How amazing would it be to go from dead broke to becoming a millionaire in 30 months?
Could you imagine having $0 to your name and less than three years later have 7 figures in your bank account?
How different would your life change? Would you move, travel, or spend more money?
Now imagine while living “the millionaire life” you start to make some bad decisions. You start overspending and making bad investments…
Then, less than two years after reaching millionaire status you lost it all.
What would you do?
Would you get back up or would you stay down and dwell on your past?
This is the beginning of the story of T. Harv Eker.
Instead of being depressed and mad for losing a million dollars T. Harv Eker decided to learn from his mistakes and vow to return.
He began to study psychology and develop a theory that every person has a “financial thermostat.” This concept is amazing and discussed frequently in “The Secrest of the Millionaire Mind.”
Basically, everyone has some sort of beliefs about money from when we were a kid. Some people think money is the root of all evil while others view money as a way to contribute and give back to the world.
What are your money beliefs?
Eker set his financial thermostat to become a millionaire, best selling author, and world recognized coach and speaker.
He published one of my favorite books ever, “The Secrets of the Millionaire Mind.” In the book, he breaks down the 17 ways rich people think and acct different from poor and middle-class people.
Here are the main points of “The Secrets of the Millionaire Mind” but also highly encourage you to read it fully.
Rich people believe “I create my life.” Poor people believe “Life happens to me.“
When it comes to creating wealth you have to take 100% responsibility. Simply put, you control all aspects of your life, including your finances. In Secrets of The Millionaire Mind Eker doesn’t mince words:
Let me put it bluntly: anyone who says money isn’t important doesn’t have any!” — T. Harv Eker
Rich people play the money game to win. Poor people play the money game to not lose.
Eker says that poor people only care about survival and security instead of creating wealth and abundance.
When your intention is to have enough to pay the bills, that’s exactly how much you’ll get — just enough to pay the bills and not a dime more.” — T. Harv Eker
Set big goals for yourself. Even if you fail a big goal you will be better off than setting a small goal and achieving it.
This is one of my favorite lessons from Secrets of the Millionaire Mind!
Rich people are committed to being rich. Poor people want to be rich.
If you ask anyone if they want to be rich almost everyone will say yes. But why is it that so few people actually end up rich? How does 1% of the world control 99% of the wealth?
The truth, however is that most people don’t really want to be rich. Why? Because they have a lot of negative wealth files in their subconscious mind that tell them there is something wrong with being rich.” — T. Harv Eker
Rich people are 100% clear that they want wealth. They are fully committed to creating a wealthy life.
Know what you want so you can be crystal clear about your financial goals and create the future you deserve.
Rich people think big. Poor people think small.
Eker tells a story in the book about how he had a trainer go from a net worth of $250,000 to $600 million in only three years! When asked what his secret was? He replied, “Everything changed the moment I began to think big.”
The Law of Income, which states ‘You will be paid in direct proportion to the value you deliver according to the marketplace.” — T. Harv Eker
Don’t be afraid to set big goals.
When you play big you can live a better life and contribute more to others. The more value you can add to others lives the more you will be rewarded.
Rich people focus on opportunities. Poor people focus on obstacles.
As Eker says, poor people make choices based on upon fear. Middle class “hope it works.” But rich people know it will work because they expect to succeed.
Rich people see opportunities. Poor people see obstacles. rich people see potential growth. Poor people see potoetnial loss. Rich people focus on rewards. Poor focus on the risks.” — T. Harv Eker
If you’ve thought about starting a side hustle, business, or making some other career change focus on the opportunity, not the risk. With a clear vision, hard work, and a strong belief it will work.
Rich people admire other rich and successful people. Poor people resent rich and successful people.
How true is this!? People view rich people two ways — ones with jealousy and envy. While soon to be rich people view them as inspirational and admire what they have accomplished.
The fact is, resenting the rich is one of the surest ways to stay broke. We are creatures of habit, and to overcome this or any other habit we need to practice.” — T. Harv Eker
As Tony Robbin’s says, “Success leaves clues.” Use rich people as an example of how you can do the same. Study them as much as you can!
Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
I love listening to podcasts and reading books from the most successful people in the world. It inspires me to say, “You can do this too Mike.”
One of the biggest changes I made in 2017 was cutting out people from life who were negative, unambitious, or not trying to better their lives.
Do you have anyone in your close group of friends dragging you down?
