If you were to ask Steve Siebold what it takes to become rich, he’d tell you that being rich has little to do with what you do, and more with how you think. After interviewing millionaires from all over the world, Siebold gathered his findings in a book titled, “How Rich People Think”, described as so “brutally honest it will shock some and inspire others.”
In the book Siebold highlights every aspect of becoming wealthy; from beliefs about the root of all evil to faith in what drives the financial markets, and what parents should teach their children to set them up for financial success.
Here we share a few of Siebold’s findings to hopefully inspire your road to riches:
Rich people believe poverty is the root of all evil… while average people think money is the root of all evil
People in lower-income communities have been brainwashed to believe there is a certain dishonesty that comes with becoming rich, suggests Siebold. “The world class knows that while having money doesn’t guarantee happiness, it does make your life easier and more enjoyable.”
Rich people think selfishness is a virtue… while average people think selfishness is a vice
“The rich go out and try to make themselves happy. They don’t try to pretend to save the world.”
Average people on the other hand view such as a negative, and it’s that mentality that keeps them in their state of scarcity. “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,” asserts Siebold.
Rich people have an action mentality… while average people have a lottery mentality
While the majority are waiting on miracles to happen, the achievers are solving problems, Siebold says.
“The hero most people are waiting for is maybe God, the 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.”
Rich people dream of the future… while average people long for the good old days
“People who believe that their best days are behind them rarely get rich, and often struggle with unhappiness and depression,” states Siebold.
“Self-made millionaires become rich because they are willing to bet on themselves and project their dreams, goals and ideas into an unknown future.”
Rich people think about money logically… while average people see money through the eyes of emotion.
An ordinarily-smart, well-educated and otherwise successful thinker can be turned into a fear-based, scarcity-driven thinker whose greatest financial aspiration is to live a comfortable life in retirement, Siebold declares.
Whilst the masses see money for what it is and what it’s not, through the eyes of logic, the great ones know that money is an essential tool that brings with it options and opportunities.
Rich people follow their passion… while the average people earn money doing things they don’t love.
The average person thinks that the rich are always working. However, the difference is that rich people do what they love to do and find a way of getting paid for it.
In comparison, the working class are in positions they don’t like because they have been taught from an early age to think and live in a linear world that balances earning money with physical or mental effort.
Rich people are up for the challenge… while average people set low expectations so they’re never disappointed.
“Psychologists and other mental health experts often advise people to set low expectations for their life to ensure that they are not disappointed,” suggests Siebold.
“However, no one ever gets rich and lives their dreams without huge expectations.”
Rich people would rather be educated than entertained… while the average people would rather be entertained than educated.
Even though rich people do not rely heavily on formal education to further their wealth, they appreciate the power of learning long after their studies are completed.
“Walk into a wealthy person’s home,” suggests Siebold, “and 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.” In the meanwhile, the middle-class are busy reading novels, tabloids and entertainment magazines.
Rich people find comfort in uncertainty… while average people want to be comfortable
The main goal for the middle-class mindset is psychological, physical and emotional comfort, says Siebold.
“On the other hand, the rich learn from an early age that becoming a millionaire is difficult and the need for comfort can be devastating. The world class thinkers learn to be comfortable while operating in a state of uncertainty,” adds Siebold.
Rich people know when to take risks… while the average people play it safe with money.
“Leverage is the watchworld of the rich,” Siebold affirms.
“Every investor loses money on occasion, but the world class knows no matter what happens they will always be able to earn more.”
Steve Sieboldis a former professional athlete and national coach. He’s spent the past twenty-six years studying the thought processes, habits, and philosophies of world-class performers. He’s a writer, speaker, and consultant on the topic of mental toughness. His clients include Johnson & Johnson, Toyota, and Procter & Gamble. He’s written five books on mental toughness, two of which have become best sellers with over 130,000 copies in print. His national television show,Mental Toughness with Steve Siebold, won the 2007 Telly Award for best motivational show. He has been interviewed on theTodayshow,Good Morning America, ABC News, FOX Business Network, the BBC in Europe, NBC Australia, and dozens of others. He is in the top 1 percent of income earners in professional speaking.