Secret of the Millionaire Mind: Wealth File #15 Rich People have Their Money Work Hard for Them

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 #15:

Rich People have Their Money Work Hard for Them.

Poor People* Work Hard for Their Money.

“The more your money works, the less you will have to work,” said Harv Eker. The idea that you have to work hard to get rich is “bogus”! Eker suggests that if you want to be rich, let your money works for YOU. The magic word is working smart. That’s what the rich people have mastered, he said. The rich no doubt has to work hard, but only temporary. They work hard like everybody else but they think long-term and what they do with their money is smart – they save it to invest it later. First, they work hard for their money and later, they let their money work hard for them. Why do they do that? Because they want to be financially free!

“My definition of financial freedom is simple,” writes Eker, “It is the ability to live the lifestyle you deserve without having to work or rely on anyone else for money.” How is that possible? He said you need passive income. In short, you become financially free when your passive income exceeds your expenses (Income > Expense). There are two primary sources of passive income outline this wealth file. The first is “money working for you.” This includes investment earnings from financial instruments such as stocks, bonds, or other assets that “appreciate in value and can be liquidated for cash. Assets are the key here. These are investments in things that (hopefully) gain value over time.” Like buying land and selling it at a later point (when it has gained value).

The second major source of passive income is “business working for you.” This entails generating ongoing income from businesses where you do not need to be personally involved for that business to operate and yield an income. An example of this would be buying real estate and rent it out. “The idea of passive income is to generate income without having to actually work. Yes, this is possible!” Eker emphasis this: “Rich people think long-term. They balance their spending on enjoyment today with investing for freedom tomorrow. Poor people* think short-term. They run their lives based on immediate gratification.” You have the power to make choices. It’s a matter of priorities. “Poor people think now, rich people think balance.”

So, make the right choices and save some money today so you can invest tomorrow and be financially free the day after tomorrow. Like what Eker said, “Rich people see every dollar as a ‘seed’ that can be planted to earn a hundred more dollars, which can then be replanted to earn a thousand more dollars.” Awesome! From what I’m reading, that how the rich got rich! Hard work today, smart work tomorrow, and no work the day after tomorrow… pretty cool, right?

[*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!

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!

The 7 Habits of Highly Effective People #7 Sharpen The Saw

This is a chapter-by-chapter summary of a book by late Stephen R. Covey, writer of the most-effective personal development book, 7 Habits of Highly Effective People: Powerful Lessons in Personal Change (first published 1989). One chapter, one article. Read this summary, buy the book. Grow!

Suppose you were to come upon your neighbor in his garden working feverishly to saw down a tree. “What are you doing?” you ask. “Can’t you see?” comes the impatient reply, “I’m sowing down this tree.” “You look exhausted!” you exclaim. “How long have you been at it?” “Over five hours,” he returns, “and I’m super tired! This is hard work.” “Well, why you don’t break for a few minutes and sharpen the saw? I’m sure it would go a lot faster and easier,” you inquire. “I don’t have time to sharpen the saw,” the man says emphatically. “I’m too busy sawing!”

“Habit 7 is taking time to Sharpen the Saw,” Covey writes. “It surrounds the other habits on the Seven Habits paradigm because it is the habit that makes all the others possible.” He also claims that a person’s nature consists of four (4) dimensions: Physical, Spiritual, Mental, and Social/Emotional. In order to be effective, we must invest some time to renew these dimensions so we can increase our potential in practicing each habit.

Physical Dimension Focuses on improving your health by exercising your body, eating the right kind of foods, and get sufficient rest and relaxation. This way you develop Habit 1 (Be Proactive) muscles of proactivity. The paradigm of yourselves, your self-esteem, your self-confidence and your integrity will be profoundly affected.

Spiritual Dimension Focuses on renewing your spirit by providing leadership to your life. This one develops Habit 2 (Begin With End In Mind). It is your core, your center and your commitment to your value system. For example, by reading, meditating or communicating with nature, you feel renewed, strengthened, centered, and recommitted to serve.

Mental Dimension Focuses on renewing your mental health by continually expanding your mind. This dimension develops Habit 3 (Put First Things First). It is a fact that most of our mental development and study discipline comes through formal education. After it’s finished we don’t explore new subjects and we often become victims of the media and the values taught through them. Wisdom in watching the media requires the effective self-management of Habit 3, which enables you to discriminate and to select the informing, inspiring, and entertaining programs which best serve and express your purpose and values.

