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 uber rich.
And you may not like what you'll find here. And you may not agree with it.
But from our experience with some of the super elite much of it is very true.
The book has a great summary that compares the perspectives of the super-rich with that of the successful middle-class millionaires.
Ready for 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 |
|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 |
|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 |
|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 |
|Concentrate on their strengths and delegate everything |
Source: The Family Office: Advising The Financial Elite
Here's what else we've noticed...
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.
Over the years we've been exposed to several people who we'd call super-rich. Not quite billionaires but multi-multi-millionaires.
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 to 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.
Until next time ... Your Life! Your Terms!