World’s richest woman Gina Rinehart is
enduring a media firestorm over an article in
which she takes the “jealous” middle class to
task for ‘drinking or smoking and socializing’
rather than working to earn their own fortune.
What if she has a point?
Steve Siebold, author of ‘How Rich People
Think’ spent nearly three decades interviewing
millionaires around the world to find out what
separates them from everyone else.
It had little to do with money itself, he told
Business Insider. It was about their mentality.
“[The middle class] tells people to be happy
with what they have,” he said. “And on the
whole, most people are steeped in fear when it
comes to money.”
Average people think MONEY is
the root of all evil. Rich people
believe POVERTY is the root of
all evil.
“The average person has been brainwashed to
believe rich people are lucky or dishonest,”
Siebold writes.
That’s why there’s a certain shame that comes
along with “getting rich” in lower-income
communities.
“The world class knows that while having
money doesn’t guarantee happiness, it does
make your life easier and more enjoyable.”
From Steve Siebold, author of “How Rich People
Think”
Average people think selfishness
is a vice. Rich people think
selfishness is a virtue.
“The rich go out there and try to make
themselves happy. They don’t try to pretend to
save the world,” Siebold told Business Insider.
The problem is that middle class people see that
as a negative––and it’s keeping them poor, he
writes.
“If you’re not taking care of you, you’re not in a
position to help anyone else. You can’t give
what you don’t have.”
From Steve Siebold, author of “How Rich People
Think”
Average people have a lottery
mentality. Rich people have an
action mentality.
“While the masses are waiting to pick the right
numbers and praying for prosperity, the great
ones are solving problems,” Siebold writes.
“The hero [middle class people] are waiting for
may be God, government, their boss or their
spouse. It’s the average person’s level of
thinking that breeds this approach to life and
living while the clock keeps ticking away.”
From Steve Siebold, author of “How Rich People
Think”
Average people think the road
to riches is paved with formal
education. Rich people believe
in acquiring specific knowledge.
“Many world-class performers have little formal
education, and have amassed their wealth
through the acquisition and subsequent sale of
specific knowledge,” he writes.
“Meanwhile, the masses are convinced that
master’s degrees and doctorates are the way to
wealth, mostly because they are trapped in the
linear line of thought that holds them back from
higher levels of consciousness…The wealthy
aren’t interested in the means, only the end.”
From Steve Siebold, author of “How Rich People
Think”
Average people long for the
good old days. Rich people
dream of the future.
“Self-made millionaires get rich because they’re
willing to bet on themselves and project their
dreams, goals and ideas into an unknown
future,” Siebold writes.
“People who believe their best days are behind
them rarely get rich, and often struggle with
unhappiness and depression.”
From Steve Siebold, author of “How Rich People
Think”
Average people see money
through the eyes of emotion.
Rich people think about money
logically.
“An ordinarily smart, well-educated and
otherwise successful person can be instantly
transformed into a fear-based, scarcity driven
thinker whose greatest financial aspiration is to
retire comfortably,” he writes.
“The world class sees money for what it is and
what it’s not, through the eyes of logic. The
great ones know money is a critical tool that
presents options and opportunities.”
From Steve Siebold, author of “How Rich People
Think”
Average people earn money
doing things they don’t love.
Rich people follow their passion.
“To the average person, it looks like the rich are
working all the time,” Siebold says. “But one of
the smartest strategies of the world class is
doing what they love and finding a way to get
paid for it.”
On the other hand, middle class take jobs they
don’t enjoy “because they need the money and
they’ve been trained in school and conditioned
by society to live in a linear thinking world that
equates earning money with physical or mental
effort.”
From Steve Siebold, author of “How Rich People
Think”
Average people set low
expectations so they’re never
disappointed. Rich people are
up for the challenge.
“Psychologists and other mental health experts
often advise people to set low expectations for
their life to ensure they are not disappointed,”
Siebold writes.
“No one would ever strike it rich and live their
dreams without huge expectations.”
From Steve Siebold, author of “How Rich People
Think”
Average people believe you have
to DO something to get rich.
Rich people believe you have to
BE something to get rich.
“That’s why people like Donald Trump go from
millionaire to nine billion dollars in debt and
come back richer than ever,” he writes.
“While the masses are fixated on the doing and
the immediate results of their actions, the great
ones are learning and growing from every
experience, whether it’s a success or a failure,
knowing their true reward is becoming a human
success machine that eventually produces
outstanding results.”
From Steve Siebold, author of “How Rich People
Think”
Average people believe you need
money to make money. Rich
people use other people’s
money.
Linear thought might tell people to make money
in order to earn more, but Siebold says the rich
aren’t afraid to fund their future from other
people’s pockets.
“Rich people know not being solvent enough to
personally afford something is not relevant.
The real question is, ‘Is this worth buying,
investing in, or pursuing?'” he writes.
From Steve Siebold, author of “How Rich People
Think”
Average people believe the
markets are driven by logic and
strategy. Rich people know
they’re driven by emotion and
greed.
