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2 mindsets of building wealth

2 mindsets of building wealth

  • Spending mindset: People who stay poor or middle class see money as something to be spent.
  • Investing mindset: People who become rich see money as something to be invested.

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Goals sound much sexier in our head than habits

  • Goals: there’s a clear image of a certain result in our head and that gets us more excited in the moment;
  • Habits: are long-term and repetitive - they seem boring. And there’s no clear image one can imagine for “going to the gym every morning fo...

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Keystone habits

Keystone habits

Some habits make other positive habits much easier to acquire as well. ad once adopted, will reverberate into other areas of your life. These are sometimes referred to as “keystone habits.” 

1.31K

3.65K reads

6 Fundamental Daily Habits

6 Fundamental Daily Habits

1. Exercise: benefits for mental and physical health.

2. Cooking: benefits in controlling what and when you eat.

3. Meditation: increased focus, improved self-awareness, better mental health.

4.Reading: benefits in interpersonal relationships.

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People rely too much on self-discipline

People rely too much on self-discipline

 ....and eschew forming useful habits. Instead, they set unrealistic drastic goals that and then become frustrated when they make little to no progress towards them. 

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5.65K reads

Goals mindset vs. Habits mindset

  • Goals are a one-time bargain. They are the spending mindset. 
  • Habits are an investing mindset. Habits require one to invest one’s efforts for a little while and then take the rewards of that effort and re-invest them in a greater effort to form even better ha...

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lolaf

"You have to go broke three times to learn how to make a living." ~ Casey Stengel

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True Wealth Is What You Don’t See

True Wealth Is What You Don’t See

Spending money to show people how much money you have is the fastest way to have less money.

We tend to judge wealth by what we see because that’s the information we have in front of us. But the truth is that wealth is what you don’t see. Rich is a current income. Nice cars...

Wealth Inequality

If you just want to have a comfortable life, it is increasingly out of reach. If you earn the minimum wage of $7.25 an hour, you can't afford a two-bedroom apartment anywhere in the US. In 1963, wealthy families had $6 for every $1 of families in the middle. By 2016, it was $12 t...

Mindsets

Some people tend to see their abilities as fixed, that you either have a talent for something or you don't. Others have a growth mindset where they believe that abilities can change over time.

These mindsets determine how we face challenges: We either give up when ...

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