Limitless Living Blog #45 - The Rich get Richer

The Rich get Richer

I used to think all rich people, generally, were evil and greedy. I didn't know how money operated and circulated. Once I started studying people who understood money, it debunked this myth. (Although there are a lot of people with money who are very greedy and evil.)

I once heard this saying: “If everyone on this earth started at 1,000,000 dollars, the rich would eventually end up with the majority of the money, and broke people would be broke again.” When you hear that, it almost sounds rude. But it's the truth. The more and more I study millionaires/billionaires, there's only fewer key differences I see. One key ingredient to wealth is that they buy assets, not liabilities. (Assets make you money, liabilities cost money.) So if someone has 10 assets making them money, they have 10 streams of income. Another ingredient is, they trade money for time, not time for money. Their time is valuable, they understand that. Broke people trade time for money. (I currently do too, but I'm trying to break out of this habit.) These are just two key ingredients that the wealthy view differently, and you can too. My name is Scotty and welcome to the 45th blog post here on the Limitless Living Blog. Thanks for tuning in.

It is true, the rich get richer. I can't fully describe it, but their mentality towards money allows for this to happen. Once again, there are greedy and evil people out there worth billions. I'm not speaking on them, they're going to have to give an account for that. But, the wealthy think differently about money. They view time as a more valuable commodity than money. To think like this, you have to become brainwashed. I hate using that word because it’s viewed as a negative word, but it can be used as a positive as well. In the negative term, you were brainwashed as a kid to view money as more important than time. You were also brainwashed to think a million dollars is a lot of money. Well, I beg the question, who told you that? Was it someone who didn't have a million dollars? I'm just saying, we can ask ourselves, “Where are we getting our information?” Someone worth 500 million, views one million as chump change. To someone worth $50,000, they view a million as almost impossible to get, because it's so much money. The wealthy have just been brainwashed, and the poor and middle class have been brainwashed. It’s simply this, which mentality do you believe/want to believe? It’s that simple. 

So for those of you who don't care about setting your family up for financial success, or even to better yourself in this area, this isn't the blog post for you. To those who do care about this pillar in their life, this is for you. I wish I had someone when I was 18-19 years old, to tell me this information. (I got ideas from older people rather than my parents/grandparents.) But to be able to connect with someone around the same age as you, that I would've paid for.