From Millionaire to Broke, Plus the Habits of the Rich, with Tom Corley

From Millionaire to Broke, Plus the Habits of the Rich, with Tom Corley

#10: OMG! It's Tom Corley, the RICH HABITS guy! Jay is having a heart attack. Tom Corley studied self-made millionaires and poor people to come up with some interesting results. He wrote about it in a story called "Rich Habits". Tom shares his story of being well off as a child before his dad lost everything. Then he worked hard to bring himself up to not-broke status and on to becoming an accountant. After studying some of his clients he expanded to 233 self-made millionaires and 150 poor people. The results of those studies were very telling - but nobody really cared about it. Then he got a break when Farnoosh Torabi did a segment about the Rich Habits on Yahoo Finance. The rest is history in the making. Watch for Tom Corley's new book - Change Your Habits, Change Your Life - which gives more of the "how to" rich habit change. You can find it at http://ChangeYourHabitsBook.com For links to some of Jay's favorite Tom Corley articles, visit https://affordanything.com/episode10 Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Episoder(805)

My Bank Account Hit Zero ... Then I Got Rich -- with Jaspreet Singh of Minority Mindset

My Bank Account Hit Zero ... Then I Got Rich -- with Jaspreet Singh of Minority Mindset

#759: At 19, Jaspreet Singh bought a rental for $8,000. What followed was a nightmare tenant, a lawsuit, and a later house stripped of its copper, and it taught him what the real estate books leave ou...

16 Okt 1h 42min

Q&A: "I’m 26 and No Longer Motivated by Money. Am I Unemployable?”

Q&A: "I’m 26 and No Longer Motivated by Money. Am I Unemployable?”

#758: Joe says that if you tell an employer you’re not motivated by money, you’re unemployable. Paula says that’s exactly the person she wants to hire. Former financial planner Joe Saul-Sehy joins Pa...

13 Okt 1h 12min

Steve Jobs Hated the Name “Genius Bar.” How He Came Around, with Ron Johnson

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#757: Ron Johnson is the creator of the Apple Stores and former CEO of JCPenney. At age 24 Ron Johnson turned down a $120,000 Goldman Sachs offer to unload trucks for $40,000, and that detour led Stev...

9 Okt 1h 48min

How Losing $500K in ‘08 Led One Trader to a Different Kind of Portfolio, with Jared Dillian

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#756: In September 2008, Jared Dillian watched about half a million dollars of Lehman Brothers stock go to zero in a single week. He wasn't allowed to sell any of it. What he built afterward is a port...

6 Okt 52min

First Friday: AI, Debt, and a Social Security Shortfall. Should Your Money Plans Change? With Rob Berger

First Friday: AI, Debt, and a Social Security Shortfall. Should Your Money Plans Change? With Rob Berger

#755: Many retirees fear running out of money more than they fear dying. AI is reshaping the economy, the U.S. now spends over $1 trillion on interest, and Social Security faces a shortfall. Rob Berge...

2 Okt 1h 9min

Q&A: We Have $80K in Cash and Want a 1–2 Year Sabbatical. Is It Enough?

Q&A: We Have $80K in Cash and Want a 1–2 Year Sabbatical. Is It Enough?

#754: Four months of savings in the bank, a goal of eight, and a career break she's excited to fund. Does everything else really have to wait? Paula and Joe's answer: don't turn your emergency fund in...

29 Sep 1h 14min

Why 60,000 New York Apartments Sit Empty in a Housing Crisis, with Kenny Burgos

Why 60,000 New York Apartments Sit Empty in a Housing Crisis, with Kenny Burgos

#753: New York City is short roughly half a million homes, yet at least 60,000 rent-regulated apartments sit empty. Under current rules, many owners lose less money by leaving them vacant than by fixi...

25 Sep 1h 25min

Q&A: I’m Tired of Managing My Rental Property. Should I Sell It?

Q&A: I’m Tired of Managing My Rental Property. Should I Sell It?

#752: A caller's rental is performing fine, but a late-paying tenant and a roof replacement have her ready to sell it before she moves to Madrid for her MBA. Paula argues the real fix isn't selling — ...

22 Sep 1h

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