Tip o’ the Morning to Ya – Poor People are Addicted to Reality T.V.

October 16, 2013 by Leave a Comment

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Rich Habits Word of the Day

Sedentary – Avoiding any physical or mental activity. Darden was so sedentary he would sit on his couch and watch reality T.V. 5 hours a day.

Rich Habits Fact of the Day

According to research conducted by eMarketer, the average adult spends 4 1/2 hours each day watching T.V.

Rich Habits Lesson of the Day

A recent Rich Habits Institute study revealed that poor people are addicted to reality T.V. In fact, 78% of the poor in the study watched reality T.V. Compare this to the wealthy, where only 6% watched reality T.V. The wealthy prefer reading to T.V. One wealthy individual in the study commented, “why would I waste my time watching other peoples lives when my life is much more interesting”.

Filed Under: Daily Success Tips

Tip o’ the Morning to Ya – Readers Make More Money

October 15, 2013 by Leave a Comment

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Rich Habits Word of the Day

Indolent – Averse to work, lazy. Tim chose not to read because he was indolent.

Rich Habits Fact of the Day

According to a number of studies, people who read at least seven career-related books a year earn 2.3 times more than those who read only one a year. Wealthy people understand that wealth follows reading. The more you read the more wealth you accumulate.

Rich Habits Lesson of the Day

The wealthy are nine times more likely to read than the poor based on a Rich Habits Institute Study. The wealthy read 30 minutes or more every day for self-improvement. Only 2% of the poor read 30 minutes or more each day for self-improvement. Those 2% don’t stay poor for long. Adding just one Rich Habit can change your life dramatically in as little as 30 days.

Filed Under: Daily Success Tips

TIP o’ the Morning to Ya – Reading is a Rich Habit

October 14, 2013 by Leave a Comment

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Rich Habits Word of the Day

Erudite – Scholarly, well-read

Rich Habits Fact of the Day

Abraham Lincoln’s formal education included one year as a child. Lincoln’s childhood education was conducted almost entirely by himself. According to the legend, the young backwoods farm boy educated himself by a determined program of nightly reading after the day’s work was done, systematically consuming all the books in the sparsely inhabited neighborhood where he grew up.

Rich Habits Lesson of the Day

There is a direct correlation between having a love or reading and wealth. 86% of the wealthy admitted to having a love of reading. Conversely, 74% of the poor admitted that they did not like reading and avoided it. Developing the daily habit of reading for self-improvement is a Rich Habit. Not reading every day for self-improvement is a Poverty Habit

Filed Under: Daily Success Tips

Rich Kids Have More Money …. and Get Better Grades – RHI Study

October 12, 2013 by 2 Comments

Based on a recent Rich Habits Institute study, 62% of children raised in a wealthy household were above average students. Compare this to poorer households, where only 26% had above average students. It gets even worse. Sadly, 74% of children raised in a poor household had grades below a B and 34% had grades below a C.

Why? Wealthy, successful parents teach their children certain success habits that give their children an edge in life. These Rich Habits, which give them this edge in life, begins to manifest itself in the classroom and continues into the workplace, where such children become working adults who receive higher pay, bigger raises and larger bonuses during their working career. As a consequence, they accumulate more wealth in life. Children of wealthy, successful parents pass along these Rich Habits to their own children. And so, the rich get richer.

Poor children never get the education in these Rich Habits at home and, in fact, learn specific habits that hold them back in life. The Poverty Habits they learn from their parents puts them behind the eight ball and this begins to manifest itself in the classroom and then continues into the workplace, where such children become working adults who receive lower pay, smaller wage increases and few, if any, bonuses. They eke out a living, living paycheck to paycheck, and accumulate more debt than wealth during their lives. Children born into poor households pass along to their own children these Poverty Habits. And so, the poor get poorer.

Politicians, pandering for votes from the poor and middle class, rail against the wealthy and this growing wealth gap without actually understanding the root cause. Instead of focusing their blame on poor parents for teaching Poverty Habits to their children, they shift the focus to income redistribution or increased spending as a solution. Because they are not offering the correct solution, despite all their legislative efforts, the wealth gap continues to grow and the poverty rate never goes down.

