book summary of “ Secrets Of The Millionaire Mind ” by T. Harv Eker
This book [ Secrets Of The Millionaire Mind ] shows us how people relate to money and wealth. Some people have the stick of alchemy, that is, they turn whatever they touch into gold. Others make a lot of money from a business idea, but after a while they become bold and waste it all or lose it with the wrong investment. Others do not save a single coin and are always penniless. Many people think that when they get the right knowledge about business strategies and financial management, they achieve economic success automatically and without taking another step. But their income and monetary relationships have little to do with skills or luck, yet they themselves rely on subconscious thought patterns that are ingrained in us all. Everyone has certain mental structures that are permanently stored on their internal “hard drives”.
What “The Secrets of the Millionaire Mind” all about?
Millionaires are programmed for wealth, while others are programmed for low or medium income. Childhood experiences and role models in life form these thought patterns and guide our behavior to such an extent that they then directly affect our level of wealth. It does not matter if we are talking on the scale of a few hundred thousand dollars or millions or even billions, in any case the income of individuals ultimately rarely differs from the limits set for them in childhood. Why? Because the subconscious mind regulates them like a thermostat. If their thermostat is set too low, they spill it as soon as their hands get some extra money. But if their thermostat is set to high, that is, to wealth, they immediately make up for the lack of money with savings, and usually ensure that their wealth increases.
Most people are programmed to have a low income, which means that many people have the potential to become rich, but very few people can stay rich and accumulate lasting wealth. Instead, self-made billionaires like Donald Trump may at times lose unimaginable amounts of money, however they always regain their wealth because they think like billionaires. Anyone who wants to follow their example must learn to ignore their past thoughts and replace them with millionaire thinking.
Our thought patterns are shaped by our parents’ | Secrets Of The Millionaire Mind
Our thought patterns are shaped by our parents’ | Secrets Of The Millionaire Mind
Our mind is like a computer, a place where important programs are installed in childhood. The established patterns within us are based on our first memories. The things we often hear as children when our parents talk about money are stored in our minds forever and form ideas that ultimately determine how we think about money. Words like “money is the root of all evil”, “money is not a green tree” and “happiness cannot be bought” take root in our minds as monetary programs and affect our beliefs about money. Since parents have the greatest influence on our behavior as children, there are only two ways to deal with their thoughts about money and wealth. We can empathize with these thoughts and accept them, or we can rebel and reject them. We either think about wealth and money on the same scale as our parents, or we really want to make money in a fundamentally different way.
In any case, resistance alone is not enough to break the pattern of your economic plan. This is due to the fact that rebellious people often go with the wrong motive to get rich. They do not really want to get rich, they just want to rebel against their poor parents or feel superior to them. The behavior they have learned from their parents is still so prevalent that even if they work hard and make some money, they will probably break free from the internalized monetary program if they have not worked on it in any way. They will lose that money quickly. However, those who learn at a young age that “anything is possible with money” have a much easier way to make money because the motivation of a person who is free and independent because of wealth can also be satisfied with money.
We subconsciously reproduce our parents’ revenue strategies
We subconsciously reproduce our parents’ revenue strategies
Our internalized view of money and wealth is not only based on what we hear from our parents about money, but on a clearly conditioned pattern of behavior:
The way our parents make their money and the way they use it. A plausible answer to the question of why we deal with money in our own way is that “my mother always did,” while this is not usually the case with pasta. So, when you were a child and you asked your mother for money and she told you to ask your father, you have the impression that the man is responsible for the expenses and the woman cannot manage the money. Or if, for example, our parents lived in the era of world war or a financial crisis, their experiences of lack of necessity will affect our patterns of behavior, and we will always think that the amount of money we have can never be enough. The experiences we gain at a young age are crucial to taking our first steps in dealing with money as we carefully observe our parents’ behavior and store it in our subconscious. Then, when we start earning as young adults, without Realize that we are imitating our parents’ income patterns. Eker presents his story as a prime example:
As a house dealer, his father used to make good money frequently by buying and selling a house, but then he invested all his profits in new projects, and each time his work went bankrupt. He himself had consistently imitated such emotional behavior in his early business endeavors without understanding the reason for his failures. Man is a habitual being and it is hard to forget when we learn something. We can get rid of these structures only by becoming aware of our parents’ intellectual structures and consciously trying to change our behavior.
