What if I told you that every single human on earth has a potential to be
rich and yes this includes you but if this is true then why is it that only a
handful of people become ridiculously wealthy well the truth is that there
were a few key differences in the way the rich live their lives and the way
that the poor are due and this makes all the difference in how wealthy they
become therefore in this video I will share with you the number one thing you
must learn to be rich and if you're new to the channel then hit the subscribe
button below for more life-changing content before we get into the number
one thing that separates the rich and the poor it is important to understand
just how divided these two groups really are in the world we live in today the
richest 1% of the population controls 48 percent of the total wealth and the top
80 richest individuals are worth more than half of the world's population or
roughly 3.5 billion people when considering these figures there is no
doubting the fact that there is a separation between the rich and the poor
while many people assume these wealthy individuals gain their wealth by being
born into wealth or winning the lottery that simply isn't true
in fact only 11 out of the 80 richest individuals were passed down their
fortunes with the other 69 having made their wealth through their own hard work
and determination and one of these 69 individuals is none other than the
investor mogul himself Warren Buffett like the majority of these rich
individuals Warren Buffett grew up in a middle-class family but found a way to
amass the knowledge and skills that would eventually lead them to
accumulating a wealth of over seventy billion dollars now have you ever taken
a second out of your day to consider what these individuals are doing that
you aren't that makes them significantly richer than yourself when you think
about it a rich and a poor person can live in the same city have access to the
same jobs and both only have 24 hours in the day yet one could be a living
paycheck to paycheck while the other can have more money that they can spend in
an entire lifetime all these commonalities make it hard to decipher
just how someone can be so rich when billions of others are struggling
financially well let me share with you a story of two men Tim and Jake and
through the story you will learn exactly what separates the rich in the poor and
the number one thing you must learn to be rich before we get going you should
know that both Tim and Jake have similar Hue's come from middle-class families
and live in the same city in short neither man has any advantage over the
other however their bank accounts are at total opposite ends of the money
spectrum it's Monday afternoon and both Tim and
Jake commute home from work when Jake gets home he goes over to his couch
turns on his xbox and plays endless hours of video games to numb himself
from the long day he had at work well Jake's boss recommended that he should
read more books in order to increase his chances of getting promoted this year
Jake can't be bothered to read especially now that the new Call of Duty
has been released when Tim arrives home he immediately
loves into his computer and start studying hours passes Tim reviews his
notes for his upcoming exam well Tim already has a master's degree and
multiple designations he continues to put in a few hours every night to work
towards another accreditation which will help him scale the corporate ladder
faster in fact Tim recently learned that one of his idols Dan Locke invests over
five hundred thousand dollars a year into continuous learning
Tim figures that if millionaires are investing that much time and money into
learning new things then he should definitely be doing the same at work the
next day Jake's boss begins handing out bonuses
to all the employees a jake opens up his envelope he sees that he's gotten $100
bonus much less than all of his peers jake goes up to his boss and complains
saying that he's been at the company for ten years and this is an embarrassing
bonus to have received his boss goes on to point out that jake never stays late
to help his team and that his productivity has dropped every year
since he started across town tim is plowing through his current project at
work when his boss approaches him his boss hands him an envelope and as he
opens it he sees in front vomit check for $10,000 in his name Tim is stunned
and very appreciative of the generous bonus Tim's boss goes on to explain that
Tim has been putting in a ton of hours as of late and his last project saved
the company 1 million dollars in operating expenses so it recognized his
work this was the least that they could do
the following week jake is counting down the days until Thursday which is when he
gets paid as soon as his boss gives him his bi-weekly check he rushes to the
bank and begins sending out payments to all of his creditors he sends money to
his landlord to his hydro company and of course his monthly installment for
income tax a Jay gets to the end of the month he
decides to see just how much money he's saved as he opens his balance he
realizes that not only did he not save any money but that his accountant was
lower than it was a month prior Jake has no idea where all the money could have
gone when Tim gets paid $500 is automatically deducted and is funneled
into a savings account that he can access after making sure his savings
have been funded for the month Tim then makes his mortgage payment pays his
utilities company and makes his monthly installment of income taxes to the
