Wealth and Poverty are Caused by Parenting and Habits

There are three types of parents. Rich Parents, Poverty Parents and Middle-Class Parents. Rich Parents teach their kids the Rich Habits and their children grow up to become happy, successful and wealthy. Those who are raised in Rich Parenting households represent about 5% of the population in America. This 5% do not struggle financially, have nice homes, vacation at the nicest places and are generally well educated. Having learned the Rich Habits from their parents, they pass along what they’ve learned to their children and their children grow up to become happy, successful and wealthy. This cycle of wealth perpetuates itself from one generation to the next and it is the reason the rich get richer.

Poor Parents teach their children Poverty Habits and their children grow up to become unhappy, unsuccessful and poor. Those who are raised in Poverty Parenting households represent about 30% of the population in America. This 30% struggle financially, rent small homes, have infrequent, inexpensive vacations and are generally not well educated. Poor Parents pass along Poverty Habits to their children and their children grow up to be unhappy, unsuccessful and poor. This cycle of poverty perpetuates itself from one generation to the next and it is the reason the poor get poorer.

The third type of parents, Middle-Class Parents, teach their children some Rich Habits and some Poverty Habits. Those who are raised in a Middle-Class Parenting household represent about 65% of the population in America. Here is the middle-class breakdown:

  • 20% are upper middle-class
  • 35% are lower middle-class
  • 10% are middle middle-class

Those in the upper middle-class have slightly more Rich Habits than Poverty Habits. They are typically one or two Rich Habits away from becoming rich and are one or two Poverty Habits away from becoming poor. Those in the lower middle-class have more Poverty Habits than Rich Habits. Those in the middle have an even number of Rich Habits and Poverty Habits.

Think of it like a see saw. On one side of the see saw are your Rich Habits and on the other side are your Poverty Habits. Our daily habits determine our success or failure in life. The benefits of having Rich Habits accumulate over time and we are rewarded for these good daily habits in the form of valuable relationships, career success, financial success and good health. The detriments of having Poverty Habits also accumulate over time and we are punished for these bad daily habits in the form of damaged relationships, career failure, financial ruin and poor health.

If you are middle-class and you want to become rich you need to get the see saw tipping in the right direction. To do this you need to add one or two Rich Habits to your see saw. If you are poor and you want to become rich, you need to add two or more Rich Habits to your see saw in order to get it tipping in the right direction.

Our daily habits are the reason why we are rich, poor or middle-class. Daily habits are the cause, financial condition, the effect. The Rich Habits are ten Keystone Habits I uncovered in my research that have the incredible power to overpower your Poverty Habits. This is important because 40% of all of our daily activities are habits. This means that 40% of the time we are all on auto pilot. This is a good thing if most of your habits are Rich Habits but this is a very bad thing if most of your habits are Poverty Habits. For example, adopting the Rich Habit of exercising 30 minutes a day aerobically will eventually cause the elimination of the Poverty Habits of overeating, junk food eating, cigarette smoking, excessive drinking of alcohol and any other Poverty Habit that might be adversely affecting your health.

In my five-year study of the daily habits of the rich and poor I also uncovered many Poverty Habits that are responsible for creating an unhappy, poor and unsuccessful life. Everyone, rich or poor, has Rich Habits and Poverty Habits. The key to happiness and success in life is to make sure that more than 50% of your daily habits are Rich Habits. This tips the scales towards a happy, rich life. When more than 50% of your daily habits are Poverty Habits, life will be an unhappy, financial struggle.

