Kathleen Elkins and Libby Kane wrote an article for the Business Insider entitled, 21 Ways Rich People Think differently than the Average Person. Elkins and Kane cite what Napoleon Hill preached in his bestselling 1937 book, “Think and Grow Rich.” They also cite Steve Siebold, who authored, “How Rich People Think.”
Having read and considered the full list of 21 ways that rich people think differently, I found that ten (10) of them resonated with me. However, you can read the original article here.
Here is my list:
1. Rich people have an action mentality … while average people have a lottery mentality. “While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems.
2. Rich people believe in acquiring specific knowledge … while average people think the road to riches is paved with formal education. “Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge. The wealthy aren’t interested in the means, only the end.
3. Rich people think about money logically … while average people see money through the eyes of emotion. “An ordinarily smart, well-educated, and otherwise successful person can be instantly transformed into a fear-based, scarcity-driven thinker whose greatest financial aspiration is to retire comfortably,” Siebold writes. The great ones know money is a critical tool that presents options and opportunities.
4. Rich people follow their passion … while average people earn money doing things they don’t love. “To the average person, it looks like the rich are working all the time,” Siebold says. “But one of the smartest strategies of the world class is doing what they love and finding a way to get paid for it.” On the other hand, members of the middle class take jobs they don’t enjoy “because they need the money, and they’ve been trained in school and conditioned by society to live in a linear thinking world that equates earning money with physical or mental effort.”
5. Rich people use other people’s money … while average people believe you need money to make money. The rich aren’t afraid to fund their future from other people’s pockets. Rich people know not being solvent enough to personally afford something is not relevant. The real question is, “Is this worth buying, investing in, or pursuing?”
6. Rich people would rather be educated than entertained … while average people would rather be entertained than educated. Siebold says, “Walk into a wealthy person’s home and one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful.”
7. Rich people surround themselves with like-minded people … while average people think rich people are snobs. Siebold says, “Rich people can’t afford the messages of doom and gloom.” This is often misinterpreted by the masses as snobbery.
8. Rich people know when to take risks … while average people play it safe with money. “Leverage is the watchword of the rich,” Siebold writes. “Every investor loses money on occasion, but the world class knows no matter what happens, they will always be able to earn more.”
9. Rich people expect to make more money … while average people expect to struggle. Siebold says, “Don’t listen to the naysayers who tell you that life is supposed to be a struggle and that you should settle and be grateful for what you have. You have to think big. Why not $1 million?
10. Rich people KNOW you can have it all … while average people believe they must choose between a great family and being rich. The idea that wealth must come at the expense of family time is a “cop out,” Siebold says. The masses have been brainwashed to believe it’s an either/or equation.” The rich know you can have anything you want if you approach the challenge with a mindset rooted in love and abundance.
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