Wealth Psychology – Dirty Little Secrets

Wealth Psychology – Dirty Little Secrets

I’m a professor and I’ve been
researching the psychology of wealth for years now in our studies we’ve
discovered some secrets that the wealthy know that the middle class does not in
the right hands these secrets can help you climb the socio-economic ladder and
join the ranks of the wealthy in this video I’m gonna pull back that curtain
and share the secrets of wealth creation with you coming up hey we’re just
meeting for the first time my name is Dr. Brad Klontz let’s get right into it
here are three wealth secrets just for you
secret number one rich people are actually a bunch of losers I bet you
didn’t see that one coming did you the average millionaire experiences about
three major financial catastrophes before making it I mean gut wrenching
money losing totally embarrassing failures now how many big failures do
you think the average non-millionaire has slightly less than one so what does
this tell you it means that non millionaires either don’t take the risk
of stepping out of their comfort zone to try something new or they do take a shot
at success but give up after the first failure so apparently it it pays to lose
so if you want to become wealthy you can’t let failure keep you down when
asked about all of his failures in trying to create a light bulb Thomas
Edison said I haven’t failed I’ve just found 10,000 that won’t work so if you
want to grow your net worth you can’t let a few failures get you down
apparently you need about three to really teach you how to not become
wealthy we learned so much about ourselves and what it takes to succeed
after a failure so if you want to succeed get out there and fail some more
well secret number two rich people actually made themselves rich a common
misperception about wealth is that you can’t become wealthy unless you were
born rich a survey from Fidelity Investments found that 88% of
millionaires were self-made it wasn’t given to them they created in
our study on the psychology of wealth we found that three out of four ultra
wealthy individuals were self-made they also went to public school not some sort
of fancy private school they weren’t born with a silver spoon in their mouths
I’m sure you’ve heard the saying it takes money to make money
wrong it actually takes hard work and smart work to make money a big part of
playing it smart is to surround yourself with experts who can
help keep you on the right track and keep you from doing something stupid but
there’s something even more important than making your own money when it comes
to wealth this leads us to wealth secret number three now this secret is a
challenge for most non wealthy people to grasp because they’ve been sold a lie
and it’s really difficult for them to believe what I’m about to tell you are
you ready for it wealthy people save money they don’t
spend it we’re bombarded on social media magazines and televisions with a big lie
about wealthy people this lie makes us feel bad about ourselves it makes us
feel like we’re missing out it’s a very destructive lie that leads people to
overspend rack up debt and sabotage their success the lie is that rich
people are big spenders they drive really nice cars they all wear Rolexes
take lavish vacations and live on sprawling country estates oh it’s so
seductive but it’s not true books like The Millionaire Next Door and
our research on the psychology of wealth prove this point for example in our
study we found that the ultra wealthy had 18 times more money than the
middle-class but they spent only twice as much on things like cars watches
vacations and cars the problem with this lie is that if you believe it you’re
gonna be very tempted to blow your money living like rich people live before you
even get a chance to become wealthy if you want to learn more about our
research on the psychology of wealth check out this video here if you liked
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1 Comment

  1. Dr. Brad Klontz says:

    Do you think failure is important in one's ability to experience success? Let me know in the comments below.

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