I recently watched a video by Nischa, a qualified accountant and former investment banker, and her insights completely reshaped how I view wealth creation. For years, I had been trapped in the typical cycle—work, make money, pay bills, repeat—thinking that was just how life worked. But Nischa’s perspective made me realize that the truly wealthy opt out of this system by thinking differently and making strategic moves that compound freedom, not just income.
The 25 Words That Define You
One exercise that stood out was what Dr. Tara Swart calls the “25 words” technique. Nischa explained how you draw a tree with five branches representing the five people who influence you the most, and for each person, you list five words that describe them. In the end, you have 25 words that reflect who you are. When I did the exercise myself, I found the results to be both uncomfortable and revealing.
If those 25 words don’t align with who you want to become, Nischa emphasized that it’s time to expand your circle or consume content from people who embody the qualities you’re seeking. This self-awareness is essential for wealth building, as the people around you influence your mindset and shape what you believe is possible with money.
Nischa’s message about mindset really hit home—wealth creation isn’t just about making more money, it’s about thinking differently and taking action that aligns with the life you want to build.
Own First, Spend Later
The single biggest difference between the 1% and everyone else is their relationship with assets. Wealthy people prioritize owning appreciating assets before spending on depreciating ones.
They focus on building portfolios of things that grow in value:
- Property investments
- Long-term market investments
- Education that leads to measurable returns
These assets work for them, generating income and growing net worth. Meanwhile, most people focus on depreciating assets—things that lose value immediately after purchase like new cars or the latest gadgets.
The wealthy aren’t avoiding nice things. They’re just using income from their appreciating assets to fund those purchases. Their investments pay for their lifestyle, not their salary.
Obsession Drives Success
The ultra-wealthy don’t stumble into success by accident. Their achievements stem from a burning passion that fuels their mindset and keeps them moving forward.
As Napoleon Hill wrote in “Think and Grow Rich,” desire is the starting point of all achievement—not hope or wishes, but a keen, pulsating desire that transcends everything.
When you’re truly focused on a financial goal, your subconscious mind goes into overdrive. You begin noticing opportunities that would have otherwise passed you by. Not because they magically appear, but because you’re now tuned in to see them.
Plan Well, Act Fast
Successful people excel at turning abstract desires into actionable, measurable plans. They don’t just dream or wait for the “right time”—they map their route to success and make things happen.
Dr. Gail Matthews’ study on goal setting proves how powerful structure and accountability are:
- Only 43% of people who merely thought about their goals made significant progress
- 76% of those who wrote down goals, created action plans, and had regular check-ins achieved their goals
This dramatic difference shows that success isn’t just about having goals—it’s about having a system to achieve them.
The Language of Possibility
While watching Nischa, I was struck by something fascinating she shared about wealthy clients. When presented with an opportunity, their first question wasn’t “Can I afford this?” but rather, “Will this make me more money?” This mindset was a game-changer. Instead of focusing on what they couldn’t afford, they always considered how they could leverage opportunities to grow their wealth. This shift in thinking is a critical lesson for anyone looking to build financial freedom.
If the answer was yes, they immediately moved to “How can I make this happen?” They didn’t get caught up in the price tag or shut doors before checking if there was a way in.
The language you use around money matters tremendously. When you default to “I can’t afford it,” your brain shuts down. When you ask “How can I afford this?” your brain gets to work.
This shift from scarcity to creativity, from limitation to possibility, is crucial for wealth building.
Making Your Own Luck
Many attribute success to luck—being in the right place at the right time. While timing matters, I believe we make our own luck through decisive action.
The wealthy don’t wait for perfect conditions or guaranteed outcomes. They take calculated risks and figure things out along the way. They’re proactive, not reactive.
Next time you catch yourself saying “Maybe it wasn’t meant to be,” pause and ask: “How can I take control here? How do I shift from fate to intention?”
Building Income That Doesn’t Rely on You
Perhaps the most powerful shift is focusing on building income that works without you. The truly wealthy are intentional about creating passive income streams that flow whether they’re on vacation, sleeping, or spending time with family.
Most people operate in a cycle: work, earn, spend, repeat. We’ve been conditioned to be good employees who trade time for money. This thinking traps you—and it applies to entrepreneurs too, not just employees.
The top 1% know the end goal isn’t just making money—it’s building income streams that continue even when they stop working. For example, investing just $100 weekly for 11 years could result in over $100,000 working for you.
That’s the real difference: average people trade time for money; the wealthy multiply money with time.
These seven mindset shifts aren’t just theoretical—they’re practical approaches I’ve seen work firsthand. By adopting them, you can begin thinking and growing rich like the 1%, breaking free from the cycle most never question.
Frequently Asked Questions
Q: How important is your social circle in building wealth?
Your social circle is crucial to wealth building because the five people you spend the most time with shape your beliefs about what’s possible financially. If those around you have limiting money beliefs, you’ll likely adopt similar perspectives. For meaningful financial growth, surround yourself with people who have the financial mindset you aspire to develop.
Q: What’s the first step someone should take to start thinking like the 1%?
Start by changing your language around money. Instead of saying “I can’t afford that,” ask yourself “How can I afford this?” This simple shift activates your brain to find solutions rather than accepting limitations. Then focus on acquiring at least one appreciating asset before your next major purchase of a depreciating item.
Q: Are passive income streams really achievable for average people?
Absolutely. While building passive income takes time and initial effort, it’s accessible to anyone willing to be consistent. Start small—even $100 weekly in index funds or dividend stocks can grow substantially over time. Other options include creating digital products, rental property (which can start with house hacking), or building a business with systems that eventually run without your constant involvement.
Q: How do wealthy people balance enjoying life now versus saving for the future?
The wealthy don’t necessarily deprive themselves—they just change the source of their spending money. They use income from investments to fund lifestyle purchases rather than their active income. This way, they continue building wealth while still enjoying life. The key is creating that initial foundation of appreciating assets that generate enough cash flow to support discretionary spending.
Q: How long does it typically take to see results from these mindset shifts?
Mindset shifts can create immediate changes in behavior, but financial results typically follow a J-curve—things might move slowly or even seem worse initially before accelerating. Most people who consistently apply these principles see noticeable changes in their financial trajectory within 1-2 years. The compound effect of these shifts becomes dramatic over 5-10 years, which is why patience and persistence are essential companions to these mindset changes.