The Business of the Rich is Manufacturing Luck


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In my role as a CPA and CFP I have the honor of advising many clients in matters of personal finance, taxes, insurance and wealth creation. Some clients are wealthy but most are just getting by.

According to the IRS, only about 5% make enough money to be considered financially independent or wealthy. Ninety-five percent, therefore, are just getting by and have difficulty meeting their financial obligations in life.

When I am interviewed by the media, I am often asked the same question: “What do wealthy people do to become wealthy?” My response is – “They create their own good luck”.

But how can you create good luck?

Before I answer that question we need to understand luck. There are four types of luck:

  1. Random Good Luck
  2. Random  Bad Luck
  3. Opportunity Good Luck and
  4. Detrimental Bad Luck

Random Good Luck

This is a type of luck that no one has control over. It’s like winning the lottery, an inheritance from an old relative you didn’t even know you had or being born into a rich family.

Random Bad Luck

When people say they have no luck, they usually mean they have no good luck. The fact is, we all experience luck in our lives. Unfortunately, sometimes it’s random bad luck. Getting hit by lightening, your employer going bankrupt, being born with color blindness or growing up in Rwanda in the 1990s are all types of Random Bad Luck.

Opportunity Good Luck

This 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. I call these certain 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. They are habits that put the pursuit of success on autopilot. Each Rich Habit is like a snowflake falling on a mountainside. Over time, these snowflakes build up until one day you experience an avalanche of good luck. This might be a raise, promotion, bonus, new job, big client/customer, etc.

Detrimental Bad Luck

This is a type of bad luck most of the non-rich create.


They do certain things every day that manifest this bad luck. I call these certain things, Poor Habits. These Poor Habits are picked up at home, from parents, from friends in the neighborhood or by following the wrong people. Each Poor Habit is also like a snowflake on a mountainside. Over time, these snowflakes build up until you experience an avalanche of bad luck. This might be a heart attack, getting fired from your job, or bankruptcy.

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.

So, in a sense, when you adopt Rich Habits, it’s like hitting a double in baseball – not only do you help create Opportunity Good Luck, but you also help reduce Detrimental Bad luck, through the elimination of Poor Habits.

The Rich Habits are like little miracle workers. They not only help improve your life, they also help change your luck.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

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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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