Rebuttal: Rich Mindset vs Poor Mindset

[EarnOnVictor]

This topic is borne out of the pain I feel when I hear/read that the rich are better than the poor. I have met with a lot of poor people, and I could feel their pains and destiny wastage as their knowledge, wisdom and dreams are being chattered due to the lack of resources and opportunities around them, not due to their mindset. Not that these people are foolish, lazy, not energetic or time conscious, but many are just unlucky with the country or environment they find themselves. Even many of the so-called rich people extract their ideas and successes from the poor, only to take the glory, honour and riches, which is the most painful part.

For this misconception (at least to me), I concluded to put this piece together so that I can read an honest opinion directly from you people. Correct me if I am wrong; the poor is better than the rich, only that they are not privileged.


Below are the excerpts from the OP I'm rebutting and the reply I gave to this misconception implanted in many by the so-called motivational speakers as far as I'm concerned:

"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/families 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."

The link to the original post: https://bitcointalk.org/index.php?topic=5411835.msg60925934#msg60925934

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[mk4]

Pretty hard to discuss which is "better" knowing that there are a crap ton of factors to take into consideration when discussing "rich" vs "poor". Arguments from both sides are painted with a broad brush, as if all "rich" people think the same, and that all "poor" people think the same as well. Which obviously is not the case.

[Jawhead999]

It's more like each person personality rather than the rich person or poor person. There's a rich person who doesn't want to work since he believe his dad business will keep successful and wouldn't collapse, but business is business, if you don't have good management, innovation and so on, your business will bankrupt. There's a poor person who work very hard to earn more money, but he used all to buy branded clothes and the value will decrease overtime.

Both of them become rekt, but they're suffering in the different way.

[Upgrade00]

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 fortunate that they are poor, especially when they find themselves in a very bad country.

I wouldn't want to pick each point and respond to them individually, but they all have a lot of generalization. You can't lump up the rich or poor into any character description or mindset. They all have individuals in both brackets which are on opposite ends of different spectrums;
• There are bums, who were born into wealth and built on privilege,
• There are people who were not and created wealth for themselves,
• There are yet those who were born into wealth and worked had to expand on that, with the privileges available to them,
• There are also those who were not privileged and did not develop a winning mentality and remained in an unfavorable situation.Saying "many" poor people are better than the rich is also a hasty generalization. What constitutes "better" and how does one's financial situation make them better than the other?

While some lucky ones still find their way to the top, and some rich people become poor due to mismanagement.

Getting rich is not luck, or is barely 5% luck. There are lots of mindset and character factors that go into play. We shouldn't downplay that, to try to make some demographic or ourselves feel better.

[Obito]

Rich people would find a way to refute your claims, pretty sure that they're going to be saying stuff that's insensitive to the conditions of the poor people and how they are almost always economically disadvantaged. Imo, we need to level the playing field that it's fair for both sides so we can see what really is the problem.

[Jemzx00]

Discussing the comparison between rich and poor people's mindsets and how they managed things can be quite hard as it will truly depend on the personality, strategy, and even hard work of each individual. You can say that poor people have great ideas but have limited resources to fulfill them however they can strategize and ask for help or even crowdfund their idea. On the other hand, rich people can also have great ideas and a lot of resources to fulfill but with a lack of strategy, it might still fail in the long run.

Both "Poor" and "Rich" Mindset cannot be compared as both can be the same and produce similar or different outcomes.

[Hydrogen]

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

#2  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.

#3  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?

1.  Lower income brackets are less likely to own stocks, bonds and invest. They're less likely to make money "work" for them by engaging in passive revenue or dividend or interest based gains.

2.  In my experience the poverty demographic is the least disciplined and most impulsive in their investment and financial strategies.

3.  Do they learn? The poverty income bracket is the most disadvantaged demographic in terms of education and learning. AFAIK it has always been that way throughout history.

