This Is What Separates The Poor, Middle Class And The Rich (Not That Different)

This Is What Separates The Poor, Middle Class And The Rich (Not That Different)

When it comes to money mindset and spending habits, the wealthy have a distinct approach that helps them maintain and increase their wealth while still indulging in life's luxuries. And here's the good news: you can adopt this mindset too so you can become wealthier while also spending money on fun experiences, buying cool stuff and earning money from various income streams. On the other hand, the poor and middle class have their own set of behaviors and beliefs but surprisingly, the three aren’t all that different from each other.

[PaulKatrina.]

At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.

[sarawilliam]

For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

[kaitlyncranwick]

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favorable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich

[austinbar]

Nice content! Few years back I was assistant to a wealthy pen artist and within the short period I worked with him I observed that he had quite a chunk of investment everywhere, stocks, crypto, dividend investing to name a few, so he had revenues coming in from all angles. And in a year his worth doubled. With this I learned that the rich stay rich by investing.

[wwalter-yy]

From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

[fred]

My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.

[fudogwhisperer]

The amount of money people spend at Starbucks for coffee is insane. I can make the same at home for pennies. I've never understood it.

[dorinatudisco]

It’s about mentality around money and spending and less about how much you earn. Research on millionaires shows that few inherited the money or are celebrities. The vast majority are average people who saved and invested versus spending to impress. One of the top 5 occupations of millionaires is a teacher.

[dawnsstar]

I went from a middle class family, to poor after divorce, to higher middle class. Life happens.
So getting poor was not due to a bags of potato chips and a soda impulse buys. I knew d well not to get into that. But what got me out of that hole was making my own curtains, never eating out except for special occasions, making home made food, and the I was about 35 when things started changing for me.
I am almost retired now, and raised those three kids by myself, and truly, I think I'll be fine.

[appollo]

You forgot to say that a lot of Rich people start off with money or get a job that give them more capital to work it.

[Roadrunner]

Money isn’t number problem, it’s YOU problem

[friedec]

This mindset is good.
But only having a mindset is impossible.
You need good income too.

[damnthegrifters]

The more you have (material things) the more you need.

[scott]

auto saving and paying additional money towards your mortgage principal are the keys to financial success

[anthonybanker]

In the west the middle class is the class that has to work the poor and the rich doesn't have work. If you think your poor but you can't get on the dole or welfare then you're middle class the rich has assets that makes them money automatically/passively especially in larger sums. The poor got money coming in automatically from the middle class in taxes.

[damnthegrifters]

To be happy, you must have discipline. Choose a good partner and never impulse buy.

[philipgreenwood]

Nice video but definitely USA
This should be poor, middle and high income.
Class does not equal income and wealth
The UK can have rich working class, and extremely poor upper class

Eg a footballer who comes from a poor background earns £200k a week will NEVER be upper class.
Same for Lord Snot in his 100 room castle, with loads of land. He earns peanuts but will always be upper class

[trenthorton]

Anyone in the top quintile of household income (~$155k/year+) can become rich after 10-20 years of good financial decision making. People earning less can still become wealthy, but it takes longer and requires more frugality.

[nicholastracy]

Borrowing money on a project like rehabbing a home to flip or rent out, imo, is a good choice. The debt is self liquidating. Borrowing the same amount to purchase a Breguet Marine GMT in rose gold may not be a good idea.

[mrallan]

You want to eventually be "rich" should target 25%-33% of saving & investing your gross income. If you think that's not achievable, then get a job that can make it work (pays more). Spoiler, most of the high paying jobs are not fun, requires long hours, and stressful.