From my experience, rich people don’t just join the country club to play golf; they join to connect with other rich and successful people.” — T. Harv Eker
Glad I just joined a new country club! Seriously though, audit your friends and people that surround you as they have a huge impact on your happiness, optimism, and earning potential.
Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
Resenting promotion is one of the greatest obstacles to achieving success.
People who have issues with selling and promotion are usually broke. It’s obvious. How can you create a large income in your own business or as representative of one if you aren’t willing to let people know that you, your product, or your service exists?” — T. Harv Eker
I’m guilty of this in the past — I wasn’t sure if my writing was good enough and I would slack on social media. If you’re a blogger promote the hell of your site or product. If you’re in sales promote the hell out of your company and be the top salesperson.
Channel your passion and enthusiasm to promote your product or service!
Rich people are bigger than their problems. Poor people are smaller than their problems.
The secret to success is not to try to avoid or get rid or shrink from your problems; the secret it to grow yourself so that you are bigger tha nany problem.” — T. Harv Eker
As Eker said, “If you are breathing you have the ability to conquer any problem or obstacle.” Don’t make a mountain out of a molehill sized problem.
Focus 5% on the problem and 95% on the solution.
Rich people are excellent receivers. Poor people are poor receivers.
Get really rich and then help people who don’t have the opportunity you did. That makes a lot more sense to me than being broke and helping no one.” — T. Harv Eker
The next time you make money, find money or get some money unexpectedly — find a way to help others. The more you give in life the more you will receive back in the future.
Rich people choose to get paid based on results. Poor people choose to get paid based on time.
No one ever got super rich working a salaried 9-5 J-O-B. Rich people understand they need to have equity in a company, start a company, or be paid based on their results.
This took me a long time to realize — I use to have a salaried job because I liked the security. Then I switched to sales and started making way more money — it was motivating to get paid based on results.
There is nothing wrong with a salary as long as it doesn’t get in the way of your worth!” — T. Harv Eker
Rich people think “both.” Poor people think “either/or.”
Rich people live in a world of abundance. Poor people live in a world of limitations. Of course, both live in the same physical world, but the difference is in their perspective.” — T. Harv Eker
It is possible to make money and spend time with your family or friends. There are so many common misconceptions but with money, you actually can have your cake and eat it too.
Rich people focus on their net worth. Poor people focus on their working income.
I love it when you hear people ask what do you make? Who cares! People should be asking, what is your net worth!?
As Warren Buffett said, “It’s not what you earn, it’s what you keep.”
Focus on increasing your net worth by tracking it every month and finding new income streams to increase your net worth.
The true measure of wealth is net worth, not working income.” — T. Harv Eker
Rich people manage their money well. Poor people mismanage their money well.
Your habits control your life — rich and successful people have incredible money habits. They constantly are:
- Reading money-related books, blogs, and websites
- Living below their means so they can save more to invest
- Saving and investing every single month
- Tracking their net worth
- Learning about money
- Trusting the right financial advisor’s
It doesn’t matter if you have a fortune right now or virtually nothing. What does matter is that you immediately begin to manage what you’ve got and you’ll be in shock at how soon you get more.” — T. Harv Eker
Rich people have their money work hard for them. Poor people work hard for their money.
It’s been said millionaires have seven streams of income. They constantly have their money working for them in the form of real estate, stocks, and other ways of passive income.
It’s simple. Without passive income you can never be free.” — T. Harv Eker
Check out these 40 ways to start earning more money now!
Rich people act in spite of fear. Poor people let fear stop them.
The greatest way to overcome fear is by taking action. As Eker notes in Secrets of the Millionaire Mind, “Fear, doubt, and worry are among the greatest obstacles, not only to success but to happiness as well.”
All successful people have overcome fear on some level or another. It’s part of the process of success.
Rich people constantly learn and grow. Poor people think “they already know.”
Rich and successful people love learning! They are constantly reading, watching videos, listening to audio and attending events. They understand that investing in themselves is the best investment they can ever make.
Remember, you are never too old to learn something new. The more skills you have the more you will be rewarded!
Secrets of The Millionaire Mind Summary
I couldn’t recommend Secrets of the Millionaire Mind enough. It combines money, psychology, and self-improvement beautifully in 194 pages.
This book has the power to drastically change your finances and life. Read it several times and start practicing these secrets now!
Buy Secrets of the Millionaire Mind on Amazon!
Have you read Secrets of the Millionaire Mind? Do you agree with these principles?
Let me know in the comments!
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