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.”

How the Rich Think by Steve Siebold Part 4

building wealth is a solitary effort vs building wealth is a team effort

a.            I know this is a true statement because that is at least how andrew carnegie did it and i know the vast majority of the middle class are doing it the solitary route, i.e. their 401ks or solitary wealth building and not partnering with people either in business or investments.  I need to find a team member who wants to do the copy writing and social media blogging for my business.

I also want to work with people to try and do a flip someday.

worries about money vs dreams about money

a.            They’re after money so they don’t have to worry about money, and then once its taken care of they know they’re mentally and physically free to focus on their highest and best self and reach self actualization.

I loved that quote and I love how the different mentalities of the rich allow them to feel more natural and receptive as they're working and working on their businesses and jobs.

money is negative vs money is positive

a.            the rich keep charities afloat, tax base for infrastructure of countries

i.                List of things I’d do if I were a millionaire:

1. Sleep in
2. go out to eat more
3. buy new wardrobe of clothes including shoes, suits, ties, pants, shirts, belts
4. I’d go to fiji, greece, visit europe, africa, australia, see mt everest
5. I’d buy a nicer reliable car for me and ashlee and maybe a beater car as a second car
6. i’d buy a motorcycle
7. i’d buy ashlee a nice bike
8. i’d buy a nice tablet
9. i’d like to work out with a personal trainer and get in really good shape
10. i’d start even more businesses
11. i’d buy a nice projector or tv to watch movies and sports and play games on
12. i’d get a nicer house for the kids to play in and then i’d also hire out the yard maintenance of the whole thing
13. i’d buy rental properties to diversify my income
14. I’d likely go on a mission at some point

rich people are shallow vs rich people are strategic

a.            The rich see themselves as honest and strategic, and make no secret about their desire to build their financial empire. They are straightforward and direct in their approach. They have no interest in manipulation or unethical practices. Their chief aim is to get rich, in an honest, aboveboard manner, by serving others.

I love how people blast the rich, when really on the whole they can't possibly be rich and be shallow as people see through that and reward accordingly.

How the Rich Think by Steve Siebold Part 3

being rich is a privilege vs being rich is right

funny cause the middle class just finished participating in the largest lotto in history years after this book was written

I wrote the above because I believe the book says that the middle class doesn't think they deserve to be rich and good.

money is complicated vs money is simple

a.            Do I believe I have what it takes to be rich?  To be honest I’m not really sure.  I can of course make and have made a steady paycheck for years, and I’ve got some freelance work, but suuuuper sporadic and that is why I have my doubts about it.

b.            When I read his comment of, “Just for today, keep telling yourself that making money is simple” and how that’d make me feel before I even finished reading that I felt a calm and easiness within me.  It quickly left, but initially I felt it.

I think my hesitation and doubt stem from a legit lack of knowledge on money and how to make it on my own. While we went to the library a lot growing up and read plenty of books and had lots of books in the house growing up I don't ever really recall reading anything about investing and making money (serving people and providing value) until out of college. By then I was thoroughly indoctrinated in the middle class way of thinking and doing things to make a living in a linear fashion.

This year I'm wanting to read at least one book per month on investing subjects I'm interested in and working on business outside of my regular 9-5 job.

rich people are crooks vs rich people are ambitious

a.            Because of the average person’s unwillingness to accept full responsibility for his or her results, they are eager to criticize society’s most successful in an effort to minimize their achievements and justify their own mediocrity.

Loved that above quote. I see this all the time. People knocking the president's of their companies or their peers in church who are wealthy or friends or family or people they're dating. Its everywhere and prevalent the personal attacking of the rich to help hide their own insecurities. It happens all the time in school with bullies. I love this video that pokes fun of this very thing.

https://www.youtube.com/watch?v=CUvFeyGxaaU