Archives for September 2013

Rich Habits Word of the Day

Mentor – A wise and trusted counselor or teacher. Jack Canfield was mentored by W. Clement Stone and went on to become the most successful self-help author selling well over 1/2 billion books.

Rich Habits Fact of the Day

Jack Canfield (Chicken Soup of the Soul author) was mentored by the famed founder of Success Magazine W. Clement Stone.

Rich Habits Lesson of the Day

24% of all wealthy individuals had mentors in their lives. Only 2% of poor people had mentors. 93% of the wealthy who had mentors indicated that their mentor was responsible for their wealth. There are four ways wealthy individuals learn good daily success habits. Most learn them from their parents, some learn them from their teachers, some learn them from one or more mentors in life and the rest learn these Rich habits from the schools of hard knocks. If you are not fortunate enough to have been raised by parents who knew the Rich Habits the next best path to wealth is to ask someone to be your mentor and follow their sage advice.

Rich Habits Word of the Day

Prescient – Foresight. Good parents have the foresight to prepare for unforeseen events, such as death, by obtaining adequate life insurance for their family.

Rich Habits Fact of the Day

Studies show that 40 percent of adult Americans have no life insurance whatsoever, and over 50 million people in this country lack adequate life insurance. Other studies of widows and widowers whose spouse died prematurely (between the ages of 30 and 55) show that less than 25 percent felt their spouse had adequate life insurance. Lack thereof has caused many widows and widowers to have to drastically change their lifestyles, in ways like taking on second and third jobs or working longer hours, borrowing money, withdrawing money from savings or investment accounts, and/or moving into smaller, less expensive housing.

Rich Habits Lesson of the Day

72% of wealthy individuals carry life insurance equal to five times or more of their annual income. 89% of poor people, on the other hand, do not carry adequate life insurance. People die unexpectedly. It’s bad enough to lose a parent but it becomes traumatic for kids when they are also forced to move our of their home, leave school and their friends.

Rich Habits Word of the Day

Indolent – Lazy. Recreational Internet use is an indolent activity and a poor use of time.

Rich Habits Fact of the Day

The college graduation rate over six years is 55%.

Rich Habits Lesson of the Day

63% of wealthy people spend less than one hour a day engaged in recreational Internet use. Conversely, 74% of poor people spend more than an hour a day engaged in recreational Internet use.Wealthy individuals make more productive use of their time than poor individuals. This productivity allows wealthy individuals to accumulate more wealth during their lifetime.

Rich Habits Word of the Day

Scourge – Plague. Obesity has become the scourge of the poor in America.

Rich Habits Fact of the Day

Children from poor families have had some of the nation’s highest rates of obesity. One in eight preschoolers in the United States is obese. Among low-income children, it is one in seven. The rate is much higher for blacks (one in five) and for Hispanics (one in six).

Rich Habits Lesson of the Day

97% of poor people in a five-year study by the Rich Habits Institute ate more than 300 junk food calories a day. 70% of wealthy people in this same study ate less than 300 junk food calories a day. Wealthy people are healthy people. Being healthy results in fewer sick days, more productivity and a longer work life. This translates into more income and lower health care costs.

Rich Habits Word of the Day

Ethos – Customs or beliefs. One of the ethos of wealthy people is purchasing, rather than leasing an automobile.

Rich Habits Fact of the Day

The most important number — whether you buy or lease — is the purchase price. Unfortunately, this number is seldom, if ever, discussed in a lease and is buried in the leasing documents, which you will probably only get to see minutes before you sign. Leasing agreement include something called a “Disposition Fee”. You don’t pay a disposition fee when you purchase a car. Residual value and net capitalized costs are variables that affect your monthly lease payment amount and are difficult to understand. You don’t have residual value or capitalized cost variables when you purchase a car. Each lease allows you to drive a certain number of miles each year without incurring any additional costs. Oftentimes this is either 15,000 miles. If you exceed 15.000 miles you will have to pay an additional cost calculated on a per mile basis. There are so many variables in a lease for a good reason. Each variable is engineered in favor of the car dealer and not the one leasing the vehicle.

Rich Habits Lesson of the Day

6% of the wealthy lease cars. Conversely,45% of poor people lease cars. Leasing a car is a Poverty Habit. Wealthy people don’t lease cars. They purchase their cars and will drive them as long as the engine holds out. 44% of the wealthy purchased a used cars in the last five years. Wealthy people purchase and take good care of their cars. Purchasing a new or used car and owning it for the long term is much cheaper than leasing a new car every three years. The savings can be as much as $2,000 a year. If you want to walk in the footsteps of the wealthy begin by purchasing your cars.