[lovesmayfamilis]

Not all rich people are born rich. Someone was able to make himself. But many poor people are born that way. And if they are lazy, they will resign themselves to their status for the rest of their lives, complaining that they were not born under a lucky star. If the parents of poor children do not motivate them to acquire knowledge, then poverty will continue from generation to generation.
Be that as it may, it all depends on the person and on his desire to escape from poverty. I'm not talking about wealth, but everyone can improve their life status.
In the same way, it can be said that some rich people, without proper handling of their money, can suddenly become bankrupt, that is, poor.
Therefore, following the saying, "If you are born poor, it's not your mistake, but if you die poor, it's your mistake," you should not complain about poverty, but you should act in order not to be it.

[Oluwa-btc]

 So, What can a poor parent teach them children bout Money ?  The Rich will get better cause they do this at home to them kid's.

Not all rich people are born rich. Someone was able to make himself. But many poor people are born that way. And if they are lazy, they will resign themselves to their status for the rest of their lives, complaining that they were not born under a lucky star. If the parents of poor children do not motivate them to acquire knowledge, then poverty will continue from generation to generation.
Be that as it may, it all depends on the person and on his desire to escape from poverty. I'm not talking about wealth, but everyone can improve their life status.
In the same way, it can be said that some rich people, without proper handling of their money, can suddenly become bankrupt, that is, poor.
Therefore, following the saying, "If you are born poor, it's not your mistake, but if you die poor, it's your mistake," you should not complain about poverty, but you should act in order not to be it.

This has been the issue till date, still playing by the old rule's and rat race. Can you be specific ? ( Knowledge bout education? Money ? ) Not picking on you in the slightest way here.

Just as you have concluded, it's all for the poor to bring his/her ideas and dream's to reality. OP, dream's come to reality you know, it takes a lot of work, discipline, passion and consistency. One can't skip all of this. You have to take Bold steps to bring those dreams and positive mindset to Real life.

[lovesmayfamilis]

So, What can a poor parent teach them children bout Money ? 

I don't understand the irony. For example, I will tell you a story from my country. A poor family with several minor children is engaged in the sale of products that are given to them to sell by more affluent people. So their children are completely deprived of an education. They forbade them to go to school, explaining that helping the family at the moment is more useful than expanding the horizons of children. Children are deprived of the Internet and all the other things that ordinary children have. They are far behind in development. 
If parents wanted a different life for their children, they would probably give them a chance. 
But the future for children will be exactly the same. They will sell other people's vegetables and receive a very small percentage in return. 
There is not a single chance to get out of poverty for such people. And if we compare people who understand the value of education, they will first invest all the money in the development of their child, thereby building his future.

[Davidvictorson]

Pretty hard to discuss which is "better" knowing that there are a crap ton of factors to take into consideration when discussing "rich" vs "poor". Arguments from both sides are painted with a broad brush, as if all "rich" people think the same, and that all "poor" people think the same as well. Which obviously is not the case.

You are absolutely right. Judgment on who is better should be done on contextual bases and the metrics must be as narrow as possible. But then again it is a hard thing to do. There will always be rich people and there will always be poor people. But I will say that rich people have more opportunities than the poor. They do not just make their money work for them, they also make their network work for them too.

[Fortify]

This topic is borne out of the pain I feel when I hear/read that the rich are better than the poor. I have met with a lot of poor people, and I could feel their pains and destiny wastage as their knowledge, wisdom and dreams are being chattered due to the lack of resources and opportunities around them, not due to their mindset. Not that these people are foolish, lazy, not energetic or time conscious, but many are just unlucky with the country or environment they find themselves. Even many of the so-called rich people extract their ideas and successes from the poor, only to take the glory, honour and riches, which is the most painful part.

For this misconception (at least to me), I concluded to put this piece together so that I can read an honest opinion directly from you people. Correct me if I am wrong; the poor is better than the rich, only that they are not privileged.

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."

The link to the original post: https://bitcointalk.org/index.php?topic=5411835.msg60925934#msg60925934

What many rich don't understand, especially those who have been born into it rather than earned it (surprisingly common) is just how hard it is for people on low incomes to do any type of meaningful saving - the idea of investing would be a pipe dream. Any chance that lower income people get to save money is often overridden by immediate demands which will wipe out smaller saving pots that might have taken a long time to accrue. There is also the idea that it is expensive to be poor. People on higher incomes might spend $250 on a pair of work shoes that last three years, as opposed to those with less income who are forced to spend $100 every 9 months because they wear out a cheaper version much quicker.

