The majority of rich people are successful business owners. I believe some eighty percent of millionaires fit this category. And it makes sense. As an employee your allowed tax write-off’s for children and a few other expenses, but over-all most would agree this isn’t nearly enough. On the flip side, as a business owner, there is seemingly no limit to the deductions you can claim. Does your business take you out of town for a seminar? You can write any meals off for tax purposes while you’re there. See a movie while your waiting for the conference to start? Even that can be partially written off. Do you use your cell phone mainly for business? Write it off as a tax deduction. And you drive a lot for your business, you say? Either your car insurance can be written off or any mileage you drove on business. And that is just the beginning.

The truth is, a business is an asset. The real difference between rich people and poor people is that the rich have learned to gain as many assets as they can. When that ship comes in, they can have as many liabilities and luxuries as they desire. Yet, we as the “average American” delude ourselves into believing that our “good job” is on its way and we rack up as many liabilities as we desire then struggle to keep up any assets we’ve managed to gain along the way. What I’d like to believe is that the only real difference in someone getting richer versus someone getting poorer, is that the one progressing knows what an asset is and gets as many as he can, while the one digressing spends money on things that never return a profit and wait for their ship to come in. The real difference is just in your mind set.

While I haven’t set out to solve our money problems as average Americans, I have set out to offer a perspective. Many of us have never been told this idea of why some are rich and some are poor. By telling you, I want to enlighten you. It’s really up to you to decide how to use what you’re told. Just remember, For richer or Poorer, you can still choose which side of the spectrum you want to live on.