Secrets of the Millionaire Mind by T. Harv Eker | Book Summary and PDF by 2000 Books

Financial freedom and success are subjects that many people have a hard time understanding, let alone master. Too often does one gain money, only to quickly lose it. If those two subjects were easy to ingest, everyone would have the potential to be a walking millionaire. Secrets of the Millionaire Mind purpose is to provide assistance in creating a “money blueprint” for those with the desire to be rich. This neatly composed ensemble of wealth principle will resonate for anyone calling themselves entrepreneurs…or at least aspiring to be. While we unravel the habits and actions of the rich through this summarized Secrets of the Millionaire Mind PDF, we will learn:

  • How to create a “Money Blueprint” for financial success
  • The power of the subconscious mind and its effect on income
  • Rich Vs. Poor mentality
  • Declarations and action items aimed towards building success

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Background:

Secrets of the Millionaire Mind is a collection of ideas that will help anyone struggling on their path to obtaining wealth and financial freedom. There is a wide range of action items that can be used to develop life-changing habits. The goal is that by the end of the book, you will have already begun your journey to becoming a millionaire with a millionaire mindset.

About the Author

Harv Eker is the founder of Street Smart Business School, entrepreneur, educator and public speaker. His multi-million success began after he started a fitness store that eventually grew into a successful chain. Following that, his book Secrets to the Millionaire Mind became a #1 New York Times, Wall Street Journal and USA Today Bestseller.

The Idea Behind Secrets of the Millionaire Mind

In his early twenties, the author followed his heart as an entrepreneur. Success was on his mind as he pursued multiple businesses ventures. He was also under the assumption that he was capable of success due to his “potential”. Even with hard work and dedication, his entrepreneurial attempts did not yield profits. His failures led him to analyze his inner self, realizing that he had multiple worries, deeply ingrained, about becoming wealthy.

Secrets of Millionaire Mind PDF Summary

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During this time, he had an encounter with his father’s rich friend who passed on some life-changing advice: “…if you’re not doing as well as you’d like, all that means is there’s something you don’t know. Did you know that most rich people think in very similar ways?… If you thought the way rich people do and did what rich people do, do you believe you could become rich too?”

This led him to dedicate all his efforts into learning how the rich think and act. In doing so, he had discovered some common principles amongst the rich which eventually led to his success as he adopted their habits. Eker recognizes that many have gone through multiple formats of media for financial education but still fall short of their goals. “Secrets of the Millionaire Mind” is the author’s way of passing down the recipe that he used to become a successful entrepreneur and multimillionaire. The book is intended to be the missing link for those striving towards achieving success.


Summary

Learn the Fundamentals of Success and Wealth through Studying the Rich

Let’s start with:

Building the ‘Money Blueprint’

money blueprint

Eker has identified two different categories in the law of money that must be mastered; the ‘Inner Laws’ vs. ‘Outer Laws’. The two laws combined create a “Money Blueprint.” This blueprint can be used to build a strong foundation of financial success.

Foundation for Financial Success:

  • Money Blueprint
  • Inner Laws
  • Outer Laws
  • Wealth Files
  • Plan for Success
  • Keep Taking Action

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So what are ‘Outer Laws’ and ‘Inner Laws’?

‘Outer Laws’ can be viewed as a person’s knowledge about finance and business. Investing and money management are other examples of ‘Outer Laws’ that will aid one in their search for wealth.

‘Inner Laws’ are the rules that construct a person’s inner world or inner self. If ‘Inner Laws’ are not properly tuned to be supportive of success, then the mind will create mental blockers to yield negative results.

Inner Laws

  • Emotional Intelligence
  • Morals
  • Ethics
  • Beliefs

Outer Laws

  • Knowledge about Investing
  • Education about Finance
  • Money Management

An example used to illustrate how a person’s inner world direct affects on their outer world is “The Tree of Life.” The basis is that seeds turn into roots and roots turn into fruits. Often people wonder why the “fruits of their labor” does not turn out as expected and fail to recognize that the roots are the issue. The roots represent our mentality and the fruits represent wealth or money. If we can fix our roots, we can change produced fruits. Focus on the inner and as a result, the universe will change the outer.

