Secret of the Millionaire Mind: Wealth File #11 Rich People Choose to Get Paid Based on Results

This is a chapter-by-chapter summary of a book by T. Harv Eker’s Secret of the Millionaire Mind: Mastering the Inner Game of Wealth (2005) series. One chapter, one article. Read this summary, buy the book. Enjoy!

Wealth File #11:

Rich People Choose to Get Paid Based on Results.

Poor People* Choose to Get Paid Based on Time.

Harv Eker writes, “There’s nothing wrong with getting a steady paycheck unless it interferes with your ability to earn what you’re worth. There’s the rub. It usually does.” Wealth Rule #1: Never have a ceiling on your income. If you choose to get paid for your time, you are pretty much killing your chances for wealth, says the author. A steady paycheck is safe. A steady paycheck is also a ceiling on your income. A steady paycheck is killing your chances for wealth…

If you want to become rich, work for yourself or at least work on commission or percentage. That’s the only way you can get paid based on results write Eker. Maybe it seems less safe but it’s certainly how you can earn more money. And it’s the only way to get rich. It’s how you can earn what you’re worth. And living based on security (like a safe, steady paycheck) is living based on fear. What you’re actually saying is, “I’m afraid I won’t be able to earn enough based on my performance, so I’ll settle for earning just enough to survive or to be comfortable.”

Eker asks his readers: Who should get paid more, a good or a bad lawyer? I guess we’re all clear on that – the more you deliver, the more you should get paid. In a 9 to 5 job though, everybody is paid the same. Everybody is paid based on the time they “work.” He puts work in quotation mark became he thought it’s less about the work and more about the time… Again. Harv Eker is completely clear on that: If you want to get rich, you work for yourself!

[*I need to note that the Harv Eker makes it clear in this book that he does not mean to degrade poor people. He does not think that rich people are better than poor or middle-class people. They’re just richer.]

I Have A Millionaire Mind!