Podcast #103 with Thomas Corley of Rich Habits

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Episode 103

Summary

In Episode #103 Ari talks with Thomas Corley, the creator and author of two books: Rich Habitsand Rich Kids. Over the course of the 30 minute interview, Ari and Thomas dive into some of the key lifestyle habits shared by the rich, reviewing everything from self-education to the oft overlooked importance of etiquette.

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Time Stamped Show Notes

  • 00:45 – Ari introduces his guest co-host, Nick Sonnenberg, CEO of Calvin
  • 18:23 – Interview with Thomas Corley begins
  • 18:36 – Why did Thomas decide to conduct the study and write his books, Rich Habits andRich Kids
  • 18:43 – Thomas explains the origins of Rich Habits
  •  22:00 – One of the fundamental differences in the daily habits between the rich and poor
  •  23:19 – The discovery of which keystone habits make the difference
  •  25:16 – How much is causal?
  •  25:47 – The habits are small, incremental things done every day that facilitate a compounding effect that – eventually – leads to success
  • 26:55 – The one “Rich Habit” Thomas followed every day before he knew what the Rich Habits were
  • 27:40 – 57% of the “rich” people in Thomas’ study tracked their caloric intake
  • 28:39 – Walking in the footsteps of the wealthy
  • 28:49 – The role of exercise as it pertains to rich people, specifically aerobic exercise
    • 29:15 – 76% of rich people exercise for at least 30 minutes per day, four days a week
  • 29:49 – The role of aerobic exercise in the promotion of neurogenesis
  •  31:00 – The role of morning rituals
  •  31:12 – 88% of the rich read non-fiction and for-purpose for 30 minutes every day
  •  33:00 – The value of networking, subconsciously or consciously, cannot be understated
  • 33:30 – Relationships are the currency of the wealthy
  • 34:30 – Rich Kids is really a book about successful mentoring
  • 37:07 – How often are the mentors of the rich family versus non-family?
  • 38:45 – What are the best, and worse, habits to instill in children?
  • 40:28 – The 5:1 rule; for every minute you talk, listen for five
  • 40:40 – Improve your eating etiquette
  • 45:30 – You do certain things without thinking and people notice
  • 46:00 – What are your top 3 tips to help people be more effective?
    • 46:09 – Reading (nonfiction) 30 minutes per day
    • 46:30 – Aerobic activity at least 4 days a week
    • 46:39 – Do certain things to build relationships, but do them face to face or over the phone; no email, Facebook, Twitter, etc.

7 Key Points

  1.        Rich habits are small, everyday things that – over time – compound to create the opportunity for success
  2.        76% of rich people perform aerobic exercise for at least 30 minutes a minimum of 4 times per week
  3.        88% of rich people read for self-education a minimum of 30 minutes per day
  4.        Aerobic exercise is strongly correlated to neurogenesis
  5. Relationships are the currency of the wealthy
  6.        Employ the 5:1 Rule; for every minute spoken, listen for five
  7.        We do certain things without realizing them and the people around us notice; be aware of yourself

Resources Mentioned

  • Rich Habits – The home website of Tom Corley and Rich Habits
  • EverContact – A contact manager software that automatically updates your Gmail & Outlook address books by analyzing email signatures
  • The Ambulance Drone – A drone that’s enabled with an AED designed to enhance paramedic response to cardiac arrest
  • The Maid Oven – A smart-oven that knows what to cook and how to cook it
  • Fugu Luggage – The storage of checked luggage in the form of carry-on luggage
  • InstaGrade – A program that lets people create a quiz on a computer and then grade the exam instantly with the iPhone
  • Journey Into the Deep Web – An article from MakeUseOf.com exploring offering a basic overview of the “deep web”
  • The Truth About Superfoods – An interesting infographic illustrating the truth surrounding some “superfoods”
  • Law Student “Schools” Police Officer – A YouTube video depicting an unnamed man defending his right to carry a firearm unimpeded
  • Magician Tries to Sell Police Officer Marijuana – A YouTube video where a magician attempts to sell marijuana to a police officer

Credits