Rich Habits Poor Habits – Why The Rich Keep Getting Richer

 Michael Yardney & Tom Corley discuss the results of a 5 year study in why the rich keep getting richer.
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Rich Habits Poor Habits – The Success Beliefs of the Rich

Beliefs represent the acceptance of something without any proof to back up what we accept as fact.

They are inherited unconscious programming. We adopt the beliefs of our parents, family, mentors culture and our environment (neighborhood, town, city, state, country).

Watch this video as Tom and I chat about his 5 year study into the success beliefs of the rich.

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Rich Habits Poor Habits – Turning Goals Into Habits

Watch Michael Yardney and Tom Corley discuss the 5 year rich habits study and learn how the rich turn their goals into success habits.

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Rich Habits Poor Habits – The Power of Association

Michael Yardney and Tom Corley discuss a 5 year study which looks at one of the secrets of the rich – the power of association.

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Rich Habits Poor Habits – Super Parents Raise Kids Who Become the 1%

Michael Yardney and Tom Corley discuss where the rich learned their rich habits – and it’s not what you think.

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Rich Habits Poor Habits – Do the Rich Work More or Less Than the Poor?

Michael Yardney and Tom Corley discuss why the more you work the richer you become – believe it or not.

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Rich Habits Poor Habits Episode 61 – Are You and Anchor?

When I embarked on my Rich Habits Study I was not content with identifying the Rich Habits of wealthy people. Success habits only get you half way down the field. In order to get down the rest of the field and score, you also need to know what not to do. That is why I also studied the Poor Habits of those struggling with poverty.
Poor Habits anchor you in poverty and affect everyone around you. What are some of the anchors dragging you and everyone around you down?

* Negative Beliefs — Negative beliefs are like apps you download onto your cell phone. They program your thinking and direct your behavior in a very bad way. Worse, they infect those within your social circle. People catch on, the word gets around, and eventually you will find yourself alone and ignored. What are some of the negative beliefs that are acting like an anchor around your neck and dragging you and others down? * I’m not smart * Poor people can’t become rich * Everyone in my family is overweight * I’m not lucky * I’m not a people person * I’m disorganized * I fail at everything

* Negative Talk – We are constantly talking to ourselves and others. When the words we use internally (self-talk) are negative, it’s like adding computer code to our negative programming. When the words we use externally (talking to others) are negative, it turns people off. Negative people suck the energy out of everyone they come into contact with. Negative people are simply exhausting to be around. People catch on, the word gets around, and eventually you will find yourself alone and ignored.

* Gossip — Most gossip is negative. When we engage in gossip it telegraphs to others that we cannot be trusted and, thus, should be avoided at all costs. People catch on, the word gets around, and eventually you will find yourself alone and ignored.

* Complaining — Everyone has problems. We are all trying to solve our own problems. When you complain to others about your problems it turns people off because they are overwhelmed trying to deal with their own problems. They don’t need or want to hear about your problems. They don’t have the energy to deal with their problems and your problems at the same time. People catch on, the word gets around, and eventually you will find yourself alone and ignored.

* Financial Mess — There are a lot of reasons why people struggle financially. They spend more than they make, they take on too much debt, they struggle holding onto a job, they mismanage their business, they gamble too much, they drink too much, they have a poor work ethic or they are not self-reliant and depend on the generosity of others to constantly bail them out financially. Those who are unable to manage their finances drag themselves down and everyone around them. People catch on, the word gets around, and eventually you will find yourself alone and ignored.

* Blame Thrower — Blame Throwers do not take responsibility for their life. They blame everyone and everything for their lot in life. Blame Throwers are by nature selfish individuals who have no control over their lives. People catch on, the word gets around, and eventually you will find yourself alone and ignored.

* Anchored in Ideology — When you are anchored in ideology, you are close-minded and resistant to change. You ignore the ideas, opinions or feedback of others. People catch on, the word gets around, and eventually you will find yourself alone and ignored.

