Luck’s Impact on Success and Failure


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Luck, good or bad, results in success or failure. In my five year study of the habits of the rich and poor (Rich Habits Study), I discovered that luck plays an important role, a critical role, in determining success or failure. In fact, 87% of the rich in my study admitted that good luck, or unexpected good consequences, made it possible for them to amass their enormous wealth. Conversely, 54% of the poor admitted that bad luck, or unexpected bad consequences, forced them into poverty.

But there’s more to the story. The luck that helped forge a life of success for the wealthy was a unique type of luck I have come to call Opportunity Luck. Successful people do certain specific things every day, oftentimes for years, that gives birth to this Opportunity Luck. What I’m talking about is the principle of Cause and Effect. Successful people create the opportunity for good luck by doing certain good things every day, for many years (the cause) and good luck follows (the effect). Good habits, I discovered from my research, are the cause and Opportunity Luck is the effect. This Opportunity Luck is typically something unexpectedly good that occurs while the wealthy are in pursuit of their dreams and goals. Because they go all in and pursue success every day by forging specific good goal habits, eventually they get lucky. Even a blind squirrel can find an acorn if it’s persistent enough. So too with successful people, I found. Persistence, in the application of good daily habits, eventually results in good luck. The key is the persistent application of these good habits. Persistent good habits, or what I call Rich Habits, sets the stage for good luck.

Conversely, poor people create something I have come to call Detrimental Luck. This is another cause and effect type of luck that is the result of doing certain bad things every day, for many years (the cause), and these bad things result in bad luck (the effect). Persistence, in the application of bad daily habits, eventually results in bad luck. The key is the persistent application of these bad habits. Persistent bad habits, or what I call Poor Habits, sets the stage for bad luck.

If you want to change your luck you need to change your daily habits. Rich Habits foster Opportunity Luck and Poor Habits foster Detrimental Luck. Change your habits and you change your luck, which changes your 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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  1. People often use the term luck and randomness interchangeably. I like to think of randomness operating at a system level and luck at an individual level. If I gather 100 people and ask them to call coin tosses, randomness tells me that a handful may call five correctly in a row. If you happen to be one of those five, you’re lucky.

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