Tonight I was reading a new book The Top 10 Distinctions Between Millionaires and the Middle Class by Keith Cameron Smith
The first chapter really blew me away. He explains how very different each of these groups are and their mindsets.
Examples:
very poor think in terms of day to day, (daily cash, survival)
poor think in terms of week to week (paycheck to paycheck, cash it quickly)
Middle class think in terms of month to month (mortgage, monthly electric bill, etc)
Rich think in terms of Year to year ( How can I lower my taxes, what will my profits be this year, etc)
Very Rich think in terms of decades (what will my real estate holding be worth in 10 yrs, how can I create more busness(s), etc)
The very poor and poor are always thinking survival
The middle class is thinking comfort
The rich and very rich are thinking freedom !!!:banana:
I can relate to this because years ago I was thinking weekly then monthly. My mindset was how will I pay my credit cards or how will I pay for my car lease.
Today I think in yearly context almost Subconsciously. Typically I'm more strategic with taxes every year or I focus on how to raise my rents and lower expenses on my buildings this year ,etc
Do any of you see the correlation in your experiences with these various types of people and how has your mindset changed since you headed toward the fastlane???
Check out the book, its excellent
Thanks
Frank J
The first chapter really blew me away. He explains how very different each of these groups are and their mindsets.
Examples:
very poor think in terms of day to day, (daily cash, survival)
poor think in terms of week to week (paycheck to paycheck, cash it quickly)
Middle class think in terms of month to month (mortgage, monthly electric bill, etc)
Rich think in terms of Year to year ( How can I lower my taxes, what will my profits be this year, etc)
Very Rich think in terms of decades (what will my real estate holding be worth in 10 yrs, how can I create more busness(s), etc)
The very poor and poor are always thinking survival
The middle class is thinking comfort
The rich and very rich are thinking freedom !!!:banana:
I can relate to this because years ago I was thinking weekly then monthly. My mindset was how will I pay my credit cards or how will I pay for my car lease.
Today I think in yearly context almost Subconsciously. Typically I'm more strategic with taxes every year or I focus on how to raise my rents and lower expenses on my buildings this year ,etc
Do any of you see the correlation in your experiences with these various types of people and how has your mindset changed since you headed toward the fastlane???
Check out the book, its excellent
Thanks
Frank J
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