What is the solution to the wealth gap and income inequality?

Children living in poor or middle class households must learn the Rich Habits. These Rich Habits will help them get ahead in life. They must also learn about Poverty Habits. Poverty Habits hold them back in life, keeping them poor. Ideally this education should be the responsibility of parents, but in the absence of home mentoring, the education system must step in. Learning what to do and what not to do is the solution to income inequality and the wealth gap. Think of life as a seesaw. On one side of the seesaw are Rich Habits and on the other side are Poverty Habits. If you have more Rich Habits than Poverty Habits your seesaw tips in the direction of wealth. Conversely, more Poverty Habits tip the seesaw in the direction of poverty.

So what should poor parents be teaching their kids?

  • Reading for self-improvement 30 minutes each day
  • Exercising aerobically 30 minutes each day
  • Saving 20% or more of all monetary gifts or income received
  • Limiting junk food calories to 300 per day. Eating junk food is a poverty habit
  • Goal education – Setting and pursuing goals and understanding that a wish is not a goal. A goal is only a goal when it has 100% achievability and some physical action
  • Limiting T.V. and Internet use to 1 hour per day. T.V. and recreational Internet use are Poverty Habits
  • Volunteering 10 hours or more a month
  • Working 10 hours or more a month
  • Never gossip. Gossiping is a Poverty Habit
  • Calling people on their birthday
  • Calling people for life events(births, weddings, death in family etc.)
  • Never losing your temper. Anger is a Poverty Habit
  • Sending thank you cards
  • Not allowing every thought that enters your head to come out of your mouth. Saying what’s on your mind all the time is a Poverty Habit.
  • Thinking positive thoughts and avoiding all negative thoughts
  • Believing that you can be whatever you want to be and have whatever you want to have in life
  • Being grateful. Never envy. Envy is a Poverty Habit. We need to teach children to give thanks to at least one thing in their lives every day

In the study 93% of the wealthy who had mentors in life attributed the accumulation of their wealth to one or more mentors. Parents are the best shot any of us have at having a mentor in life. If we want our children to grow up to become successful in life, it starts with parents teaching the Rich Habits. Where parents fail to teach these Rich Habits, schools must step in as surrogate mentors. Success is a process. Failure is a process. Which process our children follow is the responsibility of parents or our education system and will dictate the direction in which their seesaw of life will tip.

Filed Under: Featured Articles

Tip o’ the Morning to Ya – To Do Lists

October 11, 2013 by Leave a Comment

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Rich Habits Word of the Day

Stratagem – Plan, scheme. His stratagem for each day was to create a to do list.

Rich Habits Fact of the Day

The Brooklyn Bridge looms majestically over New York City’s East River, linking the two boroughs of Manhattan and Brooklyn. Since 1883, its granite towers and steel cables have offered a safe and scenic passage to millions of commuters and tourists, trains and bicycles, pushcarts and cars. The bridge’s construction took 14 years, involved 600 workers and cost $15 million (more than $320 million in today’s dollars). At least two dozen people died in the process, including its original designer. Now more than 125 years old, this iconic feature of the New York City skyline still carries roughly 150,000 vehicles and pedestrians every day.


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

The Printing Press


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

Rich Habits Lesson of the Day

When is comes to planning their day and getting things accomplished the wealthy and the poor see and do things very differently.

Let’s take a look at the research:

  • 62% of the wealthy are focused on their goals every day vs. 6% for the poor
  • 67% of the wealthy put their goals in writing. 83% of the poor do not
  • 73% of the wealthy plan out their day vs. 3% for the poor
  • 81% of the wealthy, who do plan their day, maintain a daily to do list. Less than 1% of the poor use a daily to do list
Filed Under: Daily Success Tips

Tip o’ the Morning to Ya – Breaking Bad …. Habits

October 10, 2013 by Leave a Comment

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Rich Habits Word of the Day

Penchant – Habit, tendency. He had a penchant for doing his technical reading first thing in the morning.

