Whilst some people are born into wealth such as the Rothschild and Grosvenor families, it can be said that self-made millionaires comprise the largest segment of wealthy British subjects. Just like any other country on earth, people are always wondering why it is that the wealthy get wealthier and the poor, well, they just keep getting poorer. In fact, there is such a large area separating the rich from the poor that a great many sociologists and market analysts spend entire lifetimes researching the reasons for this separation. One thing, however, that all wealthy people have in common is a mindset different from the average consumer.

20150825170638-wealthy-woman-business-jet

The Rich Are Always in Control

Even though a truly wealthy person will ask for expert advice when they are uncertain how to proceed in any given situation, they will never relinquish control of their finances to a second or third party. Yes, they will seek counsel and advice from experts in whatever field is in question, but they will make the ultimate decision on how to act. For example, a wealthy person looking to diversify his or her portfolio will likely discuss options with experts like Kenneth Fisher, American financial guru, who now operates Fisher Investments in UK markets. They will most likely act on investment strategies 99.99% of the time, but they will ultimately give the final go-ahead. This is what keeps them gaining wealth – the ability to take the helm without hesitation once they know their options.

Understanding the Difference between Saving and Investing

Whilst some people call this a ‘risk factor,’ the reality is that a wealthy person knows that savings just don’t grow fast enough to accumulate any significant amount of wealth. The wealthy mindset is not afraid to invest, sometimes huge sums, in order to watch their money grow. A middle income earner will often be reluctant to invest over saving because of fear. Call it a fear of risks, if you will, but a wealthy person isn’t afraid to venture everything because they know there is more money to be made out there. Look at all the wealthy people who lost everything only to bounce back up wealthier than they were to begin with.

The Ability to Set Long Term Goals

One thing you will find in common among wealthy people looking to get wealthier is their innate ability to work towards long term goals. Few individuals became wealthy with a ‘get rich quick’ scheme, unless of course they simply won the lottery. Most truly wealthy individuals have a patient mindset. They know that anything worth having is worth working for and wealth is one of those things. While there are critics who state that those with little money can ill afford to wait for a long term money-making goal, the sad reality is that unless they wait they will not realise much of a profit at all. If you are looking to build any kind of real wealth, be willing to sacrifice along the way. Short term goals are a necessary part of the plan, but they will not get you the wealth you are looking for.

The takeaway here is that in order to grow any amount of wealth you must put on the mindset of the wealthy. It’s all about training yourself to think like a success and you will find that you do become successful. If wealth is your ultimate goal, learn to power yourself with the mindset of the wealthy. This, in a nutshell, is why they get wealthier and the poor get poorer. In the words of James Allen, As a Man Thinketh so shall he be.

Related Posts Plugin for WordPress, Blogger...