THINK AND GROW RICH

Take 100% of the people -- 80% with the most wealth, 20% with little wealth. Confiscate all the money from the 100% and distribute it evenly. As the story goes, within 5 years you'd have the same 80% with the most wealth and the same 20% eyeing up dumpsters. (If you wish you can substitute 99% and 1%)

I happen to believe this classic, economic discussion/fight, starter. Some people just know how to make money and cannot see themselves without wealth. Others, are just the opposite. So it would appear self-image and money-making knowledge are major ingredients in wealth accumulation.

Let's look at knowledge. Knowledge can be, but doesn't need to be, obtained through formal education. Life experiences of making and losing money help one understand at both an academic and a visceral level how to get the 80% back. But knowledge is the easy part. The uphill battle is changing monetary self-image.

How do you see yourself and money? Are you the kind of person who earns in the $20,000-$40,000 range? (After all, given your education and the income level your folks labored in, how could you ever expect more?) Do you earn $60,000 to $99,999.99? (Top that six-figure mark and spontaneously ignite?)

If you are a $40,000 person, you wouldn't see a six-figure opportunity if it bit you in the assets, but if you're a six-figure person, that's all you'd see. Might you have a monetary, self-image thermostat? You set it at a level most comfortable for you. If you go over, you shut down; if under, you crank it up.


Lesson: Money is in your head before it's in your wallet.