Are You a Red Oak or a Cherry Tree?

tip-o-the-morning

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The average Red Oak tree takes 50 years to produce its first acorn. But it will produce acorns for up to 350 years, before it dies. Conversely, a Cherry tree takes about 4 years to produce sweet cherries but its longevity is short-lived. It will produce cherries for about 20 years before it dies.

Very few get rich quick. According to the National Endowment of Financial Education, about 70% of all lottery winners go broke within a few years. Success, like the mighty Red Oak, takes a long time before it bears fruit. It took the average self-made millionaire in my study 32 years to become rich and successful. The wealth they created, however, will bear fruit for the rest of their lives and leave a legacy of wealth that can benefit future generations.

If your goal is to become successful, you must build a foundation of success. This takes time. But the longer it takes, the more sound the foundation. So, I ask you, which tree will you plant today, a Cherry tree or a Red Oak tree?

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, and hold a master’s degree in taxation. As president of Cerefice and Company, CPAs, Tom heads one of the premier financial firms in New Jersey.
 
Phone Number: 732-382-3800 Ext. 103.
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