Millionaires vs. the middle class
I haven’t read the book “The Top 10 Distinctions Between Millionaires and The Middle Class” but just from the table of contents, I can already get the gist. Here’s how I think I stack up:
Distinction 10:
Millionaires think long-term.
The middle class thinks short-term.
[I'm the guy with the 10-year plan. Sure I care about the short-term; it would be irresponsible not to be, but I always have my eye on the big picture and the future.]
Distinction 9:
Millionaires talk about ideas.
The middle class talks about things and other people.
[I always talk about ideas. I am known as the guy with the ideas.]
Distinction 8:
Millionaires embrace change.
The middle class is threatened by change.
[With several career changes, I know and am open to change. It's not that I'm not scared by it; it's just that I'm used to it.]
Distinction 7:
Millionaires take calculated risks.
The middle class is afraid to take risks.
[In terms of career decisions, I'm a dare-devil. In terms of investing, I'm a moderate risk-taker. In terms of business, I'm a little risk-averse.]
Distinction 6:
Millionaires continually learn and grow.
The middle class thinks learning ended with school.
[I love learning. It's one of my passions.]
Distinction 5:
Millionaires work for profits.
The middle class works for wages.
[Somehow, I'm able to marry the two with monthly retainers and regular fees as well as profit sharing and business income.]
Distinction 4:
Millionaires believe they must be generous.
The middle class believes it can’t afford to give.
[I give generously to things we believe matter and when there's a real need. But admittedly, we can't yet give as generously as we hope to.]
Distinction 3:
Millionaires have multiple sources of income.
The middle class has only one or two.
[I have at least five.]
Distinction 2:
Millionaires focuses on increasing their net worth.
The middle class focuses on increasing its paychecks.
[I think income is important, but I agree that net worth is more important. Let me clarify that: a net worth that is made up of income-producing and price-appreciating assets is to me the ideal.]
Distinction 1:
Millionaires ask themselves empowering questions.
The middle class ask themselves disempowering questions.
[I have self-doubts, sure, but I do cling on to empowering beliefs.]
Looks like I have a millionaire mindset (and yes, I am a millionaire several times over in peso terms, but not yet in dollar terms). If there’s one thing I need to work on, it’s distinction 7. I need to take more risks in business.
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- Published:
- February 3, 2008 / 4:06 pm
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- Goals, Rich people
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