Study Reveals Daily Goal-Setting Fuels Millionaire Success

A recent five-year study led by financial author and behavioral expert Tom Corley highlights the importance of daily goal-setting as a significant factor in wealth accumulation. The research, which analyzed the habits of 233 wealthy individuals compared to 128 poorer participants, found that 67% of the affluent set specific goals each day, while 70% write these goals down and 76% regularly review their progress. Corley’s findings were published in Entrepreneur Magazine and form part of his broader Rich Habits research.

Corley dedicated five years to studying the routines of high-net-worth individuals and concluded that this daily practice fosters discipline, focus, and momentum. These qualities are essential for navigating the unpredictable landscape of entrepreneurship and wealth creation. In his article, Corley states, “Success isn’t a stroke of luck—it’s a habit forged through deliberate, daily effort.”

The methodology he proposes is straightforward. Goals should be aligned with one’s vision, broken down into daily actionable steps, documented, tracked, and reflected upon regularly. Corley emphasizes, “Five minutes each morning to set priorities can transform your trajectory over time.” This simple yet powerful routine differentiates millionaires from the general population.

In contrast to the habits of most people, Corley’s study indicates that wealthy individuals cultivate a sense of purpose and structure through goal-oriented behavior. By establishing clear, actionable objectives each day, they are better positioned to prioritize tasks, minimize distractions, and effectively measure their progress.

Another notable aspect of the study is the intentional use of time among millionaires. According to research by Jobera, 67% of wealthy individuals watch less than one hour of television daily, while 63% spend less than one hour online. This preference for focused, goal-driven activities over passive consumption appears to play a role in their financial success.

Common Traits of Successful Individuals

Corley’s research also identifies additional habits prevalent among millionaires that reinforce the idea that wealth results from consistent, intentional choices rather than merely high income or fortunate investments. As noted on a blog by Bear Savings, “Whether you’re starting from scratch or trying to scale up, these habits form the foundation for long-term wealth.”

Experts suggest that adopting the millionaire mindset is accessible to anyone willing to incorporate goal-setting into their daily routine. The process requires minimal resources—a notebook, a few minutes of reflection, and a commitment to consistency. Financial coach and author David Bach often emphasizes that building wealth is more about intentional habits than income. He remarked, “You don’t need to be rich to live rich,” underscoring that a mindset rooted in purposeful action is essential for lasting financial well-being.

Ultimately, while no guaranteed formula exists for attaining millionaire status, evidence suggests that daily goal-setting serves as a strong predictor of success. It is a habit that incurs no cost, demands little effort, and yields compounding benefits over time. As illustrated by Corley’s research, the difference between thriving and merely surviving may hinge on what individuals choose to do each morning. For 67% of millionaires, starting the day with purpose is a critical habit that contributes to their financial achievements.