There’s such a huge focus today on the lifestyle of the rich. We need look no further than all the hoopla that surrounds the likes of Donald Trump, P Diddy and Oprah. The problem is that the focus is on their wealth and fame and not on what got them there. Instead of trying to obtain the lifestyle of the rich, start developing the mindset of the rich.

1. I’ve already mentioned one of my favorite quotes in Sound Advice. The idea of living for awhile like most people won’t in order to live the rest of your life like most people can’t is very powerful. Too many people get in their comfort zone and begin to coast. Break out of this cycle and push yourself to keep achieving.

2. Changing your way of thinking about money is also crucial. It’s not how much you make, but what you do with what you make. If all your after is the high paying job so you can drive the newest car and wear the latest styles, you’ll have the appearance of wealth with no substance. It’s your choice whether to buy consumer goods or investments.

3. The wealthy have their money work for them. Once you realize that there’s only so much time in a day for you to work, you’ll see that you need to do more than just sell your time. Having a job means you’re selling your time for money. Investing means you’re selling the use of your money for more money. There are many ways to invest, but this is what it boils down to.

4. Just as a business has cash flow, we need to understand the personal cash flow of the wealthy. Normal people earn money and then spend it. Unfortunately people are now spending money and then earning it. The wealthy earn money, buy investments, and spend the money that the investments provide. I’m not saying that we’re all there yet, but understand this cash flow pattern and strive towards it.

5. Lastly, I’d like to take a thought from Henry Ford:

“If you think you can do a thing or think you can’t do a thing, you’re right.”

There’s a lot to be said for the power of thought. Once I told myself that I could by a house while still in college, I went after it and did it. It’s now my first rental property.

In order to become wealthy you’ve got to learn to think like the wealthy. Believe you’re rich and you’ll become it.

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