Jamie McIntyre has a famous theory called 'the law of opposites' - despite its simplicity and almost comical nature the law of opposites can be an incredibly powerful tool for creating a successful life and developing the mindset of a millionaire.
What exactly is Jamie McIntyre's 'Law of Opposites?
Quite simply Jamie McIntyre suggests that one of the best ways to become financially successful is to "find out what most people are doing and then do the exact opposite".
So when you are faced with a decision or a particular situation, think about what the average person would choice to do and then do the exact opposite. As comical as this may sound you will probably find that it will lead you to some amazing and unexpected accomplishments.
When Jamie McIntyre first told me about his 'law of opposites' theory I thought he was being silly. How can the law of opposites help you develop the mindset of a millionaire, surely its more likely to develop the mindset of a 'crazy lunatic' who has a severe blockage in their decision making process? After reassuring me that he wasn't a 'crazy lunatic' he proceeded to explain why the law of opposites is in fact a crucial part of developing the mindset of a millionaire.
When I look at the results that most people's actions are producing they are way below my expectation. So if you want to produce similar results to these people then your task is very easy - Simply make the same or similar decisions that they are making and you will be just like them in no time at all. What Jamie McIntyre is trying to say with his law of opposites is that to be successful you need to do things differently than the general public. You need to start developing your mindset of a millionaire and stop making the same decisions as everyone else.
One of the best examples that I can give you of Jamie McIntyre's Law of opposites in effect is how most people approach becoming wealthy or rich. Rather than trying to get a financial education and develop the mindset of a millionaire most peoples attempt at becoming wealthy is to buy a whole heap of tattslotto tickets. If these people would take the time to educate themselves in the world of finance they would be astounded at what they could achieve.
Forget any fancy strategies or borrowing to invest, if people could learn and master one simple concept like 'compounding interest' their lives would start to change forever. People are so often worried about not being able to pay for their child's education but did you know that if you were to invest $3.33 per day into a fund that was earning 15% that by the time your child turns 19 it would be worth $110,424. Then if you stopped contributing and let the money to continue to grow on its own it would be worth
- $9.6 million by the age of 50
- $39.2 million by the age of 60
- $158.2 million by the age of 70
Basically that means that if you were to give up a mars bar a day or your weekly tattslotto ticket you would be able to leave your children a multi million dollar inheritance. When you start to create the mindset of a millionaire you will never cease to be amazed by the things you can create. The ironical thing about tattslotto is that within 3-7 years of winning, most people are in a worse position financially than they were to begin with. Why? Because they haven't developed the mindset of a millionaire, they have simply been gifted a whole lot of money and they don't have the correct skills to make their money work for them.
Imagine if someone was to offer you the choice of these two things
They will give you a million dollars in cash
or
They will teach you how to create the mindset of a millionaire
What would you choose? I know what most people would choose and to be honest a few years ago I would have taken the cash too but after developing my own mindset and learning to implement Jamie McIntyre's Law of Opposites I know that it would be the wrong choice. In order to succeed we need to branch, take some risks and develop the mindset of a millionaire. Funnily enough, sometimes the best way to do this is to see which way most people are going and head the other way.