What’s the one thing that rich people buy that the poor and middle class don’t?
– What’s the one thing that rich people buy that the poor and middle class don’t? So you see it on Instagram, you see it on Facebook and sometimes you’ll see it on YouTube, that you see that rich person they have these nice watches, and they drive the Lamborghini, the Ferrari, you know, the Bentley. They stay in luxurious hotels. They have huge houses. And all these things that they buy. And that’s what people see rich people, that’s what they have. But that’s not actually what got them there, right?
So what do they actually buy? Rich people, one thing that they buy is, they buy assets that the poor and the middle class don’t. Now, what are assets? I’m talking about income-producing assets. Assets that appreciate it. Assets that will make them money. So example, it could be a piece of real estate. It could be an apartment building. It could be a company. It could be stock. Any assets, investments that would put money in their pocket versus poor and middle class.
What do they buy? They buy liabilities. If you study a little bit about what Robert Kiyosaki’s Rich Dad Poor Dad, you know that the definition of assets. Its assets are things that put money in your pocket. And most middle class they buy liabilities, such as their home, their primary residence. That they think is an asset. Which is not because the asset is supposed to make you money while you sleep. Versus liabilities are to eat you, it takes away money from you while you sleep. And you look at poor, middle class, you look at their financial statements, very often they have very little or no assets, zero assets and they have a lot of liabilities, their home, their car and all that stuff. But they have very little assets. So rich people, they buy assets first.
Then the assets buy our luxuries. Versus the other way around. I’ll give you a perfect example, so instead of asking yourself, saying to yourself, “Oh, I can’t afford that, it’s too expensive.” Rich people, that’s not how we think. That’s a very low-level poor person mentality. “I can’t afford it.” Right? Rich people, we ask the question, not only how could I afford it, but how can I make this make me money? How can I make this make me money? So instead of thinking, let’s say for, this car, so I could have just bought this Bentley any time. But I waited for a period of time because I set a goal and said, “OK instead of just buying “a liability, I need to buy the asset first. “So I need to buy an asset “that will throw off enough cash flow,” in my case a piece of real estate, “enough cash flow, that I know that would cover “my monthly payment of my Bentley.” Right? So instead of me just buying a Bentley which then I have to pay for myself from my own pocket. I say, “OK, let me go through a step, “let me buy the asset, that’s one thing, “buy the asset first, “when the asset throws enough cash flow “that pays for my luxuries.” That pays for the car that we’re filming in. So even though when this car, I was a change two-three years, when this car, when I no longer drive it, when I sell it, whatever it is. Guess what? I still have the asset that’s working for me. That’s the difference.
We buy, rich people, we buy nice things. We buy the nicest things. The difference is we don’t want to use our own money. We buy the assets first, we invest first, we buy the investments first, then we buy liabilities. The definition of rich people, the rich is simple. Rich people we are entrepreneurs who invest. I’ll say that again. We are the entrepreneurs who invest. Verus, even if you’re a business owner, instead of just buying stuff for your business, make the money from your business first, right? And then you can put it into investments. If you watch dan lock triangle videos, you know he talk about the three stages, right? If you have not watched you can watch the video by clicking here.
So high income skills and then on top of your scalable business and on top of your high return investments. So rich people are entrepreneurs who invest. So that’s the one thing that rich people buy that the poor and middle class do not. Let me give you one more tip. There’s one thing, that we also buy, that the poor and middle class do not. And that is, rich people buy time, poor people sell time. Rich people buy time, poor people sell time. The thing about people who are struggling financially or employees they sell their time. They get paid based on their time. How many hours I get, how many hours I work, how much do I get paid per hour, or how much do I get paid per month or bi-weekly that’s how most people think. Rich people we don’t do that, we buy time. We buy time because time is the one thing that you can not replace. This second that you’re reading this article, that second is gone. .You can’t replace. The customer is replaceable. Money is replaceable. Time is not. I cannot create, manufacture more time.
The money I can always make more money. If I have the time. If I run out of time I cannot do that. That’s why the time for rich people is the most valuable commodity. That’s why I fucking hate it when people waste my time. It’s worse than stealing from me. It’s worse than stealing money from me. Because money, I can always make it back. The minute that I waste, I cannot get it back. And if I use the time wisely, I could use it to make a lot of money. So the reason we buy time, we buy talents, we buy people, we buy people that can help us, we buy people that can save us time. So that’s why the two hours that you spend you know about cleaning your home or doing all the stuff, mowing your lawn.
