What Truly Separates The Rich From The Poor

What Truly Separates The Rich From The Poor


In the world we live in today, the richest
1% of the population controls 48% of the total wealth and the top 80 richest individuals
are worth as much as half the world’s population or roughly 3.5 billion people. When considering these figures, there is no
doubting the fact that there is a separation between the rich and the poor. While many people assume these wealthy individuals
gained their wealth by being born into wealth or winning the lottery, that simply isn’t
true. In fact, only 11 out of the 80 richest individuals
were passed down their fortunes with the other 69 having made their wealth through their
own hard work and determination. And one of these 69 individuals is none other
than the investor mogul himself, Warren Buffett. Like the majority of these rich individuals,
Warren Buffett grew up in a middle class family but found a way to amass the knowledge and
skills that would eventually lead him to accumulating a wealth of over $70 billion. Undoubtedly, we have all seen people living
in excess and others living with next to nothing but have you ever taken a second to think
about what truly separates the rich from the poor? Sure, the obvious answer is that the rich
have significantly more money than the poor but I’m talking about the reasons beyond
the dollars and cents. When you think about it, a rich and a poor
person can live in the same city, have access to the same jobs and both only have 24 hours
in the day yet one can be living paycheck to paycheck while the other can have more
money than they could spend in an entire lifetime. So what truly makes the difference between
someone who will amass billions of dollars in their lifetime and someone who will struggle
financially forever? Well, using our rich friend John and our poor
friend Tim to explain, I will outline exactly what separates the two so you can adopt these
rich person habits and realize financial prosperity in your own life. Before we get going, you should know that
both John and Tim have similar IQs, come from middle class families and live in the same
city. In short, neither man has any advantage over
the other however their bank accounts are at total opposite ends of the money spectrum. It’s Monday afternoon and both John and
Tim commute home from work. When Tim gets home, he goes over to his couch,
turns on Netflix and binge watches hours of mindless TV to numb himself from the long
work day he had. While Tim’s boss recommended that he should
read more book in order to increase his chances of getting promoted this year, Tim can’t
be bothered to read, especially now that a new season of his favourite show has come
out. When John arrives home, he immediately logs
into his computer to start studying. Hours pass as John reviews his notes for his
upcoming exam. While John already has a Master’s degree
and multiple designations, he continues to put in a few hours every night to work towards
another accreditation which will help him scale the corporate ladder faster. In fact, John recently learned that one of
his idols, Dan Lok, invests over $500,000 a year into continuous learning. John figures that if millionaires are investing
that much time and money into learning new things then he should definitely do the same. Therefore, difference number 1 between the
rich and the poor is that the rich never stop learning. At work the next day, Tim’s boss begins
handing out bonuses to all of the employees. As Tim opens up his envelope, he sees that
he’s gotten a $100 bonus, much less than all of his peers. Tim goes up to his boss and complains saying
that he’s been at the company for 10 years and this is an embarrassing bonus to have
received. His boss goes on to point out that Tim never
stays late to help his team and that his productivity has dropped every year since he started. Across town, John is plowing through his current
project at work when his boss approaches him. His boss hands him an envelope and as he opens
it, he sees in front of him a $10,000 check in his name. John is stunned and very appreciative of the
generous bonus. John’s boss goes on to explain that John
has been putting in a ton of hours as of late and his last project saved the company $1
million in operating expenses so to recognize his work this was the least they could do. Therefore, difference number 2 is the rich
sell value and the poor sell time The following week, Tim is counting down the
days until Thursday which is when he gets paid. As soon as his boss gives him his bi-weekly
check, he rushes to the bank and begins sending out payments to all of his creditors. He sends money to his landlord, to his hydro
company and of course his monthly installment for income tax. As Tim gets to the end of the month, he decides
to see just how much money he saved. As he opens his balance he realizes that not
only did he not save any money but that his account was lower than it was a month prior. Tim has no idea where all the money could
have gone. When John gets paid, $500 is automatically
deducted and is funneled into a saving account that he can’t access. After making sure his savings have been funded
for the month, John then makes his mortgage payment, pays his utilities company and makes
his monthly installment of income taxes to the government. At month’s end, John smiles as he notices
that once again, his bank balance has grown making him even richer than he already is. Therefore, difference number 3 is the rich
pay themselves first while the poor pay themselves last. One night after work, Tim is watching TV and
sees an ad for a new high definition television that is being released. The TV costs $1,000 which is all that Tim
can afford to spend on entertainment devices for the year. While Tim contemplates this purchase, he has
also been dying to buy the new PlayStation that just came out but at a cost of $500 there
