Written by: Corey Jahnke, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
If you’re feeling the grips of serious financial burdens or burnout right now, have a moment for yourself to take a deep breath. I have been where you are right now, and I understand how much impact this is having on your life and overall wellbeing.
Let me introduce myself. I am Corey Jahnke, I am a pharmacist, turned financial consultant and, in short, I want to help you make your life a whole lot better.
So, why should you listen to me, and what have I got to offer you?
I have gone from living in a spiraling pit of financial despair and insecurity while working a high pace job and living an extravagant lifestyle I couldn’t afford into living a life of financial security, stability, and even with some savings built up! Something I had never even dreamt of before.
Just to put things in perspective, let me tell you just how bad things had gotten for me.
Even though I had what was deemed a ‘good job,’ I was spending more than I ever earned and didn’t know how to manage my finances ‒ at all.
I ended up in around $536K of debt, burnt out, and completely exhausted.
Then, I lost my hospital job and had NO IDEA how I would recover. In those moments, I was far from the Zen I feel right now.
I decided to stop my cycle and focus all my energy on understanding money, structuring my finances, and learning from millionaires themselves. I’ve found that millionaires have a very different way of thinking about their finances than we may think.
For them, it’s not about luxurious living or looking rich in the eyes of others. Instead, it’s about being principle-focused, values-based, and wealth-driven.
Rarely, if ever, are they concerned with showing their wealth to others or flashing the cash to impress a friend. The only person a self-made millionaire is trying to sustain is themselves in line with their personal goals.
It’s not selfish; it’s smart.
With such a massive focus on their own satisfaction and stability rather than the idea of perceived wealth or extravagant lifestyles ‒ there is A LOT we can learn from the millionaire mindset.
Poorer people, on high wages, tend to do the opposite of this, often living outside of their means, moving further and further into debt, and wanting to show the ‘wealth’ they have earned from their high-end role. If this sounds all too familiar, I hope that you’ll stick around.
Set Clear Goals
The first thing I noticed about all of the self-made millionaires I met is that they are very clear on who they are and what they want in life.
They set goals in all of the critical areas of their lives. If it matters to them, you can be sure they have a plan or goal around it.
Self-made millionaires (and stability) don't happen by chance; they flourish through killer plans that move life in a different direction.
That's why millionaires don't just consider a goal, wavering or waffling back and forth on what they want to achieve. No, absolutely not.
Instead, they write down their goal, making it as clear as possible what they want to achieve.
Why?
Because when it is this clear, it becomes more and more tangible. When it is tangible, it becomes impossible to ignore or bat away for a later day.
When a clear goal is set, there is no wiggle room to manoeuvre around it; you either get it done or you don't. That's up to you.
Most millionaires think of their goals as promises to themselves and their families. With their own satisfaction and stability on the line ‒ they do not wish to break their goals or run the risk of not achieving what they set out to achieve.
Your goals should be a promise to yourself, too.
Just remember, when starting out, goals are all about setting achievable targets. Achievable is the main word to focus on here.
No one stumbles into wealth blindly ‒ they achieve it through tireless determination, expert navigation, and organization of what they already have.
Become An Unshakeable Optimist
Instead, it’s about choosing to think positively in almost every situation, rather than being instantly defeated by something the moment it goes wrong or gets hard.
Like any of us, Millionaires aren’t immune from problems and disappointments.
So, what’s the main difference?
They plan for setbacks; they have the confidence to overcome them and move forward despite them.
Optimists never let anything get in the way of their dreams and goals. Instead, they keep chipping away until they find a way over the obstacle standing in the way of achieving their goal.
For an optimist, achieving a goal is not an option; it’s a certainty. With this optimistic mindset alone, they have a much higher chance of making it happen ‒ and you can make it happen, too.
It’s heartbreaking working through financial struggles and burnout. However, by spiralling further and further down with it, growing more negative, the bleaker your situation becomes, you’ll be going nowhere fast.
It’s time to start thinking of your future with a different lens. Think of it as a possibility rather than a responsibility. That’s when the shift will move in a new and optimistic direction.
Always Pay Your Savings First
Millionaires know that every cent of their income is valuable.
That means before they spend ANYTHING, they save what they can. This is how they ensure their wealth can continually grow in the direction they want it to.
They immediately prioritize their future security through automatic withdrawals taken from their initial budget rather than thinking of all the things they can instantly buy with their income.
Poorer people tend to think of money from a different perspective. That means money comes in at the start of the month; they spend what they want and hope there is something left over that they might save later.
