In Episode 1, I shared what Poor think about Money and in this episode, we’re gonna take a look at how Rich think about it.
The main difference between the Rich & Poor about money is:
“Poor Work For Money & Rich have Money work for them”
What poor think about money is on the 180° (opposite) thinking of the Rich.
Rich don’t work for money by working for 8–10 hours a day or more. Their life is not controlled by emotions: FEAR and GREED.
#1. FEAR — OF LOSING MONEY:
Rich don’t FEAR of losing money. So what they do is they invest it/throw it into a business/startup or take their own initiative.
There is an important thing about investment which I am gonna share later. Rich know that the world is full of opportunities, every day, every moment, there are opportunities passing by them that can make them RICH. On the other hand, Poor have the FEAR of losing money that stops them from investing in any opportunity passing by.
What is the difference between a Poor (who has overcome the fear) and a Rich:
Poor investor (the one who has invested or took initiative) will suffer because he lacks “Financial Intelligence”. I agree that investing money is a risky thing and it can get you bankrupt, too.
Rich make usage of “Financial Intelligence”. Financial Intelligence is all about measuring the opportunities around that has got lesser risks. So, they make use of “Financial Intelligence” (the education/understanding of how money would flow) and BOOM, they get success.
What Poor do is they invest blindly (partially or totally). They don’t measure the opportunities for risks. Rather, they throw their money and due to a greater percentage of risks, they fail most of the time.
What I wanted to convey is that Rich ake use of the BRAIN that Almighty has bestowed them with. They find opportunities, finalize the opportunities with lesser risks and then they start working. While Poor and middle class suffer as they don’t analyze the opportunities and they start working on it.
#2. GREED — To have the best lifestyle!
The worst example of greed is to stack money. Like, saving money for a trip to somewhere when you’re living hand to mouth. Why don’t take a risk which has fewer percentages of risk and throw?
Rich don’t make this emotion overcome their mentality and thoughts. They work, they make money, have good income generating assets and then they fulfill their greed of having a sports car, a beautiful wife, a beautiful home and the list goes on.
Robert Kiyosaki quotes an example of a newly married couple that is living in a rented apartment. Both work 9–5 in order to meet their expenses. Paying monthly for the apartment arises the need of their own house. So, they work their a** off and they buy a home. Later, they spend their number of salaries in purchasing the matching furniture and the decoration of their home.
They get old but they’ve not made money making asset or business. So, they keep working, get paid, pay bills, meet their expenses and the loop continues till their death.
Now, the need for a home was due to greed & fear both. The couple thought if they lose money how will they pay the rent, so in order to overcome the fear they bought a home working their *** off. The thought about having their own home where they can have a grassy lawn in front and live peacefully. That’s the involvement of greed to have a good lifestyle.
What Rich think is; they take house as a liability, not an asset. So, they work on assets (that generate income with a spontaneous flow) rather than working for building homes and then living working 9–5 whole life.
That’s all for episode #2!
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