Rich Kids Have More Money …. and Get Better Grades – RHI Study

Based on a recent Rich Habits Institute study, 62% of children raised in a wealthy household were above average students. Compare this to poorer households, where only 26% had above average students. It gets even worse. Sadly, 74% of children raised in a poor household had grades below a B and 34% had grades below a C.

Why? Wealthy, successful parents teach their children certain success habits that give their children an edge in life. These Rich Habits, which give them this edge in life, begins to manifest itself in the classroom and continues into the workplace, where such children become working adults who receive higher pay, bigger raises and larger bonuses during their working career. As a consequence, they accumulate more wealth in life. Children of wealthy, successful parents pass along these Rich Habits to their own children. And so, the rich get richer.

Poor children never get the education in these Rich Habits at home and, in fact, learn specific habits that hold them back in life. The Poverty Habits they learn from their parents puts them behind the eight ball and this begins to manifest itself in the classroom and then continues into the workplace, where such children become working adults who receive lower pay, smaller wage increases and few, if any, bonuses. They eke out a living, living paycheck to paycheck, and accumulate more debt than wealth during their lives. Children born into poor households pass along to their own children these Poverty Habits. And so, the poor get poorer.

Politicians, pandering for votes from the poor and middle class, rail against the wealthy and this growing wealth gap without actually understanding the root cause. Instead of focusing their blame on poor parents for teaching Poverty Habits to their children, they shift the focus to income redistribution or increased spending as a solution. Because they are not offering the correct solution, despite all their legislative efforts, the wealth gap continues to grow and the poverty rate never goes down.

What is the solution to the wealth gap and income inequality?

Children living in poor or middle class households must learn the Rich Habits. These Rich Habits will help them get ahead in life. They must also learn about Poverty Habits. Poverty Habits hold them back in life, keeping them poor. Ideally this education should be the responsibility of parents, but in the absence of home mentoring, the education system must step in. Learning what to do and what not to do is the solution to income inequality and the wealth gap. Think of life as a seesaw. On one side of the seesaw are Rich Habits and on the other side are Poverty Habits. If you have more Rich Habits than Poverty Habits your seesaw tips in the direction of wealth. Conversely, more Poverty Habits tip the seesaw in the direction of poverty.

So what should poor parents be teaching their kids?

  • Reading for self-improvement 30 minutes each day
  • Exercising aerobically 30 minutes each day
  • Saving 20% or more of all monetary gifts or income received
  • Limiting junk food calories to 300 per day. Eating junk food is a poverty habit
  • Goal education – Setting and pursuing goals and understanding that a wish is not a goal. A goal is only a goal when it has 100% achievability and some physical action
  • Limiting T.V. and Internet use to 1 hour per day. T.V. and recreational Internet use are Poverty Habits
  • Volunteering 10 hours or more a month
  • Working 10 hours or more a month
  • Never gossip. Gossiping is a Poverty Habit
  • Calling people on their birthday
  • Calling people for life events(births, weddings, death in family etc.)
  • Never losing your temper. Anger is a Poverty Habit
  • Sending thank you cards
  • Not allowing every thought that enters your head to come out of your mouth. Saying what’s on your mind all the time is a Poverty Habit.
  • Thinking positive thoughts and avoiding all negative thoughts
  • Believing that you can be whatever you want to be and have whatever you want to have in life
  • Being grateful. Never envy. Envy is a Poverty Habit. We need to teach children to give thanks to at least one thing in their lives every day

In the study 93% of the wealthy who had mentors in life attributed the accumulation of their wealth to one or more mentors. Parents are the best shot any of us have at having a mentor in life. If we want our children to grow up to become successful in life, it starts with parents teaching the Rich Habits. Where parents fail to teach these Rich Habits, schools must step in as surrogate mentors. Success is a process. Failure is a process. Which process our children follow is the responsibility of parents or our education system and will dictate the direction in which their seesaw of life will tip.

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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. Hannah Daido says:

    Mr. Corley,

    Thank you for your 20 Habits of the Rich. Would you be able to tell me where the research was done and where the statistics are from?

    Thank you very much,

    • Hi Hannah. Most of the research was conducted in New Jersey, although many of those in the study were from all over the country (FL, PA, NH, NY, CT, RI, MASS). I spent 4 years gathering the data using a broad 20 question list that was intended to track activities from the beginning of the day to the end of the day. Then I spent a year analyzing the data. I continuously re-visit the data and analyze it. So far, I have tracked 208 activities that separate the wealthy from the poor.

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