Financial Affluence Podcast
Episode #005– Unlocking Wealth with the Millionaire Mindset – The Millionaire Mindset by Gerry Robert
On this episode of the Financial Affluence Podcast, we dive into the powerful concepts from The Millionaire Mindset by Gerry Robert. We’ll explore how adopting a millionaire mindset, implementing personal financial management systems, and creating multiple income streams can transform your financial life. This episode also discusses the importance of personal development, Masterminding, and building trust and authority in business.
If you'd like to get your own copy of The Millionaire Mindset, click the link here: Millionaire Mindset: How Ordinary People Can Create Extraordinary Income
#FinancialFreedom, #WealthBuilding, #MoneyMatters, #InvestmentStrategy, #FinancialLiteracy, #PassiveIncome, #WealthCreation, #SuccessMindset, #RichMindset, #FinancialPlanning,
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- Broadcast on:
- 21 Sep 2024
- Audio Format:
- other
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Financial affluence podcast, listen your way to riches. Welcome back to The Deep Dive, everyone. This time, we're really diving deep into this idea of a millionaire mindset. Yeah, and it's a fascinating topic, right? Yeah. And we're not just talking about money-making strategies here. It's really about understanding the underlying beliefs, the mindset that shapes how we interact with wealth. So get ready to unpack some pretty powerful concepts, and maybe even more importantly, that reflect on your own beliefs about money. Absolutely. And we've got some great excerpts from this book all about it. It's got some real thought-provoking stuff in here. So it jumps right into this idea of magic thinking, and how it's like this key to success. And you might be thinking like magic thinking. Sounds a little, you know- A little out there? A little far-fetched, yeah. But then the author hits you with this story. It's about this guy, Bob Proctor. Okay. And Bob Proctor was a fireman. And then within a year, he becomes a millionaire entrepreneur. Wow. Yeah. Just like that. And it's about him after he learned about this concept called the stick person. Okay. The stick person. So this is a really interesting way to visualize how your conscious and subconscious minds actually work together. Okay. So imagine like a stick figure, you know, just a simple stick figure. That's your conscious mind. That's the one, you know, kind of make the decisions call in the shots. But behind that stick figure, right, there's this much larger figure, and that's your subconscious mind. Oh, I say. That's the crew. Everyone's carrying out the orders, whether you're consciously aware of it or not. Right. Right. And the book argues that this applies directly to, you know, how we build wealth. Interesting. What you consistently think about what you believe is what you're going to attract into your life. So it's like, if I'm walking around thinking, I'll never be financially secure. Exactly. My subconscious is back there. Like, okay, we're on it. Yeah. Your subconscious doesn't judge. It just acts. So if your thoughts are rooted in scarcity, fear, lack, guess what? That becomes your reality. Exactly. Yeah. And that is where this whole idea of poverty consciousness comes into play. And this is where the book, I think, gets really interesting because it starts to like, it really dives headfirst into all those limiting beliefs about money that we kind of pick up, you know, just through life. Like we hear these things growing up. Money is the root of all evil. Rich people are unhappy. You know, all these. It's true. We hear those all the time, don't we? Yeah. And they just, they worm their way in. We do. And we start to, instead of recognizing them as just beliefs, we start to accept them as truths. Right. Right. Like they're facts. Yeah. So we've, we've identified these limiting beliefs, right? But how do we actually like break free from them? That's the real question. That's the million dollar question. Right. And the book actually offers this, this really, I thought, powerful three step method for tackling them. Okay. So ridicule, oppose and replace. I like it. So tell me more about that. So it's really about instead of just trying to suppress these negative thoughts we have, it's about actively like dismantling them. Yeah. Dismantling them and then replacing them with ones that are actually going to work for us. Right. So you start by ridiculing the belief, right? Then you oppose it with logic. And then finally, you replace it with something positive. Exactly. So let's say, like I'm, you know, I'm thinking to myself, I'll never be able to afford that, you know, that dream vacation. Yeah. How, how would I, how would I use ridicule, oppose, replace in that situation? Well, you could start by just, you know, injecting a little humor. Yeah. Right. Okay. Ridiculate be like, yeah, and I'll probably never win the lottery either while, you know, eating caviar on my private jet. Right. Right. And then you oppose it with some logic, you remind yourself, you know what, it's not about affording it right this second. It's about creating a plan, exploring options, you know, working towards it. And then finally, you replace that negative thought with a positive affirmation. Like I am capable and resourceful. I am open to opportunities that will help me achieve my dream vacation. I love that. It's like taking those old beliefs out and just. Closs them out. Yeah. Like spring cleaning. Exactly. Exactly. So stop at mindset. Right. It goes a step further. Right. Because it's great to have like a positive mindset and everything, but you got to do something. You got to take action. You got to actually do something with it. Yes. So what does the book suggest? Well, it has all these like, it has a bunch of different strategies. One that really resonated with me was this idea of a money mastery filing system. Okay. Money mastery filing system sounds kind of intense. It sounds very official, but it's actually really simple. It's this idea that every dollar has a purpose before you even earn it. Okay. I like that. So you're not just spending randomly, you're allocating funds to different areas of your life intentionally. So it's about really having control over your money and making it work for you, not against you. Exactly. Yeah. Very cool. And then there's these, it also has these 10 time magic questions. Okay. And I love these because they really make you think about how you're actually spending your time. That is so important. I mean, time is our most valuable asset, right? It's more valuable than money. It really is. And, you know, are you using it in a way that actually aligns with your goals and your values? Yeah. Are you using it intentionally, right? Right. Or is it just kind of slipping away? Right. Right. On distractions and things