“The metaphor I like is the avalanche,” says Thomas Corley, the author of “Rich Habits: The Daily Success Habits Of Wealthy Individuals.” “These habits are like snowflakes — they build up, and then you have an avalanche of success.”
Corley spent five years studying the lives of both rich people (defined as having an annual income of $160,000 or more and a liquid net worth of $3.2 million or more) and poor people (defined as having an annual income of $35,000 or less and a liquid net worth of $5,000 or less).
He managed to segment out what he calls “rich habits” and “poverty habits,” meaning the tendencies of those who fit in each group. But, Corley explains, everyone has some rich habits and some poverty habits. “The key is to get more than 50% to be rich habits,” he says.
And what are those rich habits that are so influential? Here are a few:
Rich people always keep their goals in sight.
“I focus on my goals every day.” Rich people who agree: 62 per cent. Poor people who agree: 6 per cent.
Not only do wealthy people set annual and monthly goals, but 67 per cent of them put those goals in writing. “It blew me away,” says Corley. “I thought a goal was a broad objective, but the wealthy said a wish is not a goal.” A goal is only a goal, he says, if it has two things: It’s achievable, and there’s a physical action you can take to pursue it.
And they know what needs to be done today.
“I maintain a daily to-do list.” Rich people who agree: 81 per cent Poor people who agree: 19 per cent
Not only do the wealthy keep to-do lists, but 67 per cent of them complete 70% or more of those listed tasks each day.
They don’t watch TV.
“I watch TV one hour or less per day.” Rich people who agree: 67 per cent. Poor people who agree: 23 per cent.
Similarly, only 6 per cent of the wealthy watch reality shows, compared to 78 per cent of the poor. “The common variable among the wealthy is how they make productive use of their time,” explains Corley. “They wealthy are not avoiding watching TV because they have some superior human discipline or willpower. They just don’t think about watching much TV because they are engaged in some other habitual daily behavior — reading.”
They read but not for fun.
“I love reading.” Rich people who agree: 86 per cent. Poor people who agree: 26 per cent.
Sure, rich people love reading, but they favor nonfiction — in particular, self-improvement books. “The rich are voracious readers on how to improve themselves,” says Corley. In fact, 88 per cent. of them read for self-improvement for 30 minutes each day, compared to 2 per cent of poor people.
Plus, they’re big into audio books.
“I listen to audio books during the commute to work.”
Rich people who agree: 63 per cent. Poor people who agree: 5 per cent.
Even if you aren’t into audiobooks, you can make the most of your commute with any of these commute-friendly self-improvement activities.
Libby Kane writes for Business Insider.
SOURCE: Daily Monitor