Rich Habits Fact of the Day

Ambitious from the start, Andrew Carnegie studied bookkeeping at night. This gave him the skill he needed to get a better paying job, one with a higher income and better career prospects. That job was clerking in a local office. There too, he was not content merely to do a good job. He continued his nighttime studies and volunteered for every possible task at work – seizing every opportunity to take on new responsibilities.


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

The Printing Press


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

Rich Habits Lesson of the Day

Life is like a seesaw. On one side of the seesaw are your Poverty Habits and on the other side are your Rich Habits. If you have more Poverty Habits than Rich Habits you will be poor. If you have more Rich Habits than Poverty Habits you will be rich. Adding just two or three Rich Habits is all it takes to change your life and get your seesaw tipping in the right direction. You don’t need to worry about getting rid of any of your habits. Just add some good ones. The interesting thing is that Rich Habits are like dominoes. When you add a Rich Habit it changes your other habits. Adding Rich Habits actually makes it easier to eliminate your Poverty Habits.

Filed Under: Daily Success Tips

Tip o’ the Morning to Ya – Finding Your Main Purpose

October 9, 2013 by Leave a Comment

tip-o-the-morning

Rich Habits Word of the Day

Compulsion – Obsession, main purpose. Tom’s compulsion for sharing the Rich Habits has become his main purpose in life.

Rich Habits Fact of the Day

Steve Jobs was obsessed with designing a computer that any individual could use. He was obsessed about creating a memorable user experience. His obsession gave birth to the Apple Lisa, which as the first computer that used a graphic interface (icons). This obsession led to the creation of the Mac, the iPod and the iPad.


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

The Printing Press


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

Rich Habits Lesson of the Day

64% of wealthy people are, at any given time, obsessed with achieving some singular goal. Only 9% of the poor share this obsession.

Filed Under: Daily Success Tips

Tip o’ the Morning to Ya – Intuition and Wealth

October 8, 2013 by Leave a Comment

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Rich Habits Word of the Day

Intuition – Gut feeling, sixth sense. Mark’s intuition must not be very good because he is so poor.

Rich Habits Fact of the Day

Intuition is that little voice inside our heads that tells us to do things or warns us against doing things. Some call it a gut feeling. Decision makers ask if they can sleep on it and give an answer in the morning. We are told by experts in psychology, self help or neural linguistics programming to learn to trust that voice inside our head. To learn to listen to it.  The problem is, intuition does not work. It fails to help almost everybody. Oftentimes that little voice inside our heads is sending us off a cliff. Negativity, fear and envy, are like mini computer programs fed into our subconscious mind. The subconscious then goes about looking for ways to help us get more of the negative things we constantly think about. It starts whispering in our ears, advising us, guiding us in an effort to give us more of what we think about. When we are in a negative, ungrateful state that voice inside our head, our intuition, is telling us to do things that will keep us poor, worried and jealous of others. It is directing us toward unhappiness and failure. For poor people, intuition simply does not work to improve their lives and they should ignore that voice inside their head.

In order to get the voice inside our heads working properly, directing us towards happiness and success, we need to shift to a positive, grateful and optimistic mindset. Start by making a point to find something to be grateful for each day. Focus on that thing we are grateful for and try to feel the gratitude. Feeling locks it in. If we can’t feel it, our subconscious will not get that line of computer code. Once we feel the gratitude it’s like laying railroad tracks inside our brain. When we live in a grateful, optimistic, positive mental world the subconscious looks for ways to help us get more of what we are thinking about. It starts to whisper things in our ears that are directing us toward happiness and success. Then it’s time to listen.


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

The Printing Press


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

Rich Habits Lesson of the Day

Wealthy people are happier than poor people. Let’s look at the data:

Filed Under: Daily Success Tips

Tip o’ the Morning to Ya – Money & Happiness

October 7, 2013 by Leave a Comment

tip-o-the-morning

Rich Habits Word of the Day

Pecunious – Wealthy, well-to-do. The pecunious have certain daily habits that the poor are unaware of.

Rich Habits Fact of the Day

In 1974, University of Southern California economics professor Richard Easterlin proposed a theory that came to be known as the Easterlin Paradox. He posited that within a country, be it the United States or Sri Lanka, richer people were happier than poor people.


