Listen to the Episode Here (16:01)
August 7
Today I want to finish up our series of Harv Ekers 17 Wealth Files from the Secrets of the Millionaire Mind NYT Best Seller.
I’ll start again (in case you didn’t listen to the first 3 in this series) reminding you that we are talking about changing the way you think about things in your life in order to create a new, more abundant, mindset to lead you to success…in every area of your life.
Yes, we are talking in extremes…rich/poor…no, we are not judging rich vs poor…we are simply contrasting things that help you create more success, happiness and wealth into your life. And just to clear it up for you right now, I 100% believe that you are better off with more money and success in your life. Money is not good or bad. Your relationship and view of money can be good or bad, but money itself is a good thing, and you can do much more good with than without it…believe that.
So, let’s review how Rich and Successful people think and act and we can dig into the last 6 Wealth Files here today.
Review from last 3 episodes:
Wealth File #1
Rich people believe “I create my life.” Poor people believe “Life happens to me.”
Wealth File #2
Rich people play the money game to win. Poor people play the money game to not lose.
Wealth File #3
Rich people are committed to being rich. Poor people want to be rich.
Wealth File #4
Rich people think big. Poor people think small.
Wealth File #5
Rich people focus on opportunities. Poor people focus on obstacles.
Wealth File #6
Rich people admire other rich and successful people. Poor people resent rich and successful people.
Wealth File #7
Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
Wealth File #8
Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
Wealth File #9
Rich people are bigger than their problems. Poor people are smaller than their problems.
Wealth File #10
Rich people are excellent receivers. Poor people are poor receivers.
Wealth File #11
Rich people choose to get paid based on results. Poor people choose to get paid based on time.
This brings us to the final 6 Wealth Files to cover…
Wealth File #12
Rich people think “both.” Poor people think “either/or.”
I believe this principle is all about Abundant thinking…
Do you believe there is abundance in the universe? Are you willing to choose to believe there is abundance?
The reason this is so important is that “abundant thinkers” have opened the world of possibilities and believe that there is a win win available in each situation. They been with solutions rather than focus on the problem. Therefore they have more opportunity to create solutions, win at the game of life and their filter on life allows this.
If you are acting out of scarcity mindset, you believe that for every winner there is a loser. You believe that there are limited time, resources and opportunities in life. This is why you might resent others success. This is why you may blame others for failure and even blame your life, business, and relationships on being a victim of circumstance.
Ultimately, if you will choose to have an abundant mindset, I know that you will create much more success in your life. You absolutely can have your cake and eat it too. 🙂
Wealth File #13
Rich people focus on their net worth. Poor people focus on their working income.
This distinction has been wired into us from birth. What do you want to do rather than what do you want your life to be like. What do you make for a living rather than what is your net worth. We talk about budgets and expenses, but we don’t talk about, track or grow the other “key areas” of true success and net worth.
These other areas, as Harv puts it, are things like Income, Savings, Investments, Simplification…and I would add active and passive income streams. I would highly encourage you to always be increasing your active income (raising ceiling) while actively growing your passive income through business, investments and residuals.
No you might be saying, “George, I don’t have those other areas and don’t know where to start with investing or expanding my business from a “job” to a “passive” income stream.” Well, it doesn’t matter whether you are currently pursuing a course of action or don’t know where to start…the bottom line is “where focus goes, energy flows”. I didn’t have these either until I prioritized finding the right ones and learning, growing, networking, and developing them. That’s why i surround myself with successful people. That is why you are listening to this podcast.
The point I am trying to make is that you need to prioritize, focus and spend time on your NET WORTH and you will see it grown. This leads perfectly into the next wealth file.
Wealth File #14
Rich people manage their money well. Poor people mismanage their money well.
If you don’t learn to manage your money well, then your money will always run your life. Period. Obviously, this means you need to learn to properly budget your money…even if it seems like an overwhelming, boring or tedious task. And, you need to learn to be “frugal” with your money. I know most people view frugality in a bad way, but I’m saying you need to learn the difference between things that are expenses vs investments. You need to start “really and sincerely” thinking about if you NEED that new car, watch, lifestyle or you just WANT IT. When you start to plan an amazing life and start to follow that plan through a filter of frugality, you can create peace of mind, happiness, and amazing levels of success. This is because we stop “wasting money” to impress people that don’t really care about your lifestyle and wealth in the first place.
A good friend of mine, Bill Danko…who wrote The NYT Best Selling Book The Millionaire Next Door, discussed and showed clearly that it doesn’t take a exorbitant amount of money to create true wealth. He later went on to write another best seller, called Richer Than a Millionaire, that adds the idea that you can have Wealth and Happiness (which is better than just having wealth). But, it takes a PLAN. It takes FRUGALITY. It takes DISCIPLINE. It takes the CONSCIOUS DECISION to Manage your Money WELL.‘
In fact, Bill spoke at a recent High Net Worth Investor Conference we did and he taught me something I hadn’t heard before that leads right into the next wealth file.
Wealth File #15
Rich people have their money work hard for them. Poor people work hard for their money.
Bill talked about a gentleman named Franco Modigliani, who won the 1985 Noble Prize in Economics. He won the Noble Prize for his money life-cycle hypothesis. Basically, he said that through your working years and being Frugal…saving money is important so that you can build wealth…so that you can live comfortably in your non-working years when you are older. In other words: wen you are young, you WORK FOR MONEY…when you are old, MONEY WORKS FOR YOU.
The problem is that NO ONE is saving money anymore. People spend money on dumb stuff that doesnt build wealth just to impress people that dont matter. Worse yet, they spend money on things to make themselves feel good only to later realize that these things only bring temporary satisfaction and not long term happiness.
I know exactly how that feels and many of us can relate….can you?
Thank you Bill for listening and reminding me of these important principles.
Now, I know this is a long episode so hang in there with me while we approach the finish line cause this stuff is super important.
Wealth File #16
Rich people act in spite of fear. Poor people let fear stop them.
I have adopted and combined a few different mentor teachings on this topic because I feel its important. Prosperity Pillar # 3 is ACT IN SPITE OF MY MOOD. Let’s really discuss this for a second because this involves motivation, discipline and most importantly FEAR. Are you letting fear stop you or is it motivation, discipline or confidence.
Identify WHY and WHAT holds you back. Without doing this you cannot overcome this mindset. But, I will highly recommend one particular solution for you to consider….
You will be the average of the 5 people you surround yourself with the most…Belief Transference, Confidence, Motivation, etc. Got it?
Wealth File #17
Rich people constantly learn and grow. Poor people think they already know.
This one is self explanatory, but let me give you some examples…go through the last couple months of this podcast….
I am constantly learning, growing and developing. It’s what drives me, creates fulfillment for me and impact.
There is a reason for this…Its one of our 6 CORE HUMAN NEEDS, like Tony Robbins talks about. I am going to be covering the 6 Core Human Needs from Robbins next week so don’t miss it, but the key to understand here is that if you are not “growing” you are “dying”. If you are not learning (and think you know it all), you will NEVER BE RICH and SUCCESSFUL…at least not long term.
I hope you have learned a few things or recommitted yourself to a few areas in your life.
I’d like to ask you a couple favors….
1-sit down and review these wealth files and commit to implementing them in your life.
2-get a copy of Harv Ekers book and read it. If you cannot afford a copy then you really need to apply them but call me and I’ll get you one.
3-Please, Please subscribe to this podcast and share it with your friends. I don’t charge for my time and it takes a ton of time. I only ask that (if you have received any value) would you please share and get this message out past our thousands of current subscribers.
Thank again for listening today. Have an Amazing Weekend.
George Wright III
