Previously read Think and Grow Rich. It emphasizes the importance of one’s mindset and innermost desires / thoughts in guiding one to becoming rich. It was written in the early 90s though so even if it was informative and helpful, it was really constructed on the heavy hard-to-read side.
Then comes Secrets of The Millionaire Mind by T. Harv Eker. From the title itself, it also stresses the importance of having a millionaire mind — not of poverty mindset, but of a richer life mindset. He also immediately clarifies that when he refers to the rich or the poor, he’s referring to the mindset and not the present financial capabilities (or net worth) since one can be financially poor for now but has a rich mindset already — on his way to financial freedom. But more often than not, rich in mindset and in pocket go hand in hand.
Before I go any further, I’d already say this book is a much easier read, and personally more effective in driving the point and inspiring a change for a richer life. It definitely merits a second reading or more.
In the book, Eker provides many wealth principles — various comparisons on how wealth-oriented people think and act vs those with poverty-mindsets. Indeed, striving for financial freedom, for maximizing one’s potential, for a richer life, really begins with how one thinks, with what’s going on in his mind, with the mindset. These thoughts lead to actions, then eventually to a way of life. Whether Juan believes or not that he can be rich, whether he’s in charge of the situation or a victim of circumstance.
Before we proceed, I ask you to get a pen and paper, and assess yourself how many rich-people- or poor people-mindsets you currently have by taking this 5-minute quiz:
And you’re back!
Did you take the quiz? How many did you get?
As a recap, below image shows the book’s 17 Wealth Principles.
Of course nobody is perfect and there is always room to learn and grow (17), as long as we believe that we are in charge of our financial lives (1), committed to a richer life (3), and have the proper environment / support circle (7). So how many poor-people-mindsets hit you? Now you know which points to improve upon. Number (13) on net worth — we have touched this over and over again while (15) deals with investments which we also cover here extensively.
I’ll leave you with just a few of the hundreds of quotable quotes from this worth-a-reread book:
A lack of money is never, ever, ever a problem. A lack of money is merely a symptom of what is going on underneath.
Thoughts lead to feelings. Feelings lead to actions. Actions lead to results.
Action always beats inaction. Rich people get started. They trust that once they get in the game, they can make intelligent decisions in the present moment, make corrections, and adjust their sails along the way.
The notion that the wealthy people of the world have and are somehow hoarding all the money, so there’s none left for anyone else, is preposterous — the same money can be used over and over, to create value for everyone.
Rather than say “when I have plenty of money, I’ll begin to manage it,” the reality is “when I begin to manage it, I’ll have plenty of money.”
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May we all have richer lives! #GrowYourMoney #BeFinanciallyFree #GYMBFF #InvestMoneyPH