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In a world where success is often measured by financial metrics, self-made millionaires reveal a surprising secret: their greatest asset isn’t just wealth—it’s generosity.
According to author and financial expert, Tom Corley’s research, 72% of self-made millionaires volunteer at least five hours per month at local non-profits, with 27% serving on boards to guide these organizations. This isn’t mere charity; it’s a deliberate “Rich Habit” that fuels personal and professional growth, as detailed in Corley’s book Rich Habits: The Routines Millionaires Use Daily That Will Help You Build Wealth. After studying 233 wealthy individuals—177 of whom built their fortunes from scratch—Corley identified habits that set the affluent apart.
Corley’s Rich Habits framework emphasizes that wealth stems from consistent, positive behaviors. Volunteering stands out as a powerhouse for networking and opportunity creation. “You’ll build valuable relationships that can result in more customers or clients, or help you land a better job if you spend time pressing the flesh and giving back in your community,” Corley writes on his Rich Habits website.
These millionaires don’t just donate money; they invest time, immersing themselves in non-profit boards where they connect with influential peers. One study participant, a tech entrepreneur turned millionaire, credited his board role at a youth mentorship program for introductions to investors who funded his next venture. Far from a time sink, volunteering amplifies resources, as non-profit boards often attract successful individuals.
Why does this matter?
Corley’s data shows wealthy individuals prioritize self-improvement, networking, and side pursuits, minimizing distractions like excessive TV (67% watch less than an hour daily). Volunteering aligns perfectly, transforming “giving back” into a strategic advantage. In his book, Rich Habits, Corley profiles ordinary people who adopted these habits to achieve wealth, noting how board involvement sharpens leadership and resilience.
“Almost three-quarters of wealthy people network and volunteer a minimum of five hours a month,” he states, linking philanthropy to prosperity.
Third-party research supports Corley’s findings, framing volunteering as a wealth-building tool.
The Bank of America’s 2025 Study of Philanthropy reports that affluent households (earning over $200,000 annually) lead in charitable engagement, with volunteering rates surpassing 50%. Like Corley’s millionaires, they blend time and treasure, often using strategies like donor-advised funds.
The National Philanthropic Trust’s 2024 data notes that 28% of U.S. adults volunteer, contributing $167 billion in value, but high-net-worth individuals dominate deeper involvement, with 76% donating to causes they serve.
A University of Southampton study finds self-made billionaires 2.5 times more likely to pledge significant wealth to charity than heirs, crediting hands-on roles like board leadership.
Public health research adds weight: a BMC Public Health review of 40 studies found volunteering reduces mortality risk by 22% and boosts mental health, aligning with Corley’s note that 86% of his millionaires love their work, often enhanced by purposeful board service.
The Corporation for National and Community Service reports volunteers enjoy higher life satisfaction, a key Rich Habit.
Critics may see tax perks or social posturing, but the data reveals more: volunteering is a lever for success. As Corley advises, “To the wealthy, joining a non-profit board isn’t just about charity—it’s a wealth building strategy.”
By adopting this Rich Habit anyone can build “Power Relationships” with influencers who can open doors for you and for members of your family. These “Power Relationships” can also act as mentors and an external sales force, helping you grow your business or take you to the next level in your career.
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