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17 Life Lessons We Can Learn From the Wealthy

17 Life Lessons We Can Learn From the Wealthy

People look at wealthy people with a variety of notions. They are seen as snobs, arrogant, that they believe they are better than everyone else, or even that they are trying to buy happiness. Of course, many of these notions have been long-standing ones and are held by people who have never known a wealthy person well enough to comment objectively.

Despite the gulf between you and the wealthy, one thing is certain. The wealthy have learned life lessons that have been gained from earning their wealth. These are life lessons that the rest of us have not experienced, but can learn from:

1. Wealthy people don’t start out pursuing wealth.

Rather, they pursue a passion. Henry Ford pursued his passion–a horseless carriage. Bill Gates, Steve Jobs, and Warren Buffett pursued their passions. The thing about passion is this: it drives people to move forward, to continue to push themselves, and to not surrender to failure or discouragement. The rest of us pursue income.

We take jobs that will provide paychecks that will allow us to live comfortably; we get raises and promotions, and our lifestyles improve. We spend more as we gain more income, and so we chase more income to spend more. The wealthy, on the other hand, began with a passion for something–investing, cars, computer technology–and they were willing to starve if it meant that they could pursue their passions.

2. Wealthy people enjoy being uncomfortable.

The rest of us want to be comfortable. Wealthy people are driven by uncertainty, and they are happy taking risks when they do not know the outcomes. Ordinary people tend not to take big risks and do not like it when they are out of their comfort zones. Self-made wealthy individuals, throughout our history, have been willing to take big risks.

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3. Wealthy people look toward the future with optimism about what lies ahead, even if it may be uncertain.

Regular people tend to see the “better” life as that which existed in the past. Life was simpler, the music was better, people didn’t live on their devices, and a real man went out and earned a good living for his family. These people look upon the future with some pessimism, often claiming that the world is just “falling apart.” When people don’t look toward a brighter future, they become stagnate and have no big dreams. Wealthy people tend to be more optimistic, and move forward to make a better future.

4. Wealthy people have a Big Plan.

Ordinary people have goals and plans that relate to where they want to go in life, what they want for their kids, and even how they want to spend their retirements. Wealthy people, however, have big plans that do not involve their personal lives. They have plans that will change something in a big way. They want to make the world a better place with their Big Plan.

5. Wealthy people stay confident.

They have developed this confidence in a number of ways, not the least of which is experiencing failure. They fail, they learn from it, and they forge ahead. They cultivate self-assurance because they know this attribute is a great part of the “battle” on the road to wealth.

Regular people lack self-confidence when they are out of their comfort zones, and failure can injure or destroy their self-assurance. As wealthy people succeed, their confidence grows. Regular people who succeed get better jobs and higher income, but those things don’t increase self-confidence. Taking risks and ultimately triumphing, even after many failures, builds their self-confidence. Ultimately, they develop an attitude that there is nothing they cannot accomplish. Henry Ford summed it up when he said, “Whether you think that you can or you can’t, you are usually right.”

6. Wealthy people are careful with friendships.

Once wealth is achieved, old acquaintances and remote relatives will begin to appear in the lives of the rich. Their goals are pretty transparent–to get a piece of the wealth that has been accumulated. When their requests for loans and/or money are denied, they become hateful. Ken Fisher, billionaire owner of Fisher Investments said, “You see an ugly side of our human existence, which is the world of false pretenses seeking your money.”

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7. Wealthy people know the older you get, the less value money has.

As the wealthy age, their desires are for a simpler life, for health, and for more quality time. They spend less on themselves and more on others. This is perhaps a life lesson that all people to ultimately learn. Even the average person who was never wealthy, values these things in their elder years.

8. Wealthy people secure everything.

If you buy cheaply, you pay dearly. Those are words wealthy people swear by. While earlier generations of wealthy individuals secured everything in fire-proofed, locked files, today’s wealthy understand the value of having their important personal and financial information securely stored by a featured data storage company. Top notch protection and security for their valuable data is a high priority. They prefer to invest in security in advance, rather then going into huge debt when things unexpectedly go wrong.

