Millionaire Mindset: Unconscious Beliefs Are Controlling Your Income!
Barry Masterson QFA
Data Analyst (WFM) | AWS Certified Solutions Architect Associate
Have you ever read T. Harv Eker’s book “Secrets of the Millionaire Mind”?Do you believe that you have unconscious habits that you act out every day? Do you believe that these unconscious habits could have shaped the life you live today and the life you will live in the future?
Today I’m going to share some of the most important messages from “Secrets of the Millionaire Mind”. These secrets aren’t just interesting; they could change your life forever!
"Secrets of the Millionaire Mind” truly revolutionized the way I think about money. I was one of those rocker kids in school, one of the kids you’d find standing at the schoolyard gates pretending they enjoyed smoking and wearing a Nirvana t-shirt. I aspired to be like my heroes from Nirvana, the Clash, Pantera, Rage Against the Machine etc..
All of these bands preached about fighting the system and how money is evil. They would be considered sellouts if they ever bowed to the system and put their music in an advert. How insane is that, you’re considered a sell-out if you look to make money from something you’ve worked your whole life to produce.
My musical heroes were teaching me that I should want to be a poor artist that only scraped together enough money to survive. Part of me wanted to be a homeless traveler who had nothing but a guitar and the change in his pocket. The irony is that all of my heroes were very rich and made their money from selling music. It might not sound cool, but sales give people the opportunity to live a life where they can express their talents. Money makes the world go round, so why do so many of us fear money? Why do so many of us think money is evil?
How many of us have grown up watching movies that told us that rich people are evil? The bad guy in a movie is so often the rich guy; the poor guy is often the hero. The rich businessman wants to pave paradise and put up a parking lot. Eventually, the poor guy saves the day and wins the woman while the rich guy ends up in jail. The poor guy doesn’t need money because he has love. The credits roll and we have a beautiful happy ending.
What we don’t see is life after the credits roll. The struggle to make ends meet, the ties to the same place at the same time, week in week out until death. The stress of paying for the kids to go on that school tour and eventually to college. The lack of free time to spend with family because of a ball and chain in the form of a job or “career” that ends up being a mistress.
The movies would be so much more boring if we saw the truth, that most rich people are good and decent loving people trying to do the best for themselves, their family, and the world. If these rich people were evil, do you think they would have the trust of the people that do business with them?
We often see news reports of “crooked” rich people because it is interesting to show the crooked villain. It’s more interesting to report on the 1% of evil rich people than the 99% of good rich people. There are good and bad rich people, the same as there are good and bad poor people. Money just amplifies who you are as a person already. If you are charitable, you’ll be even more charitable. If you are greedy, you’ll be even more greedy. But when you have money, at least you have a choice.
Many of us grew up with our parents telling us that there wasn’t enough money to get what we wanted, or they told us to be careful with our money, they told us that money is precious because it is so hard to come by. These are all legitimate statements said by caring parents but they were all said at a time when we were very impressionable and our brains were still forming.
Most of us grew up with a mindset of non-abundance. We believed that there wasn’t enough money for anything, that money isn’t made easily, and we took this belief into our adulthood and lived by this rule every day. Many of us live with the mindset that we need to scrimp and save to ensure we have money for a rainy day, even though most of us don’t have money for a rainy day.
Many of us grow up with a limited mindset when it comes to investing our money in order to make more money. We choose the comfort of keeping what we have because that’s guaranteed rather than investing that money to make more.
I remember dropping 50 cents when I was young, and my father picked it up angrily and said: “be careful, money is precious, this doesn’t grow on trees!!”. It was a fair and legitimate statement and he was right. But that statement entrenched itself in my mind and it made me worry about money and fear losing it. If he said the same thing in a slightly different way, it could have radically changed my perspective on money.
My father could have said, “Barry, take care of money and it will take care of you, the more you have the more you’ll make, you are a money magnet”. Now they might seem like magical words and I’m not suggesting any law of attraction would have come into play. What I am suggesting is that he may have placed a more positive relationship with money in my mind. The words we are exposed to as children are so important.
Schools and Colleges are great institutions and such important privileges for children to receive, but we have to really think about what we are teaching our children in schools. There is a reason why so many people rely on the system, with no coping skills, and suffer from anxiety and depression.
From the age of 4 or 5, we are sent to an institution that organizes our day and teaches us how to think. Actually, schools do a lot of thinking for us. We’re trained to take our breaks at a certain time, and a bell signals us when the day begins and ends. We are trained to rely on a system that will prepare us to move into another system. At no point are we taught how to be happy, or how to cope with life’s problems, or how to go after what we want. School is designed to make the system work, not to make the individual happy.
The whole aim of school is to prepare young people for work, or for college. If you go to college, they may finally teach you about becoming an entrepreneur but the irony is that you are usually learning off a person who is not an entrepreneur. Usually, you learn sales off a person who has made very few sales, often you are not learning from someone who has been truly successful in their chosen field.
If you were being taught by a true Entrepreneur, I think one of the first things they would say to you is “get the F**k out of College!! You are wasting your time here”. Why would anyone who wants to be an Entrepreneur waste at least 4 years of their life waiting for college to tell them to get out there and be creative? And that’s the thing; Entrepreneur is a kind of buzzword for being creative and doing what you want. When we finally complete our education, we end up in the dreaded 9 to 5.
Money equals freedom. How many of us get up for work and dread it. Or if you don’t dread it, you numb yourself to it, and you just go through the motions day in day out. You wait for Friday to come, you do whatever your plan was for Saturday, you do your weekly shop on Sunday and before you know it, it’s Sunday evening and you’re dreading Monday morning again. It often feels like you only get one day off a week, and then you get your 20 holidays a year and (cough cough) the odd sick day.
You do this over and over again, like a hamster on a wheel, until you wake up one day and you’re 68 and it’s time to retire, and you know what, you’ve saved f**k all, and that pension you’ve been paying into is worth f**k all if it even exists. Think of all the hours of your life that you traded for a few dollars or euros, all the moments you could have spent with loved ones, all the moments you could have spent exploring the world. But you traded it all for the comfort of knowing that next paycheck was coming….. and it wasn’t your fault.
It wasn’t your fault because this is the way you were conditioned and trained by your social circle, your family, and the education system. You weren’t trained to go out and get what’s yours; you were trained to serve the system and not yourself. There’s a reason why so many “Entrepreneurs” are school dropouts, a lot of them can’t even read that well!! The difference is they don’t think how we’ve all been taught to think. Some poorly trained dogs will wander all around town getting other dogs pregnant, while well-trained dogs will sit in a back garden all their lives.
We exist in a time when you can access billions of people through social media. All of these platforms allow you to advertise on them, you can create advertising campaigns that will reach the whole world. You may think other people can do it but you can’t, you may think it isn’t possible for you to be rich, but ask yourself why you do?
Why is it that some people are so rich and some people are so poor? Is it because rich people are so much smarter than poor people? I think we’ve all met very smart poor people, and I think we’ve all met very stupid rich people. Are rich people luckier than poor people? If that is the case, then some families go through generations of bad luck while others go through generations of good luck.
The real answer is that some people have positive beliefs and habits when it comes to money while others have negative beliefs and habits around money. So much of it has to do with the family, the environment, and the place in which a person is born.
Are you from a poor or a rich family? If you are from a poor family, then how many generations of your family have been poor? Has your family always been poor? Have they always been poor because they just followed what their ancestors had done? And what about you? Will you follow the trend of your family? Or do you plan on breaking the chain and changing the lives of the many future generations of your family?
Begin by uncovering your unconscious habits and beliefs, then align them with those of a rich person.
Barry