This book, “Rich Habits: The Daily Success Habits of Wealthy Individuals,” by Thomas Corley, explores the daily habits of wealthy people. He explains how those habits contribute to their financial success. Corley, a certified public accountant and financial planner, began his research after encountering a struggling client whose financial problems he couldn’t diagnose. This led him to realize that there was more to financial success than met the eye and that he needed to ask different questions.
Over a five-year period, Corley interviewed both rich and poor clients, asking them a list of 20 questions about their daily lives. He discovered that there was a significant difference in the daily habits of wealthy individuals compared to those who struggle financially. This book, “Rich Habits by Thomas Corley” provides insights that he gained from those surveys and interviews.
Rich Habits Examples
The book uses four stories to illustrate the impact of adopting “Rich Habits”:
- The Insurance Salesman (Phoenix Upman): Phoenix is struggling financially and feels like a failure. He meets a stranger named Champ Dailey who recognizes Phoenix’s struggles in himself and introduces him to the “Rich Habits” taught by a mentor named J.C. Jobs.
- The Secretary (Dee Worthy): Dee is a hardworking secretary with potential but struggles with tardiness and distractions due to family issues. Despite her boss John’s efforts to help her, Dee ultimately loses her job but is later introduced to the “Rich Habits” by another stranger, Jan Goode, who sees her struggles reflected in his own past.
- The Car Dealer (Herb Riser): Herb, a successful car salesman, faces bankruptcy after buying his own dealership. His aggressive sales tactics and lack of focus on building customer relationships lead to his downfall. He is introduced to the “Rich Habits” by a compassionate customer, Susan Changer.
- The Accountant (J.C. Jobs): The accountant is devastated by the death of his wife, Denise, whose illness he believes he couldn’t afford to treat. He starts analyzing the habits of his successful and unsuccessful clients, leading him to develop the “Rich Habits” that ultimately transform his own life.
Rich Habits Training
The “Rich Habits Training Program” is outlined in detail, emphasizing that financial success isn’t just about luck but also involves:
- Forming Good Daily Habits: Replacing bad habits with good ones is the foundation of success.
- Setting Goals: Establishing daily, monthly, yearly, and long-term goals provides direction and focus.
- Engaging in Self-Improvement: Continuously learning and expanding knowledge base is crucial for growth.
- Caring for Health: Maintaining a healthy lifestyle through diet and exercise improves overall well-being.
- Forming Lifelong Relationships: Building and nurturing relationships, both personal and professional, is key to success.
- Living in Moderation: Avoiding extremes and maintaining balance in all aspects of life is essential.
- Accomplishing Daily Tasks (“Do It Now” Mindset): Overcoming procrastination and focusing on completing tasks leads to greater productivity.
- Engaging in Rich Thinking: Cultivating positive thoughts and controlling emotions is crucial for maintaining a successful mindset.
- Saving 10% of Income: Paying oneself first and investing wisely ensures financial security.
- Controlling Thoughts and Emotions: Mastering one’s thoughts and emotions leads to better decision-making and a more fulfilling life.
The book concludes with the story of J.C. Job’s death and the impact he had on millions of lives through the “Rich Habits”. It highlights the transformative power of these habits and the ripple effect they create, improving not only the individual’s life but also the lives of their families and communities. You can buy the book here.
Don’s for get to read the book “The Next Millionaire Next Door“
