The 1% Will Always Control the Wealth
The 1% Will Always Control the Wealth
Post From Rich Habits By Tom Corley
The 1% Will Always Control the Wealth – And Here’s How They Do It
I just finished reading a recent 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’s 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 didn’t necessarily belong to them and offered government solutions to cap or redistribute the wealth of the rich.
It’s true. One percent do control 82% of the wealth. And the top 1% will always control most of the wealth until the other 99% figure out how the 1% go about cultivating wealth.
So, how do the 1% cultivate wealth?
The top 1% cultivate wealth by doing certain things:
Read to Learn Every Day – 88% of the rich in my Rich Habits Study read 30 minutes or more every day to learn. Reading is work. But it’s work that is necessary if you want to become rich.
Rich people read because they know that knowledge can be leveraged to gain wealth. 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.
Deliberate Practice – 69% of the rich in my study practiced some specific skill for two or more hours every day. Deliberate practice requires conscious practice as opposed to unconscious practice.
Conscious practice is practice in which you study everything you do that goes into the skill you have. It’s about studying the intricate details that enable you to become a virtuoso at what you do.
Pursue Long-Term Goals or a Dream- 70% of the rich in my study pursued some long-term goal or some dream. This is what really drives the disparity between the 1% and the other 99%.
Pursuing big goals or dreams creates the opportunity for good luck to happen. The majority of the 1% are beneficiaries of good luck – but good luck they put themselves in a position to receive.
To continue reading, please go to the original article here:
http://richhabits.net/the-1-will-always-control-the-wealth-and-heres-how-they-do-it/#more-11953