is no way he can get both. Tim sulks wishing that his boss didn’t suck
and had given him a bigger bonus so that he could afford to buy both. After passing his exam, John wants to treat
himself for his hard work and decides that he wants to buy himself a new gaming system
and TV. John too only has a budget of $1,000 for his
purchase but really wants both the new state of the art TV and PlayStation console. Instead of deciding between the two, John
asks himself how he can get both. John figures that he can take on a side consulting
project to earn the extra $500 he needs to cover the cost of the PlayStation and build
himself the perfect gaming set up to celebrate his big accomplishment. Therefore, difference number 4 is that the
rich have a growth mindset while the poor have a fixed mindset. Because Tim dreads going into work every day,
he has made grabbing a Frappuccino from Starbucks a staple in his morning routine. Without his sugar-filled latte, Tim knows
he couldn’t even make it through just a few hours at work which makes him more than
happy to trade $5 a day for his morning jolt of caffeine. John on the other hand, walks right by Starbucks
every day and instead of getting an expensive latte, he drinks the free coffee that’s
served at work. Sure, the coffee isn’t as good as a Starbucks
drink but being able to save $5 a day on coffee is well worth it in his eyes. You see, John has been saving up that $5 a
day for a year and now has $1,500 which he is going to use to go on an all-inclusive
trip to Mexico with his friends. John also knows that this delaying of gratification
helps him embody the traits of his fellow rich peers as he learned while reading a Temple
University study. The study ranked the most important factors
in determining affluence. Occupation, education, location and gender
topped the list, but delaying instant gratification beat out many of the more traditional signals,
including age, race, ethnicity and height. Researchers believe that a person’s ability
to envision larger future rewards makes them much less likely to succumb to short-term
pleasures which is why turning down a daily latte was easy when envisioning all the fun
he would have on the beach in Mexico with his friends. Therefore, difference number 5 is that the
rich understand the power of delaying gratification whereas the poor seek short-term pleasure. As the economy starts to fall on hard times
many companies begin to lay people off as a cost cutting tactic. As Tim is sitting at his desk one afternoon
scrolling through Facebook and doing the bare minimum to keep his job, he gets a note from
his boss. The message says, “please hand in your laptop
and badge at the front desk – we are letting you go”. Tim begins to freak out wondering how he will
pay his rent and bills now that his sole source of income is gone! Tim always believed that being an employee
meant having job security and after getting fired he began to wonder if this impression
was wrong to have held for so many years. Unfortunately for John, he too is let go by
his boss. In an exit interview, John’s boss talks
for an hour about how great of a worker he is and how he had let go of all other employees
before finally letting John go. John graciously accepted his fate and thanked
his boss for the opportunity and reassured him that he would be fine financially. You see, John knew that no job is secure which
is why as soon as he entered the workforce he began building an online business and contributed
to a dividend-stock portfolio which are now established enough to keep him afloat until
he finds another job. Therefore, difference number 6 is that the
rich build several streams of income while the poor rely on only one. About a week after getting let go, Tim is
at home moping with his other loser friends about how much the economy sucks and how it
will be nearly impossible to find another job. They go on about how unfair life has been
to them and how they would be rich if they had gotten the same lucky breaks as others. The evening after getting let go, John invites
his close friends over to his house for dinner. As the group are eating, John explains that
due to the hard economic times, he has been let go by his company but reassures his friends
that his other sources of income will more than support his current lifestyle. One friend excitedly says that this is the
perfect time for John to join his construction company and offers him an executive position. Another friend chimes in and asks John if
he wants to start a consulting company with her as the two have worked so well together
in the past and could become one of the leading firms in the city in no time! Therefore, difference number 7 is that the
rich surround themselves with other rich people whereas the poor surround themselves with
other broke individuals. To summarize, the differences that separate
the rich from the poor is that the rich never stop learning, they sell value not time, they
pay themselves first, they have a growth mindset not a fixed mindset, they harness the power
of delaying gratification, they build multiple streams of income and finally they surround
themselves with other rich individuals! Thank you guys so much for watching! Please like, subscribe, share and I will see
you in the next one. Jeff Bezos, Bill Gates, Warren Buffet, Amancio
Ortega, Mark Zuckerberg, Bernard Arnault, Carlos Slim, Larry Ellison, and Larry Page
are the nine richest men in the world. Their combined wealth, according to Forbes
in January 2018 was 687.6 billion. This figure is equivalent to the total wealth
of; get this, 4 billion of the poorest people in the world. This is to mean, in terms of wealth, if you
put these 9 gentlemen on one side of the scale (or see-saw if you prefer), you would need
a good 4 billion of the world’s poorest on the other side in order to balance it out.

