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21 Ways Rich People Think Differently Than Average People
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Prophylaxis Offline
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21 Ways Rich People Think Differently Than Average People
Here's a fantastic article someone shared on my facebook feed. Personally I find it hard to disagree with any of the points.

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Quote:1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.

"The average person has been brainwashed to believe rich people are lucky or dishonest," Siebold writes.

That's why there's a certain shame that comes along with "getting rich" in lower-income communities.

"The world class knows that while having money doesn't guarantee happiness, it does make your life easier and more enjoyable."

2. Average people think selfishness is a vice. Rich people think selfishness is a virtue.

"The rich go out there and try to make themselves happy. They don't try to pretend to save the world," Siebold told Business Insider.

The problem is that middle class people see that as a negative––and it's keeping them poor, he writes.

"If you're not taking care of you, you're not in a position to help anyone else. You can't give what you don't have."


3. Average people have a lottery mentality. Rich people have an action mentality.

"While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems," Siebold writes.

"The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It's the average person's level of thinking that breeds this approach to life and living while the clock keeps ticking away."

4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.

"Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge," he writes.

"Meanwhile, the masses are convinced that master's degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness...The wealthy aren't interested in the means, only the end."


5. Average people long for the good old days. Rich people dream of the future.

"Self-made millionaires get rich because they're willing to bet on themselves and project their dreams, goals and ideas into an unknown future," Siebold writes.

"People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression."

6. Average people see money through the eyes of emotion. Rich people think about money logically.

"An ordinarily smart, well-educated and otherwise successful person can be instantly transformed into a fear-based, scarcity driven thinker whose greatest financial aspiration is to retire comfortably," he writes.

"The world class sees money for what it is and what it's not, through the eyes of logic. The great ones know money is a critical tool that presents options and opportunities."

7. Average people earn money doing things they don't love. Rich people follow their passion.

"To the average person, it looks like the rich are working all the time," Siebold says. "But one of the smartest strategies of the world class is doing what they love and finding a way to get paid for it."

On the other hand, middle class take jobs they don't enjoy "because they need the money and they've been trained in school and conditioned by society to live in a linear thinking world that equates earning money with physical or mental effort."

8. Average people set low expectations so they're never disappointed. Rich people are up for the challenge.

"Psychologists and other mental health experts often advise people to set low expectations for their life to ensure they are not disappointed," Siebold writes.

"No one would ever strike it rich and live their dreams without huge expectations."


9. Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.

"That's why people like Donald Trump go from millionaire to nine billion dollars in debt and come back richer than ever," he writes.

"While the masses are fixated on the doing and the immediate results of their actions, the great ones are learning and growing from every experience, whether it's a success or a failure, knowing their true reward is becoming a human success machine that eventually produces outstanding results."

10. Average people believe you need money to make money. Rich people use other people's money.

Linear thought might tell people to make money in order to earn more, but Siebold says the rich aren't afraid to fund their future from other people's pockets.

"Rich people know not being solvent enough to personally afford something is not relevant. The real question is, 'Is this worth buying, investing in, or pursuing?'" he writes.


11. Average people believe the markets are driven by logic and strategy. Rich people know they're driven by emotion and greed.

Investing successfully in the stock market isn't just about a fancy math formula.

"The rich know that the primary emotions that drive financial markets are fear and greed, and they factor this into all trades and trends they observe," Siebold writes.

"This knowledge of human nature and its overlapping impact on trading give them strategic advantage in building greater wealth through leverage."

12. Average people live beyond their means. Rich people live below theirs.

"Here's how to live below your means and tap into the secret wealthy people have used for centuries: Get rich so you can afford to," he writes.

"The rich live below their means, not because they're so savvy, but because they make so much money that they can afford to live like royalty while still having a king's ransom socked away for the future."


13. Average people teach their children how to survive. Rich people teach their kids to get rich.

Rich parents teach their kids from an early age about the world of "haves" and "have-nots," Siebold says. Even he admits many people have argued that he's supporting the idea of elitism.

He disagrees.

"[People] say parents are teaching their kids to look down on the masses because they're poor. This isn't true," he writes. "What they're teaching their kids is to see the world through the eyes of objective reality––the way society really is."

If children understand wealth early on, they'll be more likely to strive for it later in life.

14. Average people let money stress them out. Rich people find peace of mind in wealth.

The reason wealthy people earn more wealth is that they're not afraid to admit that money can solve most problems, Siebold says.

"[The middle class] sees money as a never-ending necessary evil that must be endured as part of life. The world class sees money as the great liberator, and with enough of it, they are able to purchase financial peace of mind."

15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained.

