Speaker 1: Before we start, tell me where you're listening from in
the comments. Maybe you're wondering why some people seem to
track money effortlessly while others struggle despite working hard. Maybe
you're curious about the invisible habits that keep people trapped
in financial mediocrity. Maybe you are ready to hear some
uncomfortable truths about wealth that most people don't want to face.
This conversation is for you, at fifty four, having built
companies worth hundreds of billions, and having observed thousands of entrepreneurs, employees,
and investors, I've noticed something that might surprise you. The
difference between rich and poor isn't usually about intelligence, education,
or even opportunities. It's about daily habits that most people
never examine. Today, I want to share seven habits that
rich people never do, but poor people practice religiously without
realizing their sabotaging their own financial future. These aren't just
business strategies or investment tips. These are fundamental approaches to
thinking and living that determine whether money flows toward you
or away from you. Some of these will make you uncomfortable,
some might challenge beliefs you've held your entire life. But
all of them represent patterns I've seen destroy financial potential
in otherwise capable people habit one. Rich people never complain
about money problems. Poor people constantly talk about their money problems.
They discuss their debt, complain about low salaries, blame the economy,
and bond with others over financial struggles. They think this
creates connection and sympathy, but it actually reinforces a poverty mindset.
Rich people never complain about money problems because they don't
see money as a problem to complain about. They see
it as a challenge to solve. When Tesla was burning
through cash and nearly bankrupt, I didn't spend time complaining
about our financial situation. I spend time figuring out how
to raise more capital, cut costs, and accelerate revenue. The
difference is fundamental. Poor people see money problems as as
evidence that life is unfair. Rich people see money problems
as data about what needs to change. When you complain
about money, you're programming your brain to focus on scarcity
rather than solutions. You're training yourself to be a victim
of circumstances rather than the creator of circumstances. You're also
signaling to others that you're someone who dwells in problems
rather than someone who solves them. Rich people talk about opportunities, strategies,
and solutions even when discussing challenges. They frame them as
puzzles to solve, rather than burdens to bear. This shift
in language reflects and reinforces a completely different relationship with
money and problems. Have it too. Rich people never wait
for permission to act. Poor people wait for permission. They
wait for their boss to give them a raise. They
wait for the market to be right before investing. They
wait for someone else to validate their ideas before pursuing them.
They wait for perfect conditions before starfle guarding anything important.
Rich people understand that waiting for permission is waiting forever.
When I wanted to start PayPal, I didn't wait for
the banking industry to give me permission to disrupt their
business model. When I wanted to build electric cars, I
didn't wait for automakers to approve of my plans. When
I wanted to make rockets, I didn't wait for aerospace
companies to welcome competition. Permission is a luxury that poor
people think they need, but rich people know they don't
have time for the market doesn't wait for you to
feel ready. Opportunities don't pause while you gather courage. Competition
doesn't slow down while you seek approval. This doesn't mean
being reckless or ignoring wise counsel. It means understanding that
most of the permission you think you need is actually
just feared disguised as prudence. It means recognizing that action
creates clarity faster than planning, and that you learn more
from trying and failing than from waiting and wondering. Poor
people ask what if it doesn't work? Rich people ask,
what if it does work? And I miss it because
I was waiting for someone else to tell me it's okay?
Have a three. Rich people never trade time for money
in linear ways. Poor people think wealth comes from trading
more time for more money. Work more hours, get more pay,
take on a second job, make extra income, stay late,
earn over time. Their entire financial strategy is based on
the assumption that income should be proportional to time invested.
Rich people understand that this approach has a ceiling. There
are only twenty four hours in a day, and even
if you could work all of them, you'd still be
limited by your personal capacity. True wealth comes from creating
systems that generate value independently of your direct time investment.
This is why I focus on building companies rather than
just being a highly paid employee. Tesla doesn't stop making
money when I sleep, SpaceX doesn't pause revenue generation when
I take a vacation. My wealth grows from the value
these companies create from hours I personally work. Poor people
often resist this concept because it feels unfair. They think,
why should someone make money while they sleep when I
have to work hard for every dollar. But this resistance
to leverage is exactly what keeps them trapped in linear
income models. Rich people look for ways to multiply their impact.
They build products that serve millions of customers. They create
systems that operate without constant supervision. They invest in assets
that appreciate over time. They understand that scalability, not hard work,
is the key to significant wealth. Have it for. Rich
people never avoid learning about money. Poor people avoid financial education.
They think money management is boring, complicated, or somehow beneath them.
They delegate financial decisions to others or make them based
on emotion and guesswork. They're more interested in earning money
than understanding money. Rich people are obsessed with understanding how
money works, not just how to make it, but how
to keep it, grow it, protect it, and deploy it strategically.
They study markets, understand tax implications, learn about different investment vehicles,
and constantly expand their financial literacy. I spend significant time
understanding the financial aspects of my businesses, not just the
technical aspects. I know how cash flow works, how different
funding structures affect control and returns, how tax strategies can
impact long term wealth building. This knowledge directly influences every
major decision I make. Poor people often say they don't
have time to learn about money, but then spend hours
watching entertainment or scrolling social media. They say financial education
is too complicated, but then make complex emotional decisions about
money without any framework for evaluation. The irony is that
avoiding financial education because you think it's complicated guarantees that
money will remain complicated for you. The more you understand
about how money works, the simpler and more intuitive financial
decisions become. Rich people read financial statements like poor people
read social media regularly, carefully, and with genuine interest in
what they reveal. Hab At five. Rich people never spend
money to feel better. Poor people use spending as emotional regulation.
