The hardest thing about taking massive action in your finances is developing your mindset. Without your mindset, you cannot take massive action seriously enough to take consistent next steps. Throughout my journey as a passive investor, I have read countless books that have helped shape and sustain my mindset for wealth creation and passive investing. Here, I share my top three picks.
Rich Dad, Poor Dad
Ask any five real estate investors what is the book that most inspired their journey and three will say Rich Dad, Poor Dad by Robert Kiyosaki. In the book, Robert chronicles his questionably fictitious childhood and the contrast between his real dad and the wealthy entrepreneur father figure he refers to as his ‘Rich Dad.’ In the book, he brings to light cultural norms of going to college, getting a good job and working until retirement and how his Rich Dad took a very different route by buying assets that pay him.
The Richest Man In Babylon
Set in the stage of old Babylonian times, the Richest Man in Babylon is essentially a series of timeless parables that are sure to cause self-reflection into how one manages his or her money and wealth. As you read this book, you will apply lessons about personal finance, investing, leverage, money management and true wealth. Hint: it involves passive income! This book sits on my shelf as one to revisit every few years.
The 4-Hour Workweek
This classic written by Tim Ferris provides a counterintuitive approach to business in a culture where hustle and tireless work is celebrated. In The 4-Hour Work Week, Tim shares how he built a high-performing business that worked for him instead of enslaving him. He shares important lessons about how one can achieve wealth and thrive without going nuts. While much of the content pertains to business, Tim essentially is highlighting the passive investor lifestyle. The 4-Hour Workweek shares what is possible for those who are willing to take control of their financial and business lives. This one spoke to me and was a game changer for how I would eventually manage Robinson Capital.
I encourage you to check out these three books if you have not yet read them. They shaped my mindset so significantly, that I did not imagine a life without applying the principles of passive income and wealth creation through real estate.
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– How To Use Your 401k To Invest In Real Estate
