What secrets about managing money do the rich know that the average person doesn’t? I spent five years trying to answer that question. I asked 233 millionaires 144 questions and discovered the rich have certain very specific money habits that were instrumental in helping them accumulate their wealth. [Read more…]

I spent five years studying the daily activities of wealthy individuals. I learned so many things that I’ve spent the better part of seven years sharing that information to help those who were struggling financially pull themselves out of the abyss that is poverty. One of the many things I learned is that self-made millionaires have a very different understanding about money than everyone else. I’d like to share some of the myth’s about money I uncovered in my research. [Read more…]

Financial success takes a long time. In my Rich Habits Study it took the average self-made millionaire 32 years to become “rich”. When I began my study I wanted to know the answer to one question: why are some people rich and other people poor? Five years, and over 350 interviews later, I finished my research. It wasn’t an easy thing to do. I had grouped 144 questions into 20 categories, and asked over 350 millionaires and poor people these questions. It took me five years because this wasn’t just a survey I mailed out. Surveys have very limited value. I either met with these people or spoke with them over the phone. As a result, I was able to gather far more data. If you do the math, I asked 51,984 questions of the rich and the poor. That’s a lot of questions! But also, a lot of answers. One of the most valuable things I learned from this research is that there are really only two ways to become rich: [Read more…]

One of the hallmarks of the self-made millionaires in my Rich Habits Study was their generosity. They gave both their time and money primarily to local community-based non-profit organizations. But what if I told you that even if you don’t have a lot of money, you could be charitable, and it wouldn’t cost you any time or money?

Have you ever found money? Do you remember what you did with the last change you found in a parking lot, on the street of on a sidewalk? If you’re like most, you probably put it in your pocket and it eventually made its way into some container you have at home for change.

Well, let me tell you what I just started doing with my found money. I put a cup in my car. I call it the Found Money Charity Cup. I now put all of my found money in the cup. When the cup is full, I intend on bringing it to one of the non-profits in my town and giving them the money. It might take a year to fill that cup but, so what. The few dollars I accumulate will come to some good use.

What’s interesting, is that the moment I put this Found Money Charity Cup in my car, I began looking for money everywhere. And because of this little treasure hunt I’ve been on, I am finding money almost on a daily basis. And my cup is really starting to fill up. I began to think, what if everyone started to do the same thing? What if offices, warehouses, manufacturing facilities, schools, bars, auto repair shops, hair salons, car rentals, airports, parking garages, ferries, train stations, etc. around the world put out a Found Money Charity Cup? Can you imagine how much of the world’s found money would make its way into a worthwhile charity? Something to think about.

Financial success takes a long time. In my Rich Habits Study it took the average self-made millionaire 32 years to become “rich”. When I began my study I wanted to know the answer to one question: why are some people rich and other people poor? Five years, and over 350 interviews later, I finished my research. It wasn’t an easy thing to do. I had grouped 144 questions into 20 categories, and asked over 350 millionaires and poor people these questions. It took me five years because this wasn’t just a survey I mailed out. Surveys have very limited value. I either met with these people or spoke with them over the phone. As a result, I was able to gather far more data. If you do the math, I asked 51,984 questions of the rich and the poor. That’s a lot of questions! But also, a lot of answers. One of the most valuable things I learned from this research is that there are really only two ways to become rich: [Read more…]

If you’re like most people, you’ve got one stream of income – your job. And if you’re like most people you are either poor or stuck in the middle-class. If you want to break out of poverty or the middle-class you need to begin creating multiple streams of income.

“But I’ve got two kids, weekends filled with running around from one sporting event to the next for my kids, kid birthday parties to attend and already too much job-related work on my plate as it is. How on earth am I supposed to find the time to add another stream of income?” [Read more…]

Bad habits impair your brain. You can tell when your habits are impairing you brain. This impairment manifests itself in bad choices, poor memory, lake of willpower, trouble sleeping, feeling lethargic during the day, uncontrolled anger, depression, poor health, and strained relationships.

But, not to worry, I’m here to help. I’ve spent the past eleven years studying the daily habits of those who succeed in life and those who do not. Those who succeed in life all share certain habits that improve brain function, increase their IQs, physically grow their brains by adding and strengthening brain cells, improve memory and accelerate their thinking. In my study of the brains of those who succeed and those who struggle in life, I uncovered some very interesting facts about how successful individuals are able to improve brain function. [Read more…]

Your money habits can make you rich or put you in the poor house. According to a recent study by Brown University, in which nearly 50,000 families were surveyed, most of the habits we pick up in life come from our parents (Brown Study). This includes money habits. If your parents had bad money habits it is likely those habits rubbed off on you. But in order to change bad money habits you need to first become aware of them. Below are some destructive money habits that I uncovered in my five year Rich Habits study that will put you in the poor house unless you eliminate them: [Read more…]

What secrets about managing money do the rich know that the average person doesn’t? I spent five years trying to answer that question. I asked 233 millionaires 144 questions and discovered the rich have certain very specific money habits we all should adopt immediately. What are they? [Read more…]