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Search resuls for: "Tom Corley"


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I spent five years studying 233 millionaires to learn about their habits and the way they think. But almost everyone told me that what contributed more to their wealth was that they stopped wasting money on certain things:1. Cheaply made productsThey refused to drop money on the latest fashion trends, or inexpensive and poorly constructed furniture. Outdoor tools and equipmentWhile some still enjoyed doing outdoor work, like mowing their lawn, weeding, landscaping and trimming, the vast majority — once they got wealthy — hired landscapers to take care of all outdoor upkeep. This meant they no longer spent money repairing or replacing old equipment.
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I spent five years studying the habits of 233 millionaires to learn about their habits and the way they think. Some left to start their own businesses, while others found lateral roles that offered more growth opportunities and a higher salary. The millionaires in my study often felt like they were always doing "zombie work" — boring, repetitive tasks that didn't showcase their strengths and talents. After months of job interviewing, he landed an offer at a competitor firm, where he rose up the ladder and became a partner. She took another job at a New Jersey-based company in the pharmaceutical industry, and it paid off.
I spent five years studying the habits of 233 millionaires — 177 of them were self-made — to find out how they make use of their time. Self-made millionaires are constantly learning. In my study, 86% of self-made millionaires worked an average of 50 hours or more a week. Self-made millionaires dream big. Self-made millionaires make their own luck.
In 2004, I set out to conduct a five-year "Rich Habits" study to explore how the world's wealthiest people think about their money. Each of the 225 millionaires I interviewed fell into one of four categories:Saver-Investors: No matter what their day job is, they make saving and investing part of their daily routine. Virtuosos: They are among the best at what they do, and they're paid a high premium for their knowledge and expertise. The Saver-Investor route requires the least amount of risk — at least compared to pursuing an entrepreneurial dream or artistic passion. But 88% of the millionaires I interviewed said that saving in particular was critical to their long-term financial success.
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