2 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

CONTENTS IS THERE ANY HOPE FOR THEM? ................................................................................................................. 3

OPEN-MINDED ................................................................................................................................................... 5

ACCEPTING IT AS IT IS ..................................................................................................................................... 6

WHAT REALLY DRIVES ECONOMIES? ......................................................................................................... 7

DOING WHAT MAKE SENSE... RARELY MAKES MONEY......................................................................... 8

IT ALL BOILS COMES DOWN TO... ............................................................................................................. 10

LOOK AT IT FOR WHAT IT IS ......................................................................................................................... 12

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3 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

IS THERE ANY HOPE FOR THEM?

Some professions in life hold a high level of responsibility, and in return, you would think a hefty paycheck would follow. While this is true for the bulk of professions out there, there is one that can never progress past a certain level of wealth.

Economics Professors are usually brilliant and wise people, but they are a great example of "IQ and intelligence doesn't equate to more money." While some of their salaries may land them in the top of the 1% earners, for some odd reason(s), wealth never seems to be attracted to them.

Today we will be uncovering the real reason why economic professors never get rich. Spoiler alert, the main underlying factor, lies in their mindset and beliefs. All the points we cover from here on out can all be tied back to perspective, mindset, and thinking.

As you may know, the statistic that says 1% of the world controls 99% of the world's wealth has been circling the globe for decades. Research, studies, and interviews have been conducted on these 1% 'ers to see what was so different about them.

4 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

The results were not that shocking, and a let down to most that we're looking for that "big" secret. In fact, they all shared common traits that any of the 99% of the population could adapt themselves, including the economic professors.

When it all boiled down, the one main foundational trait that they shared was their mindset of abundance they lived by, unlike the majority of the world who had a mentality of scarcity. But no one is pointing blame here.

The mega-rich all also had mentors who taught them the value and importance of being a visionary, having an abundance mindset, never limiting their success through small thinking, not living in the past, and not living by society standards.

And those are just a few of the reasons why economic professors never get rich.

5 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

OPEN-MINDED

One of the big five personality traits that are tied with success is openness. This also happens to be one of the Entrepreneur's strongest traits. They see opportunities where others see nothing. They look at what's normal and see how they can make it extraordinary. On the other hand, economists tend to take everything at face value. Nothing more, nothing less. While that has undoubtedly proven beneficial in some areas of life, if you are looking for a quantum leap to riches, it is not.

This could be because of their personality, experiences, mentors, maybe a paradigm that has been passed down through generations or a mix of all the above.

Even ranging back to grade school, certain traits each of these individuals displayed would determine their future success. An entrepreneur in school was the kid with subpar, and maybe even horrible grades—the C student.

The economics professor? Straight A student, academic overachiever. The Entrepreneur was the one who couldn't focus, was always talking, always pushing their boundaries (which frequently landed them in trouble.)

The economist was the obedient student, always had their homework turned in on time (if not before deadlines.) The occasional teacher's pet. The economist showed traits at an early age as the "perfect" employee. One who would always work hard, get his work done (and then some), never question authority, and never push back.

The Entrepreneur, on the other hand? The complete opposite! In the workplace, they aren't scared to speak their mind. If they don't agree with something upper management has implemented, they make sure that everyone knows where they stand. And this leads us to our next point.

6 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

ACCEPTING IT AS IT IS Research, data, facts - this is what an economist lives by. And they stay within the box of results. And it is that same box that limits their success with money. They do not question the numbers, how they can improve them, or if they even can at all. They are more agreeable in a sense.

They base the future off of the past and present. And in a world that has been evolving faster in the last century than all others before it combined, no data and or calculations can accurately foresee the exponential growth that lies ahead.

For example, when the invention of the gas engine surfaced, no economist could predict that an invention like the internet would follow it some hundred years from then. Maybe they had planned for a better engine (because that was the logical outcome.)

They did not know how to accurately capture in their mathematical formulas the invention of new technologies, devices, and opportunities that each one presented.

While they tend to be a bit more conservative in nature, they are exceptionally conservative with their way of thinking that everything has to progress step by step. They do not take into consideration that a quantum leap is possible for any situation.

7 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

WHAT REALLY DRIVES ECONOMIES?

Of course, supply and demand, buying, selling, trading, or the exchange of money for goods or services. But what or who makes this possible? Entrepreneurs. An excellent economy is created by products of inventions, innovation, and discoveries.

And Entrepreneurs provide all of those. When an innovation is first made public, a lot of doubt, hesitation, and skepticism forms around it. Soon, everyone seems to be adapting it into their daily lives and thus becomes a driver or helper of the economy and GDP.

Think about the first vehicles that were ever produced and sold. Going from horse and buggy to an engine inside a buggy that powers itself were probably a concept that not many people could wrap their heads around at that time.

