An Australian CEO » has faced backlash on Reddit » after suggesting that a “poverty mindset” is to blame for the worsening financial situation of the poor. Joseph Darby, CEO of Become Wealth, a wealth management company, asserted that concerns about the rich getting richer while the poor grow poorer stem from individuals' own behaviors.
“The rich are getting richer. At the same time, the poor are getting poorer. (But why?) It all comes down to mindset,” he wrote in a LinkedIn » post.
Darby went on to identify specific behaviors he believes contribute to the struggles of those in poverty: “They blame their circumstances, focus on immediate gains, purchase liabilities, seek the cheapest options, think ‘I can’t afford that,’ concentrate on problems, and maintain a poverty mindset,” he stated.
In contrast, he emphasized that wealthy individuals tend to adopt an “abundance mindset,” which enables them to create opportunities and plan for the long term. “The rich invest in assets, seek the best value, ask, ‘How can I afford that?’ and look for solutions,” he added. Read More »
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