How can you convert poor habits into rich habits? Tom Corley discusses strategies and techniques on the Dawn Show.
Learn about the keys to success and a happy future!
Tip o’ the Morning to Ya – Not Every Thought Should be Spoken
January 8, 2014 by Leave a Comment
Rich Habits Word of the Day
Circumspection – Cautious. His circumspection in communicating his thoughts was considered by many one of his finest traits.
Rich Habits Fact of the Day
George Washington was a man who was very passionate but tried not to let his passions show. In this sense he was seen as a quiet man.
George Washington was not cocky in an outward sense. He was rarely loud but he had a notorious temper that he constantly tried to keep in check.
Rich Habit Lesson of the Day
Just because you have a thought does not mean it has to come out of your mouth. According to my five-year study on the daily habits of the rich and poor, 69% of the poor acknowledged that they make it a habit to say what’s on their mind. Conversely, 94% of the wealthy do not have this habit. Why such a disparity? The wealthy understand that saying what’s on your mind is a Poverty Habit. It can destroy relationships, negatively affect business and cost you money. If you want to be successful in life you need to watch the words that come out of your mouth.
Tip o’ the Morning to Ya – Baby Step Your Way to Success
January 6, 2014 by 2 Comments
Rich Habits Word of the Day
Impulsion – Aim, objective. His impulsion was to help individuals achieve their goals by committing to taking small steps every day.
Rich Habits Fact of the Day
“I always knew I’d be a millionaire by age thirty-two,” said Oprah in 1987. “In fact, I am going to be the richest black woman in America.” 19 years later, with a net worth of $1.4 billion, Oprah has become not only the richest black woman in America, but also one of the richest people in the world. She ranks 235 on the Forbes 400 Richest Americans list and almost 30 million American houses tune in to her show daily to hear her talk about everything from relationship problems to business investments to human rights abuses around the world.
This success has not come by chance. Oprah has made her fortune by setting clear and ambitious goals on both the professional and personal levels. “The big secret in life is that there is no big secret,” she says. “Whatever your goal, you can get there if you’re willing to work.”
According to Oprah, the biggest hurdle people need to overcome in order to be successful is their belief that there are limits to how much they can accomplish. Goals need to be set and set high; expectations need to be limitless; and ambition cannot be restrained. “If you believe you can only go so far, it is an obstacle.”
Rich Habit Lesson of the Day
It is the little things, done every day, that create success in life. Define one big wish for the year and then break it down into achievable goals. Start with an annual goal to move you closer to realizing your wish and then break that annual goal down into monthly goals and then daily goals. Set one daily goal a day and get it done first thing in the morning. That will help you create momentum for the day and build your confidence. Do this every day for just one month and you will be surprised how your confidence will soar and it will help you build momentum for the following month.
Savings Advice for Children
January 6, 2014 by Leave a Comment
Discover some rules of thumb for teaching children to manage their money.
Tip o’ the Morning to Ya – Good Day to Make a Tombstone Wish
January 3, 2014 by Leave a Comment
Rich Habits Word of the Day
Yearning – Aspiration, dream. Tom’s aspiration to share the Rich Habits with the world in order to end poverty was his Tombstone Dream.
Rich Habits Fact of the Day
Robert Edwin Peary – First person to reach the North Pole in 1909.
Roald Amundsen – First person to reach the South Pole in 1911.
Rich Habit Lesson of the Day
With the New Year here it is a good time to dream and define your Tombstone Wish. Use the Five Year Letter I taught about yesterday to help you do this. What is your Tombstone Wish? Your Tombstone Wish should be that singular dream that comes true for you in the next five years. This Tombstone Wish will allow you to live the life of your dreams. It will take you to an entirely new level. It is your major accomplishment in life that you could put on your tombstone. It defines your life. It will completely change your financial condition in life and bring you wealth and success. Once you have defined your Tombstone Wish, the next step is to establish those small goals that will help you realize your Tombstone Wish. Break your Tombstone Wish down into annual goals and then break your annual goals down into monthly goals and then break your monthly goals down into daily goals. The daily goals will be the actions you need to take on a daily basis in order for your Tombstone Wish to come true. Think of the daily goals as the baby action steps required to accomplish your months goals and then your annual goals. It’s a new year. It’s a good time to create the new you!
