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21 Ways Rich People Think Differently

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  • Post #261
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  • Feb 26, 2014 3:56am Feb 26, 2014 3:56am
  •  michaelpelly
  • Joined Oct 2012 | Status: Member | 2,245 Posts
Quoting Mingary
Disliked
{quote} And who pays your bills while you "seek a way for more income (preferably passive)" ?
Ignored
How do you think? Who pays the bills?

Seeking for a way to secure assets is not in any way contradictory to have a normal financial life, at least in my reality...
 
 
  • Post #262
  • Quote
  • Feb 26, 2014 4:02am Feb 26, 2014 4:02am
  •  Mingary
  • Joined Mar 2011 | Status: I should be on your ignore list | 5,595 Posts
Quoting michaelpelly
Disliked
{quote} How do you think? Who pays the bills? Seeking for a way to secure assets is not in any way contradictory to have a normal financial life, at least in my reality...
Ignored
I agree.

Keep what you have and get what you can.
 
 
  • Post #263
  • Quote
  • Feb 26, 2014 4:13am Feb 26, 2014 4:13am
  •  michaelpelly
  • Joined Oct 2012 | Status: Member | 2,245 Posts
Quoting Mingary
Disliked
{quote} I agree. Keep what you have and get what you can.
Ignored
Right! :-) That is more alike. There is Sunshine for everyone - the only difference is the patience and the focus towards the desired things.
 
 
  • Post #264
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  • Feb 26, 2014 9:31am Feb 26, 2014 9:31am
  •  fuzz
  • | Joined Feb 2014 | Status: Member | 159 Posts
Quoting michaelpelly
Disliked
{quote} Right! :-) That is more alike. There is Sunshine for everyone - the only difference is the patience and the focus towards the desired things.
Ignored
Agree, one must be willing to endure bad times and maintain focus to achieve wealth
 
 
  • Post #265
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  • Mar 2, 2014 11:25am Mar 2, 2014 11:25am
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
6 millionaire myths, just find this here http://finance.yahoo.com/news/6-mill...000000873.html

The Myth: Millionaires Live Lavishly

In most cases, millionaires have gotten to where they are precisely because they've practiced excellent savings habits and live frugally. They learn to make smart choices, and they don’t stop just because they hit the $1 million mark. If anything, they’re validated by seeing the choices they’ve made paid off

The Myth: Millionaires Are Smarter

Rather than having lots of book smarts, what most millionaires have is a knack for setting goals for themselves and working toward them — without letting excuses get in their way. They, too, have to deal with unexpected expenses — plumbing leaks, health insurance increases, car trouble. They just keep moving forward despite the inevitable obstacles they have to overcome.

The Myth: Millionaires Are Just Luckier

Millionaires are the luckiest among us, right? They won the lottery, struck gold with their very first attempt at launching a business or haphazardly landed their dream jobs with massive salaries. Not so: Pure luck is not a factor in achieving success. Rather, truly successful people make their own luck. After all, a million-dollar idea is worth nothing without execution.

The Myth: Most Millionaires Were Born Into Money

Another common myth is that millionaires were born into money or inherited it. But that's not often the case. In a recent survey, Fidelity Investments found 86 percent of millionaires are self-made. And among the more than 100 millionaires I interviewed for my book, each was self-made and only 26 percent of them said they even had connections to important people beforehand.

The Myth: Millionaires Have to Be Fearless

Most millionaires find a happy medium between optimism and pessimism; they figure out how to examine opportunities realistically. They acknowledge amazing potential, but work tirelessly to learn and predict beforehand to make sure their investments pay off.

The Myth: They Earn Million-Dollar Paychecks

It’s true that many millionaires have earned their money by starting (or selling) their own businesses or finding high-paying positions within organizations. But this certainly isn’t the only way to amass $1 million. In his book “Millionaire Teacher,” Andrew Hallam explains how he saved over $1 million as a teacher well before retirement age, outlining how he used low-cost index funds and a disciplined approach to saving, investing and living on a budget to build a nest egg most of his fellow teachers would envy.
 
