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My Millionaire Mind Intensive Mini Reflections

November 19th, 2008 by Wai Loong (22 Comments)

It has been really busy weeks for me as my time are mostly consumed by my full time profession while weekends were dedicated to attend seminars, as well as to clear up the mess at home.

Two weekends ago, I was sticking around Singapore Expo, attending one of T.Harv Eker‘s Millionaire Mind Intensive seminar – and yes, Harv was here in Singapore!  There were an amazing number of people participating in this event – a whopping 5000++ crowd!

I was with 2 of my friends, whom they were quite irritated by the marketing throughout the entire seminar.  As much as they enjoyed or hated the heavy selling and marketing, I did my very best to listen and pay attention to what Harvey has to share.   Below are some of the key points, which I’ve learned from the 3-days intensive seminar.

  • “Don’t believe a word I say” – T. Harv Eker

Yes!  You’ve read it right!  And Harv is right too!  Very often, folks take information for granted and have fail to exercise independent thinking.  And I must note that too.  Don’t believe a word I write here too.  Do your own thinking and figure out if I make any sense at all.

  • The most dangerous English words are: “I Know That”

How many times do you hear your inner voice saying “Don’t try to teach me that… I already know…”?

In fact, there are so many instances when I caught myself thinking, “I know it”.  Fortunately, I learned over the years how to detect such dis-empowering way of thinking, by constantly opening up my mind and inviting myself to be challenged.  Of course, my ego often gets in the way… and that’s even harder to suppress!

  • Pay yourself 10% first.

It’s so fundamental… I don’t have to explain this right?  Unfortunately, most folks never put this into actions.  The worse of the kind are those who already know it but never put any concrete actions into the doing.

Personally, I have an automatic investment of about 10% of my active income every month.  This simple and fool-proof strategy allows me to average up and down irregardless of market conditions.  After much learning about various forms of investments, I am also starting to set aside an extra 10% every month into my FFA jar (more into this later).

  • Clarity Is Power

I’m constantly unimpressed by folks who says they want more money but they sit there and do nothing!  Some even have the cheek to tell you that it’s too expensive to attend courses or even time to attend free seminars.  Most importantly, they have no idea how much money is enough.  The usual answer is “The More The Better”.

Unfortunately, “The More Money The Better” is not acceptable!

This mode of thinking is obviously a source of scarcity.  Unless one is aware of this truth, there is no power to change since there is no clarity.  Therefore, financial success to many people is never possible, always suffering without even knowing why.

Clarity leads to power, where power empowers you with the ability to act.  By simply knowing absolutely how much is enough and by when, your financial path is all set once clarity is formed.  The rest is finding your way towards that clear goal.  For example, “$120,000 pa residual income in 10 years’ time”.

  • Financial jars – a consistent and proven money management system.
    It forms the basis of your financial success.

For me, the jars are very useful principles that can be easily applied by just about anyone regardless of their income.  I was very inspired by this simple methodology that I started setting aside a PLAY jar.  Here’s how it works:

(Note: The percentages shown are purely suggestive figures.  You are free to adjust them to your needs.)

FFA jar 10% – Financial freedom jar.  You never ever spend this money until you’re financially free.  For investments only.
EDU jar 10% – Pay for your continuous financial education.
LTSS jar 10% – Long term savings for spending jar.  For buying large ticket items.
NEC jars 55% – Necessity.  Used for paying all your bills and living expenses.
PLAY jar 10% – For treating yourself well, you must bust this account every month or quarter.
GIVE jar 5% – Excellent money receivers are also excellent giver.  If you cannot afford $, then give your time.

If you’re married, you’ve got to talk to your spouse to agree on your common distributions.

Again, this is difficult if your spouse is a spender.  Be really honest and open up your communication with your spouse.  Have it agreed upon and set up a separate joint account for each jar.

If you’re just like me who use internet banking exclusively, you may like to open a few separate bank accounts or use an electronic spreadsheet to monitor all your deposits daily.  Either way, I feel that all the jars are very important.  The PLAY jar is something new to me and this is probably one of the biggest take away from the seminar for me.

