In my five year study of the rich, I got to be that fly on the wall. I asked each millionaire 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 an admiration. All of…
Many first-time entrepreneurs fail. And when they fail, everyone inside their inner circle suffers – spouses, children, business partners, their banks, creditors, and others feel the pain of their failure. So, why do so many entrepreneurs fail? Thanks to my Rich Habits research, I have an enormous amount of unique quantitative and qualitative data that I…
I have a thought experiment for you. Walter is a very successful, very wealthy, self-made millionaire. His track record, over many years has been incredible – every time he invests money, 99% of the time he succeeds in making himself and his investors more money. Due to his 99% success rate, everyone wants to be…
There are a lot of people who dislike the rich. It’s human nature to eschew that which you don’t like, so, if you dislike the wealthy, you will likely eschew the pursuit of wealth. There are, however, a lot of other people who not only like the rich but aspire to become one of them….
“You are the average of the five people you spend the most time with.” – Jim Rohn Over the course of the average month, there are 720 hours. If you sleep seven hours a day, like most, that’s 210 hours, leaving you 510 hours. Out of that 510 hours, who do you spend the most…
Multitasking is a myth. It is physically impossible to perform two conscious acts at one time. Neurologically, the human brain is only capable of performing one conscious task at a time. When you switch to another task, one set of neurons turns off and a new set of neurons are are turned on. If you…
If you occasionally stress over money, you’re not alone. Only 51 percent of Americans said they were financially secure, according to the March 2015 Pew Survey of American Family Finances. Fifty-five percent of respondents reported either breaking even or spending more than they make each month, and 33 percent indicated they had zero savings….
Charles Koch is a multi-billionaire. Charles and his brother David took over their father’s business and transformed it into the largest privately held company in the world. He was recently asked in a Time Magazine interview about what he attributes his enormous success in life to. Charles responded that if it were not for…
Use it or lose it applies to intelligence. The more you use your brain, the more brain mass you create. More mass = greater intelligence. Brain density is measured by the number of synapses (connections between neurons), the birth of the myelin sheath surrounding each axon (the axon is how brain cells send signals) and…
Building wealth isn’t always easy. It can be very hard, depending on the path you choose. I learned from my Rich Habits Study that there are four very different paths towards accumulating wealth. Some paths are harder than others: Hardest Path to Building Wealth – The Dreamer/Entrepreneur Path Pursuing a dream can be the most…
