7 Rich Habits

Key Takeaways

  • Wealthy, successful people tend to have seven habits and behaviors that people living in poverty do not.
  • They tend to be persistent, realistic goal setters, positive thinkers, self-educators, and able to find career mentors, track their progress and find strong peer groups.
  • To set SMART goals, make sure they are Specific, Measurable, Attainable, Realistic and Timely.
  • Don’t just commit to losing weight—commit to working out for 30 minutes three times a week, sleeping seven hours daily and losing two pounds per month.

***Rich Habits: The Daily Success Habits of Wealthy Individuals can help you unlock your best.

My parents and grandparents drilled into me that the secret to success is hard work. In a great book, Rich Habits: The Daily Success Habits of Wealthy Individuals, author Tom Corley spent five years observing habits of 233 rich people and 128 people living in poverty. The folks who were rich tended to do these seven things:

  1. Be persistent. They seem to have a way of doing things consistently, watching themselves very carefully in their thoughts and words, reading constantly, and spending less time doing activities that don’t result in successful outcomes.
  2. Set attainable goals. They tend to be SMART about what they’re striving for—they set goals that are Specific, Measurable, Attainable, Realistic, and Timely. You can’t just say, “I’m going to lose some weight.” That doesn’t do anything. However, if you say, “I’m going to eat only 1,500 calories a day, work out for 30 minutes three times a week and sleep seven hours daily so that I lose two pounds per month.” Completely different story.
  3. Find a career mentor. After you’re in the working world, why reinvent the wheel? Go out and find someone who will mentor you in your chosen profession or job. Ask that person to help you get up to speed very quickly so you can get really good and well connected in your field.
  4. Be positive. You hear it all the time. Having a positive outlook on life makes a huge difference. Wealthy people are four times more likely than the poor to have a positive outlook on multiple areas of life.
  5. Educate yourself. Wealthy people read 30 minutes a day—nonfiction. Be a lifelong learner. Be inquisitive about what’s happening in the world, and associate yourself with people in that same stratus.
  6. Track your progress. If you don’t measure it, you can’t improve. Successful, wealthy people are almost obsessive about tracking and measuring all aspects of their lives.
  7. Surround yourself with success-oriented people. It’s been said that you’re a combination of the five people you hang out with most. It’s very important to make sure you’re spending the majority of your time with the right kinds of people.

Conclusion

It doesn’t matter whether you’re a young person just out of college or someone who’s retired. These habits above are found consistently among affluent, successful people across America. For more on this topic, read 7 Habits of the World’s Richest People by Inc. magazine’s Jayson Demers.

Our third annual Spring Cleaning Barbecue  is coming up soon. You can shred your documents and recycle old electronics as well as donate other items to Salvation Army. We’re co-hosting it with the accounting firm Weiss & Company on Saturday, May 16, from 10 a.m. to 2 p.m., right in our parking lot. Save the date!

Until next time, enjoy.

—Gary

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

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