February 4, 2012

What The Rich Really Collect

Rents Royalties Dividends and Dollars

Everyone focuses on the stuff the rich people collect. Yet, the biggest secret is that the rich are really collectors of rents, royalties, dividends, and interest. Whether song rights, hotel ownership, businesses, sales commissions, stocks, timberland, or patents, these are the things they truly amass. Instead, people read or watch television shows about the original works of art and the wine cellars, which are mere side hobbies that occupy very little time. Do not focus on what the rich buy for consumption, but rather, what they buy to generate more earnings streams. You'll often find that for every $25,000 watch they bought, they purchased an $800,000 apartment building and that the watch came long after the assets were in place. This single shift in thinking will greatly enhance the probability of you achieving the same ability to live how you desire.

Related posts:

  1. Why Do the Rich Get Richer?
  2. How Much Money Is Rich?
  3. The Hierarchy of “The Rich” in the United States
  4. How to Be Rich by 30
  5. When Trying to Get Rich, the Early Part of the Journey Is Always the Most Difficult
  6. The Red Ring Problem – Getting Rich Too Late in Life
  7. Mail Bag – Once You Become Rich, How Should You Handle People That Wouldn’t Give You the Time of Day in the Past?
  8. Elie Mystal Says $250,000 Doesn’t Make Him “Rich”
  9. My Theory: It Takes $4.5 Million to Feel “Really Well Off” and $10 Million to Feel “Rich” for the Average American
  10. How Do You Get Rich? Do What Is On Your Desk and Do It Well