10 things Rich people do, that poor people don't.
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Today we're counting down our top picks for 10 things rich people do, that poor people
don't.
In this video we are going to cover actions and behaviors that poor people neglect.
These tips are so simple, you will wonder why you are still poor.
although this will not guarantee your success, this will greatly improve your chances to
become a millionaire.
we recommend you watch this video at least once every couple of months, because you never
know which part will trigger a new idea, or realization about your life.
with that out of the way, let's go through the 10 things rich people do, that the poor
don't
number 1
Rich people read a lot.
the top CEOs in the world read at least 50 books per year.
Now.
Poor people don't read any books.
And if they do, they read usually fiction or romance.
Many poor people get up every morning, and read facebook posts, then they watch the news,
which is predominantly negative.
Many rich people have become successful by simply listening to audio books in their car.
Poor people listen to the radio while they drive.
they want to be up today with the latest top 10 list.
So the next time you wonder why, a CEO earns 90% more money than you do, remember, while
you are busy checking facebook or listening to the radio, these people are busy educating
themselves.
number 2
Use your natural talents.
A big difference between the rich and the poor, is that the rich try to get to know
themselves as much as possible.
they find out what they're good at, and they become exceptional at it.
They find a field where they have unfair advantage over the rest.
This doesn't mean people are born with special powers.
These people are willing to put in the work.
Remember, you can outsmart talented people, who simply
sit on a couch and watch tv.
In other words poor people usually waste their talent.
The rich cash in on their natural born abilities.
number 3
They are responsible for their own fate.
Rich people believe they are responsible for their own fate.
successful people rely on themselves to create windows of opportunity.
they become the architect of their own destiny.
In sharp contrast, the poor blame the government for the lack of opportunities, they make excuses,
like, because my parents had no money, or the markets don't have any jobs in my industry,
the government made the markets crash, and blah blah blah.... it's never their fault.
It's always some external factor, they never accept responsability.
In reality, it's not the government, it's not the economy, it's not your parents.
You, are responsible.
number 4
Rich people set financial goals.
Yes, almost every single rich person sets personal financial goals, they know the importance
of accumulating wealth.
This means writing it down, making a plan, and keeping track of their finances.
Having financial goals requires action, rich people don't just set goals, but they begin
to find ways to increase their revenue, how to cut expenses to retain what they already
have.
This means, changing jobs, adding new products, increasing prices, working longer hours, anything
that will take them closer to their financial goals.
Poor people instead, they sit around, hoping for their boss to give them a raise.
They spend everything they have, and if they have anything left, they put it in their savings.
Even if they have financial goals, they never do anything about them.
They just sit around and hope for the best.
number 5
The rich sleep less.
how so?
Well, here is the truth, will smith once said, while the other guy is sleeping, I'm working.
While the other guy is taking it easy, I'm working.
That's how I get ahead of the other guy.
Poor people on the other hand, they like to indulge themselves into self pity, they want
to take it easy.
they say things like: I deserve a break, I need to take it easy, and watch some TV, maybe
browse the internet to take my mind off work.
While in the background, his bills continue to pile up.
The average person works 32 to 40 hours a week, let me tell you, if you are only working
40 hours a week, you are only working for survival.
The average self-made millionaire works 59, 70 or 80 hours per week.
They work six days per week rather than five, and they work longer days as well.
They work hard to achieve their financial goals.
number 6
Money works for rich people.
Rich people understand how money works, they know they don't work for money, money works
for them.
This is the secret why the rich keep getting richer, and the poor, keep getting poorer.
Poor people spend their entire life buying liabilities, like: vehicles, electronics,
clothing, houses and recreation.
Rich people purchase assets.
they buy things that will put money in their pockets, rather than taking it away.
Anything that doesn't give you money is a liability.
Example, Your cell phone is a liability, you have to pay that monthly bill.
Your internet, your power bill.
your car needs gas to move, you need insurance for the car, annual registration, and so on.
A house for example is a liability, since it takes money away from you.
But, the same house can become an asset, if you were to start renting it.
Now, the house begins to: put money in your pocket.
I think you get the picture here.
number 7
Rich people pay themselves first.
Poor people pay their bills first, they pay themselves last, or in some cases they don't
pay anything to themselves.
This principal is so important that if you don't understand this, you'll never be rich,
you'll never get ahead financially.
let me explain to you why.
Rich people pay themselves first, from every payment they receive, they take 10% or 30%
of that amount for themselves.
They pay their bills and duties with the remaining money.
Poor people pay a monthly bill to the power company, cell phone bill, insurance, internet
bill and whatever else they have to pay.
Everyone gets paid, but themselves.
The pay yourself first principal, is a self-tax the rich impose on themselves.
Now, once they have this money, they don't spend it, they put it away for financial accumulation
Poor people, they fall prey to something called Parkinson's law.
Which basically states that: Expenses will raise to meet income.
In other words, the more they make, the more they will spend.
number 8
Rich people study success,
Success leaves clues.
Rich people study other successful people.
If you start copying successful people, and you start doing what they do, eventually you
will get similar results.
Ask successful people, what books do you read?
what courses did you take?
Anything that can help you copy their mental processes that got them where they are.
Because remember, it's all in your head, you are poor because you think like a poor person.
Change your mental processes, and you will change your life.
Number 9
rich people get paid for results
When Henry ford was at the peak of his success, a mob of angry employees complained that one
of his assistants, was often spotted sleeping at his desk.
Henrry ford told them that if it wasn't for the ideas of that man, none of them would
be working in the plant.
poor people are in the business of trading time for hours, rich people are paid for producing
results, regardless of the time it takes to complete the project.
If you study the life of many self-made millionaires, you will find that these people found a need,
and they provided a solution.
Number 10.
Rich people don't have a boss.
Okay, you say.
That's not true.
Let me explain.
No matter what.
Rich people never make the mistake of thinking that they work for anyone, but themselves.
No matter who signs their pay-cheque.
they develop the entrepreneur mentality, the mentality of the highly independent, self-responsible,
self-starting individual.
Instead of waiting for things to happen, they make things happen.
They are always the CEO of their own personal corporation, they see the person who signs
their pay cheque, not as their boss, but as their client.
Do you agree with our list?
Watch this video at least once a month, to allow this material to sink in.
See you in the next episode.
bye now.
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