Monday, April 25, 2016

How the Rich Think by Steve Siebold Part 5

Road to riches paved with formal education vs road to riches is paved with specific knowledge

I really like this point because while formal education is ok and good I only think it is if it is teaching concrete skills that can contribute in the marketplace. The rich go to seminars and classes and read books to give them venture specific knowledge that they can use immediately.

money is earned thru labor vs money is earned thru thought

worries about running out of money vs thinks about how to make more money
a.            Sooooooo good…”poor people spend this time worrying about what they’ll do if they lose their job, get sick, or exceed their budget through poor planning or bad luck. Most of this worry is a waste of time, not to mention the negative, destructive psychological impact it has on their minds and the physiological havoc it wreaks with their bodies. Living in fear isn’t living; it’s surviving.”
b.            Wealthy people are often criticized for being obsessed with money, but the truth is, it’s the poor, working, and middle class that spend the most time thinking about it.
c.            If the masses would upgrade their limiting beliefs about money and redirect their mental energy to new and exciting ideas, they would experience financial abundance.  This totally jives with what James Altucher says.
d.            Money flows to great ideas like water. The secret is learning how to turn on the faucet.  This is what I need to figure out how to do!!!!!!!!!!!
e.            How much time do you spend worrying about money compared to the time you spend engaged in creative problem solving?  I definitely spend way more time on money problems then creative problem solving.  Hopefully my sessions with Tyler will help me with that.

thinks about spending vs thinks about investing

a.            To further exacerbate their frustration, they’re scolded by financial experts who insist they discipline themselves and trim their spending….holy shiizzzz tell me this isn’t MMM to the T.
b.            The world-class answer is to double or triple your income and create enough wealth so you can enjoy the good life to your heart’s desire without worries.
c.            Decide to double your income in the next 2-5 years. You don’t have to know how to do it yet. The first step is to decide to make it happen.

sees money thru the eyes of emotion vs sees money thru the eyes of logic

a.            a middle-class thinker can’t teach you how to become a world-class thinker.  Someone living a restricted existence can’t tell you how to live an unrestricted existence. And a poor person can’t teach you how to get rich. These statements are obvious to any rational thinking person operating from a logic-based mindset.

b.            “A wise man should have money in his head, but not in his heart.”

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