American financier Tom Corley, CPA and CFP, spent five years studying the daily habits of 233 wealthy people (177 of whom built their fortunes from scratch) and 128 people living in poverty.
👇 Here’s what he found out (the 2nd point is especially interesting):
🔘 How long does it take to become rich?
Corley identified two main paths. Those who saved and invested while working as employees reached an average net worth of $3.3 million in 32 years. Entrepreneurs who reinvested profits back into their businesses reached $7.4 million in 12 years.
🔘 Where do they spend their free time?
88% of millionaires spend at least 30 minutes daily on self-education, such as personal development or industry-specific books.
77% of low-income people spend more than an hour a day watching TV, scrolling social media, and consuming other forms of entertainment.
From a one-year perspective, that’s 180 hours of education versus 365 hours of entertainment. Now imagine the gap after 10 years.
🔘 Goals and immediate action
80% of millionaires set specific long-term goals and work toward them daily.
Corley identified a common trait among successful entrepreneurs: a “do it now” mindset. They don’t constantly postpone things. They take small steps toward big goals every single day.
🔘 Mentorship
93% of millionaires who had mentors attributed a significant part of their success to them.
✅ As a result, Corley came to this conclusion:
Wealth is built through daily decisions that most people refuse to make.
Reinvest instead of withdrawing. Learn instead of endlessly scrolling. Start building a skill or a business today. No desire? That’s exactly why it works, and exactly why so few people stay consistent for years.
How many years does it take to achieve your own goals?