Rich Habits Poor Habits Episode 48 | Being rich is really about two things Part 2

In Rich Habits Study, Tom Corley interviewed 233 wealthy individuals (177 of whom were self- made millionaires) with at least $160,000 in annual gross income and $3.2 million in net assets.

He found that becoming and staying rich tends to come from two actions:

1. Accumulating wealth farm seed soil grow wealth

2. Keeping the wealth you’ve accumulated

But accumulating wealth is only one part of the equation.

In his book “Rich Habits Poor Habits,” he shares another equally important part of being rich: holding on to the wealth you’ve accumulated.

Staying rich requires that you forge certain specific habits that ensure the wealth you’ve accumulated does not disappear.

Here are a few of the most important Rich Habits that will help you keep your wealth:

Putting your wealth to work. 

Putting your wealth to work means investing it wisely in stocks, bonds, real estate and other business opportunities.

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These investments create additional streams of income that pay dividends down the road.

Setting aside part of your wealth for retirement.

Save 10-20% of the income you make and put that money into long-term retirement assets that you don’t touch until you retire.

Watching what you spend.

Do you know where your money goes?

You should.

Tracking what you spend opens your eyes so you may know exactly where your money goes.

Tracking your spending allows you to make adjustments to how you spend your money.

If you don’t track your spending it can get out of control.

This “lifestyle creep” can cause your wealth to disappear over time.

Avoiding spontaneous or emotional purchases.

Never buy anything on impulse.

It is almost always the wrong thing to do.

That spontaneous or emotional purchase will lose its luster after only a few weeks.

Then you’re stuck with something you don’t need and that does not generate any income.

Living below your means.

Living below your means keeps you from falling into the trap of lifestyle creep. calculator coin money save debt

No matter what good fortune visits you in life, do not change your standard of living.

Don’t supersize your life by buying things you really do not need.

Live a modest, simple life.

Never forget wealth is a two-step process.

The game doesn’t begin and end with getting rich.

You must forge Rich Habits that guarantee the wealth you accumulate sticks around for a long time.

You may also be interested in reading:

RICH HABITS POOR HABIT EPISODE 47 | BEING RICH IS REALLY ABOUT TWO THINGS PART 1

RICH HABITS POOR HABIT EPISODE 46 | 4 HABITS THAT WILL KEEP YOU FROM GETTING RICH

RICH HABITS POOR HABIT EPISODE 45 | WILL YOUR CHILD BE RICH OR POOR? 15 POVERTY HABITS PARENTS TEACH THEIR CHILDREN

RICH HABITS POOR HABIT EPISODE 44 | BEING SELFISH GETS A BAD RAP

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Rich Habits Poor Habits Episode 47 | Being rich is really about two things Part 1

In Rich Habits Study, Tom Corley interviewed 233 wealthy individuals (177 of whom were self- made millionaires) with at least $160,000 in annual gross income and $3.2 million in net assets.

He found that becoming and staying rich tends to come from two actions:

1. Accumulating wealth  australian coins

2. Keeping the wealth you’ve accumulated

The first step, getting rich, requires that you forge certain specific habits that make getting rich possible.

In his book “Change Your Habits Change Your Life,” he shares some of the stories about how these self-made millionaires accumulated their wealth, but some of the most important Rich Habits for accumulating wealth.

This includes:

Pursuing daily growth

Daily self-improvement is a hallmark of self-made millionaires.  

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They read at least 30 minutes a day to gain knowledge.

They also devote significant time every day to practicing and perfecting their skills.

Dream-setting.

The rich build goals around each of their dreams.

This makes it possible to realize those dreams.

Think of every dream as a rung on your own ladder.

Your ideal, perfect life is realized when you reach the top of the ladder.

Eighty percent of the self-made millionaires in my study built goals around their dreams.

Saving.

Ninety-four percent of the rich saved 20% or more of their income for many years prior to becoming rich.

They then put their savings to use by taking calculated risks.

Taking calculated risks.

Fifty-one percent of the self-made millionaires in my study took a calculated risk in time and money.

Calculated risk is a unique type of risk that requires you to do your homework.

Being optimistic.

Seventy-one percent of the self-made millionaires in my study were optimistic about life.

Their optimism infected everyone around them.

They became magnets for other success-minded people. business data success

Being open-minded. 

