middle class believe in hard work, the rich believe in leverage

Author : Corina Zhang Source : Release on : 2016-09-06 10:13:50

"It is much easier to put existing resources to better use than to develop resources where they do not exist."--George Soros

Hard work is a necessity. For all of us. If you want to reach the top (whatever that may be for you), you've got to put in the work. The problem is that hard work alone will rarely make you rich. You can't become rich by doing it all yourself. You have to use leverage to truly become rich and stay that way. Leverage works in many ways, from outsourcing to investing. The more leverage you can incorporate, the more time you will free up to work on the things that really matter in your business and your life. Some differences between the middle class and the rich are vast, while others may seem simple and minor. The fact is that if you want to become rich, you have to think like the rich and do the things the rich do.

The middle class live above their means, the rich live below

"There is no dignity quite so impressive, and no one independence quite so important, as living within your means."--Calvin Coolidge

You won't catch the average millionaire in a $100,000 car or a multi-million dollar home. The rich don't spend their money on depreciating liabilities, they spend their money on appreciating assets and they live below their means. On average, the rich drive cars that are a few years old and they don't buy them new, according to studies done in the book "The Millionaire Next Door." Even if they can "afford" that fancy new Escalade, they usually don't buy it. Remember, if you earn $1,000,000/year and you spend $1,000,000/year, you're still broke.