* Needy — Those who are constantly needy are not just anchors around their necks, they are anchors around everyone they come into contact with. People catch on, the word gets around, and eventually you will find yourself alone and ignored.
We are our own worst enemy. Our anchors drag us down and everyone around us. Those anchors act like neon billboard signs that tell others: “I am an anchor who will drag you down”.
Find your anchors and remove them. If you don’t, people will catch on and you will find yourself alone and ignored.

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Rich Habits Poor Habits Episode 60 – The 1% Will Always Control The Wealth

I just finished reading a recent article complaining about the rich.
The author was upset at the fact that 1% controlled 82% of the wealth in the world. In the author’s mind, there was something inherently unfair about this.

The author, like many who are not in the 1%, felt that the wealth the 1% created didn’t necessarily belong to them and offered government solutions to cap or redistribute the wealth of the rich.
It’s true. One percent do control 82% of the wealth. And the top 1% will always control most of the wealth until the other 99% figure out how the 1% go about cultivating wealth.

So, how do the 1% cultivate wealth?

The top 1% cultivate wealth by doing certain things:

* Read to Learn Every Day — 88% of the rich in my Rich Habits Study read 30 minutes or more every day to learn. Reading is work. But it’s work that is necessary if you want to become rich. Rich people read because they know that knowledge can be leveraged to gain wealth. The more you know about your field, career or industry, the more valuable you are to those you service or sell to in your field, career or industry.

* Deliberate Practice — 69% of the rich in my study practiced some specific skill for two or more hours every day. Deliberate practice requires conscious practice as opposed to unconscious practice. Conscious practice is practice in which you study everything you do that goes into the skill you have. It’s about studying the intricate details that enable you to become a virtuoso at what you do.

* Pursue Long-Term Goals or a Dream — 70% of the rich in my study pursued some long-term goal or some dream. This is what really drives the disparity between the 1% and the other 99%. Pursuing big goals or dreams creates the opportunity for good luck to happen. The majority of the 1% are beneficiaries of good luck – but good luck they put themselves in a position to receive.

* Focus on Daily Goals — 62% of the rich in my study focused on their daily goals.

* Save — 94% of the rich in my study saved 20% or more of their income every year.

* Be Frugal With Your Money — 67% of the rich in my study were frugal with their money. They spent their money thoughtfully, not emotionally. They buy the best made quality products at the cheapest prices. This requires study and patience and delayed gratification.

* Forge Rich Relationships — 68% of the rich in my study forged relationships with other upbeat, success-minded people. These are people who can open doors for you. They are individuals who are either trying to become the 1% or are the 1%. These 1% have powerful relationships with other 1% individuals.

* Volunteer — 72% of the rich in my study volunteered 5 hours or more a month. Why volunteer? Most of the boards and committees in local non-profits are run by successful people within the community.

* 5 AM Club — 44% of the rich in my study woke up 3 or more hours before they began their work day to pursue dreams, goals, read, be productive, etc. Waking up early is important. It allows you to get things done first thing in the day that help move you forward in life.

* Become a Decision Maker at Work — 91% of the rich in my study were one of the decision makers where they worked. If you want to control the outcome of your life you need to be a decision-maker.

* Do Work You At Least Like — 86% of the rich in my study liked what they did for a living. When you like what you do, you will devote more time to doing it. More time in honing your skills. More time in reading to learn everything about your vocation. More time in building relationships with other success-minded people within your industry or field. More time devoted to improving yourself makes you more valuable.

Everyone wants to be on top of the mountain but few are willing to make the climb. The 1% control 82% of the wealth because the 1% are willing to climb the mountain.

If you want to be one of the 1%, you need to start climbing. You need to do the things that cultivate wealth.

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Rich Habits Poor Habits Episode 59 – Top 10 Common Habits of High Achievers

High Achievers are people who achieve some level of greatness in life. They might be successful entrepreneurs, professional athletes, Olympians, famous writers/authors, painters, engineers, singers, prominent religious figures, etc.

