20 Must-Know Habits of Self-Made Millionaires

For five years, Tom Corley studied the daily habits of rich and poor people and identified those activities that the rich had in common. This led to the best-selling book Rich Habits: The Daily Success Habits of Wealthy Individuals. In his latest book, Change Your Habits, Change Your Life, Corley describes the habits that helped ordinary people become self-made millionaires. Here are 20.

/money/photos/habits-of-self-made-millionaires/ 14427

Thinkstock

1 / 20

1. They Read a Lot

According to Corley, the rich spend at least half an hour a day reading. They tend to choose reading matter for education and self-improvement, such as self-help books, biographies of other successful people and history.

Thinkstock

2 / 20

2. They Work Out

Corley found that more than three-quarters of the rich do some kind of aerobic work-out for at least half an hour every day. This increases the production of glucose, which is fuel for the brain.

3. They Associate With Other Successful People

Thinkstock

3 / 20

3. They Associate With Other Successful People

Corley says that the rich surround themselves with others who are optimistic, enthusiastic, goal-oriented and positive. They also avoid those who are negative and destructive in their criticism.

4. They Chase Their Own Dreams and Goals

Thinkstock

4 / 20

4. They Chase Their Own Dreams and Goals

Instead of pursuing the future that others want for them, the rich decide their own dreams and goals and then pursue these with passion and determination.

Thinkstock

5 / 20

5. They’re Early Risers

Corley found that about half of the rich people he studied were in the habit of getting up long before their workday actually started. They would then tackle the things they wanted to accomplish that day, without interruptions and distractions.

6. They Don’t Rely on One Source of Income

Thinkstock

6 / 20

6. They Don’t Rely on One Source of Income

The self-made millionaires he studied tend to have multiple sources of income, Corley found. These include investments in the stock market, renting out property and being part-owners in other businesses.

Thinkstock

7 / 20

7. They Rely on Mentors

According to Corley, successful people rely on mentors from whom they can learn valuable life and business lessons. This has made their own road to success smoother and faster.

Thinkstock

8 / 20

8. They Have a Positive Outlook

All of the self-made millionaires that Corley studied had a positive mental outlook. He says that you need to become aware of your thoughts because this will make you realize which of those thoughts are negative.

9. They Aren’t Afraid to Stand out From the Crowd

Thinkstock

9 / 20

9. They Aren’t Afraid to Stand out From the Crowd

According to Corley, most people fail to be successful because they’re too afraid to stand out. Successful people, in contrast, not only separate themselves from the herd but create a new herd and then get others to join.

Thinkstock

10 / 20

10. They Have Good Manners

Corley says that to be successful, you need to have good etiquette. This includes everything from having good table manners to being polite and knowing how to dress appropriately.

Thinkstock

11 / 20

11. They Give Others a Hand

Corley says that a key to success is to have a good team behind you. The best way to create your team is to help like-minded people to succeed.

Thinkstock

12 / 20

12. They Dedicate Time to Thinking

According to Corley, successful people spend at least fifteen minutes every day just thinking. They tend to brainstorm about ways to become more successful, how to create their own health and happiness and how to help others.

Thinkstock

13 / 20

13. They Look for Feedback

Corley says that feedback is crucial to success because it will help you see what you are doing right and what you are doing wrong.

Thinkstock

14 / 20

14. They Live Within Their Means

In an article he wrote for Success magazine, Corley also highlighted some of the habits that set rich people apart from poorer people. One of these is that rich people live within their budget and put away a fifth of their net income as savings.

Thinkstock

15 / 20

15. They Create Their Own Good Luck

According to Corley, rich people create their own good luck by letting their good habits lead to opportunities. They don’t believe in bad luck and they don’t gamble.

Thinkstock

16 / 20

16. They Network and Volunteer

Corley says that three quarters of wealthy people spend at least five hours a month networking and volunteering. Through volunteering, they not only give back to the community but also meet other successful people, which can lead to new business relationships.

Thinkstock

17 / 20

17. They Go the Extra Mile

Successful people, according to Corley, don’t believe in not doing something because it’s not part of their job. They go the extra mile and make themselves invaluable.

Thinkstock

18 / 20

18. They Don’t Procrastinate

Corley says that successful people avoid procrastination. They know that putting off things until the last minute will lead to poor quality and damaged relationships with employers and customers.

Thinkstock

19 / 20

19. They Listen

According to Corley, wealthy people are good listeners because this will help them to learn. Corley suggests that you spend five minutes listening for every minute you spend talking.