5 Reasons Minimalists Are More Likely to Be Millionaires

If you are like most of us, there is a good chance that you grew up with the misconception that just because someone had a lot of nice stuff, they were probably rich. Not to burst your bubble or anything, but this isn’t always the case. Sure, there are those rockstars and famous actors who managed to keep their fame and fortune…and private jet. However, the majority of people who manage to make millionaire status do so by also rocking a minimalist lifestyle. So how do these little lifestyle changes allow for additional money flow and what can you do to begin incorporating them into your life for a little more moola? Well, lemme tell ya…

*Quick note: We may earn a commission on our recommendations at no additional cost to you.

Minimalists intentionally design their lives

One thing that most minimalists do that a lot of us non-minimalists don’t is that they get very clear about how they want to show up for our lives.

Sure, we all have hopes and aspirations, but taking the time to intentionally work toward those goals and eliminate anythings that doesn’t help us get there? Mmm that’s usually not something most people intentionally work toward.

We are constantly be shown of stories stories of minimalist who have worked their way to the top of the corporate ladder only to realize that true happiness was nowhere to be found.

More often than not, this is how a lot of us come to major realizations in our lives. When we come face to face with something that we don’t want, we begin to get a clearer picture of what we do want.

This is the basis of the entire Rich Minimalist course. Deciding what you want for your life and refusing to let anything stop you from having it. People, obligations, stuff…even money!

You see, the clearer you get about what you want you life to look like, the more you are able to design your schedule and financial plan to support only that life of freedom by making money work harder for you than you work for it. To work on designing your life with intention, use our code: FUNSIZED to save 10% on the Rich Minimalist course!

Why does it seem so many minimalists are millionaires? Can you only be rich to be minimalist or does being minimalist make you rich?

Minimalists aren’t concerned with the trends

Because minimalists intentionally design their lives to look the way they want them to, they become increasingly unconcerned with how other people are living theirs.

When you are not constantly living in a state of trying to keep up with everyone else, or focusing on purchasing the latest trends, you are able to hang onto your money.

By simply being able to avoid the paycheck to paycheck cycle, minimalists are able to create better plans for their money so that they are working toward millionaire status without doing more work.

Other posts you’ll love:

Minimalists master lazy investing

Billionaire investors like Warren Buffett not only live minimalist lives, but actually pride themselves in making things like investing as minimalist as possible as well. In fact he has described his method of investing as “Lethargy bordering on sloth.”

3 lazy ways to start investing:

If you are someone who goes cross eyed trying to understand investing, never fear, here are 3 simple ways you can get started no matter what!

Set up automatic deposits into your 401K

If you currently have a 401K available to you through your work, it is imperative that you start making deposits right away. The best method is to at least meet the company’s match (AKA FREE MONEY FROM YOUR COMPANY).

Here are the steps:

  • Contact HR to set up deposits
  • Diversify your 401K (use Unshakeable as a guide) — If this intimidates you, skip it for now and just set up a deposit.
  • Steadily increase your deposits by 1% every few months

Start a Roth IRA

You can open a Roth IRA with companies like Vanguard. This is a way to begin investing that is separate from a 401K. If you are already contributing to a 401K, adding a Roth IRA is a great step after you have paid off debt.

Here are the steps:

  • Open an IRA with Vanguard
  • Once you’ve contributed $3,000 join the VTSAX fund (Vanguard can help you with this)

Invest your spare change

If we’re being totally honest, let’s face it, some of us will remain so intimidated by inventing that we will never take action to get started. Thankfully, companies like Acorns now this which is why they have made online investing so much easier!

Here are the steps:

Minimalists automate their money

Thankfully we live in a world where automating our money has gotten easier and easier. With online apps like EveryDollar and Mint you can easily plug in your budget and have the apps do the math for you!

Beyond that you can automate your savings, investing, debt payoff and more. Click here to automate savings for only $100 per month!

Minimalists create multiple streams of income

When you have taken the time and effort to free up your time and schedule your life to look the way you want it to look, you free up opportunity to spend your time working in a way that feels purposeful and aligned with you.

For minimalists this often shows itself in the form of several streams of income.

Sure, investing is a passive income stream, but minimalists often don’t stop there.

They will find things like:

Whatever it near and dear to their heart, minimalists tend to navigate toward.

This is the final way that minimalists tend to hit millionaire status. Small, intentional steps that allow them to enjoy their life more every day.

Remember, if you want to set up your own minimalist financial game plan, use code FUNSIZED to save 10% on the Rich Minimalist course.

Pin this!

Why does it seem so many minimalists are millionaires? Can you only be rich to be minimalist or does being minimalist make you rich?