The Many Shades of Habits

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Habits come in all shapes and sizes.

Some habits are more powerful than others and have more of an impact on your life than others. These types of habits are known as Keystone Habits. Keystone Habits have a ripple effect, triggering the formation of complimentary habits.

Some are stand-alone habits, or Ordinary Habits. These habits have very little impact on other areas of our lives.

Good habits create happiness, prosperity, success, sound health, strong relationships, increase your knowledge/IQ, create longevity or help promote an upbeat and positive mental outlook. Daily exercise, eating healthy, nutritious foods, reading to learn and volunteering with non-profits are examples.

There are also bad habits that create unhappiness, bankruptcy, contribute to failure, poor health, toxic relationships, ignorance, procrastination or make us negative and depressed. Watching too much TV, eating in excess, smoking, drinking in excess and not having control over your emotions are examples of bad habits.

Awareness and tracking of your daily habits is the key to changing them. Once you know what your habits are, you can change them. Adding new habits then becomes much easier and gives you a feeling of control over your life.

The circumstances of your life are dictated by your habits. Good habits, good life. Bad habits, bad life.

Never underestimate the awesome power of habits. The brain created them for a reason. They are a tool. Use this tool wisely. Your life circumstances will mirror your habits.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Sleep Unleashes the Awesome Powers of the Subconscious Mind

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A good night’s sleep supercharges your brain.

Neuroscientists have made some incredible breakthroughs in the past ten years. One thing they have been trying to connect the dots on is the relationship of sleep to brain function.

What they are discovering is fascinating.

Sleep accomplishes so many important things, that it is fast becoming clear sleep may be the most important thing you do with respect to your health and your success.

I’ve written previously about the importance of sleep vis-a-vis memory formation – the hippocampus and prefrontal cortex send signals back and forth to each other, thousands of times during the REM portion of sleep. Like a well choreographed dance, this process converts short-term memory to long-term memory.

Well, another incredible recent discovery is that sleep enables offline communication between the conscious mind (aka neocortex), which all but shuts down during sleep, and the subconscious mind (limbic system and brain stem).

This is important because the subconscious mind is continuously taking in sensory data, behind the scenes. This massive subconscious information accumulation is completely invisible and inaccessible by the conscious mind.

Sleep, however, opens up the doorway between the conscious mind and the subconscious mind via the longitudinal fissure, part of the corpus callosum, which separates the left and right hemispheres of the brain.

When you experience intuition, that little voice inside your head, this is actually the conscious mind sharing with you, information it received from the subconscious mind while you were sleeping.

The limbic system and brain stem, aka the subconscious mind, has been around millions of years longer than the neocortex (conscious mind). Because of this, the subconscious mind is far more evolved and, thus, far more advanced and powerful than the conscious mind. Its ability to gather information from the environment, via the five senses, is far more comprehensive than anything the conscious mind is capable of gathering.

In short, the subconscious sees things that the conscious mind can’t see.

Any information the subconscious gathers, and deems important enough to share with the conscious via intuition, will therefore be information it considers critical to your health and your success.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

 

Spending Mistakes That Will Make You Poor

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Rich or poor, there are four common spending mistakes that sap your wealth. The key to growing and maintaing your wealth is avoiding these spending mistakes.

Want Spending

Want spending is buying what you want, when you want it, without considering the consequences. Want spending is driven by envy, an emotion that is fueled by negative thinking. The remedy to envy is gratitude. Gratitude is the gateway to positive thinking, forcing you to focus on what you have, not on what you want.

Spontaneous Spending

Spontaneous spending is driven by four factors:

  1. Emotional Highs and Lows – When you feel very optimistic about the future, you will engage in Spontaneous Spending. You assume the future will be brighter, higher income, more sales, etc., you can fall into the trap of Spontaneously Spending your income, eschewing it for savings. Express gratitude every day for the good things you have in your life. This shifts your thinking from negative to positive.
  2. Decision Fatigue – Everyone has about 3 hours of Willpower Energy. Willpower Energy is greatest after a good night’s sleep. When willpower is high, your prefrontal cortex is in complete control of your brain. When willpower is low, the emotional center of the brain, takes control and directs your behavior. When your emotional center is in control, you make bad decisions, spending being one of them. This is why the supermarkets place products at the checkout lines – they know that you have depleted your Willpower Reserves, and are suffering from Decision Fatigue. The remedy is to wait until your Willpower Reserves are restored. In other words, “sleep on it”. A nap or eating a light snack will also restore Willpower Reserve.
  3. Inner Circle – If those inside your inner circle suffer from poor spending habits, they will infect you with their habits. You will find yourself emulating their habits and, thus, their behaviors, thinking and emotions. Change who is in your inner circle, from spenders to savers.
  4. Impairment – Drugs and alcohol impair your thinking and lead to spending mistakes. Never spend money when you are impaired. Wait until the effects of the drugs or alcohol to fade, before making any spending decisions.

