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Good article on the rich vs. the average
Posted on 9/4/12 at 2:25 pm
Posted on 9/4/12 at 2:25 pm
LINK
Definitely worth the read.
Had a friend ask me about #11 and I posted a pretty great rant on it. I'll repost here if the thread gets significant interest.
Definitely worth the read.
Had a friend ask me about #11 and I posted a pretty great rant on it. I'll repost here if the thread gets significant interest.
10
Posted on 9/4/12 at 2:57 pm to TheHiddenFlask
Pretty good and I agree with the rich even though I am pretty average. Almost the entire first page is "money". The back 10 aren't so great IMO.
My favorites are:
My favorites are:
quote:
Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.
Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.
Average people have a lottery mentality. Rich people have an action mentality.
This post was edited on 9/4/12 at 2:58 pm
Posted on 9/4/12 at 3:04 pm to TheHiddenFlask
Cool find!
Flask, have you read "Coming Apart" by Charles Murray (co-author of Bell Curve)? Some of it goes pretty deep into the behavioral differences between your average Joe and a truly wealthy, high earning person.
Flask, have you read "Coming Apart" by Charles Murray (co-author of Bell Curve)? Some of it goes pretty deep into the behavioral differences between your average Joe and a truly wealthy, high earning person.
This post was edited on 9/4/12 at 3:11 pm
Posted on 9/4/12 at 3:12 pm to TheHiddenFlask
This one sticks out the most to me and speaks the most truth in my encounters.
10. Average people believe you need money to make money. Rich people use other people's money.
Linear thought might tell people to make money in order to earn more, but Siebold says the rich aren't afraid to fund their future from other people's pockets.
"Rich people know not being solvent enough to personally afford something is not relevant. The real question is, 'Is this worth buying, investing in, or pursuing?'" he writes.
10. Average people believe you need money to make money. Rich people use other people's money.
Linear thought might tell people to make money in order to earn more, but Siebold says the rich aren't afraid to fund their future from other people's pockets.
"Rich people know not being solvent enough to personally afford something is not relevant. The real question is, 'Is this worth buying, investing in, or pursuing?'" he writes.
Posted on 9/4/12 at 3:21 pm to Cdawg
That's a bit disturbing, but at least partially true.
Posted on 9/4/12 at 3:41 pm to dewster
quote:
Flask, have you read "Coming Apart" by Charles Murray (co-author of Bell Curve)? Some of it goes pretty deep into the behavioral differences between your average Joe and a truly wealthy, high earning person.
Nope. Is it worth the read? My amazon wishlist hasn't been depleted much lately. I need to do more business traveling.
Posted on 9/4/12 at 3:55 pm to TheHiddenFlask
Like any Yahoo list, some are legit and some are ridiculous stereotypes from pop culture....I don't know if I'd ever post a yahoo article as a source for anything of substance.
Posted on 9/4/12 at 3:55 pm to TheHiddenFlask
#17 is probably the one that I emulate best on the list.
I firmly believe in #21 as well.
Wife doesn't really believe in any of these. But then again she see money as the average person does...
I firmly believe in #21 as well.
Wife doesn't really believe in any of these. But then again she see money as the average person does...
Posted on 9/4/12 at 5:10 pm to TheHiddenFlask
quote:
Average people have a lottery mentality. Rich people have an action mentality.
quote:
Average people long for the good old days. Rich people dream of the future.
quote:
Average people see money through the eyes of emotion. Rich people think about money logically.
quote:
Average people set low expectations so they're never disappointed. Rich people are up for the challenge.
quote:
Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.
quote:Don't agree with all of the article, but the above are pearls.
Average people live beyond their means. Rich people live below theirs.
Posted on 9/4/12 at 5:14 pm to TheHiddenFlask
I found it to be a difficult article to read, but only because I believe that is calls attention to many of my weaknesses, and they can be difficult to face at times.
Posted on 9/4/12 at 5:18 pm to Cdawg
quote:
Average people believe you need money to make money. Rich people use other people's money.
But ... but ... but ... Dave keeps telling us to stay away from debt!
Posted on 9/4/12 at 5:30 pm to Cdawg
quote:
Linear thought might tell people to make money in order to earn more, but Siebold says the rich aren't afraid to fund their future from other people's pockets.
This could turn into a slippery slope. I see what you're saying, but I think there's a big difference in an investment in an idea you're confident in and just taking it because you don't want to work for it.
Posted on 9/4/12 at 5:33 pm to foshizzle
quote:In fairness, Dave's reference is likely to indebtedness, not leverage.
But ... but ... but ... Dave keeps telling us to stay away from debt!
Posted on 9/4/12 at 5:39 pm to TheHiddenFlask
quote:
Had a friend ask me about #11 and I posted a pretty great rant on it. I'll repost here if the thread gets significant interest.
So, bet on the bettors, not the horses/jockeys right?
Great article, would love to see your rant.
Posted on 9/4/12 at 9:08 pm to TheHiddenFlask
I'm about halfway through "Coming Apart". It is a bit dry sometimes, but I'm enjoying the read very much. Like "Bell Curve", it is very eye opening and helps provide perspective on the social structure in white America that might not have gotten at my age (having grown up in south Louisiana and worked primarily blue collar jobs before MBA school).
I recommend it to someone in your field of work and education level- especially because it discusses the behavioral and cultural differences between the cognitive elite and the average Joes.
I recommend it to someone in your field of work and education level- especially because it discusses the behavioral and cultural differences between the cognitive elite and the average Joes.
This post was edited on 9/4/12 at 9:14 pm
Posted on 9/4/12 at 11:14 pm to NC_Tigah
quote:
Average people would rather be entertained than educated. Rich people would rather be educated than entertained.
This is pretty much the bottom line. Average people want to hang out, relax, play, recreate, etc. Rich people want to produce.
And I'm not calling the average people lazy, it's just time, effort and resources directed to entertain themselves rather than move ahead.
Posted on 9/4/12 at 11:15 pm to foshizzle
quote:
Average people believe you need money to make money. Rich people use other people's money.
But ... but ... but ... Dave keeps telling us to stay away from debt!
Of all people, you should know better than this.
Dave talks about buyers debt. Getting out of debt for consumption.
Using other peoples money, from a rich person's point of view, is almost always an equity transaction.
Posted on 9/4/12 at 11:19 pm to NC_Tigah
quote:
In fairness, Dave's reference is likely to indebtedness, not leverage.
It's a lot easier to walk away from business debt than personal debt, in most cases. The truly well off have welshing on their debts down to an art form.
Posted on 9/5/12 at 7:24 am to TheHiddenFlask
That was a good article.
Posted on 9/5/12 at 7:56 am to GumboPot
quote:
Using other peoples money, from a rich person's point of view, is almost always an equity transaction.
Can you give a simple real world example of this type of transaction.
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