Rich Habits Word of the Day

Pessimistic – To think negatively or see gloom. John always believed he would wind up poor and his negative dream came true when he lost his job.

Rich Habits Fact of the Day

President Lincoln confided to those closest to him that he feared more than anything being assassinated.

Rich Habits Lesson of the Day

All negative thinking is a Poverty Habit. Because like attracts like, when we think negative thoughts, negative things materialize in our lives. This is why it is so important to be aware of our thinking and stop all negative thoughts in their tracts. This is also why it is so important to consciously put positive thoughts in our minds through the use of daily affirmations and visualization techniques.

About Tom Corley

Tom Corley understands the difference between being rich and poor… At age 9 his family went from being multi-millionaires to poor in just one night.

Tom spent five years studying the daily activities of 233 wealthy people and 128 people living in poverty. Tom discovered there are vast differences in the daily habits of the two groups. During his research he identified 149 daily activities that separated the “haves” from the “have nots.” The culmination of his research can be found in his #1 Bestselling book, Rich Habits – The Daily Success Habits of Wealthy Individuals (www.richhabits.net). Tom is a CPA, CFP and holds a Master’s Degree in Taxation and is President of Cerefice and Company, CPAs and CEO of the Rich Habits Institute.

Tom has shared his insights on The Dave Ramsey Show, WABC, WCCO, KOA, KDKA, and KKOB and more than 1,000 other radio stations, a host of print media publications and many TV shows including Financially Fit’s Farnoosh Torabi (Today Show, Kelly and Michael, The View).

Tom’s number is 732-382-3800 Ext 103.  Email: TOM@RICHHABITS.NET

Media Kit: http://richhabits.net/rich-habits-buzz-media-kit/

Rich Habits Word of the Day

Epiphany – Revelation (light bulb goes off in your head). Tom had an epiphany when he woke that led him to discover his main purpose in life.

Rich Habits Fact of the Day

John Locke’s views on individual rights and the rule of law inspired the Founding Fathers, who decided to break with Great Britain and create a country founded on individual rights and limited government.

Rich Habits Lesson of the Day

Those who find their chief aim in life or their main purpose are among the happiest and most successful in society. How do you go about finding your main purpose in life? Take out a piece of paper and list at least 20 things that you love and that makes you happy. Now highlight any of those things on your list which offer an opportunity to generate either earned or unearned income.  Rank these in order, with #1 being the item that can make you the most money. Pick one of these activities and begin immediately to pursue this activity with your spare time. Do this for thirty days. If after thirty days you realize this activity is not something you would like to do for the rest of your life then move on to the next activity on your list and pursue this next activity for thirty days. Eventually you will uncover that activity which is your main purpose. How do you know it is your main purpose? You know when you are engaged in the activity and time flies by. You know when you do not want to stop the activity. You know when you feel happy doing the activity. You know when the activity does not feel like work.

Rich Habits Word of the Day

Erudite – Scholarly, learned. While commuting to work he listened to audio books and developed into one of the most erudite employees in his company and soon became un-fireable.

Rich Habits Fact of the Day

Although James Madison was the shortest President he is considered by many historians the most intelligent and knowledgeable.

Rich Habits Lesson of the Day

The average person commutes sixty minutes a day. The wealthy use this time listening to self-improvement audio books. They understand that by increasing their knowledge-base they uncover opportunities others miss and this makes them more valuable to their employer, customers or clients.

About Tom Corley

Tom Corley understands the difference between being rich and poor… At age 9 his family went from being multi-millionaires to poor in just one night.

Tom spent five years studying the daily activities of 233 wealthy people and 128 people living in poverty. Tom discovered there are vast differences in the daily habits of the two groups. During his research he identified 149 daily activities that separated the “haves” from the “have nots.” The culmination of his research can be found in his #1 Bestselling book, Rich Habits – The Daily Success Habits of Wealthy Individuals (www.richhabits.net). Tom is a CPA, CFP and holds a Master’s Degree in Taxation and is President of Cerefice and Company, CPAs and CEO of the Rich Habits Institute.

Tom has shared his insights on The Dave Ramsey Show, WABC, WCCO, KOA, KDKA, and KKOB and more than 1,000 other radio stations, a host of print media publications and many TV shows including Financially Fit’s Farnoosh Torabi (Today Show, Kelly and Michael, The View).

Tom’s number is 732-382-3800 Ext 103.  Email: TOM@RICHHABITS.NET

Media Kit: http://richhabits.net/rich-habits-buzz-media-kit/