Rich Mindset vs Poor Mindset : 6 key differences

[autumnleaf]

You shouldn't compare the status of the rich and poor because the former has access to everything while the latter has restrictions on what he may achieve, including fame and money. Rich people have all the resources they need to be educated, to earn more money, and to spend it wisely however they see fit. As a result, they can learn anything there is to know about money.

[1713452976]

1713452976

[1713452976]

1713452976

[1713452976]

1713452976

[Don Pedro Dinero]

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!

I agree. At some point I heard of a study according to which people who became rich, i.e. those who came from poor and middle-class families, believed almost 100% that destiny was in their hands. While in the middle class the percentage went down and in the poor it went down even more. I am speaking from memory but it was roughly like this.

After all, if you see money as evil, if you think the rich are evil, you won't want to get rich. Even if you would like to win the lottery, deep down you don't want to be evil, so you will never build a business or invest enough to get rich. Better to spend your money on immediate gratification, like the Iphone as you say, than to hurt your finances in the long run.

[xSkylarx]

🗝️🗝️ 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. 🗝️🗝️

The reason is rich people will still have enough wealth even if the startup won't become successful. They are more aggressive in their investments because they have many streams of income. Meanwhile poor people are very careful with their investments because their financial capability is not the same to those rich people.

🗝️🗝️ 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. 🗝️🗝️

How sure are you that poor people aren't eager to learn. There are many poor who are very eager to learn something but they can't because they can't afford it, just look at people at 3rd world countries. You'll see many smart people in poverty that have better knowledge to those rich people but can't become successful because of their financial status.

👉👉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.

Some poor people have big dreams but their financial capability is what's stopping them to achieve those. A poor person with rich mindset can still be poor forever if not presented the right opportunity. While a rich person with poor mindset can still be rich because he is born in a privileged society.

[CryptoHeadlineNews]

Another big difference between the rich and the poor is that rich people have several streams of income unlike the poor man who depends only on one for his entire life even when the output isn't sufficient enough to carter for his needs and that of his family members, hoping that someday it will get better which never comes. And just like what the famous book "Rich Dad Poor Dad" written by Robert Kiyosaki, makes us to understand that the concept through which rich & poor dads teaches their kids varies, as one teaches about the life of investing and that having much money isn't a crime the other vice versa

[DrBeer]

You shouldn't compare the status of the rich and poor because the former has access to everything while the latter has restrictions on what he may achieve, including fame and money. Rich people have all the resources they need to be educated, to earn more money, and to spend it wisely however they see fit. As a result, they can learn anything there is to know about money.

Your answer is a perfect confirmation of the topic topic. You are looking for an excuse, and you present the situation like this: the poor are always poor from birth and have no opportunity, because they are poor and they have no opportunity to change anything. And the rich - he is immediately rich, he has everything, it is easy for him, and he always pours in money, because he is rich You know the statistics - how many% of millionaires, for example, the last 50 years, had a good financial ladder, and how many percent did not have ? Look it up and you will immediately realize how wrong you are. It is always easier to find explanations for failure than to look for a path to success and achievements!

[dunfida]

You shouldn't compare the status of the rich and poor because the former has access to everything while the latter has restrictions on what he may achieve, including fame and money. Rich people have all the resources they need to be educated, to earn more money, and to spend it wisely however they see fit. As a result, they can learn anything there is to know about money.

Your answer is a perfect confirmation of the topic topic. You are looking for an excuse, and you present the situation like this: the poor are always poor from birth and have no opportunity, because they are poor and they have no opportunity to change anything. And the rich - he is immediately rich, he has everything, it is easy for him, and he always pours in money, because he is rich You know the statistics - how many% of millionaires, for example, the last 50 years, had a good financial ladder, and how many percent did not have ? Look it up and you will immediately realize how wrong you are. It is always easier to find explanations for failure than to look for a path to success and achievements!

People are just lazy and they just do tend to tolerate on their current financial condition.If they are on the situation which they are poor or on just on middle class then it turns out that they would really be just contented with that and dont make out necessary actions for you to make your life way more better.Mindset will really vary from person to person.Some might be that too optimistic and some might really be too
negative and some is somewhat in the middle.

