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20 Habits of Wealthy People vs Poor People

Posted on 8/5/13 at 7:15 pm
Posted by Bayou Tiger
Member since Nov 2003
3657 posts
Posted on 8/5/13 at 7:15 pm
Tom Corley is a CPA who interviewed ~350 people and evaluated habits of rich people versus poor people. He wrote a book about it.

50% of my habits are "wealthy" and 50% are "poor"

LINK

It's not quite what I was expecting before I read his habits - guess I'll have to keep getting by with experience and work ethic.

My "poor people habits":
Not focused on a single goal, don't exercise 4 days a week, don't listen to audiobooks on the way to work, don't make children read 2 or more non-fiction books per month, don't make children volunteer 10 hours or more per month, don't make happy birthday calls, don't read 30 minutes or more per day for education/career, say what's on my mind, don't network 5 hours or more each month, don't wake up 3 hours before work starts (starts at 7 AM)
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39853 posts
Posted on 8/5/13 at 7:24 pm to
He could have boiled it all down to one item on that list that encompasses traits of the all the others:

quote:

14. 6% of wealthy watch reality TV vs. 78% for poor.


/poor
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 8/5/13 at 7:33 pm to
I must be poor
Posted by TigerMan327
Elsewhere
Member since Feb 2011
5135 posts
Posted on 8/5/13 at 7:44 pm to
quote:

6. 63% of wealthy parents make their children read 2 or more non-fiction books a month vs. 3% for poor.


quote:

7. 70% of wealthy parents maketheir children volunteer 10 hours or more a month vs. 3% for poor.



No way either of these are true.. and.. it's not volunteering if someone MAKES you do it.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
72481 posts
Posted on 8/5/13 at 7:47 pm to
wow. that is a list with tons of facts in it. good read.
Posted by Kill Switch
Miamisburg, OH
Member since Sep 2010
2387 posts
Posted on 8/6/13 at 6:41 am to
quote:

11. 6% of wealthy say what’s on their mind vs. 69% for poor.



This is the one that sticks out to me. Do the wealthy not speak their mind in fear of consequences or do the poor speak their minds because of a "nothing to lose" attitude???

ETA: Or is it a combination of both???
This post was edited on 8/6/13 at 6:43 am
Posted by Lsut81
Member since Jun 2005
80094 posts
Posted on 8/6/13 at 6:45 am to
quote:

Do the wealthy not speak their mind in fear of consequences or do the poor speak their minds because of a "nothing to lose" attitude???


I'd say the former...

Successful people know when to stfu and what the consequences could be. They choose and pick their battles appropriately.

Posted by C
Houston
Member since Dec 2007
27816 posts
Posted on 8/6/13 at 8:04 am to
Yeah I have to say me keeping my mouth shut has been a key factor in my success. I generally talk to the bosses when appropriate and not in a setting that would catch them off guard or without the ability to change their opinion.
Posted by LSURussian
Member since Feb 2005
126955 posts
Posted on 8/6/13 at 8:08 am to
6/20
Posted by Kill Switch
Miamisburg, OH
Member since Sep 2010
2387 posts
Posted on 8/6/13 at 8:13 am to
quote:

Successful people know when to stfu and what the consequences could be. They choose and pick their battles appropriately.


My thoughts also, just wondering what everyone else thought.
Posted by TheIndulger
Member since Sep 2011
19239 posts
Posted on 8/6/13 at 8:17 am to
quote:

I find it challenging to read this list and not be offended. When you have money (wealth) it's easy to have time to work out, read, volunteer, and dream. When you are working from paycheck to paycheck your dream is to provide food on the table for that night. The poor aren't always poor because of bad financial habits, especially with the recent economy issues. I'm disappointed in this list and the negative stigma it places on the "poor" and the arrogance it encourages on the "wealthy".
Posted by TheIndulger
Member since Sep 2011
19239 posts
Posted on 8/6/13 at 8:18 am to
quote:

11. 6% of wealthy say what’s on their mind vs. 69% for poor.


This one is pretty funny
Posted by TheDiesel
Phoenix
Member since Feb 2010
2608 posts
Posted on 8/6/13 at 8:20 am to
"poors" tend to speak without thinking about the consequences. I have trashy family members that will forever be poor and live paycheck to paycheck because they continually refuse to think through their decisions and actions.

