The rich buys wealth while the poor buys liability

[Dogedegen]

I read an article describing how the rich and poor man thinks.. before the write there was a pictorial drawing showing the clothes the rich and poor man had on...the rich guy had a simple tshirt and trouser while the poor man had a lot of diamond watches and necklaces both the rich one had more value in net worth but he wasn't spending on liabilities like the poor man, having an investment is something you won't regret

Not all rich people are like that, but mostly it is true. Actually the second part is more often true. You see poor people trying to look and act rich, while they do this because they have mental problems. They are sad and have issues with their self image, that's why they compete online with pictures against each other. A peaceful man does not have a need to do these things.

[Orpichukwu]

There are some people whose dream or plan in life is never to reserve wealth but to just make money that they can use and spend on things they desire for the little time they have to stay on earth, and anyone who has such a mentality will never have plans to invest in something that they know will take time to yield them profit. Even if you give them investment plans, they will not take them seriously; instead, they are more concerned with satisfying their luxury urges. It's the way they have just positioned their lives to be, and they also fall under the categories of those who want to make the rich richer because they are there to patronise their business.

[Ryu_Ar1]

There are some people whose dream or plan in life is never to reserve wealth but to just make money that they can use and spend on things they desire for the little time they have to stay on earth, and anyone who has such a mentality will never have plans to invest in something that they know will take time to yield them profit. Even if you give them investment plans, they will not take them seriously; instead, they are more concerned with satisfying their luxury urges. It's the way they have just positioned their lives to be, and they also fall under the categories of those who want to make the rich richer because they are there to patronise their business.

But for now it will be very difficult if we continue to compare the poor and the rich because in the end it cannot be compared because it is not balanced in terms of position, opportunities or other factors such as relationships, etc.

Sometimes many people are too focused on thinking that those who are poor are considered not wanting to change their fate and have the same mindset where they only focus on making money but the results are stagnant in terms of their finances.

In fact, in this context we must also realize that in the end the comparison that is too far between the poor and the rich makes us unable to equate all just because of mentality.

For those who are rich who are supported by all forms of luxury and encouragement from several parties, they will not start their lives from point 0 because they already have a stepping stone that they have so that the path to success can be very visible even though they have not started anything but different from the majority of the poor where when they want to improve their finances, they have to start from point 0 or even minus point because they have nothing, only the determination to improve their financial condition.

No one wants their old age to be filled with suffering, but there are some conditions that cannot be changed, including the wheel of life system where rich and poor will always exist and become symbols with a less than good stigma, namely social strata.

[Hanadawa]

Not all rich people are like that, but mostly it is true. Actually the second part is more often true. You see poor people trying to look and act rich, while they do this because they have mental problems. They are sad and have issues with their self image, that's why they compete online with pictures against each other. A peaceful man does not have a need to do these things.

I also read in an article. And indeed the fact is mostly as you said. Rich people do not care how others see them. They only wear and use something that makes them comfortable. This is different from poor people who have mental problems. Because he is poor, he finally finds other ways for people to see and respect him. One of them is by wearing branded goods and expensive watches even though they are actually not worthy of it. Yes, I agree that not everyone is like that. But the article examines why many poor people prefer expensive clothes rather than learning to improve their skills to earn extra money. I don't know if this research can relate to the discussion in this thread but I think it's quite interesting because we often see rich people getting richer but poor people getting poorer.

[traderethereum]

Having a right mindset will help us to stay awake especially if we can become righ person. We need to manage our mindset and not waste the money for something that we don't really need. If somehow we can be rich, we need to think how we can grow our money. We can search for the right investment such as Bitcoin investment and focus in accumulating so we will have a big chance to profit more.

If we can not manage our mindset from now, we will difficult to determine what we can do with our money if we are rich. We may just spend the money for buying things that is not important to our life. We don't focus to make our future better by doing many things that can grow our wealth but just waste the money.

[Samlucky O]

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

That's why they said to be rich is by mindset and not by appearance. A person may be poor in appearance but rich in mindset, all what he needs is opportunity. Sometimes people misunderstood all people that has no money to be poor and classified people with money to be rich, not knowing that most people where fortunate to get money by chance but doesn't in anyway means that they are rich. because for sure, such person with money without rich thinking will definitely blow up the money and come back to it's original status.

Surely Rich people invest money into asset or a profitable business that yeild a high return and their profit would be reinvested to works for them to make more money. why the poor end up working for people and recieve salary and investing it on liability.

The richest man in China once said, that if you give a monkey banana and money, the monkey will chose banana instead of money because the monkey doesn't know the worth of money, that it can buy many bananas as much as possible. So this implies that people forget to invest into business that is profitable to yeild profit but are  easily moved by job.

[G_Besar]

Not all rich people are like that, but mostly it is true. Actually the second part is more often true. You see poor people trying to look and act rich, while they do this because they have mental problems. They are sad and have issues with their self image, that's why they compete online with pictures against each other. A peaceful man does not have a need to do these things.

