5 Habits Top Parents Teach Their Kids

Parents who mentor their kids by teaching them good daily success habits, set their kids up to achieve far more than 95% of their peers and go on to achieve great success in life. In my study of the daily habits of the rich and the poor I uncovered certain success habits that the wealthy learned from their parents as children. Many of these wealthy were raised in poor households. It didn’t matter. Poverty did not dictate their circumstances in life because their poor parents passed along to them certain habits that enabled them to change their circumstances and become wealthy and successful adults. Here are five of the key daily success habits they learned from their parents:

  1. Engage in Daily Self-Education – 88% of the wealthy in my study were taught this habit primarily by their parents. 98% of the poor in my study were never taught this daily habit by their parents. As a result they stayed poor well into their adult years. You don’t need an Ivy League education in order to gain the knowledge that will raise you out of poverty and help you achieve great success in life. What you do need is to read every day and learn every day. Children who were raised in homes where daily educational reading was mandatory, went on to become wealthy and successful. Some in my study even maintained a Fact Binder, with various topic dividers, in which they wrote down the new facts they learned every day. At the end of the week they’d review the Fact Binder, in order to reinforce the learning. If you want your kids to get a leg up on their peers, mentor your kids by having them read to learn every day.
  2. Build Rich Relationships – The wealthy in my study surrounded themselves with other successful people. 78% of the people they surrounded themselves with were other successful, like-minded people. 83% of the relationships of poor people are with other poor people. Where do you find these Rich Relationships? You find them on boards or committees of non-profits, charities, civic groups and local community groups.  72% of the wealthy, volunteer five or more hours each month. Only 12% of the poor in my study had this Rich Habit. Parents who want their children to develop relationships with other successful people have them volunteer for such organizations. The relationships your kids develop from volunteering will help open doors for your kids down the road. Such doors may lead to a valuable college scholarship or a job with a prestigious company.
  3. Work For Their Stuff – Parents of kids who grew up to become wealthy and successful, made their kids work for what they wanted. In today’s world that includes computers, cell phones, designer clothes, computer games etc. Having to work for what you want creates a work ethic and helps your kids understand the value of money.
  4. Save Until it Hurts – 94% of the wealthy in my study had the Rich Habit of saving 20% or more of their income and lived off the remaining 80%. It wasn’t a habit they picked up late in life. Most learned this Rich Habit from their parents very early in life. When you get into the habit of saving 20% of everything you make and living off the remaining 80%, you are forced to live below your means.
  5. Finding Your Main Purpose in Life – The wealthiest in my study pursued some big goal or lifelong dream. Parents who encourage their children to find their talents in life by pursing goals or dreams set their kids up for incredible success in life. Parents can help their kids to find their main purpose in life as follows:

Step #1 Have your kids make a list of everything that ever made them happy in life.

Step #2 Highlight those happiness events that involved a skill.

Step #3 In the second column score those highlighted happiness events that made your child the happiest, with one being the least happiest and ten being the happiest.

Step #4 In the third column score those highlighted happiness events which have the highest income potential, with one being the lowest and ten the highest.

Step #5 In the forth column add up the scores. The top three highest scores represent the things your child should pursue in life. They represent your child’s main purpose in life.

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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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