Make a general list before you change your mindset
Make a general list before you change your mindset
The reason you do not reach your desired level of well-being usually has little to do with external factors and is more to do with an unconscious inner space. However, it’s never too late to change that. The first step to greater economic success is to understand that you are trapped in a pattern of thinking and that is why you are not getting rich. Once you have broken this pattern, the next thing you need to do is understand where the pattern came from: What habits and patterns of behavior have you learned from your parents and what effects have these patterns had on you? What thought patterns do you follow? How much wealth do you plan to earn? What subconscious strategies do you use to keep your account balance high? Gain an overview of your inner plan by writing down the behaviors of your role models in life when confronted with financial issues and parenting statements that have taken root in your mind and influenced your behavior.
Does hearing “we cannot afford it” always make you believe you cannot buy something? Analyzing your current economic situation can be very enlightening, as it gives you an idea of your own planning. The amount of money in your bank account shows how much money you are currently set to earn and whether you should spend more or save more. The success or failure of investing in business reveals to us that we are subconsciously on the path to profit or loss.
In your self-assessment, once you understand how conditioned you are, it is enough to realize that you have the choice to adopt a different mindset and change yourself by changing the approach to your “inner world” and thoughts, and replacing old thought patterns with new ones with new patterns tailored to your path to wealth. Various techniques for changing attitudes are discussed appropriately in Secrets Of The Millionaire Mind .
Break the pattern with new behaviors and new guiding principles
Although it may seem overwhelming to just read a book and know the theory behind wealth creation or to hear about what you need to do and put in millions of dollars, unfortunately that alone is not enough. Let’s erase old information about money and rewrite it in our minds, not add and store new information. The attitudes we have taken about money have been things that were regularly read to us when we were young. If we want to change them, we must find new and better principles about money and wealth and make it a habit to repeat them frequently.
This clearly means that when you repeat the approach of rich people out loud to yourself every night, these approaches take root in your mind and you change your usual mindset with that of a millionaire. Interesting examples of these sayings are “I have a millionaire mind” or “My money works hard for me and brings me more and more money.” Of course, the files in your mind store can only be extracted if you make conscious behavioral changes.
You will only learn something if you can do it yourself. We humans are accustomed beings, and anyone who wants to change his relationship with money must change his habits. In this regard, Eker consciously broke the pattern of behavior that he had inherited from his father, started a sports equipment store, and abandoned his idea until he turned it into a successful chain and made millions of dollars. We also have to practice with ourselves to do the right thing. For example, imagine you are in a mall and you see a handbag that is discounted. Usually, you’re programmed to think, ‘I should buy it cheap, it’s worth it!’ yet this is exactly the moment when you should use your new plan: “If you have to pay your debts, you should not pay your money purchasing anything else.” By verifying your thoughts continuously and by measuring tangible things, you can erase false thought patterns bit by bit and learn how to behave like a millionaire. This is one of the secrets of a rich mind.
If you want to get rich, you have to learn to take your destiny into your own hands
If you want to get rich, you have to learn to take your destiny into your own hands | Secrets Of The Millionaire Mind
If you want to be economically successful, you have to internalize the idea that your (economic) life is under your control. Wealthy people know they are behind the role, while economically weaker people are always in the back seat, leaving their income control to others. It is really strange that people who are really poor spend half of their income on lottery tickets in the hope that they will get a chance. Instead, rich people do not gamble to get rich or wait for money to come down from heaven. Poor people are constantly victimizing themselves and blaming anyone they can, the government, their employer or their economic situation. But nothing will change your financial situation until you realize that you are responsible for your own economic success. If you find yourself blaming others for your poor financial situation or complaining about your situation, you should always remember that you are responsible for your own success and look for the reasons for your failure.
