Rich Mindset vs Poor Mindset : 6 key differences

[Razmirraz]

People always have only two choices. Just like good or bad people, rich or poor, smart or ignorant, and hardworking or lazy.
Now it is up to us to decide which of the two we will choose. If there is a poor person until he/she gets old, it is because he/she chose to be closed in his/her mind to the good opportunities that could remove him/her from the poverty he/she is in, but they did not choose it.

Back to each person, what path is chosen to live his life. Want to be rich/poor, smart/stupid, and hardworking/lazy is our own choice. But everyone wants to be rich, because if you live poor, it will be difficult to achieve what you want in life.
To be rich requires planning and effort, but to be poor does not require all of that. As the saying goes, Diligent is the root of being rich, rich people are people who are diligent in all fields in order to make their dreams come true. However, this can be achieved, but it is not easy, because to get there requires a strong effort and determination.

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[ajiz138]

The mindset of the rich and the poor is certainly different and I have my own views on how to judge and see the pattern.

Rich people always spin their money in business and they are never afraid of failure but they can make it successful.
Rich people continue to hone skills in their business even if the business they run is big they will advance in other fields to improve their skills in turning money well.
Rich people know that their money is invested long term rather than keeping physical money that will not increase.

I myself will not mention in any category but in business I will continue to do it and never stop, the same thing in bitcoin I do business here no matter how my efforts in investment or other types of business will continue to run without fear of failure.

[el kaka22]

The liability versus asset thing is real, and it is getting a bit more easier to understand by people as well. The consumption is not dropping, but it is not going as high as it used to, meaning the rate is dropping even if the amount is increasing.

This is mainly because people realized, instead of buying the brand new iphone, they could spend tat on buying stocks that pay dividends, this is not fun, but it is definitely entertaining. Debt is making a big comeback as well, because people rather make debt today, and pay tomorrow since inflation would make that debt look smaller. It is a great situation to be in, but not realized as good at first.

[EarnOnVictor]

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

🗝️🗝️ The rich believe that money makes money.

🗝️🗝️ Rich people make money work for them.
🗝️🗝️ Rich people spend on necessities and what is needed not what is desired.

🗝️🗝️ Rich people think of a long-term goals but poor people set at best short-term goals or none.

🗝️🗝️ Rich people tend to be risk takers but poor person is more likely to be risk averse.

🗝️🗝️ Rich people are eager to learn but the poor people are not eager to learn.

The OP has totally crucified the poor just for being poor, perhaps he/she has read/watched a lot of the articles or videos by these motivational speakers. Their sayings appear not to be particularly true in many cases.

Let me take your point one after the other to show my support and opposition to them.

Your point: The rich believe that money makes money.
My opinion: The poor also believe so, but they are not privileged.

Your point: Rich people make money work for them.
My opinion: Poor people are doing the same too with the little they have.

Your point: Rich people spend on necessities and what is needed not what is desired.
My opinion: The poor people are more prudent than the rich because they have limited resources.

Your point: Rich people think of a long-term goals but poor people set at best short-term goals or none.
My opinion: I agree here because impatience is there for the poor because their wants/needs can't wait that long.

Your point: Rich people tend to be risk takers but poor person is more likely to be risk averse.
My opinion: Very true, the rich have calmness in risk-taking because they have more money, insurance cover and rich friends to run to in case it boomerangs. But the poor will always fear losing the little they have because no extra money, insurance or friends to run to.

Your point: Rich people are eager to learn but poor people are not eager to learn.
My opinion: I disagree with you, poor people also learn, it is evident around you my friend. They even learn under unfriendly conditions compared to rich people. Just a piece of evidence that they learn, they are used as skilled labour in every facet of life by the so-called rich. Do you think they can fit in if they did not learn?

Conclusively, there is a lot of nonsense going on online that the rich have it better in terms of timing, management, expertise and all that. But I will always disagree with most. The only peculiarity is that the rich have money and privileges, which is why it seems as if they know and do better. Many poor people are better than the rich in terms of many things but are only unfortunate that they are poor, especially when they find themselves in a very bad country. While some lucky ones still find their way to the top, and some rich people become poor due to mismanagement.