 

The Right Temperature for Success

success

Eker believes that our mind is capable of acting as a “financial thermostat.” Just as a thermostat can be set to hold a certain temperature, most have people already set their financial thermostat to – poor. They have unknowingly adjusted their internal settings to limit their financial potential.

Unaware of their own thermostat, they cannot and do not focus on adjusting their settings for wealth and success.

Example: Multiple studies that show how lottery winners lose all their money because they do not know how to manage their wealth.

Their internal thermostat was not set to handle a large sum of money, end up with little or no money left. The thermostat did its job and brought the temperature back to the original setting.

If one were to focus on building a millionaire mindset using a strong money blueprint, their internal thermostat will be set to the temperature for success.

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4 Quadrants of Existence

There are 4 quadrants or 4 realms which we all exist on:

  1. Physical Quadrant – Money, Wealth, Health, Illness, Body Weight
  2. Mental Quadrant – Mental Programming, Conditioning, Knowledge, Intellect
  3. Emotional Quadrant – Love, Fear, Anger, Happiness
  4. Spiritual Quadrant.  – Beliefs

The Physical quadrant or Physical world is a direct result of the compilation of Emotional, Spiritual and Mental world.

Money, wealth, health, illness, and body weight are examples of the physical world results. Similar to the “Tree of Life” example, if we focus on the Mental, the Emotional and the Spiritual world (the seeds and the roots), the Physical world (the fruits) can be designed to produce the type of results we desire.

Thoughts > Feelings > Actions > Results

A formula important to creating wealth is:

‘Process of Manifestation

  • Thoughts lead to Feelings
    • Feelings lead to Actions
      • Actions lead to Results.  

Money harvest

The book refers to the concept above as “the Process of Manifestation.” The formula is designed to help people change their results by bringing attention to their way of thinking and feeling. Many of our thoughts are conditioned through past experiences. Often the negative experiences lead to unsupportive thoughts of wealth which continue to live within our subconscious minds.

Identifying and neutralizing the root cause for the negative thoughts is one factor to achieving a “Millionaire Mind.” The challenge is being mindful and aware of the moment those negative thoughts are present.

Understanding how negative triggers lead to negative results enables you to disassociate yourself from habits that are detrimental to your financial success.

 

The Three Influences: Verbal Programming, Modeling, and Specific Incident

There are three conditions identified that influence a person’s thought process and behavior:

  1. Verbal Programming – negative behavior stems from past experiences involving negative comments about money
  2. Modeling – negative behavior stems from bad habits of past role models
  3. Specific Incidents – negative behavior stems from past traumatic events

Verbal Programming influences examples can include incidents of hearing negative comments about wealth and money at an early age such as: “We’re not made of money”, or “We’re not rich.” These comments can leave a negative impression of money in the subconscious, leading to a negative perspective of money as an adult.

Modeling influences include habits we may have picked up directly and/or indirectly from our past set up poor habits of financial management.

Example: Parents spend everything they make with no plan for saving or investing, often living in an environment dependent on “paycheck to paycheck.”

The same financial model is adopted and practiced as the child grows to become an adult.

Specific incident influences are often traumatizing situations or experiences of one’s past. Unfavorable past incidents involving money fester into negative beliefs about money. This results in thoughts and actions that do not cultivate wealth. To fix this, one can go through the process of practicing mindfulness to identify and be aware of why the blockers exist.

After identifying the root cause of the unwanted behavior, the next step is to reprogram and transform their negative thoughts the into desired levels of wealth and financial freedom through disassociation.

