Name: 7 Non-Obvious Signs Someone is Super Rich
Uploaded: 2020-09-03T19:05:19.000Z
Duration: 11 min 15 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Basic quantifiers

How many millionaires do you think are there in the world? According to Credit Suisse,

there are 46.8 million millionaires worldwide with a total net worth of 158.6 trillion dollars.

That's almost half of the world's entire wealth. From one side, it seems like it is so difficult

to become a millionaire that only a handful number of people become one, but from the

other side when you have almost 47 million millionaires, it seems like it's not that

difficult to become one, especially when 18.6 million of them are in the US.

But it's not easy to spot them because they don't lead a super luxurious life, but they

have the financial stability to live comfortably.

So here in this video, we are going to find out what are the 7 non-obvious signs that

someone is rich. These are dealbreaker traits. If you don't have them, you should work on

Understanding accounting  The business world and the stock market are

all standing on the shoulders of accounting. Without having a deep understanding of accounting,

you can't really manage money well. The first sign of someone is wealthy or on

the way to become is that they understand accounting. They don't necessarily have to

know every detail, but they have a general idea about everything. They know how to read

balances sheets, income statements, cash flow statements.

They know how to analyze the financial statements and figure out if the company is on the right

track. You can come up with the best business idea

ever, but if you luck accounting skills, you will not be able to turn it into a profitable

business.  History is filled with great innovators, but

they couldn't profit from them because they lacked the business skills, and accounting

Of course, you can hire accountants to do the job for you, but without personal knowledge,

you cant make the right decisions to drive the company in the right direction.

This is probably the most important trait in this list, and we have made an entire video

on it previously. When you grow up in a low-income family with

no fault of your own, what often happens is that. You cant think long term because its

difficult to focus on achieving something great in 10 years when you are struggling

to put food on the table. When you grow up, and your concern is to fulfill

your daily needs, that mentality will become part of you. Instead of saving money to invest,

for example, you indulge in sweets and entertainment, and you aren't confident that you can get

that tomorrow. Because when you were a kid, your parents promised you to buy sweets, for

example, but didn't often deliver out of financial necessity.

Instead of investing in yourself or spending a few years building a business, you decide

to settle on low paying jobs. There is a great book on that Scarcity: Why Having Too Little

Delaying gratification also means being disciplined. Nothing meaningful can be built overnight.

Whether you want to become the CEO of the company you are working at or a successful

athlete or an entrepreneur, you need years of constant work and dedication no matter

how talented are you.  3. They focus on earning more than saving.

No one ever got rich by just saving. Not to say that it's not important because I am a

big believer in saving, and I do save most of my income, but there is always a limit

to how much you can save. At the end of the day, you have to spend money

to cover your basic needs, such as shelter and food. Since you are a human being, you

want to entertain yourself and live comfortably, that's why if you just focus on saving, you

probably won't go far. That's why it makes more sense to focus on increasing your income

If you have a job, that's almost impossible because all you can hope for is a 5 percent

raise annually. That's trying looking for other streams of income. Do something online,

put your money to work, let it generate income for you.

4. Next, Beauty pays well. I was a little skeptical about this until

I read the book "Beauty Pays: Why Attractive People Are More Successful." If you think

about it, we naturally love to deal with more attractive people. I am not just talking about

the opposite gender but overall in general.  We often criticize celebrities who have done

face surgeries to look more attractive, and yet millions of people follow them after they

have done that, thus making them wealthier.

That's not to say that every attractive person is rich but attractive people on average earn

more. And multiple studies have shown that the better-looking men had higher starting

salaries and faster earnings growth in their first ten years. For women, looks had little

effect on their starting salaries but did improve their earnings growth in the long

run. Some studies even indicated that better-looking people get lower interest rates. That's insane!

If you are hiring a salesperson, for example. Would you hire someone who would attract more

customers by being attractive and generate more sales or someone who is less attractive

Of course, not all professions require great looks such as sales, modeling, or acting,

but if you had two professionally equal options, most people would lean to hire the more attractive

one. Of course, some people are lucky genetically

and naturally look beautiful. But that doesn't mean you can't do anything about it. You cant

change your genes but there are plenty of things you can do! Such as dressing up properly,

fixing your hair, grooming, exercising, hitting the gym regularly, you can make yourself look

We know that Facebook made Zuckerburg one of the richest people in the world. But Sean

Parker early on realized the opportunity and built a strong relationship with Zuckerburg

and got a tiny small slice of Facebook, which today worth over 2.7 billion dollars.

One thing that's certain about life is that you can't go far alone, no matter how hard

you try. The world is built in such a way that you need other people to achieve great

things. Of course, sometimes, you are so smart that no matter how terrible your social skills

are, people will still get around you because they see that they can gain something.

But let's be honest, it isn't always like that. Most people aren't going to build the

next Facebook or Microsoft, that's why the ability to build strong connections with others

is a dealbreaker. Let's say you have come up with a good business

idea. By having big enough valuable connections, you can quickly turn it into a profitable

business. Do you want to raise money for your business? you prepare a great sales pitch?

Do you want to get hired? Learn how to sell yourself?

You want to make friends and around yourself with charismatic, ambitious, and talented

people? You should know how to talk to them in such a way that they would love to connect

with you. We can go on and on and talk about the importance

of social skills. But the point is that the better social skills

you have, the higher your chances of building wealth.

Once you make enough money to pay all the bills, it's really difficult to motivate yourself

to earn more. And I can say that from my personal experience.

That drive and hunger you had at the beginning slowly fades away as you get into a comfort

zone. There is nothing wrong with that. If you are

satisfied with yourself, what else could you possibly want?

But to achieve more than others, you have to be a little more greedy. Of course, too

much greed isn't good, because it can destroy you.