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In my Rich Habits Study, I found there were Four Paths To Building Wealth:
- Saver-Investor Path
- Big Company Climber Path
- Virtuoso Path and
- Dreamer-Entrepreneur Path
One of the 144 Questions I asked each of the 233 Wealthy individuals in my Study was this:
Do you do more than your job requires?
Almost all of the Saver-Investors responded, No. The Saver-Investor Path includes middle class employees who were pursuing wealth by saving and investing 20% or more of their net pay. They lived simple lives, with a modest standard of living, which is how they were able to set aside 20% of their net pay. The Savers in my Study were not interested in taking on additional responsibilities or tasks in an effort to climb the company ladder at their jobs in order to become senior executives at their company. They were happy working 9-5 and more interested in spending as much time as possible with family and friends.
But, 94% of the Big Company Climbers, Virtuosos and Dreamer-Entrepreneurs responded, Yes.
These individuals went above and beyond in order to become wealthy by working an average of 51 hours per week during most of their careers. They took on increased responsibilities/projects at work and as a result, were forced to make significant sacrifices, which typically included spending much less time with family and friends than the Saver-Investors in my Study.
In effect, they traded Freedom for the Pursuit of Wealth.
Tom Corley is an accountant, financial planner and author of “Rich Kids: How to Raise Our Children to Be Happy and Successful in Life”, Effort-Less Wealth, Change Your Habits Change Your Life, Rich Habits Poor Habits and “Rich Habits: The Daily Success Habits of Wealthy Individuals.”
