- Real estate investors and early retirees say that “Rich Dad Poor Dad” changed their money mindset.
- The book explores timeless money lessons, including the importance of having money work for you.
- One real estate investor and early retiree, Michael Zuber, says he’s read it upwards of 10 times.
After losing nearly his entire nest egg to day trading stocks, Michael Zuber decided to explore alternative ways to invest his money.
He went to a bookstore to look for investment books and was drawn to the only purple one on the shelf: “Rich Dad Poor Dad” by Robert Kiyosaki. “I grabbed it and ended up reading it over and over, 10 to 15 times, just because it was so different from anything I’d ever read before,” he told Insider.
Originally published in 1997, Kiyosaki’s bestseller is considered one of the greatest
personal finance books
of all time. The author grew up with two father figures: “poor dad,” his real father who died with bills to pay, and “rich dad,” who started with little before becoming a wealthy man. Both fathers were successful in their careers and earned substantial incomes, but one always struggled financially.
Kiyosaki noticed fundamental differences in the way “rich dad” and “poor dad” thought, spoke, and acted. Throughout his book, he offers timeless lessons he learned from “rich dad” that will help you master your money and build long-term wealth.
The book introduced Zuber to the concept of “having money make money,” he said. “I’d never really had a conversation about how money works and how the rich get richer by owning assets.”
One of Kiyosaki’s main points is that the wealthiest people focus on building assets — things that put money in your pocket — while everyone else focuses on their monthly income and salary. “The long-term rich build their asset column first,” Kiyosaki writes. “Then the income generated from the asset column buys their luxuries. The poor and middle class buy luxuries with their own sweat, blood, and children’s inheritance.”
Michael and Olivia Zuber retired in their 40s, thanks to smart real estate investing.
Courtesy of Michael and Olivia Zuber
With that in mind, Zuber and his wife decided to try real estate investing and build wealth by buying homes and renting them out. They lived below their means, saved enough to buy one rental property in Fresno, California, and started earning passive income.
They continued acquiring properties for the next two decades and eventually started earning enough in passive income that they felt comfortable quitting …….
Source: https://www.businessinsider.com/rich-dad-poor-dad-book-review-lessons-money-personal-finance-2022-2