The Hindu Business Line : Do you talk about ideas, things or people?

What is it that separates the wealthy from the rest? “Fat paunches have lean pates, and dainty bits make rich the ribs, but bankrupt quite the wits,” finds Longaville in Love’s Labour’s Lost.

And Lord Polonius advises in Hamlet, “Costly thy habit as thy purse can buy, but not express’d in fancy; rich, not gaudy; for the apparel oft proclaims the man.” In simple terms, however, we know that the dissimilarity between the rich and the most of us is not zero, but of many zeroes.

The most important difference is the length of period under consideration, according to Keith Cameron Smith. “Millionaires think long-term. The middle class thinks short-term,” he begins, in ‘The Top 10 Distinctions between Millionaires and the Middle Class’ (www.land markonthenet.com).

Set, therefore, more long-term goals for your life, he counsels. “People overestimate what they can accomplish in one year and underestimate what they can accomplish in 10.” No easy task to think far ahead, cautions Smith; because you may then have to value freedom over comfort, as millionaires do, and in the end get both, rather than valuing comfort over freedom and be never free.

Thinking long-term, again, build relationships and become emotionally rich too, urges Smith. For, financial success without relational fulfilment is not rewarding. “People who can’t love or be patient or kind, people who can’t forgive, and people who get angry easily are very poor emotionally.”

The second most important difference is this: “Millionaires talk about ideas. The middle class talks about things and other people.” So much so, Smith challenges that if he were to spend a few minutes listening to you talk, he would be able to tell you where you are headed in life. “Your words are like a ship’s rudder. They determine which direction you are going in life.”

Ideas are the most valuable asset in the world, the author reminds. “Everything you see first started as an idea in someone’s mind.” A caveat, though, is that you must discuss your ideas with people who are successful… unless you are prepared to face discouragement. “The middle-class mentality is limited because it doesn’t acknowledge the power of ideas.”

Third in the list of contrasts is the change response: while the middle class feels threatened by change, millionaires embrace it. “For the timid in our society, change is frightening. For the comfortable, change is threatening. But, for the truly confident among us, change is opportunity,” reinforces a quote of Nido Quebin.

The number one reason people resist change is fear, explains Smith. “Fear blinds you to opportunities.” Resisting change is like an eaglet not wanting to leave the warmth and comfort of its nest, he analogises.

“Eventually, momma eagle starts changing the warm and comfortable environment by removing her nice, soft down feathers from the nest. Before you know it, sharp sticks and twigs are poking the eaglet.” ‘Why are you doing this to me, Momma?’ screams the young one, and the momma eagle says, ‘Because it’s time you learn how to fly.’ Likewise, change is life’s way of teaching you how to fly, says Smith. “Sometimes we don’t know what we can do until we have to.”

Rich takeaways.

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