9. Wealthy people know that wealth frees your brain.

Wealthy people can dream big; they can envision things that may or may not be possible, but they have these big ideas that they can pursue. Ordinary people, on the other hand, cannot free their brains for the big ideas. They are too mentally consumed with how to make a living, how to support themselves and their families, and when they will be able to afford a new car.

10. Wealthy people know accumulating wealth requires self-discipline.

This is especially true during the accumulation phase. They live below their means, wear inexpensive clothing, and do not own new cars and the best home that their income may allow. They know that to become wealthy they must save and invest while they follow their passions. Regular people want to buy things as soon as their income permits, because they have a desire or need to impress others with what they can afford to purchase. They do not save and invest, and rely instead on their retirement funds and social security to keep them comfortable in their old age.

11. Wealthy people do not fear failure.

They know they may fail, and they know they could lose all of their money on a failed venture. They also know that the next venture is around the corner, and it could be the very one that satisfies their passion and makes them wealthy, too! Ordinary people have a fear of striking out. They fear not having enough money; they fear losing their steady income from their job. People who live is such fear will never accumulate wealth. Most of all, however, they fear failure, because it will bring about all of the other things they fear.

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12. Wealth helps you find more freedom.

Wealthy people are not tied to jobs and debt. If they get ill, they can afford the best doctors. If they have legal troubles, they can afford the best lawyers. If they want to “winter” on the Riviera, they can do it. The average individual is controlled by his boss, by his government, by his debt, and by his need for security. Once you stop caring about all the possible restrictions, change your mindset and start looking and creating possibilities for yourself, rather then just going with the flow. You are able to achieve the same freedom and some extra money along the way. Change your perspective. Stop thinking about how miserable and unfortunate you are and start thinking of ways you can change. For instance, if your student debt is high, consider teaching English in South Korea or Taiwan. The money you’ll earn will let you pay off your deb by the end on the year, plus generate some extra savings to blow up traveling or starting your own business.

13. Wealthy people tend to make friends with even more wealthy and successful people

Why? Because these are the people with whom they not only have common interests, but as well can learn. While they are often criticized for this, in fact, they are just like every other human in this regard. People who like to hunt and fish hang out with others who like to hunt and fish; people who love sports will hang with others who do. Somehow, it is normal and acceptable for average people to do this, but not for the wealthy. It makes them “snobbish” and “arrogant.” When, really, they are just seeking out people with whom they share something in common.

The one simple, yet often overlooked key to success and wealth is to meet and make friends with people who inspire you and whom you’d like to take after. Become friends with the wealthy, smart and successful if you’d like to become one too!

14. Wealthy people understand the difference between assets and income.

It is the goal of someone seeking wealth to accumulate assets, not income. And once those assets are substantial, the wealthy live off of the income from those assets. Regular people strive to accumulate higher income, not assets. Thus they work until they retire, dependent upon that income. For the wealthy, assets, once accumulated, do the work of bringing in income.

15. The desire for wealth is finite.

As a poor person, you probably think – no way! Yet the wealthy reach a point at which they realize that there really is nothing more to buy to make them happier. How many cars, how many vacation homes, and how many airplanes does one need? At this point, time becomes the most valuable possession. Steve Jobs summed it up like this, “My favorite things in life don’t cost any money. It’s really clear that the most precious resource we all have is time.” Never forget that no matter how many dollars you have on your bank account.

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16. Family are not people who love you unconditionally.

Relatives of the wealthy family member often feel that they share the wealth with family members, especially when they are experiencing some financial difficulties. If the wealthy individual does share, it will never be enough. In all of their asking for money, moreover, none of these relatives will ask for investment or asset-building advice. Once you accumulate certain wealth, you quickly realize that not all of your family loves and keeps in touch with you because you are a great person. Some do it just for possible financial gain. Wealthy people know that family does not have to be just about those related by blood or marriage. Family can be those that are there for you, not for your money.

17. Wealthy parents teach their children about finances early

Children of the very wealthy, at least those who are self-made, have spent their early lives not being wealthy. They have thus had the early values training that came before the wealth did. Grandchildren are quite another matter. They have been born into wealth and can easily develop a sense of entitlement and superiority. However, those that became wealthy can be more vigilant in teaching their children how to save, invest, and appreciate hard work.

