TOM CORLEY
Rahway
As seen in:
CNN,
MSN,
Aol,
CNBC,
KTVT-TV (Ft. Worth, TX),
WBBM-TV (Chicago, IL),
WBZ-TV (Boston, MA),
Entrepreneur,
Flipboard,
Success Magazine
and
Covers:
rich habits, poor habits, raising financially savvy children, financial health, the american dream, success, success habits, success parenting, daily habits, poverty parenting, poverty, parenting
Bestselling author, speaker, media contributor. Tom is also a CPA, CFP and has an M.S. in Taxation
Articles by TOM CORLEY
92% of Self-Made Millionaires Do Not Own a Luxury Automobile Original
Automotive Image of a rich man contrasted with a poor man. Image source: Richhabits.net. In my five-year long Rich Habits Study I studied the habits of 233 wealthy individuals and 128 poor individuals. I asked each individual 144 questions about every aspect of their lives, which translates into 51,984 questions. Thanks to my study, I learned some interesting things about the wealthy that I never knew or read about before.
92% of Self-Made Millionaires Do Not Own a Luxury Automobile
Image of a rich man contrasted with a poor man. Image source: Richhabits.net. In my five-year long Rich Habits Study I studied the habits of 233 wealthy individuals and 128 poor individuals. I asked each individual 144 questions about every aspect of their lives, which translates into 51,984 questions. Thanks to my study, I learned some interesting things about the wealthy that I never knew or read about before.
92% of Self-Made Millionaires Do Not Own a Luxury Automobile
McLaren's New Logo Looks Like Something You'd See On Designer Clothes McLaren dabbled in road cars throughout the brand's history, most notably with the legendary F1, but it didn't get serious about being an automaker …
66% of the Poor are 30+ Pounds Overweight vs. 21% of the Rich
Habits that keep the body lean—daily movement, controlled eating, and disciplined routines—also support the energy and focus required to build wealth. Image source: Richhabits.net. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET In my five-year Rich Habits Study, I interviewed 233 wealthy individuals and 128 people living in poverty.
79% of the Poor Believe Wealth Comes From Random Luck. 84% of the Self-Made Rich Prove Them Wrong
Contrast between a man with rich habits versus a man with poor habits. Image source: richhabits.net. In my five-year Rich Habits Study, I interviewed 233 wealthy individuals and 128 people living in poverty. One of the clearest divides in mindset appeared when I asked about the role of luck in building wealth. Seventy-nine percent of the poor believed wealth comes from random good luck. Only 8% of the overall rich group agreed.
79% of the Poor Believe Wealth Comes From Random Luck. 84% of the Self-Made Rich Prove Them Wrong
Contrast between a man with rich habits versus a man with poor habits. Image source: richhabits.net. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET In my five-year Rich Habits Study, I interviewed 233 wealthy individuals and 128 people living in poverty.
How Self-Made Millionaires Use Their 86,400 Seconds in Each Day to Get Rich
The wealthy have daily goals, network more and focus on high value tasks to a greater extant than the poor. Image source: Richhabits.net. Within the fleeting gift of each day, 86,400 seconds bestowed upon us all, lies the secret of millionaires. I, shall reveal how the prosperous transform these moments into gold. Through my five-year study of 233 wealthy souls—177 self-made—emerge truths that beckon us all to action.
Are You Raising Your Children to be Rich or Poor – 10 Bad Habits Parents Unknowingly Teach Their Kids
As infants and toddlers, our brains are hard-wired by nature for “monkey see, monkey do” behavior, thanks to something called “Mirror Neurons. Thanks to these Mirror Neurons, children pick up the vast majority of their habits from their parents. Good or bad. Whether you realize it or not you could be teaching your children certain bad habits that will set them up to struggle financially in life.
Everything You Need to Know About Becoming Rich
Becoming rich requires consistent work, good health and daily education. Image source: Richhabits.net. Since 2004, I’ve been immersed in studying what to do and what not to do in order to become wealthy and avoid poverty. Thanks to my Rich Habits Study and my ongoing Rich Habits research, I’ve learned an enormous amount about what it takes to become wealthy.
