We’ve all seen the glamorous toys rich people buy—the luxury cars, the decked-out jewelry, the quintuple decker yachts. But what about the things rich people buy to grow their wealth? To become richer?
That’s what we’re looking at today—the top 6 things rich people buy that poor people don’t. And if you’re looking for a way to invest in yourself, you’d better stick around.
Get Rich Quick?
Wealth is a funny thing. Some people are born into it. Others fall ass-backward into millions. And some people, on paper, look like they should be rich someday… but end up paupered, penniless, and pissed at the world around them.
Making and spending money wisely is tricky. And a misunderstanding about what you should and shouldn’t be buying to grow your wealth is one of the biggest differences between the rich and the poor.
Which investments pay off? What purchases lay the groundwork for future success? And how can you tell the difference between an asset that expands your financial empire and one that brings it crashing down?
These aren’t easy questions. Hell, if they were, everyone would be rolling in dough.
But today, we’re pulling back the curtain and looking at six things in particular rich people buy and poor people don’t.
From physical items to organizations and yep, even ideas, we’re tackling it all.
Now, let’s give it a look.
The best asset you’ll ever have is your own abilities. And the more you invest in bettering yourself—we’re talking mind, body, and spirit here—the better earning potential you’ll have.
Reading and consuming valuable, educational material is key here. The most successful people, for example, consume books and audiobooks ravenously. And if you’re not reading at least 10 pages a day, sorry to say it, you’re simply not doing enough.
But books and written content are just the start. And you can only learn so much by reading the static words on a page. That’s why rich people also tend to invest in training programs. Ones that provide interactive deep dives into the topics. Ones that cover skills and strategies using different media like whiteboards and video. And ones that give you the opportunity to engage with (and pick the brains of) real-life experts.
It’s that type of learning experience that I modeled the Selling Made Simple Academy after. All-in-one sales training, in-depth mentoring, proven success—it’s got it all.
And on top of all that, if you can sell, you can do anything. So developing this invaluable skill should be at the top of your list.
Now don’t worry, this one isn’t as out of reach as you might think.
One of the best ways of expanding wealth is by purchasing a successful business. Businesses are revenue-generating machines. And with a business that’s already well-managed, you don’t have to put in any work to keep them earning money while you sleep. It’s why business acquisition is one of the go-to investments for people with lots of money to burn.
But for those with a little less expendable income, there’s always investing in the stock market. Buying shares in companies with strong track records can dramatically scale your wealth if you’ve got an eye for the market. And with the right investments, you can create a surprisingly substantial passive income stream from dividends alone.
Whether you’re selling physical products or services, there’s one thing that’s common across any industry—people. You need people to buy what you’re selling if you want to make a profit.
And the savviest professionals know that spending their money on increasing their audience is a fantastic way to boost future income.
Now, you can’t directly buy sales opportunities (at least not ones that’ll actually pan out). But what you can do is invest in indirectly increasing your audience.
For example, you can purchase equipment that’ll increase the production value of your webinars. You can invest in marketing your upcoming event. You can hire on help for producing valuable and educational content you use to grow your LinkedIn network.
There are tons of ways for you to invest in growing your audience. And the more you do, the more you’ll be growing your earning potential.
4: Precious Metals
The markets these days are a bit, shall we say… sporadic. With everything going on in the world around us, your portfolio could be bringing in a return of 5% one day and getting hit with a 10% loss the next.
That’s why so many of the wealthy invest in precious metals that hold their value. These are super stable investments, unlike erratic Bitcoin or NFTs. When the market goes down, their value stays steady as a rock because they have actual, physical value.
Sure, clever investors still hang on to some super risky stocks and assets in case they pay off. But the majority of their portfolios are super safe to offset the downsides of riskier investments.
5: Intellectual Property
Rich people grow their wealth by owning a variety of ideas, systems, or other protected IPs. This could include ideas like a system for expanding your online audience, creative works like unique characters, music, or art, or patents for inventions.
Now, a smart investor will grow their wealth by licensing these assets out to others and collecting royalties or licensing fees.
For example, Salesman.org uses its own custom illustrated character designs. I can license these character designs out to another training company for some extra income. Or I can even hire a writing team and illustrator to create a comic featuring those characters to further expand my audience.
See how that works?
6: Appearance Boosters
Now I’m not talking about stupid designer clothes, diamond-encrusted watchbands, and plastic surgery. Instead, I’m talking about smart, straightforward items that enhance your appearance so you can do business better.
See, first impressions matter, especially when it comes to business. And if you show up to a sales deal wearing a stained T-shirt, there’s no way in hell anyone’s going to want to work with you.
That’s why it’s so important to buy items that imply success. “Imply” is the key word here. Because going too far the other direction (like buying over-the-top flashy outfits and jewelry) makes it seem like you’re not serious.
For example, I wear an Omega Seamaster watch to meetings. It’s a fantastic watch. And it shows that I’ve had a bit of success. But it isn’t so decked out in jewels that it could blind a prospect if it catches the light wrong.
Look successful. But don’t risk coming off as unprofessional along the way.
So there you have it! Six things rich people buy that the poor don’t.
These are all savvy investments that the cleverest wealth-growers consistently use to boost their earning potential even higher.
So focus on these assets instead of wasting away your income on the flashy cars or luxury clothes. Because when you do, you can rest easy knowing you’re truly investing in your future. Not just buying a bit of bling that won’t earn you a single cent.