 
  • Post #266
  • Quote
  • Mar 2, 2014 12:44pm Mar 2, 2014 12:44pm
  •  LizardGizzard
  • Joined Jan 2005 | Status: Grizzled Member | 847 Posts
PoundTrader hits the nail on the head, at least with the millionaires I've known over my lifetime.
There's always money in the banana stand.
 
 
  • Post #267
  • Quote
  • Mar 3, 2014 1:14am Mar 3, 2014 1:14am
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
Quoting LizardGizzard
Disliked
PoundTrader hits the nail on the head, at least with the millionaires I've known over my lifetime.
Ignored
 
 
  • Post #268
  • Quote
  • May 26, 2014 12:43am May 26, 2014 12:43am
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
bump im bored
 
 
  • Post #269
  • Quote
  • May 26, 2014 2:50am May 26, 2014 2:50am
  •  chiefwarrior
  • | Commercial Member | Joined Oct 2013 | 61 Posts
12. Average people live beyond their means. Rich people live below theirs.


15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained.



POSSIBILITIES ARE INFINITE, YOU CAN ACCOMPLISH ANYTHING!
 
 
  • Post #270
  • Quote
  • May 27, 2014 12:03am May 27, 2014 12:03am
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
Quoting chiefwarrior
Disliked
12. Average people live beyond their means. Rich people live below theirs. 15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained.
Ignored
Most rich people prefer to work then play and have fun, they work 99% of the time and 1% for fun
 
 
  • Post #271
  • Quote
  • May 27, 2014 12:08am May 27, 2014 12:08am
  •  albchr
  • Joined Mar 2009 | Status: Member | 25,480 Posts
Quoting PoundTrader
Disliked
{quote}Most rich people prefer to work then play and have fun, they work 99% of the time and 1% for fun
Ignored
And that 1% fun... is 99% more fun than poor people will ever have.
Ghost Rider - WWTBMD?
 
 
  • Post #272
  • Quote
  • May 27, 2014 2:58am May 27, 2014 2:58am
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
Quoting albchr
Disliked
{quote} And that 1% fun... is 99% more fun than poor people will ever have.
Ignored
true, because when they do have fun they do it big
 
 
  • Post #273
  • Quote
  • May 29, 2014 7:40am May 29, 2014 7:40am
  •  chiefwarrior
  • | Commercial Member | Joined Oct 2013 | 61 Posts
Quoting albchr
Disliked
{quote} And that 1% fun... is 99% more fun than poor people will ever have.
Ignored




Work hard and play hard, you might say!


POSSIBILITIES ARE INFINITE, YOU CAN ACCOMPLISH ANYTHING!
 
 
  • Post #274
  • Quote
  • May 29, 2014 8:00am May 29, 2014 8:00am
  •  simonb
  • | Membership Revoked | Joined May 2014 | 370 Posts
Quoting PoundTrader
Disliked
bump im bored
Ignored
Hm... Rich people think of bumping their own threads when bored. Poor people don't even have a thread, or the internet, or a computer, or a house, actually poor people are dead because they don't even have food for their stomachs and probably ate their own poop for breakie.
like totally failure brah
 
 
  • Post #275
  • Quote
  • May 29, 2014 8:54am May 29, 2014 8:54am
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
Quoting simonb
Disliked
{quote} Hm... Rich people think of bumping their own threads when bored. Poor people don't even have a thread, or the internet, or a computer, or a house, actually poor people are dead because they don't even have food for their stomachs and probably ate their own poop for breakie.
Ignored
http://www.easyfreesmileys.com/smile...mileys-442.gif
 
 
  • Post #276
  • Quote
  • May 29, 2014 4:18pm May 29, 2014 4:18pm
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
how rich people invest

  1. Property 23%
  2. Equities 21%
  3. Bonds 21%
  4. Gold 3%
  5. Commodities 2%
  6. Currencies 3%
  7. Cash 15%
  8. Other 12%

 
 