The Ten Keystone Rich Habits That Will Make Your Rich:

  1. Wealthy individuals have eliminated most of their bad daily failure habits and replaced them with good daily success habits
  2. Wealthy individuals set daily, monthly, annual and long-term goals. They understand the difference between a wish and a goal.
  3. Wealthy individuals engage in 30 minutes a day of daily career-related reading.
  4. Wealthy people are healthy people. They exercise aerobically 30 minutes a day, four days a week and stay below their “caloric threshold” (This is the number of calories consumed each day that will neither make you gain weight nor lose weight). For men this ranges from 2,000 calories a day to 2,600 calories a day. For women this ranges from 1,500 calories a day to 2,100 calories a day.
  5. Wealthy individuals manage their relationships every day. Strong relationships are the currency of the wealthy. They employ certain strategies to grow their relationships such as: “The Hello Call”, “The Happy Birthday Call” and “The Life Event Call”. They use a specific strategy to help them increase their Rich Relationships and eliminate their Poverty Relationships.
  6. Wealthy individuals live each day in moderation.They eat in moderation, spend in moderation, work in moderation and play in moderation.
  7. Wealthy individuals complete at least 70% of the tasks on their daily “to do” list.
  8. Wealthy individuals engage in “Rich Thinking”. They are upbeat, positive and focused on achievement.
  9. Wealthy individuals save a minimum of 10-20% of their income and live off of the remaining 80-90%.
  10. Wealthy individuals control their thoughts and emotions, every day.

Poverty Habits That Are Keeping You Poor

  • You watch more than one hour of T.V. a day.
  • You spend more than an hour a day on recreational Internet use (Facebook, Twitter etc.)
  • You eat more than 300 junk food calories a day.
  • You drink more than two glasses of beer, wine or hard alcohol a night.
  • You drink more than 12 ounces of non-diet soda a day.
  • You don’t exercise aerobically a minimum of 30 minutes a day, four days a week.
  • Your relationships are on an “as needed” basis. You only reach out to your friends to socialize or when you have problems and need their help. You don’t call them just to say hello, happy birthday or to congratulate them or console them when something happens in their lives. In other words, you ignore them unless you need them for something.
  • Procrastination is the rule rather than the exception. You don’t maintain a daily “to do” list, or if you do, you don’t accomplish 70% or more of your daily “to do” list each.
  • You devote very little time to your career beyond working. You do not read a minimum of 30 minutes a day of career-related reading material.
  • You do not network or volunteer a minimum of 5 hours a month.
  • You do the bare minimum at work. You have “it’s not in my job description” syndrome.
  • You talk too much and don’t listen enough. You violate the ”5 to 1 Rule” (Listening for 5 minutes for every 1 minute of talking).
  • Oftentimes, you are putting your foot in your mouth and saying inappropriate things.
  • You are not generous with your time or money with respect to your relationships.
  • You are a spender and not a saver. You don’t save 10% of your net income every month. You violate the “90 % Rule” (Pay yourself first 10% of your net pay and live off of the remaining 90% of your net pay).
  • You spend more than you earn and your debt is overwhelming you.
  • You don’t control your thoughts and emotions on a daily basis. You lose your temper too often and belittle others too much.
  • You think a wish is a goal. Goals require a specific physical activity, otherwise they are just wishes and wishes don’t come true.

Experts continue to debate how to change a habit, how long it takes and even if it’s possible to get rid of habits.  I’m here to tell you to forget about trying to get rid of your Poverty Habits by force of will. It doesn’t work. Habits stay with you almost forever. This is because once a habit is formed, your brain creates a neural pathway. It may take years for that neural pathway to atrophy from non-use. No one, today, really knows for sure how long it takes for that to happen. What you can do is diminish the effects of a Poverty Habit by adding a Rich Habit. How?

The Rich Habits were intentionally designed to be Keystone Habits in order to maximize their effectiveness. Keystone Habits are unique in the habit world. They are like habits on steroids. They overpower other ordinary habits. Adopting just one Rich Habit will overpower 2 or more Poverty Habits.  All you need to do is add one or more Rich Habits and your Poverty Habits will begin to fade away all by themselves, dominated by the new Rich Habit. This is the power of the Rich Habits. No will power required in eliminating any Poverty Habits. When you add a few Rich Habits to your daily routine they compete with and eventually overpower your Poverty Habits. Your seesaw then begins to tip in the right direction….. towards success!


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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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  1. Thank you for your blog article.Thanks Again. Fantastic.

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