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5 Important Tips on How Rich People Mentally Think and Act?

Updated on May 31, 2020
talesofvikram profile image

Vikram Brahma is a Digitalpreneur, Author, Blogger, Writer, & YouTuber. He loves to write content & spend time working from home.

Introduction

Do you want to become rich? Do you want to become successful? And do you want to know what are the secrets of rich and wealthy people? Well, yes there are some secrets and this article is going to reveal those secrets to you.

Before that let me tell you a short story of one author. This is the story of Mr Steve Siebold. During this college days, he was broke and poor but he was looking forward to achieve success in his life. Today, Steve Siebold is a renowned author of a book called “How Rich People Think”.

During his work, he has interviewed more than 1,200 world’s wealthiest people in 30 years. And he came to the conclusion as to why people become wealthy and rich. He applied all these knowledge and today he is a self-made millionaire. During his research, he found that wealthy people think and act differently from common masses. So, allow me to share some points of his secrets which he revealed in this book.

How Rich People Think
How Rich People Think

Money = Time Vs Money = Idea

During his research author found that middle class believe in money equals time. But whereas rich people know that we can make more money because of an idea. Middle-class people love jobs, and therefore they give their time and energy to earn money. So, it is engraved in the middle class that if you want to make more money, give more time to your job.

Whereas rich mentality people know that making money is nothing to do with time. And it is all related to having some great idea and implementing those ideas. So, these rich mentality people search for some problem and look for ways to solve that problem. And this is the first key for them to become rich in future. Because they know once they will have the solution, the money will come to them automatically.

Get this wonderful book by clicking this Amazon link.

Formal Education
Formal Education

Formal education will make you a living; self-education will make you a fortune.” Jim Rohn.

Formal Degree Vs Specific Knowledge

We have been taught and middle class believe that to become rich we have to get a formal degree. Whereas rich mentality people know that we can become rich only through some specific knowledge. But it doesn’t mean rich people don’t like formal education. They just don’t combine becoming rich to formal education.

Whereas common people think of getting a PhD or master degrees, rich people learn the art of identifying a problem and come up with solutions. And here also the secret is - the bigger problem they can solve, more money they can make. But it doesn’t mean they stop learning, they go seminars, attend coaching and keep on learning from various sources. They believe in self-study and under the guidance of a mentor.

One difference between rich people and common people is that they use common sense and street smart techniques to find the solution to the problem. They try to come up with the simplest of solutions, whereas common people make even simple solution complicated. So, solve a problem and keep on earning money.

Spending Vs Investing

In this case, middle class think of reducing the expenses but the rich mentality people think about various investment. Since the middle class earn less they don’t think of investment. Rather than they think of saving more.

For this author said - first middle class should think of ways to increase their income. Higher the income better will be the situation. And once they earn enough then instead of saving they should think of ways to invest it. So, during this process, they will not only learn investment but will also become rich slowly and slowly.

Safe Vs Calculated Risk

Middle class like to play safe with money whereas rich mentality people take many calculated risks. As middle-class people fear losing money so they become conservative with the money. They think that if they will lose the money they cannot earn it again.

Whereas rich mentality people before investing anything study all possible risk and then they take the decision. But it doesn’t mean they never fail. Rich people also lose money but over time they reach a stage where they start to understand the pulse of the market. And over time with more experience, they become better and better.

Lottery Vs Action

Middle-class people like and love the lottery a lot. They believe this is the one opportunity which can make them rich. Although rich people don’t deny this lottery technique they believe that people should understand the importance of their work. This can help them to become rich in the long run.

So, when rich mentality people want to earn more money they look into the stories of rich people. They take inspirations from them. They don’t doubt their abilities and put all their energy to come up with ideas and solutions.

Whereas middle-class people think that some supernatural power will come to their rescue. They just wait for some miracle, superhero and good luck in the form of government, god, boss or parents etc. But in the case of rich mentality people, they know that no one is going to come to save them. Therefore, they make their own goals, motivate themselves and take massive actions.

Get this amazing book by clicking this Amazon link.

Conclusion

I have used the word middle-class a lot of times. My idea is not to show them in a bad light but this is what going on and stopping us from becoming rich and wealthy. These have been found out by the author after meeting 1,200 wealthy people. And after all the author is a self-made millionaire.

I hope this article of mine will inspire you to think and act differently. By the way, if you get a chance, go ahead and read this book. You will get more ideas, facts and inspiration.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2020 Vikram Brahma

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    • talesofvikram profile imageAUTHOR

      Vikram Brahma 

      14 months ago from Assam, India

      Thank you Nikhil for writing such a valuable comment on my article. Your comments and discussions give me ideas to write more articles. And yes, rich mentality people think and act differently and that's their biggest reason for their success. Yes, please read this book. From next time onwards I will try to put Amazon link. I had once but it got expired as I failed to capitalize on the link durations.

      Yes, you are right about these billionaires. But they are amazing individuals and we must learn something form them.

    • sachnikh profile image

      Nikhil Sharma 

      14 months ago from India

      The major difference between riches and common people is the way they think and execute their actions. You've explained your thoughts in a very simple yet effective way. And thank you so much for recommending this book to us. I will surely try to buy this book online and get more details of the same.

      Many billionaires today are mostly dropouts, whether it's Mukesh Ambani, Mark Zuckerberg, Oprah Winfrey, Steve Jobs, or Bill Gates. But that doesn't mean one should not opt for higher studies. Thank you for writing such an engaging and informative article, Mr. Vikram.

    • talesofvikram profile imageAUTHOR

      Vikram Brahma 

      14 months ago from Assam, India

      Yes, Mr. Krishna, you're rightly said time, leadership, the right approach and proper utilization of funds are needed to become successful in any approach. Yes, please read this book. I found it very good to read as it is written by a self-made millionaire. Thank you for commenting.

    • hmkrishna profile image

      Halemane Muralikrishna 

      14 months ago from South India

      Time, leadership skills, right approach, appropriate utilization of funds for investment are all looking very much appropriate for success. Your review of the book has developed an interest in me to read the entire book, Mr Vikram,

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