Study Reveals Importance of Daily Habits and Their Link to Wealth and Poverty

My name is Tom Corley. I spent five years studying the daily habits of over 200 wealthy people and over 100 poor people. I tracked over 200 activities that separate the wealthy from the poor. This separation is as wide as the Grand Canyon. The discovery I made from my study is, quite frankly, revolutionary, at least in terms of wealth accumulation. What is this revolutionary discovery?  Our daily habits determine if we will accumulate wealth and be happy in life or if we will eke out a living and be unhappy in life. Just as important, I discovered that these daily habits get passed along to our children and determine if our children will accumulate wealth and be happy in life or if they will eke out a living and be unhappy in life.

Let’s focus on why daily habits are so important. 40% of all of our daily activities are habits. This means 40% of the time we are all on auto pilot, every day. If we have more good habits (Rich Habits) than bad habits (Poverty Habits) life will be good and we will be happy. If we have more Poverty Habits than Rich Habits than life will be a struggle and we will be unhappy. It’s like a seesaw. For most, their seesaw has more Poverty Habits than Rich Habits. It’s tipping in the wrong direction. Adding just a few Rich Habits can get that seesaw tipping in the right direction and change our lives forever.

Daily habits are stored by the brain in the Basal Ganglia. This is a golfball size mass of tissue smack in the center of the brain. Habits save the brain work. There is very little processing power involved with respect to habits. When a habit is formed and stored in this region, the rest of the brain stops fully participating in any decision making with respect to that habit.

There are two types of daily habits:

  1. Ordinary Daily Habits and
  2. Keystone Daily Habits

Ordinary daily habits are simple, basic, stand alone habits; the time we wake up in the morning, the route we take to work, how we hold a fork etc. Keystone Daily Habits are more complicated daily habits and they are unique because they affect other daily habits. Keystone Daily Habits are like pac men; they move around searching for and eating up other ordinary daily habits. Oftentimes, the daily habits they eliminate are daily habits that are in opposition to the Keystone Habit. Let me give you and example:

It’s New Year’s Day and one of your resolutions is to lose weight. You’re about 50 pounds overweight. A close friend, who is a runner, says the fastest way to lose weight is to run. So you decide to start running (Rich Habit). You hate running but after doing it a little while you’re down fifteen pounds. One night you attend an annual social event and someone you know compliments you on your weight loss and how amazing your look. You go home that night feeling happy, like you’re floating on air. That compliment really got you pumped up. The next morning you decide to cut back on junk food (Poverty Habit) and stop overeating (Poverty Habit). You also want to run more in order to lose more weight, so you decide to quit smoking (Poverty Habit). Adopting just one Keystone Habit, running, causes the elimination of three ordinary daily habits: junk food, overeating and smoking cigarettes. That’s why Keystone Habits are so important.

Experts debate how to change a habit, how long it takes and even if it’s possible to get rid of habits.The Rich Habits represent ten Keystone Habits. They were intentionally designed to be Keystone Habits in order to maximize their effectiveness. Adopting just one Rich Habit will cause the elimination of 2 or more Poverty 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. All you need to do is add one or more Rich Habits and your Poverty Habits will begin to go away all by themselves.This is the power of the Rich Habits. No will power required. 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 is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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  1. Great advice, Tom. I love reading your posts. I also read and reread your book, Rich Habits. It is awesome. Thank you, Tom.

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