Rich people are cases of success that people look up to trying to find the formula to make as they did. Everyone can set up goals for themselves and be motivated to reach them, but the rules of rich people are slightly different from those of the average population. Even those born into money need to have a particular mindset in order to thrive and don’t lose it all.
9 Rules of rich people you should be following
Rich people didn’t get and remain rich by cutting any slacks. They have the right mindset for generating and retaining revenue and that’s what makes them thrive while others struggle to make end needs.
Even if you’re not fortunate enough to be born into money or to be living a comfortable life, changing your mindset to match that of successful people can have a greater impact than you might think.
Surround yourself with the right people
You learn and evolve by exchanging experiences and talking with the people surrounding you. Having the right network is fundamental if you want to get and stay rich.
If you hang around people as or more successful than you, it doesn’t matter if you’re not in the same trade, you will be given insights that no one else has. You will know what is going on in the world, what are the latest developments and tendencies, not through the newspapers but before this info even reaches them.
Time is power, and if you know what movements and deals are being made before anyone else, you can act to take advantage of the situation quicker too.
Wake up early
Mornings are the moment of the day when the body is more active and you have a clearer mind. Even if you wake up in a bad mood or feeling drowsy, once you start going you’re full on.
One of the rules of rich people is precisely to take advantage of mornings. Don’t lay in bed until noon or chill watching TV. That’s your top moment and you should take use it to tackle the worst tasks you have for the day. This will improve your mood, make you feel more productive and as if you can deal with anything since the worst is over.
You’re probably wondering why would exercise be one of the rules of rich people and yet they all seem to agree that is fundamental. Even the ones that don’t take up exercising practice at least meditation or other mindful techniques.
Rich people understand that if you burn yourself out, you can be productive. You can’t analyze the best business opportunities, the pitfalls ahead, and manage your money smartly if your mind is clouded by stress and your body is tense.
Don’t love, obsess
Once feelings and emotions are involved, your business is likely to suffer. You might love what you do, but you need to obsess about being successful.
If you’re too attached to your business, fear and doubts will cloud your judgment when an opportunity arises.
All goals are long-term
For rich people, there is no such thing as short-term goals. They don’t think “how to get more money now”, they think about “how to get more money”, period. Long-term decisions are usually more profitable, but few have the patience to get to them.
As a minimum, goals are set for the following 3 to 5 years always. At most, you might have short-term steps you need to take to get to get to your final objective.
Investing is a basic step
Since they already have enough to live comfortably, one of the rules of rich people is not to think about saving but rather how to invest.
They keep a close tab on their spendings and ensure they have financial stability. The remaining money they don’t think about how to spend it or how to enjoy luxury. They immediately wonder about different ways to invest that surplus so it generates more revenue.
Update your knowledge constantly
Having a good network of friends is fundamental, but you can’t rely on it to feed you all the new developments and theories that come up almost every day.
Rich people make a point to keep in touch with all the relevant information also by reading books, newspapers and relevant magazines.
You don’t wait for luck, you create luck
This is one of the basic rules of rich people: you don’t wait, you act. They didn’t become and remain rich by relying on luck. They create luck.
Instead of sitting down waiting for a good opportunity to happen, they take an active stance and try to find those good opportunities themselves. Luck is a consequence of their pursuit.
It wasn’t pure luck that they knew someone from Wall Street that gave them a tip over which companies to invest in. It was their work that led them to be able to invest, that allowed them to meet that certain person and that made them charm the individual enough that he or she felt compelled to share the tip.
You set big expectations
You only set low expectations for something when you are afraid of failing or of being disappointed. And because you are trying to protect yourself and only looking for security, you can never move forward.
Rich people always set big expectations. Those are the ones that keep them running and thirsty for results. They expect something big and they will actively pursue it.
Regardless of your political stance, Donald Trump is a good example of this line of thought. Everyone had low expectations for him, except Mr. Trump himself, who believed he could reach the presidency. Again, regardless of what you think of his methods, he set himself to do it and he found ways to get there.
3 Books you should read to get rich
As insightful as the rules of rich people might be, it will be hard to apply some of them to your life if you don’t have the money to begin with. You understand that investing is important, but when you don’t even manage to keep a savings account, this knowledge is useless to you.
What should be the first step, then? Well, to make money. Easier said than done, but the following books can give you a hand to know where to begin.
Think and Grow Rich: The Landmark Bestseller Now Revised and Updated for the 21st Century by Napoleon Hill
The original book was published in 1937 during the Great Depression but it became such a staple that it is now labeled the “Grandaddy of All Motivational Literature”.
In it, Hill explains the steps to money and success based on his own story, but also on those of Andrew Carnegie, Thomas Edison and Henry Ford, among others, cases he studied in depth to improve his own chances of succeeding.
According to the author, all it takes are 13 steps: desire, faith, autosuggestion, specialized knowledge, imagination, organized planning, decision, persistence, a mastermind, sex transmutation, a subconscious mind, a brain and a sixth sense.
The new edition comes with the analysis of Arthur R. Pell, Ph.D., an expert in applying Hill’s thought, to more recent success stories, such as those of Bill Gates, Mary Kay Ash, Dave Thomas and Sir John Templeton.
How to Get Rich by Felix Dennis
Written by the publishing mogul Felix Dennis, this book has been hailed as one of the most realistic when it comes to earning money and getting rich.
It is partially a manual and a memoir, detailing the life of the author while explaining step-by-step his route to success and how you can adapt it to your own context. The reason why this book is so highly rated is that Dennis didn’t hide anything.
He recognizes and explains how sheer luck made him advance in some circumstances, he details his failures and the message he took out of each one, and he assesses his successes too and why they turn out to work.
The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime! by M.J. DeMarco
The title of the book might sound fishy, as if the author had found the key to life and only he knows how to do it. But there’s a point to it, because these sort of books and mindsets is what DeMarco is set to debunk.
Notice that he is an entrepreneur, not a writer, so don’t expect any elegant writing in this book. The author cuts the chase and presents each chapter in a very straightforward way, right to the point.
He is also opinionated without imposing his views and has no qualms in taking jabs at famous speakers and authors that claim to have the sole and the right solution to get rich.
Don’t fake it until you make it
“Fake it until you make” is a common advice given to people. It stems from the positive idea that if you try really hard to believe in yourself, eventually you truly will. It can increase your self-esteem and make you take risks that you would otherwise be too afraid to take.
However, when it comes to money, this advice doesn’t work. Faking being rich will only lead you to spend more than you have. This is one of the rules of rich people that applies to any average Joe: if you spend more than you make, you will find yourself in debt pretty quickly.