Everything You Need to Know About Becoming Rich
Becoming rich requires consistent work, health and daily education. Image source: Richhabits.net. Since 2004, I’ve been immersed in studying what to do and what not to do in order to become wealthy and avoid poverty. Thanks to my Rich Habits Study and my ongoing Rich Habits research, I’ve learned an enormous amount about what it takes to become wealthy.
For Most Of The Self-Made Rich, Luck Was A Huge Factor In Creating Their Wealth – 16 Types of Luck That Create Wealth
For most of the wealthy, luck is a huge factor in becoming rich. Image Source: Richhabits.net In my five-year Rich Habits study of 233 millionaires (177 self-made) and 128 poor individuals, one finding stood out clearly – luck played a massive role in wealth creation. Eighty-eight percent of the self-made millionaires in my Rich Habits Study credited good luck as a major contributor to their success. They didn’t see themselves as purely self-made in the classic sense.
Three Common Strategies Most Millionaires Use to Build Their Wealth
It’s hard to save your way to wealth. It took the average millionaire in my Rich Habits Study between 12 – 32 years to accumulate an average of between $3.3 – $7.4 million. When asked about the importance of saving, 88% of the millionaires in my Study stated that it was critical to success. Almost all of the millionaires in my Study used three key strategies to grow their wealth. #1 Automated Savings Each Saver-Investor consistently saved 20% or more of their net pay, each pay check.
Three Common Strategies Most Millionaires Use to Build Their Wealth
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET It’s hard to save your way to wealth. It took the average millionaire in my Rich Habits Study between 12 – 32 years to accumulate an average of between $3.3 – $7.4 million. When asked about the importance of saving, 88% of the millionaires in my Study stated that it was critical to success.
16 Habits That Transformed 177 Ordinary People Into Self-Made Millionaires
My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! Your daily habits are the reason you are rich, poor or stuck in the middle-class.
Why Poor People Stay Poor: The Brutal Habits Keeping You Broke
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET I love the Joe Rogan podcast because Rogan cuts through all of the noise with his straight talk and common sense logic. You can learn a lot just from listening to his podcast. Some of the things I’ve learned from the Rogan podcast align with much of my Rich Habits research.
Tips on Improving Your Odds of Becoming a Millionaire
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! Tip #1 Automate Your Savings Each Saver-Investor in my Rich Habits Study/Research consistently saved 20% or more of their net pay, each pay check. Many accomplished this by automating the withdrawal of a fixed percentage of their net pay.
Do You Set Aside Dream Time Each Day?
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET In my five-year Rich Habits study of 233 wealthy individuals and 128 poor individuals, one pattern stood out clearly: self-made millionaires protect the first two hours of every day with almost religious devotion.
Poor Habits Turn Your Life Into A Landfill. It’s Time to Get Rid of Your Junk
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! We all do things we should not do. We all have Poor Habits. However, according to my research, having Poor Habits is not fatal to success and wealth accumulation so long as you limit, or moderate those Poor Habits. If you have Poor Habits, the solution, therefore is to limit how often you engage in them.
The Hardest Part About Pursing a Big Goal is the Beginning. After the Beginning, Everything Gets Easier
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET In the early 90’s, I went to grad school at night three days a week, after work. I had three very young kids at the time. I remember how hard it was in the beginning. That goal forced me to make sacrifices and develop new routines.
Success is a Sausage – Here Are the Ingredients
Many people love to eat sausage because it tastes so good. But, if you ever witnessed how sausage was made and the ingredients that went into it, you’d likely cringe. Most people feel the same way about success as they do about sausage – they want it. They’d like to be able to live in mansions, have yachts, go on exotic vacations, fly in private jets, own expensive cars, buy expensive jewelry, have a house on the ocean, etc.
7 Incontrovertible Truths About Building Wealth
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! I’ve found that becoming wealthy is not a fluke. I spent five years studying the habits of 233 millionaires — 177 that were self-made — in order to find out how they spent their time from the moment they woke up in the morning, to the moment they put their head on the pillow.
Everything You Need to Know About Becoming Rich
Since 2004, I’ve been immersed in studying what to do and what not to do in order to become wealthy and avoid poverty. Thanks to my Rich Habits Study and my ongoing Rich Habits research, I’ve learned an enormous amount about what it takes to become wealthy. Here are the most important things I’ve learned about building wealth: There are 4 paths to wealth Saver/Investor Path – Save 20% or more of your income and consistently/prudently invest those savings over many years.