Social/Emotional Dimension Focuses on renewing yourself socially by developing meaningful relationships. This dimension helps you to practice Habit, 4, 5, and 6 (Think Win-Win; Seek First to Understand; Synergize) by interacting with other people, finding win-win solutions to your issues, understanding others and synergizing by finding mutually beneficial third alternatives.

Last but not least, BALANCE is the key. As Covey states, “the self-renewal process must include balanced renewal in all four dimensions of our nature: the physical, the spiritual, the mental, and the social/emotional. Although renewal in each dimension is important, it only becomes optimally effective as we deal with all four dimensions in a wise and balanced way. To neglect any one area negatively impacts the rest.”

Sharpen the Saw! Increase Each Habit Potentials!

How to Choose Optimism #2 Don't Simply Count on Good Luck

After a setback, many people tell themselves: “I’m not lucky.” But there’s no such thing as luck. People who are thought to be lucky go out to meet what Niccolò Machiavelli, the philosopher called good fortune. They take initiatives and make contact with many people, increasing their chances of finding reliable friends, a job, even business/ministry opportunities. It is energy – not luck. It is willpower, the spirit of conquest, moving forward. It’s crucial to never lose your motivations.

Don’t believe luck is always with you. Let’s say you present a project. Everything is going wonderfully. But nothing comes of it. The explanation is simple: the person you were talking to is not interested but does not wish to upset you or waste his time discussing it. By contrast, many proposals that get a negative response end up having a positive outcome.

The basic principle: nothing is ever going as well as we think, but nothing is ever going as badly, either. Optimists know nothing can be taken for granted, that everything has to be earned. So work hard!

Lord, Give Us Today Our Daily Idea(s)

Beware: Multitasking Will Decrease Your Productivity

A study at The British Institute of Psychiatry showed checking your email while performing another creative task decreases your IQ in the moment by 10 points. This decrease is the equivalent of the effects from not sleeping for 36 hours – and exhibits more than twice the impact of smoking marijuana.

In a study of 1,000 of its employees, Basex, an information-technology research firm, found striking data showcasing inefficiency. It was determined that 2.1 hours per day is lost to interruptions. This figure indicates over 26 percent of the average workday is wasted due to multitasking and unwanted interruptions. Jordan Grafman, chief of the cognitive neuroscience section at the National Institute of Neurological Disorders and Strokes, explains, “There’s substantial literature on how the brain handles multitasking. And basically, it doesn’t… what’s really going on is a rapid toggling among tasks rather than simultaneous processing.”

Another study, conducted by professors at the University of California, observed the workflow and time-on-task of employees at two high-tech corporations. They discovered that the employees only spent an average of 11 minutes before being interrupted or having to move on to something else. It then took them 25 minutes to work their way back to their original task.

“If you are constantly being interrupted by fellow employees, instant messages, or phone calls, reserve a small conference room for a little bit of time, grab your laptop, and crank away,” write Erik Qualman, author of Digital Leader. “If you are at your home go to a local coffee house or a park with your laptop and tablet. Another trick is to wear your phone’s headset or earbuds even when you aren’t on a call as people will be less likely to interrupt you.” The truth is: Multitasking actually leads to less productivity and efficiency.

Lord, Give Us Today Our Daily Idea(s)

Change Your Life: Experience Your Work as a Calling

Don't like your job?
1) Find work that is meaningful, or
2) Find something meaningful in your work

“This is the true joy in life –
being used for a purpose, recognized by yourself as a mighty one”

(George Bernard Shaw)

We spend a good part of our working hours at work, and yet many people derive little meaning from what occupies them for several thousand hours each year. If we do not experience a sense of purpose in our work, we can choose to do one of two things (aside from resigning ourselves to being unhappy): find work that is meaningful or find something meaningful in our work.

We don’t all have the luxury of having the perfect job – the one that reflects our values, where we work only with people we like, and whose atmosphere precisely suits our temperament. But even if we do not find ourselves in that ideal setting, we have a great deal of choice as to how we experience our daily work. Whether as a CEO or a salesman, an investment banker or a community organizer, a minister or a manager, a janitor or a cleaner – not complete control, perhaps, but some – over what elements of our work we focus on, and consequently, on how we experience our working life.

We can, for example, remind ourselves how our work is making a difference in other people’s lives; we can focus on the elements that we find exciting and interesting, the meaningful interactions that we have with colleagues and customers; or we can appreciate the opportunity our work gives us to develop or expand our professional skills. If we can find no inherent value in our current occupation, we can tell ourselves that our work is our current occupation, we can tell ourselves that our work provides for us and for those we care about, or that it enables us to engage in meaningful activities after hours.

