Today we go over how to stop thinking like a poor person, and how to start thinking like a rich person. Rich people are rich because they think like a rich person, and poor people are poor, because they think like a poor person.
How To Stop Thinking Like A Poor Person And Start Thinking Rich
Einhorn’s FOF Re-positions Portfolio, Makes New Seed Investment In Year Marked By “Speculative Exuberance”
It has not just been rough year for David Einhorn's own fund. Einhorn's Greenlight Masters fund of hedge funds was down 3% net for the first half of 2020, matching the S&P 500's return for those six months. In his August letter to investors, which was reviewed by ValueWalk, the Greenlight Masters team noted that Read More
Below if you think like a poor person you always are going to be poor in this video. I'm going to break down exactly how rich people think into nine different areas. And I think the seventh idea is really going to surprise you after this video you will know if you have the mindset of a rich person or the mindset of a poor person the first major difference between rich people and poor people is that rich people think big and poor people think small. These are the people who will spend an extra hour in the clothing store trying to look for a pair of socks that are only 5 percent off trying to save only two dollars. A rich person does not think like this a rich person is thinking how can I improve myself and make my time more valuable so that one hour of my time could be worth thousands of dollars instead of just five dollars. Time is the most valuable asset that we have. And it's very important that we use it wisely. The second biggest difference is that Port people have a gambler's mentality meaning they want something for offering nothing. Rich people understand that if you want something you have to offer value. And the reason why you don't have more money is because you have not offered enough value to the world. Poor people think how can I take more rich people think how can I offer more. The third biggest difference is that poor people think traditional education is going to lead to riches. Rich people do believe education will lead to riches but it is only self education that will lead to this.
Rich people will spend the time to get very good at a specific skill and become a specialist in something. The fourth reason is that rich people don't get envious of other people. When a person sees a rich person they will usually think to themselves that this person must have cheated to get rich or he must have gotten lucky. This is sometimes the case but more often than not the rich person got there by working harder and smarter than the average person. When a rich person sees another rich person they do not assume the person is dishonest. They think to themselves as long as I keep working hard I will get there one day. This goes beyond just making money. When a poor person sees someone who is very fit in the gym they will think to themselves This person must be on steroids. There's no way he could have gotten this naturally. The idea of just him dieting and working hard couldn't be possible. The next reason may seem obvious to you but it is crucial for you to understand. Rich people usually are optimists and poor people are pessimists. If you have ever wanted to get real financial success at some point you need to take a risk and if you are 100 percent of a pessimist then you probably won't ever take a risk because you will assume the worst will happen while an optimists are very keen to take a risk. However you can't be 100 percent optimistic either. You need to have a healthy balance of the two.
But in my experience from the people I've talked to rich people are generally more on the optimistic side. The six idea is that rich people manage their money very well. Poor people do not manage their money well. When a poor person wins the lottery and this is usually the case because wealthier people don't usually buy lottery tickets. A lot of the time they will lose the money very quickly because they have no idea how to manage their money. If you want to be financially successful you need to learn when to save and when to spend. An opportunity might come along for you to invest in something but if you don't have the money to do so you will not be able to. The seventh reason is the one that will probably surprise you. Believe it or not very rich people typically do not have much of an ego. The moment when you think you know everything is the moment when you stop learning. Rich people constantly are trying to learn and grow. Poor people are the ones who think they know everything. Rich people are always trying to surround themselves with people who are much smarter than they are and the reason why they do this is because they're always trying to learn more and more. And they are never content with where they're at. It's often the poor people who have an ego think they know what they're doing and they think something is impossible. You need to develop the rich mindset and to lose your ego because the moment when you lose your ego is the moment when you'll start to learn so much more. The last reason is a little more abstract.
Rich people have this belief that they have great power within them. They believe that they can change and influence the world. Especially now with YouTube and the Internet. Truly anything is possible right now my voice is reaching thousands of people across the world. We live in a time where it is easier than ever to impact the world and the people around us. I would encourage you to seize the opportunity and to do the thing that you've always wanted to do. Be an optimist not a pessimist. So there you have it. Do you have the mindset of a rich person or a poor person just to be clear. I'm not hating on port people at all but the poor person's mindset can be very detrimental to your life and the need to develop a rich person's mindset in order to get to where you want to go in your life. If you enjoyed this video please leave it Alake and let us know in the comments what your thoughts are on being rich and being.