I am a big fan of Dan Martell and read pretty much everything that he recommends. One particular book that he recommended and I absolutely fell in love with is ‘Secrets of The Millionaire Mind by T. Harv Eker. In this blog, I will try to summarize the book to the best of my ability and with the an honest intent.
First things first, the book is definitely not about finance; we need to correct our approach to the book right from the start. Unlike ‘Rich Dad & Poor Dad’ or ‘The Psychology of Money’ this book does not give you hardcore business ideas of financial statistics worries. All it focuses on is getting rid of our mindset that is not suitable to attract wealth. And adopt the approach that works like a magnet to attract massive amount of dollars.
In this book, I found T Harv Eker giving a lots of emphasis on the perspective of money that we build while growing up. He says that our parents used to teach us very few money-making skills because they themselves had made just enough to survive. But they continuously portray the pursuit of money as an evil job. They emphasize us being good human beings and give importance to the relationships and all that. But, one thing they fail to teach is that one can easily concentrate on both things, as both are totally different.
I totally loved the example of lottery ticket winners that T. Harv Eker has given in the book. He interestingly explains that there are hundreds of examples of poor people who became millionaires overnight by winning a lottery. However, soon they happened to fall back to the exact same financial condition where they belonged.
This happens because a lottery can bring millions into someone’s bank account overnight. But until his mind is upgraded to someone who can absorb that much wealth, it will soon divorce its owner, go into the hands of a person who possesses a financially fertile mind.
Another beautiful aspect that I learned from the book is that of ‘calculated risks’. Rich people are very good at taking calculated risks. A millionaire mindset is not tuned to be too cautious all the time. Millionaires are okay with taking calculated risks. They understand the gravity of a risk, measure the probable reward, and go for it, while people with a poor mindset keep sitting on their ideas forever.
Moreover, self-promotion is the idea that every poor or average person always feels shy about. He thinks and feels that he should only focus on the abilities and qualities, and the world will seek him. In this book, T.Harv Eker declares that idea as unproductive and a habit of ordinary people only.
The author believes that the market is too crowded with products, marketing, and capabilities. One could die waiting and not get any opportunity, as compared to the one who is less competent, but he lets everyone around know what he is capable of. The opportunities start following him. Self-promotion, according to the book, is a positive aspect and should not be seen with skepticism.
Note down another great principle from this book – rich people are not paid for their time, but they are paid for the value they provide. This makes a marked difference in the way of making money. People with a poverty mindset are so afraid of failure that they want to play it safe at all costs. They want a set amount of money to be paid irrespective of the circumstances, that’s why jobs suit them.
But the people with a millionaire mindset never want to cap their possible earnings. They happily accept stock options, business percentage etc. This increases their chances of out-performing the people who always want to play it safe and want to be paid a set amount.
I also happened to know from this book why people with a millionaire mindset are not suited to be good employees. How many times do we hear people around us cursing their boss and hating their work environment.
Why is that so, because people think that they are worth far more than what they are being paid. But they take no practical steps to ensure that. They are not willing to go out to the marketplace and check what their worth is. While the person who hires them has nothing more than taking the risk of actually going to the marketplace to check what his/her worth is.
Now that I have reached the end of my blog post, I am prepared to answer certain questions about this book that have surfaced online.
First question, is the book ‘Secrets of the Millionaire Mind’ available in pdf for free? And the answer to that is yes, I was able to find it online and read it for free. It might require some time and effort to search for it, but it’s worth it.
The second question being frequently asked online is ‘What books explain the psychology behind the millionaire mind and recommended tools for growth?’. Honestly speaking, if you are looking for some tools for growth, then you will find none in this book. However, as far as the first part of the question is concerned i.e phychology behind millionaire mind, then this book is the best pick for that.
The last question that I want to answer is ‘What are the top personal finance apps that teach millionaire mindset principle’ My take on this is that if you can attend any of the T.Harv Eker sessions or seminars on the subject, that will go a long way with you. This book shoes glimpse of what he is capable of.
In the end, I must thank you for trusting Bookish Talks and giving your time to the platform. I am Faizan Khan, and here at Bookish Talks, my only mission is to generate fruitful discussions about books that we all love to read.
If you are an avid reader, and sometimes ponder as to why certain books change lives of people and why the same very book changes nothing in other, I have written a detailed blog on that with the title ‘Why Self-Help Fails Most People: The Secret of the Prepared Mind’. Consider giving it a read, it’s worth it.