The Resilient Mind - The Millionaire Mindset: How to Think, Act & Achieve Financial Wealth - Jim Rohn

Episode Date: October 2, 2024

Jim Rohn was a renowned motivational speaker who has been widely regarded as one of the best in his field during his time. He had an incredible ability to inspire and motivate people from all walks of life with his speeches and teachings. One of his most notable achievements was serving as a mentor to Tony Robbins, one of the most successful and well-known motivational speakers in the world today.Take action and strengthen your mind with The Resilient Mind Journal. Get your free digital copy today: ⁠⁠⁠⁠Download Now⁠⁠ Hosted on Acast. See acast.com/privacy for more information.

Welcome to the Resilient Mind podcast. In this episode, you will be listening to The Millionaire Mindset with Jim Rohn. Get access to the Resilient Mind Journal by clicking the link in the show notes. Enjoy. When I started making my first list, Mr. Shope said, Mr. Rohn looks like we're going to be together for a while. He said, I've got a suggestion for you. He said, I think one of the first goals you ought to set, you're 25-year-old American male, sure you've made some mistakes, but now you're on the road to better things.

You got a family worth it Reasons makes the difference and he said you've got every reason to do this. He said why don't you among all the goals you're gonna set? Said why don't you set a goal to become a millionaire a millionaire? This is America All the possibilities are available. Why don't you set a goal? To become a millionaire. He said it's got a nice ring to it Millionaire enough zeros to impress your accountant and he said here's why now I thought the The man doesn't need to teach me why. I'm thinking wouldn't it be great to have a million dollars?

He said no, that's not it. Here's why. And I had one of the greatest lessons I ever learned and I'm about to share it with you. This will be worth the price of being here today. If you can capture what I'm about to share with you. Babysitter fees, whatever else you pay. Some of you missed some sales today to be here. So this is a costly day for you.

But what I'm about to share with you changed my whole life. Here's what Mr. Shoeff said. Set a goal to become a millionaire and he said here's why for what it will make of you to achieve it and I got one of the greatest classes in one sentence I've ever received in my life Set a goal that'll make you stretch that far For what it will make of you to achieve it What a brand new reason for setting goals. What an all-encompassing challenge to to have a better vision of the future. What for? To see what it will make of you to achieve it.

And here's why. The greatest value in life is not what you get. The greatest value in life is what you become. Major question to ask on the job is not, what am I getting here? That's not the major question. The major question to ask is, what am I becoming here? It's not what you get that makes you valuable. It's what you become that makes you valuable.

So Shope said, set a goal to become, to become a millionaire for what it will make of you to achieve it. Then he said, when you finally have become a millionaire, now he said, what's important is not the money. I thought, wow, I've got some more to learn. He said, no, no, Mr. And I'm telling you honestly, you could just give the money away. Now, I did better than that, right? I told you. I lost it all.

I'm rich by the time I'm 31. I'm a millionaire. I'm broke by the time I'm 33. So I didn't have to give it all away. I lost it all Foolish mistakes I made that I'm a farm boy from Idaho that early money drove me bonkers I used to say how many colors does it come in? I'll buy them all I just went I went crazy over that first money. I just went crazy and then I made that one foolish mistake right? Continuing guarantee. I mean you know I'm so naive off the farm. I don't know what

continuing means and a few other mistakes and by the time I'm 33 I'm broke now I've made and lost millions since then but what an experience that was and I'm telling you the man was right when I finally was broke at age 33 guess what I discovered my money did not mean that much it represented only a fraction of all my assets show said once you become a millionaire mr. Rohn you could give all the money away because he says what's important is not the money What's important is the person you've become. Now, let me give you the key phrase on setting goals. Set the kind of goals that will make something of you to achieve them.

Set the kind of goals that will make something of you to achieve them. Always keep that in mind. What will this make of me? If I set this goal and go for it, not only will I achieve it, but what will it make of me in the process? What a whole new concept on setting goals. Now there's two parts of this, and then we're wrapping up goals. Here's the first part now on this goal.

setting for what you become. Number one, don't set your goals too low. Interesting we teach in leadership. You'll find it on the cassettes. Don't join an easy crowd. You won't grow. Go where the expectations are high. Go where the demands are high. Go where the pressure is on to perform, to grow, to change, to develop, to read, to study, to develop skills. I belong to a small group. We do business around the world. You cannot believe the expectations at that level. What we perspective each other in terms of excellence far beyond average why So that we can each grow so that we can receive from the group we can contribute to the group Something unprecedented. It's called living at the summit Go where the demands are high go where the expectations are strong so that it'll provoke you push you urgently insist that you not remain the same for the next couple of years the next five years that you'll grow and change So don't set your goals too low.