that really don't matter. Exactly. And the book argues that, you know, if you don't control your time, it will control you. 100%. And I know that's true for me. Yeah. Let's see, it also has this, um, this priority scale that I thought was really, really helpful. Priority scale. Yeah. For like ranking tasks, which if you're someone who, you know, feels overwhelmed by their to-do list, this is, this is great because it helps you focus on the tasks that will actually have the biggest impact. Not just the little things that feel good to check off, right? Right. Exactly. It's about working smarter, not harder. Exactly. Love it. No conversation about building wealth would be complete without talking about multiple streams of income. Right. It's not just about, you know, you're nine to five. It's about some. Exactly. And I love how this book, it really encourages you to, like, think outside the box when it comes to generating income. Be creative. Yeah. I love that. Like what are some of the possibilities that maybe you haven't even considered? Yeah, for sure. Because, you know, it argues that true financial security, it comes from diversification, right? Of course. You're creating this, like, safety net of income streams. Right. Right. And it's empowering, too. It is empowering. And it even offers this, like, six-step plan for finding over 200 potential prospects. Wow. Yeah. That's a lot. It is. And this book is really about, like, shifting your perspective. You know, it's not just about how can I get a raise. It's, how can I create multiple sources of income? So I can actually, like, you know, design a life that I love. Yes. That's a big difference. I will say, you know, the book acknowledges that it's not always, it's not always going to be easy. Right. Like building wealth, whether it's through a side hustle or starting a business or just, you know, managing your money more effectively, it comes with challenges. There will be setbacks. There will be setbacks. Yeah. For sure. Times when you just want to give up. Oh, yeah. I've been there. Right. Many times. But that's why it really emphasizes this importance of persistence, of not giving up. Right. Because challenges are temporary. Exactly. Obstacles are detours, not dead ends. Oh, yeah. Yeah. Like that. Yeah. And it's got all these stories of, you know, people who faced, like, incredible odds and they overcame them. Think about Thomas Edison. How many thousands of times did he try to create the lightbulb? So many failures, but he didn't see them as failures, did he? Exactly. He saw them as stepping stones. It's about, like, how are you framing it in your mind? Exactly. And speaking of, you know, support systems, there's one more strategy from the book that I wanted to touch on, and it's this idea of master minding. Oh, master minding. Yeah. It's such a cool concept. It is. So tell me more about how they talk about it in the book. It's about harnessing that collective wisdom, right? Yeah. And the support of, like, other like-minded people. Yeah. Who are all striving for, you know, similar goals, accountability buddies. Exactly. Right. And he talks about how he used master mind groups to generate ideas, to overcome obstacles- Sure. --to stay motivated. Yeah. I mean, it's like having this built-in team of, like, cheerleaders and advisors. Totally. And he lays out this really clear framework for how to actually create an effective master mind group. Okay. Yeah. I'd love to hear about that. So it starts with having a clear objective. Okay. So you know what you're working towards. Yeah. And then establishing, like, a supportive, non-judgmental environment, because, you know- Yeah. You've got to feel safe to, like, share your ideas even if they're half-baked. Exactly. You want to feel judged. Right. And then from there, you can brainstorm solutions together. Right. And hold each other accountable for taking action. Oh, that accountability part is huge. It is. It's everything. Because it's one thing to, like, have the ideas, but- You get to act on them. Or they're meaningless. Exactly. It's synergy that, you know, we can achieve so much more together than we ever could alone. A hundred percent. Yeah. So we've got the mindset strategies, the actionable steps, the support system, and this, like, unwavering belief in the power of persistence. It all comes down to that belief, doesn't it? Like, cultivating that mindset of abundance? Yes. Believing there's enough for everyone. Yeah. Enough success, enough resources. And opportunities. Exactly. Yeah. And it's not just about, you know, money, right? It's about applying that to your relationships, your health, your- It's a life philosophy. Yeah. It's about stepping into your power, believing that you can create the life that you want. Absolutely. And speaking of creating the life you want, the book ends with this really powerful story. Okay. It's about this father who's grieving. He's lost his son. Oh, wow. And he says this thing, he says, "When we lose one of our youngens, we hang our dreams in the closet." Oh, that's- It's heartbreaking. It is. But it's this idea that, you know, when we experience loss- Right. Or grief or fear or self-doubt, it's so easy to let those things kind of stop us from going after what we really want. Yeah. We put those dreams on hold. We do. We put them in the back of the closet and we forget about them. But here's the really interesting part of the story. So the father says this and the younger brother. He refuses to hang his dreams in the closet. Wow. And he's going to honor his brother's memory by actually going after his passions even harder. That's amazing. And he ends up achieving this incredible level of success. You know, a level that maybe even his brother might have thought was impossible. It's a testament to the idea that, you know, we have a choice. We always have a choice. We can let these challenges define us or we can rise above. And sometimes rising above is the best way to honor the people that we've lost by, you know, truly living our lives to the fullest. It's so powerful, yeah. So as we kind of wrap up our deep dive into this whole millionaire mindset, right, here's a final thought provoking question for you. What dreams have you maybe tucked away? Oh, good question. What would it take to dust those off and start going after them with everything we've talked about today? Yeah. The strategies, the mindset shifts. Yeah. That's all the time we have for today's deep dive everyone. Great conversation. It was until next time. [MUSIC PLAYING] Owning a rental property sounds like a dream until you realize how much work goes into getting it ready. Determine a competitive rent price, market the property, schedule the showing screen tenants, drop it at the lease at a rent collection, handle maintenance request, maintain communication. Whew. 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