{"id":112381,"date":"2024-12-11T10:00:00","date_gmt":"2024-12-10T23:00:00","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=112381"},"modified":"2024-10-03T11:41:44","modified_gmt":"2024-10-03T01:41:44","slug":"rich-habits-poor-habits-the-1-will-always-control-the-wealth-because-they-know-how","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/rich-habits-poor-habits-the-1-will-always-control-the-wealth-because-they-know-how\/","title":{"rendered":"The 1% Will Always Control the Wealth Because They Know How"},"content":{"rendered":"

I just finished reading an article complaining about the rich.<\/p>\n

The author was upset at the fact that 1% controlled 82% of the wealth in the world.<\/p>\n

In the author\u2019s mind, there was something inherently unfair about this.<\/p>\n

The author, like many who are not in the 1%, felt that the wealth the 1% created didn\u2019t necessarily belong to them and offered government solutions to cap or redistribute the wealth of the rich.<\/p>\n

It\u2019s true.<\/p>\n

One per cent does control 82% of the wealth.<\/p>\n

And the top 1% will always control most of the wealth until the other 99% figure out how the 1% go about cultivating wealth.<\/p>\n

So, how do the 1% cultivate wealth?<\/p>\n

\"Wealthy<\/p>\n

The top 1% cultivate wealth by doing certain things:<\/h2>\n
    \n
  1. Read to Learn Every Day \u2014<\/strong> 88% of the rich in my Rich Habits Study read 30 minutes or more every day to learn.<\/li>\n<\/ol>\n

    Reading is work. But it\u2019s work that is necessary if you want to become rich.<\/p>\n

    Rich people read because they know that knowledge can be leveraged to gain wealth.<\/p>\n

    The more you know about your field, career, or industry, the more valuable you are to those you service or sell to in your field, career, or industry.<\/p>\n

    2. Deliberate Practice \u2014<\/strong> 69% of the rich in my study practised some specific skill for two or more hours every day.<\/p>\n

    Deliberate practice requires conscious practice as opposed to unconscious practice. \r\n\r\n\r\n

    <\/div><\/p>\n

    Conscious practice is a practice in which you study everything you do that goes into the skill you have.<\/p>\n

    It\u2019s about studying the intricate details that enable you to become a virtuoso at what you do.<\/p>\n

    3. Pursue Long-Term Goals or a Dream \u2014<\/strong> 70% of the rich in my study pursued some long-term goal or some dream.<\/p>\n

    This is what really drives the disparity between the 1% and the other 99%.<\/p>\n

    Pursuing big goals or dreams creates the opportunity for good luck to happen.<\/p>\n

    The majority of the 1% are beneficiaries of good luck \u2013 but good luck they put themselves in a position to receive.<\/p>\n

    4. Focus on Daily Goals \u2014<\/strong> 62% of the rich in my study focused on their daily goals.<\/p>\n

    5. Save \u2014<\/strong> 94% of the rich in my study saved 20% or more of their income every year.<\/p>\n

    6. Be Frugal With Your Money \u2014<\/strong> 67% of the rich in my study were frugal with their money.<\/p>\n

    They spent their money thoughtfully, not emotionally.<\/p>\n

    They buy the best-made quality products at the cheapest prices.<\/p>\n

    This requires study,\u00a0 patience and delayed gratification.<\/p>\n

    7. Forge Rich Relationships \u2014<\/strong> 68% of the rich in my study forged relationships with other upbeat, success-minded people.<\/p>\n

    These are people who can open doors for you.<\/p>\n

    They are individuals who are either trying to become the 1% or are the 1%.<\/p>\n

    This 1% have powerful relationships with other 1% of individuals.<\/p>\n

    \"Friends\"<\/p>\n

    8.\u00a0 Volunteer \u2014<\/strong> 72% of the rich in my study volunteered 5 hours or more a month.<\/p>\n

    Why volunteer?<\/p>\n

    Most of the boards and committees in local non-profits are run by successful people within the community.<\/p>\n

    9. 5 AM Club \u2014<\/strong> 44% of the rich in my study woke up 3 or more hours before they began their workday to pursue dreams, goals, read, be productive, etc.<\/p>\n

    Waking up early is important.<\/p>\n

    It allows you to get things done first thing in the day which helps move you forward in life.<\/p>\n

    10.\u00a0 Become a Decision Maker at Work \u2014<\/strong> 91% of the rich in my study were the decision-makers where they worked.<\/p>\n

    If you want to control the outcome of your life you need to be a decision-maker.<\/p>\n

    11. Do Work You At Least Like \u2014<\/strong> 86% of the rich in my study liked what they did for a living.<\/p>\n

    When you like what you do, you will devote more time to doing it.<\/p>\n

    More time in honing your skills.<\/p>\n

    More time in reading to learn everything about your vocation.<\/p>\n

    More time in building relationships with other success-minded people within your industry or field.<\/p>\n

    More time devoted to improving yourself makes you more valuable.<\/p>\n

    Everyone wants to be on top of the mountain but few are willing to make the climb.<\/p>\n

    The 1% control 82% of the wealth because the 1% are willing to climb the mountain.<\/p>\n

    If you want to be one of the 1%, you need to start climbing.<\/p>\n

    You need to do the things that cultivate wealth.<\/p>\n\r\n\r\n\r\n

    <\/div>\r\n
    <\/div>\n","protected":false},"excerpt":{"rendered":"

    I just finished reading an article complaining about the rich. The author was upset at the fact that 1% controlled 82% of the wealth in the world. In the author\u2019s mind, there was something inherently unfair about this. The author, like many who are not in the 1%, felt that the wealth the 1% created…<\/p>\n","protected":false},"author":72,"featured_media":145649,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,653],"tags":[1026,759],"class_list":["post-112381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-property-updates","category-personal-finance","tag-poor-habits","tag-rich-habits"],"acf":[],"yoast_head":"\nThe 1% Will Always Control the Wealth Because They Know How<\/title>\n<meta name=\"description\" content=\"I just finished reading an article complaining about the rich. The author was upset at the fact that 1% controlled 82% of the wealth in the world. 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