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The rich think very differently to the poor

The “Rich” and “Poor” share very different beliefs according to a 5 year study by best selling American author Tom Corley.

He explains that our subconscious makes up 5/6ths of our brain and responds to our beliefs.

Like software code, our beliefs direct our subconscious to manifest that which we think about and believe in.

If we believe, without any doubts, that we are going to become wealthy and successful in life, our subconscious makes it happen.

How? rich poor wealth income gap

There is something in our brain called the Reticular Activating System which acts as a a data filter.

The RAS filters this data, eliminating most of it, and allowing in only that data the subconscious has been programmed to allow in.

Our brain is constantly bombarded with millions of bits of information coming in from our senses.

Some of this programming is old programming, hardwired into our brains through millions of years of evolution, and some of it is new programming, hardwired into our brains by our parents, environment (particularly when we were young) and our self-talk.

What the Wealthy and Poor Believe

From the research data Corley accumulated over a 9 year period, it is clear that the wealthy and the poor have very different beliefs and that these beliefs are a major contributing factor in their wealth or poverty.

In his 5 year study he looked at the data:

What the poor believe:rich poor

  • 87% of poor people believe you must be intellectually gifted in order to become wealthy
  • 90% of poor people believe fate determines your wealth or poverty in life
  • Only 13% of poor people believed they would be successful in life
  • Only 11% of the poor believe creativity is critical to financial success
  • 80% of the poor believe genes are critical to success
  • 82% of the poor believe they are not responsible for their poverty
  • 77% of the poor believe lying is a prerequisite for accumulating wealth
  • 90% of the poor believe rich people are rich because their parents were rich and they inherited money
  • Only 22% of poor people believe optimism is important to success
  • Only 5% of poor people believe rich people are good, hardworking and honest
  • 52% of poor people believe wealth is accidental; a function of random luck

Now let’s look at what the rich believe:

  • Only 10% of rich people believe you must be intellectually gifted in order to become wealthy
  • Only 10% of rich people believe fate determines your wealth or poverty in life
  • 43% of rich people believed they would be successful in liferich
  • 75% of the rich believe creativity is critical to financial success
  • Only 6% of the rich believe genes are critical to success
  • 79% of the rich believe they are the cause of their financial condition
  • Only 15% of the rich believe lying is a prerequisite for accumulating wealth
  • Only 5% of the rich believe people are rich because their parents were rich and they inherited money
  • 54% of rich people believe optimism is important to success
  • 78% of rich people believe that rich people are good, hardworking and honest
  • Only 4% of rich people believe wealth is accidental; a function of random luck

Corley explains that…

If you want to become wealthy you need to change your beliefs.

Most of these beliefs were handed down to you by your parents, your environment or through your own doing.

If you want to change your beliefs you need to reprogram you subconscious which he says you can do through Daily Affirmations and Visualizations.

I disagree…

Now Tom’s become a good friend and we share many common beliefs, but while I agree with the basic premise that your beliefs control your feelings and your feelings control your actions and results, but I disagree that you can permanently change your subconscious ingrained thoughts and feelings with affirmations and visualisation. business data success

It’s a bit like “The Secret” which said that what you think about the most you become.

It takes a lot more than positive thoughts to permanently change your beliefs  – it needs specially designed exercises and repetition to remove your non supportive beliefs and replace them with more supportive beliefs.Rubbish! If that was the case my 24 year old son Harrison would become a female!

Interestingly that’s why I have designed a 12 month Mentorship Program – to change the way you think about money and wealth.

It’s designed to change your beliefs but as I say, it’s a lot more than rah rah or feel good sessions.

My Mentorship Program has been running for over 10 years now and many of the participants have had outstanding results.

In that time I’ve mentored over 2,000 successful property invetsors, business people and entepreneurs.

Click here now and learn all about it and let me be your mentor and part of your wealth creation journey.

Why not find out more about it now – just click here



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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'The rich think very differently to the poor' have 23 comments

  1. Avatar for Property Update

    July 9, 2014 @ 5:06 am Dan

    It would be interesting to see how many of these “rich” people were self made or come from a family with money.

