Rich and successful friends will make you rich! In a conversation attributed to F Scott Fitzgerald and Ernest Hemingway, Fitzgerald said “The rich are different from you and me.” Ernest Hemingway responded: “Yes, they have more money.” Believe it or not the money is not what you want from rich people, but the connections and what you can learn from them. Do the rich think differently from you?
Background
I have been around rich people all my life. Notice I did not say I was one of them. I did not know that my parents were rich until I was an adult. I was brought up by parents who lived through the Great Depression. The only time they borrowed money was their first mortgage in 1929. I learned a great deal from them firsthand seeing how they think and made decisions. Their priority for me was a good education. I started school around four years old which was the beginning of my journey through private education.
My parent’s first home was in an upscale area of New York City. My neighbors were my doctor, dentist, and other professionals. Did that matter? Absolutely! I went to camp every summer with the children of my neighbors and other successful people. I never knew that I was experiencing something special or unusual. I was exposed to what rich and successful people do with their children. Later, in school I saw how they approached their studies and goals. As an adult, I looked for the same kind of people as friends.
Who are your targets?
There was a famous bank robber named Willie Sutton who was asked why he robbed banks? Supposedly, he answered “because that’s where the money is.” If you want to be rich and successful, you need to hang out with rich and successful people. If you are lucky enough to be part of an affluent neighborhood or enrolled in an affluent or private school, it makes it easier. Your neighbors’ children or fellow students are your playmates. As adults, you have to be much more proactive because you go out and make friends at work or socially. How do you do it?
Similar to Willie Sutton, you go where rich and successful people hang out. It could be places where they may share an interest, activity or sport. Where do you make friends? Generally, it is people at work, clients, social venues and friends of friends. Networking is not just for business purposes. You might just find influential people who are on their way up who you may like. Most of my friends were colleagues, industry leaders or friends of friends. You look for people you may have something in common which may be a desire for more success.
One of my first professional jobs was in a Fortune 100 company as an accounting supervisor. Most of the people I interacted with on a regular basis were either my peer, or higher. Everyone was sharp which brought up my game. You almost could not miss by just joining various peers for lunch or networking/industry meeting. How would you identify a future rich or successful person? I do not think it is hard to figure out who the movers and shakers were. Just look around who is getting promoted or recognized for a project or accomplishment. I was part of a team to replace software for the entire organization. It required a lot of interaction with departments and testing the software. I was highly visible and everyone knew me. It is much easier to make friends when you are already working with a lot of people.
My daughter early in her career was selected to present reports to a management committee every week. She had exposure to the president, vice presidents and other managers throughout the company. This exposure gave her opportunities to meet and become friends with other up and coming people in the company. Work is not the only place to meet successful people, you can join industry associations, country clubs, alumni associations, social organizations or any organization you have an interest. Non profit, museums, membership and volunteer organizations all attract rich and successful people. Do you take advantage of every opportunity you can to meet other successful people and learn from them?
Final thoughts
If you are where other successful people live, play, socialize or work, you just need to take the opportunity to meet and get to know them. Better yet, if they become friends or associates that you can call on them for advice or just hang around them to see what they do. Look for successful vs unsuccessful people traits in your friends. Are all rich people worthy of emulating? NO! You have to pick and choose your friends carefully. I suppose if Warren Buffett were my friend, I would learn a great deal, but I would not do everything he does nor would I want to. I do not have billions nor am I worth billions of dollars to invest. Go learn from your rich and successful friends.
Photo by: devinish
Carnivals:
Carnival of Retirement at Money Q & A
Yakezie Carnival at 20 and Engaged
Carnival of MoneyPros at Sweating The Big Stuff
Canadian Finance Carnival at Canadian Finance Blog
Carnival of Financial Planning at Frugal Zeitgeist
Financial Carnival for Young Adults at 20’s Finances
Festival of Frugality at Budgeting with the Bushmans
Go learn from your rich and successful friends.
Completely agree. Surrounding yourself with success will encourage you to be successful as well. I will say that if those successful people are also wasteful then you’ve got to be very careful about being wasteful as well. I’ve got a couple of friends that have done extremely well. I now worried that their lives have experienced too much inflation!
I would not say all rich successful people should be your friends. I know some that are ruthless, bad parents and other attributes that I find undesirable. If you surround yourself with rich successful people, you can choose who becomes your friends or associate with.
I’m an idealist. While this gets me into trouble more often than not, I like to believe that I can learn something from most people, no matter their net worth. Wealthy people are flawed too, and probably no happier than the middle…they just get to do and buy more.
Very true!
I agree with Hunter. You can find so many people in all walks of life from which you can learn a lot. It’s really up to the individual person to pick and choose which traits they wish to emulate from each group.
I find people absolutely fascinating. I sometimes wish I was a reporter and could ask a million questions. Successful people are even more fascinating because I get to learn from them.
I’ve found wealthy (entrepreneurial) contacts and friends to be invaluable. they provide ideas, inspiration and even business opportunities. For instance, my one college buddy was highly entrepreneurial and now we own an outsourcing firm together. Additionally, a co-worker of mine had been buying up college real estate properties left and right over the years and now we’re partners (funny timing, I just posted tonight how we might be getting screwed by one set of tenants but anyway…). I learn way more from them than people who “get by” or don’t have ambitions to do more.
I gravitate to successful people because I identify with them. In addition, it is a great resource to test ideas and receive counsel.
This post resonates well with my thinking. I came to the States with $20 in my pocket and have built three hotels. I believe that I have achieved this success due to my association with winners. How coincidental that I just wrote a post that emphasize this very point you are making.
Interestingly, I wrote this article nearly two weeks ago thanks to a commenter suggestion. There is a lot we can learn from more accomplished and successful people.
Thanks for linking the carnival Krant.
You’re very welcome.
I have very poor opinion of MBA programs offered especially considering how some of the hotshots almost brought down the economy. But I still think it is worth it because of the kind of people you’ll get to meet.
You have the chance to be a part of a prosperous network.
College and Grad school alumni can be an invaluable network. Particularly, the successful ones. Keeping and maintaining your network is important.
I received my MBA and it was entirely worth it from just the networking and meeting people perspective. I totally agree with Krantcents that hanging out with the future up-and-comers is invaluable to get on the right track in the future.
It is your network, who would you rather exchange information and interact with? Successful people or unsuccessful people?
“Rich and successful friends will make you rich! ”
That’s a very powerful and insightful statements. Sometimes my project-related time and hobbies creep into time that I should be allocating to networking with champions. I definitely need to do better 🙂 Great post.
Networking is finding people who can help you to your goal. Better yet, make them your friends.