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In a world obsessed with becoming rich, true prosperity lies in “time wealth” – the freedom to control how you spend your time, unburdened by employer or work obligations that make you feel enslaved. Creating Time Wealth, however, requires an upfront investment of your time in creating an asset that can be monetized, generating a secondary stream of income.
Drawing from my Rich Habits research, in which I interviewed 233 millionaires and 128 individuals struggling with poverty, I learned that the self-made wealthy treat time as their most precious asset. They wake up early — 55% woke up three or more hours before their actual formal workday began. During those early morning hours they focused on three things:
- Daily Self-Improvement – 30 minutes or more devoted to reading to learn more about their job/career/industry or activities in the pursuit of some dream or large goal
- Daily Exercise – 30 minutes or more or running, jogging, biking, walking, weight resistance exercises.
- Non-Job-Related Extracurricular Activities – This could be managing a monetized side gig, study/homework related to a degree or certification, non-profit board responsibilities, speaking gigs, teaching and many other productive things.
In my Rich Habits Study, 88% of millionaires read for at least 30 minutes daily, focusing on personal development, while 76% exercise aerobically four days a week. This disciplined routine sharpens focus and builds resilience, allowing them to pursue and build multiple income streams without burnout. Entrepreneurs in the study amassed $7.4 million in just 12 years by leveraging time efficiently, compared to 32 years for saver-investors.
Third-party research echoes my research/study findings.
Warren Buffett attributes his success to reading extensively, often all day, prioritizing deep focus over scattered busyness.
Bill Gates employs time-blocking, reserving chunks for high-priority activities like strategic thinking.
Many self-made millionaires apply the Pareto Principle (80/20 Rule) to the productive use of their time. Billionaires like Elon Musk focus 80% of his efforts on 20% of tasks that yield maximum results.
The productive use of time is the engine that drives both financial wealth and, ultimately, time freedom. By consistently applying Rich Habits—such as early rising, daily learning, goal-setting, and ruthless prioritization—self-made millionaires compound small daily efforts into building significant assets over time.
As my research highlights, making productive use of time is a common Rich Habit of the wealthy, while wasting time is a common Poor Habit of the poor.
This disciplined approach to efficiently using one’s time is how many of the self-made millionaires in my Rich Habits Study generated multiple income streams, accelerating wealth accumulation, and eventually creating financial independence or wealth.
Once financial security is achieved, the real payoff emerges: Time Wealth – the ability to reclaim control over your hours, free from mandatory work obligations.
Studies on Time Wealth confirm that it boosts well-being, reduces stress, and enables pursuits that matter most.
Wealth built through intentional time management isn’t just about accumulating money – it’s the pathway to a life where time becomes the real wealth, allowing purposeful living, forging deeper relationships, and the freedom to use your time as you please.
To cultivate Time Wealth, wake up 3 hours early and devote those 3 hours to the following Rich Habits:
- Growing your knowledge/skills
- Pursuing a dream or major goal &
- Exercise
Tom Corley is an accountant, financial planner and author of “Rich Kids: How to Raise Our Children to Be Happy and Successful in Life”, “Effort-Less Wealth”, “Change Your Habits Change Your Life”, “Rich Habits Poor Habits”, “Rich Habits: The Routines Millionaires Use Daily to Build Wealth” and “Rich Habits Wealth Academy.”
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