The result?
No money ever goes into savings. Spending before you save is dangerous. It gives the illusion of having more money than you actually should, and the likelihood that you'll spend it rather than keeping it at the end of the month is incredibly high.
Changing your mindset and prioritizing saving over your immediate wants is far safer than the other way around ‒ if you genuinely want to build financial stability. This shift doesn't come naturally. It takes sacrifice and discipline, which leads us to our next point.
Master Your Self Discipline
Sacrificing short-term pleasures leads to long-term results.
The truth is every self-made millionaire has created a willingness to make sacrifices in the past to get to where they are right now. They continue to make those sacrifices to accelerate to where they want to be in the future.
Becoming financially stable isn't something that ever happens by accident.
It comes through determination, flexibility, and vision that it will pay off down the line if you do the right thing now.
On the other hand, living a lavish life with immediate gratification in a cash-in, cash-out system will never result in savings in the bank or the security you desire.
Self-discipline and long-term vision are all part of the process for self-made millionaires ‒ and it is something you need to adopt if you're determined to change your life for the better.
Create A Budget. Then, Stick To It!
How you view a budget will impact how you use it.
A budget doesn't need to be restrictive. Instead, you should consider it as freeing ‒ bringing you closer and closer to where you want to go.
A budget gives you the freedom to have buffer money should something ever go wrong. It provides you with the stability to take care of your family, repair your home, go on vacation, or do whatever it is you need to do at that moment in time.
Making a financial plan and knowing where your money is coming in and going out is the only way to create this security buffer.
When creating a budget, it needs to be thorough. It can't be a rough estimate of your earnings and your spending ‒ instead, it should account for every dollar.
Only when you have that overview can you start to see where you can make some cuts to increase your savings and, in turn, your stability and mental burden.
Be Honest.
Being money smart and gaining stability is about brutal honesty rather than denial.
Poorer people tend to live on the edge, spending every dollar because they feel they deserve it. However, the main person they're lying to is themselves.
This is part of what causes the extreme mental exhaustion you may be experiencing right now. All this time, you've been gaslighting yourself so much that you no longer know what is true, what is honest, or where the hell your money is going.
It's time to stop the pattern. Take responsibility, account for your budget, and KNOW without a doubt where your money is being spent, what you can afford, and what you should be saving.
I mean it when I say ‒ the truth will set you free! The more you know, the more power and flexibility you have to fix it. This freedom equals your long-term stability (and sanity).
Get Organized. Stay Organized.
Keeping organized is key to financial stability and mental clarity. If your world is chaotic, you will be viewed as chaotic, too.
Most millionaires account for each minute of the day. Their lives are extremely busy, just like ours ‒ so organization is key to their success. They know what they should be doing and when, and they even understand why they’re doing it (as it generally has to do with working towards their greater goals).
Now it’s our turn to take a leaf from their organizational book.
Start by organizing your space and decluttering your home or desk. From there, your mind will start to clear, and your vision will gain focus.
Disorganization and stability do not go together.
When things get messy, and you don’t get organized, you stand in your own way, creating a destiny filled with mental anguish and despair.
Refuse To Lose Money
Far too often, people have an attitude of ‘let’s just take it out of the ATM’ or ‘put it on my card ‒ I’ll take care of it next month!’
A poor mentality like this will result in wasted money.
When you lose track of your spending, you lose control of your future.
This behaviour is toxic and is likely causing you significant stress. Kicking your responsibility further and further down the line doesn’t make it disappear; it allows it to grow so big it begins to suffocate you.
Self-made millionaires are generally generous.
However, they aren’t ashamed to say no when it’s not what they want to spend their money on or when it doesn't fit into their budget and planning.
They are focused on their own progress rather than instant gratification or the pleasure of others.
Refusing to waste money on things you hadn’t planned for helps you to gain clarity. It will also highlight where you have lost so much money in the past.
Keep It, Super Simple
Self-made millionaires know their strengths; they know their niche.
They don’t try to be a jack of all trades; they focus on the areas of life they are really good at and work to improve the areas they wish to excel in. They keep it simple, black and white, with little to no grey areas in their lives.
Your route to success should be straightforward, too. That means you should know precisely what makes you remarkable and keep in mind the areas you’re not so good at.
Poorer people tend to over-commit themselves in the areas that they are not excelling in.
Overcommitment leads to overextending, and overextending leads to exhaustion.
