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It is one of those fascinating and enduring curiosities: what makes the difference between living a life of wealth and a life of poverty. Is it all down to luck, or the accident of birth, or Fate? Can we do something about it? What could we learn and do to improve on our own personal circumstances?
Many people have researched in depth to come up with useful insights as to what factors can make or break your success. Tom Corley is such a person. He made a 5 year study of the daily activities of233 wealthy people and 128 people living in poverty and he reveals some key points in his No 1 bestselling book “Rich Habits- The Daily Success Habits of Wealthy Individuals”. In this book, he identifies over 200 daily activities that in his words, separate the “haves” from the “have nots”.
From his vantage point as a Certified Public Accountant and as an expert in taxation, he comes into contact with a number of wealthy people and has had the opportunity at first hand to familiarise himself in detail with different aspects of their lives as well as having access to facts and figures such as the Federal Reserve Survey of Consumer Finance.
For example, the top 5% of households in America control 60% of the nation’s wealth according to the Federal Reserve Survey of Consumer Finance. Yet this same 5% of households pays 57% of all income tax according the Tax Foundation.
Tom also noted that although this top 5% have more income, 67% were frugal in their lifestyle, 64% lived in a modest home 88% were savers and 94% of them balance their checkbook each month.
However, one key difference is that 80% pursued a major goal and 94% engaged in daily self-improvement.
Your DREAMS are important. Taking steps toward them brings happiness, fulfillment and apparently also goes along with becoming wealthy.
Keep your dreams bright and shiny and go for it.