7 MIDDLE CLASS BELIEFS THAT MAY BE HOLDING YOU BACK FROM GETTING SUPER RICH
These top middle-class beliefs could be keeping you from reaching your full potential in earning.
1.”Working hard, even at a job I don’t like, will make me rich”.
Most people choose jobs that they find “tolerable.” They stick with the job for years, worrying about being fired and dreaming about when they will be able to retire. Why? Because it is the best way to make a lot of money.
On the other side, the ultra-rich believe in finding fulfillment through work. They are driven to find the right job and put their heart and soul into it. In turn, they become a leader in their field and receive rare wealth.
You can change your mind. It is possible to do what you love and become super rich. Look for someone passionate about what they do. Ask them how they got there. Get inspired.
2.”You don’t need a formal education to become rich.”
Their investment in formal education determines middle-class people’s wealth. If the secret to wealth building was good grades, every summa cum laude graduate could be a multimillionaire.
The wealthy understand that financial success does not depend on your ability to remember textbook information. They believe that having specific knowledge, such as how to invest or network with influential people, will significantly impact their net worth.
Some of the world’s most successful billionaires don’t have formal education. According to Forbes, Dell Technologies CEO Michael Dell, who is worth $32 billion, dropped out of the University of Texas at Austin in his freshman year. Apple co-founder Steve Job once stated that dropping out from Reed College was the “best decision” he made.
A change in your mindset. Success and wealth are not guaranteed by formal education. Take an online course if you are passionate about sales. Bill Gates credits his success to having read 50 books per year. Ask a money expert for advice on investing in stocks.
3.”It’s not up to me to get rich.
According to the average person, wealth is a privilege that only a handful of “lucky” people enjoy. In her interview with Fatherly.com, Weiss explains it well: “[Most] middle-class people believe that what they deal with determines how much money they have. This is because of their investments in education, professional skill, and homeownership”.
She continued, “If they do well, then they can trace their good fortune to those investments.” “If they don’t, then blame themselves because they invested insufficiently or poorly. This is also how they judge others’ situations.
The ultra-rich know they can be rich in a capitalist society if they are willing to make enormous contributions to others. They wonder, “If I solve problems for others, why shouldn’t I get wealth in return?” Their behavior reflects that belief and leads them to their goals.
Rethink your mentality. Instead of worrying about how to save money on groceries or bills, think about new ways to solve a common problem.
4.”Extreme wealth can change people…for the worse.”
Contrary to popular belief, money can work for good. According to my interviews, most middle-class people believe that money is a force for good.
Rich champions understand that power, freedom, and liberation reveal a person’s true self. For example, if you were a cheater or a crook before you became wealthy, you will likely be worse off once you become rich. You may be better if you are honest, humble, and hardworking.
You can change your mind. Money will only help you be more kind and generous.
5.It’s a good idea to be safe with your money.
People in the middle class tend to have a scarcity mentality. They believe there won’t be enough of anything. They are cautious with their finances, fearing that they will lose it all.
The rich become richer simply by using their money to make more money. This strategy is risky because there is potential for sudden and dramatic gains and possible losses.
Multimillionaires around the globe are constantly analyzing their investments, both the good and the poor. They are aware that the more they experience, the better they will be able to replace lost money in high-risk deals.
Rethink your mentality. Increase your willingness to take risks and place your faith in yourself when you embark on a new venture, partnership, or investment. Your confidence will increase when you trust your judgment.
5.1.It’s important to teach your children how to save money.
The secret to the downfall of the majority is focusing solely on saving money. Saving money is not bad. But the level at which it is done makes it dangerous.
A 2018 T. Rowe Price survey of over 1,000 young adults (ages 18-24) found that 30% said it was only after turning 15 that they learned about money. 82% of those surveyed said they knew most about saving and being frugal from their parents.
Highly wealthy individuals look for ways to increase their income by at least two-thirds. Then they invest the rest in stocks, bonds, and real estate.
Interviewees said that money is a dynamic medium for exchanging goods and services. They view it as something that should be used to grow and circulate.
It’s essential to change your mindset. Set an example for your children by emphasizing how important it is to know how to grow your money. Demonstrate to your children that investing is fun and that they can spend their money on things that make you happy. It’s only once you live, right?
6.”Money can make people feel stressed and emotional.
People don’t accumulate wealth because they view money through negative emotions. The average adult has been brainwashed to believe that talking about money leads to anxiety and stress, so they avoid it as much as possible.
However, the wealthiest people see money as what it is and what it’s not — through the eyes of logic. They see money as a tool that opens up new possibilities and offers them opportunities. They let their emotions go when strategizing ways to make more money.
Rethink your mentality. Use logic to determine your financial strategy and emotions to encourage you to follow it.
7.”Being comfortable is more important than being happy.”
After decades of studying interviews, transcripts, surveys, and studies, I have realized that the middle class’s primary goal is physical, psychological, and emotional comfort.
However, financial success is not easy. They learn that comfort can have devastating effects and that it’s difficult to strike it rich. They know to be comfortable in an environment of constant uncertainty. One millionaire said to me, “Getting rich is not easy. But I can reap great wealth if you have the mental toughness and the willingness to bear the temporary pain.”
During the initial stages of wealth building, many people avoid things they don’t enjoy. However, rich people are bold and optimistic.
Change your mind. It’s not easy to achieve great goals. People who keep pushing forward are rewarded. You can make a list of five things that you must do today. Although they may seem uncomfortable, they will help you get closer to great wealth.