Featured photo credit: Fashion Male With Vest, Cigar And Smartphone/Ed Gregory via flickr.com

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Elena Prokopets

Elena is a passionate blogger who shares about lifestyle tips on Lifehack.

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Last Updated on September 30, 2020

How to Live a Stress Free Life in a Way Most People Don’t

How to Live a Stress Free Life in a Way Most People Don’t

Learning how to live a stress free life may seem impossible, but the truth is that there are specific things you can do to begin eliminating sources of stress.

No, it doesn’t look like a made-for-television movie. No, it doesn’t look like something only people with extra time and money can do. It looks like your life—but without any self-created stress triggers.

Here are 11 ways to help you live a stress-free life:

1. Stop Overanalyzing Situations That Haven’t Happened

The first step to living a stress-free life is to stop overanalyzing imaginary scenarios. It’s easy to spend time in the world of worst-case scenarios. People tend to cultivate this world for one of two reasons.

First, because if you know what the worst-case scenario is, then it won’t surprise you when it happens. Second, if you know what the worst-case scenario is, then you can do everything in your power to control the universe so the worst case never happens.

If that’s really the world you want to cultivate, then become a professional risk assessor. If not, then ask yourself how you are benefiting from continuing to live that way.

Does it make you feel better about yourself and your life? Does it make you want to leap out of bed in the morning, eager to embrace the worst-case scenario? Does it bring you joy or fulfillment?

If your answer to these three questions is no, then stop living in the future and bring yourself back into the present.

2. Don’t Take on Other People’s Problems

The whole advantage of other people having problems is that they aren’t your problems. When you frequently take on other people’s problems, you get into the habit of enabling.

Let’s get crystal clear about the definition of enabling: enabling is the art of continuing to take responsibility for other people, thereby disallowing their personal responsibility[1].

It is of no service to other people to take on their problems because they can’t/won’t/don’t know how to fix the problem.

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It is of service to empower others to take responsibility for themselves and their lives, to encourage, teach, and motivate others to address their own problems. So stop enabling, and start empowering.

3. Get Present in the Moment

Being present in the moment involves being in your body and feeling your feelings—two things that lots of folks actually don’t know how to do.

Ask yourself these two questions: What does fear feel like in your body? What are you afraid of?

If you don’t know the answer to these questions, you probably aren’t present in the moment. Being present involves vulnerability, humility, and openness[2].

How to live a stress free life by being present

    The past and the future stop being so relevant and intriguing when you’re able to get in your body and feel your feelings. When you can do these two things, you actually want to be in the present moment.

    To get started, close your eyes, focus on your breathing, and watch your stress levels drop. Then, try these tips: How to Live in the Moment and Stop Worrying.

    4. Focus on What You Have, Not What You Don’t

    The easiest way to stop focusing on what you don’t have is by not watching TV commercials. Marketing teaches us to focus on what we don’t have, and advertising campaigns spend millions of dollars convincing us that we must have what we don’t yet have.

    Can you think of a marketing campaign that teaches you to enjoy what you already have without buying something to enhance it? Odds are you can’t.

    In a world dictated by Super Bowl commercials and Facebook ads, it takes stalwart focus to recognize what you have more than what you don’t. If you want a stress-free life now, get stalwart, and stop letting other people dictate your focus.

    In order to do this, try cultivating a gratitude practice to help refocus your mind toward what is good in your life. You can get started with this guide.

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    5. Stop Surrounding Yourself With People Who Don’t Make You Happy

    Honestly, what kind of people do you really like to be around with? People who get you, who see you clearly, who accept your flaws and all; people you can be yourself with; people who have shared interests?

    How many of those people are in your life? What characteristics do all of the other people in your life have?

    If you find that the people in your life aren’t adding anything positive, it may be time to make some changes. If you find that other relationships you have are downright toxic, start working to cut out those relationships immediately.

