How a person views money, whether that person is wealthy or not, is highly subjective. The same person might view money differently at different points in time. This change in her perspective is due to constant changes in her non-financial personal situations (such as age, family relations, physical health, mental health, upbringing, life goals, and ambition) that are constantly evolving.
However, some powerful and consistent patterns emerge when we observe how financially successful people view money. They don’t just have more of it; they think about it differently. Wealthy people typically use their money as a dynamic and powerful tool, as a means to complete various tasks or achieve different objectives. Why? Because they can! They view money as a tool to achieve specific objectives:
- To make more money: They invest in assets that generate more income.
- To buy freedom: Having financial resources gives them control over their time and choices.
- To solve problems: They can deploy capital to overcome challenges or seize opportunities quickly.
The wealthy utilise the services of different domain experts. For example, they engage high-quality financial advisers for many reasons, including to avoid costly mistakes. By buying back their time, they can focus on their work, their family, or their hobbies.
In contrast, those who are not wealthy face limitations and hence are more constrained in using money as an effective tool for such tasks and objectives.
We suggest that seeking an answer to “How do wealthy people, with the support of a high-quality financial adviser, invest their money?” is more valuable to you than seeking an answer to “How do wealthy people view money?” In this direction, you can consider exploring the value proposition of the QuietGrowth MDA service for your long-term investing.
- Why do the wealthy people stay wealthy?
- What investing services do the wealthy use, or have access to, that aren’t available to the average person?
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