Do you think there is a Rich and Poor Mindset?

[Brogues]

I only came across this theory (Rich dad Poor dad) a couple of weeks ago and I’m not sure or maybe we’ll never be able to not think ‘poor’?

Me and DH were brought up ‘poor’ - comfortable but in council housing, with working parents but worried about unexpected bills. We both went to university are now professionals in our work and are high earners (not top 1% of Mumsnetters by any means admittedly) so ‘rich’ but we still buy stuff like TVs rather than focusing on investments. Can we get out of our ‘poor’ mindset or isn’t there one in the first place?

Nicked from google:

Certainly not in the way set out here! How incredibly insulting to people on low incomes. "Causes Problems" v "Solves Problems". Really???

(and the author can't even use apostrophes)

Nope I don’t agree. It’s a nice way to “blame” people for being poor when actually it’s about 99% family wealth/luck which gets people rich.

Written by a complete twat. Of course there are poor people focused on study and there are plenty of wealthy people who value you respect and family over success.

And as for compliments, wtf?

Nah. Like I fo believe there is certain mondsets, but that picture is bullshit.
It's something else. Parts of it are a "victim mentality" vs a doer (who goes and does rather than talks about it jntil chance passes)? But just bits. They mixed 700 different things there

I do think people have different mindsets depending on their experience growing up, but nothing in line with that image.

It’s just that old line that’s trotted out every-time someone mentions rich people on here and how they don’t spend any money on cars or clothes and certainly not on handbags. We spend on all of those things ergo we are not rich even when we can afford them?

What an unhelpful set of statements! Even if they were true, how would a person use them in practice in real life.

The image detailing the mindsets sounds like capitalist self development bullshit.

Prioritise what is important to you. Don't base your life on a naff Facebook meme.

@Brogues

It’s just that old line that’s trotted out every-time someone mentions rich people on here and how they don’t spend any money on cars or clothes and certainly not on handbags. We spend on all of those things ergo we are not rich even when we can afford them?

Well there are proven differences in spends between people with large incomes and small incomes. But it's not as easy as expensive handbags.

I don’t agree with that one. I’ve seen others that are much more relevant IMO. I do think that even you’re wealthy you are more able to take risks that can lead you to become more wealthy - like more risky investments. It’s not an option for poorer people who would be seen as irresponsible. Poorer people are often great at finding solutions because they have to rather than just suck up the loss or spend money on alternatives.

From my experience people who are bought up with a lot of money don’t really talk about it, especially people like farmers who are millionaires but you would never know, my friends who have come from privileged backgrounds are not showy at all.

I think talking about money and how much things costs is tacky tbh.

@CheeseyMcCheeseface

From my experience people who are bought up with a lot of money don’t really talk about it, especially people like farmers who are millionaires but you would never know, my friends who have come from privileged backgrounds are not showy at all.

Do they have a different mindset then do you think? Or is it as simple as thinking speaking about money is tacky?

Hmm, that list looks like it's been written by a person desperately trying to "manifest" themselves out of structural inequality.

I think there are very much rich mindsets, but it’s not even slightly summed up by that garbage list!

I’ve worked in investment banking for my career so have been around some people who are wealthy beyond comprehension, and yes, I see a lot of common traits in their work ethic, priorities etc
But to what extent it’s nature/nurture..?

To misquote Tolstoy…

Rich people are quite alike; most poor people are poor in their own way."

As for people casually equating dominant social norms with success and acceptabilty: please, do, just fuck off now

I would reverse a lot of the qualities given in those lists, tbh. Most of the current Cabinet are filthy rich and don't appear to take responsibility for anything, for example.

I live in a HA home on benefits.

About to complete my MA, already have a first-class BSc.

Working towards the future but within the confines of my present.

We definitely do not cause issues.

Being poor is expensive. That is the issue.

That list is total shite and completely loses any credibility due to the idiotic apostrophe.

Erm, I totally don't agree with that meme but I don't think that comes from Rich Dad, poor dad! I really like some elements of RDPD, he writes things like 'middle imcome people spend disposable money on depreciating goods (cars, tvs etc, poor people have to borrow, rich people buy assets that generate income '. It really made me think about purchases - that fancy car that's the envy of 'everyone' is actually a lump of debt, or depreciating value by the minute'. It has some useful, non poor blaming advice for how to save and invest. I don't recognise the sentiment of that meme in the book I read. I don't love the author (total capitalist, Trump supporter I think) but some of the principles he teaches are sound and have helped me lots with realising not just rich people invest.

@FangsForTheMemory

I would reverse a lot of the qualities given in those lists, tbh. Most of the current Cabinet are filthy rich and don't appear to take responsibility for anything, for example.

Quite!

Rich dad poor dad is a terrible book with a lot of made up stories and ridiculous advice, nevertheless the premise of differences in mindsets is not unfounded, as much as I'm sure it will cause outrage here.

I read it as a how to be a success twat on social media, with a side of MLM.

@Brogues I think they have a different mindset to money yes. If you’ve never had to shop in the cheapest shops always gone for the best quality rather that cost it’s in built. But mindset to life, I’m not sure, I find those who went to private school have a self confidence about them.