Only 4% of poor people become rich, why is it so hard? With Tom Corley
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- Опубліковано 30 лип 2024
- Today we're going to dive into the world of wealth creation and breaking the cycle of poverty.
Joining me is Tom Corley, who's dedicated his career to understanding the behaviours that separate the rich and the poor. According to Tom's research, only 4% of people born into poverty become rich.
Now, that's a shocking statistic. Why is it so hard to break free?
What are those habits holding people back and, most importantly, what can be changed?
Tom's going to answer those questions, and we're going to discuss the habits and mindsets that contribute to poverty, the role of knowledge and mentorship, and how to overcome the limiting beliefs that keep people stuck.
No matter where you are on your wealth journey, I'm sure my chat with Tom will be of benefit to you.
Links and Resources:
Michael Yardney
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Tom Corley’s blog
Get your copy of Rich Habits, Poor Habits here- www.RichHabitsPoorHabits.com
Shownotes plus more here: Only 4% of poor people become rich, why is it so hard? With Tom Corley
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Have you ever wondered why the rich keep getting richer, and the poor can't catch up?
That's what Tom Corley and I discuss today
It is called ladder climbing..Just like the popular kids at school all trying to climb the ladder. But where are they now???Rehab..
I think it's by design. But, and this is important, you also need to ensure that the poor THINK they will be rich one day. And they are just temporarily poor.
My father died young I was 5 and then grew up in a housing commission home. I'm a high school drop out only completing year nine. I'm now nearly 50 and own so many properties with my wife. Its all about attitude we also started $50000 behind as my wife had a bad business debt and that's when you could by a house for $60 000 to $70 000 so it was a lot of money. I never listened to the negative people such as " you will never get there or you can't do that" and was always positive and we never complained about money, I think my biggest driver is to be free as I value time as the greatest commodity in the world , free to do what I want when I want. I agree with what Michael says at the end of this, enjoy your time and live in the moment and appreciate what you have and not what you don't have , some of my greatest times was when I had nothing. My mum used to say your health is the most important thing and I say love wins.
Well that's good for you..but you are not free to do what you want..So stop talking as if you battled you way through life and came out on top like a champion..it's not about you
@@emp731 you are such a rude person!!! Why not give the gentleman credit for what he's done? Just because you can't do it, just because you lost money when you invested doesn't mean others shouldn't asspire to live it better life.
@theycallmebruce69 well done! Unfortunately, you'll find a number of negative people leaving comments here and then wondering why the world is against them
@@MichaelYardney Hi Michael , Thank you for your support , my story was meant to inspire . The only thing Negative People do is drive me more. Keep up the good work as I love your interviews.
@@theycallmebruce69 I am inspired by people who think that reached the top by going along with it all. It's Despicable. And weak. Only makes me stronger.
Terrific, I agree with everything said. I am guilty of watching too many UA-cam videos. Ones like this are obviously very positive.
Yes just be positive and pretend everything is ok
@trythis2821 thanks for listening to our podcast
@emp731 it's interesting to see that you're not busy at work during the day. Instead, you are. trolling on the Internet have you ever wondered why you can't climb up the runs of the wealthy?
@@MichaelYardney I'm multitasking 😀
@@MichaelYardneyIt never rains does it? Show's you never had a job...Never built a house not even One have you? So shooosh 🤫
Excellent Michael Excellent
@CookieMonster-wy4qb Thanks
Which part?
@emp731 you would know if you took the trouble to listen to it
@@MichaelYardney don’t give the cockroach any oxygen Michael
@@MichaelYardneythat's the problem Michael.. Been listening too much to other people who think they know..I listen to myself..
This is a good perhaps even inspirational episode
@StamatisSkiadas thanks for listening to our podcast
Which part?
Because it's difficult by design
@emp731 if you took the trouble to listen, you would know the real answer
@@MichaelYardneyyou don't have answer's Michael..only God almighty has the answers..Not you..
I agree!
There's a big gap to that bottom rung, but once you get there, it becomes logarithmically easier to keep climbing. Most people look at that bottom rung, think "I'll never get there" and give up
By way of example, it took my wife & I 10 years to save 250k for a deposit, but 2 years to double that with equity. Looking back would we do those first 10 years differently? Absolutely, but if you don't know you don't know, you don't know to even look. That's why podcasts like this are so fundamentally important.
@edwin5419 thanks for listening and your inspirational comment
Some people need 'stuff'' to justify their existence...Take their stuff away and they no longer exist. Their stuff and their lives were intermingled. Thats sad.
@@emp731 and some people need to cleanse themselves of all Earthly possessions in order to feel holier than everyone else. To each their own
@@edwin5419 But it's NOT each to their OWN is it?? Is that what you told yourself when you took the jabs?
This is eastern mindset as well, this is why Indians and chinese and jews are success driven
They are not Aussies tho are they..
@@emp731 the answer is that Aussie also. Your forefathers would've come from a different country many years ago or are you aboriginal?
@@MichaelYardney Did aboriginals create Australia??When people first arrived from other countries was there cities ,highways,electricity,hospitals ready to go was there?
@@MichaelYardney Don't try that bs with me Michael..The gov is looking after migrants better than it's own people.I am a proud aussie my ancestors built this country. And guess what,your political agenda is not taking it over.
@emp731 but your ancestors were also migrants - where would you be if they were not allowed in Australia when they came?