Entrepreneurs on Fire
8 Ways Ordinary Individuals Become Self-made Millionaires with Tom Corley
Apr 1, 2025
Tom Corley, a CPA and bestselling author of the Rich Habits series, shares invaluable insights on building wealth. He reveals that successful entrepreneurs often possess specific personality traits and emphasizes the importance of having a clear vision for wealth. Corley discusses the four paths to wealth and the crucial distinction between good and bad debt. Listeners will learn about wealthy habits like daily exercise and goal-setting, and the pivotal role of relationships in achieving financial success. Tune in for actionable strategies on the journey to becoming a self-made millionaire!
25:33
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Quick takeaways
- Self-made millionaires often follow distinct paths to wealth, such as disciplined saving and investment or corporate advancement, each accounting for varying percentages of success.
- Achieving long-term goals requires a structured dream setting process, including envisioning an ideal future, outlining dreams, and setting actionable goals to ensure motivation.
Deep dives
Four Paths to Wealth
There are four primary paths individuals can take to accumulate wealth, according to research on self-made millionaires. The first path, the saver-investor path, comprises those who focus on disciplined saving and investment, accounting for 49% of successful individuals. The second path is the big company climber path, highlighting those who gain wealth through stock compensation and corporate advancement, representing 18%. The smallest groups include the virtuoso path, which involves highly skilled individuals like artists or scientists, and the dreamer entrepreneur path, which is marked by those who creatively solve problems and typically accumulate wealth the fastest.
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