Rich People Aren't Smart - Unlike Mainstream Media Would Want You To Think

In 2020, I published a book titled - If you want to be rich, don't work for money. And the central theme of the book is that the rich don't work for money. 

Yet, this is what most people do. And this is not to encourage people to stop working. It is to encourage people to stop working for money. There is a big difference. 

If you consider yourself rich, you certainly know people who are way smarter than you who don't have anything close to what you have. It is easy to fall into the guilt category if you inherited wealth from your parents. But even if you claim to "work hard for your money", it didn't come by hard work or being the smartest person.

If you have read a lot of articles from me, you know this as a truth right now. You work hard to stay successful. You don't work hard to attain success.

The secret of attaining success is something I explained in my book. But it irks me many times when the media portrays a successful person as the smartest person alive. 

Bill Gates and Steve Ballmer already gave up on Windows before making a u-turn when an employee figured out something. Only 3 people were working on Windows. The others were working on IBM's operating system. 

Mark Zuckerberg didn't think Facebook was "the big thing" even after it hit a million users. 

No musical artist knew for certain that a release was going to be a hit. They could guess. They could assume. But things they thought would be hits has flopped. And songs they thought of as mediocre became hits.

Yes, there is some mechanics to life. But all of life is not mechanics. In fact, financial success has little or nothing to do with mechanics.

Rich people are not smart. Rich people are informed. Big difference

Rich people knew Silicon Valley Bank was going down the week before it did. Rich people knew when the Fed was going to start raising interest rates.

Rich people knew what will happen to food prices the moment Russia moved against Ukraine. Rich people knew the Bank of England will react to the UK pension fund crisis in 2022.

Rich people know why China cannot just invade Taiwan tomorrow. Rich people know why US manufacturing is moving to India. Rich people know why Japan is no longer interested in buying US treasuries.

Rich people have information. That is what makes them rich.

My aim in this brand new newsletter, Money Mastery, is to give you perspective and context of such information in a timely manner so you can make financial decisions like a rich person (that you ought to be). 

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Talk more soon!