They buy things when they're sad, stressed, celebrating, or bored.
Shopping becomes therapy, and purchases become rewards for surviving difficult
experiences or achievements deserving recognition. Rich people understand that emotional
spending is one of the fastest ways to destroy wealth.
Every dollar spent on temporary emotional relief is a dollar
that can't compound over time. More importantly, using money to
manage emotions creates a cycle where you need more money
to feel good, which creates more pressure to earn, which
creates more stress, which requires more spending to manage. When
Tesla was struggling and I was under enormous pressure, I
didn't cope by buying expensive toys or taking lavish vacations.
I coped by focusing on solving the problems that were
causing the stress. I understood that emotional spending would have
made our financial situation worse, not better. This doesn't mean
rich people never enjoy their money or never make purchases
for pleasure, but they make those purchases from a place
of abundance and strategy, not from emotional need or compulsion.
Poor people often justify emotional spending by saying they deserve
something after working hard or dealing with stress. Rich people
understand that what you deserve is financial security and freedom,
and that emotional spending works directly against those goals. The
fastest way to build wealth is to find free or
cheap ways to manage your emotions. Exercise time in nature,
conversations with friends, creative hobbies, spiritual practices, and use money
only for purchases that align with your long term financial goals.
Habit six. Rich people never surround themselves with other poor people.
This sounds harsh, but it's critically important. Poor people tend
to surround themselves with other people who share their financial
struggles and mindset. They bond over money problems, reinforce each
other's limiting beliefs about wealth, and collectively normalize financial mediocrity.
Rich people intentionally spend time with other people who think
about money differently, not to show off or feel superior,
but because mindset is contagious. The conversations you have, the
assumptions you absorb, and the possibilities you can imagine are
all influenced by the people you spend time with. When
I was starting my companies, I sought out mentors and
peers who had built successful businesses. I wanted to learn
how they thought about risk, opportunity, growth, and wealth building.
I wanted their perspectives to challenge my assumptions and expand
my vision of what was possible. This doesn't mean abandoning
friends or family who struggle financially, but it does mean
being intentional about also cultivating relationships with people who model
the financial mindset and behaviors you want to develop. Poor
people often resist this because they think it means they're
being disloyal to their community or becoming arrogant. But wanting
to grow financially isn't a betrayal of your roots. It's
often the best way to eventually help the people you
care about. The people you spend time with either support
your financial growth or undermine it. Rich people choose relationships
that support their goals, while poor people often choose relationships
that feel comfortable, even when they reinforce limiting patterns Habit seven.
Rich people never believe money is the root of all evil.
Poor people have conflicted relationships with money. They want it,
but they also believe it's somehow corrupt. Spiritual people shouldn't
care about it, or that pursuing wealth makes you greedy
and selfish. This internal conflict sabotages their ability to build
wealth because part of them believes that succeeding financially means
failing morally. Rich people understand that money is a tool,
not a moral category. Money amplifies who you already are.
If you're generous, money makes you more generous. If you're selfish,
money makes you more selfish. But money itself is neutral.
I've seen this limiting belief destroy more financial potential than
almost any other factor. People who could build wealth choose
not to because they've been taught that wanting money is
somehow wrong. They settle for enough to get by because
they think wanting more is greedy. But here's what I've learned.
The people who do the most good in the world
often have significant financial resources. Charitable foundations, medical research, educational initiatives,
environmental projects. They all require capital. If good people avoid
building wealth, then wealth gets concentrated among people who might
not use it as wisely. When I built PayPal, made
money from that success, and then invested it in Tesla
and SpaceX, I wasn't being greedy. I was using financial
resources to solve important problems that affect millions of people.
The wealth was a means to an end, not an
end in itself. Poor people often quote the biblical verse
money is the root of all evil, but the actual
verse says the love of money is the root of
all kinds of evil. The difference is crucial. Loving money
more than people, principles, or purpose is destructive, but seeing
money as a tool for serving those higher values is
actually virtuous. Rich people pursue wealth not as an ultimate goal,
but as a means of increasing their ability to solve problems,
help others, and create positive change in the world world.
These seven habits might seem small, but they reflect fundamental
differences in how people think about money, opportunity, and their
own agency in creating financial outcomes. Poor people practice these
habits unconsciously, not realizing their programming themselves for financial struggle.
Rich people avoid these habits deliberately, understanding that wealth building
starts with mindset and is reinforced through daily practices that
align with financial growth rather than financial limitation. The good
news is that all of these habits can be changed.
You can stop complaining about money and start solving money problems.
You can stop waiting for permission and start taking action.
You can stop trading time for money and stop building systems.
You can start learning about money instead of avoiding financial education.
You can stop emotional spending and start strategic spending. You
can surround yourself with people who model financial success, and
you can embrace money as a tool for good rather
than seeing it as morally suspect. But changing these habits
requires honest self examination and the willingness attack differently than
the people around you. It requires choosing growth over comfort,
learning over entertainment, and long term thinking of a short
term emotion. The choice is yours. You can continue practicing
the habits that keep people poor, or you can adopt
the habits that create wealth. The market doesn't care which
you choose, but your future self will live with the consequences.
What matters isn't where you start, but which direction you're moving.
Rich people weren't born with different DNA, They just develop
different habits, and habits can be learned by anyone willing
to practice them consistently over time. Share this with someone
who's ready to examine their relationship with money honestly. Subscribe.
If these conversations help you think differently about wealth, and success.
And remember the biggest obstacle to building wealth isn't lack
of opportunity, it's practicing the daily habits that push money away.
Which of these habits do you need to change first.