Rich Habits Blog

Tom Corley city_compressRich Habits is all about unlimited opportunity, achieving the American Dream and ending poverty.

It is the by-product of  a 5-year study I conducted on the daily habits of wealthy people and poor people.

Follow me on this blog and I will share with you many of the secret strategies that I uncovered in my research.

The discoveries I have made will dramatically improve your life!

Rich Habits Poor Habits Episode 21 | What does it take to be successful Part 1

What does it really take to be successful? What does it really take to be successful

Despite most people thinking that successful people just got lucky – the reality is it take much more than that.

Rich successful people have developed certain habits and beliefs that have guided them through their.

In Tom Corley’s five-year Rich Habits study of 233 rich people and 128 poor people he discovered that your beliefs dictate your circumstances in life.

The wealthy adopt certain beliefs that promote success.

In this week’s video we discuss 10 habits that successful people posses

These include:

  1. All success requires passion
  2. All success requires unrelenting persistence
  3. All success requires taking risks
  4. All success requires action
  5. All success requires hard work
  6. All success requires a team of apostles who believe in you and your dream
  7. All success requires continuous daily self-education
  8. All success requires a leap of faith
  9. All success requires patience
  10. All success requires good daily habits

You can catch up with past episodes of this weekly webcast here Rich Habit, Poor Habits – Tom Corley & Michael Yardney

You may also be interested in viewing:







How Intermittent Fasting Works

Tom Corley boats - crop

Have you ever heard of Intermittent Fasting?

I’ve been studying Intermittent Fasting since 2007. That’s when I discovered that 30% of the self-made millionaires in my study used it to stay lean (thin).

What is Intermittent Fasting? [Read more…]

God’s Greatest Gift


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There once was a woman who was miserable with her life. She hated her low-paying, high stress job, yet worried every night about losing it. She and her husband were falling behind on their bills and their credit card debt kept growing. They constantly fought with each over their money problems. Her husband began coming home later and later every night. She suspected he might be cheating on her.

She was beside herself. In desperation, one night she dropped to her knees and began to pray. She continued praying for several months, every night begging God to fix her money problems and make her happy. Then, one night, God appeared to her in her bedroom.

“I am very sorry to see you unhappy, my child. What can I do to help?”

The woman thought long and hard. “Please, dear God, help turn my life around. I want to stop fighting with my husband and I want all of my money problems to go away. I want to finally be in control of my life.”

God thought for a minute, then said, “I will give you a gift. It is my greatest gift. This gift has the power to completely transform your life. Do you accept my gift?”

“Yes, yes I do. I do accept your gift. Please give me your greatest gift so that I can transform my life.”

With that, God bowed his head and said, “my greatest gift is bestowed upon you, my child.”

God slowly faded away and then, vanished into the night.

[Read more…]

Rich Habits Poor Habits Episode 18 | Fearless habits of Entrepreneurs

What is an entrepreneur? risk_decision_uncertain_fear_1000px

On the surface these are wealthy and successful people – but there’s much more to them than that.

Entrepreneurs posses beliefs that are a great part of their success – they take risks and they are fearless.

Beliefs represent the acceptance of something without any proof to back up what we accept as fact.

In Tom Corley’s five-year Rich Habits study of 233 rich people and 128 poor people he discovered that your beliefs dictate your circumstances in life.

Those who are wealthy have different beliefs than those who are poor or stuck in the middle class.

We adopt the beliefs our parent, family, mentors, culture, and environment.

Most who were raised in poverty inherited limiting beliefs that hold them back in life.

Those who are able to rise from poverty and become wealthy found mentors who possessed success beliefs or employed certain strategies that enabled them to remove their limiting beliefs and implant success beliefs, effectively re-programming their entire belief system.

In this week’s video we discuss 5 key habits of Entrepreneurs:

These include:

  1. Prepare Educated and calculated risks
  2. Pivoting according to the situation
  3. Keeping eye on the ball -focusing on the dreams
  4. Surrounding themselves with successful people
  5. Expecting failure

You can catch up with past episodes of this weekly webcast here Rich Habit, Poor Habits – Tom Corley & Michael Yardney

You may also be interested in viewing:







Raising Money Smart Kids Just Isn’t a Priority at Home or in School

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When I travel the country speaking to high school and college students about exactly what they need to do to become financially successful in life, I always begin my presentation by asking three questions:

“How many want to be financially successful in life?”

“How many think they will be financially successful in life?”

Almost every time I ask the first two questions every hand rises in the air. Then I ask the magic third question:

“How many have taken a course on how to be financially successful in life?”

Not one hand rises in the air, ever. Clearly every student wants to be successful and thinks they will be successful but none have been taught by their parents or their school system how to be financially successful in life. Not only are there no courses on basic financial success principles but there are no structured courses teaching basic financial literacy. We are raising our children to be financially illiterate and to fail in life.

