So I'm sure many have you read this book or at least are familiar with the basic concept. For those who are unfamiliar, the basic premise is that you need to generate sources of passive income, ie through owning real estate, a business, patents, etc, in order to become wealthier faster and more easily. As opposed to what most of us do, work harder, longer in order to pay off more and more debt.
Although I understand what the book is driving at, I find myself even more frustrated b/c I feel powerless to escape the life of the poor dad. I feel like I missed the window with the real estate boom, I don't have any original ideas to patent, and I don't have the slightest idea how to begin my own business, which would seem like more work, anyways. Have any of you actually successfully implemented this rich dad concept?
I guess I bring this up now b/c we're planning on moving and it's stressing me out. I feel like we won't be able to afford the size home we want/need. And in a few years, either I'll be forced to change jobs or Joyce will be forced to return to work. I don't want to whine. I realize we are ridiculously wealthy compared to rest of the world. I'm just curious if any of you have been able to figure out how to work less and still make more. Sounds nice, doesn't it?
9 comments:
Life married with kids is a daunting task - Life was much simpler when single and surfing.
It's tough trying to balance work, family life, etc. & it's only natural to feel that you have to provide for your family...BUT - Brian, trust me in that the old saying about "How much money is enough?" is true. No matter how you may feel, the answer will generally be "A dollar more than you have." b/c once you start feeling that you have to provide/maintain your family with worldly things, you will never be satisfied no matter how much you may own or have - it will never be enough because as you know, only Christ can make us whole.
can't agree any more with what jin has stated...
the book is GREAT... and if it stirs your mind, then it did its job... i do believe in the "ask and you shall receive" priniciples... not a big proponent of the "health/wealth" gospel... but there is something to "poverty mentality" that is endemic amongst christians... truly do believe that many of us have the capability to earn substantially more income than the greater % of the population... and hope that we can maximize the gifting in each of us and earn that income, if possible... would love to the church be the source of the highest income earners in the world. after all, we have many, many, many workers that have amazing visions and desires... if we took a poll, what is the biggest limiting factor in each of their "visions"... money...
i could on and on for hours... :)
and i know that i don't hold the most popular view... but it is one that i believe should be addressed more strongly within the church...
brian, i wish i had the answer... but there is a lot in front of us... would forget about the "lost chances" you are faced with (especially being in california, where everyone is talking about real estate and stocks...) see where your passions arise and therein will lie the answer for where your future will take you...
didn't help much, i know... but it's good to hear you struggling with it... it is a good struggle... :)
Thanks for the comments, guys. You're both totally right on. For the most part, Joyce and I have tried to live simply and give generously and been very content with what God has provided. He continually amazes me with His overflowing cup. You don't know how many times we've made decisions to give and then we receive back 10-fold.
I just hate feeling trapped by school loans, mortgage, etc. To be honest, I've always felt medicine to be my calling, and not necessarily my passion. If money had nothing to do with it, I think I would become a high school football coach. Maybe one day I'll figure out how to make it work. I swear I was Norm Chow in another life. :)
brian,
you raise many interesing points
as i embark seeking "real" employment after fellowship we are also confronted by the same questions you and joyce are already facing.
life is very simple right now, we rent, we have a roof over our heads, we pay our bills, i drive my honda accord and have a little on the side for "fun" activities.
eventually the med school loans, and the impending mortgage does await....
I don't think i have the experience of some of the OP to give regarding what is enough- but right now, the delayed gratification that medicine promises, as much i am hearing is not what it used to be- and that also troubles me- i DO want the wordly things to come into our lives. I think I deserve it.
nonetheless we chose a risk adverse career- but would i trade it in to work at a hedge fund? i like to think NO.
Am i going to delve into the stock market? buy rental property? try to market new ideas?- probably NOT. I guess in a few years, I will be in your shoes, longing that I had done something to generate more income earlier- and then become reflective about the non worldly treasures that we are blessed with- and come right back full circle to your original blog.
Hey can you send me the book.........
Hey - Jo-Anne - good to hear from you!
