Book Review: Secrets of the Millionaire Mind

Despite a couple of flaws, this book is worth reading and I even found it worth giving as a gift. First the flaws:

  • The book is sprinkled with occasional suggestions to attend the author's educational seminar, and even to pay big bucks for it. That said, if you buy the book, you can apparently get two free tickets to the course.
  • To further his own arguments, the author occasionally misrepresents referenced authorities on finance.

If you’re the type to throw the baby out with the bathwater, then you won’t get past these flaws, so don’t waste your time with this book.

This is more of a motivational seminar than a manual of personal finance. Sort of a featherweight version of The Seven Habits of Highly Effective People, it’s primarily about changing patterns of thought that obstruct people from making money and achieving financial success. It assumes (not unreasonably, in my opinion) that once this internal battle is won, opportunities for financial success will become readily apparent and surprisingly easy to exploit. The heart of the book consists of 17 “wealth files,” statements contrasting the thoughts and attitudes of “rich people” with those of “poor people”. Each is accompanied with affirmations and exercises to help the reader internalize changes in thought and attitude.

I suggest borrowing it from the library (like I did) for a fast read. Buy it if you then feel committed enough to work through the exercises.

Tags: Finance, Reading

Updated at: 17 January 2006 12:01 AM