When it comes to managing and investing money, the rich are very different from the non-rich. From my five-year study of the rich and the poor, I discovered that there were certain common money management mistakes the rich never seemed to make. The rich avoid uneducated risk-taking The rich do their homework. They study investments…
I knew one of the self-made millionaire entrepreneurs in my study for a long time. Several years before he became rich, he and I took a Saturday to play golf. Throughout our round, he must have said to me a dozen times that he was a pathetic loser. I told him he wasn’t a loser….
Your habits create luck. Random luck, good or bad, is fairly democratic. It visits rich and poor alike. But did you know you can intentionally create your own good luck and minimize bad luck? The creation of good luck requires the consistent application of good habits over a long period of time. One common theme…
The study of the rich and the poor has led me down many rabbit holes. One very important rabbit hole was habits, which I am now certain dictates the circumstances of our lives. But another important rabbit hole I ventured down, is something that every human seeks – happiness. I’ve identified seven pillars of happiness….
Slickdeals, an online couponing site, commissioned a survey of 2,000 American adults in an effort to better understand impulse purchases. One startling find was that the average American engages in three impulse purchases a week. This impulse spending habit costs the consumer about $450 per month, $5,400 per year and $324,000 over their lifetime. Now,…
In my books, Rich Habits and Effort-Less Wealth, I highlight some of the habits that have the most impact on your financial life. Below I share 8 of those habits. #1 Self-made millionaires engage in dream-setting It’s never too late to dream. Grandma Moses began painting at age 80. Colonel Sanders was in his early 60’s…
The pursuit of happiness is the one common denominator of all human beings. People will spend their entire lives in the pursuit of happiness. But, if you don’t know the true path toward long-term happiness, you can get lost along the way and pursue false paths to happiness. Recreational drugs, alcohol, sex, excessive recreation/entertainment, and…
We essentially have two brains – the Conscious Brain and the Unconscious Brain. The Conscious Brain, or Neo Cortex, is the outermost portion of the brain. It’s what you typically see in pictures, with all those wrinkles. It is located in the brain’s topmost layers and includes the neocortex and the lobes. More specifically, it…
Time is the most valuable resource we have. Not wealth. Not people. Not knowledge. Not skill. Time. What makes Time so valuable is that it can never increase. You can increase your wealth. You can increase the number of your relationships. You can increase your knowledge and you can increase your skill-set. Time only decreases….
“The best time to plant a tree was 20 years ago. The second best time is now,” Chinese Proverb Thirty-nine per cent of the millionaires in my Rich Habits Study pursued some dream, despite the fact that they were not ready. It didn’t matter that they did not know what they were doing. It did not…
