Jason brings to light 17 different way that rich people think and act differently from poor and middle-class people.
Announcer: Welcome to Creating Wealth with Jason Hartman, President of Platinum Properties Investor Network in Newport Beach, California. During this weekly program, Jason is going to tell you some really exciting things that you probably haven’t thought of before, or a new slant on real estate, fresh new approaches to America’s best investment that will enable you to create more wealth and happiness than you ever thought possible.
Jason is a genuine self-made multimillionaire, who not only talks the talk, but walks the walk. He’s been a successful investor for 20 years and currently owns properties in nine states. This program will help you follow in Jason’s footsteps on the road to financial freedom through real estate. You really can do it. And now, here’s your host, Jason Hartman.
Jason Hartman: Hi, this is Jason Hartman. Welcome to Podcast No. 14 for Platinum Properties Investor Network. We’re located here in Newport Beach, California. It’s a beautiful day and today I wanted to share with you a great little thing that one of our investors brought to one of our seminars. The author is unknown. I cannot find this anywhere on the internet, so whoever wrote these words of wisdom, I apologize because I don’t know who you are. I typed it into Google and couldn’t find it. But it’s 17 ways rich people think and act differently from poor and middle class people, so let’s get into these 17 great tips and I hope you enjoy them.
No. 1, rich people believe that I create my life. Poor people believe life happens to me. So obviously, the difference there is being the creator and the source or being the victim and the bystander. So take control of your life.
No. 2, rich people play the money game to win and poor people play the money game not to lose. Big difference in thinking here. When you play the money game to win, you play out of abundance because it really is a very abundant world where we all have numerous opportunities in front of us and we’ve just gotta pursue them out of abundance and out of opportunity, rather than out of fear and scarcity. So the poor people are trying to conserve what they have, while rich people are trying to create more and more. And so the abundant attitude and the prosperous attitude is obviously, where we want to be as real estate investors, and real estate allows numerous opportunities to act, think, and create our lives that way, in terms of making the money game win for us and for others.
No. 3, rich people are committed to being rich, whereas poor people want to be rich. There’s a big difference between a commitment and a wish. A commitment means that you jump in with both feet and you make it happen. You take action rather than being a bystander, a spectator, and a critic who’s on the sidelines. So play the game to win, be committed to it, jump in and do it. Don’t just sit there and wish and dream about it. Make it happen. Start to today by taking some action. There’s an old saying that the journey of a thousand miles begins with a single step.
No. 4, rich people think big. There’s a great classic book called The Magic of Thinking Big, and I’d recommend it to any of you. I can’t remember who the author is off the top of my head, but it’s terrific. Look it up on Amazon. No. 4, rich people think big and poor people think small, so keep that in mind when every opportunity in life presents itself and how you want to handle it and take advantage of it.
No. 5, rich people focus on opportunities. Poor people focus on obstacles. There’s a great old quote I remember by I think it was Jack Paar who said, “My life seems to be one long obstacle course with me as the chief obstacle.” So get out of your own way, focus on opportunities, and create what you want in your life.
No. 6, rich people admire other rich and successful people, whereas poor people resent rich and successful people. Huge difference here, again, acting out of abundance or acting out of scarcity. Do you secretly see successful people and are you jealous of them, are you envious? Make sure you do not have those destructive beliefs because they will keep you from the abundance you could have. Always admire rich and successful people and try to use them as role models to create more in your life.
No. 7, rich people associate with positive, successful people, whereas poor people associate with negative people. You know, a long time ago, I was reading a book by one of the great philosophers on business and success in life, Jim Rohn. Maybe you’ve heard of Jim Rohn, but he is a phenomenal, phenomenal speaker and philosopher about business and success. And he said that the people you associate with are so vitally important because when you have something good happen or you’re thinking positive and you wanna move forward in life and make things happen and create success and abundance, and then you go back to your friends and associates and start talking to them about it, and it’s like getting in an elevator where you’re pushing the up button and they’re pushing the down button. So make sure that you are not associating with negative people and you are associating only with positive, successful people that can enrich your life.
No. 8, rich people are willing to promote themselves and their value. Poor people are not. So you know the old saying about shameless self-promotion. Well, that’s kind of a joke because really, if you have value, you should share it with the world. I was out Thursday night and I was talking to another real estate investor, actually in a bar of all places, and he said, “You know, Jason, you seem like a real go giver.” And I thought that was a really neat thing that he said, rather than a go-getter. A go-giver. So share your value, promote yourself; don’t be that type of person that is not out there promoting what they have to offer the world. Share what you’ve learned, share your knowledge, share your experiences with others so you enrich your life and their lives. You’ll never learn something better than you will by teaching it. That is the best way to learn.
No. 9, rich people are bigger than their problems, whereas poor people are smaller than their problems. It makes us stronger. Every obstacle we overcome makes us a better, stronger person. The poet Sophocles said 2000 years ago ‘one must wait until evening to see how splendid the day has been.’ So remember, always be bigger than your problems. In fact, seek out challenges so you can overcome them and become a stronger, better person for it.
No. 10, rich people are excellent receivers, whereas poor people are poor receivers. Well, when someone gives you something, do they give you a gift, a compliment? Make sure you receive it graciously and appreciate it, and don’t feel guilty about receiving it. The world should be enriching us and should give us things, so take advantage of them, appreciate them, be grateful for them, and move on and the world will give you more.
