10 Wealth Habits of the Rich vs Poor

0:00If you're ready to create real wealth, financial freedom, optimal health, and relationships to have it all, then this podcast is for you. Chris Cron has helped thousands of people create financial freedom, fine vitality in their bodies, and eliminate the barriers that hold them back in their careers and relationships. If you're ready to catapult your business and life to your peak potential, then we have exactly what you need here on the Chris Cron show. It's time to have it all. Whatever you want in life, you need to study. So for example, if you want to be rich, then you better learn what rich people do versus poor people. My name is Chris Cron. I was financially free at the age of 26 because I bought a bunch of properties. Today I've done 4,000 transactions, nearly a billion dollars worth of real estate, and I love creating millionaires everywhere. Today's dedicated to you in understanding 10 things that wealthy people do that poor people don't, and if you're broke, it's probably because you're still doing and thinking

1:04in some of these ways. So here goes nothing. Number one, rich people believe in the law of income. They want to put effort in and then they want to get a result out. They are results-oriented people, which means if they do something and if they create value, they expect to be paid. So in other words, rich people get paid for producing valuable results. Poor people, they don't care about the result. They literally want to get paid for their time. I put time in and I get paid, and that will keep you poor. So lesson number one, results trump hard work. Alright, number two, rich people are voracious readers. I mean, think about it. Mark Cuban reads three hours a day, Bill Gates 50 books a year. If you step into Warren Buffett's home, he says that he reads 500 pages a day. Bottom line is that when you compare that to poor people, they don't read. They're too busy being acted upon. They're being paid to do stuff, but people that are wealthy, they know that we have to

2:06nurture and nourish their mind. They have mentors. They're reading books. They're getting access to some information that you can't get anywhere else. They're heading to the seminars. They're learning. They're growing. They're feeding their minds. So lesson number two is that leaders are readers. People that make a lot more money that are the influencers that change the world are readers. Number three, the rich see opportunities where poor people see obstacles. Like literally, they could be the exact same thing. And once says, oh my gosh, this is so amazing. And the other one says, oh my gosh, this is so horrible. Most people on this planet are trained to think and be like poor people, where it's this negative mindset of no, no, no, no, no. And the rich are trained to actually ask, where's the silver lining? Where's the opportunity? How can this be leveraged for something good? The take home lesson is that the rich look for opportunities in everything, especially obstacles. Number four, the rich associate with other successful people. They're always reaching up and asking, how can I get to person that has achieved more?

3:09How can I let that rub off on me? But you know what the poor people do? They hang around their same group of friends that tolerate the same inadequacies that are basically in that same water of stagnation. And if you check out stagnant waters like a pond where there's nothing flowed through it versus a mighty river that is rushing, that's the difference between rich people and poor people. Rich people are always out there networking, moving and shaking. And they're reaching up. It's what my friend Tony Robbins talks about when he says it's proximity to power. You've got to get proximity to people that are shaking and going places. Number five, the rich are willing to promote themselves, their ideas and their values. You look at the difference between rich people and poor people and rich people will put themselves out there at great risk. Poor people, they don't open their mouth, they keep to themselves, they keep super quiet and they don't want to rock the boat. Rich people in an effort to create value will really put themselves out there vulnerably and poor people are not willing to do that. So the lesson for number five is that the most successful people, the rich are the people

4:14that put themselves to share the most. Whoever shares the most wins the most. Number six, rich people grow bigger than their problems. I mean listen, life is going to have problems but you either believe that you can overcome them or that they're going to overcome you. And rich people don't believe in circumstances that are bigger than them. Poor people, they'll succumb, they'll bow down and they'll basically say, this is where I got beaten down and that's that victimhood that comes out in poor. Now I know this has really crashed me talking about rich and poor and such labels but I want you to understand that there's really a different mindset that a rich person will take a big problem and say, how can I turn that into a solution and a business that helps other people. A poor person is too busy being overcome by whatever problem they're facing. So lesson number six, rich people grow solutions instead of growing problems. Number seven, the rich think in terms of both and the poor think in terms of either. As in literally the opportunity cost of life, when given an option, a poor person says,

5:17well, can I do this one or can I do that one? And a rich person says, how do I get both? And they think in that both mindset, dude, you don't have to sacrifice your health to have a happy relationship or a thriving business like you can have health, wealth and prosperous relationships. You can have it all. That is that rich mentality that says, why would I limit myself when a poor person is too busy thinking how limited they are? The lesson, find a way to have it all. And lesson number eight, the rich focus on net worth, not working income. You know, poor people, they're just really busy in that trading time for dollars and that exchange, but they're wealthy, they're not interested in being paid for their time. They want to get paid for producing a result. They want to get paid for an outcome. So when they're negotiating a deal, a poor person says, well, how much are you going to pay me per hour? A wealthy person says, how much equity or ownership am I going to get by being a part of this? So they think in terms of ownership, they don't think in terms of dollar per hour trade.

6:19You know, a different way of stating that is that the rich think like business owners and the poor think like business operators, because they can both be in business, but one of them owns a business that works for them and another one works the business even though they're the owner. So the lesson at the end of the day is be an owner, not an operator. Number nine, the rich invest in themselves. And poor people don't. Rich people believe that this is like the greatest gift they got and how can they take care of this body? How can they invest in themselves? I think Kobe Bryant invests one and a half million dollars a year from what I've been told into just maintaining his body with massage and chiropractor and doing the things that he needs. Are you worth investing in? Because poor people, they won't take themself, spend money on themselves to go to seminars events or get mentors or training. They should if they want to break the cycle, but the rich people, they already get it. They want the best of the best, so they'll fly out, they'll get on a plane, they'll meet the people, they'll make the investment and take the time to invest in themselves.

7:19Number nine, take home lesson, invest in yourself. Number 10, something that the rich people do that the poor people don't. Rich people invest heavily in real estate. They love the leverage, they love the tax advantage and they love the cash flow. Three things that they can get in business, but they can't get in any other investments. Poor people are putting their money in 401Ks and IRAs and things that produce really small pathetic results. Meanwhile, the rich are making money hand over fist because they throw themselves in the way and in the action of asymmetric risk investments. They have massive returns, ironically just as available to poor people, but it doesn't work with their mindset. So the rich invest in real estate.