Recently read the book the Top 10 Distinctions between Millionaires and the Middle Class by Keith Cameron Smith, Random House 2007. Besides millionaires have more money, Mr. Smith outlines some philosophies that may or may not end you up as a millionaire he does have some good points.

10 Millionaires think long-term, the middle class thinks short-term. The theory is millionaires consider what will have in decades, similarly you may know people who go either day by day or year by year. The reality is years go by fast, if you set a long term goal, it will require patience to gain it, but it also sets up thinking about what will or could happen in a decade or more and you can act on it.

9. Millionaires talk about ideas, the middle class talks about things and people. If you discuss ideas, at some point in time you will act on those ideas. How will we communicate? How will our products and services change? When you have a reasonable answer, the movement from should have to I will happens.

8. Millionaires embrace change, the middle class is threatened by change. This is similar to is the glass half full or half empty? Change means opportunity, look for it.

7. Millionaires take calculated risks, the middle class is afraid to take risks. To take a risk is a calculated risk and to arrive at the calculation, ask you yourself 3 questions – what is the best thing that could happen? what is the worst thing that could happen? and what is the most likely thing to happen? If you can live with the worst thing happening, and if the most likely thing to happen will get you closer to your goals – go for it.

6. Millionaires continually learn and grow, the middle class thinks learning ended with school. If you read, you may see something to spark your ideas, see a concept which you can apply to your business or life.

the other five will be in tomorrow’s post.

Linking to dividend paying stocks, long term thinking, profitable companies embracing change are attributes of dividend paying stocks.

There are more questions than answers, till the next time – to raising questions.