Being open to new ideas, new ways of doing things and the opinions of others is critical to learning and growth.

Growth is the parent of success.

You must grow into the person you need to be in order for success to visit you.

Finishing what you start.

The rich don’t quit.

They stick to something until they succeed, go bankrupt, or die.

Eighty-percent were focused on achieving some goal and 55% spent one year or more on one singular goal.

But accumulating wealth is only one part of the equation.

In my book “Rich Habits Poor Habits,” I share another equally important part of being rich: holding on to the wealth you’ve accumulated.

You may also be interested in reading:

RICH HABITS POOR HABIT EPISODE 46 | 4 HABITS THAT WILL KEEP YOU FROM GETTING RICH

RICH HABITS POOR HABIT EPISODE 45 | WILL YOUR CHILD BE RICH OR POOR? 15 POVERTY HABITS PARENTS TEACH THEIR CHILDREN

RICH HABITS POOR HABIT EPISODE 44 | BEING SELFISH GETS A BAD RAP

RICH HABITS POOR HABIT EPISODE 43 | NEVER CLIMB A “MOUNTAIN” WITHOUT A GUIDE

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Rich Habits Poor Habits Episode 46 | 4 habits that will keep you from getting rich

Your money habits can make you rich or put you in the poor house.

According to a recent study by Brown University, in which nearly 50,000 families were surveyed, most of the habits we pick up in life come from our parents.

This includes money habits.

If your parents had bad money habits, it is likely those habits rubbed off on you.

But in order to change bad money habits you need to first become aware of them.

Below are some destructive money habits that Tom Corley uncovered in his five-year study on the daily habits of the rich and poor that will put you in the poor house unless you eliminate them.

Gambling habits

Gambling is not a sound plan to lift you out of poverty. lottery ticket win luck gamble odds

Gambling relies on random luck.

The odds of winning Powerball are 1 in 175 million.

That’s basically zero.

Seventy-seven percent of the poor — defined as having an annual income of $35,000 or less and a liquid net worth of $5,000 or less — admitted to playing the lottery regularly, versus 6% of the rich, defined as having an annual income of $160,000 or more and a liquid net worth of $3.2 million or more.

But it’s not just the lottery they gamble their money on: 52% of the poor admit that they gamble on sports at least once a week versus 16% of the wealthy.

Time-wasting habits

Time is money.

The rich understand this.

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Sixty-five percent of the rich created at least three streams of income during their lives.

Conversely, the poor all relied on one stream of income.

They didn’t invest their time wisely in building their careers or building a side business.

In my study, I uncovered many time-wasters the poor engaged in that ultimately cost them money: Seventy-seven percent of the poor admitted to watching more than one hour of TV each day.

Their preference?

Reality TV wins hands-down. Seventy-eight percent of the poor watch reality TV shows.

The rich, on the other hand, are not big on TV.

Sixty-seven percent watch less than an hour each day, and it’s not reality TV that they tune into.

Only 6% watch reality TV.

Another time waster is the internet.

Seventy-four percent of the poor in my study spent more than an hour each day on the internet.

These days that means Facebook, Twitter, Instagram, Snapchat, or YouTube. facebook checking

Conversely, 63% of the rich spent less than an hour each day on the internet.

This freed up more time to read for self-education. While many of the poor in my study said they read regularly, 79% admitted that they read strictly for entertainment.

Only 11% of the rich said that they read for entertainment.

Instead, they focused their reading on self-education: biographies of successful individuals, career-related reading, self-help, history, and money matters.

When you’re wasting your time watching TV, on social media, or reading for entertainment, it leaves little time to do productive things like reading to learn, building relationships with other success-minded individuals, via networking or volunteering, or building a side business.

Time does not discriminate.

Everyone gets 24 hours, rich or poor.

The rich simply choose to spend their time differently, doing things that are productive.

Bad spending habits

The rich in my study made a habit of tracking their spending in the early days of building their wealth.

It’s easy to lose sight of where your money is going. money savings

If you don’t have a lot of money you need to get into the habit of tracking every penny.

The poor in my study didn’t.

I uncovered certain poor spending habits that held the poor back in life: Ninety-three percent admitted that they did not budget their spending.

Sixty-six percent admitted that they were not frugal with their money.

They had a bad habit of making spontaneous purchases with their money.

Oftentimes, this required them to use credit cards.