But eventually, automobiles begin to replace the horse and buggy, a setup that had been used for hundreds, if not thousands of years leading up to that time.

The more automobiles became in demand; the more jobs were created, which pumped money into the economy. Economist back then. Thinking logically based on history's past results, we would have never guessed that we would be where we are today, 100 years later, with self-driving cars.

They're good at analyzing and conceptualizing past results and performance but lack vision for growth based on opportunity and "what if's."

8 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

DOING WHAT MAKE SENSE... RARELY MAKES MONEY

Economists use logic. That is the foundation of their decision making, beliefs, and how they present arguments. And the filthy rich entrepreneurs? Oh, the hate logic. They feel that logic limits them - and it does.

Economists have a very linear way of thinking; if it doesn't fit, they don't try to make it fit or even question it, it's on to the next one. Entrepreneurs are the "why" people. How many economists have you heard of that quit their secured jobs to go and start a business?

Their excuse? "The business may fail, and then I would be left without income. Then, my family may struggle, so instead, I'd rather not take the risk."

The Entrepreneur? "If I don't seek a way to improve this or create something better, maybe offer my services to the world, then I will die unhappy working a job that my family knew was not my passion, and therefore my kids may follow my lead, and I would be doing more in-direct harm to everyone by not pursuing my own business.

Economists don't have the ability to see the big picture; they form their opinions and insight based on what has already happened and look to support that thesis, not create new ones to find out how they could be better.

9 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

The 4-minute mile challenge was a great example. Many individuals had tried for years to break this record and failed. They were either competing for professional athletes or well seasoned and experienced runners.

After years of everyone who attempted to break the challenge failed, economists begin to form reasons as to why it was so. "It was their bones, their o2 level in their blood, their muscle density," and so on. They had real - present results of the failed attempts and made their research-based upon that.

Then one day, the 4-minute mile record was finally broken. And guess who broke it? A marathon runner? Maybe it was a soccer player or another type of professional sports player? Nope, it was a random individual who wasn't even a runner!

This shocked everyone, especially economists. No amount of research could justify what had just happened. Well, no amount of their study and forward-thinking could. They were stuck in one that tracks the mind train of thought.

10 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

IT ALL BOILS COMES DOWN TO...

Perspective. The possibilities and "what if's" are what fuels entrepreneurs. Entrepreneurs know that they are one small invention from making the world a better place and completely transforming an industry.

This is way too extreme of thinking for an economist. And it is for that reason why Entrepreneurs end up being filthy rich and economists... not so much. Sure, entrepreneurs expose themselves to more opportunities, which means they have higher chances of failing... but at the same time means they also have higher chances of succeeding.

The economist is the type of "victims" of their environment. They believe that if the economy is performing poorly, their own personal financial situation will follow suit. Their success relies on their surroundings.

Entrepreneurs know that the power to thrive or survive lies barely in their hands and not anyone else's. They do not tie their success to the economy, yet they look to match the economy to their success.

It's the classic example of how more millionaires are made in times of recession and turmoil than any other time that an economy may face. The economist falls into the thinking of the 99%, following the crowd. At the same time, the Entrepreneur does the exact opposite of the crowd.

11 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

When economists say it is "logical" to contract, the entrepreneurs choose to expand.

"Where there is no optimism or inspiration, and people look up to the economic report, poverty is bound to be created."

Logic kills, out of the boxing thinking creates and brings forth life. If the economy is trending down, the economist will say to save your money and only spend it on food and shelter because no one knows how long they will remain in that state of the economy.

The Entrepreneur, on the other end of the spectrum, feels like this is the best time to purchase real estate, stocks, bonds, and other assets that will surely rebound with the future economy.

While food is essential to them, they do not fall into the fear trap that the sky is falling. They are open-minded enough and have enough vision to see the possible future outcomes. Either the world will end, or things will be rough for some time, but will return to normal, and maybe even better.

12 ELITE MEMBER INSIDER SERIES THE REAL REASON WHY ECONOMIC PROFESSORS NEVER GET RICH

LOOK AT IT FOR WHAT IT IS

As long as economists stick to this one-track mind of thinking, they will always end up with the same results. We understand that a lot of their behaviors (like the rest of us) are based on their personalities, and there is nothing they can do (or should do) to change that.

But by implementing just slight shifts in their perspective, keeping an open mind, and understanding that past performance is not always indicative of future results, more opportunities to amass wealth will present themselves to them.

It all comes down to mindset - a mindset of abundance. You are either a victim of your surroundings or a leader to your surroundings. As long as the majority of people, including economists, continue to travel down the path most taken, it will always be the 99% vs. the 1%.

Just because it rained on this day last year, doesn't mean that it will today, in the future. And the same goes for next year. It may even snow! Who knows? I guess you'll just have to keep an open mind about it!