The Rich Man Syndrome: A Lesson in Rich vs Wealthy

Facebook.com/VogueMaven

Image by C.Mitchell

  So I'm sitting there at the bar with my friend talking about cheap clients in the business world; those individuals who believe that spending their money enables them to talk to and deal with individuals in any manner. Somehow this conversation produced a tangent conversation about potential dwellings I was recently looking at.  I say: "This spot is cool, it's $500 and I know it's not that much, but I'm a grinder trying to fund an independent projects right now". I'm quickly interrupted with his rebuttle: "$500 is a lot of money, Wealthy people realize that.  Some people get Rich and blow everything like they'll always have it". 

  And then came the epiphany of "The Rich Man Syndrome". Sure we use the term Rich and Wealthy synonymously, but we've all met rich people; obnoxious, can't tell them anything, stingy, greedy, middle manning, irrational spenders, and did I mention you can't tell them anything? And then we've met Wealthy people; generous, open to ideas, logically spenders (especially for what they truly need).  Rich people see the limitations and the cost while wealthy people count the opportunity cost while seeing the possibilities. 

Rich people...

a. spend their money on things that make them feel good

b. try to use their money as a source of power and bargaining chip.

c. are cheap and/or want the cheapest bargain. These individuals hardly realize that nothing is free or 

    that "you get what you pay for"

d. settle on trading money for time

Wealthy people...

a. are rich as a by-product of good decisions; their mind is their power

b. see the bigger picture in the long term. They will pass up the $100 chance today for tomorrow's 

    $1000

c. trade time for results; A man with a wealthy mindset would trade his time working toward a goal

    that would increase revenue, such as a tool or advertising, if it were more valuable than the actual  

    money they would receive.

d. will spend on that which makes more money and pay well for it.

  Here, letter D is one of the most important aspects of a Wealthy individual. They despise the "free lunch" and they realize far to well nothing is ever free. Every "free" favor comes at a cost at the end even if it's simply just some form of a headache, which is a cost far too great for any visionary with a Wealthy Mindset.

    

A rich man who becomes poor in income may never recover; but a wealthy man, no matter how poor he becomes, can always become rich for he has the blueprint!


C.Mitchell for Vogue Maven
Facebook.com/VogueMaven