What do rich people do?

Rich people sacrifice the present for the future. They invest time and money into their future. For example, they invest time and money into their education, their planning, their careers and their value. They spend their nights improving themselves, their careers and their businesses.

exectechweb.com - Seven Things Rich People Do that Poor People Do Not Do

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Seven Things Rich People Do That Poor People Do Not Do

To become a rich A-Performer, you must do things that rich people do, not what poor people do.

1. Rich people read books about succeeding.

Books contain a wealth of ideas for a tiny price, but you have to read and understand them.

Rich people constantly education themselves. The top America CEOs read 50 books on success per year. The average American reads 1.5 success books per year. How many do you read?

2. Rich people sacrifice the present for the future.

They invest time and money into their future. For example, they invest time and money into their education, their planning, their careers and their value. They spend their nights improving themselves, their careers and their businesses. They face their problems. Poor people like to take it easy and enjoy the present. They watch a lot of TV (entertainment, news and sports), socialize online and offline, play video games, party, travel, eat, drink and be merry. If it helps them to escape from their problems, they do it.

3. Rich people believe they are responsible for their own fate.

Over 85% of millionaires and billionaires are self-made. They did not inherit their money, steal their money nor win the lottery. They know they need to earn their wealth. When bad things happen, they learn. Poor people expect others will save them. They blame others for their problems. They wish and hope someone will come along to give them their wealth.

4. Rich people set financial goals.

For example, “Retire at 55 with no debt, a nice house and $1M in savings.” They then figure out how much they need to save, each year and each month, to reach their financial goal. Once they set their goals, they write them down and put them somewhere they see them each day. For example, a sticky note behind a bathroom mirror, on their home screens or in their wallets.

Poor people have no financial goals. They do not see the point.

5. Rich people focus on their health.

They exercise, read food labels and control their urges. They get yearly checkups and follow their doctor’s advice. They know good health means more energy and a longer, happier life. Poor people eat unhealthy food. They hate doctors. They ruin their bodies with sugar, salt and fat.

6. Rich people spend time with successful people.

They love to learn what other rich people have learned and are happy to share their own lessons. If you hang around successful people, you get inspired and motivated. Poor people surround themselves with other poor people. Poor people reinforce their bad beliefs.

7. Rich people use their credit wisely.

When they use credit, they buy things that pay off in the long term, like their education, their new businesses and their long-term improvements. They only buy useless things with their extra cash. Poor people use credit to buy expensive phones, clothes, tickets, travel, expensive gifts and so on. Bonus tip: Become an A-Performer and earn more than average. Click here to learn more and see how you score with the 25 A-Performer Qualities.

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What considered wealthy?

ent.com - How much to be wealthy | Average net worth - Ent Credit Union

What does it mean to be wealthy? To some, wealth may be a quantifiable number like a person’s net worth or income. To others, wealth may relate more to their values. Being wealthy may mean less about the dollars and cents and more about a person’s freedom and opportunity to pursue the things that they value in life. Whatever your definition of wealth may be, it’s usually related to money in some way. To be wealthy, you need to have enough money so that you’re not living paycheck to paycheck. You should be able to cover your living expenses and financial obligations, plan for the future and spend on the things you value.

So how much money is enough? How much do you need in your bank account to be considered wealthy?

According to the 2022 Modern Wealth Survey conducted by Charles Schwab, the average net worth of an American to be considered wealthy is $2.2 million. They also reported that to be it takes a net worth of $774,000 to be considered “financially comfortable.” In Colorado, it was surveyed that the average net worth of a wealthy person in Denver is $2.3 million, while it takes a net worth of $671,000 to be considered “financially comfortable.” This number may change depending on where you live in the state and what the local cost of living is.

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