government a month send Tim smiles as he notices that once again his bank balance
has grown making him even richer than he already is one night after work Jake is
watching TV and sees an ad for a new high-definition television that is being
released the TV costs $1,000 which is all the Jake can afford to spend on
entertainment devices for the year well Jake contemplates this purchase he has
also been dying to buy the new PlayStation that just came out but it
cost a $500 there is no way he can get both Jake Salk's wishing that his boss
didn't suck and had given him a bigger bonus so that he could Ford to buy both
after passing his exam Tim wants to treat himself for his hard work and
decides that he wants to buy himself a new gaming system and TV Tim - only as a
budget of $1,000 for his purchase but really wants both the new
state-of-the-art TV and PlayStation console instead of deciding between the
two Tim asked himself how he can get both Tim figures that he can take on a
side consulting project during the extra $500 he needs to cover the cost of the
PlayStation and build himself the perfect gaming setup to celebrate his
big accomplishment because Jake dreads going into work every day he has made
grabbing a Frappuccino from Starbucks a staple in his morning routine without
his sugar filled latte Jake knows he couldn't even make it through just a few
hours at work which makes him more than happy to trade $5.00 day for his morning
jolt of caffeine Tim on the other hand walks right by Starbucks every day and
instead of getting an expensive latte he drinks a free coffee that served at work
sure the coffee isn't as good as Starbucks but being able to say five
dollars a day in coffee is well worth it in his eyes
you see Tim has been saving up that $5.00 a day for a year and now has
$1,500 which is going to use on an on of trip to Mexico with his friends Tim
also knows that this delay no gratification helps him embody the
traits of his fellow rich peers as he learned while reading at Temple
University study the study ranked the most important factors in determining
affluence occupation education location and gender topped the list but delaying
instant gratification beat out many of the more traditional signals including
age race ethnicity and height researchers believe that a person's
ability to envision larger future rewards makes them much less likely to
succumb to short-term pleasures which is why turning down a daily latte was easy
when envisioning all the funny would have on the beach in Mexico with his
friends as the economy starts to fall on hard times many companies begin to
layoff people as a cost-cutting tactic as Jake is sitting at his desk one
afternoon scrolling through Facebook and doing the bare minimum to keep his job
he gets a note from his boss the message says please hand in your laptop and
badge at the front desk we are letting you go Jake begins to freak out
wondering how we will pay his rent in bills now that his sole source of income
is gone Jake always believed that being an employee meant having job security
and after getting fired he began to wonder if this impression was wrong to
have health for so many years unfortunately for Tim he too is let go
by his boss in an exit interview tim's boss talks for an hour about how great
of a worker he is and how we had to let go all of his other employees before
finally letting Tim go Tim graciously accepted his fate and thanked his boss
for the opportunity and reassured him that he would be fine financially you
see Tim knew that no job is secure which is why as soon as he entered the
workforce he began building an online business and contributed to a dividend
stock portfolio which are now established enough to keep him afloat
until he finds another job I bet a week after getting let go jake is at home
moping with his other loser friends about just how much the economy sucks
and how it will be nearly impossible to find another job they go on about how
unfair life has been to them and how they will be rich if they had gotten the
same lucky bricks as others the evening after getting let go Tim invites his
close friends over Drew's house for dinner as a group were eating Tim
explains that due to the hard economic times he's been let go by his company
but reassures his friends of his other sources of income will more than support
his current lifestyle one friend excitedly says that this is the perf
time for Tim to join his construction company and offers them an executive
position another friend chimes in and asked him
if he wants to start a consulting company with her as the two have worked
so well together in the past and could become one of the leading firms in their
city in no time so have you guessed what separates these
two individuals and why one would be much more likely to become rich while
the other continues to struggle financially the number one thing you
must learn and what separates these two men is their wealth building habits
throughout the story where we see as Tim employee wealth building habits by
continuously learning training value for money instead of time paying himself
first having a growth mindset delaying gratification building multiple streams
of income and finally positioning himself around other successful
individuals you see becoming rich doesn't take one single action but
instead it is a culmination of numerous actions compounded over time which is
why if you want to become rich you must are developing your own wealth building
habits thanks for watching if you want to go from the life you have to the life
you deserve then hit the subscribe button now