I also read in an article. And indeed the fact is mostly as you said. Rich people do not care how others see them. They only wear and use something that makes them comfortable. This is different from poor people who have mental problems. Because he is poor, he finally finds other ways for people to see and respect him. One of them is by wearing branded goods and expensive watches even though they are actually not worthy of it. Yes, I agree that not everyone is like that. But the article examines why many poor people prefer expensive clothes rather than learning to improve their skills to earn extra money. I don't know if this research can relate to the discussion in this thread but I think it's quite interesting because we often see rich people getting richer but poor people getting poorer.

Only some are like that and it must be admitted that it exists and even in our environment we often see such things, poor people need validation because they are ashamed to admit that they are poor so they only spend their money just to prove to many people that they are not poor while people who are really rich do not care about it anymore because they tend to only think about themselves without needing validation from others, it is real and makes rich people able to think more progressively to increase their assets while poor people who behave like that will never be able to get out of poverty.

[Zlantann]

Most poor people have the dream of living like the rich people, they want all the lavish things that rich people enjoy but they don't about how to make the money. If by any chance they come into huge amounts of money their priority will be to own some of the luxury lifestyles of the rich. But the problem is that they cannot sustain the lifestyle and they will end up selling off the material things that they bought at cheaper rate and end up poor again. It's only a poor person that has the mindset of the rich that can forgo all the things that they desire like a nice car, beautiful house and designer items to invest the money or use it to start a profitable business. The business and investment will continue to give them profits to buy what they desire.

Buying a beautiful house is not a bad investment especially if the value can appreciate in the future. In my country, landed properties are an excellent investment because the rising population ignites a demand for accommodation. But renting an expensive house because you just made some money is not a good investment option.  It will be better to live in modest houses and build your investment.

However, anyone whose intention is to live to please people will never be successful. If you spend money on luxury because you want to look rich in front of people, it might lead to debt. It is better to live a modest life but acquire profitable assets.

[lizarder]

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

Not all of them are like that because I have seen firsthand poor people who have inheritances can develop their wealth to be more. Sometimes poor people also have the best ability to see potential and generally their mentality can be formed over time. Kira often hears that poor people have a weak mentality and that is not wrong because it is generally the case. But some poor people actually have more ideas in achieving success if they have the opportunity or capital.

The proof is that we see some poor people succeed in changing their fate for the better and they are able to achieve wealth from the hard work process that they build from scratch. In terms of individuals, we will be formed based on experience, only the chances and opportunities may be different and if everyone has one opportunity that can be utilized, perhaps everyone can achieve success if they are serious about pursuing it.

[MArsland]

If you ask what the difference is between the rich and poor, the overwhelming response will be MONEY, this is true but it goes deeper, a major factor is also their mindsets. The rich creates wealth but the poor doesn't, most poor people don't think outside their comfort zones. Rich people invests their money and from the profits they can buy whatever they desire but the poor buys liabilities that depreciates. Rich people builds wealth and it continues to generate money for them, they keep reinvesting and diversifying their income to generate more wealth. But if you give most poor people huge amounts of money, instead of investing it in a profitable investment like Bitcoin they will use the money to buy material things that they have been dreaming of like a car or buying that room size TV that they have been dreaming to own.

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

Rich people -> mindset -> mental -> needs, after you are rich what do you need?
Poor people -> mindset -> mental -> needs, when you are poor what do you need?
That's how both of them view what must be fulfilled, so of course the direction will be opposite. I will not judge poverty or poor people just because they get the jackpot spending what they couldn't buy when they were poor.

Everything is inseparable from mindset, mental and needs, but have you ever heard of people who went bankrupt to become homeless and poor people who continue to rise to survive and accept reality to continue to enjoy life sufficiently?

[Jwest]

The rich have access to knowledge, networks, and capital to buy assets.
The poor often lack resources or education about how to use money differently, and are often targeted by consumer culture.
Mindset matters: Financial literacy plays a big role in what people prioritize, short-term satisfaction vs long-term growth.

but the truth is being poor isn’t just bad choices, it’s often structural:
Low wages
High cost of living
Lack of access to credit or education
Many poor people want to invest, they just don’t have enough margin.
Some wealthy people also buy liabilities, wealth doesn’t equal wisdom.
Financial habits often separate the rich from the poor over time.
But: It's not just about choices, it's also about access, education, and opportunity.

[Astt12]

There is a certain difference between rich and poor people. If a rich person is given money, he will try to use that money for investment, on the other hand, if a poor person is given money in on the same way, he will try to spend that money. The rich person will benefit from his investment, while the poor person will lose his wealth. That is why the rich are getting richer and the poor are getting poorer.

[Tmoonz]

I think we all have different ways we approach things. All the rich and the poor don't have the same reasoning. I hate it when everyone is grouped the same, they have the same character when financial opportunities are given or arise.

