Learn the 13 Core Mindsets of Truly Rich People
How are truly rich people different from average people? They have the same amount of time and face the same problems in life.
The answer lies in their mindsets.
Here are their 13 core mindsets that differentiate them from average people.
Truly rich people have an “I dream big” mindset
Truly rich people dream big. They have big audacious goals. They know that by setting big goals, they will wake up every day inspired by their big goals. Big goals excite the truly rich people because it helps them create even more wealth.
When dreaming big, truly rich people write them down so that they can see it regularly and it inspires them.
They even put their big goals in a dream board which has attractive photos of their goals. This will serve as a constant reminder for them to achieve their dreams.
Truly rich people don’t keep their dreams to themselves. They share it with others because they know they need help in achieving their dreams.
Very often, their big dreams involve creating value and making a positive impact on other people. This allows them to reap the financial rewards of serving more people through a business.
I act mindset
Truly rich people are action oriented. They have big goals, but at the same time, they break it down into smaller goals and actions that will help them achieve their big goals. They create systems and develop valuable habits that allow them to be successful on a daily basis.
Truly Rich people have an action bias. They face the same problems like many normal people do, but instead of complaining and resigning to their fate they take massive and consistent action to be one step closer to achieving their goals.
I create mindset
Truly rich people are creators. They know that creating things like businesses are the keys to creating wealth. This mindset allows them to avoid endless consumption of information through social media and the internet.
Instead, they use the knowledge they have to create assets like websites and online stores that bring value to people. Through these digital assets, they can generate new income streams and get even richer.
I invest mindset
Truly rich people believe in the power of time and compound interest. Hence, they invest heavily. They put their money to work and allow time and compound interest to do its task of multiplying their wealth.
This investing mindset teaches them discipline and the art of delayed gratification which helps boost their success tremendously.
Truly rich people have a diversified portfolio. They invest in stocks, bonds, mutual funds and they also have insurance to protect their loved ones and to lessen financial risks due to health or danger.
An investing mindset makes truly rich people patient. They know real wealth is built through time and not by gambling or betting on the sweepstakes.
Truly rich people started investing when they were young. They were frugal and put their savings to work by investing in the stock market.
Some of the earnings they make from businesses are also channeled back into their business to invest and make it grow further. As a result, truly rich people keep growing themselves and their businesses.
Compound interest is at work when your investment earnings are reinvested to further generate more earnings.
I give mindset
Truly rich people are generous. They know that the law of the universe is about giving. What you give, it will come back to you. So the more generous they are, the more the universe gives back to them.
Aside from money, truly rich people are generous with their time and giving their advice to worthy people and projects. By being a mensch, they can grow their network, boost their happiness and give value to the world. At the same time, they get to grow their personal brand and become extremely likable because of their generosity.
Truly rich people believe in helping others improve their economic situation, and so they give to organizations like Kiva.
I learn mindset
Truly rich people are learners. They are humble enough to know that they don’t know everything.
As learners, they are truly curious on how the world works and how they can improve themselves.
This leads them to the learning path, and they set aside time daily to read and learn new things.
They believe that learning is growing and that the knowledge they get can be used to give more value to the world and ultimately grow their wealth.
Since truly rich people are action biased, they know that they will not just consume the information they read. Most importantly, they will act on it.
Part of their routine is reading, and they use little pockets of time to get more reading done.
As a learner, they are curious about many things, and so they learn different things. The result is that they can connect different fields of knowledge and create inventions or new theories that can transform society and how they understand the world.
I grow mindset
Truly rich people have a growth mindset. They believe they can improve and do better their work.
The growth mindset allows them to persevere and to treat mistakes as learning opportunities.
Average people have a fixed mindset, and so they don’t seek to improve. Truly rich people are the opposite. They are always in constant improvement even though they are doing well already. They know they can always improve in whatever circumstance if they put their mind on it.
The growth mindset gets them going when things get hard because they are the biggest cheerleader of their lives. They think positive and seek solutions to their problems.
A growth mindset also lessens the risk of truly rich people of being complacent. They are not satisfied at their situation even if it seems they are already on the top of their game. They are always in the process of self-improvement.
