Quote from: Hydrogen on August 23, 2022, 11:58:20 PM

Quote from: odunybiz on August 23, 2022, 07:27:23 AM

This is the different between the rich and the poor. The rich invest in what can fetch them more money (asset) e.g buying land, investing in reputable businesses but the poor out of fashion keep buying liabilities (goods that they keep on spending their little earnings on for maintenance). If 70%- 80% of your income goes to liability then one is preparing for a poor life.

I would say the #1 difference between the rich and poor is.

The rich read books and learn as a lifestyle.

While the poor believe no good can come from either reading and learning.

Its the mentality, lifestyle and attitude that is responsible for producing results.

Although it definitely is becoming harder to reach wealth from a starting point of poverty.

The goal isn't necessarily wealth. But rather learning things that are worth knowing. Which produce an abundance of wealth, inevitably.

Not all poor people have thought that they should not be reading and learning.
But sometimes due to forced circumstances, if you are born into a rich family, and do not have to worry about eating, living and daily expenses, then you will have more time to study and read, books on how to be people, books on how to get rich...
On the contrary, if you are born into a poor family, you cannot afford to eat 3 meals a day, you have to work all day to cover daily expenses and you will not have time to read or go to school.
In my hometown, there are many poor families, and parents have to work hard all day, but they always encourage and try to send their children to school fully. Because they understand that only education can give them a chance out of poverty.