8 Secrets of the Truly Rich by Bo Sanchez: A Book Review 

Every Filipino must read this.

Very inspirational. To those who wants to achieve financial freedom in a godly way,this book is a must-read.

Good suggestions on how to save money in other ways instead of putting it in a bank.

This is a great book!!! It tells us that COMMITMENT to be RICH MATERIALLY is GOD's WISH for all of us. We are, after all, GOD's Stewards. Live in abundance and share the blessings! 

Secret #1: Be Totally Responsible for Your Success 

In this section, the author himself is revealing the answers for our our very failures and of our poverty, also giving us the hints how can solve those problems with all understanding and confidence. The author exclaims and believes that every one of us has more power than we think we have. That the main reason of our status in life is just the result of how we maneuver our own lives. He strongly express that we should stop this habit of blaming everything around us like blaming our own government, the family that raised us, the Devil, and even God why we are still experiencing extreme poverty. He adds that we should manage our lives with utmost responsibility and accountability. He means that we are in control of our lives and that if we don’t like our current situation, we have the ability to change it and if it is not possible for us to change the situation, we should change our attitude towards it. He says that we have all the freedom of how we took care of our lives, it’s really up to us whether we want to change our standard of living to prosperity or the other way around. The author gives us principles for us to be reminded, here as follows: (1) blame robs our power for us to determine our lives; (2) we should not wait for prosperity from the government. If we want prosperity, we should not mainly rely on them and create it ourselves. Only we— and God who works in us — cancreate the wealth we want, (3) if we want to get out of poverty, nothing can stop us. Not our corrupt government or even our family lineage(4) it’s easier to blame the devil than to acknowledge our responsibility to change our lives, (4) the chances of winning the lotto is equal to the likelihood of being hit by lightning twice at the same spot, (5) we become what we repeatedly do. We become poor because we have the poor man’s money habits. With those things, we are now given the chance to create our new pattern of success. 

Secret #2: Enlarge Your Psychological Wallet

In this second secret for one to be truly rich, the author reveals here that there is a secret psychology to money, and that most people doesn’t know about it resulting why most people never become financially successful. The first giant reason why people are poor because we do not want to be rich. According to him, subconsciously, we don’t think it fits us and we feel it’s not who we are. The remedies he provides are by facing our feelings, increasing our money ‘comfort zone’, by changing our perception through faith by turning our imaginations to reality, by seeing our own self which would attract our level of success, by sticking to our main goal that is inclined to God’s will, by changing and tearing all the negative ‘labels’ into a positive outlook for reaching our desired prosperity and success, by training our children how to save and value money and become entrepreneurs while they are still young, and lastly by enlarging our skills in order to match the size of our psychological ‘wallet’. He also provides truly rich principle for us to heed: (1) we should not be contented of earning ‘enough’. We should say that our heart is too big for that and we want to earn ‘more than enough’ so we could bless the poor, (2) we should see ourselves earning double of what we are earning now and get comfortable with it, (3) at the end of the day, who we are do not count. It’s who we think we are that determines our success, (4) contradicting desires create contradicting results, (5) we inherit the size of our psychological ‘wallet’ from our family. If it’s too small, get a bigger one and (6) there is no shame in selling. In fact, it is a fantastic way to serve. 

Secret #3: Getting Rid of Crazy Religious Beliefs 

In here, the author points out that our religious beliefs determine our wealth more than what we think. He says that one of the biggest monsters that keep us poor is that we really don’t want to be rich, and that we don’t want to be rich because we’ve got crazy, insane religious beliefs about money. Religious beliefs are so deep, so wedged to your core identity, you follow them even if we are not aware that we are not aware that we are following them, he adds. However, the writer cited many areas to enlighten us in such areas as these by thinking these following questions: (1) have we still romanticizing poverty? (2) Do we still believe that the rich won’t enter heaven? (3) Were we still practicing the ‘I hate myself’ spirituality? (4) Were we still relying on God to much? (5) Were we still disguising with our Faith? (6) Were we still obsessed with the things that are purely miraculous? Or (7) were our favorite phrase is the term ‘bahala na’? On the other hand, Bo Sanchez gives us again principles for us not to be empty-handed and be a sort of remedy for our problems. (1) God needs godly people who will run businesses, give jobs, and bless the world with great services and great products, (2) some people remain poor because they believe they’re punished, that it’s the will of God. It’s hogwash. When God sees us in poverty, he weeps, (3) don’t expect God to do the very things he expects you to do, (4) God usually uses the sweat, the effort, the tears and the struggle we go through to form our character and lastly is that (5) God designed us to work and trust—not just to trust. 