If you’ve read Harv’s book, this formula is pretty clear:

  1. Income
  2. Savings
  3. Investments
  4. Passive Income
  5. Simplify

If you’re concerned with your financial future, you must be putting in most of your waking time working to increase on one or more of the above.

  • Financial Freedom?
    Formula: Passive Income > Expenses

This is one of the most abused term in the industry. When you hear folks saying they want to be a millionaire, just what  does a millionaire do and think?  The money itself is a result of actions from clear investment and/or business goals.  Even if you make a million and spend it all, you’re nowhere near financial independence!  Your expenses will scale upwards as your income increases.

Hold it there… it appears that the secret formula to financial freedom is to reduce expenses right?

That’s partially right in my opinion…

Most folks do not understand the rule of expense buster.  If you diligently keep track of all your daily expenses (and I mean it!), you’ve already discover how much you need in your necessity jar without shortchanging your survival.

Cutting down expenses is a daily routine you’ll need to be conscious about.  The key is to spend whatever you need based on the value you’re getting out of each item.  The longer the value you can derive out of a product/service without recurring payment, the better.

Of course, not only you’ll need an expense buster, you’ll also need to compound your money (ie. make your money work harder).  That is why I focus my attention to stable and recurring passive income streams through diversifying my investments to various classes of assets.

So what are the common types of passive income the rich invest in?  Personally, I’m not so sure because Harv did not mention all of them in the seminar.  Here is a possible list I’ve came up with:

  1. Scalable and Systematized Business/Franchise
  2. Network Marketing
  3. Stocks/Equities
  4. Commercial Real Estates
  5. Internet/Affiliate Businesses
  6. Royalties from Intellectual Properties (eg. Music, Books, Artwork, Software Licensing etc)

The key is to focus your time building pipelines of passive income, one at a time until all your expenses can be comfortable paid for from these passive sources.  Once that objective is reached, you have achieved financial independence… and you can then decide to choose to work or not, depending on your passions.

  • Grow Your Golden Goose and Never to kill it

This concept is very simple but most folks find it hard to understand, let alone to apply it in real life.

The golden goose is your FFA jar.  Never, never, never, never ever spend it.  The main objective is to grow this fat goose to lay as many golden eggs as possible, have them hatch and allow each golden little geese to create that passive income streams for you.

Essentially, this means allowing the magic of compounding to take effect over a long time frame.

Never allow yourself to kill the goose (spend your FFA jar).  If you desire to pass them on to your dependents, set up a trust for this specific purpose such that they will never ever draw out the money, but allow the money to be re-invested and compounded for as long as your linage survives.

  • Money Is A Result

As with all things, the amount of money you’ve accumulated is a result of your skill to handle (money management) and to grow them (investments).  If you’re broke at this time, you have to accept it that there is a problem with you, not the world… for the world does not owe you a living.

Your physical world is a result of 3 components:

  1. Mental
  2. Emotion
  3. Spiritual

As Harv put it bluntly – “The only way to permanently change your outer world is to first change your inner world”.  Your emotional attachment to money is the ultimate factor that determines your financial results.

Don’t believe me?  Try changing one of your habits (eg. smoking) and you know how difficult it is to do so by your own will power.  Everyone knows that smoking cost you a ton of money here in Singapore.  It can cost even more money when you seek medical treatments, further destroying your relationship with money (and possibly relationships with your family too).

  • Negotiation and Marketing skills.

Probably one of the most important skills that can benefit all areas of your life.

I’m quite interested in Harv’s “Train The Trainer” course.  Unfortunately, I’m already busy with a few matters on hand which will keep me really busy for over a year.  Thus, I can’t get distracted and get de-focused.

Information overloading is the sure-kill formula for failure.  Focus on one thing well first, establish mastery and them move on to learn another skill.

  • Hypnotic therapy and anchoring techniques.

This is a big one.  If you’re familiar with the movie “The Secrets”, then you’ll know what I mean.
Using just mental recollection can cause every cells and muscles in your body to respond as if you’re already positioned in reality (as if you’re involved physically).  During day 2 of the seminar, we got a feel of applying it to relax the mind.  This relaxation allowed our minds to flow freely, while we work along to explore our inner most emotions (fear, greed, guilt etc) through writing exercises and sharing it with our partners in the seminar hall.

