🤑How Rich People Think 🤔
🤑How Rich People Think 🤔
Beliefs before Wealth 💰
Welcome back to The Microdose Diet a newsletter about personal and professional growth using alternative medicines, such as microdosing psychedelics. 🍄
Before jumping on this topic I want to remind you of the definition of mindset: a set of beliefs that shape how you make sense of the world and yourself. It influences how you think, feel, and behave in any given situation. When referring to mindset then I include the emotional aspect, not just the mental as often implied when using the word MINDset.
I love to look into our relationship with money as so much of it is mental and emotional. Most of us associate our self-worth with our bank account and our value with our assets. A scarcity mindset is pretty much omni-present in our society, regardless of people’s real financial situation. I have seen people almost breaking in tears when telling me about the fear of poverty for their children… despite owning themselves assets well above 8 figures. I have also heard the mantra “Money is energy” repeated fervently by people who wanted more money so badly that it was almost palpable.
Regardless of where you are on the spectrum as always perception is reality. I have felt the discrepancy many times myself between what my investment accounts said and how I felt and thought. On one hand it is difficult to have an abundance mindset when financial obligations accumulate faster than income. On the other hand, when one was raised with a scarcity mindset they will tend to keep (and nurture) this fearful approach to money, regardless of their actual financial situation.
So it leaves society at large with this fearful, worried, panicked even, mindset when it comes to money. As always there is a spectrum to this mental model, but overall rarely have I ever met people with true “rich mindset”. Which is why I picked up Steve Siebold “How rich people think” book. I was curious to read what differences he witnessed after hundreds of interviews between the two groups he named, middle class and world class. I found the term “middle class” deceptive as many people who have this scarcity mindset are definitely not financially middle class, but they do have some patterns of thoughts that you might qualify as average (or middle class). When it comes to “world class” the author doesn’t just refer to the amount of wealth one owns, but also to the origin of wealth (self-made) and to a certain level of consciousness. Only a subsection of “rich” then belong to “world class”.
I have to say that I really enjoyed the book, very short, well framed and packed with interesting information.
Read on to see where you could upgrade your thinking when it comes to money! You can also watch or listen to the podcast.
Steven Siebold came up with 30 main differences when it comes to the emotions, thoughts and behaviors of “The Rich” regarding money. I focused on a subsection that I thought was particularly interesting.
To change one’s mindset is akin to excavation work; starting with knowing precisely what one wants to upgrade, then uprooting the old programs and reprogramming with expansive commands.
In “More! The Microdose Diet, The 90 Day Plan to More Success, Passion and Happiness” I lay out a 90 day protocol to support you in upgrading your emotional, mental and physical state to put you back in the driver seat of your life. Bye bye old mindset👋 Hello Success, Passion and Happiness 🤩
💰World Class Has Positive Beliefs re Money
Middle Class believes you have to have money to make money, World Class believes in using other’s people money. In the same vein, Middle Class believes hard work creates wealth, World Class believes leverage creates wealth. They strategically focus their mental energy and efforts on the most profitable areas of their business while leveraging their contacts, credibility and resources to maximize the results of every action they take.
Middle Class believes the more money you earn, the more stress you experience. They equal high income with stress. Many corporate executives work long stressful hours, and despite high compensations spend more than they make, then worry about the lack of money and time available. World Class believes the more money you earn the less stress you experience. They think that most stress in business and in relationships is caused by lack of money, so the more financial resources you have, the less stress you will experience.
💵World Class Is Resilient, Self-Confident and Optimistic
When an economic correction occurs, both Middle Class and World Class suffer losses, but World Class quickly turns their attention to financial opportunities that present themselves in a society of suddenly terrified people.
World Class take calculated risks, trusting they could make back any losses. Middle Class is looking for the home-run investment, while World Class invests wisely knowing the bulk of their fortune will come from the service they provide.
🤑World Class Masters Nonlinear Thinking
Middle Class trades time for money, in alignment with the belief that making money is a linear process connected to time. More hours worked and more years of experience mean more money. World Class generates money through ideas that solve problems. And because there are no limits to ideas and no timeframe associated, there is no limit to how much money they can earn, nor is there a minimum amount of time to allocate.
💸World Class Invests in Themselves and Their Projects
Middle Class spends a substantial percentage of their mental energy worrying about money. World Class fearlessly direct their mental energy toward accumulating wealth through serving people and solving problems. They invest the necessary effort to create high-impact solutions.
Middle Class embraces advanced degrees. They believe formal education is the only education that will help them become successful. When they want to make money, their companies encourage them to go back to school. This is one of the most inefficient strategies for increasing one’s income. World Class embraces any form of education that makes them wealthier; Personal and professional development seminars, but also unconventional yet effective methods of learning, such as joining referral marketing or direct sales organizations.
Hopefully this got your critical mind in full action mode and you might even have uncovered some gaps in your mindset! If you want to learn more you can find more insights in “How Rich People Think” by Steve Siebold.
Listen to the episode here, on Spotify or Apple Podcasts.
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About The Microdose Diet
The Microdose Diet by Peggy Van de Plassche focuses on personal and professional development using alternative medicines, such as microdosing psilocybin, tapping meditation, journaling, guided meditation and visualization ✨
I am Peggy Van de Plassche, a former banker and VC who spent 20 years in the financial services and technology industries. I now speak and write about the benefits of alternative medicines, such as microdosing psilocybin, for professional and personal growth. I created The Microdose Diet - the 90 Day Plan for Success and Happiness🍾 My book will be published in 2024.
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This newsletter is designed to entertain and inform, not provide medical advice. You should always consult your doctor when it comes to your personal health or before you start any treatment 🩺