A Review and Explanation of "Secrets of a Millionaire Mind" by T.Harv Eker
If I were to ask you if you had all of the money you want, most of you would probably answer "no".
But, I'm sure it would surprise most of you if I told you that you have all of the money that you have allowed yourself to have.
I can hear the excuses coming now, in fact, I have given some of the same excuses.
You just don't understand, I was fired, it wasn't my fault.
I was injured it isn't my fault.
I grew up with little or no education, it's not my fault.
My spouse spent all of our life savings, it isn't my fault.
My kids seem to drain me of every penny I make.
There are millions of people who have become wealthy and successful in spite of all the excuses I just gave and more!
There are no excuses.
You are still the only reason you do, or don't, have all you want.
Secrets of the Millionaire Mind
I purchased T.Harv Eker's book, "Secrets of the Millionaire Mind" years ago.
I've read it, and have periodically re-read it, several times, but I haven't always applied the principles, because, like many of you, I kept giving excuses and still wanted to blame other things for my lack of financial success.
These repeated patterns of behavior have become my money blueprint. Until I change my blueprint, I'm pretty much doomed to continue repeating the same patterns over and over. I intend to change my money blueprint and thought perhaps I'd provide you with the same opportunity.
Below is my review of the seventeen wealth files, or money principles, found in T.Harv Eker's book. I've also included a 6-part video of one of T.Harv Eker's seminars that will further explain his secrets. I found them to be logical concepts that can help anyone improve their financial status.
If as you read this you find yourself still offering excuses, then you haven't yet understood the power you hold in creating the life you want. This also means you're not ready to begin to apply the principles. You'll know when you're ready when you stop offering excuses, accept that you are the creator of your success, and begin to get excited about the possibilities this knowledge then provides you. You'll be eager to try the concepts and will be anxious to see the results.
Let's get started, shall we?
Wealth File #1
Rich people believe "I create my life." Poor people believe "Life happens to me."
It is important to realize that you are not a victim and it's time you stop playing the role of a victim. The economy, the stock market, the government, your spouse, your parents are not to blame for your financial success. It's time you realize that you are in control of your financial future.
Complaining is the absolute worst thing you can do. Complaining only insures you'll have much more to complain about. T.Harv Eker challenges his audience to quit complaining (even in thought) for a full seven days. He claims that this one exercise alone transforms many people.
What could it hurt to try it? Wonder if you can even go a day without complaining? Remember, even if you never said the complaint out loud, you still thought it. See if you get to where you don't even think of complaining anymore.
Wealth File #2
Rich people play the money game to win. Poor people play the money game to NOT lose.
Any game played entirely defensively will not result in a win. Playing in survival mode will simply only give you a chance at survival. If you want to achieve more, you have to be willing to play to win.
T.Harv Eker says that: "If your goal is to be comfortable, chances are you'll never get rich. But if your goal is to be rich, chances are you'll end up mighty comfortable."
Do you want to be rich or comfortable?
Wealth File #3
Rich people are committed to being rich. Poor people want to be rich.
One of the key reasons most people don't get what they want is that they don't know what they want. They may think they do. I have found that most people hum along waiting on life to happen to them. Then they'll decide if they like it or not. They simply react to whatever is dealt them. Rich people don't do that. They are committed to being rich and are determined to do so. Failure is not an option for them. They affirm that is what they are after and watch for opportunities to present themselves. When you have that determined mindset, the world will beat your door down to help you. When you sit and complain you'll miss opportunities.
Wealth File #4
Rich people think big. Poor people think small.
T.Harv Eker believes there are several reasons that people think small. They are: fear of failure, fear of success, because they feel small or unworthy, or they don't feel they are good enough or important enough. I would tend to agree.
If you don't believe in yourself and your worth, why would you expect anyone else to? You should be your biggest fan. You should believe in yourself even if no one else appears to. You are all you need to turn your life around. You don't need the help of anyone else. You are smart enough and strong enough to do whatever it is you'll need to do to have all you want to have. You just need to believe that before you can move forward with "how".
Try it. What could it hurt to believe in yourself?
Wealth File #5
Rich people focus on opportunities. Poor people focus on obstacles.
I'm sure you're familiar with the age-old question about whether the glass is half full or half empty. Your perspective of the world affects your decisions. If you are always looking to find the angle, or expecting to be taken advantage of, or always looking for things to be wrong, you're going to have a tough time seeing opportunity when it crosses your path because it won't look like anything you're looking for.
If, on the other hand, you usually assume the best in situations, and look for ways something will work out ok, or how others want to help you, you'll see opportunities when they arise and be able to quickly act on them.
