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In my five year study of the habits of the rich and poor, I discovered that luck plays a critical role in determining success or failure. In fact, 87% of the rich in my study admitted that good luck, or unexpected good consequences, made it possible for them to amass their enormous wealth. Conversely, 54% of the poor admitted that bad luck, or unexpected bad consequences, forced them into poverty.
But there’s more to the story.
The luck that helped forge a life of success for the wealthy was a unique type of luck known as Opportunity Luck. Successful people do certain specific things every day, oftentimes for many years, that gives birth to this Opportunity Luck.
What I’m talking about is the principle of Cause and Effect. Successful people create the opportunity for good luck by doing certain good things every day, for many years (the cause) and good luck follows (the effect).
Good habits, I discovered from my research, are the cause and Opportunity Luck is the effect.
This Opportunity Luck is typically something unexpectedly good that occurs while the wealthy are in pursuit of their dreams and goals. Because they go all in and pursue success every day by forging specific good goal habits, eventually their “Rich Habits” give birth to good luck.
Persistence, a common trait among all self-made millionaires, is actually the consistent application of these Rich Habits and those good daily habits, eventually manifests Opportunity Luck. The key is the persistent application of these good habits – persistent good habits, or what I call Rich Habits, sets the stage for good luck to enter.
Conversely, poor people create something known as Detrimental Luck. This is another cause and effect type of luck that is the result of doing certain bad things every day, for many years (the cause), and these bad things result in bad luck (the effect).
Persistent bad habits, or what I call Poor Habits, sets the stage for bad luck to enter.
So, if you want to change your luck, you need to change your daily habits.
Rich Habits foster Opportunity Luck and Poor Habits foster Detrimental Luck.
Change your habits and you will change your luck. It’s really not that complicated.
It would be an interesting study to what percentage of those that are doing “good things” to hopefully have Opportunity Luck actually end up wealthy. Is it 1% or 50%? And of those making bad decisions, what percentage end up poor or what percentage end up wealthy anyway.