Friday, September 10, 2010

How Rich People Think

There are numerous differences in the way that the rich think vs. how the middle class think according to Steve Siebold, author of the new book How Rich People Think. Some of those differences include:


* Middle class focuses on saving. World class focuses on earning.
* Middle class believes hard work creates wealth. World class believes leverage creates wealth.
* Middle class believes money is earned through labor. World class believes money is earned through thought.
* Middle class worries about running out of money. World class thinks about how to make more money.
* Middle class sees money through the eyes of emotion. World class sees money through the eyes of logic.
* Middle class believes getting rich is outside their control. World class knows getting rich is an inside job.
* Middle class has a lottery mentality. World class has an action mentality
* Middle class is waiting to be rescued from financial mediocrity. World class knows no one is coming to the rescue.
* Middle class equates money with stress. World class equates money with peace of mind.


It seems like those who are jealous of people with money always have an emotional reaction to the rich. They are bad people, they are "fat cats," they are "pigs." It is this emotional reaction that may keep them from ever earning more. Maybe if they quit emoting at the rich, they might think through more logically how to make a few bucks themselves.

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85 Comments:

Blogger TMink said...

To be fair, there are plenty of people who are fanning the embers of class war that help people be jealous of the more fortunate or harder working. Schools are full of kids resenting the other children who try to do well in school, so it starts early. I have even heard kids say they do not want to try hard in school because that is a white thing.

Sad.

Trey

10:30 AM, September 10, 2010  
Blogger Tether said...

This is a bit "in your face":

"It seems like those who are jealous of people with money always have an emotional reaction to the rich. They are bad people, they are "fat cats," they are "pigs." It is this emotional reaction that may keep them from ever earning more. Maybe if they quit emoting at the rich, they might think through more logically how to make a few bucks themselves."

-----

As far as I know, you aren't rich, Helen, and you'll likely never be unless your husband hits it big. So why are you trying to appear like you're speaking for them and coming on with the heavy attitude?

Strange.

And I've always wondered why any real examination of how people really make their money - any critical examination above being a worshipping toady - is always assumed to be based on jealousy.

10:59 AM, September 10, 2010  
Blogger TMink said...

The book IS a critical examination of how people make their money.

Trey

11:02 AM, September 10, 2010  
Blogger Helen said...

Tether: I'm speaking as one of those who isn't jealous of rich people. You don't have to be a rich person to avoid jealousy. I don't have a problem with people making money.

11:05 AM, September 10, 2010  
Blogger JG said...

I'm just not buying this.

"Rich people" are quite varied and diverse as to how they got the money.

Some are very smart and plan their way out step by step, some are dumb cows who just lucked into it (Ivanna Trump probably fits into the latter category).

Some have had great ideas, and some have appeared to be making money one way, but really made it in a not-so-grand way (the senior Kennedy in the 1920s probably fits into the latter category).

Some have contributed a great deal to society, some haven't.

I just wonder why so many people want to attribute nothing but good to "rich people" (and read the list, "rich people" have all the great qualities). It's not jealousy to want to see reality, it's a desire to see reality. But that Paris Hilton sure is a great actress.

11:19 AM, September 10, 2010  
Blogger JG said...

"I'm speaking as one of those who isn't jealous of rich people."

----

You seem to have the assumption that most everyone else is jealous of rich people ... and ... you also seem to think it's a really bad thing if they are.

There's a lot of tension about this topic for some reason.

11:22 AM, September 10, 2010  
Blogger Demonspawn said...

As far as I know, you aren't rich, Helen, and you'll likely never be unless your husband hits it big.

* Middle class believes getting rich is outside their control. World class knows getting rich is an inside job.
* Middle class has a lottery mentality. World class has an action mentality


Nuff said?

I'm not jealous of the rich. I once hoped to get there someday, but I'm going to run out of time before it will be possible (because the masses who are jealous of the rich are destroying the economy via the power of their votes).

12:09 PM, September 10, 2010  
Blogger rtg4 said...

I seem to remember from "The Millionaire Next Door" that the vast majority of "rich" people got that way by spending less than they earned (i.e. saving).

Perhaps to be "world class" is different than "rich". Perhaps "world class" people are concerned with chasing money for money's sake. "Rich" people save money for the freedom it gives them to do things other than chase money.

This guy's bio on Amazon makes me think he is a Tony Robbins / Robert Kiyosaki wannabe, spreading the joy of wealth through his motivational programs and books. Professional athlete & speaker rah rah rah.

1:34 PM, September 10, 2010  
Blogger Michael said...

You might consider reading "The Millionaire Next Door." I would suggest a couple of principles; one don't get divorced. It's never worth it for a man and it is rarely worth it for a woman. Two, buy a house you can afford and keep it. Three, always spend less than you earn, even if it's a little. Think about compound interest.

I can say this because, although I have earned a lot of money in my life, I violated most of those rules. Wish I hadn't.

1:35 PM, September 10, 2010  
Blogger LPF said...

"Think about compound interest."

Think about the rate of inflation being greater than the interest rate.

Wealthy people put their money to work.

1:43 PM, September 10, 2010  
Blogger Lobo said...

