What Top 5% Income Earners Do Differently When Setting Goals

Ever wonder what separates the top 5% of income earners from everyone else? Spoiler alert: it's not just luck, inherited wealth, or knowing the right people (though those certainly can help). The real differentiator often lies in how these high achievers approach goal setting, and no, it's not just writing "make more money" on a sticky note and hoping for the best.

So, what exactly do these financial overachievers do differently when it comes to setting and pursuing their goals? Let's dive into the five key habits that set them apart from the pack.

Getting Started

The beauty of these habits lies in their simplicity, not their ease. Anyone can start implementing systems tomorrow, begin saying no to non-essential commitments next week, or schedule their first goal review session this weekend. 

Top earners didn't develop these habits overnight, and they didn't wait for perfect conditions to begin. They started where they were, with what they had, and built momentum through small, consistent actions that compounded over time. The same opportunity exists for anyone who wants to trade short-term comfort for long-term business and personal success.

After all, the top 5% isn't a closed club; it's simply a group of people who figured out how to set better goals and, more importantly, how to achieve them. Ready to join the 5% club? 

Put an end to the procrastination cycle and make progress on your goals with my Guide to Stopping Procrastination! Download my complimentary Guide now by going to https://www.accountabilitycoach.com/podcast. 

I’m the author of many books, including, Excuses Don’t Count; Results Rule, Live Life with No Regrets, No Excuses, The Guide to Stopping Procrastination, The Power of Visualization, My Gratitude Journal, the Work Life Balance Emergency Kit, and The Roadmap To Success with Stephen Covey and Ken Blanchard, and more.  

Aim for what you want each and every day!  

Anne Bachrach

The Accountability Coach™

If you are getting value from any of my episodes, please take a minute to leave me a short rating and review. I would really appreciate it, and love to hear from you.

Unlock a blueprint to creating and having your ideal business and ideal life by scheduling your free consultation with me today!

Want more proven business success tips and resources? Subscribe to my blog by going to www.acountabilitycoach.com/blog.

Go to https://www.accountabilitycoach.com to check out for yourself how I, as your Accountability Coach™, can help you get and stay focused on you highest payoff activities that put you in the highest probability position to achieve your professional and personal goals, so you can enjoy the kind of business and life you truly want and deserve.

I’m the author of many books, including, Excuses Don’t Count; Results Rule, Live Life with No Regrets, No Excuses, The Guide to Stopping Procrastination, The Power of Visualization, My Gratitude Journal, the Work Life Balance Emergency Kit, and The Roadmap To Success with Stephen Covey and Ken Blanchard, and more.

Aim for what you want each and every day!

Anne Bachrach

The Accountability Coach™

Get your daily Accountability Minute shot of a single, simple, doable idea, so you can start your day off on the "right foot". You can find The Accountability Minute on your favorite platform

Transcript

What Top 5% Income Earners Do Differently When Setting Goals  

Ever wonder what separates the top 5% of income earners from everyone else? Spoiler alert: it's not just luck, inherited wealth, or knowing the right people (though those certainly can help). The real differentiator often lies in how these high achievers approach goal setting, and no, it's not just writing "make more money" on a sticky note and hoping for the best.

According to data from the Federal Reserve's Survey of Consumer Finances, households in the top 5% of income distribution earned $342,987 or more annually as of 2022. Here's the kicker: many of these high earners weren't born into wealth. They developed specific habits and mindsets that propelled them to financial success, and goal setting sits at the heart of their strategy.

So, what exactly do these financial overachievers do differently when it comes to setting and pursuing their goals? Let's dive into the five key habits that set them apart from the pack.

1. They Think in Systems, Not Just Goals
While most people set goals like "earn six figures" or "get promoted," top earners think differently. They focus on building systems and processes that naturally lead to their desired outcomes. Instead of fixating solely on the end result, they engineer their daily routines, habits, and decision-making frameworks to consistently move them forward toward the achievement of their goals. 

Take the goal of earning more money. Average goal setters might simply declare they want a 20% raise in what they pay themselves. Top earners, however, build systems around skill development, networking schedules, performance tracking, and value creation metrics. They understand that goals are just the destination; systems that they consistently utilize are the vehicle that gets them there.

This approach eliminates the boom-and-bust cycle that plagues many ambitious entrepreneurs. Rather than experiencing brief bursts of motivation followed by inevitable burnouts, they create sustainable momentum through deliberate daily actions.

2. They Embrace Ruthless Prioritization
High earners have mastered the art of saying “no,” a skill that's apparently harder to learn than quantum physics for most people. They don't just prioritize their goals; they ruthlessly eliminate everything that doesn't directly contribute to their primary business and life objectives.

Warren Buffett once said, "The difference between successful people and really successful people is that really successful people say no to almost everything." This isn't about being antisocial or missing out on life's pleasures. It's about understanding that time and energy are finite resources, and top performers allocate these resources with surgical precision.

 This means declining social commitments that don't align with their goals, avoiding "busy work" that feels productive and, yet, doesn't move the needle, in addition to sometimes making uncomfortable choices about how they spend their time. While others spread themselves thin across dozens of half-hearted pursuits, top earners concentrate their efforts on the few high payoff activities that matter most.

3. They Set Uncomfortably Specific Metrics
Vague goals produce vague results, a lesson top earners learned early in their careers. Instead of setting wishy-washy objectives like "improve performance" or "grow the business," they establish uncomfortably specific metrics that leave no room for interpretation or self-deception.

Rather than aiming to "network more," a top earner might commit to "attending two industry events per month, connecting with five new professionals weekly on LinkedIn, and scheduling three coffee meetings with potential mentors, prospective clients, or centers of influence each quarter." This specificity serves two purposes: it eliminates ambiguity about what success looks like, and it makes it impossible to pretend they're making progress when they're not.

