Woohooo, is it true that you don’t have to be highly educated to be rich. What a relief! Now no-one has any excuses. But, here’s what you do need; you need rich habits. Here’s more great news; everyone has them and can apply them to building wealth.

I actually love this because it’s easy to assume that getting good grades in school is a requirement for becoming rich and having professional success but in reality, as you will find out, 8 in 10 self made millionaires are NOT “A” Grade Students, but they do have 1 trait in common.

Personally, I find January is the best time for me to set new intentions, goals and priorities, and to form new habits for the coming year. So, I wanted to share some insights from an article I think is so appropriate for us (you and me), and outlines the values to embrace if we are to become successful – not only in building wealth – but in life.

🎓 Rich habits

 

The article is titled “8/10 Self Made Millionaires are not “A” Grade Student – But They Have 1 Trait in Common. It says that if we listen to most teachers, and most parents it’s easy to assume that getting good grades in school is a requirement for professional and financial success.

 

Nope.

Tom Corley, author of Rich Habits, surveyed a number of high net-worth individuals , many of them are self-made millionaires. (Not that you have to be a millionaire to be successful, of course.) He found most of the people surveyed did not earn high scores/grades in school.

In fact, only 21% of the self-made millionaires were “A” students. 41% reported they were “B” students, and 29% were “C” students.

That’s right: More of the self-made millionaires were C students than were A students.

And, if you’re wondering if family background played a part, 59% of the self-made millionaires came from middle-class households and 41% came from poor households — proving where you start does not dictate where you finish. You might just need rich habits.

As Corley writes in Rich Habits:

“…success in life does not come easy.”

It is fraught with pitfalls, obstacles, failure, and mistakes. Success in life or business requires persistence, mental toughness and emotional toughness in overcoming these pitfalls. Its pursuit pushes you to the edge emotionally and physically. You must grow a thick skin and become accustomed to some form of struggle if you hope to succeed.

“Individuals who struggle academically, physically, or financially may be more accustomed to dealing with struggle and making it a daily habit to overcome pitfalls.”

🎓 In short, they become mentally tough, and develop rich habits which creates a foundation for long-term success.

 

Rich Habits

Rich Habits revealed;

 

💡 Successful people are great at delaying gratification.
💡 Successful people are great at withstanding temptation.
💡 Successful people are great at overcoming fear in order to do what they need to do. (Of course, that doesn’t mean they aren’t scared — that does mean they’re brave. Big difference.)
💡 Successful people don’t just prioritize, they develop rich habits and consistently keep doing what they have decided is important.

All those qualities require mental strength and toughness to develop rich habits, so it’s no coincidence those are some of the qualities of remarkably successful people.

So, if you didn’t get great grades in school, that’s OK.
🎓 The past doesn’t define you.
🎓 The past is just training.
🎓 Think about what you didn’t do well, about mistakes you made, but only in terms of how you will make sure that next time, you know what to do to make sure things turn out the way you want.

And, never forget that “school” is really never over. Successful people are life long learners.

 

Rich habits are the key!

 

As Corley also writes:

“Self-made millionaires do certain things every day that improve their brains and continuously increase their intelligence during their lifetimes.”

💰 So how will you prioritise your coming years?

💰 What will you set your intention to achieve?

💰 What pitfalls are you willing to overcome in order to achieve your dreams?

💰 What little things will you do each day that will get you to the long term outcome?

💰 What fears will you overcome?

These are all such great questions and to answer them is to highlight your best habits to achieving your success, whether that be building wealth, enhancing your physical health, expanding and then planning the exit of your business, or setting up for your impending retirement. Getting clear on your habits and sticking to your plan doesn’t need a degree for you to achieve your dreams and lifestyle goals.

Here’s to your ultimate success!

 

❇️ If building your wealth and building rich habits, even changing your relationship between your money and your self worth is important to you, I encourage you to read the book Rich Habits and continue to educate yourself in this way, in all things financial and mindset related.

We have a lot of mindset and wealth building content that you can get into in all areas of our website so feel free to take in as much information as you can. Our mindset and habits play the biggest role in our success in any area of our life! If you are interested in more I highly recommend you can grab a copy of his book. Well worth a read!

 

 

🎓 And, if you need help getting clear on your best strategy and planning your best financial life call us on 08 7111 0022 or book a chat to see how we can best help you here

 

Arthur Panagis
Author, Founder, Wealth Coach and Financial Strategist

B.Bus (Accountant)
Grad Dip (Financial Planning)
Professional Certificate in Self Managed Super Funds
ASX Listed Equities Accreditation
Tax (financial) Advisor

 

REMEMBER, action is power!

💪 We want to make the rest of your life the best of your life.

– Head Office –
Suite 2, 148 Greenhill Rd,
PARKSIDE SA 5063
Ph – 08 7111 0022
Email – info@fmgws.com.au

 

👀 To help you be even more inspired to build rich habits, read my article How to get rich on $5 per day here

It gives you the formula, and if this doesn’t inspire you and instill a rich habit of success, nothing will!

 

 

 

 

 

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Disclaimer: This article is factual information only. It is not intended to imply any recommendation about any financial product(s) or to constitute tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future.

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