@Michael ... Actually, for men, it's better not to get married in the first place ... or least not without a solid prenupt. For men, marriage is a crapshoot ... a risky and uncertain venture.

BTW, Tennessee doesn't have common-law marriage ... so a man can live with a woman without having to put himself at risk.

@LPF ... Actually, I think he is referring to the concept of TVM ... the Time Value of Money. Money invested properly will compound and begin to work for itself.

I'll give everyone a piece of advice that a rich man gave me years ago. Put at least 10% of your income into an investment and by the time your retire, you'll be a millionaire. He was right, by the time I reach 60, my 401k should be in the neighborhood of $1 million.

2:30 PM, September 10, 2010  
Blogger ddelruss said...

I think this is more about outlook than results. Many people with a lot of money have middle class attitudes, and those attitudes are not necessarily bad (just conventional, really). Rich can also be an attitude - see Tim Ferriss' definition of "New Rich" as having flexibility and controlling their own destiny.

Focus on the outlook, not the result. Luck is always involved even for those that are exceptionally driven or brilliant (or lazy or dumb). This is one reason that effort (not result) is currency at Gym Jones - different measurement (fitness, not finance) but very similar outlook as that highlighted by Siebold.

2:42 PM, September 10, 2010  
Blogger Hodge said...

George Gilder (all around smart guy -- latest book was The Israel Test last year) would say the middle class focuses on fixing problems, the world class focuses on pursuing opportunities.

Sure, there are many rich people who cheated or lucked their way into it and they're easy to dislike. But my experience is that most are not that way -- they've worked hard and made smart decisions. Another paraphrase may be appropriate here -- Ayn Rand said that the the good will always be despised because they are good (something to that effect). In this context, the rich will be despised because they are rich. And, per Demonspawn, those trying to get rich will be further hampered by the votes of the jealous and consequent policy obstacles.

Bummer that.

2:45 PM, September 10, 2010  
Blogger Richard Fagin said...

Even to the extent all the items listed that purport to separate the rich from the midddle class seem to be elements of class envy, some of them are clearly true and represetn not class envy but differences in ability to create wealth:

1. Middle class focuses on saving. World class focuses on earning.
2. Middle class believes money is earned through labor. World class believes money is earned through thought.
3. Middle class worries about running out of money. World class thinks about how to make more money.
4. Middle class sees money through the eyes of emotion. World class sees money through the eyes of logic.

Wealth is created by innovation, that is, creation of new ideas that meet human wants or needs. The above four items fit the criteria of wealth creation well. Please note that I am using the phrase "wealth creation" rather "obtaining wealth." The latter excludes those who become wealthy by pure luck or personal contacts rather than true talent. The difficulty with class envy is that it is difficult, if not impossible other than in the obvious cases, to fairly separate the wealth creators from the wealth obtainers.

The remaining items on the list are what separate the POOR from everyone else, e.g., lottery mentality, wealth is beyind personal control, waiting to be rescued from mediocrity. That is, THOSE items represent class envy rather than mental capacity, talent and perseverence insufficient to create real wealth.

Blah.....I've wasted ten minutes of wealth creation time reading and commenting about class envy.

2:45 PM, September 10, 2010  
Blogger Professor Hale said...

Seems like a lot of self-serving half-truths.

As has been pointed out, there are a lot of ways to get rich. Not everyone does it the same way and not everyone in a "class" is the same. The list shown assumes all rich (World class) are alike and all middle class are alike. This is easily not true.

* Middle class believes getting rich is outside their control. World class knows getting rich is an inside job.

So they agree. Why then the attempt to make them look different?

* Middle class has a lottery mentality. World class has an action mentality

I don't know how the author is measuring mentality, but it seems like the poor class is the lottery mentality. You cannot have a lottery mentality and also believe that hard work creates wealth.

* Middle class sees money through the eyes of emotion. World class sees money through the eyes of logic.

More self-serving definitions. Emotion = bad, Logic = good. The middle class have quite a bit invested in IRAs and 401(K) and pension plans and small businesses indicating their logic.

It is further easily shown that both types of people can live in the same house but be in the same wealth "class". Typical in houses where the husband earns and the wife spends.

2:51 PM, September 10, 2010  
Blogger Jum said...

Since when is "class envy" a middle-class attitude? I'm not so sure I'm on board with this.

Maybe it's because I'm so hopelessly middle-class (which apparently is now a pejorative: and here I had always thought being an honorable man who was unfailingly responsible and reliable was a point of great pride), but it seemed to me that, even though the comparisons were supposed to be no-brainer "Well, duh!" examples, I wasn't all that bowled over. Are we really supposed to smirk at the concept of "earning" as being for suckers? And we're supposed to nod knowingly at the cleverness of being "leveraged"? God help us.

If so, there's another comparison that was left out: "Middle-class worries constantly about astronomical budget deficits and national debt levels, concerned that its children and grandchildren can't possibly live as prosperously as their forbears have. World-class smiles knowingly, safe in the knowledge that they'll be long gone before the ordure strikes the oscillator."

3:20 PM, September 10, 2010  
Blogger Allison said...

