Today we’re bringing you another round of He Said/She Said. These posts are really your chance as readers to hear how discussions (and sometimes disagreements) play out when managing our lives with each other. For a look at some of the past He Said/She Said discussions – check ‘em out here.
Yahoo Finance recently interviewed financial planner Tom Corley, whose recent book “Rich Habits: The Daily Success Habits of Wealthy Individuals” uncovers some of the daily habits that correlate with wealth. In the interview, Corley talks about six habits that he found that correlate with the actions of wealthy people, noting “I realized, it’s not so much what’s going on in business, it’s the daily habits, the activities, that are the reason for your wealth or your poverty.”
Five Daily Success Habits
- Early Risers – 44% of wealthy wake up three hours before their 9-5 jobs
- Keep A Running List of Tasks – 70% keep lists of short and long-term goals
- No Long Lunches – 55% use lunchtime to network and “wheel and deal”
- Calorie Counting – “wealthy people are healthy people… with fewer sick days eating into productivity”
- No Gossiping – 6% of wealthy people admit to gossiping compared to 79% of low-income people
- Limited Internet – Those with troubled finances were more than twice as likely to go on Facebook or spend more than an hour on the internet every evening compared to the wealthy who use this time for networking
But here in the PoP household, we like to remember that correlation is not causation, so we asked ourselves where we stood on some of these habits.
Early Riser: Wait…so you’re saying that the majority of Wealthy People are NOT “early risers”? I’m so confused, did the author even look at his own data?
List of Tasks: Guilty-I’m very list based for daily goals; my quarterly and yearly goals are actually part of a PowerPoint preso for my work
No Long Lunches: Oh, I take long lunches. Alone. Not sure what that says really…
Calorie Counting: I call bullshit on this one unless this guy can separate causality and causation. Wealthy people are also less likely to work no-collar and blue-collar jobs that wear your body; they are also more likely to have the work flexibility and healthcare for doctor’s checkups, and work inside away from snow and rain.
No Gossiping: When a poor person tells secrets, its called gossiping. When a wealthy person does, its called insider trading (and you can bet they are getting their cut).
Limited Internet: Shit! I knew surfing Reddit every night was making me poor.
I’m probably not going to read this guy’s book, but this strikes me as poorly-researched bullshit. The number one habit of wealthy people is to earn more than they spend. Period.
Early Riser: Yessir! Most days I’m up at 5 to get in a workout or a run before riding my bike to work and arriving at the office by 8am. Kitty PoP loves that I get up that early.
List of Tasks: Yes and No. I know I am more productive when I have a list, so use one when I know I want to buckle down. But lately I’ve been experimenting with fewer lists to see if life feels a bit less hectic. (Jury’s still out.)
No Long Lunches: I usually spend a couple lunches per week at the gym with others from my company where we occasionally run into other community business members that work nearby. It’s not the traditional power lunch, but I have definitely networked from a roman chair.
Calorie Counting: I’m not a hard core calorie counter, but I definitely watch what I eat and try and keep as much healthy food in the house as possible.
No Gossiping: I like to think I’m like Verbena from the 1961 movie the Parent Trap. “I’m not saying a word. Not one single word…” (It starts at 1:34 in this clip. Just love that movie!)
Limited Internet: I’ve basically given up on Facebook, but definitely spend more than an hour per day surfing the web and reading.
Without reading the book, I’m taking these stats with a grain of salt, but I do think it’s interesting.
So where do you fall on the daily habits of wealthy people?