PART 2: The Difference Between a Rich Mindset and a Poor Mindset: A Lesson from Buying Land in Indonesia
By Jamie McIntyre – Chief Editor, Australian National Review – Property Investor & Developer, LUX Property Group
“How can this asset keep paying me for the rest of my life?”
People focused only on immediate gratification often ask:
“How much cash can I get today?”
One mindset compounds.
The other consumes.
Many genuinely wealthy people actually have relatively little spare cash sitting in the bank.
Their capital is continually invested in businesses, property, shares and other productive assets that generate ongoing income and appreciate over time.
Their wealth works while they sleep.
By contrast, many people who suddenly come into money often spend it surprisingly quickly because the focus is on consumption rather than production.
Money disappears.
Assets remain.
Assets can continue paying you year after year.
That is one of the greatest lessons property investing has taught me over the past 25 years.
Cash is useful.
Income-producing assets are transformational.
Whenever possible, I encourage people to think beyond today’s cheque and instead ask a much more powerful question:
“Will this decision make me richer five, ten or twenty years from now?”
The answer to that question often determines whether wealth lasts for a lifetime or disappears far sooner than anyone ever expected.
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