The difference between rich people vs average people

[Anonymous]

http://finance.yahoo.com/news/21-ways-rich-people-think-differently.html;_ylt=Ah4hV0WlSvbDKtuWP3TvwktE6odG;_ylu=X3oDMTJrZ2txZ3FtBG1pdANDeFMgRmluYW5jaWFsbHkgRml0IEFydGljbGUgQXJ0aWNsZSBCb2R5IFByb2QEcG9zAzUEc2VjA01lZGlhQXJ0aWNsZUJvZHlBc3NlbWJseQ--;_ylg=X3oDMTNjZmozYXRoBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDNGI5NjAxN2ItMzZmMC0zODZjLWJiYTAtNGY5MjcyZmZiZTg5BHBzdGNhdANleGNsdXNpdmVzfGZpbmFuY2lhbGx5Zml0BHB0A3N0b3J5cGFnZQ--;_ylv=3?page=all

Very informative article. Teach your kids well.

[Anonymous]

There is A LOT of truth to this article.

[Anonymous]

If I have to think like that in order to be wealthy or "world class," I don't want it.

[Anonymous]

Here's the only one you need to know (and it's proven nearly daily on DCUM):

"Average people live beyond their means. Rich people live below theirs."

[Anonymous]

I am in a position to vote here, having been both. This article is the closest I have ever read to the truth, and I wonder why it has taken someone so long to figure it out and articulate it.

I suppose the know it alls who know nothing will try to say it aint so, but it is!

[Anonymous]

This describes a certain type of wealthy person - the self-made entrepreneur type. Not all rich are like this. Many were born into money and do nothing very extraordinary with their lives.

Also, where is it written that following one's passion correlates with wealth? My passion is being a psychologist and helping people. I love what I do, but I'm certainly not in it for money.

[Anonymous]

If only more average people realized this, OP.

[Anonymous]

1. The middle class believe elections are determined by voters and ideas. The rich know they are determined by money, and that the more money you have, the more you can influence politics (so you can amass more).

2. The middle class believe you go to jail if you embezzle, cheat, or defraud people. The rich know that, if you're "too big to fail" you can do these things and be given more money.

3. The middle class think working hard is the key to success. The rich know nepotism and connections are the key to success.

This list has such a selection bias. My husband is a bankruptcy attorney, and for every famous gambler like Trump who's "lost millions and gained billions," there are hundreds of people who have internalized these "lessons" and who have taken on too much risk, have ruined their families, and who have to be bailed out by taxpayers. Most of the "lucky" people who take big risks and become wealthy have personal networks of wealthy and influential people who help them recover from downfalls and who provide opportunities middle class people will never receive.

Claiming wealthy people are wealthy because they are qualitatively better than the middle class is a pleasant fiction that the wealthy have every reason to propagate -- after all, if the middle class buy that story, the wealthy are "winners" who are to be admired, rather than people who have learned to game the system to enrich themselves at the expense of others.

[Anonymous]

Anonymous wrote:This describes a certain type of wealthy person - the self-made entrepreneur type. Not all rich are like this. Many were born into money and do nothing very extraordinary with their lives.

Also, where is it written that following one's passion correlates with wealth? My passion is being a psychologist and helping people. I love what I do, but I'm certainly not in it for money.

Um only less than 8% of wealth is inherited. Most people earn it.

Also if you don't have a passion for what you do you'll never be rich. It doesn't mean your passion will make you rich.

[Anonymous]

Wealthy people tend to be A*holes.

[Anonymous]

Fantastic article - yes a lot of truth.

[Anonymous]

Anonymous wrote:If I have to think like that in order to be wealthy or "world class," I don't want it.

+1
What a bunch of bull crap interwoven with stereotypes and a few good pieces of advice obscured by a strange slant.

[Anonymous]

Anonymous wrote:1. The middle class believe elections are determined by voters and ideas. The rich know they are determined by money, and that the more money you have, the more you can influence politics (so you can amass more).

2. The middle class believe you go to jail if you embezzle, cheat, or defraud people. The rich know that, if you're "too big to fail" you can do these things and be given more money.

3. The middle class think working hard is the key to success. The rich know nepotism and connections are the key to success.

This list has such a selection bias. My husband is a bankruptcy attorney, and for every famous gambler like Trump who's "lost millions and gained billions," there are hundreds of people who have internalized these "lessons" and who have taken on too much risk, have ruined their families, and who have to be bailed out by taxpayers. Most of the "lucky" people who take big risks and become wealthy have personal networks of wealthy and influential people who help them recover from downfalls and who provide opportunities middle class people will never receive.

Claiming wealthy people are wealthy because they are qualitatively better than the middle class is a pleasant fiction that the wealthy have every reason to propagate -- after all, if the middle class buy that story, the wealthy are "winners" who are to be admired, rather than people who have learned to game the system to enrich themselves at the expense of others.

You have a middle class mentality.

[Anonymous]

21:32 - ABSOLUTELY. She doesn't even get it. Like most.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I have to think like that in order to be wealthy or "world class," I don't want it.

+1
What a bunch of bull crap interwoven with stereotypes and a few good pieces of advice obscured by a strange slant.

I totally agree, except you should have said "condescending bull crap".