While the rich don't put much stock in furthering wealth through formal education, they appreciate the power of learning long after college is over, Siebold says.

"Walk into a wealthy person's home and one of the first things you'll see is an extensive library of books they've used to educate themselves on how to become more successful," he writes.

"The middle class reads novels, tabloids and entertainment magazines."

16. Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.

The negative money mentality poisoning the middle class is what keeps the rich hanging out with the rich, he says.

"[Rich people] can't afford the messages of doom and gloom," he writes. "This is often misinterpreted by the masses as snobbery.

Labeling the world class as snobs is another way the middle class finds to feel better bout themselves and their chosen path of mediocrity."


17. Average people focus on saving. Rich people focus on earning.

Siebold theorizes that the wealthy focus on what they'll gain by taking risks, rather than how to save what they have.

"The masses are so focused on clipping coupons and living frugally they miss major opportunities," he writes.

"Even in the midst of a cash flow crisis, the rich reject the nickle and dime thinking of the masses. They are the masters of focusing their mental energy where it belongs: on the big money."

18. Average people play it safe with money. Rich people know when to take risks.

"Leverage is the watchword of the rich," Siebold writes.

"Every investor loses money on occasion, but the world class knows no matter what happens, they will aways be able to earn more."


19. Average people love to be comfortable. Rich people find comfort in uncertainty.

For the most part, it takes guts to take the risks necessary to make it as a millionaire––a challenge most middle class thinkers aren't comfortable living with.

"Physical, psychological, and emotional comfort is the primary goal of the middle class mindset," Siebold writes.

World class thinkers learn early on that becoming a millionaire isn't easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty."

20. Average people never make the connection between money and health. Rich people know money can save your life.

While the middle class squabbles over the virtues of Obamacare and their company's health plan, the super wealthy are enrolled in a super elite "boutique medical care" association, Siebold says.

"They pay a substantial yearly membership fee that guarantees them 24-hour access to a private physician who only serves a small group of members," he writes.

"Some wealthy neighborhoods have implemented this strategy and even require the physician to live in the neighborhood."


21. Average people believe they must choose between a great family and being rich. Rich people know you can have it all.

The idea the wealth must come at the expense of family time is nothing but a "cop-out", Siebold says.

"The masses have been brainwashed to believe it's an either/or equation," he writes. "The rich know you can have anything you want if you approach the challenge with a mindset rooted in love and abundance."

If you're not growing, you're dying.
03-19-2013 02:02 AM
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PrimeTime32 Offline
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RE: 21 Ways Rich People Think Differently Than Average People
It's actually an entire book and it has 100 ways in which rich people think differently from the masses. Definitely worth reading.
03-19-2013 04:25 AM
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bojangles Offline
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RE: 21 Ways Rich People Think Differently Than Average People
someone should make a blue pill vs red pill one like this

Don't forget to check out my latest post on Return of Kings - 6 Things Indian Guys Need To Understand About Game

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03-19-2013 05:58 AM
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billy Offline
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RE: 21 Ways Rich People Think Differently Than Average People
I disagree with most of them and think its a load of crap but each to their own.
03-19-2013 10:39 AM
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Bad Hussar Offline
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RE: 21 Ways Rich People Think Differently Than Average People
Nice post Proph. Lot's of material for reflection.

It's not an original observation, but sometimes it seems that it would be easier,psychologically, to move from Poor >>> Rich, rather than from Middle Class >>> Rich. The Middle Class have more baggage to unload in order to move forward.
03-19-2013 11:06 AM
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WestCoast Offline
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 11:06 AM)Bad Hussar Wrote:  Nice post Proph. Lot's of material for reflection.

It's not an original observation, but sometimes it seems that it would be easier,psychologically, to move from Poor >>> Rich, rather than from Middle Class >>> Rich. The Middle Class have more baggage to unload in order to move forward.

That's a pretty good observation and the 21 list is legit.

Middle class takes a "protective mindset" protecting their middle class ness, so they have a harder time unloading that belief system of protection and switching to aggression.
03-19-2013 11:37 AM
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jammer Offline
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RE: 21 Ways Rich People Think Differently Than Average People
Some of that BS is like rich people making money following their passion. Do you think that investment bankers and lawyers really love their jobs? They don't. Working 60-80 hours/week to be rich is not fun.
03-19-2013 02:49 PM
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Prophylaxis Offline
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 02:49 PM)jammer Wrote:  Some of that BS is like rich people making money following their passion. Do you think that investment bankers and lawyers really love their jobs? They don't. Working 60-80 hours/week to be rich is not fun.

Now you're just generalising. The term rich here, extends beyond monetary terms.

