Thursday, June 26, 2014

how rich people think

According to Steve Siebold, what separates the rich from the rest of us isn't so much what they do.

It's how they think.

Siebold spent nearly three decades interviewing millionaires around the world, and boiled his findings down in "How Rich People Think," a book he describes as "so brutally honest it will shock some and inspire others." 

In it, he touches on everything from beliefs about the root of all evil to faith in what drives the financial markets and what parents should teach their children to set them up for financial success.

[for example]

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," Siebold writes.

"Meanwhile, the masses are convinced that master's degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness ... The wealthy aren't interested in the means, only the end."

Rich people believe you have to be something to get rich

... while average people believe you have to DO something to get rich. 

"That's why people like Donald Trump go from millionaire to $9 billion in debt and come back richer than ever," Siebold writes. 

"While the masses are fixated on the doing and the immediate results of their actions, the great ones are learning and growing from every experience, whether it's a success or a failure, knowing their true reward is becoming a human success machine that eventually produces outstanding results."

Rich people would rather be educated than entertained

... while average people would rather be entertained than educated. 

While the rich don't put much stock in furthering wealth through formal education, they appreciate the power of learning long after college is over, Siebold explains.

"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," he writes. "The middle class reads novels, tabloids, and entertainment magazines."

[and more]

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