The Differences Betweeen the Wealthy and Everyone Else


I recently received an e-mail from a young lady who had doubts about the principles of wealth found in "Rich Dad, Poor Dad". She mentioned a couple of past failed investments, and wanted to know what I thought about investing and financial freedom - whether it was just a myth, or whether it could be acquired. I thought I'd share it here for the benefit of those who have struggled with investing, or perhaps from ventures that didn't quite pan out. Here's what I wrote back to her:

"Dear ________,

I want to address your point below - because I think you make a very interesting point about money. I do believe that most people have a great opportunity to put Rich Dad's principles into practice to create wealth for themselves. You said "the rich get richer"...but remember, many who are rich did not start that way (many who have a large inheritance don't stay rich for long). In fact, they started very poor, with little to no money, and worked their way to freedom. HERE ARE THE DIFFERENCES between those who achieve financial freedom and those who don't:

1) They have different beliefs about money.
The person who becomes wealthy believes differently about money than the person who doesn't. Example: The wealthy BELIEVE that "money should work hard for you" while the poor and middle class BELIEVE that "you should work hard for your money". These are opposite beliefs - so, the rich keep FINDING WAYS to have money work for them, while the poor and middle class keep FINDING WAYS to work harder for money. See the difference in beliefs, that ultimately effects the person's behavior and their results? Another example: If I believe that every person is valuable, then what happens? I treat every person I meet with respect. What about the person who believes that a particular race - African-Americans, or Asians, or Hispanics, or Americans are INFERIOR to their own race, or "bad" - how will that person treat them? With disrespect, or hatred, or both. You see? What someone believes in his/her heart correlates with how they will behave.

2) Those who become financially free never, ever give up - even after failing numerous times.
You mentioned trying a few investments that didn't work out. Why didn't they work out? I'm sure the reason comes from this one simple reason: you did not have enough information to evaluate the investment. So, even if you say "The opportunity was a scam", or "My friend made me do it", or "It wasn't the right time to invest" - all these reasons come from the fact that you did not adequately EVALUATE THE INVESTMENT. Evaluating an investment includes understanding the risks, having a contingency plan, and getting expert help to best make your decision.

3) Those who become wealthy never stop learning.
If you mess up in an investment, it doesn't mean give up. It means you look at the mistake and figure out why it happened to make sure you don't get yourself in that situation again - when you do this, you become WISER. The poor and middle class try something, and when they fail, they either blame a person or circumstances AND THEY NEVER HAVE ANYTHING TO DO WITH THAT AGAIN. That's not good! Just because I mess up one real estate investment DOES NOT mean real estate is a bad investment!

I hope this helps - I'd like your opinions on what I've shared -

To your future.

Jim"

I'm still waiting to hear back from her - in the meantime, I hope this helps you.

(C) 2005 RadiusEnterprises.com. All Rights Reserved.

Jim Young is a published author, successful real estate investor, web developer, and internet marketer. He shows people how to actually generate substantial income on-line using very simple, easily modeled systems. An example of such a system that you can study and duplicate is at: http://www.RadiusEnterprises.com


MORE RESOURCES:

New T. Rowe Price mutual fund eyes global investment
Bizjournals.com, NC - 18 hours ago
T. Rowe Price Group Inc. is launching a new mutual fund seeking reward amid the risks of global fixed-income investing. The Strategic Income Fund will ...


US investment in IT would create jobs, group says
ITworld.com, MA - 14 hours ago
by Grant Gross A US$30 billion investment by the US government in broadband, health IT and smart energy grids would create or retain nearly a million jobs, ...
New ITIF Report Documents How $30 Billion IT Stimulus Package ... eGov monitor
$30B IT Stimulus Will Create Almost 1 Million Jobs Slashdot
all 31 news articles


Advocacy group finds Texas 'under-investing' in kids
Houston Chronicle, United States - Jan 6, 2009
"The lesson here is that under-investing in our children has real consequences," said Eileen Garcia-Matthews, executive director of Austin-based Texans Care ...


CharlotteObserver.com

Wells names Wachovia execs to investment bank posts
CharlotteObserver.com, NC - 16 hours ago
By Rick Rothacker Wells Fargo & Co. today named two Wachovia executives to lead the company's combined investment banking and capital markets group. ...
Why the Mess Obama Inherits Might Be His Greatest Opportunity Mother Jones
all 125 news articles


Greentech Media

Investment in Clean Technology Suffers Steep Quarterly Decline
Wall Street Journal - Jan 6, 2009
By JIM CARLTON Venture-capital investment in clean technology fell 35% in the fourth quarter from the prior quarter amid the economic slowdown, the steepest ...
2008 Cleantech Venture Investment Reached $8.4 Billion North American Windpower
Cashing In on Clean Technology Inc.com
Clean Technology Venture Investment Reaches Record $8.4 Billion in ... Earthtimes (press release)
EE Times Deutschland - SustainableBusiness.com
all 31 news articles


You Are About to Make a Bad Investment
Motley Fool - 16 hours ago
Across 10 asset classes, over a near-40-year time horizon, and in increments of three, five, and 10 years, there's one investment vehicle that made for a ...
Find 2009's Best Deals Motley Fool
Pump Up Your Portfolio Motley Fool
Here Comes the Oil-Services Slump Motley Fool
Motley Fool
all 7 news articles


Catching a falling knife?
Boston Globe, United States - 20 hours ago
Is investing in real estate a good thing? A: I mean no disrespect to your friend, but I wouldn't place much value on his opinion unless he's been involved ...
Motley Fool | Investing: A Stock Answer Kitsap Sun
all 33 news articles


New ETFs Bank on Social Themes
Wall Street Journal - 7 hours ago
By IAN SALISBURY Among the busiest areas of the exchange-traded-fund business in 2009 could be socially responsible investing, judging by the crop of ETFs ...
Few Bright Spots for ETFs and ETNs Wall Street Journal
all 18 news articles


Global Investing Roundups
Money Morning - 2 hours ago
... to the underlying hidden order of the markets, this strategy can be used to predict the movement of any investment - to the penny - with 95% accuracy. ...
Emerging-Market Funds Lose Record $48.3 Billion Bloomberg
all 17 news articles


Orlando-based CNL Financial to launch real estate investment trust
Orlando Sentinel, FL - 19 hours ago
Orlando-based investment giant CNL Financial Group Inc. is planning to launch a new real estate investment trust investing in commercial property globally, ...
CNL, Macquarie To Launch Global REIT Real Estate Finance and Investment
CNL, Macquarie Form New Global REIT GlobeSt. com
all 5 news articles

Investing - Google News

home | site map
© 2006 TixProduction LLC