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10 things the world’s richest people will never tell you



We don’t like to spend

The rich and famous may be known for extravagant and lavish lifestyles but some of the world’s wealthiest people actually lead a life of careful, thrifty spending. For example, stock market giant Warren Buffet is worth nearly $60 billion and he still lives in the same modest home in Omaha, Nebraska, that he purchased in 1958. He is also very selective in his stock market purchases, often refusing to purchase stocks for decades until they reach the lowest price he considers reasonable. Not because he can’t afford to buy them anytime, but because he is frugal and always looking for ways to maximize his earnings. This pennywise approach to business is what has made him such a success.

[sagi58]

We hate taxes too

While the rich don’t often like to complain to the middle class, they are just as bothered by high taxation as you are. In Canada, the rich are taxed accordingly, so although they do earn more, they are paying more in taxes than average income earners. They aren’t simply sitting at home counting their dollar bills. They are dishing out more than half of their net income in some provinces, paying into all the same services everyone pays into. True, they may still be left with more at the end of the day than the average Joe, but the bottom line is no matter how much money you have, everyone hates taxes.

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We take more risks than most people

One of the main differences between the rich and the middle class is that the rich take risks, which is likely how they achieved such success. There are few ways to increase your income significantly without taking some sort of financial risk. Of course, that’s not to say it’s all dependent on luck or that you should take a huge risk tomorrow in an effort to become a millionaire. On the contrary, some of the most successful people in the world have taken only very calculated risks. By assessing a situation from all viewpoints, and getting some professional opinions to help out, a calculated risk can have significant gain for someone willing to give it a shot.

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We can afford to spend less

The rich may not like to flaunt this very often, but they can actually afford to save more money than the middle class, even though they don’t need to save quite as much as everyone else does. How? With money in the bank, the rich can make purchases at any time, whenever the prices are lowest. Also, the rich can afford to dish out more money up front to buy in bulk and save more in the long run.

Someone on a fixed budget may not be able to take advantage of these types of long-term, cost-saving tactics. But if possible, this would be a good thing to factor into your budget planning. Don’t look at how much you’re spending today. Instead, look at your overall view and see how much money you could save long-term by adopting this buying technique.

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We keep getting richer and richer

Money makes money. Once a person has obtained a significant amount of personal wealth, they can increase that money substantially in several ways, like investing in the stock market or buying real estate. It may be difficult to earn the initial amount but once they have it, the rich just continue to get richer. This can serve as a great lesson to the middle class to spend and invest wisely, rather than splurging on luxuries whenever their tax returns come in.

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Sometimes, we were just lucky



They may not be willing to readily admit it, but sometimes, the world’s most successful people just happened to be in the right place at the right time. Just ask supermodel Gisele Bündchen, who was discovered at an ice cream shop in Brazil. Not every wealthy person in the world ruthlessly climbed the corporate ladder. Sometimes a stroke of luck, meeting the right contact, calling the right company, or being noticed by the right person is how they got started on their successful path — though they may not be so quick to admit it.

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We work 24/7

Although some millionaires just happened upon a stroke of luck, many achieved their success through hard work. And that work doesn’t only happen between the hours of 9:00 a.m. and 5:00 p.m. A true entrepreneur, and someone who has a better chance at being financially successful, is someone who sees opportunity everywhere and doesn’t check out of business thinking on nights and weekends. In order to be and remain successful, the mind never quits, never stops looking for ways to expand, and never punches out.

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We challenge ourselves


Some of the world’s wealthiest people are in a successful position because they continue to challenge themselves every day. There is no plateau, and no giving up. Billionaire Richard Branson has said his biggest motivation is to keep challenging himself. This continued effort to work hard no matter how much success has already been achieved is often the defining characteristic of the wealthy. A passion for success and self-improvement just might be the difference between you and Mr. Branson.

[sagi58]

We don’t feel entitled


Contrary to what many people may think of the wealthy, they don’t all feel a sense of entitlement. In fact, having a sense of entitlement could be what’s standing in your way of success. The key to achieving success is continuing to work toward it every day. Multi-millionaires like Donald Trump continue to work hard to expand their businesses, and never sit back and simply enjoy the money rolling in. Trump’s passion for success is what drives him, not a sense of entitlement. He says, “I don’t make deals for the money. I have enough, much more than I’ll ever need. I do it to do it.”

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We have to avoid temptation, too


While millionaires have much more money at their disposal than the average income earner, they do still have to avoid the temptation to overspend. It’s not uncommon for Hollywood millionaires to go bankrupt — like Larry King, Mickey Rooney, even Elvis Presley at one point — and not because they didn’t earn enough but because they spent far too much. Money troubles aren’t solved with more money, unless you learn to use that money wisely and avoid the temptation to overspend on frivolous or unnecessary things.