IntroductionHey, hey, hey. What’s up, my fellow iguanas? Welcome back to another episode of The Investing Iguana, where I teach you how to grow your wealth and achieve financial freedom. I’m your host, Iggy, and today I have a very special video for you. I’m going to share with you the secrets of 233 millionaires. That’s right. 233 millionaires. How did they get rich? What do they do differently? And most importantly, how can you copy their success and become one of them? If you want to know the answers, then stick around, because this video is going to blow your mind. But before we dive in, I want to ask you a favor. If you enjoy this video, please smash that like button and subscribe to my channel. It really means a lot to me. And if you have any questions or comments, feel free to drop them below. I love hearing from you and I will try to reply as many as I can. OK, let’s get started. The source of this video is a website called Rich Habits: 10 Key Commitments for Success. It is based on a book by the same name, written by Tom Corley, who spent five years studying the habits of 233 wealthy individuals and 128 poor individuals. He discovered that there are 10 key commitments that the rich make for success, and that anyone can learn and apply these commitments to their own life. So what are these 10 key commitments? Let’s go over them one by one. 1. Cultivate daily habitsThe first commitment is to cultivate daily habits that support your goals. The rich know that success is not a fluke, but a result of consistent actions over time. They have routines and rituals that they follow every day, no matter what. These habits include reading, learning, exercising, meditating, networking, planning, and tracking their progress. According to Corley’s research, over 85% of rich people read at least two books per month, and 79% read professional literature to stay updated in their field. They also spend at least 30 minutes every day on self-education or self-improvement. This shows that the rich are avid readers and constant learners. They know that the key to success is to never stop learning and growing. 2. Set daily, monthly, yearly, and long-term goalsThe second commitment is to set daily, monthly, yearly, and long-term goals that align with your vision and purpose. The rich have a clear idea of what they want to achieve in life, and they break it down into smaller and more manageable steps. They also write down their goals and review them regularly. According to Corley’s research, 80% of rich people focus on accomplishing some single goal, and 67% write down their goals. They also have a written plan for achieving their goals. This shows that the rich are focused and organized. They know that having a goal is not enough; you need to have a plan and take action. 3. Enhance self-worth dailyThe third commitment is to enhance self-worth daily by developing confidence, optimism, and passion. The rich have confidence in themselves and their ability to achieve their goals. They are also optimistic about their future and passionate about their work and interests. According to Corley’s research, 94% of rich people pursue something they are passionate about, and 76% believe that good habits create opportunity luck. They also have positive affirmations that they repeat every day. This shows that the rich have a positive attitude and a strong sense of self-worth. They know that confidence, optimism, and passion are essential for success. 4. Pay attention to physical health dailyThe fourth commitment is to pay attention to physical health daily by eating well, exercising regularly, and getting enough sleep. The rich know that physical health is the foundation of mental health and performance. They take care of their bodies as well as their minds. According to Corley’s research, 76% of rich people exercise aerobically four days a week, and 57% count calories every day. They also avoid junk food and limit alcohol consumption. This shows that the rich are health-conscious and disciplined. They know that health is wealth. 5. Build and maintain relationships dailyThe fifth commitment is to build and maintain relationships daily by networking with like-minded people, nurturing friendships, and giving back to the community. The rich know that relationships are the key to success. They surround themselves with supportive mentors, peers, and partners who can help them grow and achieve their goals. According to Corley’s research, 88% of rich people network and associate with other success-minded people, and 86% make happy birthday calls. They also volunteer for charitable causes and donate money to worthy organizations. This shows that the rich are social and generous. They know that success is not a solo journey, but a team effort. 6. Live a disciplined life dailyThe sixth commitment is to live a disciplined life daily by avoiding procrastination, making decisions decisively, and controlling emotions. The rich know that discipline is the bridge between goals and accomplishment. They do not let distractions, doubts, or fears stop them from taking action. They also do not let emotions cloud their judgment or interfere with their relationships. According to Corley’s research, 81% of rich people maintain a to-do list, and 70% make decisions quickly and stick with them. They also avoid gossip and negative emotions. This shows that the rich are productive and decisive. They know that discipline is the master key to success. 7. Complete today’s tasks on timeThe seventh commitment is to complete today’s tasks on time by prioritizing the most important and urgent ones, delegating or outsourcing the less important ones, and eliminating the unnecessary ones. The rich know that time is the most precious resource, and they use it wisely. They do not waste time on trivial matters or activities that do not contribute to their goals. According to Corley’s research, 67% of rich people watch less than an hour of TV every day, and 63% spend less than an hour on the internet for leisure. They also limit their email checking to three times per day or less. This shows that the rich are efficient and effective. They know that time management is life management. 8. Live with a wealth-building mindsetThe eighth commitment is to live with a wealth-building mindset by adopting a growth mindset, embracing challenges, learning from failures, and seeking feedback. The rich know that mindset is everything, and they cultivate a mindset that supports their success. They do not see themselves as fixed or limited, but as flexible and capable of improvement. According to Corley’s research, 84% of rich people believe good habits create opportunity luck, and 76% believe bad habits create detrimental luck. They also believe in lifelong learning and self-improvement. This shows that the rich have a growth mindset and a positive outlook. They know that mindset determines reality. 9. Save 10% of every paycheckThe ninth commitment is to save 10% of every paycheck by living below your means, investing wisely, and diversifying your income streams. The rich know that saving is the first step to building wealth, and they make it a habit to pay themselves first. They also invest their money in assets that generate passive income, such as stocks, bonds, real estate, or businesses. According to Corley’s research, 94% of rich people save 20% or more of their income, and 80% have at least three streams of income. They also invest in financial education and seek advice from experts. This shows that the rich are savvy and smart with their money. They know that saving is earning. 10. Control thoughts and emotions dailyThe tenth and final commitment is to control thoughts and emotions daily by practicing gratitude, meditation, positive thinking, and affirmations. The rich know that thoughts and emotions are powerful forces that can either help or hinder their success. They choose to focus on the positive aspects of their life, rather than the negative ones. They also use techniques such as gratitude, meditation, positive thinking, and affirmations to calm their mind, reduce stress, increase happiness, and boost confidence. According to Corley’s research, 82% of rich people are grateful for what they have, and 75% meditate at least 15 minutes every day. They also have positive affirmations that they repeat every day. This shows that the rich are mindful and happy. They know that happiness is a choice. ConclusionSo there you have it. The secrets of 233 millionaires. These are the 10 key commitments that they make for success. And guess what? You can make them too. You can learn from these habits and adopt them in your own life. You can become rich too. But don’t just take my word for it. Try it for yourself. Pick one habit from this list and start practicing it today. Then add another one tomorrow. And another one the day after. And so on. Until you have mastered all 10 habits. And then watch your life transform before your eyes. |
Author🦖 Welcome to the Investing Iguana YouTube channel, your one-stop destination for all things related to investment tips, news, and advice! Our mission is to empower you with the knowledge and insights you need to make informed investment decisions and grow your wealth. With a perfect blend of engaging content, expert advice, and practical strategies, the Investing Iguana is here to guide you through the complex world of investing and help you achieve your financial goals. Archives
October 2023
Categories
All
|