3095: The Millionaire Mindset To Achieve Financial Independence by Brian Tracy on Retiring Early

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 3 April 2025

⏱️ 13 minutes

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3095: Brian Tracy breaks down the habits and mindset shifts that separate those who only look rich from those who are rich. Learn how adopting long-term thinking, discipline, and a focus on wealth-building behaviors can lead to true financial independence - regardless of your current income. Read along with the original article(s) here: https://www.briantracy.com/blog/financial-success/look-rich-or-be-rich-develop-a-millionaire-mindset-to-achieve-financial-independence-wealthy-people/ Quotes to ponder: “People who look rich often have little or no money saved. They work to earn and then spend everything on the outward appearance of success.” “People who are really rich are more concerned with building and maintaining wealth over time than with showing it off.” “You become what you think about most of the time. If you think about financial independence and becoming wealthy, you begin to do the things that will make it a reality.” Episode references: The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474 Think and Grow Rich: https://www.amazon.com/Think-Grow-Rich-Landmark-Bestseller/dp/1585424331 Rich Dad Poor Dad: https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612681131 The Richest Man in Babylon: https://www.amazon.com/Richest-Man-Babylon-George-Clason/dp/1505339111 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, the millionaire mindset to achieve financial independence by Brian Tracy of brian tracy.com.
0:11.0	To obtain the type of financial independence you've been dreaming about all your life, you must learn to develop a millionaire mindset.
0:20.0	Thomas Stanley and William Danko in the millionaire next door
0:24.6	explain that most wealthy people and self-made millionaires drive used cars, live in average neighborhoods,
0:32.6	wear average price clothes and watches, and are very careful with their money. In addition, very few of them
0:40.1	buy boats, recreational vehicles, second homes, personal airplanes, or invest in expensive vacations.
0:48.9	Stanley and Danko point out that there are, quote, those who look rich and those who are rich, end quote. Your job is to be
0:58.4	one of those people who are genuinely rich rather than those who spend a lot of money, but who have
1:04.4	very little in the bank. Develop a millionaire mindset. Truly wealthy people develop the habit of getting rich slow rather than
1:14.4	getting rich quick. To assure this, they have two rules with regard to money. Rule number one, don't lose
1:22.4	money. Rule number two, if ever you feel tempted, refer back to rule number one, don't lose money.
1:30.5	Wealthy people spend much more time thinking about their finances than people who remain
1:35.7	poor. The average adult spends two to three hours each month studying and thinking about their
1:41.6	money, usually at bill paying time. The average self-made
1:46.0	millionaire by contrast spends 20 to 30 hours per month, thinking, studying, and planning his finances.
1:54.3	This millionaire mindset, the very act of focusing on your money, will dramatically improve
2:00.5	the decisions you make with regard to it.
2:03.4	Wealthy people who invest more time planning their finances invariably make better decisions,
2:09.9	get better results, and achieve financial independence. Develop the habits of wealthy people.
2:18.2	With regard to your growing bank account and goal of achieving financial independence,
2:23.6	millionaires develop a series of other financial habits to assure that they don't lose money
2:29.3	and that their money grows steadily over time.
	...

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