Researchers have found that those who made the choice, conscious or not, to see their work as merely a job, were less happy, were less satisfied with their life, than were their colleagues who viewed what they did a calling. “Even in the most restricted and routine jobs,” the study concluded, “employees can exert some influence on what is the essence of their work.”

Don’t treat the work you do as a job,

Experience your work as a calling.

Lord, Give Us Today Our Daily Idea(s)

 References:

1. Choose the Life You Want: 101 Ways to Create You Own Road to Happiness by Tal Ben-Shahar, PhD (New York: The Experiment, 2012) Buy this book!

2. The Path to Purpose: How Young People Find Their Calling in Life by D. William (New York: Free Press, 2009).

Work Transform Talent into Genius

Lord, Give Us Today Our Daily Idea(s)

How to Spark Your Creative Mind

“All human beings have the capacity to generate novel, original, clever, or ingenious products, solutions, and techniques. Creative human beings develop that capacity… Creative people take risks and frequently push the boundaries of their perceived limits” (Art Costa).

“A mind that is stretched to a new idea never returns to its original dimensions”
(Oliver Wendell Holmes).

Creativity can be hard to define. How do you describe the “Eureka!” moment when a person experiences a creative insight? Some researchers define creativity as combining existing elements in an innovative way that creates a new purpose (for example, motor + bicycle = motorcycle). Others see creativity as the art of generating novel ideas from taking a fresh look at how things are interrelated (for example, as Charles Cave writes, “…noting the regular diet of ladybugs inspired organic farmers to bring ladybugs in to consume crop-destroying aphids”).

Thinking about what is creative may call to mind images such as street buskers playing guitar and drummer banging out a complex rhythm at Waterfront Kuching or the designs for the Dewan Undangan Negeri (DUN) Sarawak building. Creativity, however, encompasses much more than music and art. Creativity gives rise to innovative ideas and products that bring changes both great and small.

Consider the following examples of creative innovations that have had an impact; Art Fry and Spence Silver invented the Post-it^TM in 1980, enabling people to save paper and protect documents by using removable notes; agricultural chemist George Washington Carver developed the revolutionary method of crop rotation – alternating soil-depleting crops with soil-enriching ones – allowing land to be used more efficiently; Jim Henson revolutionized children’s television and the way children learn about the world through his invention of the Muppets and development of Sesame Street (a TV program that I like very much when I was a kid); and more.

Creativity doesn’t just happen on these world-shifting levels. You too are a creative thinker. Every day you do some sort of creative works. Your everyday moments of creativity might include events similar to mine as following: Thinking of a new way to talk to co-worker about a problem, changing how I commute to office so that I can work or listen to audiobook while I’m in transit, and finding a unique way to write a blog topic that sets it apart from other articles posted in the internet (Okay, maybe not everyone doing these. But I hope you get what I mean). 

Learning how to heighten your creativity will boost your ability to think productively and successfully. Begin by thinking of creativity in three separate ways:

1) The characteristics of the creative person

2) The type of environment that fosters creativity

3) The stages of the creative process

As you work toward any creative outcome – a novel solution, idea, approach, tangible product, work of art, system, or program – focus on these three elements to maximize your creative abilities. I will post each how-to boost your creative thinking in following post article. Stay updated.

Lord, Give Us Today Our Daily Idea(s)

5 Words to Know that You're Creative

“In the beginning God created the heavens and the earth” (Genesis 1:1, NIV)

Dorothy Sayers once said that if all we knew about God was the first five words in the Bible, all we would know is that God is creative. When in the first words of the Bible, we discover God’s identity as a creator, we get a glimpse of our own identity as humans who possess creative capacities.

Genesis (chapter 1) reveals the dimension of God’s creative process, which, not surprisingly, given our creation in God’s image, is replicated in human creativity. “In the beginning, God created.” God brings something out of nothing and order out of chaos. “The earth was a formless void.” God is a seer who can envision something others cannot and then imaginatively reveal the new reality as a unique, distinct entity. “God saw what He had made and it was good.” Like God, the good artist strives for excellence, not just expression, and the spiritual, intellectual, and imaginative quality of the work is the measurement by which we determine the worth of our art. “The heavens declare the glory of God,” and the human artist seeks to relate and communicate through his or her art.