Eighty-eight percent of the poor in my study had over $5,000 in revolving credit-card debt. household debt

Sixty-nine percent used those credit cards to purchase big-ticket items.

And 77% had multiple credit cards.

Conversely, 92% of the rich relied on only one credit card.

Sixty-eight percent of the poor said they don’t use coupons.

Sixty-one percent of the poor did not own their homes — they rented them — while 100% of the rich owned their homes.

When you don’t own you home, you are unable to build home equity, which comes in handy when you retire or to help your kids with college costs.

Poor savings habits

Only 5% of the poor in my study saved 10% of their income.

None saved 20% of their income.

Conversely, 94% of the rich in my study saved 20% or more of their income.

Many of the millionaires in my study started out poor and did not have large incomes during their lives, so this was a habit they adopted while they were still poor.

Fifty-one percent were small-business owners who watched what they spent in order to enable them to save money. money bill finance debt

They then invested their savings, as well as the investment income generated by their savings.

After many years, their savings and investments compounded, eventually turning them into self-made millionaires.

Building wealth takes time.

It doesn’t happen overnight.

It took the average millionaire in my study 32 years to become rich.

The younger you are, the more time you have to build wealth.

But that’s only possible if you eliminate destructive money habits and adopt sound ones instead.

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Rich Habits Poor Habit Episode 45 | Will Your Child be Rich or Poor? 15 Poverty Habits Parents Teach Their Children

When Tom Corley  travels the country speaking to high school and college students about exactly what they need to do to become financially successful in life he always begins his presentation by asking three questions… lose saving

“How many want to be financially successful in life?”

“How many think they will be financially successful in life?”

Almost every time I ask the first two questions every hand rises in the air.

Then he asks the magic third question:

“How many have taken a course in school on how to be financially successful in life?”

Not one hand rises in the air, ever.

Clearly every student wants to be successful and thinks they will be successful but none have been taught by their parents or their school system how to be financially successful in life.

Not only are there no courses on basic financial success principles but there are no structured courses teaching basic financial literacy.

We are raising our children to be financially illiterate and to fail in life.

Is it any wonder that most Americans live paycheck to paycheck? kids money learn teach coin child lesson school piggy bank mum mother parent

That most Americans accumulate more debt than assets?

That many Americans lose their homes when they lose their job?

Is it any wonder that most Americans cannot afford college for their children and that student loan debt is now the largest type of consumer debt?

What’s worse is what our children are being taught by their parents, the school system, politicians and the national media.

They are teaching our children that the wealthy are corrupt, greedy, have too much wealth and that this wealth needs to be redistributed.

What kind of a message do you think that sends to America’s future generation?

It is teaching them that seeking financial success is a bad and evil thing.

Here are some statistics from his five-year study on the daily habits that separate the wealthy from the poor?

  1. 72% of the wealthy know their credit score vs. 5% of the poor.
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  2. 6% of the wealthy play the lottery vs. 77% of the poor.
  3. 80% of the wealthy are focused on at least one goal vs. 12% of the poor.
  4. 62% of the wealthy floss their teeth every day vs. 16% of the poor.
  5. 21% of the wealthy are overweight by 30 pounds or more vs. 66% of the poor.
  6. 63% of the wealthy spend less than 1 hour per day on recreational Internet use. 74% of the poor spend more than an hour a day in the Internet.
  7. 83% of the wealthy attend back to school night for their kids vs. 13% of the poor.
  8. 29% of the wealthy had one or more children who made the honor roll vs. 4% of the poor.
  9. 63% of wealthy listen to audio books during their commute vs. 5% of the poor.
  10. 67% of the wealthy watch less than 1 hour of TV per day vs 23% of the poor.
  11. 9% of the wealthy watch reality TV shows vs. 78% of the poor.
  12. 73% of the wealthy were taught the 80/20 rule vs. 5% of the poor (live off 80% save 20%).
  13. 79% of the wealthy network 5 hours or more per month vs. 16% of the poor.
  14. 8% of the wealthy believe wealth comes from random good luck vs. 79% of the poor.
  15. 79% of the wealthy believe they are responsible for their financial circumstances. 82% of the poor believe they are victims and not responsible for their poverty.

The fact is the poor are poor because they have too many Poverty Habits and too few Rich Habits.

The best parents teach their children good habits that lead to success and the worst parents teach their kids bad habits that lead to poverty.

