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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 March 25, 2020

How to Crush Your Lack of Motivation and Always Stay Motivated

How to Crush Your Lack of Motivation and Always Stay Motivated

How many times have you not achieved your goals and let yourself down due to your lack of motivation? When you’re not wallowing in sadness and self-pity, you are too busy procrastinating till you can’t anymore and before you know it, you are part of vicious cycle of anxiety and stress.

Whether it’s losing weight or bringing your business to fruition – motivation is essential for growth and success in every sphere of our lives.

That said, it is not easy staying motivated. In order to constantly stay motivated, you need to take ownership of your life and consciously make efforts in that direction.

Well, it’s never too late to take matters in your hands and change the course of your life. Here are 11 effective ways to crush your lack of motivation and always stay motivated:

1. Write Your Goals

The power of writing goals down has always been underestimated. Why write when you can remember, right? Wrong.

Our thoughts are all over the place and the first step to achieve your goals is to organize your thoughts. So, write your goals down, however big or small they might be. Make them as specific as possible and assign deadlines to each of them.

As you write them down and revisit them regularly, they get further drilled in your head, taking you closer to your goals. Doing this small exercise helps you to remain focused, motivated and lets you track your progress with ease.

Start today – take to your laptop or a diary and get down to writing what you wish to achieve in life.

2. Beat Procrastination

Your lack of motivation and procrastination go hand in hand. Every time you procrastinate, your motivation levels take a greater hit. The only way to bring an end to this loop is to stop procrastinating.

Next time you find yourself putting off something for ‘later’, stop and assess the reasons behind it. Get to the root of the cause and eliminate it in order to overcome this poor habit of procrastinating which is sabotaging your life and mental health.

Take a look at this guide and learn how to beat procrastination:

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What Is Procrastination (And the Complete Guide to Stop Procrastinating)

When you finally overcome procrastination, you will realize the positive impact it has on your mood and motivation levels.

3. Celebrate Small Wins

In the quest to achieve the bigger goals in life, we often forget to celebrate the smaller wins along the way. An achievement is an achievement – be it big or small, it deserves to be acknowledged and celebrated.

Finished a project on time? Reward yourself. Managed to run on the treadmill for a good one hour? Pat yourself on the back. Found time to meditate? Celebrate it.

It is these small achievements that reinstate that we are on the right path and take us one step closer to the bigger goals.

So, get into the habit of recognizing and appreciating small wins. You will be surprised to see how this practice helps you stay motivated.

4. Practice Gratitude

It’s easier to whine about what we don’t have rather than counting our blessings. Isn’t it?

Making gratefulness a part of your life is a very important step to retain high motivational levels. It revitalizes our spirits and renews our enthusiasm for life.

So, how do you practice gratitude? For starters, keep a gratitude journal to jot down what you are grateful for, express your gratitude to people you love and spread positivity wherever you go. If you need some inspiration to be thankful for, here it is:

60 Things To Be Thankful For In Life

By doing so, you begin to focus more on what you have rather than what you don’t and that is a great start to stay motivated.

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5. Be Optimistic

Life is not always hunky dory. There will be bad days when things aren’t going in your favor, when you feel lost and all you want to do is give up.

At such times, instead of letting negativity take over your life, adopt an optimistic approach to life. Quit overthinking, ask the right questions and focus on finding solutions.

Yes, there will be hurdles along the way but if you hang on to positive affirmations and hopes, the journey will be a lot smoother. So, with every passing day, sow the seeds of positivity and you are sure to build a positive environment around you.

6. Don’t Dwell on the Past

A lot of times, our lack of motivation stems from the habit of dwelling on the past. This gives rise to fear and regrets, preventing us from making progress in the present day.

Dwelling on the past is nothing but a waste of time. Understand that the past is long gone, and you cannot do anything to change that.

What you can do is make your present day worthwhile. Instead of looking back and having regrets, learn from your mistakes, forgive yourself and move on.

So, the next time you find your mind wandering off to the past, be determined to change the way you think and consciously concentrate on living in the present. This guide can help you:

10 Simple Steps To Let Go Of The Past

7. Face your Fears

You can never find motivation where there is fear. Identify the fear that is pulling you back and tackle it.

If you don’t face your fear head on, you cannot expect to conquer it and renew your motivation.

Ask yourself: What is stopping you? What are you scared of?

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Once you accept your fear, you can work on an action plan and think of solutions to overcome it. This article will give you some effective tips on conquering your fears:

How to Overcome Your Irrational Fears (That Stop You from Succeeding)

Seek external help if required but don’t choose to turn a blind eye over your fears – it will only aggravate matters.

8. Visualize your Success

You must have heard the famous quote, ‘see it to believe it’. That is exactly what visualization is about.

One of the most effective self-motivation techniques, visualizing the process to your desired outcome helps you move in a positive direction and achieve your goal.

Close your eyes and focus all your energies on the minutest of details that will take you where you want to reach. Doing this exercise everyday inspires you to keep going and not lose hope. The vision of attaining success will drive you to do better while instilling belief and confidence.

9. Find Inspiration

Can’t seem to find inspiration inwards? Don’t panic. There are plenty of external sources to gain inspiration from.

From motivational books and quotes to speeches, films and apps – it is a good idea to take help from motivational material to rekindle your spirits and regain your motivation.

Everyone is wired differently. For instance, a self-help book might work for your friend, but it might do nothing to move you. So, find what inspires you and turn to it when you are in desperate need for motivation.

Finding inspiration externally fills you with hope and sometimes that is all you need.

10. Enjoy Downtime

You are clearly exhausted with all the running you’re doing in life. So much, that you don’t even have time to stop and think what’s causing you so much unhappiness. All you know is that you are lacking motivation and everyday seems to have become a struggle.

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Now, that’s certainly not how you should live the rest of your life.

You need to schedule downtime for yourself, relax and give your mind and body some rest. Take a vacation, indulge in hobbies, meet some friends, put your hair down and stop with all the overthinking. It is important to do things that make you happy in order to think clearly and stay motivated.

11. Meditate Regularly

Meditation lets you take control of your mind. It improves focus and concentration while helping you relax.

Whenever you have had a tough day or find your thoughts going places, the best way to calm yourself down is by closing your eyes and meditating. It helps you to remove all the unnecessary frills in life and keeps you on the right track.

Include meditation in your daily schedule and you are sure to see an improvement in your productivity and motivation.

The Bottom Line

Practicing these simple exercises isn’t the tough part, what’s tough is religiously doing them every day.

However, don’t expect to get rid of your lack of motivation overnight. There will still be days when you will be low on energy but by making these conscious efforts to stay motivated, you are sure to see a vast change in your perspective and your response to bad days.

So, start today and be committed to making a positive change in your life.

More Tips About Staying Motivated

Featured photo credit: Sonnie Hiles via unsplash.com

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