It’s Good to be Rich – Advantages of Being Rich

Tom Corley boats - crop

The pursuit of wealth is a noble goal. It does not make you evil, greedy or selfish. When you are rich you put yourself in a position of being able to do good by helping others in need.

In my twelve years of studying the rich I’ve identified some advantages that make it good to be rich:

  • The rich can afford to buy in bulk at places like Sam’s Club, Costco, BJ’s and other Warehouse Clubs which offer discounts for those who can afford to buy in bulk.
  • The rich can afford to take advantage of one day sales, special sales events, liquidation discounts, etc. They have the money to take advantage of these discounts.
  • The rich can afford the finest schools for their children, where their children can build relationships and networks with other wealthy students. The wealthy families of these students can open doors for your child that are closed to everyone else.
  • The rich can afford to go on vacations with their family to exotic places. Their children benefit by broadening their understanding of the world, its diverse cultures and gaining a better understanding of geography.
  • Because birds of a feather flock together, the rich surround themselves with other rich people. One of the benefits this affords is the ability to enjoy the toys of the rich: boats, planes, yachts, country clubs, golf clubs, vacation homes, etc.
  • Having rich friends means having access to unique opportunities to make more money such as being able to participate in little-known investment opportunities available only to the affluent.
  • The rich can afford the best CPAs, best financial advisors, best attorneys, best doctors, etc.
  • The rich can afford to invest in sustainable energy solutions which require a significant upfront investment but which significantly lower future energy costs. Examples include solar panels on their property, geothermic heating, Tesla’s Powerwall home battery, etc.
  • The rich can afford to purchase vacation homes. This enables them to spend more quality time with their immediate family and their friends. Having a vacation home by the beach, lake or ski lodge is like being able to go on a vacation every week,
  • The rich are able to remain healthier, longer. They have access to the best medical care, medical procedures to resolve obesity, personal trainers to help them stay fit and they can afford to buy expensive nutritional food.
  • The rich have more fun because they can afford to spend money on expensive entertainment such as concerts, sporting events (i.e. season tickets), Broadway plays, skiing, beachfront resorts, etc.

If you’re not rich, you can nonetheless find ways in which you can experience some of the things only rich people can afford:

  • Join Clubs – Clubs can use their purchasing power to obtain discounts on things only the rich can do, such as frequent skiing, flying airplanes, boating, fishing excursions, gold outings, international travel, etc. Club members can also pool their limited resources in order to take advantage of Warehouse Club bulk sale discounts.
  • Use Exercise/Athletic Facilities for Free – You don’t need to spend a lot of money on a gym in order to get fit. You can use a local public high school or park’s facilities and jog around their track, run up and down their bleachers, play on their tennis courts, etc.
  • Goodwill Stores – You can find expensive brand clothing at goodwill stores. The clothing may require some tailoring but that’s a small price to pay for high quality clothing.
  • Fractional Ownership – Instead of owning something outright, fractional living allows you to own it with others. A timeshare is probably the most well-known type of fractional ownership but this trend has been expanding rapidly to expensive cars, planes, boats, vacation homes and even high end clothing.


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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,, India TV, 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,,, and the Huffington Post. Tom is a frequent contributor to Business Insider,, 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.
Phone Number: 732-382-3800 Ext. 103.
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  1. Rachel Fagon says:

    Excellent article and great advice. I think its time I buy your book. Thanks for posting Tom!!!

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