Habits of the rich

BUSINESS MATTERS (BEYOND THE BOTTOM LINE) - Francis J. Kong (The Philippine Star) - May 5, 2018 - 12:00am

Johnny is in the midst of a long dry spell in Las Vegas. Eventually he gambles away all his money and has to borrow a quarter from another gambler just to use the men’s room. He finds a stall that happens to be open and pockets the quarter.

Believing that his luck has finally changed, he puts the quarter in a slot machine and hits the jackpot. He takes his winnings and goes to the blackjack table and turns his modest winnings into million dollars.

Wealthy beyond his wildest dreams, Johnny goes on the lecture circuit, where he tells his incredible story. He tells his audiences that he will always be eternally grateful to his benefactor, and if he ever finds the man he will share his fortune with him. After months of speaking, a man in the audience jumps up and says, “I’m that man. I was the one who gave you the quarter.”

“Yes, I remember you well, but you aren’t the one I’m looking for. I mean the guy who left the door open!”

Times are different now. There are so many young people out there giving talks and seminars, selling stuff and promising heaven and earth that by listening to them, buying their products and reading their books people will become wealthy. And there are many who would buy into it to their regret later.

As the saying goes: “There’s a sucker born every minute;” a phrase closely associated with P.T. Barnum, an American showman of the mid-19th century, although there is no evidence he in fact said it, the mere fact that these con-artists are still around today may give credence to the fact that people are careless and reckless and their relentless pursuit of instant riches and shortcut to success will always provide a market for these cons. There is however some amount of data and research that would provide safe and sound ideas on how to earn more money.

The book: “Rich Habits: The Daily Success Habits of Wealthy Individuals” written by Tom Corley spent five years studying the daily activities of 233 wealthy people and 128 people living in poverty. I want to share some of his research discoveries:

• 70 percent of the wealthy eat less than 300 junk-food calories per day;

• 97 percent of poor people eat more than 300 junk-food calories per day.

• 23 percent of the wealthy gamble; 52 percent of poor people gamble.

• 76 percent of the wealthy exercise aerobically four days a week; 23 percent of the poor do this.

• 63 percent of the wealthy listen to audio books during the commute to work vs. five percent of poor people.

• 81 percent of the wealthy maintain to-do lists vs. 19 percent of the poor.

• 63 percent of wealthy parents make their children read two or more non-fiction books a month vs. three percent of the poor.

• 80 percent of the wealthy make “happy birthday” calls vs. 11 percent of the poor.

• 67 percent of the wealthy write down their goals vs. 17 percent of the poor.

• 88 percent of the wealthy read 30 minutes or more each day for education or career reasons vs. two percent of the poor.

• Six percent of the wealthy say what’s on their mind vs. 69 percent of the poor.

• 67 percent of the wealthy watch one hour or less of TV every day vs. 23 percent of the poor.

• Six percent of the wealthy watch reality TV vs. 78 percent of the poor.

• 44 percent of the wealthy wake up three hours before work starts vs. three percent of the poor.

• 74 percent of the wealthy teach good daily success habits to their children vs. one percent of the poor.

84 percent of the wealthy believe good habits create opportunity luck vs. four percent of the poor.

• 76 percent of wealthy believe that bad habits create detrimental luck vs. nine percent of the poor.

• 86 percent of the wealthy believe in lifelong educational self-improvement vs. five percent of the poor.

• 86 percent of the wealthy love to read vs. 26 percent of the poor.

Of course, this is subject to challenge considering the fact that the copyright year of this book was some eight years ago. However, notice the disparity between the rich and the poor in their habits and lifestyles? The wealthy lives a regimented lifestyle and would pursue discipline first before pleasure. The formula works all the time.

There is no shortcut to success. If only people will do due diligence and check the track records of authors, speakers and companies offering products, advices or tips on how to be rich in a quick way. Perhaps it will work for them but it certainly will not work for you.

Maybe the list would help and then again maybe others would not believe it and insist on a quicker way to attain riches and wealth. It’s a choice people have to make. But the funny thing is this. When I ask those who are rich and wealthy, they tend to believe the list… and I know why.

(Francis Kong in his highly acclaimed Level Up Leadership learning event will be back with its next run on June 5-6 at Makati Diamond Residences. Early registrations and reservations can be made by contacting April at +63928-559-1798 or register online at www.levelupleadership.ph

  • Latest
  • Trending
Are you sure you want to log out?

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

or sign in with