  • Post #277
  • Quote
  • Jun 1, 2014 3:30am Jun 1, 2014 3:30am
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
rich people farts poor people shits
 
 
  • Post #278
  • Quote
  • Jun 1, 2014 7:45pm Jun 1, 2014 7:45pm
  •  Fractalist
  • Joined Jan 2014 | Status: Member | 109 Posts
Quoting PoundTrader
Disliked
http://finance.yahoo.com/news/21-way...ly.html?page=1 1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil. 2. Average people think selfishness is a vice. Rich people think selfishness is a virtue. 3. Average people have a lottery mentality. Rich people have an action mentality. 4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge. 5. Average people long for the good old days. Rich people...
Ignored
Umm, not exactly. How about this:
1) Average people think that Greed is the root of all evil; rich people think that Greed is good.
2) Selfishness is a vice - period. Rich people disbelieve this and so try to invent some BS rationalization to explain away their vice.
3) Both Average and Rich have a lottery mentality. The difference between the two is that the poor play with their own money, lives, and labor. Rich people's plans require the use of other people and their assets without fully compensating them for that use.
4) Average people think that the road to riches is paved with formal education because the rich have indoctrinated them to believe so, so that they may become useful to their schemes.
5) Average people long for the good old days when the economy was not so comprehensively stacked against them. The rich dream of a future Total Plutocracy where they can be Neo-Feudal Overlords without pesky restraints from governments.
6) Neither Average nor Rich view money in any way other than emotionally. Ask a rich man for a quarter and watch how emotionally agitated they get. Ask for new tax laws and the fury comes out.
7) Average people earn money doing things that they don't love. Rich people don't earn anything. They 'obtain' money thru the efforts of those who they control via their brute-force capital advantage. If they love that domination, that speaks poorly to their character.
8) Average people are happy with low accomplishment because that represents a big win for one operating within the economic constraints imposed upon them by the rich.
9) Average people know that you have to do something to become rich because inaction doesn't attract power. Rich people often did nothing to acquire their wealth, so they feel that they simply have to 'BE' wealthy.
10) Average people believe that you need money to make money because you do. Rich people ignore the moral requirements to not steal the economic utility of others assets, and simply use/steal that which belongs to others without fairly compensating them for said use.
11) Average people believe that the markets are drive by logic, strategy, greed and fear. The difference with the rich is that they don't have to be even 1% as smart as the average to win, due to their capital advantage. An idiot can make a steady high income if they have $1,000,000 in their trading account. Simply don't exit any trade until it wins, even if that takes years to happen.
12) Average people live beyond their means because said means have been stolen by the rich. The means that the rich live within aren't their own.
13) Average people teach their children how to survive in a world which is stacked against them. Rich people teach their children how to take advantage of the other children they see around them, and teach them that this is 'good'.
14) Average people are stressed by money because they are perpetually close to disaster, by design. Rich don't worry about this because if they screw up, they can always get Congress to bail them out.
15) Both average and rich prefer entertainment to education. The rich life demands little personal strengths to do well, so there is no point to 'bettering yourself' when you are already the 'best' of all kinds of people.
16) Rich people are snobs. They esteem themselves superior just because they have been successful in taking advantage of other people. It is reasonable that they choose to around their own kind, just as Mafioso prefer the company of their own kind. They get less pesky criticism that way.
17) Average people focus on saving. Rich people focus on earning. The one true thing you said, and the one way in which the rich are right.
18) Average people play it safe with money because they cannot recoup losses with the same ease as the rich and the costs of failure are far higher. Rich people take more risks because they have little or nothing of their own actually at stake.
19) Everybody loves to be comfortable. If you think the rich don't, have a quick look at the houses and cars they own. The rich are constantly inventing new extravagance in comfort and luxury all the time. Spartans, they are not.
20) The connection between money and health is known by all. The rich see no problem in taking the very life away from people so that they may have more in excess abundance for themselves.
21) Average people invest more into their personal lives and family because that is all they have. Rich people believe that they can have it all; by stealing it from others. They can and do.