I would think that the last 2 years have shown that when the middle class tries to use leverage to make themselves rich the way the rich do, the end up far worse off than before.

You know what the difference is? The rich have more money AND more influence. So when the leverage and lose it, they aren't unable to pay the mortgage, AND they are able to convince those who write the laws to fix it so their bad loans become someone else's problem instead of their own.

Now, this might sound like class warfare, but I think it's accurate, and I don't think anyone should get pitchforks or torches in front of their home for behaving this way--rent seeking makes sense. What should we going to do about it? Precious little. Most of us won't be rich, and we should spend more time not worrying about it, and just make sure we spend less than we earn.

3:22 PM, September 10, 2010  
Blogger spunky said...

I think it's fascinating to read all the cranky responses. I'm pretty sure the book's author was just trying to be helpful, but given the way some people have reacted here, I'd say it wasn't appreciated.

Reminds me of Dana Carvey's Grumpy Old Man character. In my day, we never invested money, we hid it coffee cans! In a hole in the ground! And that's the way it was, and we liked it!

3:31 PM, September 10, 2010  
Blogger Dr.K said...

@Professor Hale:

I think you miss the point re:inside/outside of control.

Outside of control = "The game is stacked against me"

Inside job = "I can overcome the obstacles"

3:33 PM, September 10, 2010  
Blogger Dr.K said...

I once read a very telling comment' I forget who originally said it.

"Poor people plan for Saturday night. Rich people plan for generaations."

3:34 PM, September 10, 2010  
Blogger pduggie said...

Alison:

You stated my response entirely. Telling a middle class person they need to think about using "leverage" more is not the way for the MC person.

3:36 PM, September 10, 2010  
Blogger CG said...

* Middle class believes hard work creates wealth. World class believes leverage creates wealth.

Ummm...housing bubble...pop?

* Middle class believes money is earned through labor. World class believes money is earned through thought.

Sorry, the richest people I know (80 mil - 100 mil) rolled up their sleeves and worked really damn hard to build their businesses. And they were never afraid to answer phones and do the "menial" stuff either.

* Middle class sees money through the eyes of emotion. World class sees money through the eyes of logic.

Money is easy to be logical about once you have it.

Some of the other points are okay -- rich people do have action mentalities, they don't wait to be rescued...but this seems like a list to sell books more than realistic ways of looking at money.

3:37 PM, September 10, 2010  
Blogger Frank said...

This is ridiculously over-simplified.

Persistence is important. Hard work is important. Flexibility is essential. Luck, being in the right place, is the most important of all.

Intelligence is sometimes useful, but often detrimental. New ideas are very rarely very remunerative and vastly oversold as a means to wealth.

You don't get rich just by changing your attitude. Please. There is no such thing as a saving stimulus for individuals, or for economies.

4:33 PM, September 10, 2010  
Blogger JG said...

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5:06 PM, September 10, 2010  
Blogger JG said...

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5:08 PM, September 10, 2010  
Blogger Ken said...

"As far as I know, you aren't rich, Helen" - Tether

I'm pretty sure a couple consisting of a law professor and a psychology professor counts as rich.

5:10 PM, September 10, 2010  
Blogger JG said...

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5:11 PM, September 10, 2010  
Blogger JG said...

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5:16 PM, September 10, 2010  
Blogger JG said...

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5:18 PM, September 10, 2010  
Blogger JG said...

"I'm pretty sure a couple consisting of a law professor and a psychology professor counts as rich."

----

No, frankly that's middle class.

And I didn't know that Helen is a psychology professor. I got the impression that she independently works at various jobs, among others as a "forensic psychologist" (who mostly testifies in court, I assume).

Those are really middle class jobs. My experience is that rich people own a funeral home or have a sewer cleaning business or embezzled lots of money from the government and never got caught.

Those were the rich people I saw.

5:19 PM, September 10, 2010  
Blogger TMink said...

"What she - and maybe others here - have to consider is that your value to the world does not solely lie in how much money you have."

Well said and amen.

Trey

5:25 PM, September 10, 2010  
Blogger DADvocate said...

It seems like those who are jealous of people with money always have an emotional reaction to the rich. They are bad people, they are "fat cats," they are "pigs." It is this emotional reaction that may keep them from ever earning more. Maybe if they quit emoting at the rich, they might think through more logically how to make a few bucks themselves.

I'm not sure if my parents were jealous of rich people but they sure had a negative emotional reaction to the rich. One of their primary reasons for opposing a politician was if he was rich (and not a Democrat).

Ken - my father was a psychology professor and had a pretty good side practice. We were probably upper middle class but definitely not rich.

5:28 PM, September 10, 2010  
Blogger JG said...

And nothing against Helen - I think she's really doing a good job against some of the unfair misandry in the world - but she may view this differently in 20 years.

I really mean that.

When she sees that the bus has already passed by - and she is going to be what she is (and she's not that old yet) - she will think differently about the real worth of people.

5:29 PM, September 10, 2010  
Blogger kmg said...

er... as an Internet property, Instapundit.com is easily worth at least $25M.

So yes, they are rich, even if not liquid.

