Word Of the Week #581: Wealthy

September 23, 2015 by  

Wealthy – having an abundant supply of money or possessions of value.

Do you have all the money and possessions of value you want? Have you ever wondered how wealthy people achieve all they have? How much of your attention is focused on attaining the level of wealth you want?

I felt this San Diego UT article “THINGS WEALTHY PEOPLE DO EVERY DAY” by Lou Carlozo was a great follow up to last weeks’ WOW on Attention. This week features the first four things.

So, what do the well-to-do do daily? That is, besides ask the butler to clear the tablecloth with one of those chrome crumb-scraper things?

It’s true that money can’t buy many things – but some things can buy money, and wealthy people practice them daily.a wealthy

  • They have a to-do list. Tom Corley, the president of Cerefice & Company accounting firm in Rahway, N.J., conducted a self-styled, five-year study on wealthy people (defined as having an annual income of $160,000 or more and a liquid net worth of $3.2 million or more) and poor people (defined as having an annual income of $35,000 or less and a liquid net worth of $5,000 or less). His results appear in the book, “Rich Habits: The Daily Success Habits of Wealthy Individuals.” When Corley asked about to-do lists, 81% of rich people said they kept them, compared to 19% of those in poverty. Two-thirds of wealthy listers complete 70% or more of their daily tasks.
  • They keep their cool. To write his 1937 book “Think and Grow Rich,” author Napoleon Hill studied the habits of more than 500 wealthy people. He learned that those who overreact make a poor impression. As Hill wrote in another essay, “Remember that silence may be much more effective than your angry words.”
  • They don’t watch TV. The wealthy make productive use of time, as Corley relates on his “Rich Habits” website. Only 23% of the rich watch more than an hour of TV a day, compared with 77% of the poor.
  • They read Financial Times. Go ahead, make fun of those salmon-colored newsprint pages; the Financial Times crowd is laughing all the way to the bank. In February, Harvard’s Nieman Foundation ran an article on the Financial Times’ supposed struggles. Its website ranks only 44th in the U.S. business news category, the article stated, but it appears some folks are counting the wrong numbers. The piece also cites FT’s own stats, which estimate average subscriber income at $250,000 while 13% of readers are millionaires.”

This week’s focus is on how wealthy you want to be. How good are you at keeping your cool? How much time do you spend watching TV? Do you have a daily to-do list? What percentage of it gets accomplished?

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