The truly wealthy are a bunch of fat cats who are to be despised, right? Thinking like that may be holding you back from accumulating your own wealth.
Australian money photo by Shutterstock
That’s the thinking of psychologist Dr. Brad Klontz, who argues that what happens when you associate “rich” with “bad”, possibly at an early age, is that you set yourself up for failure later in life.
Because you’re associating wealth with negative stereotypes around the worst types of rich people, which shouldn’t be applied to everyone who is wealthy. But once you’ve got that idea in your head, it’s likely to stay there, resisting shifting and subconsciously affecting your own financial outcomes.
“The psychological cost would be too high. It also explains, in part, why many people unconsciously sabotage their financial success, believing that wealth and integrity cannot coexist.”
A psychologist says disliking rich people can keep you from becoming one [Business Insider]