Secret #4: Be Completely Committed with Your Dreams 

This time, the author is telling us and reveals the secrets for us to be completely committed with our dreams by (1) being the ‘scriptwriters’ of our lives, (2) by putting our dreams into writing, (3)reading our dreams every day, (4) applying the power of focus within ourselves and finally (5) applying the power of attraction. And by heeding the truly rich principles: these are (1) informing ourselves that we have the power to create the life we want, (2) by writing down our dreams, we open ourselves to life’s river of abundance and that when we read what we wrote down daily, we multiply the power of that river tenfold, (3) at our great amazement, we’ll be just surprised at how money-making opportunities will open up before us, and that they’re already there, waiting for us to discover them, finally (4) knowing that the universe adjusts to our expectations. So instead we search for money, we’ll let money search for us by becoming a money magnet. 

Secret #5: Raise Your Financial I.Q. 

At this point, Sanchez wants to expound the three big problems why people don’t get rich: (1) people subconsciously don’t like to get rich, (2) people are financially stupid and (3) people don’t ride something to wealth. In this fifth secret he will address the second problem on why people don’t get rich—because most of us don’t know how. He is enlightening us how simple it is to make money even not becoming a brilliant individual and become a PhD. He exclaims that we’ll just need to learn very simple concepts that will change our financial life forever. In this section, he is informing us that: (1) financial ignorance is expensive, (2) we should look for financial mentors, (3) avoiding bad debt like bad bacteria, (4) protecting ourselves through insurance—adequately, (4) building our retirement fund ASAP as in now, (5) automatically saving 20% portion of our monthly income, (6) investing funds as early as we can, (7) not putting our retirement fund in the bank and lastly (8) by reading books and attending seminars on money, reading business section of the newspaper and by practicing all our ideas we get by venturing in a small business. Truly rich principles: (1) knowing how money works is a totally different field of expertise, (2) who should be our financial mentor? We should see ourselves following the money, (3) by believing that God protects our families through the blessing called insurance, (4) we’ve got to start building our retirement fund now, not tomorrow, not next week, not next year, but now, (5) informing ourselves that famine will always come. So, we must always prepare for it, lastly (6) the greatest income reducer in our life right now maybe our excessive spending. 

Secret #6: Ride Something to Wealth 

This section tries to impart us a wide range of knowledge for us to be more sensitive on how to work on our assets and as well as how our assets will work for us also in return by (1) ‘riding as many vehicles’ as we can, (2) while riding, we’ll lead our magic ‘bicycles’ to wealth, (3) riding our ‘car’ to wealth, (4) learning to earn from our core gift, (5) getting ourselves paid, (6) learning to sell, (7) remembering that profits are better than wages, (8) expanding our territories, (9) we should create our passive incomes, lastly (10) be marketers ourselves. Again, the author never fails to give us pieces of truly rich principles for us to ponder: (1) if we want to be rich, we need to create multiple income streams, (2) if we want to be rich, we must use our core gift with passion, (3) our first profit in any business is financial wisdom, not money, (4) if we want to be rich, we must develop an entrepreneur mindset—even if we are an employee, (5) let us wake up each morning and ask, “how can we bless the world more?”, (6) if we want to become truly rich, we need to create a system that is replicable, invest our linear income so we can earn exponential income, (7) reminding ourselves that nothing great can be accomplished without a team, even our Lord Jesus had his team, and finally (8) we should learn to spend 80% percent of our time in marketing and 20% in developing our product. 

Secret #7: Have a Bias for Action 

The author gives us the idea in this section how we should take reasonable actions for us to lead ourselves to God’s purpose of prospering us. He gives us hints to be sensitive with like: (1) we should look for natural signs, (2) we make things happen for us to realize our success, (3) make our failures as our gateway to success, (3) take bold massive actions, (4) learn applying 10 sacred rules of success by the author himself as a guide, (5) do not lax. These are the tips and principles he wanted to impart unto us: (1) for pioneers, perfectionism is never a good strategy, (2) the difference between a successful and an unsuccessful person is that the successful person has failed 10 times more than the unsuccessful person, (3) if we want to succeed, don’t take timid, tepid, tentative steps. Let us give all what we’ve got, (4) allow yourself to fail, and lastly (5) to hustle means to believe that there’s a solution to almost any problem—and to take it upon ourselves to find it. 

Secret #8: Win in All Areas 

In this last section, he tries to commune to us that whatever or whoever our status in life no one can compel us from stopping to conquer our long-waited success and able to excel in all areas of our life. It is useless to win in one area and be defeated in another, he adds. He gives these following tips forus to win in the seven in the seven major areas of life. We really need to strengthen our relationships, grow in emotional maturity, use our core gift, get physically healthy, gain wisdom, build our money, and being able to nourish our spiritual life. These are the things that we must consider:(1) follow our inner desires, (2) define your own success, (3) let’s give our best, (4) our harvest will depend as to what we give, (5) learning to sacrifice our wealth for others. Now we should learn to appreciate and apply this truly rich principles given by Bo Sanchez: (1) our inner compass is God’s voice within our soul, (2) we are already because we are God’s children, (3) challenge yourself with what more you can be able to give, (4) the more we give, the more we receive; this is a law in the very fabric of the universe, and finally (5) if we see the poor as our own family, we won’t give charity to them. We’ll love them and we’ll shed our blood for them.