Daily Habits of Wealthy People

by James Hendrickson on June 26, 2019 · 2 comments

Yahoo finance used to be a powerhouse of great personal articles and videos. Their quality has declined as of late, but there are still some gems to be had if you’re digging through the archives.

Here is a quick video I like by Farnoosh Torabi. In it she details some of the habits of people making more than $150,000 annually with $3.2 million in investable assets.

The video is below:

If you don’t have time to check it out, basically wealthy people do the following:

1. Get up early and utilize their time for self improvement
2. Keep to-do lists at work and generally take care of most of the things on their list
3. Keep lunches short and focus on deal making or networking
4. Set short and long term goals
5. Count calories & stay healthy so they can work longer and harder
6. Spend free time socializing or networking
7. Don’t gossip.

The video pretty much summarizes the work of Tom Corley – an accountant and well known proponent of the idea that wealth is generated through one’s daily habits. If you like the video and want to learn more about Corley’s data you might consider picking up a copy of his book Rich Habits – The Daily Success Habits of Wealthy Individuals. Its his best work. I don’t recommend Corley’s books for children or some of his other work. They’re considerably less insightful and harder to get through.

Here are some more articles on the mechanics of personal finance worth reading:

Building Wealth on $600 A Month
The Pros and Cons of Mutual Funds
Nine Ways To Make Extra Money

Readers, if you have any other videos you’d like featured shoot us an email or leave a comment below, we’d love to have a look at them!

{ 2 comments… read them below or add one }

1 Canadian Budget Binder June 26, 2019 at 9:01 am

Thanks for sharing the video. I agree with what they say about the wealthy as well. What was interesting was the gossip at work. If you want to be successful at work and you have an agenda you don’t have time to piss about and gossip. Gossip is for people who aren’t happy at work and need to find a job that keeps their minds going. I also believe that eating less, eating right and keeping fit are essential. I also get up early or do what I need to in the morning when I can as I have an odd schedule but my time is not spent in front of the tube it’s spent motivating and educating myself and others. I may never be wealthy but inside I know I’m doing what’s best for me. Cheers mate

2 [email protected] June 26, 2019 at 12:59 pm

Thank for sharing the video. Research has shown that 40% of our time is spent following habitual patterns of action.

So it makes sense to install the habits which will make the greatest positive difference to your life.

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