Today we're going to dive into the world of wealth creation and breaking the cycle of poverty.
Joining me is Tom Corley, who's dedicated his career to understanding the behaviours that separate the rich and the poor.
According to Tom's research, only 4% of people born into poverty become rich.
Now, that's a shocking statistic.
Why is it so hard to break free?
What are those habits holding people back and, most importantly, what can be changed?
Tom's going to answer those questions, and we're going to discuss the habits and mindsets that contribute to poverty, the role of knowledge and mentorship, and how to overcome the limiting beliefs that keep people stuck.
No matter where you are on your wealth journey, I'm sure my chat with Tom will be of benefit to you.
My conversation with Tom covered a range of topics, from the critical role of mindset to actionable habits that can transform financial futures.
- Why only 4% of people born into poverty manage to amass wealth
- Experts discuss poverty in terms of systemic issues like unfair taxation and lack of social support
- However, the fundamental cause of poverty boils down to habits learned in childhood
- The transformative power of mindset
- The importance of self-awareness and positivity in breaking free from a victim mentality
- How long-term goals and uplifting influences can change life trajectories
- Critical habits that set the wealthy apart, such as daily reading and "dream setting"
- Practical strategies for breaking the cycle of poverty
- Engaging with nonprofits and seeking mentors
- The impact of daily reading for education
- 88% of wealthy individuals read at least 30 minutes each day
- The significance of maintaining good habits and controlling one's life, especially in financial management and property investment
- Engaging with nonprofits and seeking mentors
- Experts discuss poverty in terms of systemic issues like unfair taxation and lack of social support
This episode is a must-listen for anyone seeking to improve their financial situation or build wealth.
Hopefully, our conversation gave you a deeper understanding of the habits and mindsets that can unlock your wealth potential.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get your copy of Rich Habits, Poor Habits here- www.RichHabitsPoorHabits.com
Some of our favourite quotes from the show:
“So your inside world affects the outside world, but I've found a lot of poor people feel like a victim.”—Michael Yardney
“I think a lot of the poor people are living for the here and now. They actually don't have a long-term focus.” — Michael Yardney
“Why are you taking life so seriously anyway? Why are you worrying about all those things? Because, remember, most of the things we worry about never happen.” — Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.