Investing successfully in the stock market isn’t
just about a fancy math formula.
“The rich know that the primary emotions that
drive financial markets are fear and greed, and
they factor this into all trades and trends they
observe,” Siebold writes.
“This knowledge of human nature and its
overlapping impact on trading give them
strategic advantage in building greater wealth
through leverage.”
From Steve Siebold, author of “How Rich People
Think”
Average people live beyond their
means. Rich people live below
theirs.
“Here’s how to live below your means and tap
into the secret wealthy people have used for
centuries: Get rich so you can afford to,” he
writes.
“The rich live below their means, not because
they’re so savvy, but because they make so
much money that they can afford to live like
royalty while still having a king’s ransom socked
away for the future.”
From Steve Siebold, author of “How Rich People
Think”
Average people teach their
children how to survive. Rich
people teach their kids to get
rich.
Rich parents teach their kids from an early age
about the world of “haves” and “have-nots,”
Siebold says. Even he admits many people have
argued that he’s supporting the idea of elitism.
He disagrees.
“[People] say parents are teaching their kids to
look down on the masses because they’re poor.
This isn’t true,” he writes. “What they’re
teaching their kids is to see the world through
the eyes of objective reality––the way society
really is.”
If children understand wealth early on, they’ll
be more likely to strive for it later in life.
From Steve Siebold, author of “How Rich People
Think”
Average people let money stress
them out. Rich people find peace
of mind in wealth.
The reason wealthy people earn more wealth is
that they’re not afraid to admit that money can
solve most problems, Siebold says.
“[The middle class] sees money as a never-
ending necessary evil that must be endured as
part of life. The world class sees money as the
great liberator, and with enough of it, they are
able to purchase financial peace of mind.”
From Steve Siebold, author of “How Rich People
Think”
Average people would rather be
entertained than educated. Rich
people would rather be educated
than entertained.
While the rich don’t put much stock in
furthering wealth through formal education,
they appreciate the power of learning long after
college is over, Siebold says.
“Walk into a wealthy person’s home and one of
the first things you’ll see is an extensive library
of books they’ve used to educate themselves on
how to become more successful,” he writes.
“The middle class reads novels, tabloids and
entertainment magazines.”
From Steve Siebold, author of “How Rich People
Think”
Average people think rich
people are snobs. Rich people
just want to surround
themselves with like-minded
people.
The negative money mentality poisoning the
middle class is what keeps the rich hanging out
with the rich, he says.
“[Rich people] can’t afford the messages of
doom and gloom,” he writes. “This is often
misinterpreted by the masses as snobbery.
Labeling the world class as snobs is another way
the middle class finds to feel better bout
themselves and their chosen path of
mediocrity.”
From Steve Siebold, author of “How Rich People
Think”
Average people focus on saving.
Rich people focus on earning.
Siebold theorizes that the wealthy focus on
what they’ll gain by taking risks, rather than
how to save what they have.
“The masses are so focused on clipping coupons
and living frugally they miss major
opportunities,” he writes.
“Even in the midst of a cash flow crisis, the rich
reject the nickle and dime thinking of the
masses. They are the masters of focusing their
mental energy where it belongs: on the big
money.”
From Steve Siebold, author of “How Rich People
Think”
Average people play it safe with
money. Rich people know when
to take risks.
“Leverage is the watchword of the rich,” Siebold
writes.
“Every investor loses money on occasion, but
the world class knows no matter what happens,
they will aways be able to earn more.”
From Steve Siebold, author of “How Rich People
Think”
Average people love to be
comfortable. Rich people find
comfort in uncertainty.
For the most part, it takes guts to take the risks
necessary to make it as a millionaire––a
challenge most middle class thinkers aren’t
comfortable living with.
“Physical, psychological, and emotional comfort
is the primary goal of the middle class mindset,”
Siebold writes.
World class thinkers learn early on that
becoming a millionaire isn’t easy and the need
for comfort can be devastating. They learn to be
comfortable while operating in a state of
ongoing uncertainty.”
From Steve Siebold, author of “How Rich People
Think”
Average people never make the
connection between money and
health. Rich people know money
can save your life.
While the middle class squabbles over the
virtues of Obamacare and their company’s
health plan, the super wealthy are enrolled in a
super elite “boutique medical care” association,
Siebold says.
“They pay a substantial yearly membership fee
that guarantees them 24-hour access to a private
physician who only serves a small group of
members,” he writes.
“Some wealthy neighborhoods have
implemented this strategy and even require the
physician to live in the neighborhood.”
From Steve Siebold, author of “How Rich People
Think”
Average people believe they
must choose between a great
family and being rich. Rich
people know you can have it all.
The idea the wealth must come at the expense
of family time is nothing but a “cop-out”,
Siebold says.
“The masses have been brainwashed to believe
it’s an either/or equation,” he writes. “The rich
know you can have anything you want if you
approach the challenge with a mindset rooted in
love and abundance.”
From Steve Siebold, author of “How Rich People
Think”
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