10 Differences Between Middle Class and Rich People
Did you know that the wealthiest 400 Brits are wealthier than 50 million people? If you consider yourself the middle class, you can be among these 50 million people. You are not poor, but you are not yet rich either.
According to the latest data, there is a contraction in the middle class. This means that in the future you will either be poor or rich. Which side would you like to be on?
If you want to get rich, you have to start thinking like the rich. Here are 10 differences between the middle class and the rich:
1. The middle class lives comfortably, the rich prefer not to be comfortable
"To the point where we can't control our dreams, comfort controls us." - Peter McWilliams
"When investing, those who are comfortable rarely win." - Robert Arnott
Working in a safe job is comfort. Working for someone is comfort. The middle class lower that being comfortable is to be happy, but the rich know that unusual things will happen if they get into uncomfortable situations. Starting your own business is risk and the risks are disturbing, but small risks create assets and have big consequences.
Get out of your comfort zone. Go through all your options. If you want to get rich, you have to be a little uncomfortable. You will also fail, and that's great because if you don't fail, you're not thinking big enough.
2. The middle class spends more than they earn, the rich spend less than they earn.
You hardly see an average millionaire with a $ 100,000 car or a million dollar house. The rich do not spend their money on humiliating passives, the rich invest their money in appreciated assets and spend less than they earn.
Remember, if you're making $ 1,000,000 a year and spending $ 1,000,000 a year, you're still broke.
3. Middle-class people climb the corporate ladder, the rich have their own ladder.
“The richest people in the world seek and build networks; everyone else is looking for a job ”- Robert Kiyosaki
Middle-class people tend to work for someone. They have jobs. They have careers. The rich tend to own their own business. They don't climb the corporate ladder like the middle class because they have their own. The rich know that they need more people to work for them to make more money. The rich are aware of their passive income power.
4 - The middle class is friends with everyone, the rich choose their friends wisely.
Always try to spend time with people who are better than you. Over time, you'll start looking like them - Warren Buffett
The rich know that if there are successful people around them, success will follow. Likewise, having unsuccessful people around you will cause you to fail. Your income is usually the average of your three closest friends. If you want to make more money, you need to hang out with people who make more money than you. This means aligning your mindset with that of successful people. If you want to be rich, you have to think like the rich.
5. The middle class works to win, the rich work to learn.
"When you're young, work to learn, not to win" - Robert Kiyosaki
The middle class easily switches jobs when someone offers more money. The rich know that working is not about money. If you want to get rich, you need to improve your skills and habits. For example, if you work in the sales business, you should learn the finer points of the sales world. Or if you are working in a bank, you should learn accounting fully. If you want to get rich, you must learn skills that will help you get rich. Remember that most of the rich people didn't get rich on high salaries.
6. The middle class has something, the rich have money.
Lots of people spend money they don't earn, buy things they don't want, influence people they don't like - Will Rogers
Look at the fancy cars and big houses. Most of the middle class spends money on these. Visit places where the middle class lives. You'll see squeaky cars, expensive landscape designs, and expensive homes. The rich know that they have to have more money than what they want to be wealthy. If you keep buying things, your money will fly away. Many rich people around the world have been living in the same house for decades and don't need a new home.
Stop buying things and focus on saving and investing your earned money. If you're shopping colic, start buying real estate. Become interested in investing instead of buying shoes and electronics.
7. The middle class focuses on saving, the rich focus on earning.
Your greatest asset is your ability to win. Your biggest resource is your time. - Brian Tracy
Savings are important. Investing is even more important, but the bottom line is both. Understand that you have to save and invest. However, to earn more money, you have to achieve wasteful goals along with these. If you really want to get rich, you need to focus on your ability to earn, not your ability to save.
8. The middle class is emotional about money, the rich are rational about money.
You are only reasonable when you combine intelligence with emotional discipline. - Warren Buffett
Steve Siebold has covered over 1,200 interviews with the richest people in the world over 30 years in his book "How Rich People Think," and according to Steve Siebold, there are more than 100 differences between rich people and middle class. One of the most important differences he finds is that the middle class sees money as emotional, and the rich regard it as logic. Making emotional financial decisions will ruin your finances. Warren Buffett says that investment should be made with reason, not emotion. Emotions cause people to buy high and sell low. Emotions lead to dangerous business deals. Put your emotions aside and act with your logic.
9. The middle class despises its potential, the rich set big goals.
Keep your goals high and don't stop until you get there. - Bo Jackson
The middle class sets goals. It is the capacity of these goals that sets the middle class apart from the rich. The middle class sets safe goals that are easily attainable, while the rich set goals that seem impossible, difficult or insane. But the rich know that these can be achieved. The important thing here is to have the right mindset.
When setting your goals, ask yourself if you can set bigger goals. Is that all you can do or can you do more? You can always do more.
10. The middle class believes in hard work, the rich believe in leverage.
Better use of existing resources is easier than developing nonexistent resources. - George Soros
It is necessary to work hard. For all of us. If you want to get to the top, you have to work. The problem is that working alone doesn't make you rich. You cannot get rich by doing everything yourself. To get rich and keep getting rich, you have to use leverage. Leverage can be used in different ways, from outsourcing to investment.
Some differences between the middle class and the rich are large, while other differences are simpler and smaller. The truth is that if you want to get rich, you have to think like rich and act like rich.