There are some poor people who will be given or earn a huge sum of money, they will make something huge from the money. Let's not forget that not all the rich people today were born rich. Many from poor homes. It's from the little earnings they had, they utilize it very well in their running business, in years to come, the money was multiplied through the business started or investment made.

I understood the point you are driving at and to add more to it the topic concept would have been much better if presented in such a way that it's expression conception was centered on on individual mindsets like having a kind of definition for an individual with rich mindset and that of the one with a poor mindset because for the rich there must be an origination either some one has already paid the price and others inherited it, some times am not always comfortable talking about or making or any forms of comparison between those that are poor and the rich because their can never be an equality in such financial social stratification, there must always be the rich and the poor meaning one must be bigger than the others we can never be equal it is a certainty.

[Republikcoin.com]

There is a certain difference between rich and poor people. If a rich person is given money, he will try to use that money for investment, on the other hand, if a poor person is given money in on the same way, he will try to spend that money. The rich person will benefit from his investment, while the poor person will lose his wealth. That is why the rich are getting richer and the poor are getting poorer.

Maybe you only see examples like that in poor people who are wrong where the poor person does not have a rich mentality to fix himself when someone gives him money for free. Because I have seen poor people who have a sense of struggle to make themselves no longer poor when they already have a little capital that they can use so that poor people like that are the ones who really have good thoughts and the mentality to become rich with minimal capital. While rich people who are given money for free will certainly not have any effect because they themselves are used to having a lot of money and can even always make more money without being given by others.

[Free Market Capitalist]

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

You don't tell anything new but it's not bad to remember it and I like the example you give. It's not so much about being rich or poor, but about mentalities. Even without getting to the inheritance example, someone who is poor but can save say $20 a week will invest it in some asset, like bitcoin, or some index fund, things like that (since buying a house or setting up a business requires more capital). But also, normally that person will end up, with that mentality, increasing his income and probably finding new sources of income, so that over time he will be able to invest more and make the ball bigger.

[Mame89]

There is a certain difference between rich and poor people. If a rich person is given money, he will try to use that money for investment, on the other hand, if a poor person is given money in on the same way, he will try to spend that money. The rich person will benefit from his investment, while the poor person will lose his wealth. That is why the rich are getting richer and the poor are getting poorer.

This is a matter of mindset and financial literacy, so what is said is true. If the mindset is only to enjoy luxury in the short term, then no matter how much money is earned, the money will run out in a short time. However, if they have a mindset to be rich, then they will use the money to earn income by investing and doing business. All of that is only because of the mindset, therefore it is very important to provide financial literacy from an early age so that they can have a good mindset for the future. Even children of rich people, if they inherit their parents' wealth but without a good mindset, their inheritance will run out in the short term.

Currently, many people think that poverty is just a matter of fate. In fact, most of it is not because of that, but rather because of the mindset. And there are several things that make them not have the mindset to be rich and make them always poor, first they are afraid to start because they are afraid of failure, second they don't want to learn, third they are lazy and always look for reasons not solutions and finally the most dangerous is having an arrogant attitude.

[Chilwell]

We have different mentality and ways of thinking. What some people are saying now, is sounding as if all the poors are the same and sincerely speaking, that is not the case. Some poor people lack financial literacy and always spend whatever money that comes into their hands just to impress people, and the same thing also applied to some rich people must expecially their kids. They only know how to lavish money and also some of them are so arrogant.

The personality of some people lack the sprit of struggling, that's what is affecting them and preventing them from hustling which make them lazy. And you can't sit in one place and expect yourself to be rich. No one is born with a silver, every successful person work hard for them to rich where they are today. A child that is born in enjoyment and living a luxurious, is probably because someone (their parents) has suffered for them before.

[mindrust]

That’s the main idea of Robert Kiyosaki’s best seller “Rich Dad Poor Dad”.

That’s why many lottery winners or crypto rich people end up poor as well because they didn’t spend time to structure themselves a rich person’s mindset. These people are usually not trained to handle big money and they mess it up quickly after they got lucky with their probably only chance.

Winning once is one thing, winning all the time is a whole another thing.

Rich people stay rich because they created a system which wins all the time. They don’t depend on luck.

[Helena Yu]

It's because the rich have a lot money, hence they buys wealth.

The poor can't buy wealth because they have limited of money, hence they buys liability.

You can't blame the poor in this case, they might buys liability now, but if they have a good financial management and keep improving themselves, they can buy wealth in the future.

[Justbillywitt]

The mistake most people make in this life is that they think giving yourself some level of comfort is luxury. I don't really think that buying your self a good TV or getting yourself a car is all waste of money. Get these things if you can afford them. What I don't like is spending money recklessly on clubbing and women. There some businesses that you will be into that will require to own a car if you want to be considered for bigger briefs. There are some contract bidding you will go for, some client will prefer to give the job to someone who pull up in a car than some one who don't own a car. Some people we think they just got a car for flexing may not actually be the reason they got the car. Some got the car to give their business an edge over their competitors.