Monday, October 2, 2017

HOW RICH PEOPLE THINK, AND HOW CAN WE BECOME LIKE THEM




Welcome brothers to a new video of my channel brothers in dividends. As always I invite you to subscribe so you can watch my most recent (risent) videos as soon as I publish them.
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There's a quote from Bob Dylan that clearly reflects what a succesful person is:
“A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do.”
In today's video we'll talk about Steve Siebold's book called "How rich people think".
Siebold spent 26 years interviewing millionaires, investigating what they had in common among them and how they thought, and from there he stablished a series of differences between the way common people think, and the way rich people think, and why since they were young many people that would later become rich were set to achieve success and wealth.
Let's see some of those differences:
While common people think of savings, millionaires think of investment. For example, when common people save some money they put it in the bank and there it stays, producing little or nothing, while a millionaire invests it in a business, or in products that provide good rents, like shares in high dividend yield companies.
While common people think that work will provide them with well-being, millionaires think investment will provide them with well-being.
While common people think of spending when they have some spare money, rich people, in particular when they are starting, invest it.
While common people think the Government will rescue them whey they become older, millionaires choose to create their own well-being for when they become older.
A lot of common people manifest to lesser or greater extent some envy or hate towards the rich. Meanwhile, millionaires and future millionaires try to learn from other rich people. They ask themselves what did this or that person do to achieve success in life, and from there they try to find the best points of that person's road to success, then adapt them for reaching their own way towards wealth.
While common people wait for their opportunity, millionaires build their own opportunity.
While common people set limits on themselves, millionaires create none, not on their business possibilities, on their investment possibilities, etc.
Many people think the rich are opressors, while millionaires and future millionaires believe they are liberators. An example of this is a parcel in some small town; many of the townspeople would rather it remain unused feeding some sheep, while someone who thinks like a millionaire prefers a small business or industry to establish themselves there: not only will that mean direct jobs for the townspeople, but also lots of indirect jobs and maybe the start of some small service industries, increasing the possibilities of business for himself and others.
While many people hate the successful person, millionaires admire him or her; because how can you become one, if you don't admire what you want to become? hating successful people predisposes us to never achieving success for ourselves.
Something many common people assume is that the rich are more intelligent. No, intelligence is not as much of a factor in achieving wealth as attitude is.
This is important since attitude is affected by our surroundings;  if we surround ourselves with negative people who hates success, they are going to hold us back. Instead, to achieve success it is important to surround ourselves with optimist people with initiative.
And it is because having initiative is essential: a very important difference between millionaires and common people is their continuous search for their next opportunity. Every beginning is hard, everyone starts with 1 euro or dollar, but success depends above all of attitude and effort.
Many people assume that if they don't have much money, they will never become millionaires; actually, another point indicates that success doesn't depend on the money you hold in your pocket right now, but on the mental strength focused on achieving success that roars in your head.
This is one of many books I've read trying to extract lessons to achieve financial independence for myself, I share the video in case there's something here you may find valuable.
No matter what you do, best of luck in your business and investments.

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