100 thoughts on “What Truly Separates The Rich From The Poor

  • Um…so according to this poor ppl are just lazy and don't want to learn further then their college degree? Who wrote this…it's offensive to assume poor people don't have good habits and rich people do!!! Many many poor ppl wish they have the opportunity to even go to college and work super hard to achieve that goal! To the writer: please pick a minority and start stereotyping them…being one myself I would love to hear your thoughts!

  • Ugh, this video enjoys blaming poor people for being poor while pretending lower middle class is poor.

    Better thing to do with your time is read or listen to Dave Ramsey’s advice. True, he’s abrasive, but his advice actually works. I’m following his program and am slowly but surely giving myself financial peace.

  • Tell me what resort did John stay at in Mexico for 1,500 did they all share a room and for how long did he stay. Does this include air fare??? To add to John's income when he left for this Mexico trip he could have rented out his place as an air B&B🤣🤣😂

  • lol if I follow the logistic we can tell this video has not been made by a rich person because it is full of bullshit. indeed, since rich person continue to learn when they go home after work, they should not be stupid enough to say sooooo much dumb things

  • 'talking to the other loosers?'……what about coming back home from work and not finding a cartoon room but life issues and personal struggles? For example? What about living a life worth living one day at a time sometimes? Don't mean to offend but…yes…I have the impression this is a quite simplified version of the thing.

  • Quite right but …. not exactly. Life is not just money but also to enjoy it. If $5 for a nice coffee in the morning is a problem, then you should think not to replace it with a crappy one but how to increase your income so you can drink it every morning and enjoy it.

  • It took a lot of years to spend my money on things that make money and not marketing scams. I don’t spend on games and entertainment but twice a year travel the world, I only work 5 months out of the twelve for my employer, The rest is working for me,

  • Warren Buffett's father was an investment-trader himself and US Congressman; Buffett's grandparents owned a grocery business. Not to take away from any of his or his families accomplishments but the video makes it seem like Buffett overcame all odds when he was actually afforded much knowledge and influence from his parents. That is just one of many poor examples in a video about how economic inequality has nothing to do with the socioeconomic situation of your parents and access to education.

  • This is the least inspiringly visualized tale of capitalist crap I've come across in a long, long time. I hope whoever produced this, feels with every fiber in their body the depth they have sunken to. Maybe pick up a book next time and educate yourself or read up on how power mechanisms in society work instead of furthering the long since refuted notion that work alone can get you places in this world.