Optimists Make More Money and Accumulate the Most Wealth
My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! 70% of the people you run into in life are pessimistic and only 30% are optimistic.
Poverty Habits
Poor Habits are self-sabotaging daily behaviors that perpetuate poverty, poor health, and stagnation. Rich Habits are success-oriented practices that build wealth, good health and fulfillment.
20 Shared Habits of All Successful Entrepreneurs
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET Rich Habits are the habits that were common among the self-made millionaires in my Rich Habits Study.
Scott Adams (Creator of Dilbert), Like Most Successful People, Had a Process He Used to Automate Success
Scott Adams was the creator of the Dilbert Cartoon series. Dilbert made Adams very successful, and very wealthy. Because success always leaves clues, as part of my Rich Habits research, I have forged the daily habit of reading books written by successful people. One of the interesting reveals Adams made in his book was the fact that he did not pursue goals. Rather, he focuses on the “process” that made him so successful.
Good partners make you rich bad partners bankrupt you. Here's why
Steve Jobs had Steve Wozniak. Warren Buffett had Charlie Munger. Larry Page had Sergey Brin. Some of the most successful people in the world owe their success to the partnerships they forged along the way.Finding the perfect business partner is one of those fast tracts to success I love to talk about. In the case of a perfect business partnership, 1 + 1 = 3.
How To Gain The Respect of Others
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET If you want to be respected and treated properly by others, you must train them to respect and treat you properly. Below are a few guidelines for training others to treat you with the respect you deserve: Stop saying yes to everything. Saying no sends a message that your time is valuable.
Take On One Thing and Beat It Into Submission
“You will never reach your destination if you stop and throw stones at every dog that barks.” – Winston Churchill Success, particularly as an Entrepreneur or Virtuoso, demands obsession. In order to succeed in whatever it is you do, you must become fanatically obsessed with one thing for a long period of time. Obsession creates a laser-like focus enabling you to ignore anything that distracts you from your obsession. This is one of the many reasons why very successful leaders rely on a team.
Time Wealth
In a world obsessed with becoming rich, true prosperity lies in “time wealth” – the freedom to control how you spend your time, unburdened by employer or work obligations that make you feel enslaved. Creating Time Wealth, however, requires an upfront investment of your time in creating an asset that can be monetized, generating a secondary stream of income.
Time Wealth - [your]NEWS
Original article can be found here. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET In a world obsessed with becoming rich, true prosperity lies in “time wealth” – the freedom to control how you spend your time, unburdened by employer or work obligations that make you feel enslaved.
Setting High Expectations is a Poor Person Habit
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET When you pursue any dream it is an emotional roller coaster ride. What adds volatility to that ride is unmet expectations. Your dream creates the long-term vision that keeps you focused on the big picture.
We Are All Slaves. But, Wealth Ends Your Enslavement
Does your work inspire you or is it drudgery? If it’s drudgery, you’re in good company. According to a 2012 survey conducted by “Big 4” accounting firm Deloitte, 80% of those surveyed did not like their jobs. In another survey conducted by Gallup in 2013, 63% of the 230,000 employees in the survey said they were unhappy with their jobs. The vast majority do not like what they do for a living. As a result, they feel imprisoned by their jobs.
Rich Relationships
My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! The pursuit of success is hard.
The Worst Time To Make Important Decisions
My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! Have you ever brow beat yourself over a decision you made?
Re-Program Your Mind For Success Using This 5 Step Rich Habits Process
There are two schools of thought that people fall into. Each school of thought was programmed into you by your parents, teachers, mentors or your environment.
The Copy-Cat Strategy
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET Many successful individuals seek to mimic or model themselves after other successful people they admire. Typically, these are individuals within their same industry.
Where You Live Is Critical To The Pursuit of Success
If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET There are eight factors that are needed in order to make the pursuit of success possible. Without these eight factors, success is impossible. Success can only flourish in a free-market economic system. Marxist-based societies remove the incentive to pursue success – the acquisition of wealth.
For Most, Money Does Buy Happiness
Image source: Richhabits.net If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET You’ve no doubt heard the saying “money doesn’t buy happiness”. It’s very likely you heard it from your parents or someone who was not wealthy. The problem with that ideology, is that it’s not true.
