Myths that Keep You Broke #16

Myth #16 - The Wealthy Don’t Share Their Knowledge:    

If you read the headlines in our sensationalized news culture, you may believe that the rich get richer by hoarding their money and their information. But this isn’t true when it comes to the vast majority of wealthy people.

Being rich versus being wealthy is an attitude. Wealthy people tend to share their knowledge. They subscribe to a prosperity consciousness, not a poverty consciousness. They know that by sharing, they find prosperity in finances, and in life.

A key example of this is the information I have been sharing with you about the roadblocks to creating wealth and prosperity. For over twenty years I have not only grown my wealth, I have always found ways to share both my successes and failures. I have written articles and books on building wealth, I teach courses at UCLA, and I have shared in this series how I have made mistakes in both saving and spending along the way. Prosperity is a journey, not a destination and it takes learning from others to keep you on the right path.

Whether it is learning from Bill Gates, Steve Jobs, Forbes or the Harvard Business Review, the wealthy are not stingy with their knowledge.

Wealthy people are often the first to share their failures, not just their successes. They are vulnerable with the truth and hope that others can learn from their mistakes. They learned that surviving and overcoming failure, and learning to overcome the fear of failing, was actually key to their success. Wealthy people want to share that knowledge with you. The more people that have prosperity in finances and in life, the better off the world will be for all of us.

In fact, if a wealth advisor does not want to share their knowledge, it may be bad a sign.

I once had a client (we will use the name Linda) who was asking questions of her financial advisor who appeared to be a nice lady we will call Hydra. Linda simply could not understand Hydra’s statements and every time she asked simple questions Hydra got defensive as if she was questioning her intellect. It turns out, Hydra was stealing money from the accounts of her retired clients and later went to jail. Often times when people hoard information, they are also hiding greed and deceit.

This series is about finding wealth and prosperity, not becoming rich. So it is good to know the difference between rich and prosperous people. Prosperous people have nothing to hide, but much to give. Prosperous and wealthy people share their knowledge.

To Your Prosperity,

Rennie