I’ve finally come to the realization that in order to get out of the perpetual hamster wheel of working for others, I need to do something different to take control. One day, while repeating my normal routine of halfheartedly listening to my boss drone on about something I didn’t particularly care about, I made the decision that I was done. Too much of my time and energy had been spent being at the beck and call of others and doing things I didn’t want to do. I needed to focus more of my efforts on something that would stimulate my mind and ultimately pay dividends in my future, literally.
The Book That Changed My Outlook on Wealth
If you haven’t heard of the book Rich Dad, Poor Dad by Robert Kiyosaki you have probably been living under a rock for the past decade or so. This book has been on the New York Times’ bestseller list for many years and has also been the subject of controversy based on Kiyosaki’s bold statements about money and building financial freedom. Those who have read the book will probably agree that this book is very polarizing – you will either hate it or love it. If you have not read it, I highly suggest you visit Amazon or your local bookstore ASAP to grab a copy now and see what I mean for yourself!
One of his main premises is the idea that the American education system has failed us with the lack of financial education in our schools. While some of us were exposed to advanced math subjects like calculus and trigonometry, most of the knowledge gained in those subjects the average person will never use again in their daily life. However, money is something that everyone deals with but as a country we are financially illiterate. Financial subjects like interest rates, income taxes, and time value of money are things we encounter all the time that should be taught in school but are not.
His other main premise was the idea of working for money vs. having money work for you. This is where my entire mindset needed to shift. I have always been a hard-working person and while that has definitely helped me to achieve success in my academic and professional career, I do not have anything to show for it if I were suddenly unable to work again. Now, I am a young, spry person with many working years left ahead of me, but instead of working strictly for others I have decided to focus on working to achieve passive income. With enough passive income, I do not have to spend all of those precious years of life working and can focus on things I like much better like traveling, learning new things, and spending time with friends and family.
New Frontier in Real Estate
For Kiyosaki and many others, the main vehicle of achieving passive income and eventual financial freedom was through real estate investing. Reading through all of Kiyosaki’s trials and tribulations in the industry was so fascinating. When I reached the end of the book I was invigorated with new energy and desire to learn more about real estate and how I could become successful in it. Ultimately, I came to the resolution that if he and so many other regular, everyday people could reach extraordinary heights and change their life through real estate, then why not me?
With that being said, this blog is the beginning of my journey into the world of real estate investing. I don’t have much prior knowledge of real estate and as far as I know, all of my family and close friends have never tried to own anything but their own home. Therefore, I am truly going at this without any prior reservations or biases. If you are reading this and are currently investing in real estate, I would appreciate any advice or words of encouragement as I set out on this new endeavor. If you are reading this and are a newbie like me, I invite you to join me on this ride as I detail my successes and failures on my journey to achieving financial freedom!