Rich Mindset vs Poor Mindset : 6 key differences

[GiftedMAN]

Also the rich and poor people do not have the same opportunities that knock on their door. While rich people can easily make money because they can just inherit the wealth of their parents and make them grow, poor  people still have to find good means the hard way just to generate money. So it’s not surprising that the rich people will tend to become richer, while poor people stay poor the whole time. It’s not only because of the mindset but the inequality of opportunities matters too.

Well, I agree with you but there are some things to consider when we talk about the inequality of opportunity between the rich and the poor.
1) Not all those who are rich today inherited wealth from their parents some worked for it.
2)Most poor people today had rich parents but they were unable to learn and control the wealth of their parents.


I have seen the case of some poor people who had the opportunity to become rich by getting good skills but they chose to depend on quick money giving jobs that will only benefit them that time but they fail to conside their future but in this case of the rich, they make use of every available opportunity so long as they know that it will be beneficial to them if not then but in future so the opportunity also gets to the poor but they either miss-use it or abuse it.

[Marykeller]

The rich and poor fall on the circle of friends you keep and your exposure. Your circle will determine the kind of mindset you end up having. If you mingle with poor people, there is every tendency you will reason like one, who doesn't have the zeal to take a risk or have life-changing opportunities. The rich people mingle with their fellow rich people and they are always open to opportunities. They utilized every opportunity brought to them, while the poor backslide when the opportunity comes knocking at their door.

[awik p]

Also the rich and poor people do not have the same opportunities that knock on their door. While rich people can easily make money because they can just inherit the wealth of their parents and make them grow, poor  people still have to find good means the hard way just to generate money. So it’s not surprising that the rich people will tend to become richer, while poor people stay poor the whole time. It’s not only because of the mindset but the inequality of opportunities matters too.

Well, I agree with you but there are some things to consider when we talk about the inequality of opportunity between the rich and the poor.
1) Not all those who are rich today inherited wealth from their parents some worked for it.
2)Most poor people today had rich parents but they were unable to learn and control the wealth of their parents.


I have seen the case of some poor people who had the opportunity to become rich by getting good skills but they chose to depend on quick money giving jobs that will only benefit them that time but they fail to conside their future but in this case of the rich, they make use of every available opportunity so long as they know that it will be beneficial to them if not then but in future so the opportunity also gets to the poor but they either miss-use it or abuse it.

there is a saying that there is nothing wrong with being born poor, but it is a mistake if we die poor. Indeed, rich people will be more facilitated in their path to become rich, but as poor people who turn rich, they will be mentally resilient in facing challenges in their business, so they will be more experienced in anticipating every problem that comes. while many rich people are not necessarily mentally strong to face difficulties in their business, because they have never overcome a similar problem before

[Rruchi man]

The mindset you have will determine the level of your achievement.

I agree, what you have not conceived and accommodated in your mind rarely becomes a reality to you. You need a big and proper mindset to achieve a lot, and another key point, something to note about ''mindset" is that it is influenced greatly by the environment you find yourself, and the people you mingle with as friends. Make a conscious effort to always be in a good environment and entertain friends with bigger mindsets than you, so they can rob off on you.

[kaseygriffin]

(...)Conclusion
👉👉Recognize where you stand and how you would like to move forward. Having a poor mindset may made your poor forever. The mindset you have will determine the level of your achievement.

👉👉Never get confused about your recent status. Confusion brings distracted and lack of focus. It never to late for a change in mindset. Work on yourself, think positively, be focus, have a dream and work towards your dream to achieve great success.

I am thinking about the material issues that are controlling the consciousness of people, and they are distinguishing between material wealth and poverty to talk about a bunch of different issues. I understand and agree with many of the problems going on in society every day when we are all subject to material constraints, unless you really see it as just a tool for the better functioning of life. Because what I realized in life is that happiness is not suffering. Even if you are rich or poor, it is still something you lack, have excess of or are looking for.

[2stout]

heres a good financial example of mistakes poor people make

imagine there is a car worth $20k, on a 4 year loan with 0%
a poor person pays $5k a year. $416 a month(AFTER TAXES). and its in their name. but not their property until final settlement payment. after 4 years even on a 0% interest. that poor person has actually paid $22k of their pretax salary, for a car they might get to own that becomes $10k value if you then sold
thus minus $12k loss

a rich person hires a car for $200 a month.. which over 4 years is $9.6k
but they claim the payments as a tax deductible meaning they only actually paid $9.6k that period.
thus saving $12.4k they didnt need to spend in that first period.

..
poor people like to "own" things that break down, need repair and end up costing them more then they realise.

rich people plan to avoid owning things that can break/cost them more long term.

