Concentration vs. Diversification


The wealthy, successful people in my study all had one thing in common: they all focused their concentration on one single earning activity. They eventually became exceptional in that one activity by continuously improving their skills and increasing their knowledge in that one activity. In no case were any of the wealthy engaged in multiple earning activities. As one individual put it: “If I try to do five things to earn money, I will lose money in all five things. So I focus on doing one thing great.”

Another thing they all had in common was reinvesting the money they “earned” from that one activity into passive activities. This could be stocks, bonds, annuities, real estate, lending or investing money in business ventures/opportunities, or any number of things. These passive activities kicked off unearned income; income they did not have to work for. For many of those in my study who were in their early 60’s, this unearned income exceeded their earned income.


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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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