Tip o’ the Morning to Ya – Re-Write Your Life’s Script Today
January 2, 2014 by 1 Comment
Rich Habits Word of the Day
Transmutation – To change. Tom’s transmutation, since adopting the five-year letter strategy, was nothing short of miraculous.
Rich Habits Fact of the Day
Bill Gates: Gates didn’t seem like a shoe-in for success after dropping out of Harvard and starting a failed first business with Microsoft co-founder Paul Allen called Traf-O-Data. While this early idea didn’t work, Gates’ later work did, creating the global empire that is Microsoft.
Rich Habit Lesson of the Day
What do you want your life to look like in 5 years, 10 years or 20 years? One strategy that I learned during this Rich Habits journey I’ve been on the past 9 years is the use of the five-year letter. I learned it from my publicist, Lauri Flaquer (http://www.successwithsaltar.com) who is part of the outstanding Canfield Train the Trainer Program (https://jackcanfield.com/train-trainer-2014-now-accepting-applications-2/). It’s a letter you write to yourself but the date of the letter is five years from today. In the letter, you describe what your life is like five years from now. Specificity is key. Describe in your letter where you live, what kind of house you live in, what car you drive, what you do for a living, how much money you make etc. You describe what you’ve done the past five years; the goals you’ve accomplished and the dreams that have come true. It is essentially, a blueprint for your future life. It’s a fun exercise and you will find yourself getting excited and feel your thought process change to one that is upbeat, positive and optimistic. I incorporated this letter into my Daily Mind Routine and I read my five-year letter every morning on my commute to work. It help’s shift your thinking for the day from negative to positive; from bad to good; from sad to happy. With the new year here try it out. You will be surprised by the results. Before I created my five-year letter my book, Rich Habits, was languishing at 35,000+ on Amazon. With the help of this five-year letter my book shot up to #1 on Amazon and it’s been in the top 100 of finance books on and off since July 2013. If you want to change your life it begins by changing your thinking.
Preparing for Your Child’s First Year of College
January 2, 2014 by Leave a Comment
Now that your oldest child is graduating high school, it’s time to shift gears and plan for their first year of college. What main things should you be preparing for?
Checking Account
Many colleges have an affiliation with a specific Credit Union or Bank. The campus ATMs may be restricted to the Credit Union or Bank or may charge a fee if money is withdrawn from another bank account. Reach out to Student Services or some similar group at the school to get more information on campus banking.
Credit Cards
Set limits on credit card spend if you are concerned that your child may abuse the credit card. These limits also help you child learn how to manage their spending.
Barnes and Noble
Some schools have Barnes and Noble running their bookstores. If the parents have American Express credit card reward dollars, these can be cashed in for Barnes and Noble gift cards, which can then be used to purchase course books at the book store. You may even be able to use the gift card to purchase supplies. Call the school to find out.
Summer Jobs
Parents should make sure their soon to be college students make as much money as possible over the summer so they can have money for the college year. There are many extracurricular activities in college and most cost money. Fraternities and Sororities can be very expensive. As much as $3,000 for the year.
FAFSA
You can complete the FAFSA for you and your child as early as January of the new year. You have until June to complete your FAFSA for the upcoming school year. The Financial Aid Department at the college will use the information on the FAFSA to assist them in determining how much financial aid our child is eligible for.
Tip o’ the Morning to Ya – Today’s a Good Day to Write Your Obituary
December 31, 2013 by Leave a Comment
Rich Habits Word of the Day
Eulogy – Tribute. Tom wrote his own eulogy thirty years before his death as a way of helping him reinvent himself.
Rich Habits Fact of the Day
Why Did 3% of Harvard MBAs Make Ten Times as Much as the Other 97% Combined?
In 1979, interviewers asked new graduates from the Harvard’s MBA Program and found that :
- 84% had no specific goals at all
- 13% had goals but they were not committed to paper
- 3% had clear, written goals and plans to accomplish them
In 1989, the interviewers again interviewed the graduates of that class. Here’s what they found:
- The 13% of the class who had goals were earning, on average, twice as much as the 84 percent who had no goals at all.