No. 11, rich people choose to get paid based on results, whereas poor people choose to get paid based on time. Another great business philosopher and speaker, Dan Sullivan, the Strategic Coach – he’s a popular speaker on the YEO, Young Entrepreneurs Organization circuit – and he says that there are two economies. There is the results economy and there is the time and effort economy. So make sure that you are, as much as possible, in the results economy because when you’re in the results economy, you can leverage your efforts and create more value more quickly, rather than being in the time and effort economy. Professionals, lawyers, accountants, employees are selling or trading their time for money, whereas entrepreneurs and sales people are trading their results for money. And when you trade results for money, you can create a lot more value a lot more quickly. You get a lot more leverage over things.
No. 12, rich people think both. Poor people think either/or. And that’s back to what I said earlier is that think abundance rather than scarcity. The world is an extremely abundant place, so think both, think inclusively, think abundantly, rather than out of scarcity, out of choice either/or. I can have this or that. Why not have both?
No. 13, rich people focus on their net worth, while poor people focus on their working income. Robert Kiyosaki, the Rich Dad, Poor Dad author, talks a lot about this. He talks about how working income or earned income is taxed and burdened at the highest rate by our government, so you wanna create investment income, portfolio income, and passive income because, again, it offers you leverage and it offers excellent, excellent tax treatment. So focus on your net worth rather than your working income, being in the results economy rather than the time and effort economy.
No. 14, rich people manage their money well, while poor people mismanage their money well. Do I really need to say anything about that one? Manage your money well.
No. 15, rich people have their money work hard for them while poor people work hard for their money. So again, make your money work. The Richest Man in Babylon, that classic, old book, they talk about how your money is like your offspring. Put your offspring to work so that it can multiply. Don’t constantly keep working and trading your time for money. Make your money work. Learn how to manage money, learn how to understand the nature of money, and learn how to make it grow.
No. 16, rich people act in spite of fear, while poor people let fear stop them and keep them from acting. You know the old saying: There’s nothing to fear but fear itself. Go in, jump in, face fear with gusto, and you’ll find you’ll grow and you’ll just overcome things as you constantly take on one challenge and one fear after another. And suddenly they won’t be fearful at all.
No. 17 and finally, rich people constantly learn and grow while poor people think they already know. You know what I’ve noticed about rich and successful people over the years is that they are teachable, they are curious, and they are interested in learning, while poor people are arrogant, intellectual snobs, and know-it-alls. Always be learning; always be growing. You will never know everything. There’s always something more to learn and as Ray Crock, the founder of the McDonald’s franchise – not the original McDonald’s restaurant – always liked to say, as long as you’re green, you’re growing. As soon you’re ripe, you start to rot. So keep on learning and growing.
Anyway, I hope you enjoyed that. Check out www.jasonhartman.com and attend one of our seminars. Listen to our other podcasts or join us for one of our educational events and give us a call if we can help you with your real estate investments. Thanks for listening.
I’m here with Area Manager and Investment Counselor Lynda Mulley, and she just returned from Kansas City and also Grand Junction, Colorado, and Lynda, tell us about what you saw in Kansas City.
Lynda Mulley: Kansas City is a great market, Jason. It’s very stable and solid. It’s a market where there’s good growth and lots of things going on, and there’s some great projects there that I took a look at that I think the investors would love to hear about.
Jason Hartman: Now one of the things we always do is you’ve gotta go buy your own house there if you wanna recommend the area to clients and of course, I’m already an owner in Kansas City. I bought a 4-plex there, but tell us what you’re recommending today in Kansas City.
Lynda Mulley: What we have is a great single-family home, three-bedroom, two-bath, about 1450 square feet, for $189,900.00.
Jason Hartman: Brand spanking new, right?
Lynda Mulley: Brand new, rent ready, close to schools and a beautiful shopping center, big upscale shopping center called Zona Rosa, which I had lunch at and just fell in love with.
Jason Hartman: Excellent. What’s the projected return on investment?
Lynda Mulley: Projected investment return here is 34 percent based on our usual assumptions that we put on our performance projections in the loan that you could get.
Jason Hartman: Excellent. Boy, 34 percent annually. Don’t try that in a mutual fund or the stock market. You probably won’t get it. But you can do it pretty conservatively and prudently with the right real estate investments with the right structure. Lynda, thanks so much for talking about the property in Kansas City.
Lynda Mulley: You bet. Thanks so much.
Jason Hartman: Hey, I just wanted to announce a couple of quick things for you. If you are interested in the Platinum Properties Investment Network franchise in your area, we are now approved for franchising in eighteen states. Please visit www.jasonhartman.com and click on the franchise link, and fill out the short application.
If you are able to come to one of our live events, we would love to see you and meet you in person. We’ve had people fly in from all over the U.S. for them. So hopefully you can join us for some of those events. Also, if you are interested in career opportunities with us, our company is growing quickly and we would love to talk with you about career opportunities. Also, remember our rental coordinator is here to help with your rental properties. If you need assistance with your rentals, your property managers, your advertising, remember we’re here to help and we stay with you through the life of the investment. So feel free to call our office anytime and ask for the rental coordinator for assistance on your rentals.
Also wanna remind you, listen to our old podcasts. At least go back to Podcast No. 13 forward and listen to all the podcasts after that. You’re welcome to listen to all of them. The ones before No. 13 are older, but they’re also good. But the newer ones are No. 13 and forward, which are really good ones to listen to, so please take advantage of that.
Make sure to see appropriate disclaimers and disclosures on our website at www.jasonhartman.com. Remember that we are not tax or legal advisors. So give us a call on any of these issues and remember that we are here to help and we will look forward to talking to you on the next podcast.
This material is the copyrighted creative work of either Jason Hartman, the Hartman Media Company, Platinum Properties Investor Network, Incorporated or the J. Hartman Company, all rights reserved.
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Duration: 17 minutes
