If you want to be a millionaire, you have to change one major thing

It seems like an elusive dream for many, but with one simple change you could become a millionaire, experts have stated.

Most people think financial freedom is about finding the perfect investment.

The right stock. The winning property. The unicorn side hustle.

But the real game-changer isn’t an asset; it’s the mindset.

Over the years, we’ve had the privilege of guiding thousands of Australians — from first-time investors to seasoned wealth builders — through the highs, lows, and lessons of the investment journey.

And through it all, one truth has stood the test of time: you can’t out-invest a scarcity mindset.

The $1 Million Shift

What if we told you that the right mindset could be worth over $1 million to you?

We’re not exaggerating. Let’s say you’re 35 years old and decide to invest $1,000 a month in a balanced portfolio that returns 7% annually. By the time you’re 65, you’ll have over $1.2 million.

But what’s the real barrier to doing that? It’s not market knowledge nor access to the ‘best’ ETF or property deal. It’s belief. Belief that the sacrifice today is worth the reward tomorrow. Belief that your money habits matter more than your income. Belief that long-term wealth is built quietly, not quickly.

Many dream of living a millionare's life. Picture: iStock

Because without the right mindset, even the best investment strategy will eventually unravel.

Fear, doubt, procrastination, or short-term thinking will creep in, and before long, decisions get delayed, opportunities are missed, and financial progress stalls.

Keep It Simple, Stick to the Plan

There’s a lot of noise out there. Think the latest investing trends that pop up every week like Crypto, AI stocks, flipping properties, NFTs — you name it.

But here’s what we’ve seen hold true over and over again: The best investors are the ones who keep it simple and stick to the plan.

They don’t chase fads or try to time the market. They understand that the boring stuff works.

That means:

-Spending less than you earn

-Investing the surplus in quality assets

-Holding them for the long term

-Letting compound growth do its thing

Whether you invest in property, shares, super, or a bit of everything — the core principles don’t change.

There are a few tricks to become richer. Picture: iStock

Know Your Number — And Why It Matters

Another mindset game-changer? Getting clear on your financial number.

How much income do you actually need in retirement to live the life you want? For some, it’s

$60K a year. For others, it might be $150K.

The number isn’t the point — it’s the clarity that matters.

Once you know your number, you can start working backwards. You can make informed decisions about how much to invest, what to invest in, and how long you need to stay the course.

That clarity helps you avoid the panic, the FOMO, and the second-guessing that trips up so many investors.

You’re no longer reacting, you’re executing a plan. And when that plan is tied to your actual lifestyle goals, it becomes a lot easier to stay motivated.

From Consumer to Investor

One of the biggest mindset changes we see in successful investors is a shift in identity.

Once they know their lifestyle goals and what they’re working towards, they stop seeing themselves as just spenders and start seeing themselves as wealth builders.

This plays out in everyday decisions. Instead of asking, “Can I afford the repayments?” they ask, “Will this help me build long-term financial security?”

A millionaire's lifestyle is a dream for many. Picture: iStock

Instead of thinking, “I deserve this now,” they think, “How does this fit into my bigger picture?”

This isn’t about cutting out coffees or never taking holidays. It’s about getting intentional. It’s about understanding the opportunity cost of every dollar and deciding what your future is worth to you.

You Don’t Need to Be Perfect

In the wise words of James Clear: You don’t rise to the level of your goals; you fall to the level of your systems.

But here’s the truth most people miss: your systems are shaped by your mindset. If you want to reach financial freedom, it’s not just about what you invest in.

It’s about how you think.

You need to believe that your financial freedom is possible. You need to learn the rules of money (and unlearn a few too).

You need to see yourself as someone who builds wealth, not waits for it, because here’s what we know: If you can shift your mindset, the money will follow.

And it might just bring an extra $1 million with it.

Bryce Holdaway and Ben Kingsley are two of Australia’s leading voices in property, finance, and money management. Together, they co-host the chart-topping podcast The Property Couch, where they’ve helped millions of Australians cut through the noise and build wealth the right way. Their new book, How to Retire on $3,000 a Week: The Property Couch’s Playbook for Passive Property Investing, is out now.