If you're not growing, you're dying.
03-19-2013 03:33 PM
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Prophylaxis Offline
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 11:06 AM)Bad Hussar Wrote:  Nice post Proph. Lot's of material for reflection.

It's not an original observation, but sometimes it seems that it would be easier,psychologically, to move from Poor >>> Rich, rather than from Middle Class >>> Rich. The Middle Class have more baggage to unload in order to move forward.

YES! I'm sure there is a small percentage of poor (?5%) who let their circumstances motivate then. These are your classic over-achievers in all facets of life. They often become the mega-rich. Certainly not having traditional beliefs instilled from a young age helps.

If you're not growing, you're dying.
03-19-2013 03:40 PM
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kdolo Offline
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 03:33 PM)Prophylaxis Wrote:  
(03-19-2013 02:49 PM)jammer Wrote:  Some of that BS is like rich people making money following their passion. Do you think that investment bankers and lawyers really love their jobs? They don't. Working 60-80 hours/week to be rich is not fun.

Now you're just generalising. The term rich here, extends beyond monetary terms.

You miss the point. Just because something is your passion doesn't mean it has to be fun or easy. i.e. - staying in shape and getting ripped.

its my passion - but in no way shape or form is it easy nor fun - its only truly fun after looking at the results in the mirror or getting accolades from HBs.

those lawyers or I-bankers you talk about have a passion to best they can be at their profession or to make the deal happen or to win the case etc...

none of that means that it has to be easy or "fun". - Accomplishing even good things in life is rarely easy or fun - in particular if its your passion
(This post was last modified: 03-19-2013 04:17 PM by kdolo.)
03-19-2013 04:16 PM
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kdolo Offline
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 10:39 AM)billy Wrote:  I disagree with most of them and think its a load of crap but each to their own.

you disagree ? great .... how about explaining a bit why ???
03-19-2013 04:18 PM
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el mechanico Offline
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 04:18 PM)kdolo Wrote:  
(03-19-2013 10:39 AM)billy Wrote:  I disagree with most of them and think its a load of crap but each to their own.

you disagree ? great .... how about explaining a bit why ???
I'm with Billy most rich people get there by being cheap and thinking about every fucking penny they spend.

One guy that works for me is worth a few million and charges his cell phone in my office to save power, has no cable, insurance, A/C in the summer? No way is his power bill gonna hit 60 bucks in a month...

His Dad even worse! He called his son "Rockerfeller" for having a store bought coffee cup in his hand.
03-19-2013 04:35 PM
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BortimusPrime Offline
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RE: 21 Ways Rich People Think Differently Than Average People
It's really easy to write articles like this when you don't cite any facts or statistics. Some of these statements may be true but most of them just sound like some libertarian prattling on about the superior moral character of the wealthy based on his Ayn Rand novel instead of any sort of evidence.

Compare this to a real example of a difference between the rich and poor which was some documentary about obesity I watched a while ago with a doctor pointing out that a major problem they have in treating the poor is that lower class people tend to be intimidated by doctors and just silently do whatever the doctor says instead of speaking up and volunteering information that might help the doctor make a better decision.
(This post was last modified: 03-19-2013 05:07 PM by BortimusPrime.)
03-19-2013 05:01 PM
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Ensam Offline
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RE: 21 Ways Rich People Think Differently Than Average People
Yeah, I grew up around rich people. They're either cheap fucks, criminals, or insanely lucky. If you work hard the best you can hope to get is well off.
03-19-2013 05:04 PM
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 05:04 PM)Ensam Wrote:  Yeah, I grew up around rich people. They're either cheap fucks, criminals, or insanely lucky. If you work hard the best you can hope to get is well off.

Not true.

I work with/for rich people. As a rule, they work harder, longer than others and are tremendously ambitious - they have a higher energy level - even as seniors.....

they are frugal - as in not into too much conspicuous consumption, but, are very generous to friends and family.

most are first generation rich and started from scratch or quite humble- and have grinded for 20-30-40 years building what they have. Many have flamed out into bankruptcy at least once - some multiple times - only to start from scratch - and rebuid.
03-19-2013 06:08 PM
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 05:01 PM)BortimusPrime Wrote:  It's really easy to write articles like this when you don't cite any facts or statistics. Some of these statements may be true but most of them just sound like some libertarian prattling on about the superior moral character of the wealthy based on his Ayn Rand novel instead of any sort of evidence.

Compare this to a real example of a difference between the rich and poor which was some documentary about obesity I watched a while ago with a doctor pointing out that a major problem they have in treating the poor is that lower class people tend to be intimidated by doctors and just silently do whatever the doctor says instead of speaking up and volunteering information that might help the doctor make a better decision.

