5 Ways Rich People Think Differently From the Rest of Us

Rich people think different
After three decades of interviewing self-made rich people, Steve Siebold, author of "How Rich People Think," has come to the conclusion that well-to-do people have views about money that are "polar opposite" to those that middle-class people hold.

"Rich people see money as freedom and opportunity instead of as the root of all evil," says Siebold. "We're taught that money is the root of all evil, so why would we want to acquire something that we have a general disdain for?"

Siebold's book reveals 100 differences between middle-class people and self-made millionaires. We asked him to share some ways that rich people think differently than those of us with less money in the bank.

Here are five examples:



Michele Lerner is a Motley Fool contributing writer.

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gmydogbud

We need to learn how to say NO to our wants at an early age, if we who earn $30 Thousand or less expect to have anything in our old age. However since the know it alls in government have turned their backs on the American Workers and joyfully passed NAFTA and sent our jobs off shore, there is no place for American Citizens to go but on Welfare. This is what the Ivy League types wanted and this is what they are receiving. Where did those in government think their tax base would come from, when they pushed our jobs off shore? They will just have to go to their rich friends for the money, to run the country.

February 27 2013 at 7:07 PM Report abuse rate up rate down Reply
Artie

A lot of over simplification here and by and large not very enlightening or useful. Typical.

February 26 2013 at 8:44 PM Report abuse +1 rate up rate down Reply
Helen

rich is the goal. I think it should be done quietly. Nobody knows but you and the IRS.

February 26 2013 at 12:58 AM Report abuse +1 rate up rate down Reply
arcangelms

Isn\'t t true that the middle class spending help the rich achieve their goals...

February 25 2013 at 10:54 PM Report abuse +1 rate up rate down Reply
1 reply to arcangelms's comment
laptop603

You mean by purchasing good and/or services? Trade? Commerse?

February 26 2013 at 3:24 AM Report abuse rate up rate down Reply
llamammama2

prob not thinking about where their next meal is coming from, that's for sure.

February 25 2013 at 10:17 PM Report abuse rate up rate down Reply
Bon

ah yes cause we\'re all sheep that think alike right? bugger off.

February 25 2013 at 4:48 PM Report abuse -1 rate up rate down Reply
crimeslawyer

The difference is that they think for themselves. Following the mindless masses is not how to get rich.

February 25 2013 at 3:03 PM Report abuse +4 rate up rate down Reply
Jon

Can I call bull**** on Siebold's logic. It speaks of vast generalizations and simple-mindedness. Perhaps some colleagues/friends/clients Siebold knows have made intelligent decisions that led to financial wealth, and is the basis for his insights.

However, there are certainly other variables that have contributed to having a high net worth. It's not attributable solely to just statements like "Rich people, on the other hand, do not make financial decisions from a place of fear." Uhhh, maybe b/c they have circumstances that support a lessening of fear(s)..(i.e. middle class background support system, college degree and/or highly educated, etc.).

When your on the lower socioeconomic rung of the ladder...you're fearing how to feed yourself and kids and are NATURALLY not concerned with complex decision making about tax write-offs, business startup issues, researching the benefits of ROTH IRA vs. 401K, etc., accounting issues, marketing plan, etc. etc. Using your brainpower to deal with these types of issues...takes time and contemplation...followed by smart decision making.

That said, it boggles my mind sometimes when we BLAME the poor for not "getting it". Probably b/c most of us have never lived it.

February 25 2013 at 2:54 PM Report abuse +1 rate up rate down Reply
1 reply to Jon's comment
vlady1000

You have to "get it" BEFORE you "live it".

February 25 2013 at 9:55 PM Report abuse rate up rate down Reply
Kevin

Most rich people inherited their money, so they know nothing about work, savings and sacrifice to begin with.

February 25 2013 at 1:38 PM Report abuse rate up rate down Reply
2 replies to Kevin's comment
Larry

Where did you get that info from? Sounds like pure jealousy.

February 25 2013 at 4:26 PM Report abuse rate up rate down Reply
vlady1000

not true

February 25 2013 at 9:55 PM Report abuse rate up rate down Reply
wapitibowhunters

Most rich people go to work everyday, while making smart decisions about money. It takes years to make yourself rich with a lot of effort and a little good luck. Poor people spend every thing they make and do without until the nex pay cycle. They live above their means and have children they can\'t afford and all the time blaming the rich for their misfortunes. Thank the welfare system for making so many people live in poverty.

February 25 2013 at 12:35 PM Report abuse +2 rate up rate down Reply
1 reply to wapitibowhunters's comment
god is dead

you're an idiot. it's hard to live "within your means" when you make 7 dollars an hour. the rich are rich because they ahve no bills when their kids because their parents pay for everything, and send them to good schools, and then they get paid better because they have a decent job and went to a good school.

poor people grow up with less, and get paid less. it's pretty easy to get rich when your moms paying for your phone, your car, putting a roof over your head, and feeding you.

February 25 2013 at 5:18 PM Report abuse +1 rate up rate down Reply