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How Rich People Think Summary

Updated: Sep 10, 2023



I recently read this book called How Rich People Think. This is an amazing book and it will teach you how rich people think. It compares the thoughts, habits, and philosophies of the middle class to the rich when it comes to wealth. The differences are massive and we can learn a lot from the way rich people think. If you want to be rich, the strategy is simple: learn how rich people think, copy them, take action and get rich. Becoming a millionaire is actually a skill that anyone can learn. I totally enjoyed reading this book and recommend it to anyone that wants to become financially independent. In this video, I’ll share with you some of the key lessons that I learned from the book.


MIDDLE CLASS THINKS ABOUT MONEY IN LINEAR TERMS… THE RICH THINKS ABOUT MONEY IN NON-LINEAR TERMS


Rich people know big money requires thinking about it in non-linear terms. They are masters at generating money through ideas that solve problems. The bigger the problem they solve, the bigger the money they will get. They realize since there are always going to be problems to be solved and there is no limit to ideas, there is no limit to how much money they can earn.


MIDDLE CLASS BELIEVES MONEY IS COMPLICATED… THE RICH BELIEVES MONEY IS SIMPLE


The masses believe making money is mysterious. The Rich know money flows from ideas. They know the more value they create in the marketplace the wealthier they will become. There is no mystery to getting rich, it's just creating value, but so many limiting beliefs stop most people from even trying. Has it ever stopped you? Is it stopping you now?


MIDDLE CLASS BELIEVES MONEY IS EARNED THROUGH LABOR… THE RICH BELIEVES MONEY IS EARNED THROUGH THOUGHT


The average person believes the harder they work the more money they’ll make. Their linear thinking equates labor and effort with financial success. This is why most people aren’t rich. The rich know that creative thinking is the highest paid skill in the world. Independent, creative thinking is the most valuable asset anyone can acquire.


MIDDLE CLASS BELIEVES HARD WORK CREATES WEALTH… THE RICH BELIEVES LEVERAGE CREATES WEALTH


If hard work was the secret to financial success, every construction worker and cocktail waitress would be rich. The wealthy strategically focus their efforts on the most profitable areas of their business while leveraging their contacts, credibility, and resources to maximize the results of every action they take. People with leverage dominate people with less leverage. Just as humans gained advantages over animals by creating leveraged tools, similarly, humans who use these tools of leverage have more power over humans that do not. Robert Kiyosaki puts it simply: ‘leverage is power’.



MIDDLE CLASS BELIEVES THE ROAD TO RICHES IS PAVED WITH FORMAL EDUCATION… THE RICH BELIEVES THE ROAD TO RICHES IS PAVED WITH SPECIFIC KNOWLEDGE


While the rich respect the power of formal education, they usually don’t associate it with building a financial empire. Many world-class performers have little formal education and have gained their wealth through specific knowledge. Formal education teaches people how to think and perform in the linear world of commerce, but the rich rarely become wealthy trading time for money. The great ones operate from a non-linear mindset that keeps them in the consciousness of creative thought. Jim Rohn says, “Formal education will make you a living. Self-education will make you a fortune.”



MIDDLE CLASS BELIEVES BEING RICH IS A PRIVILEGE… THE RICH BELIEVES BEING RICH IS A RIGHT


The average person believes being rich is a privilege awarded only to lucky people. The rich know in a capitalist country they have the right to be rich if they’re willing to create massive value for others. Rich People believe if they make life better or easier for others, it’s their right to be rich. The Rich ones believe they have the right to be as rich as the value they create. So in place of watching football games, memorizing batting averages, and playing video games, they are laser-focused on new ideas that have the potential to build their wealth.



And there you have it. This is how rich people think and if you also want to be rich, you can start simply by internalizing their philosophies. Just remember this, getting rich is a skill and you can learn that, but if you want to be rich, first you should really want to be rich and believe that you can do it. Good luck getting rich.


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