[Renampun]

...

🗝️🗝️ 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. 🗝️🗝️

Reference: https://novamoney.com/blog/5-key-differences-between-a-rich-mindset-and-a-poor-mindset

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.

without a goal then humans will only walk without a goal (finish line)...

those who are millionaires today are those who want to learn, work smart and make more money than spend it, they know what they are going to do and also they realize that life is a struggle with big goals. Motivational sentences are not just sentences that are only read but must be practiced by everyone if want to be successful in life.

[lucates]

I see only one difference between poor and rich mindset - "the hungry person will never understand a well-fed person".

Comparison based on money is an absurdity and it completely depends on the individual, even if they are poor or rich. Everyone wants to be rich or make enough money to live a decent life. But when we compare, their mindset depends on the situation they are facing. So we can't judge or compare that, everyone is different.

[Paul Pogba]

I have many friends who are always actively participating in self-development seminars for success and have passive income, but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

[JayJuanGee]

I have many friends who are always actively participating in self-development seminars for success and have passive income, but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

Isn't the more important information about how you are going to use the information that you have observed in others in your own way forward in the world?

What are you doing?  What's your plan?  Do you think that one kind of mindset works better in terms of action that guys/gals might take in their lives?

Another thing with people who participate in seminars and they may well be acting upon information that they learn and making certain kinds of investment choices that creates income for them, but the idea of passive income does not necessarily come without a decent amount of work and/or passage of time to build up an investment portfolio, including that if your supposed "passive income" is based on some kinds of baloney products that are "generating yield", and those products end up imploding (or you get rug pulled), then in those kinds of cases, it may have appeared that you were generating passive income when the fact of the matter is that your money gets taken from you and everything that you thought that you had on paper ends up disappearing..

There are a lot of scams out there that use the terms "passive income" to get you to invest, and unless you really do end up building and being able to assure that you can withdraw funds at rate that is of your choosing, then you have to be careful with relying on those kinds of sometimes misleading marketing terms.

Building businesses does not guarantee profits either, including various risks/liabilities/burdens that can come when dealing with employees and partners and even various kinds of risk involved in whether capital is invested in property and equipment or invested in inventory - and surely it can take many years to build a profitable business, and some kinds of businesses are going to be more profitable than other kinds of businesses - which will also vary based upon your own skills and resources and maybe even your access to other people who are experienced in the industry in which you are potentially getting involved.

[Razmirraz]

I have many friends who are always actively participating in self-development seminars for success and have passive income, but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

Isn't the more important information about how you are going to use the information that you have observed in others in your own way forward in the world? ..Snip..

Exactly, I defined what you meant "other people's experiences can be taken as personal experiences". There are many ways that can be done to achieve success, one of which is by learning from the experiences of others.
Experience is the most valuable teacher, but the experience of others is a more valuable teacher, an experience will certainly be a sign for anyone to make the right decision. That way it will be easy for us to determine the goals and dreams we want to achieve, and when we start acting to live them, we will definitely get to the goals or dreams we want.

[Oasisman]

I have many friends who are always actively participating in self-development seminars for success and have passive income, but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

I see the difference there coz I've seen people like these too.
I have seen people who has been actively participating business seminars and other stuff like that and dressed formally. While the other are just selling fruits and vegetables in the market. In comparison, the person who's actually doing business in the market selling fruits and vegetables made a significant and noticeable achievements.
There's a difference between "trying to become successful" than "doing the actual work to become successful".

[bitgov]

I have many friends who are always actively participating in self-development seminars for success and have passive income, but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

I see the difference there coz I've seen people like these too.
I have seen people who has been actively participating business seminars and other stuff like that and dressed formally. While the other are just selling fruits and vegetables in the market. In comparison, the person who's actually doing business in the market selling fruits and vegetables made a significant and noticeable achievements.
There's a difference between "trying to become successful" than "doing the actual work to become successful".

