The biggest difference between the rich (1%) and the poor or middle class (99%) is their mindset. Simply put – those who get rich have a completely different mentality than those who choose to stay poor.
Yes, I said “choose,” as if it were a choice. It is absolutely a choice to keep doing the same thing and expecting different results. It is also called insanity.
Debt and taxes
Take debt and taxes, for example. Poor people use credit to buy things they want and need, and they pay a large percentage of their income to the government in taxes. Rich people take out loans to buy things that will make them money, and they do whatever they can to avoid paying taxes (legally) at all costs.
“Debt and taxes make the rich richer. Debt and taxes make the poor and middle class poorer.”
~ Robert Kiyosaki
The reason the 1% (the rich) are getting richer and the 99% (the poor and middle class) are getting poorer is that when you print money two things happen; Inflation and Taxes. The 99% are being crushed by inflation and taxes. The 1% don’t have to worry about inflation or taxes because it doesn’t affect them.
My main takeaway from this interview with Robert Kiyosaki is his take on “the economy” versus “your economy.” Poor people are really good at blaming “the economy” when their financial situation takes a turn for the worst. Rich people don’t need to worry about “the economy” because they are busy with “their economy”! Watch the full video below for details…
Credits: Video and screenshots for featured image – Motiversity on YouTube
Rich dad poor dad
Get the book that explains it in full detail. This is easily my top-recommended book of all time on the money mindset and how to get rich.