You do not have to look at yourself as a victim to break the pattern of thinking. Instead, make a regular list of your transactions and analyze how much you had: Is my situation red for the third month in a row because I bought too much? Wouldn’t it be wiser to do more research on the cash the bank talked to me about before it devalued? Instead of complaining, you should focus on the points where you can make changes and do something for your own success. Only then can you step on the path to wealth.
Future millionaires need to have a positive attitude towards money
Future millionaires need to have a positive attitude towards money | Secrets Of The Millionaire Mind
The idea that wealth and faith cannot be reconciled is common among the deprived, not among millionaires. To be rich, you must also love money. Poor people often have negative thoughts about wealth. They worry that others will love them only for their money, or even worse, that their money may turn them into bad people. In addition, they fear work and responsibility associated with wealth, and this is an obstacle in many areas. Anyone who sees only obstacles to getting rich and is afraid of failure misses out on many opportunities to make money. Wealthy people, on the other hand, feel good about good opportunities and potential business profits. They are ready to accept the calculated risks and are always optimistic that they can get back the money they lost. The advantage of accepting risky opportunities is that large risks mean a large return on investment.
Your wealth will increase if you seize the opportunity with optimism and calmly face possible obstacles. If you want to be rich, it is also important to love rich people. Negative emotions such as jealousy and insecurity that poor people have about millionaires deprive them of success. If you despise rich people, you will instinctively become one of them and you will never be willing to associate with rich people who can give you valuable advice about economic success. Also, adopting a millionaire way of thinking means thinking more positively about money. If you have a good sense of money for what you want, you are more likely to get it. You can be one of them if you learn to admire rich people and not resent them for their money.
You can only get rich if you dedicate yourself to it
Wealthy people know from the beginning that their goal is to get rich, and so they make an unconditional commitment to success. People who just want to get rich but set a limit on what they want to do or sacrifice in this way remain poor. Only those who devote their whole being to wealth and devote their lives to it will become rich. Working 16 hours a day for an indefinite period of time and accepting that you will have less freedom are part of this commitment. Challenging yourself and continuing to work alone are also important components. Wealth only grows if you grow it yourself. If you want to get acquainted (gain, obtain) with present-day techniques that came from Getting Rid, it is important to continue studying, attending seminars, and reading books on investing and working with capital.
The better you get to know the world of money, the more money you will be able to make. Another point is that commitment means starting a business or entering a lucrative industry, since rich people generally tend to own a company. While luck plays a role in a business’s success, you will not be able to save money if you do not take the first step in developing a business plan that can be profitable in the future. The best strategy is to start working in an industry where you want to be enthusiastic and curious, no matter what the situation. If your goal is to start a restaurant chain, you can learn the most by working in the catering class and learning the tricks from the manager. If you have no innovative business ideas, they will welcome you if you join someone else. Then you have to commit to becoming a millionaire (or more) and dedicate yourself completely to pursuing your business ideas.
If you want to be a millionaire, face to the stars
Millionaires set their sights on making a lot of money if others dream of earning a decent income. The universe, in turn, fulfills these desires because the scale of the wealth you have in mind also matters. The question is simple:
Great thinking leads to great deeds and opens the door to making a lot of money. Thinking small is equals to low income. Most people find it difficult to service large markets on a large scale. Anyone who wants to get rich should ask himself how many people he will have access to by what he does. 20 people or 20,000 people? The number of people you work with is also reflected in your income, so you need to make an informed decision whether you want to deal with thousands of people or the whole world. Individual services are unsuitable for getting rich. For example, if you are a professional masseur, you will not be physically able to serve more than X people around the clock. At best, you can earn a steady income with effort. But future millionaires do not set limits on their income since time is a limiting factor. That’s why it’s not a good idea to make money for the time you work.