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How to Reprogram for Success

  1. Identify the Problem
  2. Understand the Problem
  3. Disassociate from the Problem

Also, if the motivation for success and money stems from negative roots, true happiness can never be achieved. One must be conscious and avoid living on “autopilot.” Without being mindful of the present, the brain is likely to base decisions based on past experiences. Consciousness is defined by the author as “the state when can observe and be aware of the present.” Mastering the state of consciousness allows one to design their present reality.

mind retraining


Power of Declarations

Declarations can be powerful tools utilized for self-transformation. Throughout the book, we are presented with numerous verbal declarations on the topic of wealth. The goal is for the person to perform both verbal and physical activities aimed towards accelerating growth. At the end of each wealth principle, the reader is asked to declare out loud a supportive comment and to touch their head and repeat “I have a millionaire mind.” Verbal declarations can over time change the subconscious mind through positive affirmations. Physical actions reinforcing verbal declarations can be used as tools to program the Millionaire Mind.

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Accelerate Growth and Change through:

    • Verbal Declarations of Success
      • Say “I have a millionaire mind”
    • Physical Actions tie a feeling to the Verbal Declaration
      • Touch head during declaration

Key Ideas of The 17 Wealth Files – The Rich Vs. The Poor

Wealth File #1 – Create Your Life

Rich People Poor People
  • Think “I create my life”
  • Think “Life happens to me”
  • Takes control of the situation
  • Blames circumstances
  • Accountable for actions and results
  • Victim of situation
  • Focuses on solution
  • Focuses on problem


Wealth File #2 – Play the Money Game to Win

Rich People Poor People
  • Play the money game to win
  • Play the money game to not lose
  • Takes calculated risks to build wealth
  • Risk-averse
  • Focuses on amassing wealth
  • Focuses on making ends meet
  • Sets high goals
  • Sets low or no goals

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Wealth File #3 – Commit to Being Rich

Rich People Poor People
  • Commit to being rich
  • Think about wanting to be rich
  • Determined and will take action towards building wealth
  • Entertained by the thought of wealth but will not take action
  • Controls fear
  • Fear controls them
  • Dedicates time to building wealth
  • Makes excuses for being staying poor

Action Item: Write a short paragraph about the reasons why you are looking to build wealth and specific details on why it is important to you. Declare to a supportive family member or friend that you are committed to becoming a millionaire.

 

Wealth File #4 – Think Big

Rich People Poor People
  • Think of building wealth on a large scale
  • Shortsighted vision of wealth
  • Aim to provide the highest quality of value to the greatest quantity of people
  • Does not believe in their own value
  • Ready to receive rewards and compensation for their contribution and expertise
  • Do not view themselves as worthy or deserving to receive


Wealth File #5 – Focus on Opportunities

Rich People Poor People
  • Focuses on opportunities – expands wealth
  • Focuses on obstacles – compounds problems
  • Constantly working towards their goals
  • Stalls on their efforts
  • Not afraid of unfavorable results
  • Fears failure


Wealth File #6 – Admire Other Rich People

Rich People Poor People
  • Admires other rich and successful people
  • Resents wealthy people out of jealousy
  • Views being rich as a positive status
  • Believes rich people are “bad”
  • Realizes that personal success stems from within and is unrelated to others
  • Blames the rich for their personal shortcomings

Action Item: Build a positive mindset about those more wealthy by blessing them at every opportunity.

 

Wealth File #7 – Associate with Other Rich People

Rich People Poor People
  • Associates with other successful/rich people
  • Associates with others who are also poor
  • Produces positive results by adopting good habits
  • Continues to complain amongst peers
  • Focuses on becoming the best version of themselves by choosing the proper environment
  • Focuses on being the victim with the worst story to tell amongst peers


Wealth File #8 – Sell Yourself

Rich People Poor People
  • Has high self-worth
  • Has low self-esteem and self-value
  • Confidently promotes self-value
  • Does not like the idea of “selling” themselves
  • Attract abundant opportunities due to a positive mindset
  • Misses opportunities for wealth
  • Have the advantage of leadership qualities and characteristics
  • Preprogrammed with disadvantages from past experience

Action Item: Learn how to sell and market yourself with passion, enthusiasm, and integrity through books, seminars, other media formats such as CDs, Tapes, etc.

