6 Money Lessons The Rich Want To Teach You
Regular folks are ambivalent when it comes to the rich. They celebrate individual wealthy people for their contributions to the world, whether in business, music or film, but they hate them as a group, seeing them as exploiters and users.
It turns out that the average rich person is the same as anybody else, but with a notable exception – they understand what it takes to make money.
Here are some lessons that the rich want to teach you.
Money Solves Many Big Life Problems
It’s a myth that money doesn’t solve problems: it does. It gives you freedom and flexibility with your time, allowing you to focus more on the things that really matter – relationships and fun. While it’s true that money doesn’t eliminate all problems, it gets pretty close.
When you think that the number one reason for marital stress are financial problems, money can help grease the wheels of relationships, leading to a happier family life. And when you consider that healthcare expenses are a significant issue for many families, having money takes all that worry away.
Be Smart About What You Buy
If there’s something you want, then there’s a good chance that somebody is willing to sell it to you. We live in a world saturated with products, claiming to tend to our every need.
The rich see through this. They know that a big chunk of stuff out there just isn’t worth their while, and won’t make the slightest difference to their quality of life. They know that it doesn’t matter how big their paychecks get, frivolous spending can still ruin them.
Johnny Depp learnt this lesson the hard way after divorcing Amber Heard. Even with more than $500 million in the bank at his peak, Depp developed an unhealthy spending habit which saw him part with more than $1 million per week. Over time, he ran down his savings when he could have grown his money.
Use Money Wisely
The rich don’t like to get into debt, especially the wrong kind. They understand that cash loans can be a great online alternative to regular credit. They only use debt as a tool to get money that they know they can make in the future.
Elon Musk is perhaps the best example of this in the modern world today. To get his car production facility up and running, he needed to spend upwards of $4 billion in capital. Raising that kind of money isn’t easy, but he succeeded because he knew that if the electric car revolution kicked off, he’d be at the centre of it. With production now in full swing, he can make billions in profit, way more than the initial amount he borrowed.
Opportunity Is Everywhere
Here’s another thing that the rich want you to know: opportunities are limitless. There’s no cap to how much you can earn, only a cap on how much you think you can.
Wealthy people understand that making money depends on solving problems. There are always new problems out there that need addressing, and so there are forever more money-making opportunities.
The economic pie isn’t fixed. It can be made larger with the right forethought. It can be a win-win situation. Entitlement isn’t necessary, and history proves it.
Rich People Aren’t Smarter Than You
The education system teaches us that we need to be smart to be successful. But rich people know that they aren’t always the most intelligent people in the room. They know, however, how to put the intelligence that they have to good use.
The most fundamental lesson is that no matter how smart you think you are, you’ll never make any money unless you just do it. Starting on the journey to wealth is the hardest part, but once you get on board that train, the journey becomes more natural and more comfortable. Opportunities open, connections are made, and once problems get solved, money gets made.
Wealth Leads To Freedom
There is an inextricable link between wealth and freedom. Although many people believe that the law applies equally to all, in reality, this just isn’t the case. Wealthy people can bypass many of the impositions the government puts on regular citizens and can enjoy a higher quality of life.
Travelling is an obvious example. The wealthy use private jets to bounce between destinations, avoid many of the passport controls and intrusive body scans the regular people must endure. They can also go wherever they like without worrying about if they can afford to do so.