One huge component of building wealth involves changing your habits and your mindset. Today we’re going to talk about five things that rich people do that poor people don’t.
I hope this episode will empower you to change your thoughts and behaviors, so that you can change your financial future. Don’t miss episode 633 of Investing in Real Estate!
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- Wealthy people don’t set a ceiling for themselves. Don’t think of yourself as just a $30,000/year person, or dream of becoming a $40,000/year person. Instead, forget the ceiling! There are no limits to what you can achieve or earn if you’re in the right mindset.
- Rich people let their money work for them. Alternatively, poor people spend their entire careers (and sometimes lives) trading hours for dollars. Once you understand the power of passive income and performing assets, you can build real wealth.
- Another habit that rich people have is that they work hard. And I mean hard, around the clock. Poor people are focused on clocking out, they don’t spend their time pursuing additional revenue streams, and they expect things to be handed to them.
- Rich people buy performing assets, NOT liabilities. There is power in putting your money into assets that will produce monthly cash flow month after month. Poor people (and even the middle class) pay for things that cost them money, like new cars.
- The last habit on my list is reading and learning! Wealthy people are always in the pursuit of knowledge and are hungry to learn more about business, taxes, mindset, and how to create a better life.
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Tax-Free Wealth by Tom Wheelwright
Rich Dad Poor Dad by Robert Kiyosaki
Think and Grow Rich by Napoleon Hill
The Secret by Rhonda Byrne
Loving What Is by Byron Katie
The Surrender Experiment by Michael Singer
Deep Work by Cal Newport
Atomic Habits by James Clear
SPQR: A History of Ancient Rome by Mary Beard
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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