Most of the ones that are falsifiable are false.

I didn't bother to read all of them but...

Quote:1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.

This is retarded. The richest people in America vote disproportionately Democratic. Sorry, I've lived around rich people, and I've never heard them say that money OR poverty is the root of all evil. If they're a liberal, they're more likely to blame inequality than either of those.


2. Average people think selfishness is a vice. Rich people think selfishness is a virtue.

See above, same shit.


4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.

Hmm, the rich are disproportionately represented in elite undergraduate and graduate education.

7. Average people earn money doing things they don't love. Rich people follow their passion.

Most people who follow their passion are earning less than they would have if they sucked it up and went for the money. Eg, barista actor vs oil worker.


12. Average people live beyond their means. Rich people live below theirs.

True, somewhat.

Relatedly, I was just driving home, thinking that you can tell someone's class by the ratio of their home expenses to their car expenses - the higher the class, the higher the ratio. (Doesn't apply in places where people don't own cars.)

16. Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.

Some are, some aren't. It's not all in your head.

21. Average people believe they must choose between a great family and being rich. Rich people know you can have it all.

New money today tends to work very hard, with long hours. You tell me if that makes having a 'great family' easy...

All in all, this guy is writing fluff that he knows his audience will like. It's like advice from a woman on dating - a third of it is true, a third of it is false, and the other third is irrelevant fluff. And you'll go crazy trying to figure out which is which.
(This post was last modified: 03-19-2013 07:57 PM by Basil Ransom.)
03-19-2013 07:55 PM
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Ensam Offline
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 06:08 PM)kdolo Wrote:  
(03-19-2013 05:04 PM)Ensam Wrote:  Yeah, I grew up around rich people. They're either cheap fucks, criminals, or insanely lucky. If you work hard the best you can hope to get is well off.

Not true.

I work with/for rich people. As a rule, they work harder, longer than others and are tremendously ambitious - they have a higher energy level - even as seniors.....

they are frugal - as in not into too much conspicuous consumption, but, are very generous to friends and family.

most are first generation rich and started from scratch or quite humble- and have grinded for 20-30-40 years building what they have. Many have flamed out into bankruptcy at least once - some multiple times - only to start from scratch - and rebuid.

I'm not saying they don't work hard and bust their asses but every rich person I know personally is a little fucked up. They either pinch pennies to that point that it's ridiculous or they did something shady. A few did work hard and get very, very lucky. Not a single one got it through hard work alone. You gotta go drinking with their kids to get the real stories.
(This post was last modified: 03-19-2013 09:00 PM by Ensam.)
03-19-2013 08:59 PM
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worldwidetraveler Offline
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RE: 21 Ways Rich People Think Differently Than Average People
The harder I work, the luckier I get.

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03-19-2013 09:05 PM
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 10:39 AM)billy Wrote:  I disagree with most of them and think its a load of crap but each to their own.

100 bucks says you are broke.
03-19-2013 09:13 PM
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RE: 21 Ways Rich People Think Differently Than Average People
This all goes back to Nietzsche and the Sklavenmoral (slave morality) versus the herrenmoral (master morality). See: http://en.wikipedia.org/wiki/On_the_Gene...f_Morality

Slave morality is looking at the rich, the beautiful, the successful, and being jealous, and concluding that they are oppressing everybody else and got their illegitimately. In other words, envy. It is your beta schlub roommate saying that "you are just lucky to get girls, and I can't lose weight because of my genes, and I'm perfectly content with my life as it is thank you very much." The master morality is quitting the shitty job, trying new looks, adding language skills, traveling and figuring out how to get ahead and live comfortably.

The people getting all butthurt about this - it mostly applies to those entrepreneurs and movers and shakers out there in the world actually doing something. It doesn't mean all rich people are necessarily moral and noble all the time. So if you know one rich asshole it doesn't invalidate the general sentiment.
03-19-2013 09:48 PM
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Vitriol Offline
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 09:48 PM)TheRookie Wrote:  This all goes back to Nietzsche and the Sklavenmoral (slave morality) versus the herrenmoral (master morality). See: http://en.wikipedia.org/wiki/On_the_Gene...f_Morality

Slave morality is looking at the rich, the beautiful, the successful, and being jealous, and concluding that they are oppressing everybody else and got their illegitimately. In other words, envy. It is your beta schlub roommate saying that "you are just lucky to get girls, and I can't lose weight because of my genes, and I'm perfectly content with my life as it is thank you very much." The master morality is quitting the shitty job, trying new looks, adding language skills, traveling and figuring out how to get ahead and live comfortably.