Self-made millionaires tend to focus only on working in an area that they’re excellent in navigating. This helps them to progress faster rather than getting weighed down with the things they aren’t good at or becoming committed to something that bores them.
Keep it simple. Know your strengths. Understand your weaknesses. Progress.
Be The Best
Number 10 comes directly from what we talked about in number 9.
Don’t waste time being mediocre. You’re great at something, so find it and stick to it. That’s your moneymaker. That’s your path to unburdened success.
The self-made millionaire’s mindset is about taking every step necessary to get to the top of their game. They will read every book, go to every seminar, hire the best coaches and work the hardest in their field to catapult themselves to the top, to prove they are the best at what they do. They are not interested in cutting corners or hoping for a promotion they did not earn. They earn it by proving they are the best.
Did you know?
80% of the money made in any field is earned by the top performers in a sector. The remaining 20% is left for the rest of the people to scramble for.
Read that again before moving on to the next point.
You Need To Think Long-Term
Long-term gains overrule short-term gratification ‒ always and forever.
You should never sacrifice your long-term goals for short-term opportunities. This is detrimental to your stability, and it will mean you lose the focus you need to get to where you aim to go.
Think about it.
Your investments will multiply exponentially in 20 years' time IF you start today.
What will happen when you waste your money on short-term wants instead of your long-term investment potential?
It all begins today.
Thinking long-term starts with a tiny step. All those small steps add up to a marathon you'll be proud to have run.
Practice Gratitude
As you have seen so far, most millionaires’ secret habits come down to their mindset.
One of the best ways to transform your mindset is by showing gratitude every day for what you have and what you have achieved so far.
Optimism opens opportunities. The laws of attraction reward people who are thankful for what they have already received. When you show gratitude, you attract the things you deserve ‒ that can come in the forms of people, things and money.
If you’re negative and annoyed by what you already have, you will continue to attract negative things into your life. Negativity spurs more negativity.
I cannot speak highly enough of how the impact of showing gratitude can change your perspective on life.
It’s a game-changer that gives you the momentum to keep ongoing.
It helps you understand what you’re doing and appreciate every step of the journey towards where you want to be.
Remember.
Gratitude Ignites. Gratitude Attracts. Gratitude Accelerates.
It gets us to where we want to be.
Join A Mastermind Group
Great colleagues, mentors, coaches, and inspirational people ‒ these are the people you should be surrounding yourself with. These are the people millionaires seek out and choose to have in their lives.
Joining a mastermind group is better than any of the other traits mentioned throughout this guide. It helps you focus, gain inspiration, and move with intention. Surrounding yourself with people who aspire for more in their lives will help motivate you to move with them.
In a mastermind group, everyone wants you to succeed. A team and a support system like this will drive you like nothing else; it will exponentially improve your ability to get the desired results and keep you focused as you move along your path.
Inspiration breeds inspiration. Goals spark goals.
Surround yourself with the right people, keep yourself focused and move towards where you want to go, collectively and independently.
Consider A Life Coach
You don't need to reinvent the wheel; the systems and ideas in this world already will help you get to where you want to be.
Hiring a life coach can help you see where things are going wrong, where things are going right and what steps you should take to progress in the way you want to.
Every self-made millionaire has a budget to reinvest in themselves through things like self-care and life coaches.
This helps them to maintain their clear vision and focus. It's not about splashing out, it's all part of moving towards their ultimate goal.
Investing a percentage of your money back into yourself will reap the highest results. When you invest in yourself, you give yourself the power to improve, motivate and focus your vision on where you want to go.
Doing this with a life coach will speed the process up exponentially.
Commit To Life-Long Learning
Thinking you know everything you need to know is limiting your thoughts. It’s placing an obstacle in front of your potential.
Millionaires never claim to be experts in everything, they may be the best in their field, but they won’t speak about something they know nothing about. If it’s something that interests them, they commit to becoming a lifelong learner, seeking to broaden their skillset, reading books on the topic, studying more, engaging with different people who have insights on the topic.
Why?
To learn, learn, learn something they don’t already know. To truly excel, you need to have the same thirst for knowledge.
Did you know?
65% of self-made millionaires are avid readers and commit to reading a book or two per month. Some read a book a week giving themselves an unfair advantage over the general public.
Live Within Your Means
In the book “The Millionaire Next Door,” authors Stanley and Danko share their extensive research on how millionaires spend their money. The average self-made millionaire spends less than they earn by 30 to 40 percent, saving and investing the rest.
Ordinary people spend far more on luxury items than their income allows and thus spend their lives constantly trying to exit a hole they continue to excavate.
