Rich Dad Poor Dad

Prices soaring to the highest average ever recorded.

Well, first of all, the reason I wrote Rich Dad, Poor Dad was because I knew this time was coming.

And we have, as a world, have never been here before.

And so is it a spooky time? Damn, yeah.

I was thinking of, I saw an article the other day.

It's like Rich Dad, Poor Dad.

Yeah, I've also got that book if you want to read that.

But Rich Dad, Poor Dad is like in massive debt now.

Yeah, yeah, it's not.

But Barefoot Investor is a good book.

Number one, paying yourself last.

I first heard of this in the book Rich Dad Poor Dad by Robert Kiyosaki and it's one of the blueprints in achieving financial freedom.

Robert explains that the way people pay their bills can be broken down into two types.

The first way is the poor people's habit.

What was the decision, first of all, to even get into real estate in the beginning and then pivoting to self-storage

yeah uh you know like probably many real estate investors it was uh rich dad poor dad was the book that i read i was i was luckily i read it when i was very young i was 16 years old i already knew after i was done reading that i read all of his other books like in a period of 18 months i knew that i wanted to be a real estate investor i want to be a business owner um And unfortunately, or fortunately and unfortunately, my parents were a very kind of old school mentality.

You go to school, get good grades.

You go to university, get good grades, or good enough grades that you can work at a Fortune 50 company for 45 years and then retire with a pension.

And that can be a self-storage or an apartment building or an industrial building.

They're stressed at that level.

And they think, well, how do I get this to 10 buildings or 20 buildings when I can barely handle a couple? So I really do think that is a great point that you bring up is to really value working on on the business on the real estate versus in it because I think a lot of people become very stressed with that and I just want to even circle back to the rich dad poor dad it's I think Robert Kiyosaki is kind of gone a little bit crazy as of late because I think he's predicted 50 of the last two recessions now at this point and He's a little bit out there, but he's introduced more people to real estate than anyone that I can think of.

So on the one hand, he is a little peculiar these days, but you and me both, that was the first book I remember reading that really introduced me to real estate as well.

And for anyone for whom that name does not immediately ring a bell, well, he's one of the best selling personal finance authors of all time.

He wrote the book in 1995, Rich Dad, Poor Dad, which sold as many, if not more copies than any personal finance book ever written.

And it really became a lighthouse to living a prosperous life for millions of people.

He's spent the three decades since then selling a lot of stuff to people and he's become something of a perma bear and whatever.

[laughs] It was not something that I was really into.

I read Rich Dad Poor Dad, right? So I read the old school book.

Of course, yeah.

And made me, of course, I have to do real estate.

Like hardcore DIYer? Yes.

And especially like I read Rich Dad, Poor Dad and Billy, you know, I really just kind of grasped that idea of I can go.

Well, like you as you like when I say this, create my own destiny.

Yes.

And then, so I did that, probably died into a career at Morningstar for about nine months in corporate finance and didn't really jive with me.

And then that was around the time of the early 2000s when the Rich Dad, Poor Dad books came out by Robert Kiyosaki.

And so those books really hit home with me and started reading those.

I was like, oh, what's this entrepreneurialism? Like, what's this word entrepreneur mean? Business owner and all that, you know? And so that really intrigued me.