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I became interested in Steve Siebold’s new book, How Rich People Think, as soon as I heard its name. Books about what to DO to become wealthy are commonplace, but books about how to THINK about wealth are both rare and critically important.
Perhaps that’s why some of the best books about wealth ever written – like Think and Grow Rich and The Richest Man in Babylon – center around how rich people think, not the nitty-gritty of what they do.
Siebold’s book is structured as 100 short chapters, each about two pages long, which makes it easy to read in small bites. You don’t need to read it in a linear fashion; feel free to skip around.
So how do rich people think? Here are some of Siebold’s examples:
The middle class sees money through the eyes of emotion. The world class sees money through the eyes of logic.
“Most people never accumulate much money due to a series of self-limiting beliefs … fueled by negative emotion.”
The middle class plays it safe. The world class takes calculated risks.
“One group stays awake worrying about losing what they have, while the other can’t sleep because they’re dreaming of what’s possible.”
The middle class believes building wealth is a solitary effort. The world class believes it’s a team effort.
“The average person … (is) paid for the result of their individual effort … The rich see themselves as team leaders.”
The middle class believes ambition is a sin. The world class believes ambition is a virtue.
“Remove the profit motive from the equation, and you take away the incentive for world-class thinkers to direct their mental energy towards (solving) major challenges in society … the average person knows this, but labeling the rich as sinners … absolves them from having to make the effort to become wealthy.”
The middle class believes they must choose between a great family life or being rich. The world class knows you can have it all.
“Figure out how to be more efficient with your time, so you have plenty to spend.”
The middle class sets their financial expectations low so they’re never disappointed. The world class sets their financial expectations high so they’re always excited.
“No one would ever strike it rich and live their dreams without huge expectations. Ancient wisdom says you get what you expect.”
Should I Read It?
Afford Anything readers already know these ideas. You know that aspiring to be wealthy is a virtue. You know that you should set huge expectations, and reach for them again and again, until you get them. If you didn’t know that, you wouldn’t be reading this site.
But unless you’re very fortunate, you’ll encounter people daily who question those beliefs. People will tell you that you’re crazy for doing what you do, for taking the calculated risks that you take, and for holding the values that you have.
This book, in my opinion, can serve as reminder during those tough times. It can help you stick to your ideals when the people around you question or criticize your decisions and goals.
This Book is For You If: You want a big-picture reminder about developing a wealthy worldview.
This Book is NOT For You If: You’re looking for specific, how-to instructions about executing a course of action (e.g., “How to start a business” or “How to invest in real estate.”)
Check out more reviews of How Rich People Think here.