We don’t have a wealth gap in this country we have a parent gap.

We don’t have income inequality, we have parent inequality.

Parents and our schools need to work together to instill good daily success habits.

They need to be teaching children specific Rich Habits that lead to success.

Here are some examples:

  • Limit TV, social media, video games and cell phone use to no more than one hour a day.
  • Require that children read one non-fiction book a week and write a one page summary of what they learned for their parents to review. children-403582_1280
  • Require children to aerobically exercise 20 – 30 minutes a day.
  • Limit junk food to no more than 300 calories a day.
  • Teach children to dream and to pursue their dreams. Have them write a script of their ideal, future life.
  • Require that children set monthly, annual and long-term goals.
  • Require working age children to work or volunteer at least ten hours a week.
  • Require that children save at least 25% of their earnings or the monetary gifts they receive.
  • Teach children the importance of calling family, friends, teachers, coaches, etc, on their birthday
  • Teach children the importance of calling family, friends, teachers, coaches, etc. when anything good or bad happens in their lives. Examples include births, deaths, awards, illnesses, etc.
  • Teach children to send thank you cards to individuals who helped them in any way. child children money learn teach rich poor lesson family budget
  • Reassure children that mistakes are good and not bad. Children need to understand that the very foundation of success is built upon the lessons we learn from our mistakes.
  • Discipline children when they lose their temper so they understand the consequence of not controlling this very costly emotion. Anger is the most costly emotion. It gets people fired, divorced and destroys relationships.
  • Teach children that the pursuit of financial success is a good thing.
  • Children need to learn how to manage money. Open up a checking account or savings account for children and force them to use their savings to buy the things they want. This teaches children that they are not entitled to anything. It teaches them that they have to work for the things they want in life, like cell phones, computers, fashionable clothes, video games, etc. family game parent kid child
  • Require children to participate in at least one non-sports-related extracurricular group at school or outside of school.
  • Parents and children need to set aside at least an hour a day to talk to one another. Not on Facebook, not on the cell phone, but face to face. The only quality time is quantity time.
  • Teach children how to manage their time. Teach them how to create a daily “to do” list. They can put their “to-do” list on their bedroom door so parents can check it each day.

Obviously, it is not possible to follow every Rich Habit recommendation I listed above.

From my research, I learned that all it takes is one or two Rich Habits to completely transform a life.

The reading habit, on its own, can set your children up for career success.

The savings habit, on its own, can set your children up to be financially independent. The exercise habit, on its own, can set your children up for a long, healthy life.

The happy birthday or life event calls, on their own, can set your children up to forge strong relationships. Pick just two habits to teach you kids and stay on top of them for six months. After six months the habits should stick.

YOU MAY ALSO BE INTERESTED IN VIEWING:

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RICH HABITS POOR HABIT EPISODE 43 | NEVER CLIMB A “MOUNTAIN” WITHOUT A GUIDE

RICH HABITS POOR HABIT EPISODE 42 | ADMIRE OTHER RICH AND FINANCIALLY FREE PEOPLE

RICH HABITS POOR HABITS EPISODE 41 | DON’T WORRY – EVERYONE IS HARDWIRED TO BE MISERABLE

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Rich Habits Poor Habits Episode 44 | Being Selfish Gets a Bad Rap

What if I told you that being selfish is a success trait?

It might piss you off to hear a comment like that, right?

But what if I reworded it and said something like this: The path towards success requires the pursuit of dreams and goals that add value to the lives of other. 

Now that doesn’t sound so bad, does it?

It almost sounds selfless, instead of selfish, doesn’t it?

Tom Corley’s research on the habits and traits of successful people is pretty clear.

You need to be selfish in the pursuit of your dreams and goals.

Pursuing your dreams and goals is a selfish act.

It puts you first and others second because pursuing your dreams and goals comes at a cost – time spent with family and friends takes a back seat.

But here’s the rub.

Your dreams and goals must in some way benefit others, otherwise you will fail in realizing them. 20523264 L

No one will care about your dreams and goals if they benefit only you.

But if your dreams and goals add value to the lives of others, they will happily reach into their pocketbook or wallet, whip out their ATM card and reward you for improving their lives.

You see, selfishness is hard-wired into every human being.

It’s a biological imperative to be selfish.

