How 5-Minute Phone Calls Could Make You Rich
Mike Hewitt / Getty Images
Why would we, when we could text or email and deal with our friends and families at our convenience (it got lost in my inbox!)?
Well, finds Thomas Corley, maybe we should do it because it could make us rich.
Corley, the author of "Rich Habits: The Daily Success Habits Of Wealthy Individuals," spent five years studying the lives of both rich people (defined as having an annual income of $160,000 or more and a liquid net worth of $3.2 million or more) and poor people (defined as having an annual income of $35,000 or less and a liquid net worth of $5,000 or less).
He managed to segment out what he calls "rich habits" and "poverty habits," meaning the tendencies of those who fit in each group.
One of those rich habits is simply making phone calls.
According to his research, 80% of wealthy people make birthday calls, hello calls, and life event calls, compared to 11%, 26%, and 3% of poor people, respectively.
These numbers are in line with one of Corley's larger findings: Wealthy people value their relationships, and think those connections helped them get where they are. In fact, 88% of rich people agree with the statement, "Relationships are critical to financial success," and 68% of them say they love meeting new people.
Corley himself even credits a windfall of $60,000 to getting into the habit of making a few simple phone calls, after these check-ins secured him the job of rolling over a wealthy new client's 401(k) funds in his accounting business.
Does calling your friends on their birthdays guarantee an influx of cash? Of course not. But on the other hand, it certainly couldn't hurt.
- Top temples to visit in India you must visit atleast once in a lifetime
- Top 10 adventure sports across India: Where to experience them in 2024
- Market recap: Valuation of 6 of top 10 firms declines by Rs 68,417 cr; Airtel biggest laggard
- West Bengal Elections: Rift among INDIA bloc partners triggers three-cornered intense contests
- Angel Investing Opportunities
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market