Topic: Rich Mindset vs Poor Mindset : 6 key differences (Read 3837 times)

A rich mindset and a poor mindset differ from each other. I think the main difference between the two is the approach in money. People with rich mindset tend to view money as a tool to create more wealth, while those with poor mindset tend to view money as something that is scarce and difficult to find or obtain. People with rich mindset see failure as an opportunity to learn and grow, while people with poor mindset tend to see failure as confirmation of their limitations. People with rich mindset are very much proactive and they do take calculated risks, while poor mindset tends to be reactive and they used to avoid taking risks.

that's true there are many things that distinguish the mindset of the rich and poor including the courage to take risks but that doesn't necessarily happen without a reason, many things make or shape a person's mindset and when someone wants it to change it can happen as long as there is desire and will.

I once met someone with a poor mindset, his life never changed and even to want more he did not dare but one thing happened to his life so that only in the next few years he could be successful so I think everyone can be like that as long as there is a desire or something that happens in someone's life that has an impact on these positive things.

Rich mindset and poor mindset are two different ways of thinking about money and health. A rich mindset is characterized by an abundance mentality, where one believes that there are always opportunities to create wealth and that success is achievable through hard work, persistence and smart decisions. People with a rich mindset tend to focus on their goals and take calculated risks to achieve them. They are not afraid to invest in themselves and their future. While poor mindset is characterized by a scarcity mentality, where one believes that there is never enough money or resources to go around. People with a poor mindset tend to focus on limitations and the obstacles that stand in their way. They may be risk averse and avoid taking chances that could lead to success. They may also be hesitant to invest in themselves or their future because they feel that they don't have enough resources to do so.

I think the thing that distinguishes rich mindset vs poor mindset is if they have money, if both are given the same money, for example $ 1 million, then the rich mindset will think about making $ 1 million to $ 2 million in a year, while the poor mindset will think about what to buy with $1 million.

I agree with the conclusion, the main difference between the mindset of rich and poor is the mental attitude one has towards money and success. People with a rich mindset tend to have a positive attitude and focus on growth and opportunity, while people with a poor mindset tend to have a negative attitude and focus on insufficiency. People with a rich mindset also tend to take timely action and don't procrastinate, while people with a poor mindset often delay action and have many excuses for not taking the necessary action.

However, another difference between the rich and the poor lies not only in material wealth, but also in the mindset and mental attitude they have. A positive and creative mindset, as well as a productive and resilient mental attitude, can help a person achieve financial success and achieve their life goals. Rich people with poor minds can also lose their wealth quickly if they are not wise with their money and spend too much of their money on luxury goods and unhealthy lifestyles. The important thing to remember is that mindsets are not static and can evolve over time. If someone has a bad mindset, they still have a chance to change it and improve their overall quality of life. This can be done through education, reading inspiring books and articles, and associating with people who have a positive and successful mindset.

but the problem is that why you allow them ? i mean you can prevent it but still they continue doing it. I really don't know what your reason but for me it was sort of you are just giving it to them or they are asking to lend money which you give also. Most of the rich people i noticed is that the money works for them meaning they are not after money, they are investing into something that later on the money will work for them like a passive income.

There are many opinions that differentiate the mindset of the rich and the poor, but all of these opinions cannot be leveled, because sometimes the situations and conditions are different.

Like rich people, I'm sure most of them have been born into families that were originally rich, and at least are well off. So surely, the habits of their rich parents will be taught to their children. So from a young age they are used to an affluent life, and when they grow up, they only have to ask their parents for capital, and they can start running their own business.

And when it comes to people who are poor, there are also those who were born from backgrounds that are indeed poor, there are also those who were initially rich or affluent, but because they could not manage and organize their assets, they eventually became bankrupt. Not a few people who are poor at first have rich parents, but because their children feel too safe and feel they don't need to look for wealth anymore, in the end their children fall down, because they have never learned about the difficulty of making money.

So in essence, when it comes to spending money, sometimes even rich people waste their money just for fun purposes, maybe it's even rich people who buy a lot of things that really aren't important. Because they have a lot of money, most of them waste their money on things that really don't really matter, such as buying expensive bags, expensive shoes, and expensive vehicles. Even though if you look at its use, items that have low prices also have the same use (I'm here taking my opinion from the facts).

