It’s a common belief that becoming rich requires more than a little bit of luck.
But is this true?
Or is it just that those who are not that rich find it easier to believe that those who’ve made it are luckier than they are talented?
My reading suggests that luck, whether random or self-made is a common denominator of wealthy people.
In today’s episode, Tom Corley and I will talk more about this.
But part of the conclusion really is that if you want to be rich, you do need a bit of luck.
And while you don’t have control over the circumstances of your birth, you do have some control over the circumstances you manufacture after that.
As Tom Corley says, the rich are in the business of manufacturing luck.
There are actually four paths to wealth:
- The saver/investor path
- The big company/climber path
- The virtuoso/expert path
- The dreamer/entrepreneur path.
You can be on more than one path. And you can choose which path or paths are right for you.
Three of the paths to wealth involve creating your own luck.
The rich create their own luck, and it’s different from other types of luck.
The rich put themselves in the right places at the right times
- Random Good Luck
- Random Bad Luck
- Opportunity Good Luck
- Detrimental Bad Luck
No one has control over random good luck and random bad luck.
Opportunity good luck is the type of good luck that the wealthy create.
They do certain things every day that create the opportunity for good luck to occur in their lives.
We call these things Rich Habits.
The Rich Habits are various habits that self-made millionaires either learned from a parent, mentor or through the school of hard knocks.
Detrimental bad luck is a type of bad luck most of the non-rich create.
They do certain things every day that manifest this bad luck.
We call these things Poor Habits.
These Poor Habits are picked up at home, from parents, from friends in the neighbourhood or by following the wrong people.
Because many of the Rich Habits are Keystone Habits, adopting just one can help you automatically eliminate two or more Poor Habits, which are overwhelmed by each Rich Habit you forge.
As you adopt more Rich Habits, those good habits will eventually create the opportunity for good luck to occur in your life.
Rich Habits are like little miracle workers.
They not only help improve your life, but they also help change your luck.
Get your own copy of our international bestseller Rich Habits Poor Habits
Join Michael Yardney and Tom Corley at Wealth Retreat 2020 – click here and register your interest
“Finding luck requires you to step outside your comfort zone.” – Michael Yardney
“Remember, courage is not the absence of fear, but it’s the ongoing pursuit of something while you’re still worried.” – Michael Yardney
“I’ve found that luck finds positive people, people who seek out opportunity.” – Michael Yardney
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.