9 Important Traits for Wealth and Success

33
5.6K followers
Updated

Introduction

From time to time articles come out that expand on the characteristics that successful people have...Their habits, traits, actions, and mindset all are included in these reports...

Today I want to expand on one such study that I read about recently...The article was about some research results a gentleman named Tom Corley has come up with. Tom is an accountant and a financial planner by trade...

To put his list together and write a book about what he found, he conducted surveys with 233 wealthy self-made millionaires, asking about their daily habits.Tom then compared the answers received to other surveys from 128 more folks who were either lower-earning or making less than $35,000 in annual gross income.

Tom has a best-selling book called Change Your Habits, Change Your Life and he expands greatly on the 9 common traits or habits that helped the wealthy people succeed compared to others.

A good read, and I want to pin his findings to what I am doing and what you can do as a member of this fine community we have here at Wealthy Affiliate...These are key traits that when practiced will more likely lead you to wealth and success in your life...

Here they are:


Tom's Findings About Sucessful People's Traits & Habits

These are listed in no particular order of importance, rather taken together are indicators to measure against your own daily habits/actions...

1. Early risers...

Tom found that almost half of the wealthy got out of bed at least three hours before starting their workday. They used the time to work on personal projects, plan their day, or to get some exercise...

In my experience, I also rise early and I use this time to get an idea of what has to be done and how I will do it...I call this simply my daily "To Do" list. It is a written exercise with pen and paper and I update my list every day...

I like the quiet time early in the morning when there are no phones ringing or other distractions...I can often fit in several other habits mentioned here during this early morning time...

2. Reading is a habit...

Per Tom, 88% of the wealthy survey participants devoted at least 30 minutes or more daily to reading books...They focus on education or self-improvement, biographies, and history subjects.

Personally, I used to read more, but bad eyes have constricted this somewhat...I DO keep up with things going on in the world, and read through all the headlines and main articles every day.

Rather than full on books like Tom's often these days I will read the synapses of books, and pay more attention to blogs, columns by writers I follow, and even different country's news i.e. Germany, USA, Canada, and the UAE..


3. They take time to reflect daily...

Per Tom, this is a bit of private time where the wealthy used 15-30 minutes of their day to reflect on what was going on around them and with their own life. Many times it was about their career, their health or personal relationships.

I do this daily as well, and really find it helps me focus on what I should be doing, not only for the day, but also in general...It keeps me heading in the right direction, and it does not take long...


4. They exercise regularly...

This is one that is not surprising for me, as I have heard and practiced this for years as a military member, and after retirement. When you exercise regularly it helps in many ways, not just physically...I find it helps me think more clearly and also it is a pick me up, I feel energized...I generally do exercise daily, alternating heavy and light workouts every other day...It works!


5. They hang around people who inspire them...

You are who you hang with...I am sure you have heard that before...Well based on Tom's research this turns out to be true...It makes sense to me, I have always wanted to hang around people who are successful if their personality is not whacked hehe...

Lesson for Wealthy Affiliate members: All of us working to have success with our online businesses are in the right place, because we have some very successful people you can draw inspiration from...Use this source, stay in touch, stay involved!


6. They chase their dreams and goals...

Most of Tom's wealthy participants are action takers...Tom's research showed that 80% of them were "obsessed with pursuing goals." They follow daily and long-term goals regularly. They develop a strategy, establish the goals, and then take action to accomplish them...

Pretty much you have the framework right here at Wealthy Affiliate to build what you are dreaming of. Since you have expressed an interest in affiliate marketing or online marketing, and have followed through by becoming a member here, this is the place from which to base yourself and build out your dreams and goals...

As with Tom's wealthy survey respondants, you must actively and aggressively take action to make Wealthy Affiliate work for you. Remember as you proceed that you are building your very own business and the ability to control your time to a much greater degree than if you do a 9-5 job...Chase that dream!


7. They get enough sleep...

This one surprised me: There were 89 percent of these self-made millionaires that get seven or eight hours or more of sleep a day. I find that is far more than I can manage, even though I would like to get more, years of habit of less makes it hard for me...

This is not the first time I have heard this...There has been an emphasis lately of many experts recommending more sleep...It is a good thing because it helps witth memory function, creativitiy, and your reasoning abilities, and your effectiveness in these areas will drop significantly if you have too little sleep...


8. They develop multiple sources of income...

Tom says that the wealthy participants developed multiple streams of income. Fully 65% had at least three streams of income working for them PRIOR to making their first million dollars...

This definitely is true...I can tell you from personal experience that if you do not do this, you are very vulnerable to the economic swings that happen from time to time in the world...It can hurt or destroy you if you have not done this...

Wealthy Affiliate provides training that complements more than one income stream online when you are ready. As many state here, I think it is better to focus and learn one method well, start having success, THEN add more streams as may fit for you...


Lastly...


9. They don't waste their time...

Time is one of the most valuable resources we have...Every second that passes is one less second you have in your life...Be aware of this and pick and choose when to waste time and when to focus and get work done...

Here at Wealthy Affiliate you can spend all your time creating blog posts on the site that really do not add anything to your online business, or you can spend a little less time creating content here and create it for your website instead...

What is NOT a waste of time is to taking some of it to evaluate what you are doing now and making any changes to use it more efficiently. There are periods when you do NOT want to regulate the time, but decide when this is the case - take charge of this valuable asset!