Lifestyle Creep

When you increase your spending to match your increased income, you are suffering from Lifestyle Creep. Lifestyle Creep is typically incremental. You incrementally increase your spending without realizing it. The remedy is to fix your savings rate. Example, saving 20% of your income, always. This acts like a buffer, preventing you from spending too much and keeping you on track with growing your wealth.

Supersizing Your Life

When Connor McGregor fought Mayweather in 2018, he received a $30 million guarantee. Upon receipt of his guaranteed money, he purchased a $17 million yacht. He didn’t have enough money left over from the guaranteed money he received, in order to pay his income tax, and had to use withdraw money from existing wealth.

Supersizing Your Life is driven by a sudden significant increase in income or wealth. Example, large bonus, significant raise, inheritance, etc.

The remedy? Same house, same spouse, same car. Refuse to upgrade your life when your income or wealth rises significantly.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

 

Guaranteed Millionaires

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I’ve written often about the four different paths the self-made millionaires in my Rich Habits Study followed in accumulating their wealth. Here’s a good overview of those four different paths:

4 Paths to Becoming a Self-Made Millionaire – http://richhabits.net/4-paths-becoming-self-made-millionaire/

One of the four path’s is the Saver-Investor Path.

What makes this path so unique is that it virtually guarantees financial independence without the need to climb the corporate ladder, develop mad skills or take courageous risks.

The only requirements in pursuing this Guaranteed Path to Wealth are two: Time, Consistent Saving and Consistent Investment.

Time

It took Guaranteed Millionaires about 32 years to become wealthy.

Consistent Saving

The savings component requires living below your means and consistently saving 20% or more of your net, take home pay.

Consistent Investment

The investing part requires consistently investing what you save and doing so prudently.

The consistent part means regularly putting your savings to work.

The prudent part requires that you do your homework for every investment and continuously monitor and manage those investments.

There are several vehicles in which the Guaranteed Millionaires in my study invested their savings:

  • Retirement Plans – 401K Plans, 403b Plans, 457 Plans, IRAs, etc.
  • Equities – Stocks, Bonds, Mutual Funds, etc.
  • Real Estate – Rentals, Triple Net Leases, REITs, etc.

The Guaranteed Millionaire Path is available to almost everyone. The key to pursuing this path is living below your means.

In order to live below your means you must create a standard of living where your living costs are 80% or less than your net, take home pay. This requires making sacrifices, working a second job (or side gig) or both.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

 

A Simple Brain Hack To Double Your Memory

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As many of you know, my habit research has taken me down the brain science rabbit hole. Habits, after all, are brain-driven.

In order to help me better understand the how and why of habits, I’ve studied nearly 20 books on brain physiology, NeuroScience, Neuroplasticity, Epigenetics as well as countless studies on these related subjects.

Every now and then I stumble across something in my daily study that stops me in my tracks. Long-term memory formation is one of those things.

During the day, the brain stores facts and other information it comes into contact with, via its five senses, in an area of the brain called the Hippocampus. Think of the Hippocampus as a temporary short-term memory dumping ground.

During sleep, the Hippocampus loops the information it acquired during the day back and forth to the Prefrontal Cortex. If the Prefrontal Cortex deems the information to be important, it will store that information somewhere in the brain for future retrieval. This is known as Long-Term Potentiation, or long-term memory.

If you do not access that new long-term memory on a regular basis, the neurons responsible for storing that memory, weaken. Eventually, the memory will fade away and the neurons will be repurposed for something else.

The Cerebellum, is a part of the brain that stores memories related to motor movement. The more frequent the motor movement, the stronger the neural synapse holding that memory will be inside the Cerebellum.

Every time you write down a fact or any new information, the Cerebellum is called into action. Like the Hippocampus, it will temporarily store that new information. If you repeatedly write down that same information, the neurons holding that information inside the Cerebellum grow stronger.

The act of writing down information also serves as notification to the Prefrontal Cortex that you desire to retain that information as part of your long-term memory.

So, the act of repeatedly writing down information you want to remember, actually forces both the Prefrontal Cortex AND the Cerebellum to separately store that information as long-term memory, essentially doubling your retention.

Pretty cool!

When you understand how to hack the brain, you boost your brain power. When you boost your brain power, you also boost your odds of success.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Courage is a Habit

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“Courage is admired so much because it is lacking in so many.” Dr. Ben Carson

The courageous know that they will fail and make mistakes, yet they pursue their dreams and goals anyway. Failure and mistakes cost time and money and this results in setbacks and disappointment.

Most are unwilling to incur these costs and the emotional roller coaster ride that is part of pursuing a dream or big goal. So, we admire the courageous few who follow their dreams or pursue big goals because it requires taking risks most are unwilling to take.

But courage is not something endowed by a creator or embedded in your DNA.

Courage is a habit.

The 145 self-made millionaires in my study (82%) who pursued some dream did so because they made courage a daily habit.

The process of making courage a daily habit is really a simple one.

Tackle one fear at a time. Start with small ones. This helps you build confidence and empowers you to tackle bigger fears down the road. Eventually, overcoming fear will become a habit – courage will become a habit.