Survival demands selfishness.

Everyone you come into contact with is focused on one thing – themselves.

The trick is to pursue dreams and goals that appeal to the selfishness genes that drive our very existence.

Pursuing your dreams and goals is a selfish act by its very nature.

But when those dreams and goals help improve the lives of others, your selfishness morphs into selflessness.

When you selfishly pursue dreams and goals that benefits humanity in some way, you have found the magic blue pill that not only changes your life for the better but also improves the lives of others.

Being selfish is a good thing but only when that selfishness benefits society.

Something to think about.

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RICH HABITS POOR HABITS EPISODE 40 | HOW MUCH DOES LUCK HAVE TO DO WITH SUCCESS?

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Rich Habits Poor Habits Episode 43 | Never Climb A “Mountain” Without A Guide

Whether it’s climbing Mt. Everest or any other challenging mountain it’s not safe to scale it alone. 

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The potential for danger is high; and like most journeys in life, having someone with you who’s been there before and who has your back — to guide you, encourage you to climb higher, and to warn you of any roadblocks or dangers — is critical to your success.

Guides make all mountaintops attainable.

And the same goes for success and building wealth.

Having guides, coaches, or teachers to help you climb that mountain of financial freedom is one of the most important principles to guarantee your life success.

Learn And Model From Others Who Have Succeeded Before You

What does “model” mean?

It means to emulate or follow someone else’s method.

If you were to climb Mt. Everest, would you try finding your own way up the whole mountain on your own?

Or would you maybe get an experienced guide to show you the way and lead you up the mountain?

I think you’d get a guide, yes?

Why?

Because otherwise you’d be dead.

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It’s really simple.

It’s no different when it comes to success in any field of endeavor.

Why on earth would you try to figure everything out on your own when you can learn from others who have succeeded before you?

That is one of the best things about the network marketing industry, for example.

In what other business would other people who sell the same product as you, actually do whatever they can to help you?

It would never happen.

People selling the same stuff as you would usually never help you.

Yet there are tons of people in the network marketing industry earning $20,000, $50,000, $100,000 or more per month.

Why isn’t everybody earning that kind of money in other industries?

It’s simple.

They’re not willing to learn and follow the method to earn that kind of money, to be rich and financially free.

Why?

Because they have to do it their way.

I’m not saying copy every blink the person who teaches you makes.Landscape 2124113 1920

But when climbing Mt. Everest, the difference between stepping directly in your sherpa’s footprint and 12 inches outside of it could be the difference between life and death.

I want to remind you of something I tell all of my students: Your way has gotten you exactly where you are.

I’m not saying that that’s bad, but it may not be all that fantastic either.

If you want something different, you’re going to need a new and different way.

Your way doesn’t work like that.

You have to be willing to follow your teacher’s guidance to the letter and do it exactly the way that they tell you to do so.

You do that for a certain amount of time, then you can do it your way.success

How much time do you try it their way?

It’s simple.

Until you’re rich!

When you’re rich, then do it your own way.

Until then, you do it the way of the person who is successful ahead of you.

Don’t be a smarty pants and say, “I know better. It’s my life, this works better.”

Well… I’ll say it again: Your way has gotten you exactly where you are. Are you happy with that?

Now I want to share with you one more bonus principle that radically changed my life and I believe it will do the same for you.

Rich And Financially Free People Admire Other Rich And Financially Free People Sunrise 840201 1920

I want to share with you a philosophy that changed my life.

It comes from Huna, an ancient Hawaiian philosophy of life: “Bless that which you want.”

If you see a beautiful car, bless that car and the owner of that car…

If you see a beautiful house, bless that house and the person who owns the house…

If you see somebody with a wonderful, amazing business, bless that business and that person…

Why?

Because anything that you negate, you can never have.

It doesn’t mean don’t be uncritical of the principles of the rich and successful folks you admire, but even then, there’s no room for jealousy.

The more you can learn to admire their achievements, the more you will spiritually be open to learning how they did it.

So when you find a teacher, a coach, or a person in a field of area doing really well that you relate to…

  1. Learn and model from them
  2. Admire them
  3. Follow their lead and don’t veer from it until you’ve made it to the top!

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RICH HABITS POOR HABITS EPISODE 40 | HOW MUCH DOES LUCK HAVE TO DO WITH SUCCESS?

