We all hear how easy it is for the rich and how effortless they seemed to have acquired their wealth. What most people don’t realise is that there are certain principles and rules that guide the rich in contrast to the less fortunate of us.
The first and probably most prominent characteristics of the rich, is how they handle themselves under pressure and setbacks.
First contributing factor of the rich becoming wealthier is Persistence.
The number one factor why the rich keep their wealth from generation to generation. They lack the sense of failure and giving up, this makes them even stronger and even richer because they learn from their mistakes.
The second contributing factor is Mental Capital.
Haven’t we all heard stories of the likes of Donald Trump going bankrupt and become indebted in millions and millions of dollars only to resurface even stronger! How is this achieved I here you ask? Well the rich have a firm belief of “mental capital” being the real capital in their life. They don’t need physical capital to create money, their ideas and their thought processes is what accumulates money.
Next follows Time Management.
The rich are very focused on what they do, and how they spend their time. They recognize that time is one of the Most precious commodities they have, so they spend it wisely and effectively. They keep themselves informed and learn new skills to stay Competitive. This is in contrast to what a lot of people believe about the rich, where the common misconception is that they don’t really do anything except play golf, go shopping and travelling around the world. I would say they do all that, but it’s a very calculated process. They are in control of there time, not the other way around.
And lastly Vocabulary.
The rich knows and understands that words are power and ultimately wealth. By having a rich vocabulary, they empower themselves with words that attract wealth. Examples of this might be financial terms like compounding, present value, internal rates of return etc. These words automatically put them in a higher standing with their stakeholders such as bank managers, investors etc. So essentially they are buying themselves credibility and good standing by using complex financial terms. They also empower themselves with using positive words like success, vitality, vibrant, healthy, unstoppable etc. These words act like a cycle of success and by using these words daily they establish a habitual pattern that I would call the “cycle of success”.
These are the core reasons I believe the rich get richer. And in most cases they communicate the same wisdom to their children and grandchildren in order to “preserve wealth”.
Imran writes on marketing and business related issues. You can learn more by visiting my blog, http://Online Marketing Systems