Ready to Rethink Wealth? Lessons from Rich Dad Poor Dad You Need to Hear

Join Melissa Nash on Passive Real Estate Investing for Her as she uncovers life-changing insights from Robert Kiyosaki’s Rich Dad Poor Dad. Discover how Melissa shifted her financial mindset—moving from consumerism to building wealth through real estate. 

Dive deep into concepts like the difference between assets and liabilities, the Cash Flow Quadrant, and how financial education is key to success. 

Tune in to learn how you can apply these lessons to start or elevate your real estate journey and build lasting financial freedom.

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Transcript

Hey there. It's Melissa Nash and welcome to passive real estate investing for her.

Today, I'm diving into something. That's been a game changer for me.  A little book you might've heard of called rich dad, poor dad by Robert Kiyosaki.  This book completely transformed how I view money, wealth, and investing. It helped me shift away from chasing things. 

And I'm saying that in air quotes, And instead focus on building assets that lead to real financial freedom.  In this episode, I'm sharing my personal journey. How rich dad, poor dad opened my eyes and the powerful lessons that helped me break free from the trap of consumerism and how you can start shifting your mindset to. So if you're ready to create a life filled with security. More time and financial success through real estate investing. Grab a coffee and let's dive in.


Welcome back to passive real estate investing for her. I'm your host, Melissa Nash. And today we're diving into a book that has sparked countless aha moments for investors around the world. If you're just getting started with real estate or you're looking for a fresh mindset shift. This episode is for you.  I'm talking about the legendary rich dad, poor dad by Robert Kiyosaki. A book that has impacted my life, my journey into real estate and millions of other investors as well. It's not just a book about making money. It's a book about making a life. One of financial freedom. Empowerment and most importantly control over your own future. 

I remember when I first read this book. I was listening to it on a road trip with my headphones in.  I was feeling stuck, frustrated, and uncertain of my financial future.  At one point in my life, I saw everyone around me chasing what I thought was the dream. You know, the one with the fancy cars, the designer purses. The latest trends to keep up with the Joneses. And for a long time, I thought that was what success looked like. 

But deep down, none of that really appealed to me. What I really craved was security and time. Time to be with my family time to explore my passions. And time to live life on my own terms.  When I picked up that book, well rather picked up my headphones to listen to that book. Rich dad, poor dad. It was like someone finally put into words, everything that I felt. The idea that wealth isn't about having more stuff, but having more freedom hit me hard. It was the wake-up call. 

I needed to realize that chasing things was a never ending race. But building assets could buy me the security and freedom that I truly wanted. That's when I knew that my financial path and my life had to change. In today's episode, I'll be sharing the big takeaways from the book

and how you can use these lessons to jumpstart your real estate investing journey. So let's dive in.  For those of you who aren't familiar with rich dad, poor dad. It's essentially a story of two different perspectives on money and life. On one hand, you have the poor dad. Kiyosaki's biological father who is educated, hardworking, but consistently struggling with finances.  On the other hand, there's rich dad. 

Kiyosaki's mentor. An entrepreneur who thinks outside the box. And believes in making money work for you, not the other way around. The book does an amazing job of showing how these different mindsets lead to completely different financial outcomes.  Now, let me tell you. When I first heard this book, I was at a turning point in my own life. After closing down a multi-million dollar business that I had started from scratch and feeling like I was just spinning my wheels at a corporate job that I hated. I was desperate for a way out.  

Rich dad, poor dad gave me a fresh perspective, helping me see that working hard. Isn't always enough. You need to work smart. Invest wisely. And most importantly, start thinking like the rich.  And that brings me to our first big highlight from the book.

Assets versus liabilities. 

Kiyosaki's key message. Is that the rich buy assets while the poor and middle class buy liabilities? Often thinking their assets.  Here's a quick definition.  Assets are things that put money in your pocket.  Liabilities on the other hand. Take money out of your pocket. Right.  In simple real estate terms. A rental property is an asset. It generates cashflow. 

