Episode 148: What Separates the Wealthy from the Ordinary – Transcript

Episode 148: What Separates the Wealthy from the Ordinary

Hi Folks, Welcome to episode 148 of the Wealth On any Income Podcast. This is where we talk about money tips, techniques, attitudes, information and provide inspiration around your business and your money. I’m your host, Rennie Gabriel. In past episodes we spoke about how to understand the numbers from your business, how to measure the level of pleasure based on where you spend your money, how to track your money in 5-10 seconds, what determines how close you are to Complete Financial Choice®, and how to run your business without being IN your business.And last week we had Mitch Axelrod speaking about how to license your intellectual property. Today there is no guest. You will have me speaking about the attitudes of financially wealthy people. 

As you may know, after two divorces and a business failure I was flat broke at age 50 and started over from near nothing. I maybe had $3,000 to my name. By the time I was age 58. After investing in some apartment buildings with my wife and a realtor, I no longer had to work for a living, I was able to do this by saving up $18,000 at $500 a month, for three years. Now, I could have used that money to pay off my credit card debt, but instead, I invested the money. One of the things that I say often is that the worst thing to do is focus on paying off debt. Your number one priority should be focusing on creating a net worth so you don't have to work and you can choose to work instead. 

Now, you may be on my email list and have seen me write about the difference between the attitudes of ordinary people compared to the attitudes of the wealthy. Well, T Harv Eker, who maybe you've heard of, talks about the poor versus the rich. And it gave me an idea to talk about the attitudes of the wealthy based on one of my books, and that's a focus of this episode right now. But to me, Rich versus poor, is too black-and-white. I also find the terms demeaning. And because someone appears rich, does not mean they're wealthy. You can see rich - fancy cars, fancy clothes, fancy houses. People who are showing off the amount of money they're earning, you cannot see wealthy, you don't know if someone has reserves. If they have investment real estate, if they have a large stock portfolio, or if they have significant passive income. The wealth you don't see the rich you can see. 

Now if you'd like a deeper cut at this topic, please check out - and that means purchase - my book, Attitudes of the Wealthy from my Wealth On Any Income website. The book covers 32 attitudes the wealthy operate by that ordinary people are mostly unaware of. And as a reminder, 100% not only of the profits - but of my books, 100% of the purchase price - is donated to charity. With my programs and coaching, 100% of the profit is what's donated to animal and veteran charities. With the books, it's 100% of the purchase price. 

So getting back to T Harv Eker. He says rich people think big and poor people think small. But what is big versus small. There are people I know personally, who have more than 1000 rental units. My wife and I only had about 50 units at the most. In my mind, I was thinking small. However, our 50 units created a very large net worth more than 90% of the population. And so that 90% I probably looked like I was thinking big. The point is a change in mindset can shift you from ordinary to wealthy when you take action on that new mindset. So here are some examples that I've edited from T Harv Eker. 

1. The wealthy create and write down their goals. Ordinary people let circumstances and life happen to them. 2. The wealthy look for opportunities. The ordinary focus on obstacles. 3. The wealthy hang around and model other wealthy and successful people.Many people who are poor, or a lot of ordinary people resent and are jealous of wealthy and successful people. This is where you can ask yourself if you're jealous of wealthy and successful people, or are you modeling them?

Here are a few more attitudes to consider. 4. The wealthy sell themselves and what they can do in their business. Ordinary people think selling and promotion is bad. 5. The wealthy are paid based on results. Ordinary people sell their time for money. Like, how much are they earning per hour. 6. The wealthy continue to grow by learning. Ordinary People often think they already know it all. Well, are you continuing to learn and grow? What podcasts are you listening to or what books are you reading?

So this is a short episode. And I've come to near the end to all those who are listening. If you'd like to know how books, movies and Society programs you to be poor, and what the cure is, then log on to WealthOnAnyIncome/TEDx. You will hear my TEDx Talk and can request a free 9-Step Roadmap to Complete Financial Choice® and Philanthropy and it's going to have a complete explanation of each of the 9 steps. You will also be able to get a weekly email with tips, techniques, or inspiration around your business or your money. And, if you would like to see how you can increase your wealth and donate to the causes that touch your heart, please check out our affordable program Wealth with Purpose also on the www.WealthOnAnyIncome.com website. To my listeners, thank you for tuning in. You can listen to the Wealth On Any Income podcast on your favorite platform and please rate, review and subscribe.  Until next week, be prosperous. Bye, bye for now. 

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