It’s not a secret I have always been interested in wealth. Since I was a little kid and watched my mother worry about money I have been interested in learning what the wealthy knew that we didn’t know. I have spent a lifetime studying the differences and been lucky enough to adopt some of the principles that separate the wealthy from almost everyone else.
In one month twenty-six million people in the USA lost their jobs and even more had their pay reduced…the stock market lost trillions in valuation, people worldwide are concerned about their finances and their health…and thirty two million businesses in America had their revenues either stopped or interrupted.
While money won’t buy you happiness, it’s the only thing that pays the rent, health care, toilet paper, mask, food and the like. Unfortunately during this time, like any other crisis, the wealthy will get wealthier and everyone else will end up with less. It’s sad but it’s true. And this redistribution has been happening since the Great Depression (or before) and it makes me question again, how the wealthy treat money differently than others.
Here are my ten observations of how the wealthy view and treat money differently than others.
The Wealthy Everyone Else
1. Money is Good 1. Money is Bad
2. Investors 2. Spenders
3. Uses Debt 3. Used by Debt
4. Money & Happiness 4. Money or Happiness
5. Tax Savvy 5. Tax Victims
6. Seeking Freedom 6. Seeking Comfort
7. Buys Time 7. Sells Time
8. Multiple Flows 8. Single Flow of Income
9. Wealth Driven 9. Income Driven
10. Opportunity Focused 10. Obstacle Focused
I am sure there is more you can add to this list. Add your favorite difference in comments and if you have a question I will do my best to answer. I wrote a book called The Millionaire Booklet that covers these difference in detail and you can get it free.
I trust you will get through this time and are in a better position on the other side.
One more big difference between the wealthy and the non-wealthy is the ability to execute.