  • Haha. Got rich selling food in a street stand. Bought a home, got lucky in the lottery, have a good family, and spouse. Didn’t get too much into these investments, stock market and money funds. Beware of the greedy landlords and greedy commercial property management. Negotiate the trends. Know when to cut a bad deal or investment. Don’t cheat people while building your name and reputation. Else be a rap star or be born into a filthy rich family.

  • I would assume that a large gate would be sufficient. The Kennedy Compound (as one example) had many barriers to entry I'm sure. They talked about the poor, but certainly did not invite them in for tea.

  • Not even going to watch I call BS on the pic. Poor people can't afford to spend that much on clothes, they shop at Walmart. Your pics should be labeled Rich on a budge and Rich but living above their means.

  • If we were all super rich no one would want to do the so called minor jobs, not all of us are entrepreneurs. If that were the case there wouldn’t be homeless and starving people. Some people like power and don’t care about there fellow man. Some folk are Nasty greedy barsteds

  • rich save money and money goes to the economy and his business and investment.
    poor buy expensive crap and love expensive things.

  • I'am not english native speaker so there will be errors.

    Comment:

    That's bullshit!
    1. Buffetts Father was not middle class he was upper class and investor. So you are lying to us probably also in the other cases
    2. Spreading the lie of money makes happy and poor are lazy and therefore deserve to be poor and exploited
    3. Statistic of all millionaires shows 80% inhereted the wealth. Source: noam chomsky
    4. I punch you in your prick face you propaganda minion 😀
    5. There are some general tipps of living successfull life which you stole from some selfhelp books who are living of the illusion that everybody could make it. –> see the lie of american dream a lie by the rich to blame the poor who are exploited by the rich that they are the cause of their poverty.
    6. There is a slime chance for some really talented but this are 3-5% of the population the rest loses.
    7. In most cases it is not the poor persons fault it is the system which allows only a few a life in senseless luxury at the expense of everybody else.

  • This also assumes that people don't have health issues that cost money. The health benefits at the companies are excellent (most aren't) that both men are single and without families allowing them to devote hours and hours after work to 'learning'.

    And as others have stated, most companies simply won't reward you for extra time you put in to save them money. I've worked for two Fortune 500 companies one was Fortune 50 company. The company made a policy of cutting divisions and employees who hadn't been there very long simply got cut no matter how many hours they'd put in, no matter how much customers liked them etc.

    And in software, you don't really 'save' companies money. You might decrease the number of bugs a release ships with but you don't save 'millions'

  • Dude you are just REPEATING the HYPE, society is set up for the VAST MAJORITY of people to be WAGE SLAVES, because without WAGE SLAVES there is no one to perform manual labor, which RICH people DO NOT DO! The rest is just a pyramid scheme similar to how professional sports work, there needs to be about 1 rich person per thousand wage slaves for example, (figures are estimations) the rich person is just like an IDOL, for example Warren Buffet is your IDOL, ok you are a wage slave, right and Warrent Buffet is your IDOL you say to yourself if I like warrent buffet and I try to do everything warrent buffet does, then I WILL BE RICH LIKE WARREN BUFFET. You can do the same thing for any interest such as football, a lot of people say if I do x, y and z then I will be RICH like my favorite football player. Etc, Etc. But the truth is you will never be rich like your favorite x, y and z you will always be a wage slave, paying rent or a mortgage, and it will not matter how hard you try. But you see wanting to become rich like your Idol motivates you to be a well behaved wage slave. There will never be more than a few handfuls of rich Idols and the odds of you becoming one is like winning the lottery, and this is on purpose because there is zero possible way for everyone to be rich and successful, because if everyone is rich and successfull then they wouldn't have any employees to do all the work for them to make money, because rich people literally do zero to little actual work whatsoever. All they really do is leverage poor people to do work for them.

  • I don't have a $2,000+ wardrobe, nor the latest iphone. I still have my 'old' galaxy s7 edge, and I shop at thrift stores for most of my clothes. I also never buy the latest model of a smartphone right away. Am I rich yet?

