THE OLD MONEY: How To Get Rich?

Let me explain to you how to get rich the "Old Money" way.

Most of my working life was negotiating and selling to the rich. From luxury watches to luxury cars.

Patek Phillipe, AP, A Lange & Sohne, and Rolex to luxury cars like Ferrari, Lamborghini, Rolls Royce, Bentley, and the other marques.

So I have my fair share of experience with the different wealth status, like the

1. The old rich - They have "been there, seen that and done that.". They are very low profile, elusive, and do not show their wealth only occasionally.

   
   

2. New rich - Money came from some "leveraging", a little luck, and mostly effort. They tend to display their new-found wealth.

   
   

3. Fake rich - Makes a little money, shows off with fancy cars they can't afford and maintain, loves titles and craves status. Arrogant but says they're not.

   
   

The stereotype I described earlier pertains to the wealth status of the affluent group.

If you aspire to be wealthy, take "how to make money" lessons from the "old rich".

The rich learn how to make money. The ordinary learn to work for people.

The old rich learns how to make money - While every ordinary person typically follows a conventional educational path that includes attending school and then progressing to university, the old money elites experience a significantly different journey.

From a very young age, the children of affluent families are not only exposed to the standard curriculum but are also immersed in a unique environment that emphasizes financial literacy and wealth management.

Their parents, who are already established in the upper echelons of society, instill in them the principles of wealth creation and preservation, teaching them the nuances of financial markets, investment strategies, and the importance of networking within elite circles.

As ordinary individuals embark on their professional journeys, often starting from entry-level positions and working their way up, the heirs of old money are already seated in boardrooms, engaging in high-level discussions alongside their family elders and seasoned executives.

These experiences provide them with invaluable insights into the workings of corporations, investment opportunities, and the strategies that drive successful businesses.

The education they receive is not merely academic; it is practical and experiential, often involving mentorship from industry leaders who share their knowledge and expertise.

Furthermore, this exclusive education extends beyond formal learning. The old money elites are often introduced to influential contacts at a young age through family connections, allowing them to build networks that can open doors to lucrative opportunities.

They attend social gatherings, charity events, and exclusive clubs where they interact with other wealthy individuals and learn the art of negotiation, persuasion, and relationship-building. These skills are crucial in navigating the complex world of finance and business.

In contrast, the ordinary people, while they may acquire skills and knowledge through hard work and determination, often lack access to the same resources and networks that the old money elites take for granted.

This disparity creates a significant gap in opportunities, as the elites are equipped not only with education but also with connections and a deep understanding of how to leverage their wealth to create more wealth.

The old money elites are thus not just passive recipients of their family fortunes; they are trained from childhood to be active participants in the economy, with a keen awareness of how to sustain and grow their wealth over generations.

This dynamic perpetuates a cycle of privilege, where the old rich continue to thrive and expand their financial empires, while the average individual must navigate a more challenging landscape, often limited by socioeconomic barriers.

The lessons learned by the old money elites are often closely guarded secrets, passed down through generations, ensuring that the knowledge of wealth creation remains within a select group.

As a result, the divide between the wealthy and the common populace continues to widen, highlighting the importance of understanding the underlying factors that contribute to financial success and the systemic inequalities that exist within society.

Here are ways how "Old Money" makes money and remains wealthy.

Achieving wealth and maintaining it requires a strategic mindset and a series of deliberate actions. Below are several key principles that can guide individuals on their journey to financial success.

1. The old rich constantly talk about making more money -

While the regular middle class often discusses how to spend their money on consumer goods, vacations, and lifestyle enhancements, the wealthy focus their conversations on opportunities for investment and wealth creation.

They prioritize discussions around potential income-generating ventures, analyzing market trends, and exploring innovative investment strategies.

The rich talk about where to invest their money, whether it be in stocks, real estate, or startups. They are constantly on the lookout for promising opportunities, and they engage in dialogues about the latest investment vehicles, emerging markets, and economic forecasts.

In contrast, the middle class tends to discuss material possessions, such as what car to buy, which vacation destination to choose, and where to dine out, often overlooking the potential for financial growth that comes from investing wisely.

2. The old rich see money as a score -

Ordinary people often label the wealthy as greedy, but this perspective fails to recognize the fundamental difference in how they perceive money.

For the affluent, money is not just a means to an end; it is a scorecard that reflects their success and achievements. They view business as a strategic game, where every financial decision is made with careful consideration and foresight.

For the wealthy, money is a score, business is a game.

The rich understand that accumulating wealth is not merely about personal gain; it is about creating value and leveraging resources to foster growth.

They embrace the challenge of navigating the complexities of financial markets, viewing setbacks as learning opportunities rather than failures.

This mindset allows them to remain resilient and focused on long-term objectives.

3. The old rich do not hang out with "poor people" -

It is not that the rich are arrogant or dismissive; rather, it is that they seek out relationships that foster growth and inspire ambition.

The conversations that the wealthy engage in are often centered around innovation, strategies for success, and opportunities for collaboration.

