Jay Abraham Club

It’s 7 am here on a Saturday morning as I prepare to go to the Singapore Expo for the second day of the Millionaire Mind Intensive by Harv Eker. The first day was a long and tiring one. I reached the venue at about 8am for registration. The event started at 9 am and lasted all the way until 11 pm.

The venue was packed with thousands of people not just from Singapore, but also from other countries like China, Malaysia, Hong Kong, Thailand, Indonesia, Japan, Taiwan, Philippines and Australia. There were even a couple of people who came all the way from Europe and South America.

One day before the event, we also received a last minute message informing us to bring along a $100 bill, a blank check and writing materials. We knew the items would be for some activity during the event but one of my friends jokingly said, “A blank cheque? What will they be trying to sell us?” As it is, I didn’t have a $100 bill of my local currency at home, so I bought along a $100 chinese renminbi bill instead.

The day started with an introduction by Harv Eker of what we are to expect from the seminar and some ground rules.

Rule Number 1

Don’t believe a word Harv says.

Rule Number 2

Participate.

Next, we had to complete a money associate exercise and a brief questionaire (72 questions!) to find out some of our beliefs towards money and wealth. As we were to find out later in the afternoon session, some of these beliefs could be sabotaging our efforts to get wealthy.

Harv Eker finished this portion by offering one of his books “Speed Wealth” for sale to us. The book had a value of $25 but we could get it at a discounted price of $12 at the event. It was a small simple book (more of a lead generation piece to me actually) of about 60+ pages.

If we purchased in bulk (from 2-13 books), we could get further discounts. We were told there were going to be limited copies and true enough, the books were snapped up very quickly. My marketing mind told me that this was probably to convey the message of true scarcity to the audience, no doubt to set the stage for other promotions throughout the event later.

Harv’s co-trainer (I forgot his name but he is the lead trainer for the programs done in North America) then took over for the next part of the event. He talked about the concept of financial independence and passive income.

Passive income is the income you get without having to work for it. This can be divided into business passive income, and investment passive income.

Financial freedom simply means your passive income is able to cover all your expenses. Working then becomes an option. To achieve financial freedom, there are actually 5 components:

• Working income
• Savings
• Investments
• Passive income
• Simplify

The co-trainer of Harv was actually $150k in debt when he attended the Millionaire Mind Intensive about 6 years ago. Within 9 months, he had actually become financially free.

In case you were thinking that financial freedom means to become extremely wealthy, that’s not the definition given to us by the trainer. There are rich people (or more correctly, people who seem to be rich in possessions) who are not financially free, and not so wealthy people who are financially free.

Many people do not get wealthy because they do not know how to manage their money. They spend whatever they earn. If their income increases, so does their expenses and these people continue to live from paycheck to paycheck.

The key to getting wealthy is to learn how to manage your money. It doesn’t matter whether you had a dollar or one thousand dollars initially. You do not wait until you get wealthy before you start to learn how to manage your money. It all starts with cultivating that habit and as you start managing your money, your wealth will increase.

We were taught a simple method of dividing our income into a few jars:

• One for our long term investments (This is the golden goose who will lay golden eggs for us).
• One for education
• One for basic necessities
• One for long term savings (for future spendings)
• One for giving away
• One for play

The idea is to keep on building that pool of money for investments. Once you hit a size which can produce an investment income sufficient to meet your expenses, you are financially free. An important point to note is that you live off the golden eggs; at no time should you touch the goose.

This whole idea of money management is something that I have always been practicing. For people who have problems accumulating wealth, I highly recommend that you start using a system like this to improve your financial position.

In the afternoon, we went through the money associate exercise and questionaire which we completed in the morning. There were some interesting examples and insights shared by other attendees.

At night, we did an exercise to find out our attachment to money. Without giving anything away, I have to say it was a very interesting exercise which provoked all kinds of reaction from the audience.

Ok. It’s getting a bit late for me to write anything more. Time for me to go to the Singapore Expo for the event.

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