1. THE RICH DON'T WORK FOR MONEY.
The poor and the middle class work for money.
The rich have money work for them.
This means that they "put their money to work" for themselves by investing in building their own business.
The best example is Steve Jobs. When he died in 2011 his net worth was $10.2 B. Due to value of stock went
Up his estate is now worth $19 B, almost double, and he is dead.
Steve did work for that money, he let money work for money.
2.THEY BECOME FINANCIAL LITERATE.
It's not how much money you make.
It's how much money you keep.
Most people fail to realize that in life, it's now how much money you make. It's how much money you keep.
We've all here a story of lottery winners who are poor, then suddenly rich, and then poor again. They win
Millions, yet are soon back where they started. Story of professional athletes, who at the age of 24 are
Earning millions, but are sleeping under a bridge 10 year later.
This is due to the poor literacy knowledge about the finance. In your school's financial knowledge is being not taught from the first time of the school, this led to not becoming financial free in the whole lifetime.
3. THEY MIND THEIR OWN BUSINESS.
The rich focuses on the asset columns, while everyone focuses on their income statements . There is a big difference between your profession and your business. Often, when you ask people, "What is your business?"And they will say," Oh, I am a banker." Then ask them if they own the bank , they will say no. I work there. In that instance, they have confused their profession with their business. This profession may be a banker, but they still need their own business.
A problem with school is that you often become what you study. If you study cooking, you become a chef. This mistake in becoming what you study is that too many people forget to mind their own business. They spend their lives making someone rich.
Financial struggle is often the result of people working all their lives for someone else.
4. THE RICH INVEST MONEY.
The single most powerful asset we all have is our mind. If it is train well, it can create enormous wealth. Often in the real world, it's not the smart who get ahead, but the bold.
The biggest trap for people is that, they don't invest money. They make their liabilities more than making assets. Example, people buy a car and keep padding money for that car, which not let asset improve. Rich people don't makes te liabilities they make the asset column bigger than possible as can which keeps the money coming to their pocket.
I find so many people struggling today, often working harder, simply because of their old ideas. They want things to be the way they were,and they resist change. People are losing their jobs, and they are blaming technology or the economy or the boss.
Sadly, they fail to realise that they might be the problem. Old ideas are the biggest liabilities. Ideas have to be change with the changing world.
5.THEY DON'T WORK FOR MONEY.
Most teachers lack real world experience, they have not done what they teach. They haven't actually experience what they teach, made a mistake, learn from the mistake, and applied what they've learned as they continue to practice and get better and better.
Some companies have excellent training programs that help people get over their fear of failure and rejection, which are the main reasons people are unsuccessful.
Education is more valuable than money, in the long run.
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