Besides making more money than the average person, millionaires incorporate daily habits into their lives that make them more productive. While some of us prefer sleep over morning gym sessions, those who prioritize mental and physical well-being tend to be in a higher income bracket. Coincidence?
Sarah Stanley Fallaw, author of the book “The Next Millionaire Next Door: Enduring Strategies for Building Wealth,” surveyed more than 600 millionaires in America, and found that their daily activities can influence their wealth.
Business Insider dug through Fallaw’s book and discovered a few choice statistics that can benefit all of us.
While the average American spends 14 hours a week on social media, millionaires spends an average of only 2.5 hours a week, which gives them more time to exercise both their minds and bodies.
Fallaw says that millionaires spend roughly 5.5 hours a week reading for pleasure, compared to just 2 for the average American. The same stats are nearly identical when it comes to exercise, with millionaires working up a sweat for nearly 6 hours a week compared to 2.5 for that average Joe.
Apple CEO Tim Cook gets out of bed at 4:30 a.m. to go to the gym. Think about that next time you want to hit the snooze button (on your iPhone).
And because they spend more time reading and exercising, they have very little time left over to “like” Instagram posts or stalk their ex’s Facebook.
Lots of millionaires don’t even engage in social media. Jennifer Lawrence has said that she “will never get Twitter.” And George Clooney says he’d “rather have a rectal examination on live TV by a fellow with cold hands than have a Facebook page.”
Warren Buffett still uses a flip phone, which makes it nearly impossible to mindlessly scroll through feeds.
And while they do shun social media in favor of other wealth-building habits, many millionaires sacrifice sleep in favor of the hustle. Elon Musk gets about 6 hours of sleep a night, Tom Ford says he only gets about 3 hours, and Martha Stewart manages on less than 4 hours a night.
Maybe what these millionaires need is not so much social media on their phones, but rather some helpful mediation apps.