[adaseb]

This is pretty much common sense.

If you got lots of money you basically can buy stocks, live off the dividends.

Or you can buy lots of real estate and live off the rental income.

Or you can buy a few businesses and have people work for you.

The saying is true. Money makes money.

[serjent05]

A poor person and a Rich person are both humans.  They both have the characteristics of a human being.  So I do not think any of them would have an advantage when it comes to personality since personality often occurs on both classes.  Also, talent and attributes also occur in both classes.  The only difference is the fund they can spend on learning certain skills, the environment they are learning, and the access to greater knowledge and tools where the rich people are at an advantage. 

For this misconception (at least to me), I concluded to put this piece together so that I can read an honest opinion directly from you people. Correct me if I am wrong; the poor is better than the rich, only that they are not privileged.

Poor isn't better than rich people nor rich people is better than poor because poor people can excel on some parts while rich people can excel on other parts.  That nullifies the advantage of each class.  It is that rich people are better at exploiting poor people making them look like a better class.  That is the fact that cannot be rebutted.

At the end of the day, this topic is subjective and has many branches of comparison to talk about where each class outperforms the other class.

[JoyMarsha]

The difference between the rich and the poor is all levelled out on their mindset, upbringing, environment and friends they keep. Your environment and the friends you keep will define what you will be in future. It plays a major role in future careers. You don't expect to hang out with a drunkard and expect to be different. Staying in your comfort zone without exploring ideas would also hinder your future whether you are rich or poor.

In life what you believe is what you get. The privilege is open for everyone to decide whether to continue being rich or poor. The decision is left for you to choose what you will end up becoming

[Stella Mese]

It is very interesting to see the point of view from two different directions. such as from the difference in the mindset of rich and poor mindset.
it's not about whether someone is rich or poor. but it's a matter of thought that can change someone's life indirectly. like if a person who has a lot of property, for example, gets a large inheritance. Well sometimes his wealth will be drained quickly if he has a poor mindset. because he will tend to spend more. in the sense of buying anything he wants without thinking that whether he needs it or not. Poor thinking is thinking that cannot distinguish between primary, secondary and tertiary needs.

[yhiaali3]

In my opinion, judging the issue collectively is wrong, it cannot be said that all the rich are better than all the poor, and vice versa, it cannot be said that all the poor are better than the rich.
There are some good rich people who put a lot of effort and time to learn and achieve their wealth and make their success, but on the other hand there are many rich people who inherited a lot of wealth without any effort and only spend money on trivial things.
The poor also, there are those of them who make great efforts to learn and improve their conditions of life and set a goal in front of them that they strive with all their strength to achieve, but there are also many of them who say we cannot do anything, we are poor and we do not have enough capital to do any work, so they remain failures without goals.

[wxa7115]

It's more like each person personality rather than the rich person or poor person. There's a rich person who doesn't want to work since he believe his dad business will keep successful and wouldn't collapse, but business is business, if you don't have good management, innovation and so on, your business will bankrupt. There's a poor person who work very hard to earn more money, but he used all to buy branded clothes and the value will decrease overtime.

Both of them become rekt, but they're suffering in the different way.

It is because of this that it is so difficult to try to make generalizations about your socioeconomic level, there are those which are born rich and they do not know what it took to reach that level of wealth so they waste it, while there are poor people that learn very quickly about the value of money and do what they can to reach a high level of wealth.

So how are we supposed to evaluate them? As poor people or as rich people? So this should show us that what matters is your mentality, regardless of how much wealth you have when you start your journey to improve your life.

[2stout]

This was a rather thoughtful rebuttal that offers a more realistic alternative and explanation to the Rich Mindset vs Poor Mindset.  This one went beyond the surface where the other one stayed on the surface. 

[Darker45]

The truth is that we cannot hastily generalize people on the basis of being rich or poor alone. It's not as if the rich have a distinct behavior peculiar to them while the poor have also theirs and it's the thing that distinguishes them from each other. So while it is indeed wrong to say that the rich are better than the poor, it is equally wrong to say otherwise.

But I agree that there is a so-called natural lottery. Lucky are those who are born into a wealthy family, rich and developed and peaceful country, for example, but this doesn't define a person's fate.