The guy says well, I don't need much. Well, then you don't need to become much now here's the last part on setting goals Don't compromise. Don't sell out There were some things I went for back in those early years that I paid too big a price for if I'd have known how much it was going to cost me. I never would have paid but I didn't know Don't sell out Ancient phrase says count the cost count cost count cost count cost count cost An ancient story says, Judas got the money. You say, well, that's a success story. No, no. It's true, 30 pieces of silver in those days was a sizable fortune.

You say, well, if a guy's got a fortune, right, that's a success story. No, you don't understand. His name was Judas. Doesn't that ring a bell? Judas. You say, oh, yes, Judas, Judas, the traitor. That's right. The traitor got the money.

Doesn't that change the story? And the answer is, of course, it changes the story. story. Interestingly enough after Judas gets the money from becoming a trader, he's got the money in his hot little hand and now he's unhappy. Somebody says, well, if you had a fortune, how could you be unhappy? Well, he wasn't unhappy with the money. He was unhappy with himself. Key phrase, the greatest source of unhappiness is self-unhappiness. The greatest source of unhappiness doesn't come from outside. The greatest source of unhappiness comes from inside. And here's where the erosion starts, doing a little less than you could. That's where the beginning little infection of unhappiness starts, doing a little less than you can, not feeling that good about yourself.

So don't let that happen. Judas is unhappy. He says, what'll I do? He says, oh, just take the money back. Walked in where he got the money and said, here, take this money. I'm unhappy. They said, heck with you, Judas. We got what we wanted? You got what you wanted out. They threw him out with his money. Jesus says, well, what do I do now? He says, oh, clever. Should have a lot. thought of this first I'll just throw the money away and he proceeded to throw his fortune away why would he throw his fortune away he was so unhappy with himself and that's not even the end of the scenario after he threw his fortune away he

couldn't change what he became a traitor and now in total abject frustration he goes out and hangs his worthless self which all traders should do save the state of money why such a tragic end because he he was so unhappy with himself. He sold out. He sold out. He paid too big a price. Ancient script sums it all up and said, what if you gain the whole world? And it cost you your soul too big a price to pay if you got the whole world. Don't sell out. Don't compromise your values. Don't compromise your virtues. Don't compromise your philosophy. Key. Here's the keyword beware if Judas could speak back he'd probably say beware two good words from

ancient script one behold the positive word behold the possibilities behold the opportunity behold the drama behold the awesomeness behold the uniqueness behold the majesty behold what a good word but here's the other word beware beware beware don't sell out mark well what you come in pursuit of what you want, but I'm inspiring you hopefully to set the kind of goals that will transform your life, make you far better than you are, far stronger than you are. Okay. Isn't this good advice? This is such good stuff. I should have paid to get in, right? Fabulous. What should a child do with a dollar? Let me give you the best advice I've got.

And this is called sort of middle-of-the-road scenario, and I'll show you how these numbers may change, but here's what I teach. Kids never spend more than 70 cents. Now you've got to pick some number. When I met Mr. Schof, I was at about 110%. But remember this, if your outgo exceed your income, your upkeep becomes your downfall. Good little scenario. So here's the number that I found works best in developing a good financial plan. Never spend more than 70 cents out of every dollar from now on. Now kids ask me what? What do you do with the other 30 cents?

Here's my best advice. 10 cents, charity. 10% charity. Supporting worthy projects, helping people who cannot help themselves. Some churches teach tithes, peace, portion. Turning back part of what you take out. Excellent, excellent philosophy. That's what that 10% is.

And nothing teaches children responsibility and character better than generosity. No school, no class, no teacher, can teach character better than the simple act of generosity, 10 cents out of every dollar. Now you can pick your own number. I'm just giving you my best scenario. Now, the time to start this is when the amounts are small. Easy to give a dime out of a dollar. I'm telling you kids will give you 10 cents out of every dollar if it's part of their philosophy.

if you sell them on it. And that's the time to start when it's easy, 10 cents out of a dollar. A little harder to give 100,000 out of a million. Someone says, oh, if I had a million dollars, I'd give 100,000. I'm not that sure. We better start too early when the amounts are small, so it'll all be set in when the big amounts start to come. So 10 cents for charity.

The next 10 cents I call active capital. Capital meaning, meaning try to make a profit yourself. We live in a capitalistic society. Everybody now wants to join capitalism. That's why the walls are coming down. Capital belongs in the hands of the people. That's where the genius is. So the genius is to try to show a profit.

Buy and sell. Render service. Show a profit. Now here's what I teach kids. Profits are better than wages. Wages are okay. But wages help you make a living. help you make a living. Profits help you make a fortune. The key is to just understand philosophically. A little simple economic scenario. And there's all kinds of ways to make a

profit. I'm working on a new book. Here's what it's called. I think it's going to be called. Of course kids should pay taxes. It's going to be an interesting book. In California, where I live, kids do pay taxes. If an eight-year-old walks into 7-Eleven, buy something that cost a dollar, the proprietor makes him cough up seven more pennies. Eight-year-old says, what's these seven pennies? Propriety says that taxes. That's taxes. Kid says, well, I'm only eight. Propriter says, congratulations. You're my youngest taxpayer.