Who doesnt really like to live out a lavish life or financially free kind of living? For sure we are all thriving for that goal but somehow to those who do have inherited huge money and properties
does always have the advantage and this is what we should accept in speaking with reality.

[jerry0]

most people don't even save much to invest?

[Lanatsa]

most people don't even save much to invest?

We know that savings arent really just for the means or investment but rather for emergencies and other means or simply people do only just love to have more fiat into their bank accounts that had been saved.

Rich mindset will really be always prefer on making more money via investment and since they are financially capable then they do always have the advantage since they could really make those actions
since they do have money to be spent unlike into those poor ones who doesnt have or limited which it would really be a difference but being poor doesnt mean that it would really be
a hindrance on making yourself improved.Its up on personal choice!

[bitgov]

most people don't even save much to invest?

We know that savings arent really just for the means or investment but rather for emergencies and other means or simply people do only just love to have more fiat into their bank accounts that had been saved.

Rich mindset will really be always prefer on making more money via investment and since they are financially capable then they do always have the advantage since they could really make those actions
since they do have money to be spent unlike into those poor ones who doesnt have or limited which it would really be a difference but being poor doesnt mean that it would really be
a hindrance on making yourself improved.Its up on personal choice!

Some people are too poor with the finances - and they spend all the money in hand and look on other people valuet for the rest of their time
on the other hand there are people who manages their finances very well - and they are the winners both in personal and professional life.
To me rich mindset is managing your finances well and maintain a balance in spending and earning

[samcrypto]

most people don't even save much to invest?

Many are just saving their money to buy things and not actually to save for investment staff.
I’ve read the book rich dad and poor dad and there’s indeed a big difference between this two. You can notice that many are still into a poor mindset where they are too attached to materials things and their wants, we cannot force them to invest of course because we all have our own timeline. If you want yourself to succeed in life, investment decision is a big factor on that.

[ChiBitCTy]

As a financial advisor who deals with peoples finances all day every day long, I can def agree with most everything stated here.  One of the biggest mistakes I see people with less money make is the lack of properly investing and overall care for their money. Take a look at people who buy lotto tickets. I’m not saying there aren’t wealthy /successful people buying them, but overall it’s a strong majority of people who don’t have much money that is. If they were smart they would invest it in something with a bigger chance of winning like say cheap marijuana stocks , or some “hot” altcoins.  Moral of the story is wealthy people make themselves that way often times. You’ve just got to have that mindset to save, use coupons, sign up for apps that give points/rewards, buy items in bulk for discounts etc. 

[Quidat]

most people don't even save much to invest?

Many are just saving their money to buy things and not actually to save for investment staff.
I’ve read the book rich dad and poor dad and there’s indeed a big difference between this two. You can notice that many are still into a poor mindset where they are too attached to materials things and their wants, we cannot force them to invest of course because we all have our own timeline. If you want yourself to succeed in life, investment decision is a big factor on that.

Just like on my neighboor who do keeps on buying up like cars (new and second hand) but all of those things are just getting from loans.Well its bad to mind off others business or plans but
turns out that they are just spending up their money on something that do really depreciate fast like cars and other things ends up on being a liability.
If you do mind on making yourself better in  terms of finances then you would be mainly minding about having some investment and saving up and trying to accumulate
as much as you could until you do able to make yourself purchase with some assets which would generate out some income.

[andriarto]

most people don't even save much to invest?

Many are just saving their money to buy things and not actually to save for investment staff.
I’ve read the book rich dad and poor dad and there’s indeed a big difference between this two. You can notice that many are still into a poor mindset where they are too attached to materials things and their wants, we cannot force them to invest of course because we all have our own timeline. If you want yourself to succeed in life, investment decision is a big factor on that.

In addition to more income, financial management must be managed properly. many people who spend their money on something consumptive, or there are people who like to save in the bank to be deposited. but all that does not make our money increase, the nominal remains the same but is depressed by the inflation rate that occurs. therefore to make our money work is by investing, for example gold, property or cryptocurrency. By investing, our money will increase and not be affected by inflation

[Poker Player]

Your answer is a perfect confirmation of the topic topic. You are looking for an excuse, and you present the situation like this: the poor are always poor from birth and have no opportunity, because they are poor and they have no opportunity to change anything. And the rich - he is immediately rich, he has everything, it is easy for him, and he always pours in money, because he is rich You know the statistics - how many% of millionaires, for example, the last 50 years, had a good financial ladder, and how many percent did not have ? Look it up and you will immediately realize how wrong you are. It is always easier to find explanations for failure than to look for a path to success and achievements!