They understand that surrounding themselves with like-minded individuals who share their goals and aspirations can significantly impact their mindset and drive.

Conversely, interactions with those who have a scarcity mindset can hinder their progress. The wealthy prioritize their time and relationships, choosing to invest in connections that challenge them and encourage them to reach new heights.

The middle class loves to compare with their so-called peers to see who is doing better

4. The rich are very frugal -

You will be surprised, despite their wealth, many rich individuals practice frugality in their daily lives.

They understand the value of money and are cautious about unnecessary expenditures. This doesn't mean they live a life of deprivation; rather, they make conscious choices about where to allocate their resources.

They prioritize quality over quantity, seeking out the best value for their investments and expenses.

Wealthy individuals often practice frugality as a habit, rooted in their mindset. This allows them to save and reinvest a greater portion of their income, leading to increased wealth over time.

There is nothing to do with being disciplined; it is the way of the old rich spending approach that helps them preserve financial security while still enjoying the rewards of their efforts.

5. The rich buy value -

Wealthy individuals are discerning consumers who focus on purchasing items that offer long-term value rather than succumbing to fleeting trends.

They invest in assets that appreciate over time, such as real estate, stocks, selective rare timepieces or businesses, rather than luxury items that depreciate quickly.

This perspective allows them to build a portfolio that grows in value, providing financial stability and opportunities for future investments.

Moreover, the rich often seek out experiences that enrich their lives and broaden their horizons, understanding that personal development and education are invaluable assets.

6. The rich rarely spend, they invest -

Investing is a cornerstone of wealth accumulation for the rich. They actively seek out various investment opportunities, diversifying their portfolios to mitigate risk and maximize potential returns.

This can include traditional avenues like stocks and bonds, as well as alternative investments such as real estate, private equity, or even cryptocurrency.

The wealthy understand that making their money work for them is essential to building and sustaining wealth.

They continuously educate themselves on market trends and investment strategies, often consulting with financial advisors to ensure they are making informed decisions.

By having a proactive approach to investing, the rich are able to not only grow their wealth but also safeguard it against economic downturns, ensuring their financial legacy for future generations.

The Old Money advice on how to be rich?

You want to learn to be rich, learn from those who have "been there, seen that, and done that."

Here are the "old money" advice,

1. Do what you are good at -

An invaluable piece of advice that I once heard from a billionaire who is the proud owner of a highly successful insurance company, he told his son right in front of me.

This billionaire emphasized the importance of honing in on one’s strengths and leveraging them to build wealth.

Stick to what you know best and good at. Stop looking elsewhere.

This advice is fundamental to wealth creation: specialization can lead to mastery. When you focus on what you excel at, you can develop a competitive advantage, which is crucial in today’s fast-paced, ever-evolving market.

By dedicating your time and energy to your strengths, you not only enhance your skills but also increase your chances of success in your chosen field.

This can lead to greater job satisfaction, higher income potential, and ultimately, financial independence.

2. Balance between passion and money -

While pursuing your passion is undeniably important and can lead to a fulfilling career, it is equally essential to recognize that not every passion translates into a sustainable income.

It is crucial to critically assess whether your passion can be monetized effectively.

This means conducting thorough market research to understand the demand for your passion, identifying potential customer bases, and ensuring that your endeavors can be profitable in the long run.

Striking a balance between what you love and what pays the bills is a delicate act, but one that can lead to both personal satisfaction and financial stability.

3. Know yourself and know your enemy -

On your journey to success, it is inevitable that you will encounter challenges, obstacles, and individuals who may not wish to see you succeed.

Understanding your strengths and weaknesses is just as important as recognizing those who can either support or hinder your progress.

Building a network of mentors, advisors, and allies who can provide guidance, share knowledge, and offer connections is crucial.

These relationships can be invaluable as you navigate the complexities of your career or business.

Additionally, being aware of potential adversaries—whether they be competitors, naysayers, or even self-doubt—will equip you with the foresight needed to strategize effectively and maintain your focus on your goals.

The skills needed to make and keep money -

To truly thrive financially, it is a must to cultivate a diverse set of skills that will not only help you generate income but also enable you to preserve and grow your wealth.

• Leadership skills are essential. Leaders lead, inspire and motivate others, fostering a collaborative environment that can lead to innovative ideas and successful ventures.

• Negotiation skills are equally important; everyone sells or negotiates. Everybody wants to win. Either you set your terms or have others set them for you.

  
  

• Studying concepts from strategic texts like "The Art of War" offers invaluable insights into competitive strategy, resource management, and the crucial role of adaptability when facing challenges.

By mastering these essential skills, you ensure the ability to generate wealth and sustain and expand it over time.

To be a millionaire you must learn The Art Of War by Sun Tzu.

You need a strategy to win.

Your answer is found in the Art Of War.

In The Art Of War, Sun Tzu says,

To fight and conquer in all your battles is not supreme excellence; Supreme excellence is to subdue the enemy without fighting.

Fighting and conquering takes a lot of hard work, energy, and resources. There are better ways to win your battle. 

MrArtOfWar.com teaches you the strategy to win in life, career, and business.