So in California, kids do pay taxes. Now the question is, should they? Now the title of my book is, of course, kids should pay taxes. You got it. Right? The disciple went and caught a fish, found him miracle coins, and paid his taxes and Jesus taxes. So way back then Jesus did pay taxes. Now the question is should he in the answer my little book says of course Jesus and kids should pay taxes of course Of course course if an eight-year-old wants to ride his bicycle on the sidewalk instead of in the mud you have to pay taxes things cost money

Gotta pay taxes aircraft carriers keep tyranny over there instead of over here Aircraft carriers cost money it's expensive to run this whole show We can't use used missiles. I mean, you know, it's expensive to run the whole deal. Of course, everybody has to pay. Now, active capital means try your best to show a profit. Now there's many ways to show a profit, not just money. Touch something, leave it better than you found it. That's a profit. Some profits are intangible. Some profits are tangible. Long before Earth Day, for all sophisticated people, it was very proper when you left your hotel room to turn out the lights. All educated people. Why? Leave a profit. It's so easy to flip the switch and leave a profit. So as well the hotel gets the profit. What do you care?

All you need to become is a person who leaves a profit. I talked to a man who runs a whole string of apartments. He said, guess what? Most people when they rent an apartment. Leave it? What? Trashed worse than they found it. What kind of a reputation with that? be. Whatever you touch turns to trash. Whatever you touch gets dirty. Nothing you touch gets better. See, that's a poor philosophy. No wonder it leads to poverty, small lives. As one writer said, living lives of quiet desperation. This is where it all begins. Failure to leave a profit when you can turn out the lights. Doesn't matter what it is. Become profit-minded. Profits are better than wages because profit has the potential to make a fortune. Wages has the potential to make a living.

So I teach kids take part of your wages. If you earn the money, take part of it for charity and part of it to see if you can't make a profit. And there's all kinds of ways. My book's going to be full of all kinds of ways kids can make money. I teach kids how to have two bicycles, one to ride and one to rent. You know, it doesn't take long to get into business. You don't have to be a genius. Halfway bright, you can start showing a profit. Now here's the next 10 cents called passive capital meaning let somebody else use the capital you provide it your passive they're active and let them pay you interest profits and interest unique way to make a fortune in fact there's a Bible philosophy I teach teenagers this Bible philosophy here's what it teaches the borrower is

servant to the lender wow so where is the power position Not a spender A lender and if I've taught teenagers well if you ask them among some of the things you want to be You know when you grow up you know as years pile on What would you like to be? I'm telling you among some of the things that they would like to be if they've sat in on my classes or gotten some of my material They were say I want to be one of them lenders Powerful position let somebody else use your capital some projects require more capital than any one person has So we've got capital pools

Whether you put it in a financial institution or whatever, right? Earn an interest. Earn a profit, right? Buy a car and sell it for more than you paid for it. Why? Because you leave it better than you found. Touch something and leave a profit. It's not just wrapped up in money in economics.

This helps to teach all other scenarios of life on profit and capital and expenditures, what to do with your time and what to do with your life as well as what to do with your money. Okay? Now this little scenario I call the ideal. Now here's what's important to set up the ideal and work toward it because at first you may not be able to do these numbers some people are in such desperate situation currently they got to go 97 one one and one I mean you know I had to start there

start with pennies and remember it's not the amount that counts Mr. Schof gave me the clear situation here it is it's not the amount that counts It's the plan that counts. When I met Mr. Schof, I'm 25 years old. I said to him, if I had more money, I'd have a better plan. He said, no, Mr. Rohn, if you had a better plan, you'd have more money. Six years? Six years? In America, six years?

Come on. It's not the money. It's not the amount. It's the plan that counts. So set up an ideal plan like this. Now, you can rearrange this and modify it to suit yourself. I'm just giving you here as an example. So set up the ideal.

start making progress toward it. Because finally these numbers are going to change if you move on up into the higher area, right? The people I work with around the world couldn't spend 70 cents out of every dollar would be obscene. That'd be too much. So these numbers are bound to change. I don't know what mine are probably 20% up here. A lot larger numbers down here. Okay. So these numbers are numbers can change. I'm just offering you a good sample philosophy. Remember philosophy is the set of the sale. The economy is not the set of the sale for you. For you, the set of the sale is your own philosophy, your own thinking, your own plan, your own concept. Don't borrow somebody else's plan. Don't borrow somebody else's concept. Don't borrow the concept, you know, spend all you can, cross your fingers and hope for the best. Don't

borrow that. Develop your own philosophy and I'm telling you it'll lead you to unique places. The rest of a lot of this is on the cassette taste, but let me just give you two or three more pieces of the scenario here Then I want to talk about communications and then we're gonna wrap it up. Okay Here's two or three more parts of financial independence number one keep strict accounts This is the best of disciplines keep strict accounts Did you ever hear this expression? I don't know where it all goes Do you ever hear that? I don't know where it all goes. Oh, we'd love to have you run our company

