Did you know that one out of two adults secretly want to become incredibly
wealthy someday unfortunately while half of all people want to be rich there
still exists a wide gap in the income distribution between the rich and the
poor the world's richest one percent control about half of the world's wealth
this shows that it takes more than wishful thinking to become rich to
obtain the type of financial independence you've been dreaming about
all your life you must learn to develop a rich mindset that is why in this video
i'll be sharing with you five reasons you need a rich mindset and if you're
new to the channel then hit the subscribe button below for more
life-changing content one of the reasons why people desire to
get rich is to have enough time to do whatever they want however their mindset
is one of the factors limiting them from achieving this lifestyle most people
have a poverty mindset because of their upbringing and lack of education for
instance many people who grew up in a poor home allow their lack of financial
education to hamstring their monetary success another reason why people have a
poverty mindset is the lack of education the more information you have about
money the less likely you're going to make the wrong financial decisions so if
you find yourself constantly worried about money or feeling guilty as soon as
you buy something you may be suffering from a poverty mindset if this sounds
like you continue watching this video so you can start adopting a rich mindset
starting today reason number one you can see opportunities where others see
problems one of the reasons why you need a rich mindset is that it can help you
see opportunities where others see problems we live in a world where
problems are inevitable even your perfect plan may not go to the way you
had expected for instance no one was expecting a pandemic but you would agree
with me that it affected many plans and businesses so how do you cope when you
are faced with a situation that you have little control over the solution is to
develop a rich mindset so that you can see opportunities where others see
problems there's a quote that says you can't change the direction of the wind
but you can adjust your sail this quote describes the attitude of people with a
rich mindset they don't waste the time on things that they have a little
control over instead they look for a solution where others see problems one
of my best acronyms for the word poor is passing over opportunity repeatedly
people with a poverty mentality will see problems even in opportunities a poverty
mindset is the reason why many people give excuses for not succeeding
therefore to develop a rich mindset you have to admit that there is a need to
change your old beliefs this will allow you to be open to learning new things
about money and how it works for instance a poverty mindset makes you
focus on short-term pleasure but a rich mindset teaches you how to delay
gratification for long-term satisfaction however you may never learn how to delay
gratification if you don't admit that you have issues with spending money in
the first place furthermore some of the greatest innovations in our world today
are a result of people who saw opportunities where others saw problems
for example there was a problem of food spoilage before the invention of the
refrigerator and you could only keep foods for a short time just take a
second and imagine how inconvenient life would be today if there were no
refrigerators also we have a recent example such as mark zuckerberg who saw
a problem that students were not connected and he created a solution
which he called facebook today facebook has become one of the largest social
media platforms because of someone's ability to identify opportunities
reason number two you can plan where you want to end up financially another
reason why you need to have a rich mindset is that you can plan where you
want to end up financially there's nothing better than having control over
your money for example you are likely going to be less worried about
unexpected expenses when you plan your finances also planning your finances
reduces the stress that comes with worrying about money did you know that
about four out of five adults are worried that they won't be able to
afford their daily expenses in retirement well now you know so if you
don't want to end up worrying about how you will be able to afford your bills
when you retire you need a rich mindset so that you can plan for unforeseen
expenses as well as retirement therefore if you want to have enough money to be
able to adopt the type of lifestyle that you want you must be ready to change the
habits that you've acquired because of a poverty mindset just look around you and
you'll realize that rich people don't live like everyone else when people with
a poverty mindset are spending money lavishly those with a rich mindset are
looking for opportunities to save and invest so if you want to become rich you
have to start acting like it by changing your mindset first you have to create
financial goals if you want to be in control of your money some examples of
financial goals that you can start with include paying off debts building an
emergency fund saving for retirement buying a home and so many other things
that you need money for that i can't possibly think of if you're watching
this video right now i would like you to take some time to write out all of your
money goals if you've done that let's move on to the next step which is
investing in yourself remember that earlier in this video i said that one of
the reasons why people have a poverty mindset is a lack of education therefore
if you want to develop a rich mindset you should invest in knowing more about
how money works furthermore you need a budget to plan where you want to end up