Our human creativity originates in God’s creative image, which is imprinted in our genetic code. Whereas God created out of nothing; humans create out of what exists. So Igor Stravinsky observes, “Only God can create. I make music from music.” Great artists will tell you that their imaginative inspiration comes from some unknown place. Filmmaker Ang Lee confesses that when things work, they come to him; they are not what he was willed. Mark Doty says that a good poem is something he finds, not something he makes. Imagination cannot be manufactured or willed into being, yet it is at the heart of the creative enterprise. God creates from a known place, Himself, and at God’s core, you find an imaginative being.

Imagination reflects originality, intuition, and the hitherto unseen, and so we evaluate our individual and cultural health by looking for evidence of our imaginative capacity to deliver the new and fresh, which elicits and illuminates deeper, transcendent meanings.

As image bearers, we are designed with a creative capacity.

Lord, Give Us Today Our Daily Idea(s)

[Quote from The Culturally Savvy Christian: A Manifesto for Deepening Faith and Enriching Popular Culture in an Age of Christianity-Lite by Dick Staub (John Wiley & Sons, Inc., 2007) page 52-53]

Paradox of Creative People: Atomic Bomb and Lazy Chair

“Creative people have a great deal of physical energy,

 but they’re also often quiet and at rest”

(Mihaly Csikszentmihalyi, psychologist and author of Creativity)

Creative people are characterized by the fact that they have both abundant energy and a great need for relaxation. They are able to work hard and at long hours (sometime they forget to eat!). They also have a great focus and concentration on the subject they are engaging in. They have these invisible signage on their forehead: “Do not disturb”; “Man at work”; “I’m on fire!” Because of that kind of activities – thinking, working and focusing – they need massive energy. And where they get that huge amount of energy? From within. Like atomic bomb, a small seed of purpose mixed with passion they can produce extraordinary energy!

But on the other hand, they are also often quiet and at rest. My grandpa is a creative person. He is full of energy even though he is at his near eighties. His hobby, now become his career, is to make parang (a type of knife). He will wake up early in the morning, doing his craft until late afternoon with high energy level. And on the evening he would drink his beer or just smoke a cigarette, resting quietly enjoying the sunset or simply watching TV – and sometime fall asleep. Just like that. I often saw him sitting alone and just reflecting the day. Like sitting on a lazy chair, creative people also enjoy moments of idleness and lazy day.

God, Give Us Today Our Daily Idea(s)

Nurture Creativity: "A" for Passion, "E" for Boring

“Passion drives creativity. Fuel it, protect it, tend it, grow it.

Manage it as the renewable resource it is”

(Marty Neumeier, The 46 Rules of Genius)

Passion is everything. Creativity that work doesn’t happen without it. Passion plays an important role in creative pursuits. At first, passion sparks our interest and a relentless desire to focus and learn. During the tough times and as idea development become harder, passion keeps us going. Yo-Yo Ma, a French and American cellist, said, “Passion is one great force that unleashes creativity, because if you're passionate about something, then you're more willing to take risks.” Many of the greatest ideas are fuelled by passion. For example, Google is fuelled by passion for information, Virgin is passionate about customer service, and Apple is for design.

When I was a kid, I have many interests and passions. I love drawing, playing video games, create my own toys, making Batman costume and gadgets (and tested it on my sidekick-childhood friend), watching Ultraman, and almost obsessive of becoming a Superman. My childhood passions then change as I walk into adulthood and I find new things to be passionate about. But as I get older, I become focused on my passions such as teaching, reading, writing, theology and creativity. All of these becomes key part of my life and actually almost defines who I am. If you want me to fall asleep while you’re talking, talk about car and clothes. But if you want to hear my sense of excitement and energy, talk about books and theology.

Now, everyone’s passion is different, I know. But let me ask: What is your passion in life? You must dig deep to identify your true passion. Remember, passion drive creativity. “Passion makes the world go around,” wrote Henri-Frédéric Amiel, “It is the juice that drives creativity. When you care enough to put your heart into your work, passion will keep you going through thick and thin.” Do what you love. The moment you find your passion can be one of the most fulfilling moment in your life. Doing what you love will lead you to success and sustain you when you fail. Ask yourself, ‘What makes your heart sing?’ Follow your heart.

When I think again about my first sentence above, I changed my mind.

Passion is not everything.

But then again, without passion life is boring.

God, Give Us Today Our Daily Idea(s)

Nurture Creativity: Begin with the End in Mind and Take Actions

“[Begin with the end in mind] is based on imagination –

the ability to envision in your mind what you cannot at present see with your eyes”

(Steven R. Covey)

I love Dumb and Dumber To (2014) the movie – yesterday’s series, today’s movie. I love to watch Jim Carrey acting. I love Jim Carrey and I think he is one of the most creative people in the entertainment industry. Let me tell you his story before he become a megastar. Carrey spent a lot of his earlier time dwelling on his future. He believed he possessed the talent, but he wondered if his fifteen years of experience in the comedy clubs would make him go further. Until he did, he said, he could only practise, work hard, and maintain a positive attitude.