I'm not going to tell you that every opportunity will make you rich, but every opportunity that you feel compelled or led to act upon will help you in some way. Maybe you'll learn something from the experience further down the line. Learn to trust that everything you experience is necessary in your growth along the path to your success.
Wealth File #6
Rich people admire other rich and successful people. Poor people resent rich and successful people.
When you see a person that you perceive to be wealthy do you look at them with admiration or scorn? Do your thoughts immediately turn to wishing you could talk to them to find out how they did it, or do your think about who they must of screwed to get their wealth?
If you see wealthy people as evil, manipulative, ruthless, dishonest, sinful, or any other negative word, then I can promise you that wealth is not something you're going to attain, or if you are lucky enough to hit the lottery, you'll never be able to keep it. Why? Because you have already wired your brain to think poorly of someone with money and you're not going to like yourself if you do it.
If you're serious about becoming wealthy, it's time you take a good hard look at how you think of other people. Learn all you can about those who have the type of money and lifestyle you desire. If you want to be rich you need to admire the rich.
Wealth File #7
Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
It just stands to reason that if you associate with positive people, you're going to feel more positive. If you associate with negative people, you're going to feel more negative. But, what do you do, if the negative people in your life are your spouse, kids, or family?
One way is to becoming the annoyingly happy person they won't want to be around. You don't have to run from them, they will run from you. As you concentrate on your own happiness, you'll be less bothered by others and they won't find you very interesting to be around if you're not joining them in their latest pity party.
Find excuses to put yourself around more successful people. Go where they go, do what they do, and soon you'll become one of them.
Wealth File #8
Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
I think T.Harv Eker provides a really good example of how we readily accepting packaging and promotion when we talk about women wearing makeup or men dressing up in suits. We somehow see that aceptable behavior, or putting one's best food forward. Why then, do we sometimes condemn people who promote their products, services or ideas? Face it, leaders earn more money than followers. Eker goes on to say that most people who have difficulty with promoting themselves or their products either lack confidence in their product, don't understand their product, or lack confidence in themselves.
If you believe in something that you feel can assist others, then it's your duty to share it with as many people as possible. However, do not assume that everyone believes as you do. Those who need it or will benefit from it will be grateful and those who don't will most likely ignore you. That is ok.
Wealth File #9
Rich people are bigger than their problems. Poor people are smaller than their problems.
The road to wealth often has its obstacles. Rich people enjoy that challenge. Poor people fear it and find it too much of a hassle and don't want the responsibility. The trick is to get comfortable with challenges. Learn to enjoy finding solutions and ways around them. Be creative.
Rich people are solution-oriented, spending their time planning and preventing the same problem from happening again. Poor people are problem-oriented, spending their time complaining and worrying and hoping someone else fixes their problems or their problems fix themselves.
Wealth File #10
Rich people are excellent receivers. Poor people are poor receivers.
T. Harv Eker actually says if he had to name one reason that most do not reach their full financial potential it would be because poor people are poor receivers.
After all I have read, I found this one statement to be rather eye-opening. Out of all of the reasons, Eker thought this one was the biggest reason people fail. I guess I found that a little shocking really.
Even though many have difficulty receiving due to a low self image and feelings of unworthiness, Eker still maintains that you can become wealthy in spite of this. Worthiness is not a truth, worthiness is a perspective. It's your perspective and you can change it.
Eker sums it up well:
If you say you'ere worthy, you are. If you say you're not worthy, you're not. Either way, you will live into your story.
What do you want your story to be?
Wealth File #11
Rich people choose to get paid based on results. Poor people choose to be paid based on time.
Rich people like risks, challenges, and ways to demonstrate their abilities. Poor people want no risks, guarantees, and the security of something steady and dependable. They don't want to have to prove anything other than the ability to put in the time.
Isn't it ironic that many hourly paid employees complain about not being paid what they're worth, yet wouldn't switch to commission based pay for fear of being able to make enough to survive?
It's going to be difficult, if not virtually impossible, to become wealthy on an hourly or salary-based position. Rich people either work for themselves or are in positions where their income is results-based.
I realize it's sometimes difficult to make that transition from hourly/salaried to entrepreneur or commission-based employment with the economy is tight and the mortgage payment is due, but you really owe it to yourself to start thinking about how you can make that transition if you want to work on wealth building.
Wealth File #12
Rich people think "both." Poor people think "either/or."
I think this one is probably the easiest for me to adher to since I've always been this way. I have never liked choosing between two things I want, I always want to find a way to have both. So this one comes very naturally to me. I really take a lot of pleasure in helping others with this concept. Friends and family often ask advice about how to choose between options and I often find they'd really prefer to have both and I help them brainstorm ideas to be able to do that.
Practice this. Think about all of the ways you might work things so that you can. Start thinking outside the box.