Carol Dweck and her Growth Mindset research
According to Carol Dweck, who did extensive research on the growth mindset, describes it as: “The growth mindset is based on the belief that your basic qualities are things you can cultivate through your efforts. Although people may differ in every which way- in their initial talents and aptitudes, interests, or temperaments- everyone can change and grow through application and experience. Do people with this mindset believe that anyone can be anything, that anyone with proper motivation or education can become Einstein or Beethoven? No, but they believe that a person’s true potential is unknown (and unknowable); that it’s impossible to foresee what can be accomplished with years of passion, toil, and training.
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I earn mindset
Truly rich people believe in having multiple streams of income. They have an earning mindset. They want to earn money so that they can turn it into passive income through investing.
Average people focus on saving. While truly rich people believe savings are important, they know their savings cannot create wealth for them unless it is invested.
As such, they focus on earning as much as they can so that they can build up some savings while investing most of their earnings.
Truly rich people know there are many ways to earn money. They can do freelance work, build online businesses as well as invest in the stock market.
Truly rich people are financially literate and know how to read financial statements so they can invest in fundamentally sound companies.
They also know how to read charts that allow them to time their entries in stocks so their stock positions can be more profitable.
Truly rich people also know how businesses work and how to manage people so that they can combine these resources and get them to produce value and thus earning a profit for taking that risk and organizing these factors of production.
I take calculated risks mindset
Truly rich people know that taking risks is necessary to creating real wealth. Staying safe in a boring job that pays well but does not allow you to grow is a waste of time and life.
However, taking reckless risks is not the style of truly rich people. They take calculated risks. They only take the jump if they know they have a bigger chance of succeeding than failing.
Here are ten ideas to build you risk-taking mentality:
- Call up a stranger using the phone book
- State your unfiltered opinion on something whether online or to a friend.
- Give an impromptu public speech
- Show your art in public. You can also post them online so that other people can comment and give feedback.
- Practice your negotiation skills in real situations
- Talk to a stranger
- Tell someone that you appreciate them
- Give away something that is highly valuable to you
- Admit your weaknesses to a friend
- Do something that feels too big for you, some audacious goal.
I focus mindset
Truly rich people have the ability to focus. They can minimize distractions so that they can maximize their productivity.
In this tech-heavy and social media heavy world, we can get easily distracted, but truly rich people can overcome these distractions by taking a break from technology and practicing meditation to boost their attention.
Here are some great ideas to boost your attention and focus
- Instead of caffeine to boost your attention, get regular exercise instead
- Drink plenty of water. Dehydration is the great enemy of focus.
- Get solid sleep. Sleep recharges the mind and body which replenishes your focus fuel.
- Take time to unwind and be away from the screen
- Commit to one single system of planning and collecting ideas instead of having so many apps and systems to organize your life
- Stop multitasking. Focus on one task. Immerse yourself in it until the task is completed.
I choose my friends and company mindset
One area that truly rich people focuses on is the company they spend time with. They choose their friends carefully and those that they hang out with.
They avoid spending time with energy vampires, for example, highly negative friends.
Choosing the people you hang out is important because they can influence your thinking and actions.
If you spend time with rich and successful people, you will seek to be like them and learn their patterns of thinking and action.
While you cannot delete your family, you can delete friends and acquaintances that are not good for your personal growth. Negative people are highly toxic for your growth because they hinder you from taking action and being solution oriented.
They focus on spending time with people that inspire them to greatness and mega living.
I believe in abundance mindset
Truly rich people believe in abundance. They don’t believe the pie is limited. They know there is enough for everyone.
As such, truly rich people are generous because they know when they are helpful and generous, they don’t lose. It returns to them in a much bigger way.
Because of the abundance mindset, truly rich people don’t get jealous. They are happy for the success of their friends and family. They cheer them on.
Average people tend to be selfish because they believe the pie is limited.
As such, they only have a limited experience of what life can truly offer them if they were generous and had an abundance mindset.
A wise sage once said, “Give more of what you want.” Be a river. Be appreciative. By giving, you put yourself in an abundance mindset.
I take charge mindset
Truly rich people take charge with their lives. They don’t play the victim card. They acknowledge that the situation they are in is the result of their decision.
If they want to change the situation, they can by changing their mindset and taking action.
By taking responsibility for the state they are in, truly rich people are able to navigate themselves out of negative situations instead of stagnating and complaining of their poor luck.
Truly rich people believe in destiny, but not through luck, but by creating their own path to success.
Start today and adopt these mindsets to become one of the truly rich people!
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