If you want to grow - it is very important for your to know what is going on in the market and no one will come give you lesson.
you have to do it yourself.
It is a good idea to take a break from everything after 6 months and learn some new- its always a good idea to make an investment in yourself.

[ginsan]

This tendency of mindset sometimes has to be avoided by everyone, be it the poor or the rich, because so far we can see the reversal of different mindsets as you described. I mean rich people from their parents' property, it's not necessarily that their children will also be successful if they are not educated properly because on average in my place the children of rich people often live extravagantly because they are not educated properly so there is a waste of money which can be fatal in the future. So comparisons occur, among others, where the children of the poor seem to have more patterns in simplicity and they tend to prefer to turn things around from misery to live a prosperous life from several sectors, maybe they can save or have big dreams that they can do by studying and studying.

a little input or more details you can see read here

[Rockstarguy]

I have many friends who are always actively participating in self-development seminars for success and have passive income, but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

Do you know having high educational qualifications doesn't not guarantee someone to be successful in business. To be successful in business requires planning by doing things in the right way to make business grow. If you make research best business men are not successful in their because they have high educational qualifications. Business growth is about doing the right thing in the right way. When doing business we must consider a lot of things, sometimes the environment where we do a business may not be good for the business.  Their are other factors that can be inhibitor to business, before planning business their should be good plan and reasoning that can help push the business to grow well.

[franky1]

rich people have more opportunities without it messing up their life so they take more opportunities with less risk
poor people have more risks but dont have opportunities. but poor do take more risks
EG poor people are more likely to be gamblers/not pay rent so they can be consumers and buy things they shouldnt be buying, risking eviction

I think the opportunities that rich people have is called leverage. Every rich person hangs out with another rich person who knows another rich person.

its not so much a buddy system
its even the basics of money management/confidence

image they only have $50 spare cash a month
poor people are not thinking/looking for opportunities
they are mitigating potential future homelife surprises(risks)
(need to save this incase boiler breaks)
(dang kids need school shoes for next semester. must keep it for that)

where as rich people with spare $50 would try to turn $50 into $72 into $103. and then spend the original $50 on homelife surprises keeping 53 spare to grow more


if you gave $10 to a poor kid and a rich kid each.. heres how things play out

poor kids parents would tell kid to save it because christmas is coming and he can buy his sister a nice toy for christmas that costs $10

rich kids parents would tell kid. to buy $10 of ingredients to make lemonade for 20 glasses. and sell 20 glasses of lemonade for $1 each($20)

yes the poor kid could also sell lemonade.. nothing physically is stopping him. but thats not how he was taught to see money as opportunity, even when opportunity is just around the corner at the corner store that sells ingredients

its like the word
"appreciate"
poor: enjoy and respect money(spend it on things)
rich: accumulate and multiple(invest it)

same word different meanings

[erep]

Do you know having high educational qualifications doesn't not guarantee someone to be successful in business.

Higher education qualifications are nothing more than a formality, only signifying you have studied but not necessarily you have thought and only have a degree to insert your last name. Although the purpose of business is very broad but I have summarized in several ways being a successful businessman:
- You can develop a business according to your expertise, we see many close friends have been successful because they turned their hobbies into profitable businesses so that business is a passion.
- Good team, every business has management to be managed by an experienced team according to their expertise, so make sure you hire an experienced team and have the best job history.
- Build networks, increase productive relationships and partners to support your business for the long term.
- Improve business capabilities, the business world always has competitors to corner the top position so we must improve our ability to adapt our business to technological capabilities and always increase interaction from consumers.

[franky1]

Do you know having high educational qualifications doesn't not guarantee someone to be successful in business.

