“Secrets of the Millionaire Mind” by T. Harv Eker

Scribbling Thoughts Into The Wind by Mark Sebastian

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What exactly is a Millionaire Mind?

Will it make me a millionaire?  Or make me think like one?

Inquiring minds like mine want to know, so this was my next step on the Enwealthen journey.

At just under 200 pages, this is an interesting book.  It is easy to read, but be sure to take the time to consider each point in depth.  The more time you put into the reading, the more you will get out of it.

MMI In Person

I was introduced to T. Harv Eker’s Millionaire Mind body of work by a personal coach who invited me to attend a Millionaire Mind Intensive seminar in my area a short while ago.  The seminar was useful and informative, albeit 3 long days with periodic sales pitches.  Secrets of the Millionaire Mind is similar – useful, chock full of actionable information, with periodic sales pitches on the Millionaire Mind Intensive program.

T. Harv Eker is obviously a smart man to have built his personal training empire, and this is reflected in the book as much as it was the seminar.

Millionaire Mind, the Book

Written in a flowing, story-telling, style, this book makes me think it started as the transcription of one of his Millionaire Mind seminars, which was then edited down into the concentrated form – a classic, and brilliant, example of leveraging your effort to generate passive income streams.

If you are familiar with NLP, you will recognize many of the methods and models used throughout the book.  In effect, the author has taken the powerful self-improvement possibilities of NLP and applied it in a financial, wealth-building sense.

If you are willing to do only what is easy, life will be hard.  But if you are willing to do what’s hard, life will be easy.

— T. Harv. Eker

One of the key beliefs of Mr. Eker is that of the money blueprint – that you have inherited your thoughts and beliefs about money from various sources – and in order to reach a new level of success, you must identify those limiting beliefs and replace them with more powerful, more useful beliefs.  This is covered in the first section of the book.

Better Than The Rockford Files

“Wealth Files” and wealth principles are how he highlights common limiting beliefs and starts upgrading your thought processes, with several principles per file, and a set of actions you should do to counteract the belief.

You have to read the book to get the full effect, but I’ve included a few of the most memorable below, along with some of the action items, as a reminder for myself of things I need to work on and remember:

  •  Rich people think big  — Think leverage.  Brainstorm alone or in a group, ways you can solve problems for 10x the people you can reach at present.
  • Rich people focus on opportunities, not obstacles — Get started now on something you’ve been thinking about but have put off.
  • Rich people admire other rich and successful people — Practice the Huna philosophy “bless that which you want”.  Whatever you see that you like and want, bless it and bless the people involved.
  • Rich people are willing to promote themselves and their value — Use books, audio, or courses on marketing and sales and become an expert in both these areas.
  • Rich people are excellent receivers — Any money you find or receive, take and scream out “I am a money magnet!  Thank you! Thank you! Thank you!”  Goes for money you receive as gifts, you find on the ground, paychecks, investments, etc.  Any money you receive.
  • Rich people think “both” not “either, or” — Practice thinking and creating ways of having “both.”  Whenever alternatives are presented to you, ask yourself, “How can I have both”.  (e.g. the Coke Zero “And” commercial)
  • Rich people have their money work hard for them — change your focus from active income to passive income.
  • Rich people act in spite of fear — List your greatest worries about money.  Challenge them by writing down the worst case scenario and what would happen.  Could you survive and come back?  Now stop worrying and get to work.  (a.k.a. punch fear in the mouth)
  • Rich people constantly learn and grow — Commit to your growth.  Each month, grow – read at least one book, or listen to one educational audio, or take a seminar.  Your knowledge, confidence, and success will soar.

What To Do With All Your Money?

On the nitty-gritty of money management, he punts somewhat, recommending you find a financial planner, and for day to day cash flow, allocate your funds into 5 buckets:

  • 10% financial freedom – buying real estate, businesses, stocks/bonds, etc.
  • 10% long term savings – vacations, college fund, home renovation, etc.
  • 10% education – books, seminars, school
  • 10% donations / charity
  • 10% play – whatever you want, but have to spend it all every month
  • 50% necessities – food, rent, etc.

I like the allocation, and the buckets, although I’ve had significant problems setting this up in practice.

I created separate savings accounts for the first 4, and use my checking account for necessities (check out your local credit union rather than a large bank for this in order to get better service and lower fees).  It works well for the larger, slower accounts, like the financial freedom or donation accounts.  However, the book-keeping involved for reconciling the Play account against the credit card statement is a bit of a headache.

This would be much easier to implement in cash using envelopes or jars, but the overhead of doing it in Quicken or a bank account, is a bit much.  It may be easier to track Play as a budget target in my necessities account.  I’m trying that next.

It’s worth noting that this cash flow allocation scheme is covered in much more depth and detail in the MMI seminar.  If you’re curious about this system, check out one of the seminars in person.

Related Information

As always, here are books or authors called out in Secrets of the Millionaire Mind:

I’ve added these books to my to-be-reviewed list, and will write them up on Enwealthen as soon as I’ve read them.

The Verdict

In short, Secrets of the Millionaire Mind will not tell you how to become rich.

It will not tell you what to do to make money.

It will help you identify things holding you back from becoming the person you need to be in order to become wealthy.

However, I strongly recommend it for anyone not yet wealthy, and the less money you have, the more important it is to read this book.  The one caveat is to go into it with open eyes.  T. Harv Eker’s company, Peak Potentials Training, is in the business of selling you training.  Just because they are selling, doesn’t mean you have to buy.  As always, with any transaction large or small, caveat emptor.

Decide for yourself what you need, how you’re going to get there, and what you are willing to do, or pay, to do so.

You can purchase or read more reviews of Secrets of the Millionaire Mind on Amazon.

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Have you read the book?  Share your thoughts in the comments below.


“Scribbling Thoughts into the Wind” image courtesy of Mark Sebastian.


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