This obsession with specificity extends to timelines, resource allocation, and success metrics. Top earners don't just know where they're going, they know exactly when they plan to arrive and what the journey will look like for them.

4. They Plan for Failure (Yes, Really)
Here's where top earners separate themselves from eternal optimists who believe positive thinking alone will solve all problems. High achievers don't just plan for success; they actively plan for failure, setbacks, and obstacles. This isn't pessimism; it's strategic realism.

They conduct "pre-mortems" on their goals, imagining all the ways their plans could derail and developing contingency strategies in advance. They build buffer time into their timelines, set aside emergency resources, and identify early warning signs that something isn't working. When obstacles inevitably arise, because they always do, top earners are ready with Plan B, C, and sometimes D.

 As entrepreneur and investor, Naval Ravikant noted, "The people who succeed are the people who can handle uncertainty and volatility while staying focused on their long-term vision." This mindset transforms setbacks from crushing defeats into temporary inconveniences that were already accounted for in the master plan.

Applying Strategic Thinking practices to your business will accelerate your success by allowing a crystal-clear focus to drive daily tasks - for you and your team.  Download my complimentary strategic thinking model by going to https://bit.ly/Strategic-Thinking-Exercise  

5. They Review and Adjust Relentlessly
Most people set goals in January and remember them again sometime around November or December (usually with a mixture of guilt and disappointment). Top earners, however, treat goal setting as an ongoing process that requires constant attention and adjustment.

They schedule regular review sessions, weekly, monthly, and quarterly, to assess progress, identify what's working and what isn't, and make necessary course corrections. This isn't just about tracking whether they're hitting their targets; it's about understanding why they're succeeding or failing and adapting their approach accordingly.

This habit prevents them from spending months or years pursuing goals that are no longer relevant or strategies that aren't producing results. While others stubbornly stick to plans that clearly aren't working (because admitting failure is uncomfortable), top earners pivot quickly based on data and feedback.

They also aren't afraid to abandon goals that no longer serve them. As priorities shift and new opportunities emerge, they're willing to let go of previous objectives that might be holding them back from bigger wins.

The Uncomfortable Truth About Success
Here's the reality that most self-help gurus won't tell anyone: becoming a top earner requires more than just better goal setting habits. It demands a fundamental shift in how one thinks about time, priorities, and trade-offs. It means accepting that every "yes" to one thing is a "no" to something else and making those choices deliberately rather than by accident.

The good news? These habits aren't reserved for people with MBAs from prestigious universities or trust funds from wealthy relatives. They're learnable skills that anyone can develop with enough commitment and practice. The bad news? Developing these habits requires the kind of discipline and consistency that makes watching paint dry seem exciting by comparison.

For those willing to embrace the discomfort of real change, the rewards can be substantial and game changing. Top earners don't just make more money; they build the systems, relationships, and skills that create lasting wealth and career satisfaction.

The question isn't whether these habits work (the evidence is pretty clear on that front). The question is whether you are willing to do the unglamorous work required to implement them consistently over time. As it turns out, that willingness might be the most important differentiator of all.

Getting Started

The beauty of these habits lies in their simplicity, not their ease. Anyone can start implementing systems tomorrow, begin saying no to non-essential commitments next week, or schedule their first goal review session this weekend. 

The challenge isn't understanding what to do; it's actually doing it consistently enough for these practices to become second nature.

Top earners didn't develop these habits overnight, and they didn't wait for perfect conditions to begin. They started where they were, with what they had, and built momentum through small, consistent actions that compounded over time. The same opportunity exists for anyone who wants to trade short-term comfort for long-term business and personal success.

After all, the top 5% isn't a closed club; it's simply a group of people who figured out how to set better goals and, more importantly, how to achieve them. Ready to join the 5% club? 

Decode the mega successful mindset habits that set them apart by going to 

https://bit.ly/mindset-habits. 

To discover 5 easy ways high performers maintain consistent energy, go to https://bit.ly/Consistent-Energy. 

Put an end to the procrastination cycle and make progress on your goals with my Guide to Stopping Procrastination! Download my complimentary Guide now by going to https://www.accountabilitycoach.com/podcast. 

Unlock a blueprint to creating and having your ideal business and ideal life by scheduling your free consultation with me today! 

Are you ready to take your business to the next level? Get the proven strategies and resources you need for massive success. Subscribe to my blog now by going to https://accountabilitycoach.com/blog and start transforming your business today!

Get your daily Accountability Minute shot of a single, simple, doable idea, so you can start your day off on the "right foot". You can find The Accountability Minute on https://www.accountabilitycoach.com/my-podcast/ as well as on most podcast platforms and in most English-speaking countries.

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Go to https://www.accountabilitycoach.com to check out for yourself how I, as your Accountability Coach™, can help you get and stay focused on you highest payoff activities that put you in the highest probability position to achieve your professional and personal goals, so you can enjoy the kind of business and life you truly want and deserve. 

Check out my proven business accelerator resources by going to https://www.accountabilitycoach.com/coaching-store/.  

I’m the author of many books, including, Excuses Don’t Count; Results Rule, Live Life with No Regrets, No Excuses, The Guide to Stopping Procrastination, The Power of Visualization, My Gratitude Journal, the Work Life Balance Emergency Kit, and The Roadmap To Success with Stephen Covey and Ken Blanchard, and more.  

Aim for what you want each and every day!  

Anne Bachrach

The Accountability Coach™

If you are getting value from any of my episodes, please take a minute to leave me a short rating and review. I would really appreciate it, and love to hear from you.