Plus, I am sure he could get $10,000 a pop on the lecture circuit if he pursued that path.

And Glenn got rich smartly, by starting a one-man-show blog while in a tenured faculty position. I would call that a pretty smart path to wealth.

Most of the comments here prove the point of the article. Why didn't any of you start a blog like Instapundit??

About me, I used to make $250K a year as a mid-level exec. in Silicon Valley. But for 11 years, I dabbled in options and futures without making much headway. That was until 2009. Since then, I finally perfected my strategy, and now make about $3M a year without doing much work. Anyone can do this, if they figure it out. The barrier to entry is zero other than mathematical/quant finance expertise.

5:43 PM, September 10, 2010  
Blogger Random Musings said...

I have several friends who are very successful, and one thing I've learned in observing them is they think different than me and most people. They see opportunities other people miss, they take risks, and are quick to make decisions.

In fact, one good friend is in the healthcare business, and last summer I asked him if he worried about Obamacare, and his response was there are opportunities within that law they could take advantage of. Optimism is another trait of rich people, along with a very high level of self confidence.

5:45 PM, September 10, 2010  
Blogger JG said...

"I have several friends who are very successful, and one thing I've learned in observing them is they think different than me and most people. They see opportunities other people miss, they take risks, and are quick to make decisions."

----

Then surely, learning these lessons, you will also get rich.

I almost can't hear this any more.

The people who write books about how the "rich" think do it because they themselves may get kinda rich - or not.

"The rich ARE different than us - they have more money" ... is the famous quote.

Lots of not-rich people trying to be important. Why not just relax and impart your valuable wisdom AFTER you reach the 10-million line? Or are you that impatient to spread your knowledge before you get there?

5:52 PM, September 10, 2010  
Blogger JG said...

I feel the same way as on the "alpha male" threads with a bunch of skinny teenagers with braces who want to nervously declare that they are the baddest asses in the world. And Chuck, who was in the military.

Holy crap.

I'm an average person, I'm just laughing at all the other average people here who are trying to be important. Yeah, in a 1000 years, your name will ring out.

5:55 PM, September 10, 2010  
Blogger kmg said...

Let's add a marriage/misandry component to this.

A world-class thinking man marrying a middle-class thinking woman (i.e. 99.9% of women) is a man who has introduced a catastrophic problem into his life.

Especially considering the anti-male, heavily socialist divorce laws (which conservatives had a hand in creating, despite claiming to be opposed to socialism).

A world-class-thinking man should not marry.

5:57 PM, September 10, 2010  
Blogger Prime Designer said...

About me, I used to make $250K...The barrier to entry is zero other than mathematical/quant finance expertise.

Oh, and having hundreds of thousands of dollars to experiment with? Over a decade? Or is that not important?

6:15 PM, September 10, 2010  
Blogger JG said...

Here's how this "the rich can do no wrong" attitude can really cause some damage:

There are billions and billions simply missing from the US government budget every year. One year, 600 million was missing from the Department of Education (Bill O'Reilly even did a show on it). This was not money that was misappropriated or wasted or shelled out for stupid PC studies (plenty there as well), it was money THAT SIMPLY COULD NOT BE ACCOUNTED FOR. Someone has it.

And now he is a rich dude, along with a lot of other rich dudes I have seen. They should be examined.

They should be examined.

If you ask where the Kennedy's really got their money, you will not be met with an enthusiastic investigation team. You just don't ask that, and no one cares if it was due to illegal actions, because rich is rich.

Even given that, the proponents of "the rich" here will never be rich. I can almost guarantee it. You get your good ideas when you are young and either you do it or you don't. And you all here don't.

Not that I'm a hypocrite, I'm not the one promoting the idea that the "rich" are infallable, great people. Kind of a moronic attitude, actually.

6:37 PM, September 10, 2010  
Blogger kmg said...

Oh, and having hundreds of thousands of dollars to experiment with? Over a decade? Or is that not important?

Not really. It is quite a low barrier, as starting almost any business takes that much (even a Subway franchise, for example). I did, however, happen to be smart enough to not buy a house, thus storing up my liquid cash.

Of course, both sidestepping the housing bubble and figuring out options and futures are both part of a solid financial education, which most people, even if well-educated in other fields, simply do not have.

6:43 PM, September 10, 2010  
Blogger Tether said...

Helen,

I suspect that Justin Bieber - at age 16 or whatever he is - has more money than you will ever have, no matter how much you leach from your husband.

Now THAT'S sad when you have such a hostile attitude about "the rich". You ain't one and you are never gonna be one.

6:44 PM, September 10, 2010  
Blogger kmg said...

has more money than you will ever have, no matter how much you leach from your husband.

Come on, Helen is one of the few women who is NOT a moocher off of men.

And I say this as someone who believes that 90% of women truly feel entitled to subjugate men as their slaves, enforced by the state.

Recognize Helen as an exception.

6:49 PM, September 10, 2010  
Blogger kmg said...

A very similar list can be made regarding pickup artists vs. average frustrated men.

They get more action with hotter women, than men far richer/better looking than they; for similar reasons of outside-the-box thinking.

