Are we becoming a country that hates rich people? Are we becoming a culture that frowns on the Financially Successful?
Lets be honest about this.
This was the subject of a lot of discussion on my radio show today, The Cardone Zone and I wanted to share it with you because this may be something that is preventing you from achieving the success of your dreams.
You hear of a guy that was born into wealth and never had to work in his life - don’t you resent him a bit?
Our society has sayings that suggest resentment, envy, misunderstanding and disdain of successful people... "He was born with a silver spoon in his mouth," and "the meek shall inherit the earth," for example.
I hear people suggest that rich people are greedy, dishonest and the biggest stereotype, "Oh he may have money but he isn't happy." You are bombarded with this type of thinking every time you turn on the TV and hear Obama talk about how wealthy Americans need to pay their fair share or how the top 1% are somehow suppressing the rest of us.
Why do we do this as a society? And most importantly what is the effect on YOU because of these ideas or beliefs being projected onto YOU?
If this philosophy has somehow rubbed off on you or filtered into your mind, if you think being rich is wrong, bad or evil, you stand absolutely no chance of getting wealthy yourself.
Contrary to what most people believe, the rich didn't get rich because they were able to borrow money, were better educated, or somehow privileged. A very high percentage of the wealthiest of people were not college educated, not well connected and started from nothing.
The disparity between the rich and poor is not a new thing.
If you go back 3000 years, you will find disparity of wealth between classes and you will also see periods of the poor being instigated to protest the wealthiest. Go back only 100 years in American history to the days of Dupont, Ford and Carnegie and you will see enterprising men amassing massive wealth during unbelievably tough economies because of the risk they were willing to take, their actions and their ability to stay focused at times that were very difficult.
Go back only a quarter of a decade and you can find story after story of wealth being created not due to inheritance, or bank loans but because of their enterprising efforts. Bill Gates and Steve Jobs, both quit college, started businesses in garages, without the help of banks and in search of doing something extraordinary became billionaires. How about billionaire Oprah coming from nothing? Or how about Michael Moore, a big advocate of Occupy Wall Street coming from working class and creating a net worth of $50 million.
ABC News recently reported, "an all-time high 70 percent of this year's richest people in the world list are self-made; up from 55 percent in 1997." 67% of all billionaires started off with nothing. Most 'self-made' millionaires have been bankrupt or close to bankrupt more than three times. Jeff Bezos, founder and CEO of Amazon, with a net worth of $19.1 billion, got his start selling books. Carlos Slim Helú, richest man in the world is a self-made billionaire from the telecom business. John Jacob Astor, (net worth of $110.1 billion in today's dollars) was a German immigrant who made a fortune trading furs and Chinese imports. Andrew Carnegie, net worth of $281.2 billion in today's dollars started as textile mill bobbin boy.
The difference between the rich and the poor is significant, and the disparity goes far beyond their wealth. It has less to do with what family they were born into than is does with their mindset and their approach to life and finance. There is a monster gap in their actions, their thinking and their persistence to see things through.
The good news is you can change your mindset on this subject and remove this barrier to your own wealth.
In 25 years of observation, I have come up with these main differences between the rich and poor. Take a look at these points and get yourself in the right frame of mind to succeed.
[one_fourth] Rich People:
- Think Money is Good
- Invest Money
- Use Debt for Investing
- Focus on Finances
- Make Things Happen
- Attention on Future
- Focus on Solutions
- Buy Time
- Have Multiple Flows of Income
- Net Worth Driven
- Pay Themselves First
- Think Money AND Happiness
[one_fourth] Poor People:
- Think Money is Bad/Evil
- Spend Money
- Use Debt for Spending
- Focus on Spending
- Things Happen to Them
- Attention on Past
- Focus on Problems
- Sell Time
- Have Single Income Flow
- Income Driven
- Pay Others First
- Think Money OR Happiness
You can protest the rich, you can blame them, and you can ridicule them but there is no proof anywhere in history that these actions will somehow resolve the disparity issue.
Shed whatever bias you may have against the rich and watch your own fortune grow.
Join me live on Wednesdays at 11am EST and Fridays at Noon EST in the Cardone Zone!