Tom is a CPA, CFP and heads one of the top financial firms in New Jersey. For 5 years, Tom observed and documented the daily activities of wealthy people and people living in poverty and his research he identified over 200 daily activities that separated the “haves” from the “have nots” which culminated in his #1 bestselling book, Rich Habits – The Daily Success Habits of Wealthy Individuals. Visit the website: www.richhabits.net
Were your parents good with money? Were they bad with money? Was money a source of stress or anxiety during your childhood? Did your parents fight over money? Was money always hard to come by growing up? Was one parent in charge of making money? Was one parent in charge of spending money? We all…
History is replete with famous individuals and companies who either failed or came within a hair’s breadth of failure: Abraham Lincoln failed six times in politics before he was elected President of the United States. Henry Ford’s first automobile company went bankrupt. Thomas Edison failed 10,000 times with the incandescent light bulb. R.H. Macy failed…
Eighty-one percent of the self-made millionaires in my Rich Habits Study were never divorced. This equates to a divorce rate of only 19%. That’s a staggering data point, considering, in the general U.S. population, the divorce rate, according to data from the National Survey of Family Growth, was somewhere between 44%-48%. When you marry well, it shows…
When you think of entrepreneurs, what images immediately pop up in your mind? Do you see bold, courageous, fearless individuals, confidently moving forward, with little to no doubt that success is just a matter of time? Or, do you see someone swimming in a sea of doubts, uncertain if they will be able to make…
Success is built upon a mountain of mistakes. The higher that mountain, the greater your success. As crazy as it may sound, you want success to take a long time. The longer you pursue success, the more you will learn from your mistakes and failures and the more expert you become in whatever you…
Most everyone wants to become rich. According to my Rich Habits research, being rich eliminates 67% of the problems that plague most people. So, besides being able to buy that house by the beach, a Rolex watch or travel to exotic places, being rich means fewer problems in life. Fewer problems equals less stress. Less…
Steve Jobs had Steve Wozniak. Warren Buffet 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. Finding the perfect business partner is one of those fast tracts to success I love to talk about. In the case of a…
Being rich is really about two things. In my Rich Habits Study, I interviewed 233 wealthy individuals (177 of whom were self-made millionaires) with at least $160,000 in annual gross income and $3.2 million in net assets. I found that becoming and staying rich tends to come from two actions: Accumulating wealth Keeping the wealth…
One of the things that stood out from my Rich Habits Study was how important thinking was to self-made millionaires. I tracked 10 different types of thinking habits these millionaires engaged in frequently, if not daily. From my research, it was so evident that thinking was fundamental to their success that I decided it needed…
Those who know how to manage money make it their slave. Those who do not, become its slave. In my research I discovered specific money habits of the rich that they used to accumulate enormous wealth: Put Money to Work – Accumulating money is good but it will not make you rich. You must put…
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