Nov 21, 2024
He wakes up every morning at 5 a.m. He takes ice-cold dips in his in-ground pool. He works out daily. And at a time in life when many Americans only dream about having substantial wealth, YouTuber Jeff Rose says he became a multimillionaire in his 30s.
“There’s no doubt that these have had an impact on my success,” Rose said of his rituals. “But these aren’t the reasons why I went from being broke as a joke to becoming a multimillionaire by the time I was 38.”
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All in all, life seems pretty good for this finance content creator, and he doesn’t mind sharing his secrets. In a video posted May 2023, he detailed the habits he believes made him wealthy at a young age.
Rose shared how a proper mindset and seizing on growth opportunities comprised part of the recipe behind his wealth. Here, we take a closer look at five of the rich habits he suggested.
Make failing fun
Fun? Failing? Put it this way, it takes the intimidation out of trying and reframes losing experiences as occasions to move ahead.
“That means I’m trying new things,” Rose said.
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Ask for help
There’s no doubt, so far as Rose is concerned, that millionaires make this a part of their regimen.
For example, at the recent Money 20/20 convention in Las Vegas, Orum founder and CEO Stephany Kirkpatrick shared how taking on the top role for the first time required her to gather and consult great team members to answer her many questions and help her overcome imposter syndrome. It paid off. She previously said the company had raised $85 million.
Always learn
Sharpening your learning curve can only increase your prospects. On a strictly educational level, the U.S. Bureau of Labor Statistics reports that the median earnings of those 25 and older with a master’s degree were roughly twice as much per week ($1,737) than workers with a high school diploma ($899) in 2023. Higher earnings can also afford a worker to invest more and yield higher compound gains over time.
Read More: Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
Live healthy
The correlations between health and wealth may not seem obvious, but Rose lays them out as follows: more energy means higher productivity. He cited research by CPA and author Tom Corley, who has studied the habits of the wealthy. Corley says that 76% of millionaires reported working out at least 30 minutes, four days a week. Rose also shared how his father and grandfather passed away from heart attacks in their 60s, which moved him to value the gift of life.
Review your goals constantly
As life circumstances change, it pays to review how your goals align with your resources and reality. For Rose, “This was the big one.”
He compared it to making a New Year’s resolution, and how few people seem to maintain them over the course of a year. It can be difficult to stick with a plan if you don’t check in once in a while — that goes for both personal and financial goals. Self-reviews regularly can help keep you on track.
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Lou Carlozo is a freelance contributor to Moneywise.