Yes, some people tend to acquire liabilities rather than assets. A car can be considered as a liability cause you would definitely spend money to maintain and keep it running in good condition. People with little to no income who rush to acquire luxury goods are living hand to mouth yet feel the need to acquire such goods. With such mindset, the individual would probably remain poor.

A car is a liability if it's not needed or if getting more car than you need or can afford.  In many situations, a car is a necessity as it may be your way to work and establishing a career.  Not only this, but it may be your way to a better job, opportunity, or moving up the career ladder should you need to commute a little further.  And of course you're going to need a reliable vehicle to maintain employment and remain gainfully employed, until you get to a point that owning car is no longer necessary.

[Oasisman]

I don't have anything against the lists from the OP's point of view towards the 2 different mindset. However, this is gonna be the reality of the world. We can't just be all rich, and we can't be all have the same mindset and personality.
We have businessmen and we have the consumers. These rich people can't be rich without the consumers. These consumers or poor people might either be contented with how little they have or that they don't have enough capacity to understand the business world.
So, we cant just shame poor people for being poor. If you're fortunate enough to be living comfortably because you're rich, just be thankful for that.

[Bitstar_coin]

Poor people see bear season as an opportunity for them to purchase coins and hold until the bull season come before they can sell....

Even in bear market most poor people don't have the guts to take advantage, their mindset is always the price can go lower and they will lose money, they don't have a long term vision as stated above. They are the type that like to fomo into the market during ath and later cry when the market goes down.
Rich on the other hand, knows how to take advantage of both bull and bear market because majority are long term players, they are daring when others are fearful. Right now btc is cheap but most poor people won't buy because they can't stand to lose a scent out of their money.

[Zilon]

The gap between the poor and the rich is a thin line that demarcate how the respond to opportunities and also the extent to which they are open to information. A person can have all the wealth but still poor and a someone who looks hungry can be open to opportunities and information that  will transform their lives for ever. Money is not a measure of wealth its only symbolises comfort riches begins from how much information an individual gathers and how the respond to those informations

[arwin100]

Poor mindset always think about some important things that they can do now they will do it but they decide to pass and do the job tomorrow. And also spending habits is so bad and always rely that they have money will come again on next month and this is one poor decision to made.

While having rich mindset avoid any unnecessary things which is not needed and they always spend according to what they earn and stay inside without exceeding the limits and also they always think about saving because they always make sure to have extra money to use for emergency. Not only that rich minded people always think about business and other things that can generate them a good income flow and this is good to follow because for this we may have good future to follow.

[amishmanish]

I do agree with most of your points but being rich also need people to be very mean these days. A lot od good honest hard working people end up being poor, but a lot of people get rich by taiking advantage of the naive poor fellows. So in todays world we swldom see people getting rich just by their virtues, many a time vices also play part

[Cryptomultiplier]

You forgot to mention the most important skill of almost every rich person-knowing how to sell.
We live in a market economy and knowing how to sell a product or service is the ultimate skill. Creating a great product and providing a great service is really important, but it's not enough for scaling the business. That's why marketing and writing sales copy are so in demand in the modern day world.
The poor usually don't have that skill and they don't want to develop it.
Another really important skill is persistence. Many poor people can't achieve success simply because they dive up too early.
I really successful person would persist until achieving his goals and dreams. He or she would even fail a couple times before achieving the desired goal. Poor people are too afraid of failure.

One distinction I have realized between the poor and the rich mindset is Education. Not all education sums up to paper degrees, but being educated in the aspect of marketable skills; personal discovery of a passion that can be honed, mastery of the skill one already has, consistent pursuit or realization of a worthy idea, can help develop the mindset that attracts money.

[Webetcoins]

A person can have all the wealth but still poor

How is that possible? I mean they already have all the wealth in the world and they cannot earn anymore. I think what you mean to say is there are rich people who are not yet contented on what they have but they didn't deny their wealth. They don't consider their selves poor.

and a someone who looks hungry can be open to opportunities and information that  will transform their lives for ever.

That's great. Not only that they are literally hungry and want's a food to eat but they are also hungry for opportunities therefore they seek for information. Many rich people do also start like this but their attitude is slightly different to the kind of rich people that we talked about earlier. They don't work for their selves but they work so that they can give their family a better life and they donate most of their money to the people that are in need.

[Rockstarguy]

There is a wide gap between the rich and the poor. They both have different mindset.