7:09 PM, September 10, 2010  
Blogger RuyDiaz said...

I haven't read this book, but I've read The Millionaire Next Door. The conclusions reached there are exactly the opposite. People who accumulate wealth--who become rich--are savers as well as producers.

9:17 PM, September 10, 2010  
Blogger Robert said...

A lot of the comments remind me of the story of the virgins discussing sex. Maybe they read a book about it, but they really have no idea.

Trust me,I used to be poor, now I'm not. It's all in your head. Yes, you do actually do stuff, but the stuff to do becomes obvious once you change your mind.

You simply cannot see what you do not believe in.

10:16 PM, September 10, 2010  
Blogger Allison said...

I think the 40 mil mark is a reasonable one. Anything less isn't wealthy. It might be well off, but it isn't wealthy.

And I agree that we underestimate the value of luck in our lives.

But most of us just will never ever be tens-millionaires. Some of us are barely thousandaires. And it's not because of the retirement account balance, which might be a million or more. It's because of our mentality. Few of us really have the mentality to be wealthy. We are comfortable where we are, and we aren't insatiably looking for more, aren't willing to risk what we have now for what we could have tomorrow, aren't willing to do what it takes.

I'm okay with that. I don't have the ambition for it. My husband might, and we're on our nth startup in an attempt, but it's now or never for us, and he knows that too. And I understand how much things would change if it did....

1:23 AM, September 11, 2010  
Blogger MB said...

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4:56 AM, September 11, 2010  
Blogger MB said...

The feeling I get from Helen, especially from the few sentences she wrote at the end of the original post here, is that everyone solely wants to get "rich", that is the only thing there is in life, so they must be jealous of the "rich". And then she states in a hostile and self-serving way that she herself is not jealous, kind of as an "I'm superior for that reason - among many others" kind of thing.

Not everyone cares about getting "rich" in the way that Helen presupposes. Not everyone worships someone with money in the way that Helen presupposes. The problem is that foundation she assumes in an axiomatic way doesn't hold for everyone.

4:56 AM, September 11, 2010  
Blogger Wilhelm Tell said...

Most books on wealth and money are about "how." If you want to stretch yourself and think about some of the other "w" words - particularly "why" - I can think of no better place to start than The Seven Laws of Money.

6:48 AM, September 11, 2010  
Blogger TMink said...

I need to clarify a point, while I agree with JGs position about wealth not being the only or even the most important reason to value people, I am not on board with thinking that Dr. Helen only values money or people because of their wealth. I have not seen anything to make me think that.

Trey

12:30 PM, September 11, 2010  
Blogger TMink said...

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12:30 PM, September 11, 2010  
Blogger JG said...

This comment has been removed by the author.

2:17 PM, September 11, 2010  
Blogger JG said...

Here's the deal (from having watched a whole lot of people above 10M in my former job - years ago):

It's all about a niche. That doesn't necessarily mean something you yourself figured out, in fact less so.

Examples:

Bill Gates is the quintessential rich guy. He has been overtaken by "Carlos Slim" (Google that name, I had never heard of it), but here's the deal with him:

A number of software billionaires are in a very narrow age range. Why is that? Because they had access to computers and to programming before computers started exploding. They were then poised for the growth. Bill Gates is exactly in that window. His father was a millionaire lawyer, and he had access to programming at a very early age.

When you see your path before you, it's not called work.

And then there are other niches: Ivanna Trump found the niche of using a rich guy as her path to wealth. That is the most common path. Mostly it is women, but Guy Richie found that path as well.

Then there's the niche of "inherited wealth or name". We all know Paris Hilton, and although she is not yet "rich", she has a couple of million based on her name. And she may well become "rich" when her father dies.

Donald Trump? His father was already a millionaire who had speculated in real estate. What Donald Trump has is a training that no one else got: How you make money in New York real estate. Daddy showed him how. He still had a bankruptcy and a payout to a whore (Ivanna), but it was his training.

The rest? Lots of inheritance, lots of scheming women, lots of family businesses that get passed to the son and once in a while a good idea (it doesn't always get rewarded right away, look up the guy who invented the intermittent windshield wiper - the auto companies stole his idea).

Unfortunately, there are many, many cases in which the productive person got jack shit. His relatives (mostly pushy women, look up the cases I'm about to cite) get rich.

Philip Dick and many, many painters fall into that category. I'm just too lazy to list a whole lot, but there is an incredible number of people who fall into that category - also the guy who starts a business late in life, it blooms just as he dies, and the kids get the reward.

In summary: Always some niche or path in life.

But.I.Don't.Worship.Them.

2:20 PM, September 11, 2010  
Blogger JG said...

This comment has been removed by the author.

2:24 PM, September 11, 2010  
Blogger JG said...

Update:

The niche of using someone else to get rich:

John Kerry married not one but two ("two") billionaire women who had gotten their money from rich husbands. Theresa Heinz (recognize that name - hint: she doesn't make ketchup herself) is his second billionaire wife.

What a friggin' coincidence. And at the risk of sounding "jealous", I am wondering why that dipshit happened to marry TWO billionaire's wives.

2:29 PM, September 11, 2010  
Blogger TMink said...

