10 Things Rich People Say But Don't Do

Everyone wants to know what the rich think. However, their advice isn't one-size-fits-all, and interestingly, they often don't follow their own guidelines.
Welcome to Financer your place for Business, Finance and Wealth creation knowledge, here are 15 things that rich people say you should do but never do themselves.

First: "Don't go to school."
It's mostly said by those who've already graduated or are comfortably wealthy. Hypocritical isn’t it? Most of us should go to school because without that, we'd probably be more lost than a non-techy using an iPhone for the first time. And trust me, that's not pretty. But our rich friends? They've got other plans. For them, education is not about a degree but the right kind of knowledge. They often argue that traditional schools are outdated. They think personalized learning is the way forward. Remember Elon Musk? He started Ad Astra, a private school, for his kids and a handful of select students, with tailored curricula that went beyond traditional academia. So, yes, when they say "don't go to school," they mean don't just settle for the regular system.
I'd love to hear your thoughts on this: Do you agree that the traditional education system is failing us? Comment below!
Moving on to the second piece of advice: "Cut down on spending." That's like telling someone lost in the desert to ration their water - it's kinda obvious, isn't it? Here's a secret though: rich folks love spending money. While you're busily cutting back on those extra lattes and movie nights, the wealthy are out there making more money. They're into investments and opportunities, which we'd call spending, but for them, it's like planting golden seeds. They're not Scrooge McDuck, diving into piles of gold. No, they're out in the field, sowing seeds, and waiting for the cash crop.
Just a thought though: Instead of asking how you can save a penny, why not ask how you can earn a dollar?
You see, it's a whole different ball game with the wealthy. Their money works for them, while most people work for their money. Now that's a shift in perspective, isn't it?
Third: Never go into debt. Most of us treat debt like an annoying relative, we'd rather avoid it. But the rich turned this elephant into a circus performer! For them, it's not about avoiding debt, but knowing how to use it strategically. Robert Kiyosaki made a fortune using other people’s money. But remember folks, it's not an open invitation to max out your credit cards. It's about understanding the power of leverage and using it wisely. So, folks, before you start signing up for every credit card offer that comes your way, take a step back. Ask yourself, can you ride this elephant, or will it end up sitting on you?
Here's what we mean: If you borrow money to buy a liability - something that costs you money like a new TV or a fancy car - that debt isn't going to work in your favor. However, if you're borrowing to invest in an asset - say, a rental property or a business - that can generate income and appreciate over time, that's strategic debt.
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"Fourth: You have to Diversify.
I bet you've heard this one before, right? But here's the real deal: when the rich talk about diversification, they aren't spreading their investments thin like butter over a piece of toast. They're more like the chess player who places their pieces strategically across the board. Take Warren Buffett for instance, he doesn't have his stocks scattered in hundreds of companies.
No, he's got his money in a select few that he knows will perform well over time. So remember, folks, diversification isn't about having a finger in every pie; it's about choosing the right pies and sticking with them.