Wednesday, July 2, 2008

Secrets of the Millionaire Mind - T. Harv Eker


Today I'll review a book about wealth. Have you ever think about how one can get rich ? For me initially, rich people must do all sorts of illegal/unscrupulous activity. Once I've read this book, it changed my whole mindset about getting rich.

The book talk about financial blueprint. Just like a house blueprint, to have a successful financial blueprint, you need to have a right combination of thoughts, feelings and actions in the area of money. Your financial information derived a lot of it from your programming while you're a child. To have the correct mindset and be rich, one need to program it with the new attitude.

In order for change, you need to manifest it. The manifestation is via the formula
P -> T -> F -> A = R where
P= process of manifestation
T= thoughts
F= feeling
A= action
R= result

Thoughts leads to feeling
Feeling leads to action
Action leads to result

3 Steps towards the conditioning of mind
1. Verbal programming - what did you hear
2. Modeling - what did you see
3. Specific incidents - what you experience
That can be related to V (Verbal) K (Kinesthetic) A (Auditory)

Memorable quotes
The only way to permanently change the temperature in the room is to reset the thermostat. In the same way, the only way to change your level of financial success "permanently" is to reset your financial thermostat.

In addition, the book share a lot of ideas on the differences between a rich person and poor people. I'll outline it as below
1. Rich people believe 'I create my life' while poor people believe 'Life happens to me' - that's the attitude on how people can have full control on themselves while the other think about victim mentality.
2. Rich people play money game to win while poor people play the money game to not lose - one talk about abundance while the other talk about scarcity
3. Rich people are committed to being rich while poor people want to be rich - one talk about commitment while the other just about wishful thinking
4. Rich people think big while poor people think small
5. Rich people focus on opportunities while poor people focus on obstacles - remember glass half full and half empty ?
6. Rich people admire other rich and successful people while poor people resent rich and successful people
7. Rich people associate with positive, successful people while poor people associate with negative or unsuccessful people - Have you think of birds of a same feather flock together ?
8. Rich people are willing to promote themselves and their value while poor people think negatively about selling and promotion - positive attitude versus negative attitude perhaps ?
9. Rich people are bigger than their problems while poor people are smaller than their problems - I guess that's the magic of thinking BIG !
10. Rich people are excellent receivers while poor people are poor receivers - That reminds me of the 3 tips from the secret
11. Rich people choose to get paid based on results while poor people choose to get paid based on time - Isn't that's the difference between a business owner versus employee ?
12. Rich people think both while poor people think either/or - Have you thought that you can have your cake and eat it too ?
13. Rich people focus on their net worth while poor people focus on their working income - Attitude towards increasing your overall wealth than just think about salary
14. Rich people manage their money well while poor people mismanage their money well - Money management i.e. credit card and credit facilities need to be handled well. The use of concept 10% long term savings, 10% education, 50% to necessities and 10% to charity.
15. Rich people have their money work hard for them while poor people work hard for their money - work smart or work hard ?
16. Rich people act in spite of fear while poor people let fear stop them - know your fear, confront and conquer it
17. Rich people constantly learn and grow while poor people think they already know - Continuous learning/improvement (kaizen) is the key to success

On all these 17 ideas, the author outline appropriate actions and your commitment required to make it stick to you. In addition, the book were littered with various wealth principles that help you towards making the rich thought into your mind. I truly like that bite size tips to let you slowly immersed that to your mind. One interesting quotes that always lingered on my mind on this title is "Wealth won't change who you are but just magnify what you are". For example, if you're a jerk, you'll become a bigger jerk. It won't be like if you're caring, you'll be become stingy when you're wealthy.

All in all, I would give the book a 8 out of 10 for content and the writing style that easily be read and understand to all.

P.S : There's a free bonus ticket for 2 to attend the Millionaire Mind Seminar if you're living in the States ! And that's worth $2590 USD !

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