what makes people rich wealthy mindset #2024 #life #selfhelp #motivation #selfimprovement #rich #thinkandgrowrich #psychologyofmoney #psychologyofrich
What qualities do the rich have ?
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How they look at things- optimistic outlook- they focus on the brighter side of things whatever the situation, instead of focusing on the negative aspects of people or situations. Being able to look at the upside of things even when they are rock bottom is a quality of all rich people
Resilience- the ability to bounce back from setbacks and adapting to challenging situations is a quality of the rich. Even though there’s no way they are going to succeed or even if everyone around them says discouraging things, they never look at failures as the final stop, they always view them as opportunities which will help them grow and become stronger.
Focus on solutions rather than problems- when we face problems, when we think about the problem and amplify the problem, we tend to worry and even if the problem is small we are going to end up in a mess because of the worry and anxiety. But the wealty and succesful people looked at problems as a way of developing skills and they try to focus on what can be done to solve the problem rather than worrying about it.
Strong self belief- every successful person has one characteristic, strong self belief. Even if no one around them believed in them, they never doubted themselves or their abilities.
Cheerleaders - when everything seems to be tough, we tend to be disappointed and discouraged, we think negatively, we come too critical of ourselves, but successful people talk positively, have a motivating voice within them which keeps pushing them forward even in tough situations, improving their confidence. They become their own cheerleader if necessary.
Adaptability- just like water which assumes the shape of the container, every successful person ever has the ability to adapt to the situations, seeking opportunity in every situation to learn and grow.
Kindness- being kind to others and always being considerate about others is the quality of all successful people. Showing compassion to others and even themselves is the great quality of every successful person ever.
Focusing on strengths- we tend to look at our imperfections and insecurities rather than our strengths in most of the situations, but the successful people have a way of focusing on their strengths, small or big, they utilise every thing they have to achieve their goals.
This is what the books say about rich people and successful people, most of these books were based on experience and interviews but what does science have to say about the psychology of the rich people?
Many studies have been conducted on the psychology of wealthy people by german economists and psychologists- and assessed them in terms of the Big 5 theory- in which 5 personality traits were assessed-
Conscientiousness- how determined, punctual,organised, persistent and goal oriented someone is.
Neuroticism- this focuses on a person’s psychological stability- how anxious or insecure are they , how neurotic ?
Agreeableness- how conflict oriented someone is or how much they are concerned about social harmony
Extraversion- how extraverted a person is, how engaged are they with the world around them?
Openness to experience- how people differ in how open they are to new experiences
When these qualities were researched in these studies, it showed that rich people are way more ectraverted than the general population, more open to new experiences, less agreeable- that is they are open to conflict and they are more psychologically stable , and conscientious
And some other interesting facts which emerged during further research, are
That the super rich people are not conformed by the norms of the world, they often tend to swim against the tide.
They deal with defeats and setbacks much differently than the general population- they do not blame anyone but they blame themselves for their loss or gain.
The most interesting thing about the super rich is that there is no correlation between performance at school , university and their financial success at all.- proving that gut feeling or implicit knowledge is far more important than explicit or academic knowledge
doi.org/10.1111/bjop.12360
www.nature.com/articles/s4159...
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