The right advice given at the right moment can have a significant impact over time. Rich people’s children have a huge advantage over poor people not because of the resources they already possess but rather because of the mindset their parents instill in them. These are 5 lessons rich people teach their children that the poor don’t.
How to create daily habits that give them incredible advantages:
Habits that give them incredible advantages now one of the most valuable skills you Could teach your child is how to create a habit for themselves habits are amazing and once you realize how valuable they can be your life changes.
It normally takes around 21 days to create a new habit and once you push through that 21-day limit you’re Off to the Races okay that habit becomes a part of you if you don’t read enough transform reading into a habit if you want to get fit but never have the motivation to go to the gym make a habit out of it same goes for work if you make it a habit to organize and optimize your workflow large portions of your day open up for other things.
The rich use the Power of Habit to get ahead in life while the poor nurture toxic habits which lead their lives into ruin the Power of Habit is a tool it magnifies what you feed it the rich simply choose wealth creation actions as their daily habits while poor people pick negative routines so be care careful of what type of habit you instill in your child because children learn from watching you do what you do not from what you teach Them to do.
Money is a tool, and it’s a good thing:
Money is a tool and it’s a good thing how many times have you heard people say that money is the root of all evil think back to the person you heard saying that how successful were they how happy were they in their lives poor people blame their Misfortunes on the lack of money in their lives and attribute an element of negativity to the concept of money as a whole.
This is because even when they get money it leads to more and more problems which they don’t know how to tackle the rich do the exact opposite okay they understand that money is merely a tool which you use to navigate your life it’s just pieces of paper and plastic with drawings on them okay that we exchange for material value nothing more nothing less stop taking money so personal.
Use it for what it was created for exchange it to make your life better it’s very similar to just I don’t know thinking about a pair of scissors or something you could cut hair with scissors or you could stab yourself in the eye once you start thinking of money as a tool the game suddenly changes and you’ll stop harming yourself with it in the end.
Stop expecting immediate results and avoid magical thinking:
Stop expecting immediate results and avoid magical thinking we’re all caught up in this instant environment do you want to watch a movie stream it do you want to eat order in do you want instant relationships swipe left swipe right but most people don’t realize that wealth and happiness don’t fall into this instant category poor people expect to
Get rich quickly to win a large sum of money or inherit property.
They have this weird expectation that their lives will somehow magically become better But the irony is even if they somehow got their hands on a lot of money they’re not educated enough to know what to do with it and eventually they’ll blow through all of it rich parents make it a priority to teach their kids to play the long game long-term thinking is one of the differentiating characteristics of the rich something really interesting.
We discovered is how much progress you can make if you think about life in large batches of time say 5 10 20 years there’s a really great quote from an interview Bill Gates did where he said most people overestimate what they can do in one year and underestimate what they can do in 10 years the new year new me campaign starts every January right but instead of planning for the next year why don’t you start planning for the next decade and maybe this time you’ll do something about it.
Knowledge is more valuable than money in the long run:
There is another quote that we kept hearing a lot when we were getting started and it took a while to fully comprehend the true implications it had but it goes like this invest in Yourself it pays the best dividends sounds easy right you’ve heard us say it.
Before but it has very little to do with a lot more to do with increasing how rewards people who are valuable because valuable people can create value for others and in exchange for that value they can get whatever they want but the concept of becoming a valuable person is not taught to their children by the poor even just a few of the wealthy bring it up.
When their child is growing but those who do see a higher probability of both Success and happiness there are many ways to become valuable from filling a Position in the company to creating a product or service that people use to showcasing your talent to the entire world the more valuable you are the richer you’ll become the only way to become more valuable is through the increase of knowledge skill level and time learn how to be better.
Then practice being better at it for long enough that you start to see noticeable Differences it takes 10,000 hours to master anything that’s why the rich have Their children try a bunch of activities to get a head start on that number of hours someone who has knowledge will always be able to generate money because They’re valuable to the market marketplace but the opposite is not always true sometimes knowledge can be too expensive to buy.
Don’t work for money. Have money work for you:
Work for money have money work for you this is the centerpiece of getting rich right you can read as many books as you would like go to seminars classes get an MBA whatever you want it’s all based on this poor people exchange their time for money and then they spend it the rich use the money.
They get to create more money there are big differences in the approach to finance these two classes of people employ most people stay poor because they believe you need large amounts of money to invest otherwise there’s no point while the rich are always looking for ways to add the smallest drop in the bucket of positive income.
They can find because it’s not about the amount as much as it is about getting used to the idea of growing something yourself you can start a business these days with less than $100 if you know what you’re doing or even for free as long as you’re willing to put in the time as soon as you generate enough Revenue use that money to pay for someone else to do the things that you used to do to keep that business running as you focus on growing and other more important.