You see, most people, they have this misconception how the rich spend their days. They believe it’s what they see on Instagram. They are on their yachts, they are in their mansions, they are in their private jet doing something, going on vacations. That has not been my experience. That’s not how they spend their days. In fact, in the book “The Next Millionaire Next Door,” Sarah Stanley and Thomas Stanley, they’ve spent years studying 600 millionaires, and they found five differences how the rich actually spend their days.
Difference number one, the rich spend their time reading. What Thomas Stanley and Sarah Stanley found is the average millionaire, they spend more than five-and-a-half hours a week just reading books, versus the average American only spends two hours reading, and for some, they don’t even read at all. Think about billionaire Mark Cuban. On average, Mark spends three hours a day just reading up on his industries, or the industry he wants to get into, versus most people don’t read a whole lot. Comment below how many hours you invest reading every single week. Difference number two, the rich spend their time exercising.
I think most people, they underestimate what it takes to build a company or to create wealth. It takes a lot of energy and stamina and endurance to be able to persist, to keep going, to keep going, and to keep going, and also to deal with the stress and the hassle that comes with wealth. There are hassles that come with wealth. How do you manage your money, and how do you grow your company? How do you deal with people? How do you defend, and how do you deal with competitions, and on and on? So on average, the rich spend six hours a week exercising versus the average American only spends two-and-a-half hours a week exercising.
Difference number three, the rich spend less time on social media. The average American spends 14 hours a week on social media versus millionaires, the rich, they only spend two-and-a-half hours a week on social media. In fact, a lot of them are not on social media. Unless you’re in the digital marketing business, you’re running let’s say a digital marketing agency, then yes, you probably want to spend more time on social media because it’s related to your career or your business, but the rich, they leverage and use social media for profits, not for pleasure. They actually don’t spend a lot of personal time on social media.
So how much time are you spending on social media, and what do you have to do to manage that time better and invest that time more wisely in high income producing activities? Difference number four, and this may not be what you think. The rich sleep less than the average American. In fact, the rich, they sleep eight hours less a week than the average American. Elon Musk sleeps six hours a day. Tom Ford, think about it. Tom Ford, who I buy most of my suits from, sleeps only three hours a day. Martha Stewart, four hours a day.
They don’t sleep as much as you think. Why? Because they have a lot of responsibilities, and they have a lot of things to do. Difference number five, the rich work longer hours than you think. In fact, the rich on average works six hours more a week than the average American. They work long hours. Just because they’re successful, you might think they are taking it easy. That’s not the case at all. It is difficult to be successful. It is even more difficult to stay successful. So not only they are sleeping less, they are working more.
And this is why most people, they want to be successful, they don’t want to pay the price. Just like the definition of overnight success, meaning you spend decades working in the shadow. No one knows who you are, no one gives a crap about who you are, with nothing to show for it, until someday, hey, you are an overnight success. So those are the five major differences how the rich spend their days.