Higher education qualifications are nothing more than a formality,

businesses mostly see a degree as this:
* a person that has agreed to work(study) for X years without getting paid
*seeing someone get out of bed and do work without instant reward
*someone that is willing to put effort into bettering their life
*someone that has had years of working(classroom)  with others
*someone that take orders(teachers assignments)

this shows more about personality than skill. and yes business  decide on personality as well as skill

businesses do see the benefit of someone that done a degree in anything more then a "lacky" that has done nothing.

but with that said having a degree does not promise you a job because most state universities of 40,000 students+ per uni have dozens of thousands of people every year all getting degree's
yep if you are in a degree with 50 other students .. that is you having the same qualification as them and them competing for the job you want. so you only have a 2% chance of getting the job your classmates are also applying for.

and with that said. someone with natural talent that finishes highschool and just starts up their own business or 'learns on the job' from the bottom. could just as easily compete.. with the right motivations(personality)

. there are alot of crypto people that become successful in coding and running businesses now about bitcoin..  that never went to university to learn business or IT. they learned by just giving it a go and learning at their own pace privately at home. and showing off their skill by releasing their projects or having a portfolio of demonstrable work they can do.

poor people CAN compete with rich people that went to university. its just that poor people dont always get the free time after their 60 hour minimum wage job(to pay the bills) to then have time to learn/invest in their own future of learning from home. because they are just tired at the end of the night or dont see the point because others have told them they wont be able to compete with "college educated guys"

[SirLancelot]

I have many friends who are always actively participating in self-development seminars for success and have passive income, but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

Because people who are too educated will end up trying to find that one thing which will make them rich, and they risk putting in money to make more money. What the difference probably is that your friends who do not have any business that makes them profit would be working and earning a decent salary, not rich, but decent enough, whereas your friends who own business' would be not educated as much and they wouldn't earn a good salary, so only way to make any good income would be starting a business and risking everything.

The grocery store around my street makes more money than most educated friend I know, all because they are more brave when it comes to investing.

[palle11]

I have many friends who are always actively participating in self-development seminars for success and have passive income,

Forget about such shows that never lead the youth beyond being employees. Those who work for people and earn income will remain at the average or below good standard of living except they diversify means of income.

but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

The real wealthy people are those in the manufacturing and not consumers. If you manufacture products or consumables, you are sure of patronage and you must sell in profit to the cost of production. The past have also proved this with those wealthy grannies, they were manufacturers, service providers and not just income earners. That was how they created wealth for their households.

[Yamifoud]

I have many friends who are always actively participating in self-development seminars for success and have passive income, but for almost 4 years I have seen no significant developments, on the other hand I also have friends who are not educationally good but whose wealth continues to increase and already have dozens of employees even though he's only in the fruit and vegetable business.

Because people who are too educated will end up trying to find that one thing which will make them rich, and they risk putting in money to make more money. What the difference probably is that your friends who do not have any business that makes them profit would be working and earning a decent salary, not rich, but decent enough, whereas your friends who own business' would be not educated as much and they wouldn't earn a good salary, so only way to make any good income would be starting a business and risking everything.

The grocery store around my street makes more money than most educated friend I know, all because they are more brave when it comes to investing.

Well, education is also a big factor in why a person could think about a way to earn more money rather than just being an employee. However, sometimes it  was also a hindrance to their success for some of these educated people are having high pride and they want instant success - impatient. That is why we have seen that some of the small business players or market vendors have more money than them for they don't look for an elegant job, unlike professional people.

[Agbe]

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.

There is only one place that all of them (both the rich and the poor) are equal and that is the grave. In grave the rich and the poor share the same characteristics. But in the  living, the rich are more superior to the poor. Even within the rich there are classified into two. Wealthy and Rich. But they are all equal in the ground. God humble all there. There is social stratification in which the poor can also climb the ladder from different angle. When we come to thinking, it is not that the poor man can think well or can not take risk but the capital to take the risk one of the major issue of the poor. There is no money to start any business with if someone brought business idea which has no capital to execute it he became afraid not because of the business but he is afraid that he might lost another person money and enter debit. That is the fear of the poor man is debit while the rich man uses debit to make his money.