I don't know you and am not making any statements about you or anybody in particular. But the ideas you posted are counterproductive to a civil society.
 
 
  • Post #279
  • Quote
  • Jun 1, 2014 7:51pm Jun 1, 2014 7:51pm
  •  Ill-b-back
  • Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Rich guys probably don't fart arse around on FF thinking it will make them money.
They already have a lot of money.

They F.A. around on FF because it's fun
Come with me if you want to live....
 
 
  • Post #280
  • Quote
  • Jun 2, 2014 1:17pm Jun 2, 2014 1:17pm
  •  PoundTrader
  • Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
i had to spread out fractalist quote above so i can read it


1) Average people think that Greed is the root of all evil; rich people think that Greed is good.

2) Selfishness is a vice - period. Rich people disbelieve this and so try to invent some BS rationalization to explain away their vice.

3) Both Average and Rich have a lottery mentality. The difference between the two is that the poor play with their own money, lives, and labor. Rich people's plans require the use of other people and their assets without fully compensating them for that use.

4) Average people think that the road to riches is paved with formal education because the rich have indoctrinated them to believe so, so that they may become useful to their schemes.

5) Average people long for the good old days when the economy was not so comprehensively stacked against them. The rich dream of a future Total Plutocracy where they can be Neo-Feudal Overlords without pesky restraints from governments.

6) Neither Average nor Rich view money in any way other than emotionally. Ask a rich man for a quarter and watch how emotionally agitated they get. Ask for new tax laws and the fury comes out.

7) Average people earn money doing things that they don't love. Rich people don't earn anything. They 'obtain' money thru the efforts of those who they control via their brute-force capital advantage. If they love that domination, that speaks poorly to their character.

8) Average people are happy with low accomplishment because that represents a big win for one operating within the economic constraints imposed upon them by the rich.

9) Average people know that you have to do something to become rich because inaction doesn't attract power. Rich people often did nothing to acquire their wealth, so they feel that they simply have to 'BE' wealthy.

10) Average people believe that you need money to make money because you do. Rich people ignore the moral requirements to not steal the economic utility of others assets, and simply use/steal that which belongs to others without fairly compensating them for said use.

11) Average people believe that the markets are drive by logic, strategy, greed and fear. The difference with the rich is that they don't have to be even 1% as smart as the average to win, due to their capital advantage. An idiot can make a steady high income if they have $1,000,000 in their trading account. Simply don't exit any trade until it wins, even if that takes years to happen.

12) Average people live beyond their means because said means have been stolen by the rich. The means that the rich live within aren't their own.

13) Average people teach their children how to survive in a world which is stacked against them. Rich people teach their children how to take advantage of the other children they see around them, and teach them that this is 'good'.

14) Average people are stressed by money because they are perpetually close to disaster, by design. Rich don't worry about this because if they screw up, they can always get Congress to bail them out.

15) Both average and rich prefer entertainment to education. The rich life demands little personal strengths to do well, so there is no point to 'bettering yourself' when you are already the 'best' of all kinds of people.

16) Rich people are snobs. They esteem themselves superior just because they have been successful in taking advantage of other people. It is reasonable that they choose to around their own kind, just as Mafioso prefer the company of their own kind. They get less pesky criticism that way.

17) Average people focus on saving. Rich people focus on earning. The one true thing you said, and the one way in which the rich are right.

18) Average people play it safe with money because they cannot recoup losses with the same ease as the rich and the costs of failure are far higher. Rich people take more risks because they have little or nothing of their own actually at stake.

19) Everybody loves to be comfortable. If you think the rich don't, have a quick look at the houses and cars they own. The rich are constantly inventing new extravagance in comfort and luxury all the time. Spartans, they are not.

20) The connection between money and health is known by all. The rich see no problem in taking the very life away from people so that they may have more in excess abundance for themselves.

21) Average people invest more into their personal lives and family because that is all they have. Rich people believe that they can have it all; by stealing it from others. They can and do.

I don't know you and am not making any statements about you or anybody in particular. But the ideas you posted are counterproductive to a civil society.
 
 
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