You know, a quick story, one-time danlock was visiting a pretty successful CEO, the company’s probably doing $20, $30 million a year. And he visits his office and he went to his office and He couldn’t believe it. The minute he got there he was mowing the lawns in front of his office. He was like what the fuck was that? Right? Right there it tells him, my god, this CEO does not value his time. The two hours he spent mowing the lawns, he couldn’t have found better things to do? He couldn’t have found better ways to invest his time? He couldn’t have found a better way to utilize his talents? He’s mowing the fucking lawn, seriously, right? It makes no sense. When danlock talk with him, he was giving him a hard time, right? So rich people, we don’t just think of return on investment. That’s one of the words that you’ve got to learn, ROI. We think in terms of return on investment. Your assets, your liability, but we also think in terms of return on time invested. Return on, ROTI, return on time invested. That dan lock invest this time doing this thing, what’s his return? Right?
So he knows if he spends two hours watching the movie, that movie, then doesn’t just cost me $20, $30, $40. That movie cost me thousands of dollars, if not tens of thousands of dollars. Then he know that when he watch a movie, he have to ask himself, and not that he don’t watch movies, he love watching movies. But he know also realistically that is not a $40 thing. That cost him tens of thousands of dollars. So then he need to ask himself, “OK, it’s the escape, it’s the experience, is that worth that kind of money?” And he look at and he say, “OK you know what? It is. It is.” If danlock take the time off and spending with my family that hour costs me money but I’m willing to spend that. Very consciously, versus people who have concept, very consciously, he know that he is investing his time, that’s worth X amount of dollars, with spending, I’m not trying to make money from this hour, two hours, he is spending with them. He is investing in that time. And when you think of it that way, guess what? You’ll be more present. That’s why every time he watch a movie, rarely he say a movie is so bad, no it’s OK, at least he can justify a little bit mentally that shit this movie just cost me fucking $20,000 it’s pretty good. Right, it’s $20,000 of my time, right? So joking aside, that’s what it is. You’ve got to think of it that way, how you value your time. So that’s what rich people do, rich people buy time. If you don’t value your time you’re not going to be successful. You have to value your time. Everything, Bill Gates has appointment, booking, six-minute increment. Six-minute increment in his calendar. That’s a billionaire, right? His mentor has him in 15-minute increments. Now he also has my thing, sometimes 30 sometimes 15-minute increment. How you manage your time, how you invest your time, your most valuable investment that you have. So there you go, that’s what rich people buy, the one thing that they buy that the poor and middle class don’t. Don’t look at just what they have, their fancy car and that’s the thing. Before we go. Because maybe when you have no money, you’ve been struggling for so long, you have been working hard for so long. And suddenly when you make a little bit of money and all the image that you have about rich people, all the nice things, the nice car, all the things that they have. Suddenly you make a little bit of money, He is not talking about a lot of money, a little bit of money, and you say I want a fucking, I’ve worked 15, I waited for 10 to 20 to 30 years for this. Fuck it, I want that life. And you go spend your money and you think by spending that money that makes you rich. That makes you fucking poor. That doesn’t make you rich. You only see the surface, you see the result, you see the outcome, you don’t look at the fucking process. Look at how they got rich. They buy the assets first. Before they buy their fancy watch, they buy the investment. The investment makes them money, then they buy the fancy watch. But you don’t want to do that, suddenly you make a little bit of money because you’re so fucking insecure, you gotta big fucking ego, you want to show the world, you want to show your family that you’ve fucking quote-unquote made it, which you haven’t, you want to look rich versus be rich. You go buy that fucking watch and you know what? You wear that watch and you thought you fucking made it. Everybody thought you made it.
You did not make it, you just made yourself poorer. That’s not what makes you rich. But if you can have the self-discipline and self-control and say you know what I’m gonna buy the assets first, I’m gonna buy the assets first, once you buy that and the assets you can buy all the fucking luxuries you want. Your assets pays for it. It’s OK, buy the nice things you want. It doesn’t quote-unquote cost you because you’re investments are providing for you. Investments are feeding you. It’s making you money. That’s the difference. So think about that. Don’t just look at, “Oh I want the nice things.” The nice thing is the result that’s the next step.