The people getting all butthurt about this - it mostly applies to those entrepreneurs and movers and shakers out there in the world actually doing something. It doesn't mean all rich people are necessarily moral and noble all the time. So if you know one rich asshole it doesn't invalidate the general sentiment.

You're reading too much into the original article. It's a piece that uses a lot of generalities and gives no concrete advice. Nietzsche's moral philosophy has much more depth and can't be condensed into a few paragraphs.

Quote:19. Average people love to be comfortable. Rich people find comfort in uncertainty.

This is the only one that's Nietzschean... "live dangerously."
03-19-2013 09:55 PM
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kdolo Offline
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RE: 21 Ways Rich People Think Differently Than Average People
Not a single one got it through hard work alone. You gotta go drinking with their kids to get the real stories.
[/quote]


NOT TRUE.

Most got it through hard work - especially first generation rich - - in particular immigrants.

What the hell do the kids really know ?? most have no idea of the stress, pain, and discomfort that their parents suffered in order for them to have the luxury to go drinking - those kids are wusses compared to their folks who made the money - in particular if first generation rich.
03-19-2013 11:31 PM
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RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 09:55 PM)Vitriol Wrote:  You're reading too much into the original article. It's a piece that uses a lot of generalities and gives no concrete advice. Nietzsche's moral philosophy has much more depth and can't be condensed into a few paragraphs.

You're reading too much into my reply. The whole framing of middle class morality versus rich person morality is definitely Nietzschean. I'm not saying it is Nietzsche distilled down into pure form or anything...

I wouldn't say that On the Genealogy of Morals necessarily gives concrete advice, no? But I am not a Nietzsche scholar or anything.

I would say that the rich person morality compares to the master morality, and the prole morality compares to the slave morality.

(03-19-2013 09:55 PM)Vitriol Wrote:  This is the only one that's Nietzschean... "live dangerously."

These all invoke the master/slave morality dichotomy:
-Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.
-Average people think selfishness is a vice. Rich people think selfishness is a virtue.
-Average people see money through the eyes of emotion. Rich people think about money logically.
-Average people set low expectations so they're never disappointed. Rich people are up for the challenge.
-Average people love to be comfortable. Rich people find comfort in uncertainty.
03-20-2013 12:01 AM
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Basil Ransom Offline
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Post: #24
RE: 21 Ways Rich People Think Differently Than Average People
(03-19-2013 09:48 PM)TheRookie Wrote:  Slave morality is looking at the rich, the beautiful, the successful, and being jealous, and concluding that they are oppressing everybody else and got their illegitimately. In other words, envy. It is your beta schlub roommate saying that "you are just lucky to get girls, and I can't lose weight because of my genes, and I'm perfectly content with my life as it is thank you very much." The master morality is quitting the shitty job, trying new looks, adding language skills, traveling and figuring out how to get ahead and live comfortably.

This is sort of an ad hominem, feminine argument. "You're only saying rich people are thieves because you're jealous."

Some people are rich because they have delivered value, by offering products that people valued, like Henry Ford or Mark Zuckerberg. At the other extreme, you have people that have set up the system so that they get rich without really providing proportionate value.

Many rich people are rich because circumstances shield them from true, open competition. This is often because of government intervention, or industrial collusion in one form or another. Any industry or job position where barriers to entry are low, profits or wages are nothing to write home about. That's basic economic theory - where there is perfect competition, profits are small or non-existent in the long run. For practically any high paying profession, there are significant barriers to entry that aren't necessarily needed, and if removed would significantly reduce pay. And even for people like Zuckerberg or Ford, they weren't necessarily much better than their competition, but the nature of their markets was that only a few men would survive the competition, and they would emerge immensely rich.

More broadly, a lot of rich people are rich because they have some hustle that got them there, that doesn't necessarily provide great social value. I suppose you can respect them as great tacticians, but I wouldn't elect them as role models.

Here's an essay about what I'm getting at: http://intellectual-detox.com/2012/01/01...e-economy/

I'm just saying have a realistic view of how the value that rich people actually provide. I also have a personal bias, in that the people I've met most obsessed with money are inevitably the biggest tools obsessed with impressing other people.
(This post was last modified: 03-20-2013 12:35 AM by Basil Ransom.)
03-20-2013 12:34 AM
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RE: 21 Ways Rich People Think Differently Than Average People
A lot of people equate following their passion with getting paid for cliche hobbies. If you truly do anything you love purely for work, you WILL end up hating it. Passion in this instance refers to working for a cause you are passionate about. It does not directly relate to your job title/profession.

Let's all stop assuming the Investment Banker is not happy.

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03-20-2013 03:13 AM
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