It appreciates in value over time. And provide some great tax benefits.  Now compare that to a liability, like a car payment. Or a fancy gadget that just eats away at your bank account.  This one idea.  Knowing the difference between assets and liabilities. Completely shifted the way I saw money and investing.  And trust me, once you start looking at real estate as an asset machine, you'll see the potential to build your own longterm wealth.

I once worked with a woman. Whose name was Jill.  She had been previously saving up to buy her dream car.  And she told me after she read rich dad, poor dad, she made a different choice. She decided that she wanted to use that money to put down with her first investment property.  That one decision changed her life. Not only did she start creating true wealth through that longterm asset? But she started earning rental income.  A year later, she was able to buy her dream car. She put a down payment on it that was paid for by the cash flow from her rental.  

That's what happens when you start seeing assets as the key to your financial future? 

So here's the thing school doesn't teach us about money. The one thing that I do like about this book is it breaks down how traditional education. Is great for getting a job, but not so great for learning how to make your money work for you.  The rich dad in the story emphasizes that financial literacy is the foundation of wealth. And that's exactly why you're here, right. 

To learn and to grow. So many women that I talk to are overwhelmed by the idea of investing. But it doesn't have to be that way. When you educate yourself about how to buy, manage, and scale rental properties. Suddenly it's not as scary. It's empowering. You can confidently say, I know how to buy a house. I can make that house an asset. And I can use it to reach my financial goals. It's all about taking control of your money. Rather than letting it control you.

In the book, rich dad, poor dad. It teaches that instead of working for money, you should work to learn skills that will make you financially free.  This was the light bulb moment. This was huge for me. This, this one part. Was why I first got into real estate. It wasn't about the paycheck right away. It was learning how to analyze deals, understand markets and how to manage the property manager who was going to manage my properties.  For those of you who are looking to get into real estate, don't just chase the money, chase the skills.  Learn how to talk to potential sellers or realtors or how to manage the property or how to work with. Property managers. 

 One of my favorites. Learn how to think like an investor. That knowledge is far more valuable than a salary because it compounds over time.

Number four. Kiyosaki introduces what he calls the cash flow quadrant. Which is basically a way to categorize how people make money. You have the employee. The self-employed. The business owner and investor.  Now the goal is to transition from being an employee or self-employed where you trade time for money. Into being a business owner and investor where your money works for you.  Real estate is the perfect way to do this.

Imagine owning properties that send you rent checks each month. Imagine replacing your nine to five income with passive income streams from rental properties. That's where moving to the right side of the quadrant.  That is what's moving to the right side of the quadrant is all about.  Number five. Kiyosaki says don't play it safe. And I get it. 

It's scary to take risks, especially financial ones. And let me tell you every risk I took in real estate came with a reward. Whether it was buying the first out-of-state property or investing in a market. I wasn't familiar with. Each step was a calculated risk that paid off.  But the key here is to educate yourself first, run the numbers, understand the market. And then jump in. Because at the end of the day, the only thing more costly than taking a risk is playing it safe and missing out on opportunities.

Number six. The final, big takeaway from rich dad, poor dad is thinking long-term.  Wealth doesn't happen overnight. It's built over time by making smart decisions and letting your investments grow. Real estate is perfect for this. It's not about making a quick buck. It's about creating generational wealth, financial freedom. And let's face it, the kind of security that lets you sleep soundly at night.  So there you have it, some of the most impactful lessons from rich dad, poor dad. And I hope that these will encourage you to take a closer look into real estate investing. Whether you're starting or you're ready to scale up. 

These principles are timeless and they work. If you haven't already go read rich dad, poor dad. And if you're ready to start taking those steps towards financial freedom, I'd love to help you on your journey. Reach out to me, check out my coaching programs and dive into the free resources that I've created just for you. Thank you so much for tuning in. And remember. Smart women make smart investments. Until next time, happy investing