Book Review ~ Secrets of the Millionaire Mind

Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by T. Harv Eker

My rating: 4 of 5 stars

Nice light holiday reading. Not really … more like thought provoking and new year resolution plotting. This book had a
few “ah has” for me which makes it a good reference book for the future.

Specifically I liked the idea of putting 10% of your earnings to put away to save for investing and another 10% into a savings or “spend” account. I think I need to look at the Canadian Tax Free Savings Account (which pays a high interest rate) to save for vacations and have the second one earning interest for us to create a seed account for investing.

Second, I really want to start creating a passive income. Eker provides examples of two primary sources of passive income that caught my attention. The first source is “money working for you ” (e.g. stocks, bonds, money markets, mutual funds, owning mortgages or other assets that appreciate in value and can be liquidated for cash). The second is “business working for you” (e.g. rental real estate; royalties from books, music or software; licensing your ideas; becoming a franchisor; owing storage units; owning vending or other types of coin-operated machines; and network marketing). page 157

Eker suggests you choose three ideas to research and become an expert on. I’m going to check out a few and see what is feasible on a modest or less financial investment commitment until our investment fund grows.

View all my reviews >>

(Visited 12 times, 3 visits today)

One thought on “Book Review ~ Secrets of the Millionaire Mind

  1. It's my first time here…. You are above me at SITS, so I thought I would stop over. Happy New Year!

    I heart your tiara! A girl after my own heart.

    Good review, but the subject of money always makes me grumpy… 😀

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.