Ten distinctions between millionaires and middle class book review
Hey Sparkles! Happy Friday! For today’s Family Friday blog post, I am writing a book review about the book Top 10 Distinctions Between Millionaires and Middle-Class. Just for you, I am giving you the Sparkler’s notes version.
10. Millionaires think long-term. The middle class thinks short-term.
- Stretch your thinking further into the future
- Patience is an asset in the life of millionaires. Impatience is a liability in the life of the middle class.
- Think long-term in every area of life.
- When you reach the end of your life, it is the relationships you have developed that make you truly rich.
- Every area of life is connected, and thinking long-term in each area will improve every area.
- This is a secret of many millionaires: they do what they love to do to make money.
- Set more long-term goals
9. Millionaires talk about ideas. The middle class talks about things and other people.
- “There are three types of people, those who make things happen, those who watch things happen, and those who say what happened.”
- Stop criticizing, and start complimenting.
- Ideas are the most valuable asset in the world.
- Money is powerful, but ideas are even more powerful.
- Change your vocabulary.
- Stop complaining and start learning.
- The power of your words creates the experiences of your life.
- The next time you are tempted to complain, ask yourself, “What is life trying to teach me?”
8. Millionaires embrace change. The middle class is threatened by change.
- Learn to embrace change.
- Millionaires embrace change because they know it always brings an opportunity for growth.
- Choice versus wish
- See the opportunity in change
- Fear blinds you to opportunities.
- Change teaches us new things that we need to learn.
- Learn to fly
7. Millionaires take calculated risks. The middle class is afraid to take risks.
- If you take risk out of life, you take opportunity out of life.
- Use knowledge to overcome fear.
- Ask yourself three questions:
- What is the best thing that can happen?
- Do you know what the worst thing that can happen is?
- What is the most likely thing to happen?
- The fear of failure
- Failure is one of life’s many teachers.
- The fear of rejection
- You must want to succeed more than you want the acceptance of other people.
- The fear of loss
- The biggest gap in the world is between I did and I should
- Live like you were dying
- When you are at the end of your life, you will have more regrets from what you didn’t do than what you did
- Knowledge is light and fear is darkness
6. Millionaires continue learning and growing. The middle class thinks learning ended with school.
- Success is a process.
- The power of books and coaches.
- Invest in your financial education
- Millionaires are students of life.
- Knowledge is a seed.
- Study what you love.
- The secret to being a lifelong learner is to study what you love.
- Know your priorities.
5. Millionaires work for profits. The middle class works for wages.
- If you learn to earn profits, then the sky’s the limit.
4. Millionaires believe they must be generous. The middle class believes it can’t afford to give.
- Learn to be generous.
- It feels great when you give from the heart.
- Not all millionaires are generous, but the happy ones are!
3. Millionaires have multiple sources of income. The middle class only has one or two.
- The more sources of income you can develop, the more likely it is that you will become a millionaire.
- Passive income
- Build a team
- Practice intentional congruence
2. Millionaires focus on increasing their net worth. The middle class focuses on increasing its paychecks.
- Work smarter, not harder
- A millionaire’s definition of net worth
- Millionaires make their money work hard for them. The middle class works hard for its money.
- Turn your paycheck into passive income.
- Patience, knowledge, and wisdom are required to increase your net worth.
- Start a small business
- Millionaires do not increase their spending when their income increases, they increase their investing.
- Invest in real estate
- Remember, if you take risk out of life, you take opportunity out of life
- Net worth is not a nest egg
- Millionaires ask themselves empowering questions. Middle-class people ask themselves disempowering questions.
- Learn to ask yourself questions that stretch you beyond your current levels of experience.
- Questions control the way you feel
- The questions you ask yourself determine the results you get in your life.
- Conditioning your mind
- Asking yourself empowering questions is one of the best ways to condition your mind to create success.
- You gain control of your life by controlling your internal dialogue.
- Nine Empowering Questions:
- What kind of person do I want to be?
- Why do I want to be that kind of person?
- How can I become that kind of person?
- What do I want to do?
- Why do I want to do it?
- How can I do it?
- What do I want to have?
- Why do I want to have it?
- How can I create it?
Well, that’s all I have for you today, Sparkles! Remember, clarity is power. Millionaires know what they want. If you want to buy the book, you can do so here. Thanks for reading, and Sparkles away!