Watching shitty reality TV and seeing others use this behavior only makes it worse.
Posted by Oenophile Brah
The Edge of Sanity
Member since Jan 2013
7540 posts
Posted on 8/6/13 at 8:36 am to
quote:

I find it challenging to read this list and not be offended. When you have money (wealth) it's easy to have time to work out, read, volunteer, and dream. When you are working from paycheck to paycheck your dream is to provide food on the table for that night. The poor aren't always poor because of bad financial habits, especially with the recent economy issues. I'm disappointed in this list and the negative stigma it places on the "poor" and the arrogance it encourages on the "wealthy".

I saw this comment also. The butthurt is strong with that one.

Offended by a list of behaviors.
Posted by dcrews
Houston, TX
Member since Feb 2011
30163 posts
Posted on 8/6/13 at 8:36 am to
Decent list, but I'm curious. Are the responses given responsible for the outcome (poor/wealthy), or is the outcome responsible for the responses given?

Ex: If I said wealthy individuals invest a double digit percentage into their 401k while the poor do not. Clearly those responses are based heavily on wealthy/poor status being the cause and not the effect.
Posted by C
Houston
Member since Dec 2007
27816 posts
Posted on 8/6/13 at 8:36 am to
Here is the full list and I've bolded the ones that apply to me:

1. 70% of wealthy eat less than 300 junk food calories per day. 97% of poor people eat more than 300 junk food calories per day. 23% of wealthy gamble. 52% of poor people gamble.

2. 80% of wealthy are focused on accomplishing some single goal. Only 12% of the poor do this.

3. 76% of wealthy exercise aerobically 4 days a week. 23% of poor do this.

4. 63% of wealthy listen to audio books during commute to work vs. 5% for poor people.

5. 81% of wealthy maintain a to-do list vs. 19% for poor.

6. 63% of wealthy parents make their children read 2 or more non-fiction books a month vs. 3% for poor. (kids aren't old enough to read, but I read to them nightly.)
7. 70% of wealthy parents make their children volunteer 10 hours or more a month vs. 3% for poor.

8. 80% of wealthy make hbd calls vs. 11% of poor

9. 67% of wealthy write down their goals vs. 17% for poor

10. 88% of wealthy read 30 minutes or more each day for education or career reasons vs 2% for poor.

11. 6% of wealthy say what’s on their mind vs. 69% for poor.

12. 79% of wealthy network 5 hours or more each month vs. 16% for poor.

13. 67% of wealthy watch 1 hour or less of TV. every day vs. 23% for poor

14. 6% of wealthy watch reality TV vs. 78% for poor.

15. 44% of wealthy wake up 3 hours before work starts vs.3% for poor.

16. 74% of wealthy teach good daily success habits to their children vs. 1% for poor.

17. 84% of wealthy believe good habits create opportunity luck vs. 4% for poor.

18. 76% of wealthy believe bad habits create detrimental luck vs. 9% for poor.

19. 86% of wealthy believe in life-long educational self-improvement vs. 5% for poor.

20. 86% of wealthy love to read vs. 26% for poor
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 8/6/13 at 9:36 am to
quote:

14. 6% of wealthy watch reality TV vs. 78% for poor.


All women must be poor.
Posted by greenwave
Member since Oct 2011
3878 posts
Posted on 8/6/13 at 9:56 am to
quote:

"poors" tend to speak without thinking about the consequences. I have trashy family members that will forever be poor and live paycheck to paycheck because they continually refuse to think through their decisions and actions.


Haha yeah I thought of Facebook when I read that one. All the critters on there really like to tell you what they think.
Posted by Powerman
Member since Jan 2004
162191 posts
Posted on 8/6/13 at 10:47 am to
quote:


This one is pretty funny

Also seems very situation based

I'd bet wealthy people are more likely to speak up in an environment like the doctor's office than poor people.
Posted by Zach
Gizmonic Institute
Member since May 2005
112410 posts
Posted on 8/6/13 at 11:38 am to
I'm 14 wealthy
6 poor
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