We only have one shot at life. Most fritter it away, too afraid to pursue big dreams and audacious goals, that make life worth living.

Don’t be afraid to pursue a big goal or life dream. The older you get, the more you will grow to regret not taking a chance on yourself. You deserve to have the life of your dreams. Don’t let fear hold you back.

Make courage a daily habit.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Don’t Worry About HOW

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The pursuit of dreams, sets you free. That freedom comes from facing and overcoming adversity.

The pursuit of a dream forces you to grow in knowledge and skills. And as your knowledge and skills grow, so too does your confidence.

Limiting beliefs that previously held you back, fall to the wayside as you crash through one obstacle after another in pursuit of your dream and the goals behind your dream.

Fears, doubts and other long-held limiting beliefs all melt away and are replaced by new positive beliefs born from overcoming adversity.

Passion for your dream endows you with the resilience to overcome obstacles.

Somehow, you find the working capital to forge ahead.

Somehow, you gain the knowledge you need.

Somehow you develop the skills you need.

Somehow you forge relationships with others who will open doors for you.

Your dream is your WHY. Your WHY wakes you up every morning, inspiring and motivating you.

The HOW is really not important. It will eventually be revealed to you.

When you relentlessly pursue something big and meaningful, that you are fanatically passionate about, everything you need in order to succeed eventually manifests itself.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Those Who Refuse to Quit Never Fail

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Tom Corley boats - cropFear holds most people back.

It holds them back from taking risks.

It holds them back from stepping outside their comfort zone.

It holds them back from pursuing dreams and audacious goals.

It holds them back from forging new skills and building Rich Relationships.

Those who pursue a course that is very much off the beaten path; a course most would advise against because it has such a remote chance of success, have chosen to pursue greatness.

Greatness is an evolution. It is the byproduct of daily growth.

To the outside world, the pursuit of greatness is invisible until an individual pursuing success, succeeds.

Conquering your fears creates passion. Passion inspires you to take action and endows you with persistence. The persistent, eventually get lucky.

Those who never quit have made the choice to be great.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Success Podcasts

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Tom Corley boats - cropSuccess is not an accident or random event. It’s a process.

This process involves pursuing a big goal, passion or some dream.

You see, successful people do certain specific things every day, often for many years, that cause success to happen.

I am convinced that successful people are successful because of the habits they adopt – habits that are intricately linked to their dreams, passions and goals.

I like to call them Rich Habits.

If you want to be a successful accountant, find out what the best accountants in the world do every day and then duplicate their habits.

If you want to be a successful writer, find out what the best writers in the world do every day and then duplicate their habits.

If you want to be a successful entrepreneur, find out what the most successful entrepreneurs do every day and then duplicate their habits.

Successful people process success by doing certain things, consistently every day, relentlessly. You can find what those habits are by reading autobiographies of successful people, watching YouTube videos to gain skills, going to seminars, TEDx videos, and podcasts.

There are hundreds of podcasters out there interviewing successful people or people on the verge of success. In the age of this digital boom we’re experiencing, learning about success is now real time.

Individuals pursuing success are everywhere. Here’s a list of some of my favorite podcasts:

There are many more here: https://player.fm/podcasts/Success

Find one you like and listen to it while running, working out in the gym, gardening, hiking, biking, commuting, etc.

Success requires daily growth. Making growth a daily habit, automates that growth.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

 

Experiment Until Your Heart Sings

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Tom Corley boats - crop7% of the uber-wealthy in my Rich Habits Study loved what they did for a living.

Conversely, 97% of the poor in my study do not like their job.

You’ve got one life. Living it doing something that does not make your heart sing, results in a life of mediocrity.

How do you expose your innate talents?

Experimentation.

One day each week, earmark one hour to try something different – something you never attempted before that pushes you outside your comfort zone.

One of two three will happen:

#1 You will struggle and hate it, or

#2 You will struggle and enjoy it, or

#3 You will find it easy for you to do and hate it, or

#4 You will find it easy for you to do and enjoy it.

You’ll uncover a previously unknown innate talent when the new activity comes easy to you and doing it makes your heart sing.

If you devote a year, or 52 weeks experimenting with new activities, you will unquestionably find a number of activities that fall into this last category (Category #4).

Your Category #4 Activities are innate talents or gifts you were born with. You were genetically hardwired to engage in these activities because they come easy and are enjoyable.

If your innate talent can be monetized, your job is to become a Virtuaoso in that talent. Virtuosos are paid a premium for the product or service the provide. That premium results in a higher income and greater wealth.

You will only have a chance to find that thing you love to do if you push yourself out of your comfort zone and experiment with new activities.

When you find the thing you love to do you will know it – passion will bubble up inside you. Passion is the fuel of all successful people. Passion is your brain’s way of screaming to you – This is what will make you happy and successful in life!

If you’re not doing what you love to do, you will not be happy and you will not become successful in life. You will live a life of mediocrity.

Experiment. Find your innate talents. Then devote your life to becoming a Virtuoso in those innate talents.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!