Successful Habits of the Wealthy | Jack Canfield

Have you ever wondered what it is that makes the difference between those who are wealthy and those who are not? Well, there are a number of factors, but one of them is their habits. Today I'm going to tell you about some recent research that tells us what some of those habits are. You may find that some of the habits of the wealthy that I'm about to share with you are things you've already heard about. But the question you have to ask yourself is, am I doing them? And if your answer is no, I want you to start practicing them. Write them into your schedule. Put reminders on your bathroom mirror and your refrigerator door or somewhere else where you're going to see them every day, and these habits will work for you if you put them to work. Now, does it require intention and discipline? Yes, of course. If being healthy, wealthy and wise were easy, we'd all be thin, fit and rich and happy. And as you know, that's not the case because it takes making a decision and doing the work. Okay, here goes. 1. The wealthy eat right. Wealthy people value their health and structure their eating habits accordingly. In doing research for his book Rich the Daily Habits of Wealthy Individuals, Thomas Corley found that 57% of wealthy people count calories every day as opposed to 5% of poor people. He also found that 70% of wealthy people eat fewer than 300 calories of junk food per day, but 97% of poor people do. So that's important. Eat healthy. Now. Number two, Wealthy people stay in shape and they keep fit. Now According to research, 76% of wealthy Americans exercise aerobically 30 minutes or more at least four days a week compared to only 32% of poor people. Now aerobic exercise includes anything cardio focused such as running, jogging, walking or biking. Number three wealthy people sleep. Sleep at least seven hours a night. In his study, Corley found that 89% of the self made millionaires reported sleeping seven or more hours every night versus 3% of poor people. Now one of the things that sleep accomplishes, among so many other things behind the scenes, is memory formation. Number four the wealthy get up early. In his book the Billionaire Secret, Rafael Badziag found that every One of the 21 billionaires he interviewed got up by 5am now other research indicates that nearly half of all self made millionaires wake up at least three hours before their workday actually begins. In fact, Robin Sharma, who studies highly successful people, even wrote a book called the 5am Club. Number five the wealthy set goals. Setting goals is crucial to achieving wealth. Now the wealthy set Specific goals, and they write them down where they can see them and review them every day. And wealthy people also choose one primary life goal and focus on it with laser like precision, even if it seems outrageous or unattainable. This is what I call a breakthrough goal in my book, the Success principles. Everything the wealthy people do, every decision they make and every action they take is done with this primary objective in mind. You see, intense concentration of this nature is what enables the wealthy to accomplish what others only dream about. Now, at the same time, while 80% of the wealthy focus on accomplishing a single goal, they almost all have multiple sources of income. Now, this has always been true for me, with income coming in from royalties from the books I've written, my income from my training company, my income from being part of a network marketing company, and my income from my investments. Number six, the wealthy keep a to do list. In order to achieve an overarching goal such as attaining wealth, you need to accomplish a number of smaller goals that feed into the main objective. And for this reason, the majority of wealthy people create daily to do lists. 81% of them in fact, compared to only 19% of poor people. And what's more, research shows that 67% of wealthy folks actually complete 70% or more of their to do list every single day. Number seven, the wealthy read every day. Now, reading information that will increase your knowledge about your business or your career will make you more valuable to your colleagues, your customers and your clients. And among wealthy people, 88% read 30 minutes or more every day, 63% listen to audiobooks during their commute, 79% read educational career related material, and 55% read for personal development. 58% read biographies of successful people, and 94% read about current events. 51% read about history. And this is cruel cool, rather, only 11% get it. Only 11% read purely for entertainment purposes, like novels. Now, in comparison, only 1 out of 50 people struggling financially engages in this daily self improvement reading. And as a result, they don't grow professionally and are among the first to be fired or downsized. Number eight, the wealthy avoid watching television. The majority of the wealthy limit their television watching to an hour or less a day. Now, my mentor, W. Clement Stone, who was worth More than $600 million back in the 1970s, called the television the income reduction box. And he told me, when you're watching tv, you're watching other people get rich while you're not. And he told me if you cut out one hour of television a day, that gives you 365 additional hours a year to read, exercise, create, develop, write or to be selling. Now that's the equivalent of nine and a half extra four 40 hour work weeks a year. That's like having a 14 month year gives you a huge advantage in life. Number nine, the wealthy hang out with other successful people and they avoid toxic people. You see, the wealthy understand that in order to be successful, you must surround yourself with successful people. Networking with other rich and successful people, or people with the drive and potential to become rich and successful is crucial for your own success. You see, about 80% of wealthy people spend at least five hours a month networking, whether it's at a conference, a client event, an online webinar or just over coffee. While only 16% of poor people network consistently. And this allows the wealthy to align their mindsets with others who have achieved success. Remember Jim Rohn's research that indicated that you're the average of the five people you spend the most time with. So you need to spend more time with successful people people if you want to become successful. Number 10, the wealthy volunteer to surround themselves with good people. Many self made millionaires turn to charity. You see volunteering for charitable organizations and civic groups or trade groups help them expand their network of other success minded people. In fact, one study showed that 72% of millionaires volunteered five hours or more every month. Number 11, they find and check in with mentors. Now finding a mentor puts you on the fast track to wealth accumulation. Mentors do more than simply influence your life in some positive way. They regularly and actively participate in your success by teaching you what to do and what not to do. They share with you valuable life lessons that they learned either from their own mentors or from the school of hard knocks. And the wealthy also help others succeed by being mentors themselves. Helping other success minded people move forward in achieving their goals and dreams and actually helps you succeed as well. See, no one realizes success without a team of other success minded people. And the best way to create your team is to offer to help other success minded people first. You don't want to give help to anyone and everyone. But focus on those who are pursuing success are optimistic. They're goal oriented, positive and uplifting. The wealthy seek feedback. Most people do not seek feedback because of their fear of criticism. But feedback is essential to learning what is working and what isn't working. Feedback helps you understand if you're on the right track. Feedback, whether it's good or bad, is a crucial element for learning and growth. And it lets you know if you're on course or off course so you can correct 13 the wealthy never give up. Self made millionaires are persistent. They never quit on their dream, they would rather go down with the ship than quit. And almost 25% of all millionaires have failed at least once in their business and and then they pick themselves right back up. So those are 13 habits of successful People, Wealthy people that you want to apply to your life now. If you found this video helpful, please make sure to like it, share it with a friend who may need it, and subscribe to my channel for more videos like this one, and for additional resources on habits of how to be more successful, visit jackhamfield.com and check out the links in the description below and let me know what you think in the comments. And thanks again for watching.