    Reply

    • Avatar for Property Update

      July 9, 2014 @ 7:10 am Michael Yardney

      Dan
      When I wrote about the recent BRW Rich 200 list I said:

      While several inherited some of their fortune, many on the Rich List were self-made successes, some coming from working class backgrounds.
      Attending a private school or having an elite education is clearly not a prerequisite to joining Australia’s wealthy. While some forged important networks at school, many went to public schools and others didn’t even finish high school. In fact many did not have tertiary qualifications.
      You can read the full article here: http://propertyupdate.com.au/11-lessons-brw-rich-200-list/

      Reply

  2. Avatar for Property Update

    July 9, 2014 @ 11:27 am Michael Correll

    I’m sure many post-war immigrants from Greece and Italy to Australia escaped from rural poverty without much education to become successful as land-owners and sent their children to university to join the professions. My own paternal family left rural poverty and lack of opportunity in the Punjab, now Pakistan, to become successful in law in Singapore. My father Nazir Mallal somehow became a Middle Templar in London and my uncle Bashir Mallal was granted a Doctor of Law from Singapore National University.
    I guess success came for them as a result of hard work and creativity.

    Reply

  3. Avatar for Property Update

    July 9, 2014 @ 1:31 pm shane

    Hi Michael , what happened to, everyone is responsible for there own actions, destiny is in our own hands, not our parents, not the government, but you as a person and with the right mind set and knowledge anything is possible and the rewards will come. When you look at Wealthy person say to yourself that will be me one day.

    Reply

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      July 9, 2014 @ 6:00 pm Michael Yardney

      Shane you are right

      You should be the pilot of your life – not a passenger going along for a journey. Everything that happens to you is the result of the things you chose to do and the things you chose not to do.

      Reply

  4. Avatar for Property Update

    July 9, 2014 @ 6:37 pm Michael

    I have had so many people tell me how lucky I have been, I just smile and say nothing. Its very hard to explain to those that think it is all luck that you have worked long and very hard over the years to accumulate what you have.

    Reply

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      July 9, 2014 @ 6:39 pm Michael Yardney

      Well said Michael – no question about it – the harder you work the luckier you get

      Reply

  5. Avatar for Property Update

    July 9, 2014 @ 6:45 pm rene

    I have met 3 people who became very wealthy in their businesses despite not being able to read. I have also known several successful wealthy people who have no qualifications and who actually did not do very well at school.

    Reply

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      July 9, 2014 @ 6:50 pm Michael Yardney

      You’re right Rene
      With the right mindset, nothing will stop you

      Reply

  6. Avatar for Property Update

    July 9, 2014 @ 7:28 pm Tanya

    There is still time for your son to become a female. If that’s all he thinks about he will make it happen.

    Reply

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      July 9, 2014 @ 7:45 pm Michael Yardney

      Thanks for that advice Tanya :)
      I hope he hasn’t read the blog today

      Reply

  7. Avatar for Property Update

    July 10, 2014 @ 12:47 pm Dina

    I worked 3 jobs as a nurse, running from one shift to the next, to the next, I literally worked around the clock on some days of my week, because nurses wages were so poor, and I needed the cashflow to buy property. I worked like that for 1 year to get ahead, Im still working 2 jobs and I still earn only $34ph in aged care as a registered nurse and now well into my 50’s. Im retiring end of the year. Has it paid off? hell yeh.

    Reply

  8. Avatar for Property Update

    July 10, 2014 @ 7:25 pm THOMAS

    I agree with Michael – Corley’s conclusion is, at best, half of the required steps. You might be able to change your mindset such that you’ll change how you view something, but there’s a whole lot of psychology involved in taking action, making a commitment and sticking with it – the psychology of investing. You still need the courage, after however much you get the numbers to look right on paper, to take action with conviction, and to keep a cool head when little bumps in the road emerge. That, I believe – when you have your money at stake – can only be gained through action.

    As for the beliefs of “poor”, well, they only have to read the views of the rich to realise that they’re wrong. That’s just fact – compare the results of the rich versus those of the poor: fact. Hence, take action according to the views (they’re not just beliefs) that achieve desired results.

