Saw this article and thought, right on!
Have you ever wondered how the super rich think?
We’re not talking about “The Millionaires Next Door” here … we’re talking Billionaires.
Do they believe in the “law of attraction”? Do they “follow their passion”?
Do they play nice? What are the rules of money at the billionaire level?
In the book, The Family Office: Advising The Financial Elite, Keith Bloomfield and Russ Prince, summarize the behaviours of the rich.
And you may not like what you’ll find here. And you may not agree with it.
| Rule | Millionaire Next Door | The Super-Rich |
| Commitment | Seek work/life balance, where money is only one piece of the equation | Creating wealth is regularly the top priority and overarching motivation |
| Self-Interest | Looking to make everyone “happy” or get a fair deal | Pursue only those activities that have significant probability of generating above-average financial returns |
| Line of Money |
Believe if they do what they love, the money will follow | Pursue only those activities that have significant probability of generating above-average financial returns |
| Connections | Network with a lot of people for social cultural and business purposes |
Build strong relationships with a handful of strategically valuable people |
| Payouts | Create rapport and look to help others | Ensure each party is duly compensated for his or her contribution |
| Failure | Failure is a major obstacle that can cause setbacks reassessments and new directions |
Failure is a learning experience and a motivator |
| Centered | Concentrate on overcoming weaknesses and becoming a well-rounded person |
Concentrate on their strengths and delegate everything else |
Source: The Family Office: Advising The Financial Elite
Interesting?
Many of us believe that the super rich have some “secret knowledge” of how to make money. They don’t. But their belief system and their habits are very different from the common millionaire. Something we’ve observed is that they tie all their actions to their goal of making money. All of them.
They don’t waste time on any meaningless (to them) social interaction. They don’t waste time trying get their peers to approve of them. And they don’t care to build a huge social network.
They’re habits fall in line with a lot of what is shared on the above chart.
Are they right or wrong? Ah, that’s for you to decide. We welcome you comments.
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