Rich habits, Poor habits Episode 29 | Will Your Child be Rich or Poor? Part 1

In Tom Corley’s five-year Rich Habits study of 233 rich people and 128 poor people he discovered that we adopt the beliefs of our parents, family, mentors, culture, and environment.

He found that children are being taught that the wealthy are corrupt, greedy, have too much wealth and that this wealth needs to be redistributed.

When Tom travels and speaks to  students about exactly what they need to do to become financially successful in life he always begin his presentation –  by asking three questions: 

  1. “How many want to be financially successful in life?”
  2. “How many think they will be financially successful in life?”
    Almost every time he asks the first two questions every hand rises in the air. Then he asks the magic third question:
  3. “How many have taken a course in school on how to be financially successful in life?”
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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.

It’s so secret that children are a sponge for the information they are given – therefore most of what they are taught will naturally stay with them in their adult years.   

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.

Here are some statistics from Tom Corley’s 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. kids money learn teach coin child lesson school piggy bank mum mother parent
  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.children-403582_1280
  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.

YOU MAY ALSO BE INTERESTED IN VIEWING:

RICH HABITS POOR HABITS EPISODE 28 | WHAT IS THE VALUE OF A MENTOR?

RICH HABITS POOR HABITS EPISODE 27 | YOU SIMPLY CANNOT THINK YOUR WAY TO SUCCESS

RICH HABITS POOR HABITS EPISODE 26 | MYTHS ABOUT THE WEALTHY PART 2

RICH HABITS POOR HABITS EPISODE 25 | MYTHS ABOUT THE WEALTHY PART 

 

 

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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.
 
Phone Number: 732-382-3800 Ext. 103.
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