Certainly who you are responding to is not going to get rich in life with that mentality. Aside from the fact that I don't usually talk about getting rich so much as improving your financial situation. People like him are going to remain poor all his life, while someone who believes he has room to maneuver, will make an effort, save and invest so that his economic situation will be better in the future. Barring catastrophe, the longer term, the better off they will be.

[South Park]

most people don't even save much to invest?

Many are just saving their money to buy things and not actually to save for investment staff.
I’ve read the book rich dad and poor dad and there’s indeed a big difference between this two. You can notice that many are still into a poor mindset where they are too attached to materials things and their wants, we cannot force them to invest of course because we all have our own timeline. If you want yourself to succeed in life, investment decision is a big factor on that.

In addition to more income, financial management must be managed properly. many people who spend their money on something consumptive, or there are people who like to save in the bank to be deposited. but all that does not make our money increase, the nominal remains the same but is depressed by the inflation rate that occurs. therefore to make our money work is by investing, for example gold, property or cryptocurrency. By investing, our money will increase and not be affected by inflation

While true what happens is that people have been educated into believing that any kind of investment is a huge risk and if they eventually get the courage to try their luck they use the banks as a middle man, cutting down any possible earnings and guaranteeing they will most likely never dramatically improve their living conditions, so until people learn more about how to invest their money then it is unlikely they will ever adopt the chances necessary to improve their lives.

[Hamphser]

most people don't even save much to invest?

Many are just saving their money to buy things and not actually to save for investment staff.
I’ve read the book rich dad and poor dad and there’s indeed a big difference between this two. You can notice that many are still into a poor mindset where they are too attached to materials things and their wants, we cannot force them to invest of course because we all have our own timeline. If you want yourself to succeed in life, investment decision is a big factor on that.

In addition to more income, financial management must be managed properly. many people who spend their money on something consumptive, or there are people who like to save in the bank to be deposited. but all that does not make our money increase, the nominal remains the same but is depressed by the inflation rate that occurs. therefore to make our money work is by investing, for example gold, property or cryptocurrency. By investing, our money will increase and not be affected by inflation

While true what happens is that people have been educated into believing that any kind of investment is a huge risk and if they eventually get the courage to try their luck they use the banks as a middle man, cutting down any possible earnings and guaranteeing they will most likely never dramatically improve their living conditions, so until people learn more about how to invest their money then it is unlikely they will ever adopt the chances necessary to improve their lives.

Sometimes taking some loan on banks arent really always a bad decision yet i've been doing this for past decade and it did really turn out to be positive.Lets talk about those casual physical business that we do know.If you are really that serious on having business and then you dont have any choice then you would really be taking up some loan and since bank interest isnt really that high comparing on the possible earning
that you could get on that investment of yours then you wont really be that mattering on that interest anymore thats why its wrong that you should cross out that loan option but as much as possible
if you do have the money on starting up a business then go ahead but if you dont have any other option then its not bad on going into this choice.

[Johnyz]

Sometimes taking some loan on banks arent really always a bad decision yet i've been doing this for past decade and it did really turn out to be positive.Lets talk about those casual physical business that we do know.If you are really that serious on having business and then you dont have any choice then you would really be taking up some loan and since bank interest isnt really that high comparing on the possible earning
that you could get on that investment of yours then you wont really be that mattering on that interest anymore thats why its wrong that you should cross out that loan option but as much as possible
if you do have the money on starting up a business then go ahead but if you dont have any other option then its not bad on going into this choice.

Many businesses started from a loan, and it’s not bad at all because it can also a big help for your business especially if you are planning for an expansion. Loans are ok as long as you will put it on something that generates income, but if you just use it into other things, then that could be a bad debts. There’s a bid difference between poor and rich minded, many think that they are doing good but in reality they are not, having a rich mind is not easy though it might take a lot of sacrifices as well.

