The Top 10 Distinctions Between Millionaires and the Middle Class

I went to Borders Book Store recently. It was really sad because they are going out of business. Looking through the almost bare bookshelves, I came across this book called The Top 10 Distinctions Between Millionaires and the Middle Class by Keith Cameron Smith. Skimming through the pages, I was intrigued and decided to purchase it. After leaving the book store, I had other errands to tend to, but I could not stop thinking about the book. Once arriving at the grocery store I decided to read a couple pages before going in. This led to me reading the entire book in the parking lot of the grocery store. Believe me folks when I tell you that I had no intentions of reading the whole thing. I just couldn’t put it down.

I have this strong desire to be rich and successful. Why? Because being poor and unsuccessful is not working for me. To be honest with you, I don’t think it is working out for a lot of people. Digging a little deeper, my desire for success and financial freedom comes from observing my surroundings and knowing what I could possibly be faced with once I reach retirement age. Will I be able to live a comfortable retirement life? Will it be feasible for me to live off of my retirement? Will social security exist when I retire? Will there be more strong hits to my 401k, resulting in me losing thousands of more dollars? There are so many uncertainties; and so many things that I have no control over. I want control. I need it! Control is no longer a want it is a need. It is a necessity for me.

The reason why I could not put this book down is because it shined a light on many things that have held me back; things that I was unaware of.

Here are a few things I learn about the rich from reading this book:

  • Millionaires don’t let fear hold them back. They know that knowledge can overcome fear.
  • The middle class are too afraid to take risk, while the rich take calculated risk.
  • The rich plan for the long-term, knowing that in order to make more money they must work for profits. The middle class are short-term thinkers; they prefer to work for wages instead of profits.
  • Rich people’s education does not stop once they finish school. They attend seminars, hire coaches and mentors. They are avid readers; some read one book a week.
  • The rich have multiple source of income; the middle class have one or two.

I really enjoyed how he shared some personal stories about his life and how he enjoys being generous with his money. I know that there are some rich people who exploit poor people, but there are a lot of generous millionaires out there who truly enjoy philanthropy.

I have a new weekly goal. I am going to read at least one book a week. The Richest Man In Babylon by George S. Clason is the next book on my list, followed by Crush It written by Gary Vaynerchuk.