Monthly Archives: November 2012

The Top 10 Distinctions Between Millionaires and the Middle Class


Author: Keith Cameron Smith

Rating: 9.2 of 10

This book took me by suprise.  This short, compact, and eye-opening book ties together common knowledge we’ve always had.  Nothing is new but the distictions of the middle class and millionaires are now completely understood.

There is no doubt I’ll share this book with my children.  Hope you enjoy it as much as I did.

Here are my notes:

The rich know:   BE -> DO -> HAVE

The poor think:  HAVE -> DO ->BE


10. Millionaires think long-term, the middle-class thinks short-term

9. Millionaires talk about ideas, middle class talk about things and other people.

8. Millionaires embrace change, the middle class is threatened by change.

7. Millionaires take calculated risks, the middle class is afraid to take risks.

6. Millionaires continue to learn and grow, the middle class think learning stopped at school.

5. Millionaires work for profits, the middle class work for wages.

4. Millionaires feel they must be generous, the middle class feels they cannot afford to give.

3. Millionaires have multiple sources of income, the middle class have one or two.

2. Millionaires work for a bigger net worth,  the middle class work to build a bigger paycheck.

1. Millionaires ask themselves empowering questions, the middle class asks themself disempowering questions.

Descending order



Poor: Survival

Middle: Comfortable

Rich: Freedom

Delayed gratification: Poor are inpatient, the rich are patient.

You can be emotionally poor or emotionally rich

Think long term in all aspects of life.

**The millionaires create things like movies, cars, hotels. The middle class buy the things that the millionaires create.

Millionaires are good at showing people how important and how good they really are.


Do not discuss your ideas with unsuccessful people, they typically will only make you doubt yourself

**What you complain about you get more of.


Fear opposes change

Wishing is based on doubt, choice is based on belief.

It’s not about being in the right place at the right time; it’s about being the right person at the right place at the right time.

-The wrong person does not recognize the opportunity.


**The only way out of the RAT RACE is to take risks. 


Millionaires overcome fear with knowledge while the middle class let the fear consume them with ignorance.

Risk Assessment:

  1. What is the BEST thing that could happen?
  2. What is the WORST thing that could happen?
  3. What is the MOST LIKELY thing that could happen?

-Can you live with the outcome?

You will fail its only a question of when and what you will learn from it?

You miss 100% of the shots you don’t take.

Many of the regrets of the old regret they did not risk.


Continue to read and learn a lot.

Books can teach you in hours what others learned in years.

Preacher: You don’t fail God’s tests you just continue to repeat them.


90% of millionaires are in a sales capacity.


Give give give. You don’t own it unless you give away.

If you can’t give your money away it possesses you. If you can give your money away then you possess it.


Passive income



-Direct sales companies to build your own company.


-Real Estate

The rich spend their money on investments. The poor spend their money on liabilities. 

The middle class try to build nest eggs. The millionaires get geese that lay golden eggs. 


Empowering questions ask what you can do while disempowering questions ask can’t you can’t do.