You don't know where it all goes Whoa Did you ever hear this? It just gets away from me It just seems it just gets away from me We'd love to turn the world over you. It just gets away from you Come on you got to have better disciplines and laugh Let that be the 90% Let that be the scenario of the 97%

But don't let it be your scenario don't let it become your philosophy Keep strict accounts Next, a new attitude. I had to develop a new attitude as well as new concepts. Here's what I used to say. I hate to pay my taxes. Shof said, well, that's one way to live. I thought, well, doesn't everybody hate to pay their taxes?

He said, no. No, a few of us have gotten way past that. He says, once you understand what taxes are, here's what taxes are. in our governmental system in our society. Taxes is how you care and feed the goose that lays the golden eggs. Democracy and liberty and freedom, free enterprise. Wouldn't you want to feed the goose that lays the golden eggs?

Somebody says, well, the goose eats too much. That's probably true. I understand that. Of course that's true. But see, better a fat goose than no goose. And here's the truth be known. We all eat. much. Let not one appetite accuse another. Of course the government needs to go on a diet.

So do most of us. But hey, you still have to care and feed the goose that lays the golden eggs. Once you understand that that's what it's for. See, it is so important the right attitude. Here's what I used to say. I hate to pay my bills. You open up the mails, nothing but these window envelopes. Bill. I hate to pay my bills. Shelf said, well, that's one way to live. I said, well, doesn't everybody? He hate to pay their bills. He said, no, some of us are way beyond that. I said, is it possible to love to pay your bills? He said, yes.

Reduce your liabilities, increase your assets. Wouldn't you love to do that? So start a whole new attitude here. Next time you pay $100 on an account, put a little note in there and say, with great delight, I send you this $100. I mean, they don't get many letters like that. Reduce my liabilities, increase my assets. My picture's changing, my picture's improving.

I love to pay my bills. Keep the money in circulation. Pay my taxes, feed the goose that lays the golden eggs. It's a matter of attitude. And here's the last on attitude. Everybody must pay. Of course, life is called opportunity, but life is called price, but we must all pay.

We must all share. One of the classic stories of all time from ancient Bible script says. Jesus one day and his disciples were standing by the church treasury, synagogue treasury, watching people as they came by and put their offering in the treasury. That wouldn't be a bad idea. Jesus and his disciples standing by the treasurer while everybody walks by. Jesus said, how much was that? How much was that? Interesting. And the story said some people came by put in big amounts. Some people came by put in modest amounts, average amounts.

And the story says, then a little lady comes. buy and puts in two pennies in the treasury. Jesus says to his disciples, look at that. Look at that. His disciples said two pennies, two pennies, what's two pennies? Jesus said, no, you don't understand. She gave more than everybody else. They said two pennies is more than everybody else. He said yes, because I'm certain that her two pennies represented most of what she had. And if you give most of what you have, then you've given the most. What a lesson to learn. It's not the amount. It's what it represents of your life that counts. Now let me give you the wisdom of the scenario that did not occur. And this is the greatest of wisdom.

And in my own particular peculiar brilliance, I have the ability to record for you what was not recorded in the scenario of the story. Here's what did not occur, which may teach us one of the greatest of the wise things that was taught in this scenario. Here's what did not occur in the scenario. Jesus did not reach into the treasury and get this little lady's two pennies and run after her and say, here, little lady, my disciples and I have decided that you're so pitiful and you're so poor that we've decided to give you back your two pennies. I'm telling you, that did not occur. If it would have occurred, she would have been what?

insulted. She would have rightfully said, I know my two pennies aren't much, but it represented most of what I had. And would you insult me by not letting me contribute what I wanted to contribute even if it's only two pennies? I'm telling you that did not occur. Here's part of the wisdom of the story that was not recorded. Jesus left her pennies in the treasury, meaning everybody has to pay, even if it's only, And whether you start with pennies or whether you start with dollars or whether you start with nothing Remember part of the scenario is to spend of course part of the scenario is to invest and part of the scenario is to show a profit and part of the scenario is to help take care of people who can't take care of themselves if you'll set up your own philosophy I'm not asking you to buy my philosophy I'm not asking you to adopt my numbers I'm only wanting to provoke you to think for you to come up with a splendid economic philosophy that's got you up early and got you up late, has got you thinking and pondering ways to use your resources and

turn it into the dreams you want for the future. And that's my little story on financial independence. Thank you for tuning in. Continue strengthening your mind by listening to our other episodes.