    6. Find a Job That Makes You Feel Good

    You don’t have to stay at a job just because it pays the bills. Most people spend more time working than sleeping. The average person spends 40 to 80 hours a week—or 2,000 to 4,000 hours a year—working. That is a significant investment!

    If your best friend or child told you that they were going to spend 4,000 hours giving their emotional, mental, and physical energy to something (or someone) that wasn’t going to value them, give anything back to them, or pay them what they were worth, what advice would you offer? Give that same advice to yourself. You won’t be stress-free unless you don’t learn this[3].

    Here’re 11 Signs That You Should Leave Your Job.

    7. Only Take on What You Can Handle

    Busyness is an addiction. Slowing down can actually be terrifying because it causes you to notice that you have feelings that you now have time to feel.

    I get it.

    By the time I slowed down, I had decades of busyness under my belt. I went into a tailspin depression because I didn’t understand how to be in the right relationship with my own emotions.

    When I finally figured out that feelings are just feelings and allowing them to express themselves is healthy and natural, I stopped experiencing withdrawal from my addiction to busyness and started figuring out the pace of life that felt best for me.

    Remarkably, I discovered that I don’t actually like being busy. What will you discover about yourself?

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    8. Let Go of Grudges and Anger

    For me, it took 20 years of adulthood to figure out that holding on to grudges and anger only hurt me. Lucky for you, though, you can benefit vicariously from my experience just by reading one short paragraph!

    No one is holding your feet to the fire, demanding that you hold on to grudges and anger. The energy of anger slowly eats away at your body, mind, and spirit, until one day you wake up more resentful than optimistic.

    One day, people no longer want to be around you because the stink of negativity is oozing out of your pores. One day, you even get tired of hearing yourself get angry. And the person or people you are angry at or holding grudges against probably haven’t been affected at all.

    Who gets hurt the most in that process of repeating negative thoughts? You do.

    Some good advice for you here: How to Let Go of Resentment and Anger

    9. Stop Reliving Your Past

    To live a stress-free life, you have to stop reliving your past. I know it seems like fun to compare everything in your present to your past, and to experience the present through past-colored glasses, but it actually isn’t.

    When you wear past-colored glasses, you can’t truly experience the present for what it is. Your boyfriend or girlfriend gets compared to a list of expectations and failed relationships rather than recognized for the unique blessing they are in your life.

    Your boss gets compared to all the bosses who came before her/him. Your friends’ ability to parent gets compared to your parents’ ability to parent.

    People, including you, deserve to stand on their own past-free merit.

    10. Don’t Complain About Things You Can’t Change

    There are always going to be people elected into office whom you don’t like, taxes that you don’t want to pay, idiot drivers who refuse to move out of the left-hand lane, and a person ahead of you in the check-out line who won’t stop chatting with the clerk.

    The great benefit of being human is that we get to experience all of what life offers us. To live stress-free is to learn to deal with this fact.

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    Dwelling on your frustration with something that can’t be changed doesn’t do anything other than drag you down. You are the only person who will ultimately decide how to respond to what is.

    11. Stop Living Through Other People’s Lives

    Someone else’s life is not your life. Your life is your life.

    What that means is you get to live your life in the way you want. You get to make ridiculous mistakes, take leaps of faith, and stuff things inside your handbag of fear just as much as the next person.

    Going through stuff is the whole great messy adventure of being human! Being alive and living life is terrifying and glorious and everything in between.

    Stop living through social media, trying to soak in all of the experiences everyone else is having. Focus, instead, on what it feels like to be you in this moment. You may find you like it.

    Final Thoughts

    An astounding thing happens when you reduce stress and anxiety, get into a relationship with your body, mind, and spirit, and just be yourself without judgment.

    Your life literally slows down. You stop wishing for the weekend. You begin to live in each moment, and you start feeling like a human being. You just ride the wave that is life, with this feeling of contentment and joy.

    You move fluidly, steadily, calmly, and gratefully. A veil is lifted, and a whole new perspective is born through improved mental health. And this is how you live a stress-free life.

    More Tips on How to Live a Stress-Free Life

    Featured photo credit: Drew Coffman via unsplash.com

    Reference

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