“The outer conditions of a person’s life will always be found to be harmoniously related to his inner state…Men do not attract what they want, but that who they are.” – James Allen
All wealthy people know that their outer world is a direct reflection of their inner world and it’s this universal principle that guides them to invest so much time and money on acquiring one asset above all others.
Which asset ? Keep reading
Before I explain what that asset is, I want to ask you a question.
Have you ever wondered why some people seem to almost magically attract wealth and success with very little effort, while the vast majority struggle to make ends meet?
It’s a difficult question, one with an almost mystical answer… When I delved into the topic of wealth creation, there was something that fascinated me…
I found that a person’s wealth has very little to do with skill set, and everything to do with mindset.
How else can you explain how two people with similar backgrounds, identical educations and the very same opportunities often tend to have very different financial situations?
I’m sure you’ve probably seen this yourself at some point. For instance, haven’t you known really good, hardworking people who end up with very little money?
And have you ever met anyone who didn’t work as hard who actually had more money?
Just to give you an example, my own father has worked his entire life, often 12-14+ hour days…
Today he’s in his 60’s and still working and he has no assets or income other than what he gets from his job. He’s a good, hardworking person and a dedicated employee.
However, I’m in my 30’s and my workweek consists of about 20 hours on average. Most of that time is spent writing, teaching or talking to my 6 and 7-figure clients. All of these are things I LOVE doing, so much so that it doesn’t even feel like work to me. And I have more free time to spend doing what I want with my family, or practicing Aikido and traveling the world.
In fact, my most successful friends, coaching students and clients all work less hours and yet we all make more money and have more wealth.
It’s not because we’re lucky. It’s not because we’re well educated. Heck, I’m a high school dropout and almost none of my wealthy friends have college degrees.
It has nothing to do with how hard we work. So what is this secret ability to attract wealth and success?
The answer lies in our very different beliefs about money and wealth creation. Having worked with and personally coached hundreds of people, I’ve found a very consistent pattern of traits and characteristics that all wealthy people share.
One of those traits is, what they really believe at their core, about money and wealth. The following quote by T. Harv Eker, author of “Secrets of the Millionaire Mind”, refers to the concept of a wealthy and successful person’s mindset:
“Rich people have a way of thinking that is different from poor and middle class people. They think differently about money, wealth, themselves, other people, and life.”
Here are 17 ways in which rich people think differently from the poor and middle class:
Rich people believe “I create my life.” Poor people believe, “Life happens to me.”
Rich people play the money game to win. Poor people play the money game to not lose.
Rich people are committed to being rich. Poor people want to be rich.
Rich people think big. Poor people think small.
Rich people focus on opportunities. Poor people focus on obstacles.
Rich people admire other rich and successful people. Poor people resent rich and successful people.
Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
Rich people are bigger than their problems. Poor people are smaller than their problems.
Rich people are excellent receivers. Poor people are poor receivers.
Rich people choose to get paid based on results. Poor people choose to get paid based on time.
Rich people think “both.” Poor people think “either/or.”
Rich people focus on their net worth. Poor people focus on their working income.
Rich people manage their money well. Poor people mismanage their money well.
Rich people have their money work hard for them. Poor people work hard for their money.
Rich people act in spite of fear. Poor people let fear stop them.
Rich people constantly learn and grow. Poor people think they already know.
Really consider that last point… Rich people constantly learn and grow. Poor people think they already know
Now, do you remember a moment ago when I mentioned the single most valuable asset that wealthy people focus on?
This, above all else, is the biggest secret to accruing and multiplying wealth at lightning speed.
So what is this asset they invest so much in?
The wealthy consistently invest in growing their intellectual capital.
Rich people constantly learn and grow. Poor people think they already know. Those who hear my story often come up to me and ask me what my secret is…
They’re looking for that magic bullet… the simple formula for amassing a fortune. Many of them believe I’m holding back and keeping some kind of secret money making method hidden from them.
After all, what other possible explanation could there be, right? I mean maybe I was just lucky all 5 times I started businesses and I gave my lucky rabbits foot to all of my students and clients.
Here’s the real SECRET.
I focus on increasing my assets, the most important being my intellectual capital, or in learning and growing. This thereby increases my personal value. This personal value factor is what has allowed me to break free from the time/wage paradigm.
Instead, I get paid on a value for money basis, which is completely independent of how much time I work.
You too can make that very same choice and the good news is, it’s never too late to choose to have a wealth mindset. It’s never too late to start building your intellectual capital. It’s never too late to change your mindset to start creating leveraged income so you too can become independently wealthy.
What your decision today after reading the blog? Are you ready to master the wealthy game?