Book Review: The One Minute Millionaire by Mark Victor Hansen and Robert G. Allen.
I just finished reading The One Minute Millionaire – the Enlightened Way to Wealth by Mark Victor Hansen & Robert G. Allen. I was loaned the book by a good friend of mine and I let it sit around on my nightstand for way too long before reading it. I’ve often said that how you think about your situation can make the difference between success and failure. The One Minute Millionaire echoes that thought and takes it to a whole new level by introducing an entire system for changing your thoughts and beliefs about money and building wealth. One of the unique things about the book is that it’s actually two books in one. The authors took the time to write the knowledge portion of the book in a “normal” self-help book format. Then they applied the same concepts in a fiction novel based on real-life scenarios. So by having two books in one, The One Minute Millionaire appeals to people of varied reading styles and preferences.
A few key thoughts I liked about the book:
- You are responsible for your own success. Nobody is going to give it to you. You can be wildly successful or a complete failure, but it starts with realizing that it’s your responsibility and knowing where and how to build a successful team to help you reach your goals.
- Givers gain. Those who make giving back a priority in everything they do are more successful and more fulfilled in everything they do.
- You need mentors in your life, and you never know where you will find your next mentor. It could be a homeless person on the street or it could be a very wealthy person. Either way, you have to be looking for them and ready to learn from them.
- Don’t bet everything on one horse. You may have one good idea or skill that generates income, but it also might not generate income. Having multiple revenue streams helps provide income when some ideas aren’t doing so well.
One thing I didn’t like about the book:
- There’s a lot of talk about buying real estate with no money down and how to get creative financing. I know this is Robert Allen’s background and how he made tons of money, so I understood when I picked up the book that it would have some of this in there. But as a financial coach who teaches how to live debt free, I have to put that warning in there. I actually skipped over most of the part that laid out invest in real estate with borrowed money. There are some good points to take in throughout that section but I strongly recommend not borrowing money at any time, especially for investment purposes.
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