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

The Printing Press


Image: Jost Ammam

Before the introduction of printing all books were painstakingly hand-written. This time-consuming and highly-skilled process meant that books were extremely expensive and an unthinkable possession for many average people. Changing all this was a German goldsmith named Johannes Gutenberg, who in 1440 invented the printing press. His contraption would become one of the most influential inventions in the entirety of human history.

– See more at: https://www.globetask.com/time-management/10-greatest-time-saving-inventions-in-history/#sthash.0bEQwXUl.dpuf

Rich Habits Lesson of the Day

Wealthy people are happier than poor people. Let’s look at the data:

  • 82% of the wealthy are happy. 98% of the poor are unhappy
  • 87% of the wealthy are happy in their marriage. 53% of the poor are unhappy
  • 92% of the wealthy are happy because they are healthy. 22% of the poor are unhappy because of health issues
  • 95% of the wealthy are happy because their children are doing well in life. 24% of the poor are unhappy because their children are not doing well in life
  • 94% of the wealthy are happy because they like what they do for a living. 85% of the poor are unhappy because they do not like what they do for a living
  • 0% of the wealthy are unhappy due to finances vs. 98% for the poor
Filed Under: Daily Success Tips

Money Does Buy Happiness …. and a Stronger Marriage – Per RHI Study

October 6, 2013 by 1 Comment

You’ve no doubt heard the saying “money doesn’t buy happiness”. It’s very likely you heard it from your parents. Even more likely, the person who shared that message with you was probably poor or struggling financially in life. The problem with that message is it’s not true. Let’s look at the latest research data:

  • 82% of the wealthy are happy. 98% of the poor are unhappy
  • 87% of the wealthy are happy in their marriage. 53% of the poor are unhappy
  • 92% of the wealthy are happy because they are healthy. 22% of the poor are unhappy because of health issues
  • 95% of the wealthy are happy because their children are doing well in life. 24% of the poor are unhappy because their children are not doing well in life
  • 94% of the wealthy are happy because they like what they do for a living. 85% of the poor are unhappy because they do not like what they do for a living
  • 0% of the wealthy are unhappy due to finances vs. 98% for the poor

When you study these statistics you realize wealth affects so many aspects of your life. It creates unhappiness overall, unhappiness in your marriage, causes health issues and affects your children. Looking at the flip side of this, wealth creates an overall sense of happiness. 87% of the wealthy are happy in their marriages. Wealthy people are also clearly healthier and thus happier. Their children are doing well in life and that makes them happy.

So when someone says “money does not buy happiness”, they’re wrong. Your level of wealth determines your level of happiness. Wealth and poverty have a domino affect on all aspects of your life. If you improve your financial condition in life you increase happiness in all aspects of your life.

Let’s take a look at just one of those domino affects caused by poverty – poverty causes marital problems.  Various studies identify money problems as the leading cause of divorce in our country.  Researchers at Kansas State University surveyed 4,500 couples. They found fights about money are the biggest contributors to divorce. The Huffington Post even ran a piece on the correlation between poverty and divorce not too long ago. When it comes to marriage, money does buy marital bliss.

If you want to end your unhappiness in life you have to end your poverty. In my research I identified three strategies the wealthy used to accumulate their wealth:

  1. Live Below Your Means – In my research 94% of the wealthy stated they were wealthy because one of the Rich Habits they learned from their parents was the 80:20 Rule. They were taught to set aside 20% of their net pay which forces them to live off the remaining 80%.
  2. Expand Your Means – Jay Leno famously said that he always had two jobs in life. He spent the earnings from the first job and saved the earnings from the second job. Expanding your means can be accomplished by taking on a second job, starting a side business, creating something that has value to others, taking risk to start or grow your business or taking risk and investing your savings in some way. I have many wealthy clients who started out with one rental property and expanded to many rental properties during their lifetime.
  3. Do Both – Living below your means and expanding your means is what the wealthiest of the wealthy do.

 

 

 

Filed Under: Featured Articles
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