- Author Tom Corley spent five years studying the habits of the rich, which he chronicled in his best-selling books.
- He found many common habits among rich people, including reading, emphasis on building relationships, setting goals, and taking calculated risks.
- Many people who never get rich often have something he calls “do-nothing habits,” like not reading daily, not networking with successful people, and not prudently investing money.
- It’s not just what you do, but what you choose not to do, that determines your success.
I spent five years studying the daily habits of hundreds of rich people. In my bestselling books, “Rich Habits” and “Change Your Habits, Change Your Life,” I shared some of the important findings from that study.
During my research, I learned that the self-made rich adopted specific habits that enabled them to achieve their dreams and their goals. This included things such as:
- Experimentation: Trying new things in order to uncover an innate talent or passion.
- Reading: 30 minutes or more every day for self-education.
- Building rich relationships: Forming connections with the right people — other future millionaires.
- Goal-setting: Pursuing goals that are stepping stones to your dreams.
Taking calculated risks: Not being afraid to take the type of risk that requires you to do your homework before investing your money.
There are many others (over 300!) but I think you get the idea — the rich are habit-driven.
My research also led to another proprietary discovery. Those who were not rich also had habits. However, many of those habits were “do-nothing habits”:
- Not reading to learn is a habit.
- Not exercising every day is a habit.
- Not eating healthy is a habit.
- Not pursuing your dreams is a habit.
- Not creating and pursuing goals is a habit.
- Not returning phone calls immediately is a habit.
- Not waking up early to pursue self-improvement is a habit.
- Not saving money is a habit.
- Not prudently investing your savings is a habit.
- Not being frugal is a habit.
- Not doing more than you are paid is a habit.
- Not avoiding time wasters is a habit.
- Not doing what needs to be done (procrastinating) is a habit.
- Not networking with other success-minded people is a habit.
- Not making happy birthday calls is a habit.
- Not making life event calls is a habit.
- Not taking personal responsibility for your life is a habit.
- Not volunteering for a worthwhile charity is a habit.
- Not being charitable with your money is a habit.
Many people have do-nothing habits. As a result, many people struggle in life. Some struggle financially, some struggle with poor health, and some struggle with their relationships.
Do-nothing habits are like a mirror: They reflect back the life you have chosen for yourself through inaction. Oftentimes, it’s not what you do that determines the circumstances of your life — it’s what you choose not to do.
By: Thomas C. Corley, Contributor
Source: This Insider