Rich Habits can make you Wealthy

Darren Hardy interviews Tom Corley

Tom Corley is the author of the best-seller Rich Habits: The Daily Success Habits of Wealthy Individuals. He writes from Rich Habits Institute headquarters in New Jersey.

You can reach him at http://richhabits.net/

The information presented here is as heard and understood by me

 

Tom Corley understands difference between rich and poor. At age nine his family went from being multi-millionaires to being broke in just one night.

For Five years he studied daily activities of 200 wealthy people and 100 people living in poverty.

He wrote books Rich Habits and Rich Kids.

Wealth has everything to do with your daily habits. Rich do some fractional habits every day that poor don’t do. What was the mix of these rich people – 18% were Senior Executives at big companies, 51% were small business owners, and 13% were salespeople. 63% took some risk in search of wealth. 91% were decision makers at their jobs and 86% worked more than 50 hours per week (one of the rich habits – hard work ethic). 27% failed at least once in business. 80% were focused on pursuing one major goal. 75% learned rich habits from their parents, others learned from career mentors, books and school of hard knocks. 88% read 30 minutes or more strictly for learning. 54% were eternal optimists, 67% watched less than 1 hour of TV per day. 81% maintained a TO DO list. 94% saved 20% or more of their income. 44% woke up 3 hours or more before work day started. 89% slept 7 hours or more each night, 76% exercised aerobically 4 or more times per week.

 

HABITS

Keystone habits are those that overpower or overshadow daily habits i.e. they can control or eliminate them. Add 1 rich habit and it will overpower 3 poor habits.

80% of wealthy were obsessed with pursuing 1 major goal and only 12% of poor were pursing goals. 55% of wealthy spent a year or more pursuing 1 major goal – no one in poor group did that.

Wealthy are master self-educators – 88% spent 30 minutes or more reading to learn, only 2% of poor did that. Wealthy read material related to their dreams, goals, career, self-help, biographies of other success people.

85% or more wealthy read 2 or more books per month.

 

THEY NEVER STOP LEARNING AND MAKE SELF-EDUCATION A DAILY HABIT.

 

63% of Wealthy listened to audio books while driving or exercising, only 5% of poor had this habit.

 

POWER OF ASSOCIATIONS

Rich build successful relationships, with like-minded people. Poor people build relationships with other poor people.

Track your relationships – who do you associate with?

 

HOW DO RICH THINK

Wealthy are more open-minded then poor, they are open to new ideas and things. Poor had limiting beliefs.

Listening is a Rich habit. Wealthy are great listeners.

 

TIME MANAGEMENT

67% of Wealthy watch less than 1 hour of TV, 77% of poor watch more than 1 hour of TV every day.

63% of wealthy spend less than 1 hour on Internet recreationally, 87% of poor spend more than 1 hour on Internet doing nothing constructive.

Wealthy vet their thoughts – they just don’t say what is on their minds as this can ruin relationships.

 

PHYSICAL HEALTH

Wealthy feel better, feel stronger. Besides 30 minutes of aerobic activity 57% of wealthy counted calories every day, only 5% of poor did it

70% of wealthy ate less than 300 junk food calories every day, only 97% of poor ate more than 300 junk food calories per day.

75% of Wealthy avoided fast food regularly, 69% of poor had fast food more than 3 times/week

 

TO DO LISTS

  1. Goals To Do List
  2. Non Goals – Admin work relate
    • Daily 5 – 5 things that they want to accomplish before the day ends. 5 minor things that move them towards a goal, maybe nothing to do with the job
  3. Setting and communicating artificial deadlines
  4. Accountability Partners
  5. Do It Now – Self affirmation and nagging

Track your behavior for a week. List everything you identify as bad habits. List them on paper. Take list and Invest Poverty Habits into rich habits.

E.g. you watch TV over an hour per day, new habit watch TV less than 1 hours per day

You don’t exercise – Exercise 30 minutes aerobically 4 times per week

Carry rich habits with you and tick off. Incorporate them into the TO DO list. If you can get 20% to 30% into your routine it will overpower your bad habits.

 

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