How self-made millionaires get rich by working for someone else
Dec 18, 2017, 13:08 IST
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Tom Corley: There's really three groups of millionaires. Hi, this is Tom Corley. I'm the author of "Rich Habits."
Tom Corley studied 233 millionaires for 5 years
There are the savers. This is the group that takes the longest, 32 years. There are the entrepreneurs. This is the group that takes the least amount of time and accumulates the most wealth. And then there is the- what I call the executives.
The executives are individuals that work for big companies. And they participate in their stock compensation, usually publicly-held companies. They get bonuses and stock compensation. These individuals figure out how to make themselves unfireable.
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And they do certain other things. "Hello calls." These are calls that they make just to say hello to people. To build and forge powerful relationships. They make happy birthday calls. They make life event calls. These are calls when someone who's in the hospital because they're sick, has a baby, gets married. So they're doing these kind of things.
They're also developing power relationships with influencers. These could be influencers within their company but they could also be influencers within their industry. Many of the self-made millionaires in my book joined trade groups and became industry experts this way.
Thomas Corley is the author of "Rich Habits: The Daily Success Habits of Wealthy Individuals," and "Rich Kids: How To Raise Our Kids To Be Happy And Successful In Life."
Image Credits for the Associated image: CoWrks