Brian, I think you are more than on the right track. Would you really be more happy & content as a high school football coach? Maybe you should do a sports medicine fellowship & get involved with local sports teams to fulfill your Norm Chow fantasies.
I wonder how many people can actually wake up every morning & do what they truly feel is their passion & true calling. I bet that the large majority feel like they're just punching in a time card day in & day out, just biding their time - But, in a way, we truly are just biding our time here on earth - Man, this is getting all too philosophical, but for me, whether I'm being too simplistic or naive, Life is all too complicated & it's tough enough for me to try to live a Christian life to be distracted by too many things, I'm distracted enough already! I'm not saying that we should live like monks & give away our worldly possessions, but as the Good Book says "Seek ye first the Kingdom of God, and all these things shall be given unto you." Brian, like you said, you gave and God returns you ten-fold - trust me, there's no stock, real estate, or any other investment that will yield that kind of return. Keep walkin' the walk, my friend!
Brian, it's interesting that you bring that up. I work with a guy who has been greatly affected by that book and he is living it. He is an internal medicine guy who works about 3-4 days/wk at the hospital and has 3 kids with the fourth due this week. He is an american-muslim convert and lives pretty simply with a very spiritual outlook on life with family, God, and service as his priorities. The interesting thing is that because of this concept, he has started dabbling in little business on the internet. It just runs on it's own. He uses humor, usu. medical humor, and has it printed on shirts, buttons, stamps etc. Every month he gets about $1000/mo by doing practically nothing. He's not out for the big bucks, but has started dabbling in litte things that he's interested in and making money at the same time.(gigglemed.com if you want to check it out). Also, he has started writing a series of children's books that go through medical safety tips, anatomy or charity etc. He loves kids, likes to make people laugh, and is using his experiences to be creative and then sells it. I'm not saying that you should strive to make money. I agree with the previous comments and God really does provide. However, I think that God gave us creativity, drive, intelligence, and opportunities to be where we are and where we want to be. Opportunities seem to be out there and maybe it's us who don't seek them out. These opportunities may be lucrative and they may not, but it's not a bad idea to look into new things that don't make you feel so trapped by your financial situation. All the while, remember, it's only money. I'm sure God will guide and lead you. Personally, I'm thankful for friends like you have chosen friends, love, and life, rather than money. It's refreshing.
Great point about maximizing our gifts, Jen. Another point you touched upon that is also in the book is the increased freedom that comes with money. Freedom to spend more time with family, freedom to support worthy causes, freedom to pursue other callings and passions. Wealth, security, lifestyle are not the ultimate ends.
I heard a prayer once that I really liked, something to the effect of "God give me today my daily bread, no more that I would be tempted to become self-reliant, and no less that I would be tempted to steal"
not going to address all those wonderful comments stated before. i struggle enough with those issues on a daily basis and i don't even have a family to worry about yet.
i will address the other more practical questions you asked about. (btw, one speaker i've heard mentioned to me that kiyosaki really doesn't even do real estate anymore. That doesn't discount the ideas in the book or anything, but I have a feeling he's living pretty nicely off the royalties from the book and everything else associated with Rich Dad. >$100 for a board game that is similar to Monopoly? gimme a break. And the Rich Dad is just a mixture of a bunch of mentors - it's not a real guy. FYI)
Back to my original thought (blogging is dangerous - stream of consciousness writing is not necessarily good) -- if you are interested in learning about other ways to make money (i.e. real estate) and multiple streams of income, you should check out the Learning Annex's wealth expo. I believe that one is coming up in March in LA. Basically, it's a weekend of lots of speakers about any and every way to make money, esp. in real estate. Most investors don't make money off of the equity so they could care less about the boom or bust except that there are better deals when the bubble bursts. That's what many of them will tell you, at least. If you're interested, check out the learning annex's website (learningannex.com) for more info. But, beware, these speakers are all just trying to sell you their way of making money so leave the credit card at home so you won't be tempted. at the very least, it will give you ideas outside the norm that can inspire you to do other things and make more residual income.
i've been to a few of these things and i've read a couple of other books you might be interested in if you liked this one so if you want to know more, email me. as much as i like this blog, if i log on too often, i'll never get any work done.
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