7 Reasons the Wealthy Are Wealthy
There many reason the wealthy are wealthy. The majority of poor people are cynics and/or critics. They are stuck in their own broken thinking. When a great opportunity comes to them they are quickly to criticize it. POOR means People Overlooking Opportunities Repeatedly.
1. Thinking. The wealthy think differently than the poor. The continuously invest in their self-education. They understand and respect money; therefore, they are great stewards of money.
2. Investment. The wealthy invest time and money instead of spending time and money. They think return on investment instead of cost.
3. Long term view. The wealthy take a long term view in all that they do. They are quick to make decisions and take actions when the right opportunity is presented.
4. Delay gratification. The wealthy are willing to delay the gratification until they earn money to acquire what is important to them and not to others. They are willing to do the work and wait until they master their craft.
5. Compounding. The wealthy understand and apply the principle of compound interest. They are willing to wait until their assets will produce income for them.
6. Assets. The wealthy accumulate assets instead of liabilities. They own the right assets.
7. Scorecard. They wealthy keep score on their personal finances. They have the courage to face their scorecard and take full control of their personal finances.
Will you join my cause to fight mediocrity in the world? Pass these nuggets on to others.
We make a living by what we get; we make a life by what we give. Be a giver in a world of takers.
Be blessed and be a blessing to others.
Carlos Fontana, President of Phalanx
Co-author of the book Follow to Lead (The 7 Principles to Being a Great Follower)
Author of the book PRICELESS (Sixty-Six Simple Stories of Reflection, Love, and Legacy