Over the past year, I’ve read perhaps a dozen personal finance books by various popular authors in that genre. Each of them made some good points, but few of them struck a chord the way that Rich Dad Poor Dad has. Most of them explained the basics like saving for retirement, building an emergency fund, and controlling your spending. While valuable, I’ve known for a while that there has to be a different way.
Rich Dad, Poor Dad has taken a different approach and the one takeaway that was extremely valuable is the notion of building assets to build a secure future. So, that has been my number one priority. Right now, my number one asset is my online skills, both with SEO and with monetization. I can write anything, and that spells gold when it comes to building a portfolio of intellectual property assets.
Thanks to this book, I have stepped up my efforts with Income Steps Academy and am working around the clock to build a portfolio of websites, ebooks, and other online products, which will start me on the path of building residual income. Here are some of my action steps that were inspired by this book:
Don’t Settle for Less
Sure, I can plan on being an employee for the rest of my life – but I don’t want to do that. Do I like my job? Yes! Am I planning on staying there for a while? Of course! In fact, it is safe to say I will very likely have that job until I retire.
Focus on Education
Sometimes, it isn’t all about making money. What can I learn from whatever it is I am doing? Education is a valuable thing. Each phase in life also has a lesson to teach me. My hope is to always move forward, and to always keep learning.
Always Be Bold
Being smart isn’t always the best thing. You have to be bold in order to really craft the life you want! Being bold is also about taking risks. You can’t win big if you don’t risk big!
Have a Strong Purpose
Define my “why”. Why do I want to meet my financial goals? What is my purpose in life? How does this fit in with my relationship with money? For me, defining and following my purpose is the key to crafting the ideal life.
How Can I Afford It?
Robert’s rich dad wanted to know, “How can I afford it.” His poor dad always said, “I can’t afford it.” My goal is to always wonder how I can afford something that I want, and then figure out a way to make it happen.
Since reading the book, I have already made strides. I have been more focused than ever concerning my online business! I used to complain about burnout, and now I know that if I don’t ignore it, I won’t reach my financial goals. I asked myself, what is my current life situation teaching me? How can I afford the life I have dreamed up for myself?