What struck me as odd, is that this is an ongoing group that grows and helps each other online. This is not one writer's attempt at making money by just selling books.There is a clear mentoring program online that is possible for all readers. It helps those who follow the basics, improve, and want to learn more from another mentor who has already succeeded. The book is like a hard copy for an online club with live seminars. The group meets in Maui and continues to grow widely in its appeal. This was not expected, but had me curious. It is a simple message. If you live below your means and save to invest for your future, you can reach your goal over time. There is no over promised gimmick of "being a millionaire in just 3 months" or less. It will take a long time, but is still possible for many.
Most of the time, many people think they are too busy or not well enough informed to be a good investor. The main focus of this book is to take a full inventory of your life, and start on a new clear proven path. You may be young or old, just out of college or near retirement, or somewhere in between. It does not matter where you start, it only matters that you do start. It is about not fooling yourself financially. It is about clear steps to understand what basic financial planning is. It explains how passive income from a sustainable lifestyle can set you on a solid financial footing for a lifetime.
The book starts by making the reader look in the mirror, and fully understand where they stand financially. It clarifies where they have to start from. It moves on to helping a reader see what resources are around them and what personally motivating goals are possible that will keep them driving for them long term. Next is the most interesting part, how to remove limits set in your own mind, and allow yourself to aim higher. Mentally, you may be your own worst enemy. Once a goal is clear, some hurdles can be handled alone, and others would be help or advice. Knowing that you have access to a network you can use to overcome those hurdles is a big step forward financially for many.
The Top 6 Takeaways from this book that impact any reader are:
1) This first step is figuring out your Wealth Operating System. What kind of investments would fit you and your part-time or full-time job. Budgeting how to start on a road that has a destination, a clear financial goal.
2) The second step is how to focus your efforts into what you know, and more importantly, what you do not. Breaking down mental limits and aiming higher is a great personal exercise to better understand mental baggage that you may have.
3) The third step is about how to overcome any mental limits about how, something is "too difficult" or "needs too much time" or any other excuse you can come up with. There is no money race in life, just a marathon journey that can get more comfortable with more income.
4) The fourth step touches on how exactly to focus on milestones along your new path to financial success. You learn what many others use to figure this out and choose your own that seem the best match. There is no one size fits all in finance.
5) Overcoming adversity is a skill that needs to be learned not avoided. Working with mentors will not always be smooth. Help often needs to be earned from others and is not given away freely. How to work with successful mentors is explained very well.
6) What is wealth to you and how would you define it? Besides cash in a bank account what lifestyle or life balance would you describe as being a wealth goal? This sounds easier than it first reads. Figuring this out can be very rewarding personally.
2) The second step is how to focus your efforts into what you know, and more importantly, what you do not. Breaking down mental limits and aiming higher is a great personal exercise to better understand mental baggage that you may have.
3) The third step is about how to overcome any mental limits about how, something is "too difficult" or "needs too much time" or any other excuse you can come up with. There is no money race in life, just a marathon journey that can get more comfortable with more income.
4) The fourth step touches on how exactly to focus on milestones along your new path to financial success. You learn what many others use to figure this out and choose your own that seem the best match. There is no one size fits all in finance.
5) Overcoming adversity is a skill that needs to be learned not avoided. Working with mentors will not always be smooth. Help often needs to be earned from others and is not given away freely. How to work with successful mentors is explained very well.
6) What is wealth to you and how would you define it? Besides cash in a bank account what lifestyle or life balance would you describe as being a wealth goal? This sounds easier than it first reads. Figuring this out can be very rewarding personally.
The book came out in 2007 near the peak of the real estate housing bubble, and has remained valid due to the core concepts of passive income. Flip this house was a fad that can come and go in any hot market. Figuring out population trends and solutions to solve issues is never a fad, but a core business skill. This last point is the most valid for any reader. The core concepts can help you adapt to different markets over time. The principles hold steady even if the fad style trends come and go. This is a great mental tool box of great ideas that can really help anyone. Highly recommended.
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