Do the mega-wealthy utilize their time differently in order to achieve success? You bet! The very rich actually have certain habits according to years of research by Tom Corley. Their “Rich Habits” focus on achievement, which provide more time for profitable work, family, and fun.
I consider this a wealth formula – a tune up to more success! Now, incorporating some of these may not immediately put money in your pocket but in time you’ll become more efficient at work and more aware of how you spend your time – which may open doors of opportunities for you. These habits are a way of working smarter not harder.
How does your lifestyle compare? Here are 6 of the 16 “Rich Habits.”
1. LESS TV: The mega-wealthy watch less than an hour of TV a day. That one may be my biggest challenge! Instead, free time includes in-person activities like personal development, volunteering, and networking. Yes, they spend their extra time learning more and building relationships. Their philosophy is “Learn to Earn!”
2. READ MORE: At least 30 minutes a day, the mega wealthy read, or listen to audio books and the genre pertains to non-fiction, education, current events, biographies, or history. The purpose of reading is for improvement and information. Fifty Shades of Grey is most likely not on their bookshelves, but then everyone needs a little break, right?
3. LIVE WITHIN MEANS: Yes, even with all their money – they live within their means. Sure, you may think when you have millions does the well ever run dry? Well, we all know of celebrities who seem to have it made yet declare bankruptcy. The mega-wealthy pay their Present & Future-self first. They invest in themselves with materials, masterminds, conferences, as well as in a portfolio. This includes a retirement plan; investment funds that don’t lose money – other than stocks; less than 25% toward housing or their housing is paid off, 15% on food expenditures, and tend to “buy” instead of lease.
4. MANAGE EMOTIONS: The mega-wealthy master controlling their emotions by filtering them. They understand volatile behavior can destroy work and home relationships. Loose lips lead to trouble and to the wealthy are a sign of those who struggle.
5. GO ABOVE AND BEYOND: The mega-wealthy write articles, are board members, create companies, speak at events, attend networking functions if not in charge of them…Those who struggle tend to say, “I don’t have time for that or that’s not my job.”
6. POSITIVE OUTLOOK: The mega-wealthy know their purpose in life. They love what they do, have hope, set one big goal, and pursue their dream like it is their reason for living.
These are just 6 of the 16 “Rich Habits” of Tom’s research. I created a one-page cheat sheet I’d love to send to you. Simply “Contact Us” from our website with subject line of “Rich Habits.”
Do you live by these criteria? What habits do you have? Need some one-on-one mentoring of your goals, brand strategy, or video presence? I’m interested in hearing from you.
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