Is it any wonder that most Americans live paycheck to paycheck? That most Americans accumulate more debt than assets? That many Americans lose their homes when they lose their job? Is it any wonder that most Americans cannot afford college for their children and that student loan debt is now the largest type of consumer debt?

Parents are often the only shot any of us have at having financial success mentors in life. Parents are responsible for laying the foundation for financial success with their kids. They need to be financial success mentors to their kids.

When parents mentor their kids for financial success, they give their kids a competitive advantage. Why? Because most parents don’t teach their children about money. By the time their kids become adults, and figure out what to do and what not to do, they are already behind the eight ball.

Parents, therefore are the key to the financial success of their children. In my book Rich Kids, I share many mentoring strategies that help parents in raising their kids to succeed in life financially. Here are a few of those strategies: [Read more…]

Rich Habits, Poor Habits Episode 34 | Positive mind, Abundant life

It is impossible to become rich with a negative mindset.Confused mind think thought

Negativity puts the brakes on success and wealth accumulation.

It acts like an anchor, dragging you down into the abyss of poverty and poor health.

It is virtually impossible to become wealthy without a positive mental outlook.


Tom Corley accumulated a treasure trove of studies on the benefits of positivity.

Let’s take a look at a few of those studies:

Positivity Strengthens Your Immune System

Researchers at Harvard Health found that having an optimistic attitude reduces blood pressure, prevents heart disease and increases your immune system’s ability to fight off diseases, viruses and parasites.

As one self-made millionaire from my study told me, “you can’t make money from a hospital bed”.

Good health is critical to success because without it, success is impossible.

So, good health at least gives you the ability to pursue wealth.

Positivity Increases Focus and Risk Tolerance 



B. L. Fredrickson (1998/2001 Broaden and Build Theory) found that positive emotions increase your concentration abilities and increase your risk tolerance.

According to my Rich Habits study data, focus and risk tolerance were two common traits all self-made millionaires had.

The self-made millionaires in my study had a laser-like focus.

They were able to focus on their dreams and goals for years and even decades.

Also, these same millionaires pursued dreams and goals that required that they take enormous financial risks.

If you have a negative mindset you will avoid risk because you believe you will fail.

Those with a  positive mindset are able to take risks because they believe they will succeed.

Positivity increases Your Earnings

Diener, Nickerson, Lucas and Sandvik (2002) found that those with a positive mindset had higher incomes than those with a negative mindset.

People want to do business with people they like and those with an optimistic mindset are more likable.

Positivity Doubles Brain Powerlight bulb

In one study on negativity, two neurologists found that when you have a negative mindset your prefrontal cortex is not functioning properly.

The prefrontal cortex is the seat of decision making and creativity.

When you are negative, you literally shut down half of your brain.

Positivity Increases Life Span

Moskowitz (2003), Ostir, Markides, Black and Goodwin (2000) found that those with a positive mindset lived longer than those with a negative mindset.

Positivity Increases Life Span

Union College Psychlogy Professors Joshua Hart and Christopher Chabris found that success was correlated to individuals with a positive mindset.



Make Your Company Want to Give You More Money

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I’d like to dispel a common myth – not every self-made millionaire is an entrepreneur or business owner. Many of them made their millions working for someone else.

Thirty-nine percent of the self-made millionaires in my Rich Habits Study became rich working for some employer. Typically, these employers were large, multi-national corporations whose stock was listed on some stock exchange.

In my research, I discovered that these self-made millionaire-employees were always the first in line for raises, bonuses and promotions. Here’s why: [Read more…]

Rich Habits Poor Habits Episode 33 | 7 Shocking Differences Between Habits of Men and Women

Forty percent of the time you are on

And habits, are the reason you live on the beach in a big house or in a slum in the inner city.

Habits are why you’re able to send your kids to the best private schools or must settle for public schools.

Habits dictate your financial circumstances in life and your happiness or unhappiness.

In Tom Corley’s five-year Rich Habits study of 233 rich people and 128 poor people he discovered that certain habits that separate men and women.

Here’s a sampling of 7 major habit differences from his research:

1. Gambling

Women gamble less than men.

Not only do fewer women gamble, but for the women who do gamble, they gamble less frequently.

2. Risk Tolerance 


 Men have a higher risk tolerance than women.Men are by nature hardwired to be more aggressive than women.

This aggressive nature gives men a higher risk threshold.

This is a good thing and a bad thing.

A low risk tolerance is a good thing when it comes to making big purchasing decisions.

Women are more apt to study the details of a major purchase than men.

The devil is always in the details, so understanding the details can save you from making a big purchasing mistake.

