This is the second time round that I have read this book and it was just as profound as the first time I read it. I have read quite a lot of books on wealth. Many that I will review over time, but this book has to be one of the classics for me.
I came across it when reading a book by Robin Walker who is touted as one of the best British writers on Black History by Akala.
Part one of the book is about Your Money Blueprint. Essentially this is your internal rulebook on money that shapes how you use and view money. If you are not where you want to be financially then your internal blueprint is accountable. Sometimes we want to shy away from this and look externally, but the author rightly highlights this as a victim mindset.
The second part of the book is all about the Wealth Principles, which also looks at the habits that can be an enemy to progress. At many points I found myself smiling when reflecting on the things that I am often guilty of.
In terms of the principles there is quite a lot to take from Secrets of the Millionaire Mind. One principle discusses the importance of balancing your finances and utilising various accounts. For example, it suggests having an account for investing that you do not touch and only take interest from when you retire. The point of this is to create passive income that you can live off and to continue to create a money tree for the future.
I can honestly say that I have read investment books in the past, but have been guilty of having a savings accounts for this exact purpose and then dipping into it. This is where the balance if having multiple accounts work.
There is also a principle of looking at problems from a level perspective. For example, if you are let’s say a level 2 person and have a level 4 problem, that problem is going to be huge for you however, if you grow to become a level 7 person that is going to be a much smaller problem for you.
Despite it sounding extremely simple it is a perspective worth applying. Those that are able to overcome larger difficulties are able to achieve greater success. The reason why this is the case is obvious, they do not fall and give up at the first hurdle and are able to make the most of larger opportunities. This ability to overcome hurdles is akin to training our muscles in the gym. The muscles first have to tear in order to grow.
Sometimes when you read these books you can feel like “ahh I have read a book like this before” or if you have read it before you can say “ahh I’ve already read it”, but as the author eludes to and as Anthony Robins says “Repetition is the mother of skill”. There is a difference between reading something and living it. It’s all about reprogramming your habitual thoughts that have been built over years and years and years.
Secrets of the Millionaire Mind has a straight talking tone while also injecting a bit of humour. I would definitely recommend it if you are interested in taking your financial life to the next level.
Some of my favourite excerpts are:
“It’s not enough to be in the right place at the right time. You have to be the right person in the right place at the right time.”
“Your income can grow only to the extent you do”
If you are not fully, totally, and truly committed to creating wealth, chances are you won’t.
“The Law of Income: You will be paid in direct proportion to the value you deliver according to the marketplace.”
You can buy the book here
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