Learn From The Rich

I forgot about the CNBC show on what you can learn from the rich, here is what I got from the show:

1. Most of us have a shot at being millionaires – I would say everyone has a shot.


2. Last year the number of millionaires was up 21% to 7.5 million.


3. Study the habits of the rich, they earn and spend different than the not so rich.


4. Rich people give away more money away – can’t learn much about becoming rich from that, but it’s interesting.


5. Rich people own their own businesses – selling your time only makes a handful of people rich.


6. They borrow differently, they don’t have credit card or auto debt that costs you money, they have real estate debt which makes you money.


7. They don’t spend a lot on cars.


8. They have a lot of investments. Stocks, bonds.

That mostly what I got from the show.  I know a few rich people who after they became rich started spending money on their cars.

Other than that I would say the ideas they had were pretty accurate.

If you want to be rich you have to start thinking like rich people do.  That’s the first step, don’t try and invent everything yourself just learn from what other people are doing.