financially having a budget helps you understand how you spend your money and
how to control it by having a budget you can almost instantly see where you are
spending money unnecessarily and avoid them also by living on a budget you may
be able to avoid and pay off debts more quickly as a result you could have more
money to save or invest also you should know that creating a budget is not
difficult you can even get free templates by searching online reason
number three you can use your rich mindset to help others again one of the
reasons why you need a rich mindset is that you can use it to help others you
can't help a poor person by remaining poor yourself therefore if you ever wish
to contribute to humanity and be of help you can only do that if you have a rich
mindset globally the richest people in the world have been able to contribute
more resources to help people all around the world for instance they can donate
part of their money to research cures to illnesses and diseases you may not be
able to participate in philanthropic activities without first developing a
rich mindset also a rich mindset helps you look for ways to help others that is
why most of the richest people in the world today are producers while the
majority of poor people are consumers people with a rich mindset are always
looking for problems that they can solve there was a communication problem and
someone with a rich mindset thought of the telephone there was a transportation
problem and someone with a rich mindset thought of cars there are other examples
that i can give and elaborate on but for the sake of this video i'll stop here
before we continue many of you have been asking me how i built up this youtube
channel that now makes me over a hundred thousand dollars a year and if you want
to learn the exact steps i took and the ones my students are taking to do the
same you can learn more using the link i've left in this video's description
and pinned comment where you'll find a special offer that i'll be ending very
shortly reason number four you can assess how negative habits detract from
wealth accumulation moving on you need a rich mindset so that you can assess how
negative habits detract from wealth accumulation contrary to what many
people believe most successful people today did not inherit their wealth they
were ordinary people like you and me who decided that they wanted more out of
life and worked hard to get it one of the major differences between successful
people and others are their habits and habits are a result of our mindset if
you have a poverty mentality you're most likely going to choose to do things that
will lead into further financial straights than towards prosperity
furthermore once a habit is formed it is usually difficult to break however most
experts agree that it is possible to replace any habit with another one in
other words you must look for positive habits to replace negative habits if you
want to develop a rich mindset one of the negative habits keeping you from
accumulating wealth is overspending almost every poor person i know is
guilty of this how many times have you gone out just to buy one thing but end
up coming back home with other items that you don't need this is a result of
overspending and you can replace this habit by learning how to save and invest
money another negative habit that is common with people with a poverty
mentality is poor time management no one is more than 24 hours in a day what
separates successful people from others is their ability to manage their time
effectively however poor time management is usually a result of another negative
habit which is procrastination if you find yourself postponing what you ought
to do now to another time it is a sign that you have a poverty mindset i want
you to do something immediately after watching this video i want you to start
doing or make a plan to start doing the things that you've been postponing today
and stick to it reason number five you can see your
money as a tool and finally the last reason you need a rich mindset is that
it helps you see money as a tool people with a poverty mindset see money as a
goal and not a tool and that is why many of them end up working for money
throughout their lives instead of using it as a tool to achieve their goals on
the other hand rich people invest their money and make it work for them it's
important to know that it is more difficult to become rich by actively
trading your time for money the richest people in the world today don't depend
on salaries most of them created a system that can make them more money
therefore most of their incomes are in the form of interest dividends and
capital gains from their assets however people with a poverty mentality stop
making money when they decide to stop working because they only earn by
trading away their time another reason why you need to see money
as a tool is that it can help you create the type of life that you desire every
dollar that you invest today has the potential to make more money for you in
the future therefore by changing your mindset you may be able to stop doing
the job that you don't love doing and use your time for other things you can
use money as a tool to create multiple streams of income so that you don't have
to worry about your finances again most importantly you can enjoy your time by
going to places you've always wanted to go spend more time with your loved ones
and do the things that you love in conclusion do not forget that people
with a rich mindset can always pay money in exchange for the time of those with a
poverty mindset i'm certain that now that you've watched this video you are
on the verge of changing your mindset and enjoying living more comfortably hey
it looks like youtube thinks this next video is the one that will change your
financial life forever give it a watch and let's see if they're right