 

Wealth File #9 – Be Bigger than Your Problems

Rich People Poor People
  • Confronts problems
  • Avoid problems
  • Seeks to grow a positive attitude
  • Swallowed by problems
  • Focuses on the end goal – Solution
  • Does not problem solve
  • Solves other people’s problems
  • Adds no value to other people


Wealth File #10 – Receive Excellently

Rich People Poor People
  • Excellent at receiving
  • Terrible receivers
  • High self-esteem – worthy of receiving
  • Low self-esteem – not worthy to receive
  • Open to more opportunities of receiving
  • Limits self from receiving in all aspects of life

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Wealth File #11 – Choose to be Paid Based on Results

Rich People Poor People
  • Prefers to be paid based on results
  • Prefers to be paid based on time
  • Higher earning potential through riskier ventures
  • Limited earning potential due to fear of risk
  • Entrepreneur – Business Owner – Commission Work
  • Fixed salary workers
  • Constantly improving and growing
  • Seeks to be “steady” and “secure”

Action Item: Try to transition from a fixed salary position into one that pays based on results.


Wealth File #12 – Have the Cake and Eat It

Rich People Poor People
  • Think of ways to obtain both options
  • Limited to either/or thinking
  • Identify wants, plans, and takes action to obtain both
  • Rationalize or justify why they cannot obtain both
  • Thinks Win-Win
  • Thinks Win-Lose or worst Lose-Lose


Wealth File #13 – Net Worth Over Income

Rich People Poor People
  • Focuses on Net Worth
  • Focuses on Income
  • Uses money as a tool to earn more money and build wealth
  • Rationalize or justify why they cannot obtain both – feels undeserving of money and wealth
  • Thinks Win-Win
  • Thinks Win-Lose or worst Lose-Lose
  • Manages and grows Net Worth
  • Efforts go into increasing working income with no management


Wealth File #14 – Manage Your Money Well

Rich People Poor People
  • Experts at managing their money
  • Mismanages or does not manage money at all
  • Practices smart spending habits
  • Has a habit of spending
  • Respects the subject of money
  • Avoids talking about money
  • Controls their money
  • Money controls them


Wealth File #15 – Put Your Money to Work

Rich People Poor People
  • Make their money work hard for them
  • Work hard for their money
  • Committed to money management
  • Does not manage their money
  • Thinks long-term
  • Seeks instant gratification
  • Utilizes passive income to generate more money
  • Network Marketing, investing in stocks, bonds, mortgages, liquid appreciating assets, businesses
  • Royalties from music, books, software, intellectual ideas
  • Money controls them
  • Falls into trap of “Keeping up with the Jones”
  • Constantly spends on materialistic things


Wealth File #16 – Move Past Fear

Rich People Poor People
  • Takes action despite feeling fear
  • Allows fear to prevent them from progress
  • Not afraid of failing to success
  • Too afraid of failure to succeed
  • Uses action to close the gap between inner and outer worlds. Actions transfers ideas into reality.
  • Unable to achieve success or greatness due to lack of action
  • Has mental toughness to be work through discomfort
  • Undisciplined mind avoids all types of uncomfortable situations – limits growth


Wealth File #17 – Keep Learning and Growing

Rich People Poor People
  • Constantly seeks to learn and grow
  • Believes they already “know it all”
  • Find ways to improve
  • Continues to make excuses
  • Does not let circumstances prevent progression
  • Places blame on external factors – mainly circumstances, often “luck”
  • Continually tries again after failing
  • Gives up and believe things are too difficult

CONCLUSION

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Key Takeaways from Secrets of the Millionaire Mind

  1. Master the money game by mastering your inner world.
  2. Your thoughts are the roots of your results.
  3. Success must come from a positive source of motivation
  4. Know your self-worth and do not be afraid to sell yourself
  5. Do not let negative thoughts limit your opportunities for success
  6. Fear is felt by everyone. Learn to be courageous.
  7. Control and practice managing your money or it will control you
  8. Seek to always improve yourself
  9. You can have a millionaire mind
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