Essentially, they are individuals who, through their actions, achieve greatness. And these high achievers all share certain common habits. Relying on my vast stores of knowledge and research data in studying successful people, I will do my best to identify the top 10 common habits in their order of importance:

1. Consistency — High Achievers go at it every day even when they are down, lack motivation, are sick, financially destitute, when life goes wrong, etc. They have specific habits or routines they perform every day No Matter What.

2. Focus – High Achievers are single-mindedly focused on their goals, dreams and routines. They block out all distractions. They are masters at single-tasking. They never take their eye off the ball.

3. Visionaries – High Achievers have a vision or a blueprint. Most likely, it is in writing and it is very specific. Their vision or blueprint is the GPS or map they use to get them from where they are to where they want to be.

4. Persistent – High Achievers pursue their goals and dreams relentlessly. They overcome adversity. They overcome obstacles. They pivot or find ways to navigate around impasses. They never quit.

5. Obsessed – High Achievers are fanatics. They are obsessed about their goals, dreams and routines. They think about them 24/7. They even dream about them.

6. Processed-Oriented – High Achievers create processes through experimentation that work and that they follow.

7. Action-Oriented – High Achievers are in constant motion. They pursue activities that help them to continuously move forward in achieving their goals and dreams.

8. Calculated Risk Takers – High Achievers are calculated risk takers. They overcome their fear of failure, fear of making mistakes and fear of consequences by doing their homework, understanding the risks involved and taking that calculated risk.

9. Deliberate Practice – High Achievers engage in daily Deliberate Practice in order to maintain and improve their skills.

10. Self-Educators – High Achievers pursue knowledge every day. They become experts in their field by increasing their knowledge through self-education.

Based on my fifteen years of studying high achievers, this is what it takes to become a High Achiever. There are many moving parts, many variables, many ingredients to becoming a High Achiever. It’s not any one thing that makes them great. It’s a combination of many things.

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Rich Habits Poor Habits Episode 58 – 15 Habits of Self-Made Millionaires

Success doesn’t crop up overnight – all self-made millionaires had to start somewhere.

Here are some “rich habits” of self-made millionaires that you can start developing today:

1. They help others succeed

“Helping other success-minded people move forward in achieving their goals and dreams helps you succeed,” Corley writes.

“No one realizes success without a team of other success-minded people.

The best way to create your team is to offer help to other success-minded people first.”

You don’t want to give help to anyone and everyone, Corley notes: “You want to focus on helping only those who are pursuing success, are optimistic, goal-oriented, positive, and uplifting.”

2. They dedicate 15 to 30 minutes a day to just thinking

“Thinking is key to their success,” Corley observes.

The rich tend to think in isolation, in the mornings, and for at least 15 minutes every day.

“They spent time every day brainstorming with themselves about numerous things,” he explains.

The topics include careers, finances, family, health, problems, and business relationships.

They ask questions such as, “What can I do to make more money? Does my job make me happy? Am I exercising enough? What other charities can I get involved in?”

3, They seek feedback

“Fear of criticism is the reason we do not seek feedback from others,” Corley writes.

“But feedback is essential to learning what is working and what isn’t working.

Feedback helps you understand if you are on the right track.

Feedback criticism, good or bad, is a crucial element for learning and growth.”

Additionally, it allows you to change course and experiment with a new career or business.

As Corley says, “Feedback provides you with the information you will need in order to succeed in any venture.”

4. They ask for what they want

There’s a fear around asking for what you want. “It’s the fear of rejection and the fear of obligation that prevent us from asking for what we want,” Corley writes.

“You have to get over those fears and keep asking until someone says yes if you want to be successful in life.”

“Successful people overcome these fears and make a habit of asking everyone they can for help.”

5. They take calculated risks

Corley found self-made millionaires aren’t naturally fearless.

Instead, they “overcome their fear of failure and take calculated risks.”

And they understand risks come at a cost.

In fact, 27% of the study participants experienced failure and had to start over.

“The important point here is that they did start over,” Corley writes.

“The failed, made mistakes, and used the lessons they learned from these failures and mistakes to help them ultimately succeed.”

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