Parents Raise Children; Mentors Raise Millionaires

Parents serve a very important, basic function in society. They turn children into functioning adults. This is a very important function. Without it society would collapse. But if you want more for your children it requires that you become more than a parent. You must become their mentor. Quite frankly, the best parents are mentors to their children. They mentor their children to be more than functioning adults; they raise their children to be exceptional. They raise their children to be millionaires.There is no exception to this rule. Take a look at any millionaire and you will find at least one parent who instilled in their children exceptionalism.

Warren Buffet

Many probably don’t know that Warren Buffet’s father was a stock broker. It’s no accident that Buffet became the world’s best known value investor. He was mentored by his dad.

The Kennedy’s

Many may not realize that father, Joseph Kennedy was a very successful politician who mentored sons JFK, Bobby Kennedy and Teddy Kennedy.

Ken Griffey, Jr.

Many probably don’t know that Ken Griffey Jr., arguably the most talented baseball player ever, was mentored by his professional baseball player-dad, Ken Griffey (NY Yankees).

Bill Belichick

Many probably don’t know that Bill Belichick’s father was a football coach for Navy for 33 years. At age three Bill could be found on the knee of his father watching film of Navy football players. Bill was mentored by his dad.

The stories of parents who raised successful, millionaire children all have one thing in common: Mentorship. It was not an accident that their children excelled in life. They were mentored by one or more of their parents to be successful. For most, parents are the only shot any of us have at having a mentor in life. Mentor-parents do more than simply raise us to survive as adults.They regularly and actively participate in our success by teaching us what to do and what not to do. They share with us valuable life lessons they learned either from their own parents, a life mentor or from the school of hard knocks.

In my five-year study of the daily habits of the wealthy and the poor I uncovered secrets to success that rise to the level of Holy Grail-type stuff. For example, only 24% of the wealthy in my study were fortunate enough to have had someone mentor them in their lives. Of this 24%, however, 93% attributed their enormous wealth to their mentors. The average net liquid wealth of the 233 rich people in my research was $4.3 million. If you do the math, finding a mentor in life is like someone depositing $4.3 million into your bank account.

Imagine if every parent decided to become a mentor to their children. Being a mentor means to instill in your children Rich Habits and to teach them to avoid Poverty Habits. What a very different world it would be. The fact is, parents do the best they can. There is no book on parenting. Parents learn what they learn from their parents. They pass this learning on to their own children. It’s generational. If parents really want their children to be better than themselves, to do better than themselves, to make more money they they made, they must become success mentors. Parenting is simply just not enough.

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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