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Difference Between an Average Investor & Rich Investor

We answer below a few differences between an average investor and a rich investor as it can help you understand the difference of mentality and you can know what all you need to undertake action to get into the league of an elite rich class.
 (Avg Investor): My house is my biggest investment. In India we have a penchant of owning the house and thus we need to first off all explore that whether we will be comfortable without a house.
(Rich Investor): A house is a liability. You can see a video where Robert Kiyosaki considers house as a liability.
(Avg Investor): Diversification reduces risk
(Rich Investor): Diversification is de-worsify-cation (Warren Buffett quotes)
(Avg Investor): Stock market is risky
(Rich Investor): Risk comes from not knowing what you are doing
(Avg Investor): Avoid risk
(Rich Investor): Take more control and manage risk
(Avg Investor): Mutual funds are good investments
(Rich Investor): Mutual funds are good investments when you sell them (That is why big companies sell mutual funds)
PS: If you think mutual funds are not risky, try going to a bank and ask for a loan to buy mutual funds, you'll be laughed out.
(Avg Investor): Real estate never comes down (extremely popular in India)
(Rich Investor): All markets go up and down
(Avg Investor): Saving money is good
(Rich Investor): Saving money pays maximum ~8% before tax, inflation is ~10%, so saving money is a guaranteed loss. (Inflation India 2012)
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