Conclusion

So there you have it...These essentially are some important things to consider as you go about your daily regimen, and as you work on implementing your strategy to create your own online marketing business that will give you independence and freedom...

What other habits do you think help with success? Are there some factors that Tom has left off his list based on your experiences? I do think that the basics are covered by Tom, and if we work to add these elements into our daily lives we will have more success...

Cheers!

Dave : )

Login
Create Your Free Wealthy Affiliate Account Today!
icon
4-Steps to Success Class
icon
One Profit Ready Website
icon
Market Research & Analysis Tools
icon
Millionaire Mentorship
icon
Core “Business Start Up” Training

Recent Comments

27

I exercise 5 days a week and I get annoyed when I don't.

Yes that is the same for me...On weekends I may chamge up the exercise just for some added variety...I no longer run marathons, so running lots has been replaced by swimming and some freeweights, etc....It is a stress relief for me! Cheers! Dave : )

1 - definitely. I get up at 6am every day, even on weekends.
2 - used to be, until I subscribed to Netflix.
3 - yes.
4 - yes.
5 - I don't spend much time with people.
6 - I try to.
7 - I try to.
8 - Working on it...
9 - I try not to.

I like your style Marcus! You are doing well M8! Thanks for stopping by....Cheers! Dave : )

Awesome list Dave.

Think the make/give no excuses is missing or "hidden" in the #6

Thnx for sharing..

Cheers

That is a good addition...See the others commenters have added oo...In totem lots of wisdom here! Cheers! Dave : )

Thank you Dave! I am definitely going to read that book!

It is a good one! Cheers! Dave : )

Thanks Dave.

Not a problem Gary! Cheers! Dave : )

Thanks Dave,
This is an excellent list to pin on your bulletin board or refrigerator .
Bill

Hi, Bill...Yes this is pretty much how I have measured my own efforts over the years, minus the sleep thing hehe...I do hope it will help you also keep the focus on the end game - success! Cheers! Dave : )

That is a fantastic idea! I think I might do that :D

Thanks Dave!
Bill

Two thumbs up! : )

Great! This is what I was hoping for...Something we can use regularly to keep us focused....Cheers! Dave : )

Thank you for sharing Dave. Great information!

Glad you can use the findings of Tom...I do believe he nailed it for the most part, and others here have added some additional great pointers for us all! Cheers! Dave : )

I would also add to Tom's list that successful people (and Gordon alluded to it) don't make excuses for themselves nor speak negatively about others.

Successful people realize that is not only a waste of valuable time and energy (#9A?), but if one believes in this as I certainly do, would create bad karma for themselves.

Yes both your points are true and need to be taken to heart and practiced all the time...Once yuu analyze clearly what you are doing or not doing, you can choose to fool yourself or fix what needs to be fixed, or...not...

Those that have the intestinal fortitude to take that hard look and work on what needs to be worked, are also the ones that get past the "I have this great idea..." stage...I have known a LOT of people that have good ideas, but no action...

The negative thing you mention is also very true...I have been around people that were looking to build themselves up by tearing others down...There was another post here recently on this subject...

I don't know about you, but I feel like these people suck the energy out of me, if I let them....These days, I have a short fuse for such people, I will cut them from my daily life to the maximum extent possible...

Good catches and thanks again M8!

Dave : )
.

You serve yourself well Dave by cutting these negative people out of your life. Nice!

I think so too, thanks...I have a little more lattitude to do this these days than in earlier times...Hehe, my low tolerence for stupid I guess some would say...We all can do it, it makes life so much nicer/smoother/less stressful... : )

Great post. Very constructive! The only difference (Point #1) for me is my daily "To Do" list starts in the wee-hours of the morning as I am a night owl. My most productive hours are from 12 Mid to 5am (lol..everyone at WA probably can see this!).it's not uncommon I finish a blog post at 6 am.

I also like you (Point #7) feel its so important but I'm guilty as well for having less than ideal sleep habits. Sporadic. Usually 4-5 hours per night, and 7-8 hours every 3rd night to recharge. That's a tough one to break since my mind is so active..

On Point #9, I maximize my time spending it writing blog posts for my website online business, but 80% of those post also get posted to WA. So they serve a dual purpose.

I'm bookmarking this one Dave, gonna re-read it periodically to keep me on track. Thanks.

Thanks for your input on this subject...I see a lot of posts that refer to one aspect or another of success here on Wealthy Affiliate, but I do like the succinct manner that Tom has wrapped it all up into simple points...

There are some points I have been in the habit of doing for years, starting at the tender age of 20, and some as you mention also that I have problems with (i.e. sleep)...

All these can serve as a good starting point for reviewing what you are doing or not doing, and what affect it is quite possibly having on your success or lack thereof...

Gordon has added an excellent additional point that I think is perhaps more valuable than some of the ones that Tom mentions...

I do hope that folks get a chance to have a look at the list plus the comments, there is so much wisdom for them to apply...

Cheers!
Dave : )

Thanks for sharing

You are more than welcome! I used to study successful people all the time to see what they were doing that I wasn't...Same with promotions (in the military, promotions refer to increases in rank/pay grade), look at the attributes those selected have and outdo them hehe...Did this for years too! Cheers! Dave : )

See more comments

Login
Create Your Free Wealthy Affiliate Account Today!
icon
4-Steps to Success Class
icon
One Profit Ready Website
icon
Market Research & Analysis Tools
icon
Millionaire Mentorship
icon
Core “Business Start Up” Training