Most common habits of The World’s 4 Richest groups

Research "Rich Habits" by Tom Corley shows that there are 4 groups of wealthy people, including savers - investors, people who are eager to advance at work, high skilled professionals and the dreamers.

One of the common wealthy habits of the world's richest people is saving and investing their savings.

Table of Contents

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I- 4 groups of Wealthy people
1. Savers – Investors
2. People who are eager to advance at work
3. High-skilled professionals
4. Dreamers
II- Top Millionaire habits
1- Automatically save 20% of total salary
2- Regularly invest a part of a savings account
3- Extremely Saving

One of the common wealthy habits of the world's richest people is saving and investing their savings.

I- 4 groups of Wealthy people

1. Savers – Investors

Whatever their daily job, they always consider saving and investing as part of their daily routine. They are constantly thinking about smart ways to grow their fortunes.

2. People who are eager to advance at work

People who are eager to advance at work often work for a large company and spend all their time and energy climbing up the key positions of the company until they reach high-level executive positions with extremely high salaries.

3. High-skilled professionals

They are the best in their profession and are paid more than the average person because of their own knowledge and expertise. Of course, they certainly had formal education with excellent degrees.

4. Dreamers

People in this group all pursue a dream such as starting a business, becoming a successful actor, musician or best-selling author in the world. Dreamers love what they do to earn a living.

Most common habits of The World’s 4 Richest groups

The saver-investor group usually requires the least amount of risk, at least compared to pursuing a business dream or a passion for the arts. However, 88% of the millionaires who Corley interviewed said that saving was an important factor in their long-term financial success.

According to the “Rich Habits” study, it takes 12 to 32 years for the millionaire to accumulate a net worth of $3-7 million. To do that, they often have the following 3 common wealthy habits.

II- Top Millionaire habits

1- Automatically save 20% of total salary

In Corley's research, the group of savers-investors regularly put at least 20% of their salary each period into a savings account. Many people set up automated commands for this. Normally, they deduct 10% of their salary into a retirement account set up for them by the company, and the remaining 10% is automatically transferred to a separate savings account. Then, once a month, the saver-investor group transfers the equivalent of 10% of the monthly savings account into an investment account.

If saving 20% of your gross salary is too high right now, you can deduct a smaller but regular portion. Only then can you achieve your financial goals for the future.

2- Regularly invest a part of a savings account

As the saver-investor group continuously invests their savings, their wealth will increase over time. At the start, the compound interest is negligible. But after 10 years, they began to accumulate a considerable amount of wealth. By the end of his working years before retirement, the saver-investor's wealth had grown to an average of $3.3 million.

Most common habits of The World’s 4 Richest groups

Millionaires who chase their dreams and startups can't invest their savings, especially in the early stages when they're chasing their wealthy dreams. Any savings they have will be used as working capital in the pursuit of their wealthy dreams. However, the interesting thing is that when most of these people achieve success with cash flow readily available, they immediately invest their earnings.

3- Extremely Saving

According to Corley's research, one of the common denominators for self-made millionaires among the savers-investors, people who are eager to advance at work, and high skilled professionals is that they are very frugal. For these millionaires, saving begins as soon as they get their first paycheck. For the dreamers, saving begins when their dreams generate enough cash flow to help them save and invest.

Savings requires three elements:

- Awareness: You must be aware of how you spend your money.

- Focus on quality: You have to spend your money on quality products and services.

- Bargain when shopping: You need to spend as little as possible by looking to get the lowest price.

However, just saving won't make you rich. It's just one part in many pieces of the "Rich Man Habits" puzzle. Many a little makes a mickle - The more you save, the more money you have to invest.