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
The most significant take away from the book How to Win Friends and Influence People was the insight that we are consumed with ourselves. If you want to win new friends and influence others, focus on their needs, wants and their lives. In my Rich Habits study this doctrine of me, me, me played out…
Millionaires have certain ritual behaviors that put them on the path towards success. What are some of those behaviors? Millionaires Take Care of Their Bodies: 76% engaged in 20 – 30 minutes of cardio, four or more days a week. That’s running, jogging, brisk walking, biking, swimming, etc. It doesn’t cost any money to run,…
Being rich is really about two things: Accumulating Wealth and Keeping the Wealth You’ve Accumulated When you study rich people like I have, particularly the self-made rich, you hear a lot of very inspirational stories about how ordinary individuals accumulated their wealth. It’s clear to me that the worse the circumstances, the more important…
Your brain takes in 11 million bits of information per second. Unfortunately, the brain can only process 40 bits of information per second. Which 40 bits does it choose to accept? The answer to that question dictates the type of life you create. Will that 40 bits be negative information or positive information? Will it…
We all have habits we are unaware of. Sometimes these habits are good and sometimes they are bad. One bad habit that 90% of the poor people in my study had was not taking responsibility for the circumstance of their lives. In short, they blamed everyone but themselves for their financial circumstances. There are plenty…
Why is it that some people live successful lives, contributing to the betterment of society while others live failed lives and become a drain on society? One of the fancy terms economists like to toss around is inter-generational poverty. A few other related terms are low economic mobility, the wealth gap and income inequality. They…
“A soft answer turns away wrath but grievous words stir up anger.” Proverbs 15:1 Ninety-three percent of the self-made millionaires in my study made a habit of not losing their temper. Why? Because anger prevents success. Here are some of my findings from my research regarding anger: People avoid individuals who are not able to…
Successful people seem to be obsessed with success quotes. They love to throw them around wherever and whenever they can. Successful speakers love to use quotes as do successful authors. Success and quotes go together like beer and pretzels. So, I thought I’d share some of the quotes I’ve accumulated from interviewing self-made millionaires,…
There’s a misconception that being naive is a trait – something you are just born with. Not so. The fact is, naiveté is a habit. And a very bad one. According to my research, 27% of self-made millionaires in my study failed at least once. They had to pick themselves up from the financial gutter…
Self-made success is built upon a mountain of mistakes. The more mistakes, the higher your mountain, the greater your success and the more money you’ll ultimately make. In my Rich Habits study, I stumbled onto something I thought was counter-intuitive. The self-made millionaires in my study acknowledged that they had made a lot of mistakes…
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