathers) were also associated with effectiveness at work.
- The 58 men with the best scores for warm relationships made almost $150,000 more per year than the 31 men with the worst scores!
According to Ohio State’s Jay Zagorsky who authored “Marriage and Divorce’s Impact on Wealth,” research on marriage and money shows that married people save more and build wealth faster than single people, unmarried couples, and those who divorce.
- People who get and stay married each have about double the wealth of single people who never married.
- Married people experience net worth increases of 77% over single people.
- A married couple increases their wealth an average of 16% each year of marriage.
- After ten years of marriage, couples report an average net worth of $43,000, compared with just $11,000 for people who stayed single
- Divorce wreaks economic hazard on individuals, often erasing the gains of marriage.
As you can see, the link between wealth and healthy relationships is undeniable!
What Are Your 2026 Objectives?
One of the most important things I like to impress upon people who are learning and possibly implementing new things, is not to get caught up in perfection. When I host events, I encourage attendees to choose three things to focus on. Then, when you master those three things, choose three more. That way you don’t get stuck in overwhelm mode, and you can be efficient and effective.
As we go into the New Year, think about the habits you might want to adopt, and choose a few to work on. Don’t get caught up in perfection, focus on progress.
So, what three things will you focus on?
And of course, we are here to support you! Don’t hesitate to contact Prosperity Thinkers if we can help you save, buy life insurance, or evaluate your financial strategies. We look forward to serving you in the year ahead!
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