[lalabotax]

Many businesses started from a loan, and it’s not bad at all because it can also a big help for your business especially if you are planning for an expansion. Loans are ok as long as you will put it on something that generates income, but if you just use it into other things, then that could be a bad debts. There’s a bid difference between poor and rich minded, many think that they are doing good but in reality they are not, having a rich mind is not easy though it might take a lot of sacrifices as well.

Commonly people use loan money for something that can generate income, but make sure it has a great opportunity to earn profits.

If it is for an expansion, it's not at the beginning of a business, but it is for the further development of an established business.
Using loan money for a business startup isn't a good idea since we don't know what the probability of success is. But if the loan money is for the further development of an established business, it is not a bad idea because we know that the chance of success is higher.

[JayJuanGee]

Your answer is a perfect confirmation of the topic topic. You are looking for an excuse, and you present the situation like this: the poor are always poor from birth and have no opportunity, because they are poor and they have no opportunity to change anything. And the rich - he is immediately rich, he has everything, it is easy for him, and he always pours in money, because he is rich You know the statistics - how many% of millionaires, for example, the last 50 years, had a good financial ladder, and how many percent did not have ? Look it up and you will immediately realize how wrong you are. It is always easier to find explanations for failure than to look for a path to success and achievements!

Certainly who you are responding to is not going to get rich in life with that mentality. Aside from the fact that I don't usually talk about getting rich so much as improving your financial situation. People like him are going to remain poor all his life, while someone who believes he has room to maneuver, will make an effort, save and invest so that his economic situation will be better in the future. Barring catastrophe, the longer term, the better off they will be.

This is one of the best of comments in this thread in the sense that each of us should be attempting to assess our own situations in terms of our financial and psychological circumstances in such a way that we are striving to build, so that with the passage of time we are more likely than not to incrementally improve our circumstances and those incremental improvements are more likely to capitalize upon themselves - even if we are likely to run into quite a few set-backs (and mistakes) along the way.  Getting rich and being rich is not likely a categorical location but a journey that we can strive to reach and we may or may not end up reaching the most lofty of our goals, but if we are working towards that direction (without over doing it, hopefully), then it is more likely that we will increasingly be putting ourselves into better situations with the passage of time.. and with the more passage of time, the more measurable the ups and downs end up showing themselves to be trajectoring in the upwards direction.

At the same time, there are no guarantees that in the long run that we will trajector our financial and psychological circumstances in the upwards direction with the passage of time, yet it seems that if we are striving to learn from our mistakes and to NOT be too radical in terms of taking too many risks (taking some risks is likely a good thing as long as we either place ourselves in a position to take risks or assess ourselves to be in a position to be able to tolerate the risks).

Each of us will be limited in terms of what we are able to achieve, and surely some folks are going to have advantages over us, so we may or may not be able to catch up financially or psychologically to some folks who are advantaged over us, but it does not seem healthy to necessarily be competing against others in any kind of obsessive way - but at the same time, it is good to set goals to be able to measure progress whether we are measuring against ourselves in various ways and/or comparing to others in the sense that sometimes we can get some better senses of progress if we are engaging in some healthy comparisons.

[TimeTeller]

Many businesses started from a loan, and it’s not bad at all because it can also a big help for your business especially if you are planning for an expansion. Loans are ok as long as you will put it on something that generates income, but if you just use it into other things, then that could be a bad debts. There’s a bid difference between poor and rich minded, many think that they are doing good but in reality they are not, having a rich mind is not easy though it might take a lot of sacrifices as well.

Commonly people use loan money for something that can generate income, but make sure it has a great opportunity to earn profits.

If it is for an expansion, it's not at the beginning of a business, but it is for the further development of an established business.
Using loan money for a business startup isn't a good idea since we don't know what the probability of success is. But if the loan money is for the further development of an established business, it is not a bad idea because we know that the chance of success is higher.

As much as possible, if you are just starting up, use what you have.
There's nothing wrong starting from small beginnings, that's when you will also see the potential of your business.
Taking a loan without the assurance of generating income, would only give you a headache because you may not collect the amount for your dues.
I can agree that if it is for expansion, then, you have better chance of returning your loan at your specified arrangements.