Middle class vs rich people

I was thinking about what would be the difference between rich people and people from the middle class.

Both of them are educated and some very rich people are coming from a middle class or even poor families. So what would be the difference?

photo credit: Richard Branson thumbs Shankbone 2010 NYC via photopin (license)

The first one I see is rich people have their own business. They usually started their own small business and grew it up to a very lucrative one.

The second factor I see is they collect ASSETS. Meaning that with their extra money, they bought other businesses, real estate.

The best example is Warren Buffet who is one of the richest man in the world by buying stocks.

Let's focus on this. Even if your means are smaller compared to them, you still can "collect" assets.

Rich people buy other businesses but you can too! Just buy one small part of that company. This is called... STOCKS! Buy as much as stocks you can. It's the easiest way to own one part of a big company. Have you ever dreamed owning BPI, Ayala Corp or Jollibee? Just buy their stocks and you'll own a part of these successful companies.

You can also own REAL ESTATE. Buy your own house or condo. Even better, take a loan and buy a condo you rent out to someone else. That's the beginning of a real estate business.

You don't have 3 millions to buy a condo in Makati. That's ok, buy a farm land in the province and rent it out to a farmer or start a farm yourself.

As you see, you can also "collect" assets. It's not only for the rich but you must be resourceful in order to make it big.

Rich people are not defined rich because of their salaries. They are defined rich because of their ASSETS!