Master Wealth with These Nine Practical Steps from Think and Grow Rich

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Poverty and riches often change places. Poverty may and generally does voluntarily take the place of riches. When riches take the place of poverty, the change is usually brought about through well-conceived and carefully executed plans. Poverty needs no plan. It requires no one to aid it because it is bold and ruthless. Riches are shy. They must be attracted — Napoleon Hill.

This strong statement prompted me to write this book note. Let’s unpack it and the book’s other powerful principles.

Herein, I will share simple steps to help you acquire wealth and enjoy your life.

But first, some background.

I have been reading a book that leaves an impression every time I set myself to read it. It shares great principles that resonate with me a lot. The principles help me know myself more, appreciate the power and freedom in my life, and challenge me to be a better person. Although it largely teaches how to accumulate monetary wealth, the ten or so principles described in the book can be applied in any aspect of life.

I had committed to myself to write this book note once I finished reading it. However, I just finished a chapter — The Power of a Mastermind — and I felt compelled to write it now.

Photo by Praveen Thirumurugan on Unsplash

I just learned that every self-made successful person associates with like-minded individuals. The lesson affirmed my belief that we should be careful about who we associate with because we often unconsciously emulate them. Our minds become spiritually bound together.

Anybody can wish for riches, and most people do, but only a few know that a definite PLAN, plus a burning DESIRE for wealth, are the only dependable means of accumulating wealth — Napoleon Hill.

That is where the principles drawn from the book come in. If you read them carefully, you will realize that most of us fail at practicing most (if not all) of them. You will also learn how to apply them in your life and be different.

Photo of the book Think & Grow Rich taken by the author

Penned by Napoleon Hill, Think and Grow Rich remains a timeless book with rich secrets on how to accumulate and retain riches.

He boldly states that by learning from the great men in history and persistently applying the basic principles, anyone, regardless of their current situation (poverty, disease, ignorance, or illiteracy), can achieve anything they want in life.

Key Takeaways from Think & Grow Rich

In this section, I will share the most practical techniques described in the book on how to accumulate money ( and succeed in any aspect of life) and riches and retain them for a fulfilling and satisfying life.

Here is a summary of the basic techniques taught in the book:

• Definite Purpose: Have a clear statement of your goal and a timeline for achieving it.
• Burning Desire and Faith: Back your purpose with a burning desire and strong faith in yourself. Hill writes, “No one is ever ready for a thing until he believes he can acquire it.”
• Auto-Suggestion: Feed positive thoughts into your subconscious mind, which will eventually manifest in physical form.
• Specialized Knowledge: Consistently seek knowledge through various resources relevant to your goals.
• Mind Power: Understand that man’s only limitation lies in his mind. Controlling your mind changes your life.
• Actionable Plan: Create a realistic and actionable plan to achieve your definite purpose.
• Prompt Decision-Making: Make decisions promptly and change them slowly.
• Persistence: Remain persistent in executing your plans.

Keep a closed mouth, open eyes and ears — Napoleon Hill.

I highly recommend you read the book yourself.

Read, think, and meditate as you go through the book.

In a nutshell, the most practical way to acquire riches is to have a definite purpose to achieve something, backed by a burning desire, faith, and specialized knowledge and acted upon by definite decision-making and persistent plan execution.

This is the first book note in my brand new series, Book Wisdom in a Bite, where I will share my honest experience with the books I read and recommend them based on the key takeaways. I hope you enjoy the series as you grow your well of knowledge in personal finance, development and life philosophy.

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Also, check out FREE, personalized self-improvement resources HERE.

Thank you for reading.

[Ps: don’t forget to highlight and leave a comment on your thoughts about the Think and Grow Rich book.]