Wealthy people and those who want to get rich do not receive money based on the time spent, yet their income is commensurate with the quality of the results they achieve because quality has no limits. They do not want to be a masseur, but aim to have a chain of massage centers and get rich through it. So, what if we have not learned to think on a large scale? In this case, the right thing to do is to fill your surroundings with people who have also turned to the stars.
You can only increase your money if you treat it properly
You can only increase your money if you treat it properly | Secrets Of The Millionaire Mind
Working with money in a disciplined way and managing money wisely are very important factors in achieving wealth and success. Many people mistakenly think that high income is all that makes you rich. However, the correct way to measure people’s wealth is not their net worth or the cash value of all their assets. Investments and savings should also be taken into account. You just have to be more discriminating with the help you render toward other people. People who have an overview of the overall situation and prepare a long-term economic plan can strike a good balance between income, expenses and savings. It is worthwhile to use a reputable financial planner to assist you in this process. Having a passive income, or the money you earn without working, is also important, and as is the money you earn from stocks or funds invested.
If you want to get rich, you have to manage it instead of putting your money under the mattress. Whether you have real estate, land, or a solid business idea, there are many ways you can invest your money and increase it quickly. Spread your income in different bank accounts! Put 50% of your future expenses and 10% of every dollar of money in a bank account for investment funds or other passive income investments. In addition, it is better to deposit 10% in a special hobby account so that you can do interesting things with it to feel like a millionaire, such as going to a restaurant and ordering the most expensive food on the menu. Saving is also part of the accumulation of wealth. Keeping the cost of living low to a minimum is also important. You will never get rich if you constantly waste your high income buying expensive cars or branded clothes. Only those who think long-term and willingly give up instant gratification will become millionaires.
If you want to be successful and rich, you have to have a good picture of yourself
One of the characteristics that distinguishes rich people from less affluent people is that they know their worth and are convinced that they deserve to be rich. Less successful people often find themselves worthless and do not believe in themselves. They are economically unsuccessful and back off when they ask for their share of the money because they usually subconsciously think it is not worth it. Because rich people know their worth, they also understand how to promote themselves, their business or corporate ideas. Leaders are usually rich as they make more money in these situations. But to be a leader, you have to find your followers, which is only possible if you can sell your ideas well. Most people fail due to this fact that they have been told not to find they own way.
In the world of money and business, however, the approach is, “If I do not play my instrument, then who will?” Refusing to advertise for yourself is one of the main reasons why people who consider themselves worthless do not get rich. In order to understand your value and subsequently sell them to others, it is better to know what your talents are in, because then you can turn them into one of your company’s services or products and introduce it to many people. You need to look for the right product because it should be something you can guarantee 100%. So what can you do to feel like a millionaire and have a good idea of yourself? Be in a rich atmosphere and entertain yourself with the money you earn, for example, join an expensive sports club or tennis club or go to the most expensive hotel in the city for coffee. Everyone has their own ways of getting rich, but only those who believe in themselves can convince others to believe in them.
The final summary of The “Secrets of the Millionaire Mind”
The main message on the book is that our level of success is pre-programmed with the thought and behavior patterns we learned as children. We can only change it if we consciously recognize it, actively take a new approach, and put “millionaire thinking” in our minds. The Secrets of the book summarizes the following questions:
- How does our account balance reflect our thinking?
- Specific thought patterns pre-plan our wealth.
- Our thought patterns are shaped by what our parents have taught us about money.
- We subconsciously imitate our parents’ income strategies.
- How can we change the mental structures we learned as children?
- Make a general list before you change your mindset.
- Breaking the pattern: with new guiding principles and new behaviors.
- If we want to become a millionaire, what attitudes should we have about money and wealth?
- If you want to get rich, you have to learn to take your destiny into your own hands.
- Future millionaires need to have a positive attitude to money.
- You can only get rich if you dedicate yourself to it.
- If you want to become a millionaire, act like them.
- You can only increase your money if you treat with it properly.
- To be successful and rich, you must have a good picture of yourself.