In neuro-linguistic programming (NLP) there is a term called anchoring.This is where you take an object and make emotional connections to it.  In the training, we placed our left middle finger and press it against our thumb.  This allows us to associate a reference to that emotion.

  • “Teaching is a spiritual gift, it is the best profession in the world” – Harv Eker

Indeed, teaching is a spiritual gift.  Everyone has his/her own wisdom and it’s really up to individuals to play their parts and make this world a better place.

Unfortunately, Asians especially, are not too open to share their own knowledge, much less their wisdom.  It is probably a survival instincts that have grounded much into our own heritage – the great scarcity of the mind.

And as Harv pointed out, teaching can be very rewarding, both spiritually (not to forget emotionally), and financially.  Do not ever generalize teaching as only those you see in schools.  Teaching can be anywhere, and the best teachers will show you to path to all areas in you… ie business, relationships, finance, career and life in general.  Another take away I’ve gotten from teaching is, “The only way to grow love is to give love unconditionally”.

So the weekend was not all about money.  It’s about giving and receiving just as well, whether it is love, money or anything you consider important to you.

In case you’re wondering how much financial reward one can hope to receive, Harv mentioned something like, “Training is the most profitable profession.  You can earn $20k-$100k per weekend if you’re well trained to capture a large audience”.

And to add on further, he illustrated how possible it is using Network Marketing as an example.  Network marketing is really all about teaching.  It’s a teaching business in its very own rights.  You cannot really sell and build a monster network marketing empire without imparting or teaching others the ins and outs of the business, and of course not forgetting to pass along intimate product knowledge.

When one have mastered the art of teaching, the next best way to reap the rewards is to sell books/seminars or products to a pre-existing (and large) audience base.  If you’re observant enough, you will noticed how successful teachers like Harv (and network marketers) control their audiences.

These expert teachers uses accelerated learning techniques to capture audience attention, as well as getting their audiences to be involved in answering questions and raising their hands, even to the extend of standing up and dancing!  This is effectively managing high energy levels on their audiences.  When audiences are responsive enough, it is really easy to press their hot buttons and command them to buy at will.

Don’t believe me?  Just ask anyone who had attended the MMI seminar and they can relate how the marketers got hot audiences to literally run to the counters to pay up for courses and products (each worth over S$2000++)!  It’s really an eye opener for me and Harv and Success Resources have been making huge profits that weekend!  🙂

  • Finally, Train Yourself To Be An Excellent Receiver

In a world where we all live, bounded by the lawy of duality, it makes sense that in order for one to be an excellent receiver of money, one must also be an excellent giver of money.

  • Friendly Final Hugs

I’ve never forgotten the touching story of Harv how he hated his dad for stealing his jar of coin collections, only to realized that he had been holding this anger for over 30 years.

When his dad returned from a hard day from work, Harv leaped onto his dad and accused him for stealing his coins.  His dad, being totally confused and now knowing why, very tired too, gave his son a hard slap on his face and shouted, “Get the hell out of my face!”.  That was all it took to send little Harv crying in his bedroom pillow, swearing never to talk to his dad ever.

Fast forward 30 over years later, he found out eventually from his dad that it wasn’t meant to happen as he had imagined.

His father, on that faithful evening some 30 years ago, was showing to his neighbors how proud he was with his son for saving up coins in his private jar.  While doing so, he spilled beer over the coins.  So he washed them and dried them using a piece of cloth, putting the coins carefully into a sealed plastic bag which he soon forgotten and went to sleep without putting the dried coins back into the jar.

Harv literally broke down and cried when he finally understood what happened.  Imagine holding that poisonous state of mind (harbouring anger and resentment) for sustained period of time only to discover that the poison itself have killed oneself in doing so!

Holding on to anger and resentment is like drinking poison and expecting someone else to die.
– Unknown

Harv never ever got the guts to say “I love you dad”, even when he knows he might never ever get to see his dad again in a year’s time while he travels all over USA conducting his seminars and workshops.  When he finally got it all straighten out, he drew up his courage, in his dad car while being driven to the airport with his gears in the car boot.  He finally drew up all guts in the risk that his dad will loose control of the car and have them both killed in a car accident.

Harv: “Dad, I have something I’ve always wanted to ask you…”

Dad: “WHAT IS IT ABOUT?!!” almost shouted (as usual).

Harv: (too scared then… but pressed on) “Dad… I’ve always wanted to ask you this… why is it that I’ve never hear you say, ‘I LOVE YOU SON’ ?”

Dad: (Tears rolling down cheeks…) “…”

Harv: (bracing for a motorist accident)

Finally, his dad stopped the car as they’ve reached the airport.  Still tears in his eyes, he didn’t say a word, but rushed to the boot to unload his son’s luggage.  Finally, Harv hugged him and heard him said for the first time in all his life, “I LOVE YOU SON!”.

It was an almost touching scene…

At this point, the seminar audiences (some 5000+ people) where gathered together in a huge circle in the middle of the huge Expo Hall 2, crossed our arms with our neighbors, and started singing a very touching song “The Living Years” by Mike and the Mechanics.  The lyrics was most beautiful and meaningful too!

Here’s a little video clip “The Living Years” I’ve found on YouTube:

Every generation
Blames the one before
And all of their frustrations
Come beating on your door

I know that I’m a prisoner
To all my father held so dear
I know that Im a hostage
To all his hopes and fears
I just wish I could have told him in the living years

Crumpled bits of paper
Filled with imperfect thought
Stilted conversations
Im afraid thats all we’ve got

You say you just don’t see it
He says its perfect sense
You just can’t get agreement
In this present tense
We all talk a different language
Talking in defence

Say it loud, say it clear
You can listen as well as you hear
It’s too late when we die
To admit we don’t see eye to eye

So we open up a quarrel
Between the present and the past
We only sacrifice the future
It’s the bitterness that lasts

So don’t yield to the fortunes
You sometimes see as fate
It may have a new perspective
On a different day
And if you don’t give up, and don’t give in
You may just be o.k.

Say it loud, say it clear
You can listen as well as you hear
It’s too late when we die
To admit we don’t see eye to eye

I wasn’t there that morning
When my father passed away
I didn’t get to tell him
All the things I had to say

I think I caught his spirit
Later that same year
I’m sure I heard his echo
In my baby’s new born tears
I just wish I could have told him in the living years

Say it loud, say it clear
You can listen as well as you hear
It’s too late when we die
To admit we don’t see eye to eye

10 hugs following that…

Of course, the final (Day 3) seminar ended with a grand ending song which I enjoyed pretty much, and was it called “One Moment In Time” by Whitney Houston.

My buddy LR related how he almost forgotten how to hug as he shared with me his past (and unhappy) relationship with his dad.  Of course, it was all sorted out and their relationships have been fantastic now!

Contemplating LR’s story, I have somewhat arrived with a little insight; that we all must have been fools in one way or another, taking for granted upon the people around us that we love.  Somehow, we have all forgotten how to say thank you to each another, or have we all forgotten how to hug our love ones?  At least we can still do so while we are all still alive.

That’s it all for now!

Be blessed and keep your comments rolling in!

Stay hungry, stay foolish, and live a life with passion!

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22 Responses:

Panzer on November 20th, 2008 at 9:49 am

Hi Wai Loong

Thanks for featuring my post through Zemanta!

Be well and prosper.

Wai Loong on November 20th, 2008 at 2:01 pm

Hi Panzer!
Thanks for the kind encouragements! And of course, special thanks to Zenmanta for helping me find your article fast, which is really useful and relevant to what I was writing!

Are you from Singapore too? 🙂

Be Blessed, Prosperous & Good Health!

Panzer on November 20th, 2008 at 8:56 pm

Hi Wai Loong

Yes, I’m Singaporean. Check out my other blog for my citizenship credentials.

2.5 years of full-time NS + 10 years of reservist in-camp training makes for pretty robust citizenship experiences. 🙂

TEA ENG PENG on November 20th, 2008 at 10:29 pm

Hi Bro,

I must say this is the best blog I have read so far. Well done and well summarized! I must say that you are definitely a much better writer than me who can express yourself well and fast enough. If I were to do the same summarized, it would take me at least a week to a month to complete. So can you tell me how long you take to do this?

I like “Don’t believe a word I say” most. That’s why my blog advocate thinking and not providing solution as there is no one plan fits all. One should always evaluate their resources (Both externally and internally) then make an informed decision base on the information collected.

The Jar concept is similar to the “Four Money Baskets” in Adam Khoo’s “Secrets of Self-Made Millionaires” Chapter 15 page 260, which I am also practicing. (Hmmm… ever wonder why all millionaires the same? Don’t you find it fishy or there is actually some truth in it? Hahaha)

As for the types of passive income the rich invest in, you can reference from “Multiple Streams Of Income” written by Robert G Allen. (Another GURU in the arena of creating wealth)

Last but not least, I am putting in most of my waking time working to increase on all the following:

1. Income
2. Savings
3. Investments
4. Passive Income
5. Simplify

In my own words from my blog:

“I spent most of my time thinking of how to achieve Financial Success and still having a balance lifestyle.”

and the thinking is exactly circle around all the above!

Thanks for making it crystal clear for me and I have benefited a lot from your great work! Keep it coming Bro! Await for your even better article!

Wai Loong on November 21st, 2008 at 12:10 am

Hi Panzer! You look awesomely an experienced Singaporean! It’s really great to connect to like fellow minded Singaporeans whom we share our aspirations!
I definitely will look forward to learning a lot from your writing experiences! I noticed also that you must have made a decent passive income from all your blogs. Care to share?

Wai Loong on November 21st, 2008 at 12:26 am

Hello Eng Peng!

Sure is glad to hear from your again! 🙂

Awe… thank you for your kind and encouraging words. I didn’t really did a fantastic job; frankly, I took a little while longer – 10 days exactly to finish it from draft to finishing (with about 15mins of proof-reading).

Indeed, thinking (according to Warren Buffett) is the least enjoyed resource on Wall Street. I believe that applies elsewhere too. I am personally a culprit of this, while being aware of my weaknesses, I am a little cautious these days by contemplating a lot more from what I read and hear.

Thanks for sharing Robert Allen! I’ve heard of him but never gotten to read his book. Maybe I can find a copy in the local library? 🙂

I’m glad that you apply Adam’s concepts well! Personally, I keep track of all my expenses daily using the exact methods Adam teaches for the past 1.5 years. I find money management really easy if one keeps track of them daily compared to doing it monthly. That way, I can better allocate my extra savings at the end of the month.

The “jar” concept took it further by distributing them immediately into 5-6 “jars” after receiving any income. That to me is absolutely clarity, and yet hard to really achieve without discipline and clear account separation.

I’m really honored and blessed to have you as a friend who also share the same simple, yet powerful formula historically adopted by so many financially successful friends across the world:

1. Increase Your Income
2. Increase/Maintain Consistent Savings
3. Increase and Compound All Your Investments
4. Build Non-Correlated Passive Streams of Income
5. Simplify All Areas of Your Life

Be blessed with all the abundances from the universe and have an excellent week ahead! 🙂

Panzer on November 21st, 2008 at 10:47 am

Hi Wai Loong

My blog monetisation efforts have been a 2 year learning process. For quite some time, I used to make as little as USD 0.10 or less per day but now it can vary from USD 1+ to as high as USD 10 a day through AdSense from my various blogs.

There’s also small pocket change coming from other programs from my blog. Hardly enough to quit my day job but enough to pay for broadband and hosting charges plus a little left over for kopi and toast.

You can read more in my “grow your means” posts:

BTW, would you like to do a link exchange? Let me know via this comment.

Be well and prosper. 🙂

Wai Loong on November 24th, 2008 at 11:06 pm

Hello Panzer, sorry for the delay… I was really occupied over the weekend.

Sure, I’m glad to exchange blog links! I’ve previously turned my blog-roll feature off because I didn’t think anyone would like me to link to them on a blog-roll. Let me know which URL you’ll like me to link you to? And thanks for the nice and useful article! 🙂

Panzer on November 25th, 2008 at 9:22 am

Hi Wai Loong

No problem. Could you link to


I’ve linked you already!

Be well and prosper.

Wai Loong on November 25th, 2008 at 4:15 pm

Thanks Panzer! You have a great number of useful links that I find very useful to personal finance. Let me know if it’s alright if my blog-roll is well positioned on the right. It’s the first time I add any blog-roll so I want my preferred link partners to look good on search engines. 🙂

Panzer on November 25th, 2008 at 5:29 pm

Dear Wai Loong

Thanks for adding me to your blogroll.

No worries about the position. Anywhere is fine.

Be well and prosper.

Jason a.k.a swordfinder on December 9th, 2008 at 12:01 am

no problem, wailoong. it’s good to share info among bloggers, i’m reading more SEO guidelines as I go. If I get higher PR, will let u know too.

I have 2 blogs myself and was hoping if u’d like to exchange links with me.

Bleach Sword Replica:

Awesome Movie Sword:

Wai Loong on December 9th, 2008 at 11:52 am

Hi Jason! I’ve looked at your sites and it appears that you are an avid anime art fan!

I’m fine with exchanging links and adding you on my blogroll, but I’m not sure if my blog will add any value to your readers who may be likely to seek out anime pictures/videos instead of life, spiritual, inspirations and financial experiences?

Remember that Google PR rankings are rewarded in both ways with relevant links. So keeping your site’s theme well targeted with relevant inbound and outbound links will benefit you if you’re after a high PR.

Happy Blogging! 🙂

Jason a.k.a swordfinder on December 9th, 2008 at 12:43 pm

No problem Wai Loong. I came across this article, worth checking it out. I also found out another theory – for blogs with PR=0, irrelevant inbound links doesn’t downgrade your site, instead it works the other way around. Only after our PR increased much higher, then the inbould links should be relevant to continue the PR uptrend.

Wai Loong on December 10th, 2008 at 11:57 am

Hi Jason!

Thanks for the great article! The owner obviously knows what he is doing! Indeed, his blog’s Alexa ranking is pretty high, and it was not even ranked yet! 🙂

Though I have no intention to link to a monster list of blogs, I am fine linking mine to friends whom I have communicated personally. I’ve already added yours to by blog-roll. Let me know if they are ok? Your links will appear on all posts on my blog as long as they are displayed on my blog-roll widget.

Let me know if you have any further interesting findings?


Jason a.k.a swordfinder on December 10th, 2008 at 1:36 pm

actually his blog got a PR5 and it’s only 6 months old. thks for the link.
i already linked back to u too.

Jenny R. on December 10th, 2008 at 2:54 pm

I am a new blogger which has given me appreciation of what others do with their blogs. I just wanted to say good work and although our sites are not really related if you want to swap blogrole links I would be interested.

Wai Loong on December 10th, 2008 at 11:23 pm

Hello Jenny! Thanks for your interest! I’m ok and have added you to my blogroll! Let me know if you have problems with the anchor text?

Thanks & happy blogging! 🙂

chris c on December 12th, 2008 at 10:26 am

I am anew blogger and there are some interesting articles on this site. Would anyone know of or has a speadsheet using the “6 jars” principle.

Thank in advance for your help

Wai Loong on December 13th, 2008 at 10:21 pm

LOL! Sorry Chris, I don’t use a spreadsheet to do allocations. I setup my banks to do the necessary internet banking transfers automatically once my active income flows in. Speaking of pay myself first… on autopilot too! 🙂

Leroy on December 15th, 2008 at 10:24 pm

I am one of the 2 irritated friends mentioned in the blog… hahaha..

Harv really applies what he share… raise your energy level, attract others to you, when they come, bill them!

I still find his book extremely useful. Keep sharing bro!


Yen Thim Wai on December 21st, 2008 at 3:04 pm

Hi Wai Loong,

It would be better if you can remove the YouTube imprint after I click on the play button while I am watching “The Living Year” MTV video.


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About Insights, Inspirations, Tranquility, Peace and Harmony

Ng Wai Loong

Wai Loong is an electronics engineer by profession. He currently resides in Singapore, a thriving hub at the heart of South-East Asia. When he is not so stress out on the computers or laboratory, he enjoys value reading, jogging at his own pace and blogging in his spare time. Other times, he likes to catch up with some close friends over a cup of latte or teh tarik. As a gift from this friend, you are invited to interact freely with him on his personal blog.

PS: May the person reading this blog transforms his/her businesses, finances, relationships and life for ALL to WIN!