So, what’s the answer?
Making a budget and sticking to it.
Imagine not having the constant panic of missing a payment due to a lack of funds in your account? Imagine if you had a budget in place that already covers all of your bills?
Take a moment to visualize what that peace would bring for you.
The only way to get everything you want is to learn to live with less. Keeping within your means is the first MASSIVE step to reduce stress and increase stability.
The more you give, the more you will get in return. Saving and budgeting aren’t about being tight with your money for no reason.
Give, Give, Give ‒ & With Joy
When you can, and when it works with your budget, give generously.
It’s about removing any unnecessary spending to redirect your money to the places it can make a difference for you, for your family, and for others, too. The most important thing about giving is that you do it with the expectation that you will receive nothing in return.
If you’re giving in the mindset of receiving, you’re not looking to give; you’re looking for a transaction.
Understand The Importance Of Memorable Experiences
Did you know?
45% of retirees wish they spent more time with their family during their working years.
90% of self-made millionaires report that time spent with family was their best investment yet.
Making memories with your loved ones doesn’t need to cost money. It’s about spending quality time together ‒ and nothing else.
Spending time with loved ones will help your stress decline. When your stress declines you find more and more ways to avoid overstretching and overburdening yourself in the future, as you begin to focus on what truly matters in your life.
Making memories with your loved ones doesn’t need to be lavish and expensive. Find the ordinary extraordinary. Don’t prove your love with money and flash, show it with time, patience and presence.
Never Stop Dreaming
Success doesn’t just happen. It all begins with a dream. Every self-made millionaire once dreamt of getting to where they are today.
Setting goals, as we talked about earlier, is helpful to get the ball rolling towards stability and success. But dreaming, and dreaming big, is essential in generating more goals so that your aspirations never run dry. Dreams keep us motivated; they help us maintain our focus on where we want to go and see the paths we need to take to get there.
Never be afraid of dreaming too big. They’re supposed to be wild ‒ it’s what gives us the enthusiasm to live life with a passion and purpose, just as we deserve.
The Big Picture Moment
The Pareto Principle says that 20% of your actions will drive 80% of your results. Self-made millionaires know what is essential and put most of their attention in those areas 80% of the time.
Your dreams and goals should be wild. However, they should also take the bigger picture into account. Think about it “how will this play into my bigger plan?”, “will this purchase move me in the direction I want to go?”, “is this action helping me to move in the right direction?”
Your vision should never sway from the bigger picture. When it does, you run the risk of losing yourself, your focus, and your direction with it.
Do The Things Others Aren’t Willing To Do
The difference between successful and unsuccessful people is that successful people have made a habit of doing the things that unsuccessful people do not want to do. Successful people do not want to do them either, but they do them anyway.
Every self-made millionaire has made sacrifices ‒ through the things they’ve done, the restrictions they’ve set, and the discipline they’ve shown. That is how they have gotten to where they are today. That is how you can get to where you want to be tomorrow.
Finding your way out of debt and burnout is a process. It starts by setting boundaries, realigning your goals, and seeking the internal peace and stability you need to not allow it to happen again.
This is your reminder ‒ there is a way out. You can get your life back.
You can take control of your situation, just like I did.
Where you are right now, is not where you need to be next year.
The first step I took to get out of my situation was to hire a financial planner who could help me see the light, create a structure and stabilize my life.
This is how you can move from an overextended life into one of stability and clarity.
And, remember, you’ve got this!
In your corner,
Corey J.
Corey Jahnke, Executive Contributor Brainz Magazine
Over the course of his highly successful healthcare career, Corey Jahnke has gone from getting killed to killing it. If you've ever felt like you were stuck, drowning in the day to day firefighting and being micromanaged, Corey can relate to you. After 30 years in healthcare, he finally found his way out of the doldrum experienced by so many; now, Corey helps others get reengaged much faster than he did.
Typically, the people Corey meets in the corporate environment are right where he was – lost and, to some degree, disenchanted with their industries. But, here's what Corey found and teaches in his book, "The Successful Thinker":
You can have peace of mind.
You can keep your integrity
You can spend time with your family and still be successful
You can achieve spiritual and vocational life fulfillment
You can make a meaningful contribution
You can develop your creative imagination and make life FUN again
If you're stuck in the corporate hamster wheel and your life sounds like Corey's did, Corey would love to have a virtual cup of coffee and help you get to your dream life.
Corey@CoreyJahnke.com
715-651-6908
Book an Appointment @
