A Rich Mindset vs A Poor Mindset: 6 Big Differences

4 min read

rich mindset poor mindset

One absolute truth about reaching Financial Independence is “the only way to achieve it is to have the right mindset.” One of the biggest misconceptions is that to achieve this, you have to have some kind of advantage over another. That’s simply not true. Changing your mindset from a poor mindset to a rich mindset can make all the difference.

Did you know that, statistically, the wealthiest individuals out there actually buy yachts, multiple homes, personal airplanes, or very expensive vacations? There is a big difference between being rich and looking rich.

Today, we are going to uncover all these misconceptions of what it takes to become rich. Let’s go over the differences between a rich mindset and a poor mindset.

1. Wealthy people stick it out

For the majority of people out there, when things get stuff, they give up. There is truth in the saying that anything worth doing is hard. If everything was easy, everyone would be wealthy. That’s simply not the case.

Wealthy people have a Knack of sticking it out through thick and thin. When things get hard, giving up is simply not an option. Wealthy people would rather struggle and suffer through it because they see the light at the end of the tunnel.

Wealthy people will simply understand that they are great rewards that are reaped to those who push through hardships. Your first step is to Simply switch out your mindset and not easily give up.

Most people give up. Outlast them so you’ll end up at the top

2. Wealthy people celebrate others

This is something I have personally seen firsthand, and I wish things were different. Most people see others succeed and celebrate their successes. They embrace the competition and enjoy seeing others succeed.

When you have a poor mindset, you feel jealousy and bitterness when you see other people succeed. People with a poor mindset believe that’s the only way to succeed is to bring somebody else down. That is simply not true.

There is enough wealth in the world to go around without having to take some from somebody else. Wealthy people understand this, people with a poor mindset do not.

The journey to Success and Financial Independence is not a zero-sum game. Celebrate and learn from other people’s successes so you can apply them in your own life. Yes, it’s easier said than done, but by training yourself to you celebrate other people’s successes, you’ll start to see the change in your own life.

3. Wealthy people find their own luck

It was a few years ago when I first really understood this concept. Wealthy people, to the average person, seem to just get lucky. It almost seems like is on their side and not on others. Although luck may have a part to play in some successes, there is more to it.

Wealthy people understand that in order to become lucky, you must go out there and find luck. You don’t find luck by sitting at home playing video games and watching movies every single day.

Instead, you find luck by getting out there and attacking opportunities as they come across you. If you find a potential business venture, you can either participate or go home and watch Netflix all day. Who is more likely to become lucky with this business venture?

When you have a poor mindset, you tend to sit at home and hope for luck to find you. Life simply does not work that way.

Wealthy people understand that luck is something you look for, not the other way around. If you really want to become wealthy, go out there and find Opportunities. Luck is inside one of them, and it’s only by finding it that you experience this thing called ‘luck.’

4. Wealthy people set goals

As trivial as this might sound, setting goals is an absolute game-changer when it comes to reaching Financial Independence. I want you to do a little experiment.

Within your Social Circle ask your friends what their financial goals are for the next five or ten years. Chances are, the majority of them will make something up on the spot but don’t really have a written plan or goal to attain them.

The majority of people out there live life day by day without thinking about their future and their financial goals. How does one expect to reach their destination without setting a course? Impossible!

Wealthy people understand this. Like anything else in life, having a goal and a clear path of attaining it is absolutely critical. Those with a poor mindset only live for the moment and never consider the future.

The past is gone, but the future is coming. Better start planning for it now before it’s too late

5. Wealthy people care about their reputation

In this world that we live in, reputation is everything. Those that have a rich mindset completely understand this, whereas those with a poor mindset think reputation does not matter.

Here is an example. Have you ever gone to a restaurant, had terrible food and service, but went back again? Chances are, they have already ruined their reputation in your eyes. It only takes one time to completely lose any Trust from someone.

Those with a poor mindset waste so much time feeling like the world is unfair and that it owes them something. The world does not work that way. The world rewards those that work hard, especially those with an excellent reputation.

6. Wealthy people know they can’t do it all

I’m sure you’re familiar with the saying “Jack of all trades, master of none.” This saying is a perfect illustration of one of the biggest differences between a wealthy mindset and a poor mindset.

Wealthy people understand that they can’t do everything. There is much greater Valley and focusing on one’s core strength and trying to do it all. When you’re trying to do it all, you spread yourself too thin and you aren’t as effective.

Those that have a poor mindset wholeheartedly believe that they can do everything just as long as they work hard enough at it. That’s unfortunately simply not true.

The wealthy understand that others are likely better at something than they are. In those circumstances, it makes complete sense to have that other person do it so you can focus your attention on your strengths.

Final thoughts

When it comes to wealth and reaching your financial goals, your biggest critic will always be yourself. Your mind plays a much bigger role than you think. Having a rich mindset or a poor mindset is what will determine your fate.

It’s not about luck, upbringing, where you’re from, or who you married. It’s about your mindset and how you truly deeply feel about your Financial Journey.

You could read all the books and belongs that you want, but if you don’t have a wealthy mindset, it’s much harder to achieve those financial goals. These key differences between a wealthy mindset and a poor mindset will give you a good idea of where you stand.

The mind is just like any muscle. Work on it and it will get stronger. Take these differences too hard, work on them, and see your own life unraveled before your eyes. You will reach your financial goals faster than you could have ever imagined!


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