There was one time when he could not send money home or when his comedy appearances did not fare well, a depressed Carrey would lie awake at night questioning if he had done the right thing. In his book People in the News: Jim Carrey, John F. Wukovits quoted Carrey as saying: “You lay on your bed and the thing that you think about most is, ‘What is it about me that’s special and different? What’s my thing?’ I would struggle with that, trying to define myself.”

One time he wrote a fake cheque to himself in the amount of $10 million for ‘Acting services rendered’ post-dated it for Thanksgiving 1995, and placed it in his wallet as both an encouragement and a reminder that one day he would triumph. Carrey did not sign the cheque because he hoped to be wealthy, but “I wrote it as an affirmation of everything I learned. It wasn’t about money. I knew if I was making that much, I’d be working with the best people on the best material. That’s always been my dream. My parents taught me to believe in miracles. My life is proof that they exist.”

John F. Wukovits further wrote, “Jim Carrey often drove up Mulholland Drive and parked where he had a clear view of Los Angeles. Staring at the sprawling city below, Carrey promised that one day he would succeed in the entertainment business and that he would be the toast of the town.” Yes, no doubt, Carrey did it! See what he have become today. Creative people like Jim Carrey see the future with the end in mind. They dream dreams and they ask questions that will empower themselves to do whatever it take to achieve it. Creativity in itself it not enough. Awesome idea is not enough. Talent is not enough. Like Carrey, we must work hard, practise and maintain a positive attitude. In other word, creative people take actions. But first, creative people begin with the end in mind.

Begin with the end in mind and take actions, massive actions!

Lord, Give Us Today Our Daily Idea(s)

Be Creative: Let’s Get Started!

“Creativity with Food” by Hong Yi 

“One is not born a genius, one becomes a genius” (Simone de Beauvoir)

Creativity cannot be taught in the way that you can teach maths – nor by merely reading books or thru this blog articles – but it can be encouraged to grow and cultivate. If you decides to be creative, you’re conditioning yourself to be creative and welcoming good ideas into your mind. You don’t need to be a genius like Albert Einstein or cleaver like Edward de Bono or multi-gifted and talented like Leonardo da Vinci, all you need to do is to open yourself to the creative spirit that lies within you. Everybody have the capacity to be creative. So, be confidence and get started!

Here are some tips from Robert Allen, author of How to Be a Genius, on how-to fan your creative spark into a flame:

§  In future, all your ideas (however trivial they may seem) have to be collected and kept. You never know when an idea will come in handy, or when something that seemed unimportant when you first thought of it will suddenly become of vital importance.

§  Pick some creative projects to get yourself started. It helps to have several projects on the go at the same time, as they tend to cross-fertilize each other. It also helps if the projects are of quite different types.

§  Work on your project regularly and methodically. Don’t ever just sit around waiting for inspiration. If one project gets bogged down, turn to another and work on that. Make sure that you set yourself goals and deadlines – if you don’t do this, you may find that you run out of steam and fail to finish things you’ve started.

§  Try to keep your attitude as flexible as possible. Your subconscious mind has an agenda of its own and, in order for your efforts to succeed, you need to prepared to change your plans to accommodate whatever your subconscious prompts you to do.

§  Remember to have fun! Creativity is hard work but it is also enjoyable. Don’t get so focused on attaining your goal that you forget to enjoy the creative process.

§  Remember that having bright ideas, though very important, is only a part of the creative process. Once you have the idea you then have to work hard to bring it to fruition. This is the part of the process that defeats many would-be creative people. They enjoy the processes by which bright ideas are born but lack the energy to see their project through to the end. What a waste of good ideas! Make sure that you are a worker as well as a dreamer.

Be creative, let’s get started!

Lord, Give Us Today Our Daily Idea(s)

5 Most Prominent Characteristics of Creative People

“Do you see a man skilled [and creative] in his work?

He will stand before kings; he will not stand before obscure men”

(Proverbs 22:29, bracket mine)

Studies of creative achievers have identified a number of characteristics they share. The following characteristics are among the most prominent. CLICK PICTURE TO ENLARGE and feel free to copy too :)  

Here is my another blog: http://wordspeakstoday.blogspot.com/

Lord, Give Us Today Our Daily Idea(s)