Developing a Millionaire Mindset
Do you have a millionaire mindset? Do you really deep down believe you can build wealth or are you living your life just going through the motions of working for your money. You know. Doing the daily grind. Is that you?
I talk with a lot of people who are going through the motions. Working. Making money. Spending money. Some are even saving money and some are even putting money aside for retirement, but sadly, bringing up the idea of becoming a millionaire seems to freak them out. Why? I ask myself why does the word millionaire freak some people out while it excites other people?
There are quite a few answers we could explore, but I believe it all comes back to mindset. They either don't want to become millionaires or they don't think they can become millionaires. But where does this mindset come from? I believe this anti-millionaire mindset comes from 3 things that I call myths of money.
Rich people are bad. I don't like the word "rich". I prefer the word wealthy. A wealthy minded person is a healthy-minded person. Wealthy people use their money as a positive force. They help people in need. They know that having more money allows them to help more people and have a bigger positive impact on society. However, there are some people with money who are jerks. I call these people the rich. Rich a**holes do exist, but that doesn't mean you have to be one. I've met many more wealthy minded people than I have rich jerks. If you become a millionaire, you can become a wealthy minded person.
Those rich people go lucky. This is totally bogus. Every millionaire I've spoken with earned their money. Almost every one of them are first-generation millionaires. The learned about money. They managed their money well. They built their own wealth. They didn't spend all their money on frivolous self-satisfying things like expensive cars, exotic trips, or the latest fad in clothing.
I'll never be rich. What a load of junk thinking. Every time I talk to a new person on my show I'm amazed by their stories of coming from poverty, low income, or middle-income families to become the first millionaires in their families. I thought I was special because I became a millionaire by age 40. Then I met Sal Leto, the guy that did it by age 30, JV Crum III, who became a millionaire by age 25, Kristi Shen, and Bryce Leung, who were millionaires at age 31. One thing I learned to believe is that anyone can become a millionaire.
Money is not the root of all evil. People misquote this phrase all the time and it adds to the broken mindset that money is bad. The real quote is "for the love of money is the root of all evil." If you love money, then your priorities are off. Get your priorities straight then you don't need to fear money or building wealth.
So let's change your mindset to a millionaire mindset. Write these things down on a card and meditate on them for the next 30 days.
Money is just a tool. I can use this tool to enjoy life and help others. The more I have, the more I can enjoy life and help others in need.
I can become a millionaire. People do it all the time from all walks of life. Black, white, Asian, or others. Men, women, poor, lower class, middle class. Anyone can become a millionaire.
I need to get smarter about money. I need to take the time to learn about money. Starting this week, I'm going to read or listen to books on money, find some good money podcasts. I'll start with David Bach, Robert Kiyosaki, Joe Saul-Sehy, JV Crum III then look for some others.
I need to get my money flowing in the right direction. That means I need to invest. I need to invest a lot. My first goal is to get to $10,000 per year. Once I get there, I'm going to push to reach $20,000. My mindset is changing. The more I invest each year, the faster I will reach my financial goals of financial independence and becoming a millionaire.
My life and my family's life is going to change forever. I'm going to bless my family with the knowledge of how to build wealth for generations to come. Everyone in my family will know what it means to have financial independence and be a millionaire. They will be better equipped to enjoy life and help others who need it.
These are just a few of the things mindset changes about life and money that happened for me on my millionaire journey. I believe you can do it. Change how you think about your life and money. The possibilities are endless.