🗝️🗝️ The rich believe that money makes money. They see money as an opportunity but the poor people see it as something to be earned. 🗝️🗝️

🗝️🗝️ Rich people make money work for them. Instead of just working and relying on income, a rich person would take a proportion of their income and invest it but the poor people are said to work for money. A poor person sees $1000 as just $1000. A poor person works paycheque to paycheque for the rest of their life. They neither save nor invest any part of their income. 🗝️🗝️

Poor people are fully aware that money brings more money but they do not have the opportunity to make money from they have. Poor people earn little income and sometimes because of financial responsibility they are not able to invest part of of the income they earn because it is not even enough to sort out financial situation that is at hand. The truth is that if everyone have the opportunity to get money,  they will make plans to generate more money from it. Money makes the rich man to think as an investor  but when a man is poor people feels he can't think well to make money  not knowing that he is helpless.

[noorman0]

-snip-
Rich people tend to be risk takers but poor person is more likely to be risk averse. For example, when given an opportunity to invest in a startup, poor people are more likely to immediately turn this down. They do not see this as a chance to increase wealth. They see this as a reduction of their disposable income.

This is true, but you gave the wrong example. Investing actually does not care about socioeconomic status, the obligation to avoid risk must also be considered. Rich people are mostly able to take risks because they can measure the level of risk.

The old quote, "Even a brave man will not blindly jump into the ravine, but enter slowly with his eyes open and first measure the depth."

[Zilon]

A person can have all the wealth but still poor

How is that possible? I mean they already have all the wealth in the world and they cannot earn anymore. I think what you mean to say is there are rich people who are not yet contented on what they have but they didn't deny their wealth. They don't consider their selves poor.

I don't really see riches or wealth as physical substances because it can vanish if not well managed or if the possessor of such wealth is limited to a certain pattern or routine of information. its only open minded innovators that can sustain wealth. I prefer to refer to riches based on how easy an individual is able to adapt to new trends and technology in any discipline. So i believe someone can be rich but still poor in the mind and since their mind is poor there are high tendencies of losing their wealth in the future

[DrBeer]

To understand the difference - just listen to a poor man and a rich man (who is self-successful) as they talk about money!
The poor will constantly whine that there is not enough MONEY, everything is bad, I am poor, I have nothing, etc. But at the same time, he gets into loans and buys a new iPhone in order to create for himself the illusion of some "normal standard of living."

Rich will be interesting to tell that he found a new direction for investment, found a new "topic" for making money, talks about how he found the opportunity to spend less, especially in the field of regular payments, etc.

Total:
The poor man says that he is a SLAVE of money, and his OWNER does not respect him much as a slave.
The rich man talks about money as his good helper!

[Findingnemo]

Rich people makes money in more than one ways which should also has to be pointed out, if someone relies on particular thing for their earnings then their whole life is under risk if its gone someday whereas rich just keep exploring new way and more ways so they reduce the risk factors by accumulate cash flow with different risk sectors.

Actually, rich people take more risks because they loan money and then they put all that money to possibly grow out their business. Also, their earnings on their business will be re-invested again on that same business or on other types of business that they will like to add/venture. This is something that can't be done by a poor people or people with poor mindset.

They think it is too risky, hard or simply they are only lazy, that is why they only stick on their comfort zones. That was still fine as long as they will learn to save up so that when they get fired or their contract ends, they will have something to get before they can find another job again.

Rich people have the money in their bank account or as some other form of assets that is going to be their loan money which leads them to take high risks and if it backfire they have money to pay back the debt but with poor they are probably going to start the business with the debt money which puts them in a trap of being conservative cause they have to pay the monthly mortgage payment or it will affect the credit score.

[Mauser]

🗝️🗝️ Rich people are eager to learn but the poor people are not eager to learn. Most millionaires in the United States were not born millionaires, they learnt how to build wealth. The more they learn, the more they understand the world. 🗝️🗝️

I am not so sure about this one. It is true that money can buy a better education than you will able to get from the public school and university system. Having the best teachers and support is one thing, you still need to bring in the effort and motivation to actually learn. For someone born into a rich family who already has everything it's very different to someone who has to work if he wants to get far in life. I agree with you that there is a difference in general education and learning how to invest money and how to become financially independent. There are good books like "Rich Dad, Poor Dad" which help a lot to get a different perspective and a more wealth focused mindset. The important thing in my opinion is to save money each month and invest it cleverly. Like you wrote, rich people like to invest instead of consuming today. If you can delay your consumption in the future to take it out of the interest and profit you get from your investment it's much more sustainable for long term wealth growth. 

[2stout]

I believe too much emphasis and credit is being given to being rich and also rich is being defined myopically in terms of material/money.  Yes, in a lot of cases their is a difference in mindset but the biggest difference between rich and poor is circumstances, meaning if you you change the circumstances of either, the "mindset" also changes too due adjusting to circumstances and they will be typically be respectively worse or better off.  Also, consider, most money is old money or begotten from such and new money may perhaps refer more to the rich mindset in the OP.