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Freakonomics Radio

152. Everybody Gossips (and That’s a Good Thing)

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.632K Ratings

🗓️ 23 January 2014

⏱️ 35 minutes

🧾️ Download transcript

Summary

The benefits of rumor-mongering

Transcript

Click on a timestamp to play from that location

0:00.0

Tom is Corley has made a habit, a career, really, of studying the difference between rich

0:09.3

people and poor people.

0:11.2

44% of the wealthy wake up three hours before work starts versus 3% for the poor.

0:18.3

Corley is an accountant and a financial planner in New Jersey.

0:20.8

He wrote a book called Rich Habits, the Daily Success Habits of wealthy individuals.

0:25.8

He did five years worth of research.

0:28.0

I interviewed 233 wealthy people and 128 poor people and when I was done there was about

0:34.1

149 metrics that I followed or I tracked.

0:38.0

By wealthy, Corley means annual income over $160,000 and net liquid assets of 3.2 million.

0:45.1

By poor, he means income less than $35,000 and net liquid assets of less than 5,000.

0:52.6

There were a lot of differences between these two groups.

0:56.0

Many people spend 30 minutes or more every morning doing technical reading, some type of

1:02.8

technical self improvement reading.

1:04.5

They also keep track of things.

1:06.3

Oh, 81% of the wealthy maintained it to do list versus 19% for the poor.

1:11.1

Corley found that rich people exercise more and eat healthier.

1:15.2

97% of the poor people in my study ate more than 300 junk food calories a day.

1:23.2

70% of the wealthy ate less than 300 junk food calories per day.

1:28.0

But you know what Corley found that really surprised him?

1:31.8

It has to do with, here, I'll give you a hint.

1:35.7

Hey.

1:36.7

Did you hear that?

...

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