3. Reading

Women read more than men.

That’s the good news.

The bad news is that women read more for entertainment.

Men, conversely, read more for learning and self-improvement.

4. Communication 

Women are better communicators than men.

In fact, the average woman speaks 7,000 words a day compared to 2,000 for men.

Good communication is a Rich Habitman-791049_1920

. Miscommunication damages relationships, businesses, negotiations and can lead to mistakes and failure.

Because women are better communicators, they are better at seeking feedback.

Feedback is critical to understanding what to do and what not to do.

Good feedback minimizes mistakes and reduces the probability of failure.

5. Creativity

Men are more creative than women.

This is physiological.

Men have a smaller corpus collosum.

The corpus collosom is the bundle of neural never fibers that separates the right hemisphere of the brain from the

Recent studies on creativity have shown that those with a smaller corpus collosum are hardwired for greater creativity.

6. Organizational Skills 

Women have greater organizational skills than men.

Because they pay more attention to details and are more cautious by nature, they tend to do more planning.

This makes them better organized when it comes to facts then men.

7. Money 

Women are better at saving money.

They are more cautious with their money.

They comparison shop to get the best deals.

They look for discounts.



Rich Habits Poor Habits Episode 32 | 4 Tricks to Forging New Habits

Good habits put you on autopilot for success. 

success risk wealth

When actions become habits, the need for motivation (external or internal) is eliminated.

You don’t need to pump yourself up to engage in a habit.

This is one of the main things that separates successful individuals from everyone else – successful people habitualize good behavior.

So, fine, but how do you actually forge a new good habit?

There are 4 tricks to forging habits:

1. Change Your Trigger

Your doctor tells you that if you want to prevent urinary track infections you must drink at least two glasses of water every day.

Wealth Retreat 2017 - Tom Corley

But you find it difficult to turn that into a habit.

You keep forgetting to drink water.

One of the shortcuts to habit change is to find an existing habit you have, good or bad, and add a new habit to it.

What other habits do you have?

List them.

One habit on your list is coffee.

Every day you drink two cups of coffee.

To forge the new habit of drinking water, simply put your coffee cup next to the sink, your water filter or the water cooler.

When you go searching for the coffee cup you will have to remember where you put it. Ah yes, by the water cooler. That coffee cup then becomes your new trigger. It will remind you to drink a glass of water.

2. Start Smallinspiration idea mindset

New habits are hard to forge.

The trick is to make the new habit so easy to perform that you will not require any willpower to get you started.

The brain does not like new habits because new habits, in the very beginning, require conscious effort.

Any conscious thinking requires the use of brain fuel (primarily oxygen and glucose).

The brain is unable to store oxygen and glucose, so it must send a message to the peripheral nervous system, which then notifies the liver to produce more glucose.

This is a pain in the neck for the brain.

So, instead, it sends back a message to you that essentially says – don’t engage in the data success

If the activity requires very little brain fuel, however, the brain will not fight you on the activity.

It doesn’t send the message – don’t engage in the activity.

As an example, let’s say that you want to begin jogging so you can lose weight and be healthy.

If you decide to run for, say 30 minutes, the brain will tell you not to.

If, however, you commit to only 10 minutes, the brain will not put up a fight.

After a few weeks of running for 10 minutes every day, the jogging habit begins to form.

Once that habit takes root, that is when you can increase the jog to 15 minutes, then 20 minutes and eventually 30 minutes.

3. Create Reminders

Most of us have computers and cell phones that have reminder systems that automatically remind you about something.

A trick to help you forge a new habit is to put it on one of your reminder systems.

Once you set the reminder task, it will go off and remind you to engage in the habit.

4. Associate With Others Who Have Your Desired Habit puzzle team

Habits are like a virus.

We adopt the habits of those within our inner social circle.

Find friends who have the habit you want to adopt, such as jogging, and ask them if you can run with them.

You new running partner will become your accountability partner.

You asked them to run with you, they said yes and now you find yourself committed to jogging with your friend.



Raising Young Adult Children to be Financial Juggernauts

Tom Corley boats - crop

According to a study by Brown University habit study by Dr. Pressman, we pick up most of our habits from our parents. If parents are bad at managing money, their kids will be bad at managing money. When you’re bad at managing money it has a tendency to disappear. That means no savings, no retirement assets, runaway debt and a life filled with financial worries.

No parent wants their kids to grow up to struggle financially as adults. Yet, since most people do struggle financially, its clear parents have been and are failing to be financial success mentors to their kids.

Well, let’s put an end to this generational parenting malpractice.

In my award winning and bestselling book Rich Kids, I share many parent mentoring success strategies that help parents in raising their kids to succeed in life financially. Here are a few of those strategies: [Read more…]