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Rich Habits Poor Habits Episode 42 | Admire Other Rich And Financially Free People

I want to share with you a philosophy that changed Tom Corley’s life.

It comes from Huna, an ancient Hawaiian philosophy of life: “Bless that which you want.”

If you see a beautiful car, bless that car and the owner of that car…  

If you see a beautiful house, bless that house and the person who owns the house…

If you see somebody with a wonderful, amazing business, bless that business and that person…

Why?

Because anything that you negate, you can never have. Families by state

It doesn’t mean don’t be uncritical of the principles of the rich and successful folks you admire, but even then, there’s no room for jealousy.

The more you can learn to admire their achievements, the more you will spiritually be open to learning how they did it.

So when you find a teacher, a coach, or a person in a field of area doing really well that you relate to:

  1. Learn and model from them
  2. Admire them
  3. Follow their lead and don’t veer from it until you’ve made it to the top

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RICH HABITS POOR HABITS EPISODE 39 | 19 TRAITS OF NEGATIVE PEOPLE PART 3

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Rich Habits Poor Habits Episode 41 | Don’t Worry – Everyone is Hardwired to be Miserable

The latest research on happiness is a real punch in the gut.

According to David Buss, psychology professor at the University of Texas, we are hardwired for unhappiness.

And we have evolution to blame.

It turns out emotions like unhappiness, jealousy, distress and disgust spurs individuals to improve their conditions in order to return to a state of happiness.

Unhappiness drives us to make necessary changes in our lives.

And what may be even worse, happiness is hardwired to be temporary.  7399571_l-300x200

The purpose of this little evolutionary slap in the face is to prevent humans from becoming too complacent with their happy lives so that they will continue to do things to improve their lives in an effort to chase happiness.

No matter what amazing good things happen in our lives that make us happy, we always revert back to our happiness baseline.

That’s why the happiness that results from some good fortune like winning the lottery or inheriting a million dollars or the happiness that we experience from buying something new, doesn’t last very long.

If it did, humans would fold up their tents and stop trying to improve their lives. 

Being hardwired for unhappiness is why we compete, why we chase dreams, why we go to college, why we start new businesses and why we sacrifice for something better down the road. inspiration success hard wrok

This very unique, hardwired human trait, drives us to do things that will make us happy.

So, if you’re unhappy with your life, there’s a good reason.

Life is screaming at you to grow and improve.

It wants you to become a better human being.

It’s time you listened to that voice

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Rich Habits Poor habits Episode 40 | How much does luck have to do with success?

If you’re going to have any beliefs at all, believe in luck.  

One of the fascinating things Tom Corley discovered in his five-year Rich Habits study was the fact that every self-made millionaires, at some point, got lucky.

  • 84% attributed their good luck to their daily habits
  • 87% said they were lucky
  • 92% said they created their own luck

The rich do not believe random good luck plays a role in wealth creation.

They believe, however, that you create your own luck.

There are many ways the wealthy create their own luck:

  • Pursuing a dream. Luck visits dreamers who act on their dreams.  success
  • Forging habits around your dreams. Good habits are like snowflakes on a mountainside. You don’t notice the accumulation until there is an avalanche. Good habits create an avalanche of good luck.
  • Building relationships with the right people – success-minded people who can open doors for you through their relationships. Good luck likes to associate with positive-minded people.
  • Learning new things opens your eyes to opportunities. Opportunity is the home good luck
  • Taking calculated risks. Calculated risk is a type of risk that requires you to do your homework. Good luck finds the prepared.
  • Finding a mentor. Mentors open up doors for you and steer you down the right paths in life. Good luck will find you if you are on the right path.
  • Being a mentor. Mentees eventually become experts themselves. Like mentors, your mentees can open up doors for you. Good luck is often found behind closed doors.
  • Staying upbeat and positive. Negativity shuts down part of your prefrontal cortex and effectively blinds you to opportunities. Good luck always finds the optimist.
  • Staying focused allows you to accomplish and learn things quitters never accomplish or learn. Good luck always finds the most focused individuals.
  • Persistence. Devoting yourself to one thing for many years forces you to become expert in that one thing. Good luck always finds the persistent.

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The Big 3 Greatness Qualities

From my Rich Habits research I uncovered 3 Greatness Qualities most of the self-made millionaires in my study possessed: Authenticity, Loyalty and Honesty