- Even more staggering – the three percent who had clear, written goals were earning, on average, ten times as much as the other 97 percent put together.
Rich Habit Lesson of the Day
With the new year just a day away, many around the world are focusing on resolutions for the new year. Before you pencil in your first resolution you might want to take a stab at writing your obituary. This exercise forces you to evaluate your current life and gives you an opportunity to re-write your script for the future. What would you like your perfect obituary to say? How would you like the world to remember you? Include all of the things you would like to accomplish in your life. Don’t skimp. List all of the Big Ass Dreams you realized in your life. Your obituary should make you in awe of yourself. Really lay it on. Let it pour forth your greatness and success and paint a picture of the person you would like to be. Let this obituary become the business plan of your life; your future you.
Tip o’ the Morning to Ya – Goals Bring Clarity
December 26, 2013 by Leave a Comment
Rich Habits Word of the Day
Clarity – Certainty, clearness. Tom had a clarity about his life and where he was going.
Rich Habits Fact of the Day
On May 25, 1961 John F. Kennedy made his famous “Decision to Go to the Moon” speech before the Joint Session in Congress:
“First, I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth. No single space project in this period will be more impressive to mankind, or more important for the long-range exploration of space; and none will be so difficult or expensive to accomplish. We propose to accelerate the development of the appropriate lunar space craft. We propose to develop alternate liquid and solid fuel boosters, much larger than any now being developed, until certain which is superior. We propose additional funds for other engine development and for unmanned explorations–explorations which are particularly important for one purpose which this nation will never overlook: the survival of the man who first makes this daring flight. But in a very real sense, it will not be one man going to the moon–if we make this judgment affirmatively, it will be an entire nation. For all of us must work to put him there.”
Rich Habit Lesson of the Day
Goals help us to focus on accomplishing our dreams. 70% of the wealthy in my study set long-term goals. Goals help bring clarity to what we are trying to accomplish in life. Goals work like a magnifying glass works in focusing the sunlight. Goals help focus our activities. Activities which are time wasters and do not get us closer to our goal become obvious, only when we set goals. The 80/20 Rule applies to goal-setting. 20% of our activities are responsible for 80% of goal achievement. The rest of our activities are time wasters. Only when we set clear, well-defined goals will we begin to see which activities get us closer to our goal and which do not.
Tip o’ the Morning to Ya – Discover Your “Why” & the “How” Will Appear
December 24, 2013 by Leave a Comment
Rich Habits Word of the Day
Sortie – Mission. A sortie is a commonly used to refer to a guided missile. Long-term goals are life’s sorties.
Rich Habits Fact of the Day
70% of the wealthy in my Rich Habits study have identified at least one long-term goal to pursue in life.
Rich Habit Lesson of the Day
Finding your “Why” in life (Purpose) requires that you identify that one thing you are most passionate about in life. Once you find your “Why” the “How” magically appears. Never worry about the “How”. Only focus on finding your main purpose in life. Finding your passion in life is the key to starting your success engine. Once you figure out your passion, your main purpose in life will be revealed to you and everything else starts to fall into place. You can find your passion in life by identifying what it is that brought you happiness in life.
This is not some mystical, spiritual law. But it is how your subconscious mind works. Your subconscious relentlessly pursues and brings into your life those things that you think about constantly. When you find your passion in life that means you have found your main purpose in life. You begin to think about your purpose constantly and your subconscious magically comes to life. It is like a GPS computer, constantly looking for things to help you make your main purpose a reality. Every brain is really two brains: the conscious and the subconscious. More than 80% of our brain is made up of our subconscious. Brain experts are only just beginning to realize the incredible potentials of the subconscious. It is all knowing and very powerful. It records every experience, every memory and every fact in life. It also has some powers we don’t yet understand. For most, the subconscious is significantly underutilized; relegated to performing those autonomic functions that keep us alive (breathing, heart beat, fighting viruses and bacteria etc). But it is so much more. Those who discover their main purpose in life intentionally or inadvertently, kickstart their subconscious and life rewards them with riches and happiness. Many are labeled “geniuses” by society. If you want to do something great in life, be something great in life, you must find your “Why”.
