This article is an excerpt from the Shortform book guide to "Secrets of the Millionaire Mind" by T. Harv Eker. Shortform has the world's best summaries and analyses of books you should be reading.
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Is T. Harv Eker’s Secrets of the Millionaire Mind worth reading? What is the key premise of his argument?
In his book Secrets of the Millionaire Mind, T. Harv Eker argues that you can dramatically improve your finances by taking conscious control of your thoughts and adopting a rich attitude. Further, he outlines the different ways that rich people think and act in relation to money and includes practical techniques you can use to immediately practice this rich attitude and increase your income.
This Secrets of the Millionaire Mind review takes a look at the book’s impact, author’s background, and critical reception.
About the Author
T. Harv Eker is a Canadian multimillionaire, bestselling author, successful entrepreneur, and motivational speaker. He shares his knowledge about financial success in his popular Millionaire Mind Intensive events and seminars.
Eker experienced poverty and suffered the failure of multiple businesses. Determined to turn his life around and become a millionaire, he started to analyze the way rich people managed their money so that he could understand the cause of his own failure. His research led him to improve his attitude towards money so dramatically that he managed to turn a $2,000 credit card loan into a million dollars in the span of two and a half years.
Eker now shares the methods he used to create his millions through his Millionaire Mind Intensive events and seminars. While there has been some controversy about the sales tactics he uses to upsell additional courses and events, the seminars are hugely popular and attendees come from all over the world to listen to Eker’s advice.
Connect with T. Harv Eker:
The Book’s Publication
Publisher: HarperCollins Publishers, 2005
Prior to Secrets of the Millionaire Mind, T. Harv Eker also self-published Speedwealth in 2004, a short guide on how to earn millions from your business in less than three years. This book is exclusively available for sale at Eker’s events and seminars.
The Book’s Context
Unlike the majority of mainstream financial books (for example, I Will Teach You to Be Rich or The Automatic Millionaire), Secrets of the Millionaire Mind doesn’t offer practical action-based advice on how to improve your finances. Instead, it addresses how your thoughts and beliefs impact your ability to create and hold onto wealth.
The premise that your thoughts and beliefs define your financial success has become increasingly popular since the publication of The Science of Getting Rich by Wallace D. Wattles in 1910. Wattles asserts that your thoughts are the cause of your success, and offers advice on how to think constructively to create wealth. Other successful books in this genre include:
- Think and Grow Rich, Napoleon Hill: Argues that you can think what you want into reality
- The Psychology of Money, Morgan Housel: Discusses why you make irrational decisions about money
- Money and the Law of Attraction, Abraham Hicks: Explores how you can attract money by believing that you already have it
The Book’s Impact
Secrets of the Millionaire Mind ranked as the bestselling title on The New York Times and The Wall Street Journal upon its publication in 2005. It’s since sold over five million copies.
Eker was able to quickly gain traction and enjoy bestseller status without the support of a conventional marketing campaign by coming up with a way to cleverly leverage his network of followers. Eker employs many self-promotion tactics in his events and seminars. He relentlessly pushes his products and services to his network of subscribers and seminar attendees, and he offers cross-promotional discounts and rewards to encourage buy-in. For example, the original edition of the book included two free tickets to his Millionaire Mind Intensive Seminar.
Critical Reception
Many reviewers highly recommend Secrets of the Millionaire Mind as an inspirational and motivational read—they feel it empowered them to challenge their thoughts and beliefs about money, take action to change their mindsets, and build on this momentum to improve their finances.
While the book does include valuable insights about the wealth mindset, some reviewers feel slighted by the lack of detail or practical information—for example, Eker makes claims about how rich and poor people think but doesn’t back up his statements with research or statistics. In addition, he suggests a number of things you should do to make money but doesn’t explain how to do these things. As a result, many reviewers think the book is “too shallow” and overly repetitive. They also find his opinions about how poor and middle-class people think offensive and reductive. In addition, some reviewers find the book distasteful due to the amount of advertising Eker slips in for his own seminars.
Commentary on the Book’s Organization
Secrets of the Millionaire Mind is split into two parts. The first part explains how childhood influences conditioned your behavior towards money and how this shapes your financial reality.
The second part explores 17 ways in which rich people think differently from poor people and includes techniques and strategies to help you adopt a rich attitude and improve your finances. Eker attempts to organize the material into distinct principles but the thought processes and behaviors regarding money interlink and overlap with each other.
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Here's what you'll find in our full Secrets of the Millionaire Mind summary :
- The difference between the way rich people and poor people think and feel about money
- How to improve your finances by taking conscious control of your thoughts
- Why you may be holding yourself back from becoming wealthy
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