A financial planner loves detail. He loves it when the client provides all the data neatly to him: then the planner does the number crunching and comes up with something called as a financial plan…I am no exception to this.
However, with time, I get a growing realisation that whether or not my client improves his finances & get more systematic and organised has far less to do with me than it has to do with his own belief systems.
What does the financial planner do here? Well yes, a planner can go beyond the numbers with clients and help them understand their relationship with money but I feel that the inner transformational journey has to be done by the client himself, and cannot be pushed on to him. As there is a saying – “you can take the horse to the water but you cannot make him drink”
The “SOMETHING” that holds people back from taking charge
As I am growing in my practice, I come across profiles of clients who show certain defeating patterns, like these examples below:
Client # 1:
He shows a lot of urgency at the initial signing up stage, calls repeatedly on the cellphone, pushes me to get the plan out, and when it comes to implementing the recommendations, just falls flat – he implements NOTHING. Couple of months later, comes back with a good news that his son is born and urgently asks for a recommendation on one or two good SIPs to start with (all my advice of holistic planning etc. is all greek to him)
Client # 2:
This client provides all the data timely, but when I see his profile, I see that he is saddled with debt – he takes a loan for every single major expense, be it his own marriage, or his parent’s medical expenses. He feels more like a martyr who wants to sacrifice himself for his family. The problem is, even if I help him do a cleanup of all his loans, rest assured he will end up with same loans a couple of years down the line..
Client # 3:
An acquaintance who used to call every time for “free advice”. Then one day when I tell him enough is enough, and that my advice is not free and you need to pay for it, he genuinely shows his desire to pay but when I tell him the fees, his reply is “it’s too expensive” – when I tell him that my fees is much smaller than the cost of expensive mistakes you are making on a regular basis from which I can save you, again, it goes over the roof… he is in a messy financial position with debts and all. Now, he does not call, he smses his queryJ
In all these cases, while there is a genuine need to plan and organise, BUT it exists on a surface level only. Down somewhere, there are certain belief systems that keep these people from actually taking action and improve….something holds them back – either they don’t feel worthy for a great financial life or their mental imagery is such that makes them stuck where they are…
Important here to understand what that “something” is…
A book I recently read
I am a sincere believer of the fact that regular reading helps one keep motivated to take on life’s challenges with a positive mindset. In that regard, I recently read a book “Secrets of Millionaire Mind” and its written by T. Harv Eker.
This book basically helps you explore and examine your “inner game” of wealth. The fundamental thought of the books is that whatever is your financial or life situation today is just a result of your inner blueprint. To change the outer results, you need to change that blueprint.
This book is organised into 2 parts.
- Your Money Blueprint
- The Wealth files
In Part I, the author explains how we are conditioned to think and act when it comes to money, and outlines four key strategies for revising our mental money blueprint.
In Part II, the author examines the differences between how rich, middle class and poor people think, and provides seven attitudes (he very nicely calls them “wealth files”) to be taken to make a permanent change in one’s thinking process.
Author’s personal experience
The book starts with an interesting heading – “Who the heck is T. Harv Eker and why should I read his book”.
In that section, the author has explained his personal dilemmas and struggles with money and how he started several businesses and failed and after some serious soul searching, came to a conclusion that he was “AFRAID”, that even if he was successful, he would lose all of it…and that subconscious belief kept on repeating in his outer life.
And later he realised that there is a marked difference between how rich people and poor people think. As a result, he devoted himself on analysing the psychology of money success and how thinking processes can make or break it.
Due to this study, in his later businesses, he committed to his success on winning and stopped thinking short term. Also, he started challenging his mind when negative thoughts came and CHOSE not to entertain negative thoughts. As a result of change in the thinking approach, there was a phenomenal change in the financial results he got.
Some great ideas from this book
Instead of going in detail about the book, I will just list down some of the great ideas and thoughts given in the book:
- If your subconscious money blueprint is not set for “SUCCESS”, just forget it – it’s a law and you can never circumvent it
- It’s a myth to think that the level of technical or business skills determines one’s richness quotient. It does not.
- Human brain is the “inner toolbox” – you can have a whole lot of tools, but if this toolbox is not proper, the tools will not work.
- It is not enough to be at the right place at the right time. You have to be “at the right person at the right place at the right time”
- The key to success is to “raise your energy levels” – when one does that, naturally people get attracted to you. And when you see them, bill them!!
- If you receive big money (e.g. lottery winnings, inheritance etc.) and you don’t have an subconscious capacity to hold that money, it will fritter away.
- Extremely rich people have what the author calls “Millionaire Mind” – they can lose everything and still get it back within a short span of time because the “millionaire mind” is intact (Donald Trump example)
- Author asks – “What is your financial thermostat set for” – is it for zero or a few hundred rupees or crores and crores: THAT will determine your level of financial success, and the law does not failJ
- It is the “root” that creates the fruit” – if you want to change the fruits, re-examine the “roots”. If you want to change the “visible”, first change the “invisible”
- We live in four planes of existence – physical, mental, emotional and spiritual. The physical plane is merely a printout of the other three.
- Declarations are a powerful secret for change. Make positive declarations and they carry their own vibrational frequency.
- Our early childhood experiences determine our financial blueprint to a great extent.
- Our present financial blueprint is similar to files in a computer’s hard drive. Author suggests removing the unwanted files and replacing with a new set of files – the 17 wealth files as spoken in part II of the book.
- If the motivation for making money is anger, hatred or other negative emotion, then the money will not be able to bring any happiness.
- The biggest reason for relationship breakdowns is money – it is less to do with fighting over money than mismatch of the financial blueprint of husband and wife.
- The money blueprint also affects personal life – if as a woman, your blueprint is set at low, not only will you earn less than your capabilities, but will attract a man who earns less too.
- Like the only way to change temperature in the room is to reset the thermostat, only way to permanently change the level of financial success is to reset the financial thermostat.
- To change our blueprint, we need to start being “AWARE” of our thoughts and accept only thoughts that lift us upward.
- Think of yourself like a “magnet”, who is attracting massive amounts of money, good people, relationships and situations towards itself.
- One more reason why people don’t get what they want is because they don’t know what they want – rich people are crystal clear on what they want.
Read the book. It is available on Amazon as well as Flipkart, check out the links given below:
- Amazon – Paperback English – here & Hindi – here
- Amazon – Kindle edition – here
- Flipkart – Paperback English – here (you can also read a sample of book there)
As a bonus, author has created a list of powerful declarations in a printable format. You can download it from the website www.millionairemindbook.com
Hope the post was enjoyable for you. Do share your thoughts in comments section.
Disclaimer: I did not get any affiliate commission/ remuneration for writing this review. If you implement even 10% of the suggestions outlined in this book, it is YOU who will get a life!!