How Long Does It Take Before the Rich Habits Begin to Payoff?

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One of the questions I get asked a lot from the media is this:

How long does it take before the Rich Habits begin to produce results?

According to my research, some Rich Habits start to pay dividends immediately and others take many years.

If the Rich Habit you adopted is Dream-Setting (defining your dreams and then building goals around those dreams), it will take you about twelve years.

The self-made millionaires in my study with this Rich Habit became wealthy ($160,000 or more in annual income plus $3.2 million in investments) after twelve years.

If the Rich Habit you adopted was living below your means, saving at least 10% and then prudently investing those savings, this will take you the longest – on average thirty-two years.

The self-made millionaires in my study with this Rich Habit became wealthy after thirty-two years.

If the Rich Habit is daily growth so that you can become an expert in your industry, this will take you about seven years.

It took the self-made millionaires in my study who became experts within their industry, about seven years to get there. They did this primarily by reading or relentless practice.

If the Rich Habit you adopted is to become healthy by exercising aerobically 20 minutes or more every and and eating healthy food, you will see immediate benefits after about one month. It will take you another twelve months to lose most of your fat. Lastly, it will take you twenty-four months from the date you adopt this Rich Habit to be in the best physical health of your life.

Habit change is not an immediate gratification thing. It takes time for good habits to begin to pay dividends. It all depends on the Rich Habit you adopt. Rich Habits intended to make you wealthy, take the most time. Rich Habits intended to transform you into an expert in your industry also takes a long time. Rich Habits intended to make you healthy, take the least amount of time.

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Thomas C. Corley About Thomas C. Corley

Tom Corley understands the difference between being rich and poor: at age nine, his family went from being multi-millionaires to broke in just one night, due to a catastrophic fire that destroyed his Dad's thriving business. For fourteen years they struggled with poverty. There were eleven in Tom's family, and they lived in constant fear of losing their home.

Driven by the desire to unlock the secrets to success and failure, Tom spent five years studying the daily activities of 233 rich people and 128 poor people. He discovered there was an immense difference between the habits of the rich and the poor. During his research he identified over 300 daily activities that separated the “haves” from the “have nots.” Tom decided to write a book to share what he learned. That book, Rich Habits: The Daily Success Habits of Wealthy Individuals (1st Edition), went on to become an Amazon Bestseller in the United States forty times over a three year period. To give you some perspective, in order to be a true Amazon Bestseller in the United States, where you actually receive a specific Bestseller designation from Amazon, you need to be in the top 100 of all books sold by Amazon in the United States in a given day. Rich Habits did that for nearly thirty straight days, rising as high as #7, eclipsing such Bestselling authors such as Stephen Covey, Robert Kiyosaki and J.K. Rowlings. Imagine that - an unknown, first-time, self-published author selling more books than J.K. Rowlings!

Tom now travels the world, sharing his Rich Habits and motivating audiences at industry conferences, corporate events, universities, multi-level marketing group events, and global sales organizations’ presentations and finance conferences. He has even spoken on the same stage with famous entrepreneurs and personal development experts, such as Sir Richard Branson, Robin Sharma, Dr. Daniel Amen, and many others.

Tom has shared his insights on various national and international network, cable, and Internet television programs such as CBS Evening News, NBC News, Yahoo Financially Fit, Money.com, India TV, News.com Australia, and a host of others. He has been interviewed on many prestigious nationally syndicated radio shows, including the Dave Ramsey Show, Marketplace Money, and WABC.

Tom has been featured in numerous print magazines—such as Money magazine, Inc. Magazine, SUCCESS Magazine, Entrepreneur magazine, Fast Company magazine, More magazine, Epoca Magazine (Brazil’s largest weekly) and Kiplinger’s Personal Finance magazine—and various online publications, including USA Today, CNN, MSN Money, SUCCESS.com, Inc.com, and the Huffington Post. Tom is a frequent contributor to Business Insider, Credit.com, Bankrate.com and a few other media outlets.

National publicity has garnered international media attention for Tom and his Rich Habits research spanning 23 countries. Broadcast media, online publications, and television throughout Asia, the South Pacific, Europe, the United Kingdom, and Central and South America have shared his powerful message.

In an effort to help parents, grandparents, teachers and adults become success mentors to the younger generation, Tom released his second book, Rich Kids: How to Raise Our Children to be Happy and Successful in Life in 2014. This book was the self-help category winner of the 2015 New York Book Festival and Runner-up in the prestigious 2015 Writer’s Digest Self-Published Book Awards Contest. In 2016 Tom released his third book, Change Your Habits, Change Your Life. This book provides the latest science on habit change as well as more of Tom's unique research on the specific habits that helped transform 177 ordinary individuals into self-made millionaires.

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.
 
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Comments

  1. Thanks for this. This is a question that I have often wondered. While I know building wealth can take time, it can be discouraging when you don’t see the results right away. Even 7 years may feel like forever in a society addicted to instant gratification, never mind 32 years.

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