HABITS OF RICH PEOPLE
The vast majority of rich people didn’t get there by accident or luck. Accumulating wealth requires hard work, dedication, and – most importantly – maintaining a specific set of habits that foster prosperity. As Aristotle said, “We are what we repeatedly do. Excellence, then, is not an act, but a habit.”
If you’re looking to train your focus in work and in life but don’t know where to get started, these are habits of wealthy people can help illuminate your path to success.
1. They read consistently
Corley wrote that 88% of rich people "devote thirty minutes or more each day to self-education or self-improvement reading" and that "most did not read for entertainment."
"The rich read to acquire or maintain knowledge,"
he said.Corley found that they tended to read three types of books: biographies of successful people, self-help or personal development books, and history books.
2. They get up early.
Nearly 50% of the self-made millionaires in Corley's study said they woke up at least three hours before their workday actually began.
It's a strategy to deal with inevitable daily disruptions, such as a meeting that went too long, egregious traffic, or having to pick up your sick kid from school.
"These disruptions have a psychological effect on us. They can drip into our subconscious and eventually form the belief that we have no control over our life," Corley wrote. "Getting up at five in the morning to tackle the top three things you want to accomplish in your day allows you to regain control of your life. It gives you a sense of confidence that you, indeed, direct your life."
3. They have multiple sources of income.
"Self-made millionaires do not rely on one singular source of income," Corley said. "They develop multiple sources ."
He said that "three seemed to be the magic number in my study," adding that 65% "had at least three streams of income that they created prior to making their first million dollars."
Examples of these additional streams are real-estate rentals, stock-market investments, and part-ownership in a side business.
4. They seek feedback.
Additionally, it allows you to change course and experiment with a new career or business. As Corley said, "feedback provides you with the information you will need in order to succeed in any venture."
5. They Write their Goals
It’s proven that if you write down your goals, you are more likely to achieve them. The act of writing things down helps to keep them in the forefront of our minds. Take it a step further and break down your goals into things you can do today, this week, this month, and this year to reach them. How do you eat an elephant? One bite at a time. Writing down each bite makes things more manageable.
If your goal is to save $500 in a month, today you can make coffee at home rather than buying it on the way to the office. For the week, you can bring your lunch to work. For the month, you can become a cord cutter and get rid of cable, research a cheaper phone plan, and sell three items just sitting around your house on ebay Write down the goals and the steps to get there.
6. Live in the future
“I am living in the future, so the present is my past.” – Kanye West
People who have wealth or make a lot of money are not fortune tellers or wizards who predict the future; they are ordinary people like you and me.
One thing they do differently on a daily basis is attempt to forecast future trends.
Steve Jobs displayed this daily habit and it is often cited as the platform for a lot of Apple’s innovative products. Steve seemed to know what people would want even before they knew they would want it. Sometimes the products themselves didn’t even exist. When it comes to building wealth, a daily habit to practice is forecasting what challenges the future may bring. Like Warren Buffett once said, “Someone is sitting in the shade today because someone planted a tree a long time ago.”
Rich People Habits
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