Are you truly ready to join the league of the wealthy? I don’t mean the affording the lifestyle of the average middle class who seeks mere comfort. I don’t mean being able to pay your rent promptly, pay your children’s school and be able to afford oversea trips.
I don’t mean being able to afford the best of designers clothing and driving really posh cars. As much as the wealthy are able to afford all of the above and much more, these are not what make you wealthy. There’s what we call a poor man with so much money.
The definition of poverty has evolved. Poverty has moved from begging on the streets to working in corporate glass houses and driving nice cars. I will tell you a good number of things about the league of the wealthy. But I need to be sure – are you truly ready to join the league of the wealthy? Ask yourself. If you are, let’s go!
Here are 11 critical things you have to give up to get started:
(1) The hustler’s mentality
Quit the thought of retiring at 65 and hopefully have enough money to survive until you die. The wealthy look far beyond their immediate needs to impacting the world with their wealth. Think big; consider generations beyond your times.
(2) Too much emphasis on saving
While wealthy people value the importance of saving and investing, they also recognize that the key to getting really, really rich is to focus on earning.
The more you are focused on clipping coupons and living frugally, you will miss major opportunities.
The truth is even in the midst of a cash flow crisis, the rich reject the nickel-and-dime thinking of the masses. They are the masters of focusing their mental vigor where it belongs: on the big money.
(3) The steady paycheck
It’s a known fact that most people choose to get paid based on a steady salary or hourly rate. Meanwhile, rich people choose to get paid based on results and are typically business owners. It’s not that there aren’t world-class performers who exchange their time for a paycheck, but for most this is the slowest path to prosperity; promoted as the safest. The great ones know that owning a business is the fastest road to wealth.
(4) Flexible deadlines
If you want to build wealth, you must have a clear goal, specific plan and rigid deadlines. The average person half-heartedly wants a lot of things while on the flip side, wealthy people wholeheartedly focus on one major goal at a time and set a deadline for its achievement.
(5) Buying things you can’t afford
Ironically, the poor are famous for living beyond their means. I discovered that they’re not big-spenders but they earn so little that they have to spend it all in order to live a decent existence. Rather than spending everything they earn, the rich have multiple streams of income and pay themselves first.
Instead of focusing on spending and saving, focus more on how to earn more, invest a large percentage, and spend the remainder any way you wish if you want to end up in our league.
(6) Entertainment
The league of the wealthy would rather be educated than entertained. They appreciate the power of learning long after university or any formal education is over.
If you walk into a wealthy person’s home, one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful.
The middle class and the poor read novels, tabloids, and entertainment magazines and watch more of entertainment TV channels.
(7) Toxic relationships
Who you hang out with matters more than you may think. In fact, who you choose to surround yourself with could even affect your net worth. Exposure to people who are more successful has the potential to expand one’s thinking and catapult one’s income. We certainly become like the people we associate with. That’s why winners are attracted to winners.
(8) Nostalgia
Average people tend to long for the good old days. Meanwhile, those in the wealthy league are busy dreaming of the future and are optimistic about what is to come. People who believe their best days are behind them rarely make it to the league and often struggle with unhappiness and depression.
The league of millionaires get rich because they’re willing to bet on themselves and project their dreams, goals and ideas into an unknown future.
(9) Being comfortable
Whilst the average person seeks comfort, those enlisted in the league of millionaires are stimulated by uncertainty. Physical, psychological and emotional comfort is the primary goal of the middle class mindset. World class thinkers learn early that becoming a millionaire isn’t easy and the need for comfort can be devastating.
They learn to be comfortable while operating in a state of ongoing uncertainty. This is a fundamental requirement if you must end up our league.
(10) Fear
The great ones are operating at a level of consciousness where fear doesn’t exist. At this level of thought, anything seems possible. Every dream that seems crazy to the masses looks surprisingly doable to us in this league.
(11) Low expectations
While the middle class set their financial expectations low so they’re never disappointed, the rich set their expectations exceptionally high and are up for any challenge. As one of my mentors in the league said to me, “No one would ever strike it rich and live their dreams without huge expectations”.
Ancient wisdom says you get what you expect, yet many people decide to limit their lives to middle-class mediocrity in an effort to protect themselves from failure.
Be intentional about wealth creation. Keep forging ahead; we await your arrival in our league – so much space left to be occupied!