And while poor people, in my opinion, tend to save money all the time, because their income is mediocre, it keeps them thrifty. Of course they only buy basic needs, even if they are cheap, the most important thing is that they have a use for them.

There is huge difference between poor and rich. When rich person receives money he/she does not have to think for basic needs such like food, cloths and shelter but in same time when poor person receive sudden amount he/she must have to think about their basic needs first. This needs does not allow them to invest. Rich people easily invest their money for investment but not easy for poor. My advice is at young age we must understand financial knowledge how to earn, how to save and where to invest and yes we decently teach our kids about financial knowledge from their childhood.

that is important to spend your money wisely.
If I look back I wasted so much money - my friends have been looting me and people think that since I dont have family I dont need money and they kept stealing my money

Yes, and that is because they're giving the importance on how to spend their money wisely. Because if they don't spend wisely, they'll have to work harder.
And instead of working harder, they're working smarter and making their each penny work for them. That's how they're becoming richer with all of the money that they have.
They understand how important it is to spend each of those so that they don't have to work themselves too hard.

What you say is true, but in this condition it is difficult for us to say we are healthy when we don't have money there. Indeed, in terms of the condition of our bodies, we don't have anything serious, but obviously not having money will obviously have a real impact and we may also have to have problems because we always think about it, so I think health also clearly has to have money beside it.
On the other hand, it's about satisfaction. What kind of satisfaction do you want to aim for? when we have a goal in life we obviously need money in it to support everything that is needed to achieve that satisfaction.

I don't mean to prioritize money under any circumstances, but I still feel that as long as we want to be calm, healthy and get satisfaction for ourselves, all of us have to have money as a real criterion.

That is a form of practice that maybe I personally cannot blame what you say because there are some people who are like that, but in terms of the purpose of taking advantage I have said that they take the same goal, namely for their own benefit, both the rich and the poor. in terms of spending or fulfilling bills, it is true that poor people are always pressured by this, but in my opinion, if a poor person has a far-reaching mindset for a better life, they will try their best to get out of that zone.

The key difference between rich and poor mindset in my opinion is, the people with rich mind set focus on growth, always take timely action and perceive opportunities with positive outlook, whereas those with poor mindset have scarcity mentality, focus on short term gains and always have excuse for not taking action on time and have negative attitude. A successful individual always belies in continuously learning and  never blames external factor for his failure, instead learns lessons from mistakes and moves on.

IN my humble opinion - in most case - Rich people would spend their money for their purpose that could give them returns or profit while the poor people are struggling with their bills  spend their money on something don't have.

in some case - success is not only the money which people realise later in their lives.
Success in some people opinion is health -  satisfacTION AND CONTENTMENT TOO

even some educated people would not be able to do the good upbringing of their children
some of the rich people school in our country has the most ill mannered students. i think the best practice kids and their parents do are in JApan - they really produce the gems from the school

Of course, a person who had ONLY been able to reasonably stack away $10 per week over the past 9 years, may well not be a very rich person.. so maybe they don't really have any extra money, so over the whole 9 year period they are going to be tempted over and over and over to dip into the amount that they had saved (including the amount that the savings into bitcoin had appreciated in value), so they likely need to structure their way of managing their wealth in such a way that they are not tempted to dip into their investment.. and if they do dip into the investment, they are somehow attempting to supplement that investment.  None of these investment management practices are easy to figure out, even though for sure it seems to be a much better problem to figure out how to manage having more wealth (and savings) rather than never having had accumulated any kind of savings of investment.

Another thing that happens with the accumulation of wealth is that even if you are not dipping into your wealth, sometimes, you can still experience considerable wealth affects in terms of how you manage other aspects of your money including your freedoms to spend more money without feeling guilt, when you have a decently-sized amount saved/invested.

