Aug 1 2010

Book Review: The Instant Millionaire

Mark Fisher is a self-made millionaire who shares a timeless story in his book The Instant Millionaire. This is not your typical book filled with tips on budgeting, saving hacks, and investing principles.

The tale covers a brief period of a young man’s life when he’s had enough of his dead-end job and decides to pay a visit to an old man known as the Instant Millionaire. The millionaire has an agenda from the start and uses a combination of ploys and conversations to teach his visitor the lessons he learned that made him a millionaire.

The lessons that I liked in The Instant Millionaire were:

  • Goals are self-fulfilling prophecies, not objectives. Setting concrete goals to reach a seven figure net worth is the first key step to becoming a millionaire. Without a destination, we don’t know what path we should take and eventually end up going nowhere. Repetitive acknowledgement of the future has the magic of making it a reality.
  • Words can be powerful. Not only do we have to set goals, we must write them down and say to ourselves that we achieve what we set out to accomplish. How much we believe in those words is crucial in how likely those words are to come true. So, the people who talk themselves in the mirror may not be crazy – but utilizing the power of words.
  • Love thy work. The old millionaire in the story tells the young man that many millionaires continue working despite having amassed enough wealth to live for a long time. This is because they genuinely enjoy what they do and want to continue doing it regardless of how much money they have.

Great Start, Slow Ending
Throughout the first half of the book, the story progresses quite intriguingly with a slight vibe of mystery. At first, the encounter between the millionaire and the young man are thought-provoking and challenges our logical reasoning. By the latter half of the book, the teachings of the millionaire become spiritual in nature and they confer in elements of deeper meaning.

The transition from deliberate mind tricks to prolonged blabber disappointed me as I was hoping for more of the deceptive lessons to becoming a millionaire. But, Fisher finishes the story with a very surreal ending that left me spellbound.

Nevertheless, I loved how Fisher used a narrative story to his points across, which was a refreshing approach compared to the other books out there that are basically guides in personal finance. He probably had to do so since a motivational how-to guide to wealth would be quite dull and boring otherwise.

Overview
The Instant Millionaire is a quick two-hour read that motivates readers to chase what they want while enjoying the whole process. The title of the book may be deceiving since we’d expect the same old content voiced in all the other book titles with “millionaire” in it. Instead, it belongs in the self-development and motivational category with a tale that propels us into a mindset of a millionaire.

The book isn’t literally saying that one can become a millionaire with the blink of an eye but we can become a millionaire mentally. The Instant Millionaire delivers a philosophical approach that makes it a book that can be reread to stay focused on the goal of becoming a millionaire – which is probably a goal for most people.

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