[Podcast] 10 Critical Habits the Wealthy Learn from Their Parents | Rich Habits, Poor Habits Podcast

The wealth gap is widening around the world.

The rich get richer and the poor get left behind.

But why does this happen? Rhph6

According to Tom Corley, the gap is really a parenting gap, not a wealth gap.

In today’s episode, we’ll discuss 10 critical habits that the self-made wealthy learned from their parents.

This will help you understand the lessons that you should be teaching your children to help them grow up to be successful.

And if you haven’t yet learned these lessons yourself, it’s not too late to do so.

10 critical habits the wealthy learn from their parents

  • You create your life. Your life is not determined by the government, other people or external circumstances. You are the pilot of your life.
  • Take responsibility when things go wrong. Don’t blame others or play the victim. Happy Child Dreams Of Traveling And Playing With An Airplane
  • Respect the law. When you break the rules, people don’t trust you and don’t want to do business with you.
  • Seek your main purpose. Kids should experiment with different activities so that they can find and identify their true talents.
  • Pursue your dreams and goals. Define an ideal future life. This creates clarity and helps you see down the road and focus your attentions.
  • Acquiring wealth is a good thing. Wealthy people help fund charities, build hospitals and schools. They should be looked up to.
  • Work hard for what you want. You don’t have to be born wealthy to attain wealth, but you do need to be willing to work hard for it.
  • Respect other people’s property. You’re not entitled to something that another person has. Don’t expect others to give you anything.
  • Improve yourself daily. Parents of self-made wealthy people teach their kids to focus on growth and knowledge.
  • Use time productively. Don’t waste time on distractions. Use your time to learn and improve yourself. Make productivity a habit.

Links and Resources:

Michael Yardney

Metropole

Rich Habits Poor Habits

Michael Yardney’s Mentorship Program

Some of our favourite quotes from the show:

“We know that mentors, models are really important in life because we learn a lot of our habits, the things we do on a regular basis, from things we see, things we hear, things we experience as a child.” –Michael Yardney inspiration success hard wrok

“Clearly, when you make money doing what you love, it leads to a different sort of resilience, it lets you get through the difficult times because all businesses have their ups and downs and challenges. It leads you to your true calling in life. –Michael Yardney

“You don’t have to be born wealthy. Most successful people today, we’re not born that way.” –Michael Yardney

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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'[Podcast] 10 Critical Habits the Wealthy Learn from Their Parents | Rich Habits, Poor Habits Podcast' have 2 comments

  1. Avatar for Property Update

    December 6, 2018 MICHAEL CORRELL

    Yes parenting may have a large impact on the wealth-gap. For example – the unemployed youngest son of an overseas Asian family.recently married a mainly uneducated female who is now pregnant with twins. The uneducated parents of the son appear wealthy as they live in a big house, drive in a van and own two rice fields. However this was all paid for by their daughter who escaped this country and poverty through marriage. In the big house not one book can be found. So we can see the cycle of poverty is passed on through the generations, with the uneducated parents in this case, unable to pass on money-making skills. The unemployed son is a trained mechanic but can find no work in his country.

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