You might be wondering why poor people remain poor generation after generation, struggle throughout their life for living hood. All comfort, luxury, lifestyle, and freedom being accessed to rich people only. Have you ever observed what basically rich people do differently which the poor usually fail to do so and remain in poverty?
It's all about Midset!
Let's see what Rich people do in their entire life:
- Have multiple sources of income. Never ever depend on a single income source
- Save first then spending, and whatever is saved, deploy it for investments to grow further
- Focus on earnings
- Know how to use debt for investing and take leverage benefit
- Have more appreciating asset than a liability
- Pay themself first - whatever comes, invest for their own future first
- Know how compounding works in the longer term
- Keep on upgrading themself
- Invest in books, training, seminars, and personal development
- Spend time creating new ideas or innovation
- Have a clear & focused vision & mission in life
- See opportunities and focus on reward
- Laser-sharp focus on what is wanted - solution-oriented
- Learn to make money work for them
- Fearless
And what Poor people do in their entire life:
- Have only one source of income. Don't try to create multiple sources
- Spend money first and save whatever is left, which usually not happens
- Focus on spending. Try to accumulate things for the household
- Even don't afraid to use debt for spending
- Accumulate liabilities rather than assets
- Pay other first... whatever earn spend to make other people rich
- Fail to calculate the compounding effect
- Don't upgrade or change unless become mandatory
- Don't invest in books, training, seminars, and personal development
- Spend time watching TV and talking about people
- Don't have financial foresightedness
- See obstacles and focus on risk
- Focus on what they don't want - full of complaints
- Work hard for money for their entire life
- Fearful
That is the reason, the majority of people never ever transformed from a poor mindset to a rich mindset in their entire lifetime.
The good part is that the mindset can be changed over a period of time from one another It's all about how you think about money and interacts with it. A rich mindset not only helps you to make more money, but you learn how to manage it in a better way.
A rich person can have a poor mindset which leads to failure in the future, whereas a poor can have a rich mindset which leads a path to success eventually.
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