Chapter Two: Know The Difference between "Rat Race" and "Wealth Express"

For the purpose of simplicity, let us refer employers, entrepreneurs, business owners, and investors as people in the “wealth express.”
What are the differences in status and in thinking between a person who is trapped in the “rat race” and a person who is in the “wealth express?”
Let us lay the cards on the table and examine them.
If you look at the pay cheque of a person in the “rat race,” you’ll find:
Gross Earnings Minus Deductions (Taxes, SSS, etc.) = Net Pay (Money left for you to spend / save)
The earnings of a person in the “wealth express” look like this:
Gross Earnings Minus Expenses / Savings = Net Earnings subject to taxes
Notice the difference? It’s earn, pay tax, spend for an employee. On the other hand, it’s earn, spend, pay tax for an employer, an entrepreneur, business owner, or an investor. There is a profound difference.
If you are an employee, you would pity yourself, though there is nothing much you can do about it because that’s the way the system works. You don’t have the power to change the system so you have no control over it. Besides, self-pity is a crime to oneself. So instead of feeling sorry for yourself, you must get out of the trap, be liberated from being poor or middle class, and start doing some action steps to becoming financially independent.
To change lanes, just like driving a car, you signal your intention. You send a signal to your brain so that your mindset will start to function on thoughts leaving the “rat race” to thoughts entering the “wealth express.”
This issue about changing lanes which includes the transition period is covered in the next section of this book. In the meantime, let us concentrate on how a poor person thinks compared to the way a rich person thinks. Knowing the differences helps to open up your perception to the way your mind works. This also prepares or conditions your mind to have an in-depth understanding of financial issues.

The Differences

The poor work for money. The rich make money work for them. Literally translated, the poor work to gain money in exchange for their services, to pay for bills and all the other expenses. The rich use money to earn money by investing and/or going into business. They employ the services of other people so they do not necessarily have to be physically present to maintain their business. This gives them more free time to engage in other moneymaking ventures.

The poor think that the love of money is the root of all evil that is why they choose to remain poor. The rich think that the lack of money is the root of all evil, that is why they strive to create wealth.
Say for example, two persons are looking at a yacht, admiring it , just like what happened to me. The person who chooses to remain poor would say: “I can’t afford to buy a yacht.” The person who chooses to find ways to create wealth would say: “What can I do to own a yacht?” The thinking process of the poor on how to make money is automatically shut down. The thinking process of the rich works to determine ways for them to make money, so that they can afford to buy whatever they desire.

The poor and middle class buy their personal things like clothing and household furnishing ready made. The rich buy them made-to-order. Items that are made-to-order are usually more expensive because they are unique or one-of-a-kind, giving the rich more options, choices, and advantages.
The poor would advice their children to study hard so that the children can find a good company to work for when schooling is finished. The rich would advice their children to study hard so that their children can build a good company or find a good company to buy.

The excuse of the poor why they are poor is because they are supporting their families, so expenses are high. The rich are motivated to be wealthy because they are supporting their families, striving to earn more.
A lot of people cringe when it comes to taking risk about money especially the poor. The rich will find ways to control and manage this risk.

On the issue of reaching retirement age, the poor depend on a company or the government taking care of their needs or pension. The rich prefer financial self-reliance.
The poor can afford to save a few dollars. The rich can afford to make investments to increase their wealth.
The poor would compose impressive resumes to find good jobs. The rich would come up with dynamic business plans to create jobs for others.

The poor would say that money does not interest them. The rich would say that money is power.
We can see that there are lots of differences in thinking attitudes between the poor and the rich. Often times, the directions of thinking are opposite each other. How the mind works determines the person. It is unfortunate though that more people choose the easier way to think, which is the way the poor think; hence the higher percentage of people are in the poor and middle class. But there is always the chance to improve, for as long as the mind is willing.

Let me emphasize though that a willing mind to improve oneself, to elevate oneself from being poor to being wealthy, is not enough and will not materialize if it is not coupled with action, the final and most important determinant to turn a poor person into a rich one. Not just any action but intelligent, decisive, fearless action.

Make it happen.

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