The Eventual Millionaire

"I needed to be the hero of my own story. If I didn’t lead a life that mattered, it was by my own choice, not because of circumstances I couldn’t control."

- The Eventual Millionaire, page 18

Do you rendezvous with millionaires often? Yea, I didn’t think so.

Jaime Tardy, author of The Eventual Millionaire, decided to not only befriend hundreds of millionaires but also pick their brains via her weekly podcast. The interviews turned into a book and the book turned into this summary. Bam.

So let’s talk about the money, money, money.

Since she was a little girl Jaime knew she wanted to be a millionaire, but by the time she was 22 years old she found herself burdened with $70,000 of debt, along with a house, pool, 2 new cars, and oodles of other material possessions. Jaime knew she had to make a drastic change and eliminate all debt before she could focus on building a new career and lifestyle and earning her first million.

Elevating her game would require focus along with the insight from and support of other savvy thought leaders. But enough about Jaime. What about you? Are you ready to elevate your game and make a million? Cha-ching.

 

The Golden Egg

Golden Egg: The biggest takeaway from the book

Make Money Money, Make Money Money

"After you become a millionaire, you can give all of your money away because what’s important is not the million dollars; what’s important is the person you have become in the process of becoming a millionaire."
- Jim Rohn, as quoted in The Eventual Millionaire, page 5

Want a million bucks in your bank account? Duh.  

Don’t let the 6 zeros intimidate you. Many of the millionaires featured in The Eventual Millionaire started from scratch and refused to let obstacles stand in their way. Kane Minkus went from being a homeless musician to a multimillion-dollar business coach. And Lewis Howes went from being an injured professional football player without a college degree (and sleeping on his sister’s couch) to running a million-dollar online business.

How did they do it? And more importantly, how can you do it?

Numero uno: If you want a million bucks, don’t be an ass donkey. And don’t be afraid to ask for help. Patience, vulnerability, and accountability are vital to gaining your bootay.

Gem #1

An actionable way to implement the BIG takeaway (Golden Egg) into your life

Don’t Be a Donkey

"There’s a parable of a donkey that is exactly equi-distant between two buckets of water; one is 30 feet to the left, one is 30 feet to the right. He keeps looking left, looking right, keeps looking at both buckets, can’t decide because they both look equally appealing and eventually he falls over and dies of thirst."
- The Eventual Millionaire, page 78

Are we that different from the ass in this parable? We want to “do it all” and we want it all right now. How about we commit to honoring the donkey and not making the unfortunate mistake he made?

Here’s how we avoid dehydration.

One. Give yourself permission to want and seek a dozen different career paths. The days of working in one job for 40 years are over. That’s right – you can be a teacher, chef, consultant, zookeeper, public speaker and novelist in one lifetime if that is what your inner-donkey desires.

After all, ninety-one percent of Millennials expect to stay in a job for less than three years, according to the Future Workplace “Multiple Generations @ Work” survey. That translates to 15 – 20 jobs over the course of their working lives!

Number Two. This is an important one: Create your life plan. Jaime Tardy recommends you:

1.) Grab a piece of paper,

2.) Draw a line in the middle,

3.) Write your age at the far left,

4.) Write five-year increments, and

5.) Place one idea in each section.

It turns out you DO have time to wear all the hats you’d like to during your lifetime. Assuming you don’t get hit by a car tomorrow. And don’t forget the most important part…

Number Three. Be patient. The tiniest steps forward make the biggest difference. Use millionaire Brig Hart as an example: “I discipline myself to do those things that cause progressive growth every day mentally, physically, and financially. I’d work out every day. I’d read a little bit every day. I’d encourage myself every day. I made contacts. I did my little bit every day.” He says, “Input equals output.”

Input equals output, indeed.

Gem #2

An actionable way to implement the BIG takeaway (Golden Egg) into your life

Start a Mastermind Group

"Make sure to invite people to the group who you think are much more successful than you."
- The Eventual Millionaire, page 108

Whatever you do, make sure you’re not the smartest person in your mastermind group. If you want to achieve your goals, you need the accountability, support, resources and best practices from A-list thought leaders.

I used to think mastermind groups were just a fad. Sure, you can pay a lot of money to meet weekly with other entrepreneurs but what would come out of it? Lots of chest pounding, right? Wrong.

Apparently, I’ve been the ass.  The majority of millionaires Jaime Tardy has interviewed have claimed their success was in large part due to their mastermind groups. Noted.

The good news? You can create a mastermind group too, even if you don’t have the money to join a fancy schmancy one.

Here’s a step-by-step guide to starting a mastermind group:

  1. Find potential members. List 10 people in your extended network who you don’t know yet but would be ideal for your group. Reach out until 4-8 people commit to your group, depending on the group size you prefer.
  2. Establish Mastermind Guidelines for the group. This could include anything from establishing the meeting time and length each week to the goals of the group. An example from the book: “The mastermind is not just for advice, but it also becomes a positive place where you can manifest your goals with a group.”
  3. Create a Mastermind Agenda. Here’s an example from the book:

12:00pm Welcome
12:05pm Sharing a “win” from the previous week
12:20pm Hot Seat – one member. What are you working on? What’s working for you? With what do you need help?
12:40pm Last questions. Who can help (member) with their problem?
12:50pm Resource
12:55pm State your goal for the next week
1:00pm End

Of course there are a ton of variables that feed into whether or not you can achieve million-dollar status. And maybe you don’t event want millions of dollars (good for you!). Regardless, this book reminded me that there are people – not that different from you or me – that are setting the bar high and reaching their goals. It is possible.

What is holding you back from making your first million?

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Kira Hug

ABOUT Kira Hug

Kira resides in Brooklyn, NY with her husband and toddlers.
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