Hmmm, you disagree with JG and he insults you.

Didn't see that coming.

No. Wait. That is what you do JG. Every single time with every single comment.

They lose their sting when you throw insults around like confetti.

But go ahead. I guess you can't help yourself.

Trey

9:48 AM, September 12, 2010  
Blogger br549 said...

I thought JG was just pissed at misandry. Hell, he's pissed about everything. So I guess he has no woman, and has no money either.

Even Einstein marveled at the magic of compound interest.

Rich people do think different than those who are not. Whether it is the millionaire next door, Trump, or Gates.

Middle class people who work to better themselves also think differently from those who are on the dole, who expect the rest of us to give them on a level that pars them with those who use their hands, or their minds.

Of course, when the rent goes up, some just find another father. It only takes a few minutes of his time.

I enjoyed kmg's comment where he basically stated that, yeah, I eventually found one of the secrets. But why should I tell you? Humor!

11:28 AM, September 12, 2010  
Blogger br549 said...

In America, go get your own. The opportunity is as equal, or better, than anywhere else on the planet. The outcome is not. Because gray matter is not. Gray matter can't be legislated, or made into law. It sure can be manipulated.

11:34 AM, September 12, 2010  
Blogger JG said...

"I thought JG was just pissed at misandry. Hell, he's pissed about everything. So I guess he has no woman, and has no money either."

---------

You forgot that I probably live in my parent's basement and I have a small penis.

Except for those two forgotten items, it was like a visit to one of the radical feminist sites.

But you guessed it (DAMN YOU!): I am posting this from the library.

1:14 PM, September 12, 2010  
Blogger JG said...

"Gray matter can't be legislated, or made into law. It sure can be manipulated."

_______

Here's something to think about: People like this (who have previously stated how they got drilled by family law etc. and who are not rich by any stretch) are constantly saying how anyone can make it in America. People with some money - like George Soros, but he's by far not the only one - are kind of socialistic, maybe with some kind of shame feelings for how they earned the money. And look at most everyone in Hollywood - they DID get lucky, I think, and then the general public is so stupid they only want to see the same actors and actresses, even the wooden Julia Roberts. Great actresses like Julianne Moore are still playing bit roles.

1:21 PM, September 12, 2010  
Blogger JG said...

There comes a point in your life - maybe when you are 60 or 65 - when you think the train has unambiguously left the station. You realize that your station in life is your station. Period.

I know that the specific age sometimes comes a little later - John Delorean was in his early 60s I think when he started the Delorean Motor Company in the 1980s (one of his cars was prominent in the Back to the Future movies). After his arrest, though, no one ever heard from him again. I think he reached his point.

In any case, you may realize that despite all your efforts, you did not get rich. Are you worthless? I'm trying to say: No you aren't. You may have made a bigger contribution to society than "rich people" like Heather Mills, Ivanna Trump or other losers.

No one here wants to see that. You can be a drug dealer or child pornographer - as long as you don't get caught - and apparently everyone here will worship you if you have a billion dollars.

Am I in the right film?

1:40 PM, September 12, 2010  
Blogger br549 said...

JG, you're in the right place! Now get off the computer, and into the books. Less than 3% of the populace have library cards. This gives you a distinct advantage.
One of those mean, evil, rich bastards provided lots of money to build libraries around this great nation. Andrew Carnegie. He spent over half his life accumulating money. Then he gave it all away.

1:48 PM, September 12, 2010  
Blogger Der Hahn said...

Who wrote this book, Professor Harold Hill?

2:53 PM, September 12, 2010  
Blogger JG said...

"Who wrote this book, Professor Harold Hill?"

________

I think it was the guy who tried to sell the monorail to the city of Springfield on the Simpsons.

3:15 PM, September 12, 2010  
Blogger Doom said...

I tend to think "the rich" (successful people) do not limit this mantra to finances. This way of thinking inhabits even their hearts, for good or ill. It looks as if they avoid the sentimental for the purely pragmatic. Of course, that is not a bad thing within limits. As well, there are variations, probably without too much regard for actual success levels, to adherence to these principles.

In other words, these people have more in common with the scientific method, through living a form of it, then most scientists do. And yet, at least in America, the philosophy does not seem devoid of religion. I base that on giving, which Americans do far more than any other nation, even on a population versus wealth comparison. Further, they risk their wealth, or used to, far more than others of the worlds wealthy, literally spreading it around and creating more opportunities.

I, personally, like our wealthy. If, like them, I believe we need to end the government as we know it. They aren't the problem, not here in the US anyway.

9:34 PM, September 12, 2010  
Blogger JG said...

I'm not objecting to the "rich", I'm objecting to the bizarre worshiping of the rich in the original article and in some of the comments here. The original article lumps all of the "rich" into one generalized group ("World Class") that is purported to have all the good qualities vis-a-vis the group of fuck-ups.

That just isn't reality.

And if some of you think that someone like Heather Mills is far better than someone like Albert Einstein - just because she has a lot more money - you've got a screw loose. That is a bizarre form of worship that I can't start to comprehend.

12:17 AM, September 13, 2010  
Blogger Robert said...