I love how T.Harv Eker puts it:
"Rich people believe "you can have your cake and eat it too." Middle-class people believe "cake is too rich, so I'll only have a little piece." Poor people don't believe they deserve cake, so they order a doughnut, focus on the hole, and wonder why they have 'nothing'."
Wealth File #13
Rich people focus on their net worth. Poor people focus on their working income.
I'm guilty of this as much as anyone. Why do we always look at the balance in our checking and savings account as a measure of our worth? There is so much more to our worth or value than that. Every time you make a house payment your equity in that home is increasing and your debt is decreasing. Every time you make a car payment your debt is decreasing. If you have investments or retirement accounts they are probably increasing, albeit not like we'd like, but they are still increasing over time.
Even a recent college grad as worth not yet converted to cash. Think about all of that knowledge stored in your brain waiting to be put to good use.
Wealth File #14
Rich people manage their money well. Poor people mismanage their money well.
Get good at managing your money. Keep track of it. Know what your expenses are, know when they are due. Just be knowledgeable about your money. This is an important skill to have and will become more important the more money you have. Many mistakenly think that rich people just put their money in an account and start writing checks. No, they carefully plan where their money should be and how it can work for them.
One of the techniques that T.Harv Eker mentions is creating a "Financial Freedom jar". You get in the habit of depositing money into it every day. Somedays you may only drop a penny in it. Other days you may drop $10 in it. The amount isn't important, the habit is. This simple act is a daily reminder that you want to be financially free. Putting this money away will become second nature to you.
Wealth File #15
Rich people have their money work hard for them. Poor people work hard for their money.
I like T. Harv Eker's definition of financial freedom:
"The ability to live the lifestyle you desire without having to work or rely on anyone else for money".
That means you become financially free when your passive income exceeds your expenses.
Some examples of passive income are:
- investment earnings such as stocks, bonds, T-bills, money markets, mutual funds or owning mortgages or other assets that appreciate in value that can be liquidated for cash
- the ability to generate ongoing income from a business where you do not need to be personally involved for it to operate and yield income such as rental real estate, royalties from books, music, or software, licensing your ideas, becoming a franchisor, owning storage units, owning vending or coin-operated machines, and network marketing
- any other business you can devise that you will run without you but you draw earnings from
For most of us, generating passive income is probably not something that comes natural to us. Most people are work-oriented when it comes to generating income. It's the way it's been since we were kids. If we wanted something, we had to work to earn it.
Rich people buy assets that go up in value. Poor people buy expenses and things that go down in value. Rich people collect land, poor people collect bills.
Wealth File #16
Rich people act in spite of fear. Poor people let fear stop them.
It is not necessary to eliminate fear, but to learn to accept it as part of the process. Do not let fear stop you from doing something. Being uncomfortable means you are in a situation that will cause you to grow and learn. Push forward and become more than you already are.
Have you ever stopped to notice how similar fear and excitement are? I taught this to my kids when I first took them on a large rollercoaster. Get familiar with that tingle in your stomach that you now call fear. Tell yourself it's excitement. It'll often give you the courage you need.
Wealth File #17
Rich people constantly learn and grow. Poor people think they already know.
This one quote inspires me so much:
"Becoming rich isn't as much about getting rich financially as about whom you have to become, in character and mind, to get rich."
The more you work on you the more you'll learn that will assist you in becoming the you that you want to be.
So, tell me, what are you going to do with this information? Are you ready to change your life and improve your financial situation? Or will you go on to the next hub and forget what you read? I'd be interested to know if anything I shared with you has made a difference in your life. If you do nothing else, please try to stop complaining. Stop complaining about money, about your job, about your relationships, about your kids, about your family. Give yourself 7 days off from complaining. See what happens.
Part 1 of 6
Part 2 of 6
Part 3 of 6
Part 4 of 6
Part 5 of 6
Part 6 of 6
Fellow Hubber LindaCSmith's Book Review
- Book Review The Top 10 Distinctions between Millionaires and the Middle Class
Keith Cameron Smith has written an engaging little book that is brief and to the point as regards a basic understanding of what might separate the wealthy from the middle class. From reading his book, you...
More by this Author
Several years ago, we had some friends who were Yankees (and they were pretty darn proud of that fact). He was from northern Maine and she was from New Hampshire. You really don't get much more Yankee than that. This...
When I was younger, the Waco Regional Airport in Waco, Texas was referred to as the Madison Cooper Airport. As a child, I toured the beautiful Madison Cooper house where the Cooper Foundation now resides that you see in...
A fascinating look at Beatrice Wood, the woman James Cameron modeled Rose Dewitt Bukater Calvert after in the movie "Titanic".