Millionaire Mind Trainer Part I
Updated: May 21
I can help you train your brain to create a millionaire mind.
Usually, obtaining a millionaire mind means learning the required concepts and skills through a lengthy process of building at least a million dollars in assets. This journey usually takes around 25 years and only about 8.8% of the population ever experiences it. During the journey, you learn many lessons through experience. Learning through experience is extremely time consuming, which explains why the average self-made millionaire is 57 years old.
Millionaires will tell you, “If I only knew then what I know now.” They could have completed the journey faster and created much better results. I can teach you to create your own “millionaire mind” without having to trek through a 25-year journey of wealth building. Creating a millionaire mind will bestow upon you the valuable advantages of being able to shorten your wealth-building process by reducing the number of mistakes you make and supercharging your informed efforts to obtain your goal. If this sounds like something you would like in your life, obtain the needed skills by reading and performing the training below.
Millionaire Mind Training/Concepts
We will start the journey with the concepts you need to understand, then we will cover the practical skills you will need to develop related to each concept.
1. Financial prosperity is an active choice.
You must choose to create prosperity in your life. It rarely happens by accident. Ninety-two percent of millionaires set financial goals (https://esimoney.com). This commitment also means you are willing to put in the required effort to achieve a goal that over 90% of our population is unwilling or unable to do. Most people are too lazy, don’t know how to do it, or have too many “life problems” they have not managed to overcome to even consider this financial achievement a realistic goal.
How to train your brain to seek financial prosperity:
Money itself is not a motivator. What money can give you, however, is. You harness this concept by determining your “why.” Why is this worth the effort to you? For my wife and I, it is the freedom money provides us. We can travel (what we love) whenever we want. We have literally been all around the globe. What about you? Why is this journey worth the effort to you?
Write down your financial goal at the top of a piece of paper. Decide what your financial goal number will be, and then pick a date you are willing to commit yourself to for accomplishing that goal. Post it on your wall and look at it daily. Underneath your goal, write down all the reasons you want to become a millionaire. Writing down your goals increases your chances of success by 42%, according to Dominican University of California. This process relies heavily upon Locke’s Theory of Goal Setting, and it trains your brain to strive toward your goal by clarifying what your long-term objectives and behaviors should be. Goal setting has also been shown to promote happiness, and it encourages us to use our talents and abilities to create the life we envisioned.
Looking at our goals every day impacts our conscious and subconscious minds. The constant review keeps these objectives in the front of our brains. It will be very obvious to us when we are not acting in accordance with our set goals and expected behaviors.
2. Increase your net worth.
Our popular culture is stuck on the concept of “saving for retirement” primarily because the financial investment business is geared toward selling you financial products in the retirement category. Therefore, we are constantly being reminded we should “save for retirement.” Saving for retirement can become a mental trap. It is super easy to put off saving for retirement until later—usually much later. According to fool.com, a little less than one-quarter of our population started saving in their 20s, another quarter started saving in their 30s, and another quarter in their 40s. This is not what you will be doing. Instead, you will be increasing your net worth every day. Net worth means all your assets (items of monetary value) minus all your liabilities (loans). Sure, we will use retirement accounts as vehicles for our investments first, but the goal is to increase net worth, not just retirement.
Training your brain to seek a higher net worth
Complete a spreadsheet (or just take pen and paper) and list all your assets, such your car, house, bank accounts, retirement accounts, etc. Then subtract all the liabilities or loans you must pay. The total is your net worth. The idea is to move this to a positive number (a negative number means you owe more than the assets you have) that gets larger every day, week, and month. Repeat this process no less than once a quarter to track your progress. Then chart your progress and post that chart on your wall. Constantly visually reinforcing your numerical net worth will train your brain to evaluate all spending relative to this goal. It also emphasizes the harmful impact debt has on you. Increasing your net worth regularly is every bit as important as increasing your salary for creating financial success (investopedia.com).
Stayed tuned for Parts 2 and 3 of the Millionaire Mind Trainer.