Of course, some of the financial circumstances (and even psychology of any person is likely to change over a period of 9 years) but hypothetically speaking, let's say that this person ONLY made about $1k per month, and s/he had expenses that include lodging, food, transportation and entertainment that was in the ballpark of $750 to $1.2k per month depending on the month, and so some months, s/he would be able to build an emergency fund and a savings fund, so perhaps s/he would be engaged in such a practice in his/her earlier days into bitcoin, but with the passage of time, even his/her emergency fund became more stable too... so maybe at first when the person first got into bitcoin, the emergency fund was really ONLY enough to cover 1-2 months of living expenses, but after 4 years, the emergency fund could cover 5 months of living expenses and after 8-9 years, the emergency fund started to be able to cover close to a year of emergency expenses, so sometimes there can be decisions to live more adventurous or to spend some of the money in the emergency fund because there is perceived to NOT be a need to keep that much extra funds that are in an emergency fund... and surely none of the abilities to build funds UP to higher levels are guaranteed - including it is far from guaranteed that bitcoin's price will even continue to go up, even though it remains amongst the best of current investment options (if not the best of investment options) that are available to anyone who is able to figure out some kinds of ways to reasonably/prudently invest in such a way that is sufficiently aggressive, while being within his/her own means of income and psychology and also to perhaps be able to reassess in detail once or twice a year to verify if the track that is being followed is working out sufficiently well or if perhaps some kinds of tweaks and adjustments can be or should be made.

So, I guess part of my additional point is to suggest that it can be difficult to maintain the employment of any kind of consistently and persistently meaningful investment strategy over a long period of time, and there can be ways to overly think or overly tweak or to get tempted into withdrawing and/or changing the strategies along the way that may or may not be good for the overall strategies, and I  am not even suggesting that any strategy needs to be perfect in order to still be able to have very good potentials to receive advantages from compounding benefits that come from maintaining an investment over a long period of time and also that perhaps continues to attempt to include ongoing persistent building and accumulating strategies that are some what conservative and even seemingly small, yet the compounding effects can still end up having decently good chances of paying off well especially with something like bitcoin in the mix, so long as you do not over do it and end up fucking yourself along the way because you got too greedy or did not keep persistence in your longer term oongoing investment strategies that should have continued to put reasonable amounts of money into it (and to keep that value secure) with the passage of time.

That is something that is very certain because parents are aware of it or not, they are one of the best mentors that children should have, especially when they see the actual condition of children at a very young age, it is clear that they need great guidance in this matter, so the role of parents is very be vital in this regard.
The reason is quite clear, when we as parents it is clear that we are the ones who spend the most time with children compared to other people so that indeed all forms of behavior that we do will clearly be a real example for our own children.

Indeed, in other cases the role of all fields such as the environment also has an effect, but in this case when we look at the comparison, it is indeed the parents who play an important role in the survival of the child in the future. So when we as parents set an example that is not very good in living life, we cannot expect much for children who can indeed get better, even though this is still possible, but children at a young age will clearly see what parents do first. before other people unless they already have their own thoughts and point of view later.

Yes, that's the reality, but parents should have a greater responsibility to educate their children,
In addition, environmental factors also affect the development of children,
what is clear is that the behavior of parents cannot be used as a benchmark that children will have the same behavior.

Excellent point, you make there. It's incredible to observe how even little contributions over time may yield significant results. People should be aware that they do not need to be wealthy to begin saving and investing for their future. A little weekly investment might grow into a significant sum over time.

Those without a lot of capital to invest would do well to consider Bitcoin, and I agree with you that this is the case. It's a terrific entry point for novice investors because of how simple it is to purchase and sell. You're right that, over time, even a few dollars here and there may amount to a substantial sum.

While Bitcoin and other cryptocurrencies have enormous profit potential, investors should be aware of their extreme volatility. Before putting down any money, it's vital that you study the market and learn about the potential dangers.

Dollar-cost averaging is a method that may be used to invest in Bitcoin or any other asset over time. This method entails putting away a certain sum of money periodically, regardless of the asset's value. By spreading out your investments, you may reduce the likelihood of losing everything in a single market downturn.

Putting away a part of your monthly income specifically for investment is another viable option to consider. The key is to make this a consistent practice, even if it's only a 5% or 10% reduction. In this approach, you may gradually amass a sizable investment portfolio without having to come up with a huge chunk of money all at once.