Watch a video
3 traits that top 2.5% of rich people in the world have
There is a research of what kind of people tend to become rich, like what kind of characteristic or personality do rich people tend to have. There was a research done by one of the most famous professors known for researching rich people, but he found there are some common traits among rich people and I will introduce some traits that we can possibly imitate and get new perspective so that you can make more money.
Rich People’s Trait #1: A definition of money
Basically there are 3 traits. First one is a definition of money. It’s called “money script” and it’s about how you think about money, like money is dirty or money is everything but the research revealed what kind of money script rich people have. And if you have this mindset, what happens is it increases your earning about 6% in average. In contrast, when you think, let’s say money is a dirty thing, your earning becomes 8% less than what you are making now. In other words, your earning depends on your definition of money.
Now, let me ask you a question. What is money to you? What is money do you think? Give yourself a minute and think about it. You can think for a little while or put your answer in the comment box below later. But what is money to you? You think money is a tool? or credit? Like, what you wanna make money for? Think about it for a moment.
In fact, this is based on Stats in the US but those who ranked top 2.5% earning, they think money is “freedom” to them. Money is to obtain freedom. So those who thought money is a tool or something, you might have thought that money is a tool to be free, then that’s ok. If you think money is for obtaining freedom, those who think like that had better possibility to earn money. So those who think money is to become free, they tend to earn money.
In contrast, those who think money is to obtain authority, or money is a symbol of power, they want to show their authority that they use lots of money for it, and eventually ends up with spending all and nothing will be left. Or those who are too scared to use money that they keep saving it, and they tend not to be so rich because they might miss a chance of investment, or they waste their time, like for example, they take 2 hours to walk just to save $10 of transportation fee, or things like that. So those who think money is to obtain freedom, they tend to earn more. This is trait #1.
Rich People’s Trait #2: Financial Literacy
The second trait that rich people tend to have is the level of education. It is not only about which university they graduated from, but also to be able to think logically. Also, when they were young, they tend to have studied finance and gained financial literacy. So the financial knowledge helps you to become financially success, more than just studying for some certifications or reading some self-empowerment books. So the second trait of those who have money is the educational level of financial literacy and this is also an important factor, and if you don’t know this, you might struggle with money-related problems.
Rich People’s Trait #3: Self-Control
The third trait that rich people tend to have is about if you blame yourself or not. If you have something bad or something good happens, you think it’s because of yourself? or because of others around you? It is said that those who have lower self-confidence tend to think when they become successful, it’s because of others, and and when they fail, it’s because of themselves. But basically, you better think whatever it happens, it’s because of yourself, think you caused whatever it’s happening. When it became successful, that was because you put you effort on it. When something goes wrong, although you thought it’s because of others, think that was because you chose a wrong person, or I could have done something to avoid the situation, and so on.
So the point is NOT to think all the bad things are happening just because of others. This is called “Self-Control” but whatever it happens, you better have a sense that you are the one who is controlling the situation. Those who have money, even they are facing some tough situations, they tend to think “if I work hard on this, I can get through” or “if I put my effort, things will be better.” and it makes a huge difference. So the sense of controlling things around you is very important and the more you have the sense of control, the more you become happy, and you have better satisfaction in your life. But of course, you cannot control everything, like the weather or the wind, if I try to control the wind, like “Stop the wind!” it does not stop, right? And you never think to control something that you can never do it. And because of the wind, you cannot control the wave on the river, right? So you need to be able to identify which one is controllable and which one you cannot.
So in your business, relationship, or whatever, think what you can control, identify it, and have a sense of self-control over it.
For example, in Forex, you can control when to buy or sell, but you cannot control the movement of the chart. But you can control where to take profit the cut loss. Don’t blame how the market goes, but better to have a sense that you decided the entry and exit so that it became what you wanted because you cannot control the chart.
So, today I introduced 3 traits of those who are rich, a sense of self-control that I just said earlier, and have financial literacy, and money script, like money is to obtain freedom. So you earn more money by studying about it, which helps you to obtain freedom, and also, know that there are things that you can control around you. These are the traits that top 2.5% of wealthy people have and I thought this is an interesting research that I wanted to share with you today.