Recently, there is one friend who asked me to write on books that have impact on my life. In fact, there are a lot of books that I felt that have changed the way I do things which transformed me to who I am today. However, out of so many books, I would like to share 1 book that have changed my life the most. The book is written by Robert Kiyosaki. The book is not the popular “Rich Dad Poor Dad” but “Retire Young Retire Rich”. I personally feel that this book is much more powerful than the “Rich Dad Poor Dad”. The below is the cover picture of the book.
In the book, it mentioned the reason why we need to retire early. Our focus should be on regaining our control on finances as fast as possible and we will have plenty of time to accumulate the wealth we need for our wildest dreams. In the first chapter, it mentioned everyone has the potential to be rich even though one started without any money. It is all a matter of leverage.
There are 3 types of leverage mentioned in the book:-
- Leverage of our mind: we first need to believe that retire young and retire rich is possible. It does not take money to make money. Getting rich begins with our word, and words are free. In the book, it mentioned that people who say “investing is risky” are some of the biggest losers in the investment markets. Robert mentioned that we will soon find out what we think is real becomes our reality. Change the words we choose, our wealth destiny will change accordingly.
- Leverage of our plan: Robert mentioned about investing is a plan. We need to have a plan so that we are moving towards the right direction. Most people have the plan to be poor. That is why so many people say “When I retire, my income will go down”. In other words, they are saying “I plan on working hard all my life and then I will become poorer after I retire”.
- Leverage of our actions: There is an overused story about three birds sitting on a fence. The question is, “If 2 birds decide to fly away, how many birds are left?” The answer is “3 birds are left”. The lessons is, because we decide to do something does not mean we will do what we decide to do. Implementing what we plan is crucial to our financial success!
The above are the three main messages conveyed by the book. Because of the book, I have changed my mind that we have the rights to gain wealth. I understand that we need to change our mindset to be retiring early rather than following the majority who are struggling financially. If we want to have different destiny, we need to change our mind, have a plan towards it and implement according to the plan. We need to think and act differently from the majority since the majority cannot retire early. After reading the book, I have started investing and investing even more aggressively over the time. I shall share more the book review in the upcoming article. Stay tune!
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