    Reply

  9. Avatar for Property Update

    July 10, 2014 @ 7:40 pm THOMAS

    I agree with Michael – Corley’s conclusion is, at best, half of the required steps. You might be able to change your mindset such that you’ll change how you view something, but there’s a whole lot of psychology involved in taking action, making a commitment and sticking with it – the psychology of investing. You still need the courage, after however much you get the numbers to look right on paper, to take action with conviction, and to keep a cool head when little bumps in the road emerge. That, I believe – when you have your money at stake – can only be gained through action.

    As for the beliefs of “poor”, well, they only have to read the views of the rich to realise that they’re wrong. That’s just fact – compare the results of the rich versus those of the poor: fact. Hence, take action according to their views (they’re not just beliefs) that achieve desired results.

    Reply

  10. Avatar for Property Update

    July 10, 2014 @ 7:51 pm THOMAS

    I’ll just add to my last post – where change or good fortune does come into determining the results we achieve, is the conditioning to which we are exposed as we grow from baby-hood. For this no-body takes responsibility at the critical time – when it’s happening.

    Guys, we have so much to say about “you can take responsibility to change your world – everything you need is in you now” etc.
    I want to create a reality where everyone is cognisant of their role in the experiences of those around them – be they parents, siblings, “friends”, class mates, colleagues – and how those experiences are shaping that person’s view of themselves and their world of possibilities.

    Who wants to join me to devise a societal process / mentality wherein children are educated with the positive views, ideals and beliefs from the word go – and not after they’ve grown up into adults and feel unfulfilled etc?

    Reply

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      July 10, 2014 @ 8:04 pm Michael Yardney

      2 great comments. Thanks Thomas

      Reply

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        July 13, 2014 @ 9:44 pm Mark Nicholl

        The Australian ‘tall poppy syndrome’ is also a factor if you’re successful in Australia. I ask my friends the question, who of these two people deserves to be rich. Person 1 runs her own business, getting up at 6am everyday and finishing at 7pm every night, and investing her profits. Or Person B, who has never worked, lives in a poor area, and is considered an ‘Aussie Battler’, but wins lotto (and subsequently gambles it all away). Which person deserves to be rich?

        Reply

  11. Avatar for Property Update

    January 28, 2015 @ 11:01 am Gary Johnston

    Michael, in fact it doesn’t take long to reprogram beliefs, or more importantly Values, which are the real drivers around behaviour, emotional states and thought processes. I am a psychotherapist with 35 years experience in changing thinking, behaviours and emotions, specialising in anxiety disorders. In most cases reprogramming can take as little as a few minutes to produce permanent change. Then clients can get on with their new productive lives. Take a look at the Success Skills Program at http://www.gmfint.com/gmf-neuro-com/the-success-skills-program/. If you are interested in getting great results for your clients you may want to talk to me about is :)

    Reply

  12. Avatar for Property Update

    January 29, 2015 @ 12:34 am Bill O'Brien

    Hi Michael,
    I have a look at what you’re doing sometimes to keep my information base as wide as possible. Thanks.
    I’ve been working for many years on the many different approaches there are to getting to the bottom of ourselves and making the changes/improvements that are necessary to get over the behaviours/thoughts that undermine our success. I’ve recently read, “Transform your Beliefs, Transform Your Life” by Karl Dawson and friend. This is very powerful and the next big step in the evolution of how we self-manage ourselves. It’s not just a must read but a must take action on, sort of subject once you have a handle on the basics.
    Best to All,
    Bill

    Reply

  13. Avatar for Property Update

    January 31, 2015 @ 3:40 am Marc

    Rich in what sense? My strategy is Do what you think matters and find sonething that pays for some of it
    The payoff is high levels of motivation and enthusiasm and a happy life. Sometimes this aspect is overlooked in terms invest comprises Success. There is wide evidence that money tapers off as s motivator at around average income amazingly, so don’t neglect your passions!

    Reply

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      January 31, 2015 @ 10:16 am Michael Yardney

      Marc
      If you’ve followed my blogs for a while,you’ll know I agree that true “wealth” has nothing to do with how much money you have.

      Reply


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