What you need to do to be part of the 1%

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tn (Free Agent) Posted 8 months ago

The 1% are who they are because they are the minority doing things others can't or will not do. Entrepreneurs fall into this category as not everyone has what it takes to be an Entrepreneur. Many Entrepreneurs will gain access to the 1% due to their business success. But realistically there is no secret formula to being part of the 1%. Most of the actions needed only require sweat equity and persistence.

I was reading an article by Tom Corley in CNBC (Google it if you want to be part of the 1%). He was discussing someone complaining about the 1% and why they control 82% of the wealth in the world. Then the "complainer" wanted wealth redistributed which Corley noted was not the correct answer. Many of the wealthy stay that way because they practice certain good habits.

An easy habit of the 1% is reading. According to Corley's Rich Habit Study, 9 out of the 10 wealthy read 30 minutes or more every day to learn. He noted that rich people read to gain knowledge which can be leveraged into wealth. Very easy wealth habit, right? Here are some more habits: deliberate practice, focus on long-term goals, focus on daily goals, save, manage your spending, forge rich relationships, volunteer, 5am club, be a decision maker, and do work you love or at least like.

Nothing really difficult to master but hard to put into practice every day. The big question is how much do you want to be part of the 1%. This answer to this question will determine if you are successful. Let us know your thoughts in the forum.

Profile image for biker-eddie
biker-eddie (Free Agent) Posted 8 months ago

As you said Tony, the rich are rich because they are doing things that nobody else is willing to do. They are putting in the hours and they work smarter.


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