In the same vien as the book this blog entry is about, this looks interesting:
The Secret Language of Money is a guided tour to the subconscious meanings we give money, the conflicted ways our brain deals with money, the reasons we tend to make the same money mistakes over and over—and most importantly, how you can change all that.
http://www.amazon.com/gp/product/0071623396

12:43 AM, September 13, 2010  
Blogger Doom said...

JG,

Hmm, fair enough, to a degree. I only note that the rich in the U.S., despite their warts, are rather decent of their class. As for being "better"? They are better... at making and maintaining wealth. I go no further.

I certainly do not worship them. No man is above me, not Rockefeller, not President Bush or the coffee boy currently holding that office, not Einstein, not any man. I worship God and fear for the rest (self included), mostly those and the ilk of those I just mentioned.

Of course, something to be mentioned about wealth is that, like an animal, it has a will of it's own. It flows, like a wind, and cannot truly be captured. And yet, like any resource, it tries to find those who will tend it best, grow it, and know when to let it loose to do it's own bidding. I think many, rich and poor, misunderstand the nature of the thing. Economics, mathematics, and science will always fail at this, as much because the men who study it are like crack addicts looking on the floor for every last piece of it in spite of nothing having dropped as because the nature of the control of wealth is ephemeral.

5:11 AM, September 13, 2010  
Blogger Topher said...

JG is playing a classic strawman argument - claiming that Helen et al are idolizing the rich when we're only discussing the issue, not making moral judgments.

12:59 PM, September 13, 2010  
Blogger TMink said...

Get ready Topher!

Trey

1:10 PM, September 13, 2010  
Blogger Topher said...

"A very similar list can be made regarding pickup artists vs. average frustrated men.

They get more action with hotter women, than men far richer/better looking than they; for similar reasons of outside-the-box thinking."

Yes, and the in-box AFCs condemn the PUA's heresy with all sorts of minimizations and dismissals like you just got lucky, you only go after skanks, it's only a beta loser who has to to learn how to be attractive, sour grapes, what about chivalry, my mother taught me not to act like that, etc.

Just like has happened on this thread. Predictable.

The real shame is that most Americans don't seem to understand where money comes from, right down to why they get paid on the job (i.e. you have to add more than the value of your salary and benefits to the bottom line, so the company can afford to pay you for your work). So a lot of them have no choice but to believe the "lucky break" theory.

It's not just about the laissez faire standby of "working harder" (although people who create wealth tend to be on the lookout for opportunity 24/7), it's about a mindset that:
-seeks unconventional opportunities
-understands how to put the right people in front of each other (big money and power always goes to those who work with people and those who tap new markets, i.e. unfulfilled customers)
-is remarkably risk tolerant with both finance and ego (this part rules out most keep up with the Joneses lifestyles)
-knows when to get out of the game and move on to a new venture (either for success or failure) -never feels like it's "got it made" (no laurels, always looking for the next step)

1:13 PM, September 13, 2010  
Blogger Topher said...

Trey,

I've already made my psychoanalysis appointment to deal with the fallout.

1:13 PM, September 13, 2010  
Blogger dr.alistair said...

just watch the movie "fargo" to see the point.

anyway, my ex saw that i earned $125 per hour and immediately put me on the same 50 hour workweek she was on, and when i consistantly didn`t earn $6000 a week, she flipped out.

she just wanted more to take.

helen made distinctions between the behaviours and philosophies of the rich and middle class, and some got emotional immediately.

hot button?

billy connolly, the scottish comedian, said that in many ways the rich and the poor thought alike culturally, it was only the pretentious middle class that was always looking at the price tag.

i do 8-10 client session a week and the rest of the time i paint, play guitar, tend the house, walk the dogs, hang out with my children, play soccer, blog (occasionally now) and so on.

I live in an amongst multi-million dollar homes that sit empty, resting there as mute testament to 80 hour work-weeks where people don`t know their families and spouses.

many of my clients own such homes and ask me how they can do more...

i hope that, eventually, they will see that they can do less and feel good about it, before it`s too late.

and the really rich people i know just love doing what they do while they make money.

3:44 PM, September 13, 2010  
Blogger Professor Hale said...

The fastest way to get a million dollars is to start with 2 million. Look at lottery winners. In 2 to 5 years, most of them have lost it all. Giving lots of money to a poor person does not change the habits that made them poor.

3:55 PM, September 13, 2010  
Blogger God Of Bacon said...

I'm going to stop "emoting" and work hard at having parents who were not only mentally stable but had enough money to send me to college by writing a check. This involves using a time machine and a fountain of youth, neither of which has been invented yet but I'm going to work hard at it anyway.

Funny stuff Doc.

4:11 PM, September 13, 2010  
Blogger Edgehopper said...

Luck doesn't matter???

Even when you go beyond the basic "lucky to be born in America to professionals" sort of luck, tiny things matter. Just look at my class year at my fairly large law firm (for a patent boutique, that is):

On the first day, I was assigned to a case that settled in 6 months after an adverse judgment in an administrative proceeding we weren't a part of. Few cases came in thereafter, and I haven't had that much work.