Those With Money Have 58% Fewer Problems & Less Unhappiness
I spent many years studying the rich and the poor in my Rich Habits Study and found that there were twelve problems almost everyone has to contend with in life: Health Problems Financial Problems Family Problems Neighbor Problems Home Repair Problems Car Problems Addiction Problems Job Problems Relationship Problems Death or Disability Problems Time Management Problems Weather Problems Each of these problems creates stress, worry and unhappiness for anyone affected by them.
Pain Power
In the pursuit of success, pain is not an enemy but a powerful ally. “Pain Power” refers to the transformative force of discomfort, failure, and mistakes that propel personal growth, learning, and mastery. Drawing from extensive research on the habits of the wealthy, it’s clear that embracing pain is a cornerstone of achievement.
Productive Repetition: The Power of Repetition in Building Wealth and Success
“The definition of insanity is doing the same thing over and over and expecting a different result.” This quote is often attributed to Albert Einstein. Yet, this quote has been misinterpreted. It overlooks a crucial truth: repetition is the bedrock of mastery, skill-building, and wealth creation. Repetition is not insanity. Repetition is critical to developing, maintaining, improving and perfecting marketable skills and knowledge.
Escaping the Consumerist Matrix: Daily Habits That Help Deprogram You, Build Wealth and Set You Free
In the iconic film The Matrix, characters awaken to a harsh truth. They realize their perceived reality is actually a simulated illusion. Moreover, this system is designed to keep them complacent and controlled. Today, this metaphor extends powerfully to modern consumerism. It acts as a pervasive “matrix” of advertising, social media, and cultural norms. Unfortunately, this system indoctrinates us into endless buying cycles.
Clarity is One of the Secrets to Success & Becoming Wealthy
Image source: Richhabits.net My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You! TOM@RICHHABITS.NET “Take up one idea. Make that one idea your life.
Why The Smartest Are Not The Richest
In a world that idolizes IQ scores and academic accolades, it’s easy to assume the brightest minds will amass the greatest fortunes. Yet, reality paints a different picture. High intelligence often fails to translate into wealth. Why? The answer lies not in brainpower alone, but in the daily habits that bridge knowledge and prosperity. As my Rich Habits research reveals, self-made millionaires—those who built their wealth from scratch—aren’t defined by their smarts.
Snapshot of Your Average Multi-Millionaire
In my five year study of the rich, I got to be that fly on the wall. I asked each of the 233 millionaires 144 questions, broken down into 20 categories. The insight into their lives completely changed my understanding of millionaires and how wealth is accumulated. My disdain for the rich morphed into admiration. All of the indoctrination about the rich I had received growing up without money, melted away under the hot coals of reality.
Not All Income Is Created Equal
Image source: richhabits.net One of the common characteristics of self-made millionaires is that they generate income from multiple sources. In fact, 84% of the self-made millionaires in my Rich Habits Study had three streams of income. But, not all income is created equal. One or more of those streams of income are what’s called passive income. Passive income is income that you do not have to work for to generate income. It is automatic income. An example is an annuity.
Frugal Spending Habits of Self-Made Millionaires
Image source: Richhabits.net I’ve been studying the daily habits of the rich and poor since 2004. I’ve gathered an enormous amount of data on both groups and this data has been reported on by the media in 27 countries around the world. One of the categories I found to be eye opening was their spending habits.
Frugal Spending Habits of Self-Made Millionaires
I’ve been studying the daily habits of the rich and poor since 2004. I’ve gathered an enormous amount of data on both groups and this data has been reported on by the media in 27 countries around the world. The habits of the rich are not exactly what you might think. In my books, Rich Habits, Rich Kids, Change Your Habits Change Your Life, Rich Habits Poor Habits and Effort-Less Wealth, I share many of the more little-known rich people habits.
92% of Self-Made Millionaires Do Not Own a Luxury Automobile
Image Source: Richhabits.net In my five-year long Rich Habits Study I studied the habits of 233 wealthy individuals and 128 poor individuals. I asked each individual 144 questions about every aspect of their lives, which translates into 51,984 questions. Thanks to my study, I learned some interesting things about the wealthy that I never knew or read about before. One of those interesting things was the fact that 92% of self-made millionaires said they did not drive a luxury automobile.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with TOM
Contact TOM , search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack