Millionaire Mind Intensive?

March 13, 2006 4:16 PM

Millionaire Mind Intensive? What are your thoughts/opinions on this "$1300" seminar by T. Harv Eker, author of Secrets of the Millionaire Mind?

I was given a free ticket for this seminar and searched online for writeups of the "Intensive" 3 day course but have only found reviews written by people who are way too positive (employees?) with no real substance to back it up.

http://www.millionairemindintensive.com/ (typical "pitch" website)

I'm not averse to motivational speakers (which is pretty much what I think this guy is) but if it involves chanting/yelling or anything "culty", I'm the first one out the door. I'm wary because the schedule for this particular one is basically 9am-11pm for 3 days - which seems like a ridiculous amount of time to dedicate to something with so little info given.

My main fear is that it will simply be a sales pitch for additional books/courses but if there is something about this course worth taking home, I might be interested.

posted by jeffmik to Work & Money (16 answers total)

Response by poster: The reason for the "$1300" in the question is because one of the first Google results is a Craigslist posting offering free passes to the first 50 people to respond, which makes me question the actual value (and wonder if anyone actually pays retail).
posted by jeffmik at 4:18 PM on March 13, 2006

It looks like the standard drivel. I wouldn't waste my time, but I have no direct experience. However, your question reminded me of the book The Millionaire Next Door, which doesn't tell you how to get rich but describes many common characteristics of the average "millionaire."
posted by mullacc at 4:35 PM on March 13, 2006

Best answer: I went to one of these seminars with a friend of mine. I couldn't stand it and ducked out during the first break because it was just a whole lot of nothing, even if presented in a very upbeat way.

The things that really put me off...

1. You are reminded at every turn about all the other seminars that the firm offers, from flyers laid on your seat to banners to references in their speech.

2. If this is a seminar about increasing wealth, couldn't anybody chuck out some funds for real posters? The room was lined with "motivational signs" hand made with stick on letters. I've seen elementary school teacher produce more professional looking posters than that.

3. Did I mention the constant sales pitch?

When I got home, I checked out their website, and the speech on the site was word for word identical to the one at the seminar. So give it a listen and see if you want more.

My friend, who is a big fan of self-improvement seminars, liked it a lot. So YMMV.
posted by luneray at 4:56 PM on March 13, 2006

Here's my LJ entry that I wrote about my MM experience. Self-link, obviously.
posted by luneray at 5:04 PM on March 13, 2006

There is a huge industry of people who pray on the desires of others to get rich quick. I think for a lot of people that means getting rich by following specific steps that make you money without the need to think creatively. All you ever get is more sales pitches.

I'd be (and I am) very weary of anything that sounds even the least bit 'scammy' and involves the ability to get rich. These companies primarily make their money by being given it by gullible people.
posted by delmoi at 5:08 PM on March 13, 2006

There is nothing special about millionaire's minds, and nothing you can do to make yourself a millionaire if you haven't been given an opportunity to be a millionaire by someone who is themselves a millionaire. Other than that it's dumb luck.

Take the money you would have spent on gas getting to this three-day sales pitch and spend it on lottery tickets. It has a better chance of making you rich, and the money you spend will go to fund public services like schools, rather than making someone else rich.
posted by crabintheocean at 5:11 PM on March 13, 2006

I second the "Millionaire Next Door" and the accompanying "Millionaire Mind" (unrelated I think). I read them about five years ago and they changed my life.
posted by apple scruff at 5:39 PM on March 13, 2006

There's no way it's worth $1300, is my opinion. If you think he's got something interesting to say, buy his book and save yourself $1270 . The only difference between the book and the seminar is that you'll leave the seminar pumped up and ready to go out and invest in real estate or something (this will disappear in approximately 1 day).
posted by Hildago at 5:40 PM on March 13, 2006

Forget the spending money part, in your case. Harumph.
posted by Hildago at 5:49 PM on March 13, 2006

apple scruff: It changed my life too - I no longer wanted to be a millionaire. Why bother being a millionaire if it means you're the kind of person that drives used cars and wears JC Penney suits - it's a hording mentality almost.
posted by mullacc at 5:55 PM on March 13, 2006

Wasn't there a Far Side cartoon of a street vendor selling "How to Become a Millionaire" books for one million each?
posted by ori at 6:20 PM on March 13, 2006

My parents went to one of the seminars when a friend who was attending gave them free tickets. My parents only stayed for a few hours, because it seemed very cult-like. They said most of the people there seemed not very bright or else emotionally vulnerable.
posted by acoutu at 6:27 PM on March 13, 2006

I refuse to attend any get-rich-quick seminars until Tom Vu comes out of retirement.
posted by any major dude at 7:59 PM on March 13, 2006

Response by poster: Thanks all for responding - definitely wasn't figuring on getting rich quick or anything just thought it might be worthwhile to pickup some pointers. I do well for myself but still am always on the lookout for advice and pointers from others.

Luneray! Thank you! That is exactly the info I was looking for, and I know that an event like this would have me running for the doors the moment it started.
posted by jeffmik at 9:13 PM on March 13, 2006

From my work, I know more than a few millionaires.

I'd bet my paycheck that none of them went to this seminar, or any similar seminar.

And I agree with mullacc, what's the point in setting yourself up with money if your goal is to never spend it?
posted by I Love Tacos at 12:55 AM on March 14, 2006

The problem with seminars is that they tend to ignore initial capital formation, and minimize risk.

In other words, if becoming a millionaire requires the following...

(1) Establish a high-paying career

(2) Spend less than you earn

(3) Use your first tranche of savings to form a low-risk, tax-advantage foundation: home, term life insurance, 529s for your kids' college, 401ks and IRAs for retirement

(4) Use you remaining tranche of savings to fund a more-aggressive program of long-term investing, reinvesting gains

(5) Be lucky with step #4.

... seminars focus solely on step # 4.
posted by MattD at 11:47 AM on March 14, 2006