On the first day, my officemate was assigned to a case that went strong for nearly 2 years. He's been doing great.

On the first day, another co-worker was assigned to a case that settled in 3 months. Even less came in for him, and he took a huge pay cut to clerk for the Board of Patent Appeals in D.C.

On the first day, yet another co-worker was assigned to a matter for a client that has tons of work coming in every day. She's been swamped continuously, and is probably the most well thought-of associate in my class year.

The distinction here was luck, nothing else.

2:01 PM, September 14, 2010  
Blogger Target said...

Anyone - whether a person born with severe disabilities and mental retardation in rural China or the son of Harvard professors - can get fabulously wealthy as long as they buy the author's book for $29.95 and follow its instructions.

-----

Actually, what Helen wrote in the original article/post here is a bit offensive - especially since she herself is only going to get "rich" if her husband does in my opinion. She seems to have little empathy for others, and a "rub it in their face" attitude - without even being rich, paradoxically.

Otherwise, it sounds like the people who don't believe in Godhood for rich people here earn more - based on what I have seen over time with regard to their occupations - than the people worshiping rich people. Tells you something.

6:40 PM, September 14, 2010  
Blogger Target said...

"Maybe if they quit emoting at the rich, they might think through more logically how to make a few bucks themselves."

----

Yeah, so get off your duffs, losers.

6:42 PM, September 14, 2010  
Blogger br549 said...

Consider this;

There is not a commenter who ocassions or frequents this blog who has any idea in hell what the financial status of Dr. Helen actually is. Seems there are some who want any change in her purse to be because of her husband, without knowing anything at all. Yet the accusations fly. Is misandry breeding misogyny here - of all places?

You know, schools teach the basic 3 r's, and how to become a good worker bee. That's about it. History is constantly being revised, and I am unfamiliar with most of the history my kids were taught in schools, because I was not taught the same things. Money is a tool, you know. What's a hammer worth sitting in the tool box unused? Go talk to a carpenter. Learn all you can from him.

Ask any blogger if they have purchased a villa from proceeds raked in from their blogs, except Huffy - Poo, who is bankrolled by Soros.

5:22 AM, September 15, 2010  
Blogger Video said...

This book seems to fall into the same category as anyone else who sells "secrets" (Carleton Sheets, Tony Robbins, et. al.). If you really know a "secret" of financial success, you're not going to tell anybody about it. The path seems to be that you have someone ghostwrite a book for you in which you claim to impart perfect knowledge. Every time you sell a book to someone who seeks an easy way to success, you profit, they lose.

Should add that I am dirt-poor by choice. Having nothing to lose is about as liberating as it gets.

11:29 AM, September 15, 2010  
Blogger dr.alistair said...

i see the majority of people around here working real hard for their money, if initially they were fortunate in their situations, the fact remains that they are indentured to their paycheques, no matter how large they may be.

the bloke who lives behind me fires his maserati up around 5.45am each morning to get to the dealership he owns by 7, and i don`t know when he gets back.

another neighbour owns a lawn company and he is digging dirt by 6 each morning even though he has 50 or more trucks on the road.
porsche boy across the street leaves early and pretty soon after he leaves, people show up to cut his lawn, clean his windows, fix his roof, etc.

there is tons of money to be made here if you want ot be at it early and get home dog-tired.

i tell my sons when they get older to buy some lawn mowers and an old truck and hire their freinds for the summer...i`ll become their partner for the first summer if they want, and if they like what happens, they can grow a business to the point where they have 50 trucks on the road and even their own helicopter if that`s what they want.

people around here never cut their own lawns and they will willingly let you become wealthy doing it for them.

1:27 PM, September 15, 2010  
Blogger dr.alistair said...

http://www.gelderman.com/

just one example of people in our community starting small....

1:32 PM, September 15, 2010  
Blogger jay c said...

Wow. There are some crazy, unwarranted extrapolations from Helen's post here.

"It's not jealousy to want to see reality, it's a desire to see reality."

Indeed. Nor is it hostility, snobbishness, or anything else negative.

12:24 PM, September 20, 2010  
Blogger chilitiger said...

This is in reply to videos post.

Stop playing the victim, get over yourself and make some money. without money you can contribute very little to society and it is an excuse not to get hurt or make a mistake or damage your fragile ego, blah blah blah.
And before you give all the usual crap exceuses. I have been there mate and you are lying to yourself.
I was a bum fro two years and what a waste of my life. I had all the reasons for it as well. I was raped as a child, which caused a drug addiction when I was older. the world owed me. It's all a crop. Same old stuff all the sorry for selves dish out.
Thankfully I woke up one day and realized this is MY life!! So I got a trade, started my own business and have been working this business for the past 10 years.
Recently I have decided it is time for more now and I am on a journey to increase my wealth, and it is great teachers such as Tony Robbins Napolean Hill, etc that allow us to change our mindset and reprogram our brains relationship to money.
Video, find some passion. add value to your life while adding value to others and start living not existing. Trust me it is a whole lot better than being broke.

Sorry for the rant, but I couldn't help myself

Namaste

9:45 PM, July 25, 2011  

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