The article is not an original content this is taken from Steve Siebold writing’s
Mr. Steve Siebold writings are real discoveries that he has collected over a period of 26 years. His book How Rich People Think is top-rated. The difference is huge since they are numerous.
- 1 Average People focuses on saving… Rich People focuses on earning.
- 2 Average People thinks about spending… Rich People thinks about investing
- 3 Average People has a lottery mentality… Rich People has an action mentality
- 4 Average People plays it safe with money… Rich People takes calculated risks
- 5 Average People believes you have to do something to get rich… Rich People believes you have to be something to get rich
- 6 Average People waits for their ship to come in… Rich People builds their own ship
- 7 Average People believes financial markets are driven by logic and strategy… Rich People believes financial markets are driven by emotion and greed
- 8 Average People lives beyond their means… Rich People lives below their means
- 9 Average People thinks small… Rich People thinks big
- 10 Over to You
Average People focuses on saving…
Rich People focuses on earning.
Saving is utterly necessary one should not ignore on saving in life. Focusing only on saving all the time is what worrisome. There is a limit to how much maximum you can save. Talking about earning there is no limit on the upside. Middle-class focus on the saving. World class focus on finding new opportunities to solve bigger problems and serving people.
Average People thinks about spending…
Rich People thinks about investing
The rich know that the world is overflowing with wealth disguised in problems. The middle class is thinking about spending all the time. There are often pressurized by financial experts to save more all the time.The fault is not on them being spendthrift, but their earnings are limited. They do not focus on additional avenues of passive income.
Average People has a lottery mentality…
Rich People has an action mentality
Every person that I have spoken to who is middle-class investor wants to make money fast. The stock market is often considered a lottery ticket for many. I instantly recollected The J-Curve Model of Thinking, Living, and Investing by Vishal Khandelwal beautifully explained with an excellent example of a mid-life crisis. Rich people are usually go-getters. They want things to be done, and they keep hustling all the time.
Average People plays it safe with money…
Rich People takes calculated risks
How many millionaires do you know who have become wealthy by investing in saving the account?
The risk is very often associated with a loss which is undeniable. Having said that calculated risk could be easily be replaced with risk. They have the opportunity to be more experimental and more is their exposure for success. There are losses which rich people face, but their gains are much more than the entire losses. On the other hand, average people are looking at their comfort zone, and fear of losing money & not getting it back makes them play very safe with the money.
Average People believes you have to
do something to get rich…
Rich People believes you have to be something to get rich
Rich people mostly focus on being capable of getting their desired results. They are not afraid of their failure because they are learning and growing all the time and they accept failure as a part of their process. Average people are busy with their activity. They are occupied with their activity which keeps them busy all the time not realizing that they might be losing on productivity.
Average People waits for their ship to come in…
Rich People builds their own ship
This the difference between looking for an opportunity and creating one opportunity. In times of adversity rich know, no one is going to come to their rescue and life is going to be uncommon. The average people are going to wait for a godfather to come to their rescue. They wait for things to happen and come to them. Whereas the rich don’t wait for things to happen, they go and make it happen.
Average People believes financial markets
are driven by logic and strategy…
Rich People believes financial markets are driven by
emotion and greed
Rich people find endless ways to overcome the quarrel between the greed and fear. They focus that none of the emotions should take over their investing acumen. Average people either don’t find their comfort with financial markets or they have considered that you need money to invest in the financial market. If they entire the financial market they work on strategy and logic.
Average People lives beyond their means…
Rich People lives below their means
The greatest financial wizard could not pull things off that how can an average people save money from what very little they earn. Doing more with less is the habit of average people which gives them sleepless nights. On the other hand, the rich people think of creative and innovative ways to create passive income opportunities. There are only limitations in the belief they have.
Average People thinks small…
Rich People thinks big
Ordinary people are more interested in gossip, drama and other peoples life all the time. They consume a massive amount of mental energy with what little they have. On the other hand, rich people are focused on problem-solving, skill building and seeking opportunities. The rich follow the Blue Ocean Strategy to enter into the uncontested market and looking for opportunities with their problem-solving skills to create a capable person out of themselves.
Over to You
The list is endless since it is numerous. I have covered points which according to me are the most vital.
The point which I was told is they are already rich or inherited richness. So the comparison can be biased which is so not true. Because what makes you and what keeps you at the top are all the same.
Like I have taken the benefit of the above points I am sure some of you will start implementing the same. You must read the book written by Mr. Steve Siebold named How Rich People Think.
I am sure things would not be the same before reading this article and after reading this article.
Do let us know in comments you have any other points to add, or you have benefitted from some of the points.
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Also published on Medium.