  • Its reassuring that most people taking this in a negative fashion. For me the most important factor is luck. But when you dont have luck at all, you need TONS of effort to trade. Since the trading rate is unbelievably unfair.

  • even small children can see the flaw in this logic . right wing people actually have lower IQ scores on average .
    wealth comes from abusing others without conscience .

  • "It is evident that under present systems and conditions of government the poor are subject to the greatest need and distress while others more fortunate live in luxury and plenty far beyond their actual necessities. This inequality of portion and privilege is one of the deep and vital problems of human society." ~ Abdu’l-Baha, Baha'i Faith

  • I always surround myself with people who have more than me..it makes you want more…i did learn a few lessons tonight…stop living beyond my means and have more than one income….im a barber and certified carpenter….i always did want more than one business…my mind is always working…and i have great ideas😊

  • 🤓🤓🤓I would believe this video, if I weren't aware of so much corruption created by the wealthy including the one you mentioned in this video. But, the video made some good useable points. Reason why I like and subscribe.🤔🤔🤔

  • this video is so fake, as soon as the boss rewards extra money to the guy that worked harder, that's when you know
    this has to be propaganda from companies like amazon

  • You talking rich and playing video games? Unless you're a pro video game player, I don't hear Billionaire plays video game . Pass!

  • This is so hilarious since it assumes that meritocracy exists and it's not about the connections ppl have with other ppl.
    Then what you basically are suggesting is that in order to be successful you necessarily need to give all your evenings up to study. That means no family, no hobbies, just work and study. You might have the billions you deeply love, but you just live partially imo.

  • Kind of dumb dude. The main difference is the rich don't spend money on stupid stuff. We … they … put their money into assets that work for them:-)

  • Did… did they not catch that occupation, education, location and gender were the most important predictors? They disproved their whole point by showing that the systemic factors played a larger role than individual choice, right?

  • TL:DW:

    1) Be born in 1st world country to UPPER class family, like Bill Gates and most other rich.

    2) DONT be born in 2nd/3rd world country, unless elite family.
    3) Surround your self with other upper class families.

  • All wrong… what makes the difference between the rich and poor is that the rich has 7 different streams of income while the poor relies on his job to get wealthy. Are you seriously suggesting that we be all good house boys/girls to someday maybe get a piece of someone else’s empire? Work for yourself have different streams of income plane and simple. Find something you love doing to help society and everyone will invest in you. What a joke this was. So are you telling me that a accountant with no construction experience will become an executive in the company.😶🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 don’t care how many rich friends you have none of them will give you a job. They are rich for a reason. They make good business decisions not hiring no one without any experience to be one of the top decision makers of the company. Just like a Millennial to make a story about being so entitled.

  • I mean it's about the way you think about things. Let's say you are crazy poor. You're a gas station worker, and live in the projects. You're constantly getting your hours cut. You get your food from food stamps. And you take the bus to work every day. The only tech you have is a smart phone on the cheapest plan you can find. It seems like there is no way out to learn new skills because you aren't making enough and don't have a PC to apply for jobs. But in reality, there are things you can do. You can find free Facebook or Meetup events that you can take the bus to, where you can meet people. If you have even $5 extra, you can use a microinvesting app, like Acorns or Stash. You can volunteer for the city to help your neighborhood, since your neighborhood is struggling. You can even learn all kinds of things just through the internet on your phone. And sometimes you can apply to jobs through your phone. There's ALWAYS something you can do. Always. It's a matter of finding it and not feeling sorry for yourself.

  • Accreditation’s don’t make you rich, this is stupid. Rich people don’t climb the corporate ladder either. I’m not saying it has never happened but generally speaking the rich think and act outside of the box.

  • I buying quality stuff and this is not mean that I waisting money, I just buying very rare. and my stuff last and last. if you think you saving money when you buying cheap think twice.

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