"You must walk to the beat of a different drummer. The same beat that the wealthy hear. If the beat sounds normal, evacuate the dance floor immediately! The goal is to not be normal, because as my radio listeners know, normal is broke." -Dave Ramsey
This was one of the most eye-opening paradigm shifts I had in all my reading.
This principle was especially apparent in "The Richest Man in Babylon, The Millionaire Next Door," and "The Total Money Makeover." The wisest financial instructors all seem to be in accord:
Don't listen to the majority.
That's because the majority of people aren't wealthy. Most people are broke, in debt, and have poor financial behaviors. Most people overspend, don't save, don't invest, and don't develop their financial intelligence.
Why on earth would you ever follow their advice?
"One of the reasons that millionaires are economically successful is that they think differently." -Thomas Stanley
Think of the most common financial advice you've heard over the years. It probably includes recommendations like:
- Save your money
- Get a good job with a good paycheck
- Diversify your portfolio
- Be frugal
- Don't take big financial risks
- Your home is your biggest asset
- Pay off your credit card every month
But according to the world's most influential financial books, this advice is usually bogus.
Traditional advice is actually what prevents people from attaining great wealth. The ideas are usually based on risk-avoidance and fear. They're too small. Archaic. Outdated.
Wealthy people don't touch this stuff.
One of the most common characteristics of massively wealth individuals is that they typically go against the tide of mainstream financial behavior.