How To Develop A Wealthy Mindset: I believe that you can predict someone's financial future just by looking at them, if you know what to look for. In a recent video, I hosted a social experiment to see if I could predict the income of strangers based on a few simple questions. In the experiment I met an artist, a massage therapist, a content creator, a finance manager, a diversity consultant, and an e-commerce and marketing professional. If you want to see exactly how I did, I highly recommend watching the full video at the top of the page.
Even if you are not a millionaire yet, you can learn to think like one. If you want to be rich, you need to start to cultivate a rich mindset. There is a way that wealthy people think about things, that helped them become rich, and helps them stay rich. In this article, I will give you 3 tips on how to develop a wealthy mindset. Understanding these tips will put you on the right track for future wealth.
1. How To Develop A Wealthy Mindset: The Rich Pay A Lot Of Tax
Many people think that the rich should pay more tax. But the reality is that the rich already pay a lot in tax. Often, the rich pay a much higher tax rate than the poor. However, some argue that the rich pay a lower tax rate due to the way they make their money, capital gains vs. income, for example. This misses a key point, even where rich people have a more favourable tax rate, the actual amount paid is much higher.
A person with a wealthy mindset knows that everyone does better when the people that contribute the most to the pot remain in the country. People with a poor mindset, on the other hand, would prefer to drive them offshore with higher taxes!
2. How To Develop A Wealthy Mindset: The Rich Prefer Commission And Profit Share Over A High Salary
If you want to learn how to develop a wealthy mindset, you need to break out of selling your time for money. There are only so many hours in the day and, therefore, your earnings will always be limited if you are paid for your time. If you want to be rich, you need to be paid for your results.
The most obvious way to be paid for your results is to start a business. However, this isn’t the only way to do it. Another way is to have a job that has a commission, profit share or equity component to it. This allows you to go beyond being paid a salary, or by the hour, even before you are ready to go it alone!
3. How To Develop A Wealthy Mindset: The Rich Do Things For Free, Knowing They Will Pay Off Later
In this challenge, an artist explained that he had done a big job but wasn’t paid anything for it. This gave me a clue that he could be doing well. The rich are masters of delayed gratification. They are more than willing to take a loss now, if they know it will pay off for them in the future. Do things that provide you with the experience you need, or publicity that will push you into the spotlight, even if they don’t generate immediate cash-flow.
If you want to learn how to develop a wealthy mindset, think about the skills you need to learn and take jobs that will develop them. Don’t be afraid of working for free or cheap, if it is in service of a long term plan.
How To Develop A Wealthy Mindset: Property
Another way to learn how to develop a wealthy mindset is to invest in property! Come and learn from a property expert! Join me at my next £1 training event!
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
