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Seven differences in thinking between the rich and the middle class

Discussion in 'BlackHat Lounge' started by mattcash, Nov 3, 2011.

  1. mattcash

    mattcash Newbie

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    This was just sent to my inbox this AM from one of the forums I frequent. I think its some useful info. Thoughts?

    Sadly I can't yet link the source :(

    A new report from a research arm of congress says the rich are getting richer. The average household income for the nation?s top 1% nearly tripled from 1979 to 2007, while middle class incomes grew by less than 40%. How do you break into that top 1%? It starts with your mindset.

    Do you think like a millionaire? Most people don?t and that?s what?s holding them back from life-long wealth. The differences in thinking between the middle class and the wealthy are extreme, and the underlying factor in how much money one is capable of earning. If you want to be rich, learn how rich people think, copy them, take action and get rich. Here are seven differences in thinking between the middle class and the rich to help you get started.

    Use non-linear thinking to earn more money: Most of us are taught to trade hours for dollars, which is the reason the average person makes little money. The rich earn their fortunes tapping their creativity and coming up with new ideas that serve people and solve problems. It?s not how many hours you can work or the amount of midnight oil you can burn; it?s about training your mind to think about old problems in new ways.

    Use logical and emotional thinking: The middle class blends emotional thinking in their decision making process, which clouds their judgment. The rich use left brain, logic-based, emotionless thinking to make decisions in regards to earning, investing and saving money. They use emotion to motivate themselves to take action. Both forms of thinking have value. The secret is to know when to use which, and avoid blending the two.

    See money as abundant and infinite: Money is created through ideas that solve problems, and since ideas are infinite, the amount of money you can earn is infinite. The masses see a world in recession filled with seemingly unsolvable problems. The rich see these new, complex problems as the opportunity of a lifetime to become even wealthier by solving them. The more numerous and complex problems society faces, the more opportunity all of us have to become rich.

    See money as freedom: The middle class scorns the rich for flaunting their money and falsely assumes they acquire it for status. Status makes people feel important, and while everyone enjoys it, the rich build fortunes primarily so they can live life on their own terms. Money provides the freedom to do what you want, when you want, with whom you want, for as long as you want, while never having to answer to anyone unless you choose to.

    Expect to be rich: The masses have a lottery mentality and have been brainwashed to believe the only chance they have to get rich is by picking the right numbers or playing slot machines. The rich expect to earn more money every year and aren?t surprised as millions of dollars flood their bank accounts. The rich have trained themselves to expect big things to happen, and as a result they are bold, aggressive and fearless in their pursuit of wealth.

    Vaccinate yourself from Either/Or Syndrome: Most us of have been told we can?t have it all, and we must choose between having a balanced life and being rich. The rich know you can have whatever you want, and through leverage you can earn more while working less. Creative problem solving is the root of all great fortunes, and one idea that solves a small problem for a lot of people or a large problem for a small group of people can yield millions. Ideas can be incubated any time day or night, anywhere in the world. They don?t always require an excessive amount of time, but rather a persistent and unrelenting focus.

    Self-Education is the secret: Formal education will make you a living, but self-education will make you a fortune. The rich are obsessed with learning and personal development. They know their mind is the hub of their financial empire, and while the masses seek entertainment, the wealthy are reading, listening to audio programs, attending seminars, and networking with powerful people who can help raise their level of awareness.

    If you follow the beliefs, philosophies and strategies of the rich and take action, you have a legitimate shot at becoming a millionaire and breaking into the one percent of income earners. The secret is not in the mechanics of money, but in the level of thinking that generates it. Once you learn to embrace this, your earning potential is limitless.

    Steve Siebold is author of the book How Rich People Think (download five free chapters of the book and get more information), which compares 100 thoughts and beliefs about money between rich people and the middle class. Siebold is one of the world?s most noted experts in the field of mental toughness training. His mental toughness clientele includes world-class athletes, Fortune 500 companies, and entrepreneurs.
     
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  2. poshtiger

    poshtiger Registered Member

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    Agree 100% with all of that... very nice article.
     
  3. spud7001

    spud7001 BANNED BANNED

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    Very nice, agree totally, although i am pretty rich from the internet!
     
  4. transam7410

    transam7410 Power Member

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    what a great read, thank you so much for posting that.
     
  5. IntensE

    IntensE Power Member

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    great article thanks for posting.
     
  6. 3Infidels

    3Infidels BANNED BANNED

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    I like the "See money as abundant and infinite". Works for me!
     
  7. makroosa

    makroosa Newbie

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    nice writeup
     
  8. cool0403

    cool0403 BANNED BANNED

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    Yeap, might be broke now but rich tomorrow.
     
  9. Roparadise

    Roparadise BANNED BANNED

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    One thing that helps you reprogram to think more is that Instead of saying "I can't afford that" say "How can I afford that" It causes you to think more,whereas the first one you don't think more about it. Its from RDPD(rich dad poor dad).
     
  10. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    One thing it misses :rolleyes:

    Formulate a plan and take ACTION. ;)
     
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  11. flibbertigibbet

    flibbertigibbet Regular Member

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    Agreed. :) This thread (emphasizing Jazzc's post), should be sticked. :)
     
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  12. silentthunder

    silentthunder Jr. VIP Jr. VIP Premium Member

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    I second this as a sticky prospect. I agree with every word. Walk the talk.
     
  13. flipit54

    flipit54 Newbie

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    Excellent read. Very inspiring for someone new to this mindset like myself.
     
  14. mungus

    mungus Regular Member

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    Nice share OP, these seven factors form the basis of pretty much all my daily thoughts. Nice to know I'm not insane for having these principles.
     
  15. thizzladen

    thizzladen Power Member

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    Before reading this, it's acctually been always the way I think. I'm still working on the emotional decisions part though, :p.

    I gotta be heartless .. grrr.
     
  16. Zipper

    Zipper Registered Member

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    Great article OP!
    BTW, if you guys are interested, there's a couple books that I would recommend that are in line with this article. The first one is "What Rich People Know And Desperately Want To Keep Secret" by Brian Sher and the second one is "The Millionaire Fastlane" by MJ DeMarco.
     
  17. scully

    scully Junior Member

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    Rich people are tight wads.
     
  18. bs7280

    bs7280 Newbie

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    Just to think optimistically, imagine if all of this could be incroperated in the school system, the one percent could turn into one hu dread percent
     
  19. Zipper

    Zipper Registered Member

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    I respectfully disagree with this statement. Even if it was taught in school, there are far too many people that are 1) unwilling to put in the work to make it happen 2) are complacent with working at their regular 9-5 and having a "steady" job and 3) don't have a head for business.

    Which, these are all good things for us, because it means less competition and more consumers to purchase our goods and services. :D
     
  20. LBrown

    LBrown Senior Member

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    This post really got the gears grinding for me. For those of you interested in reading the whole book, you can find it here for free:

    Code:
    http://www.mrzhutch.com/6packabs/wp-content/uploads/2011/03/HowRichPeopleThinkEbook.pdf
    Every chapter is short, easy to digest and interesting to read. Highly recommended.
     
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