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I’ve interviewed more than 100 millionaires—here are the 3 habits that made them ultra wealthy

Everyone approaches money differently, and I’ve always been fascinated by how the world’s wealthiest people do it.

As a CEO and host of the podcast “We Study Billionaires,” I’ve interviewed 25 billionaires and more than 100 millionaires, including prominent investors like Howard Marks and Cathie Woods.

What have I learned from them? For starters, rich people don’t have a “lottery mindset” — or the belief that there’s a shortcut to instant wealth by virtue of random luck.

Here are three habits they share that anyone can adopt:

1. Rich people don’t act on fear or impulse.

2. Rich people are patient and think long-term.

3. Rich people say “no” more than they say “yes.”

I recently interviewed billionaire David Rubenstein, co-founder of private equity firm Carlyle Group. He is a philanthropist who serves as chairman on several boards. He is also the author of three books and host of PBS’ “History with David Rubenstein.”

When I asked him how he gets so much done, he was quick to note all the things he did doesn’t do: No golf, no drinking alcohol, no binging on Netflix. He avoids all the things that he believes drain his time.

Billionaire Jesse Itzler agrees about the power of saying “no.” Itzler is the co-founder of Marquis Jet, one of the world’s largest private jet card companies, a partner in Zico Coconut Water, the founder of The 100 Mile Group and an owner of the NBA’s Atlanta Hawks.

“Your 20s and 30s are a great time to say ‘yes,'” he told me in a podcast interview. “You want to network, get exposure and build. But your late 40s and beyond are a great time to say ‘no’ and take full control of your time.”

His tip for saying “no” to someone gracefully: “Follow up with something amazing. Send a dessert or pick up a bill. Choosing not to do something doesn’t mean you have to be out of the game.”

Trey Lockerbie is the CEO and co-founder of the kombucha brand Better Boochand host of the podcast “We Study Billionaires.” Follow him on LinkedIn spirit Twitter.

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Want to earn more and work less? Register for the free CNBC Make It: Your Money virtual event on Dec. 13 at 12 pm ET to learn from money masters like Kevin O’Leary how you can increase your earning power.

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