Again, it is very much about how the rich think, compared to the poor and middle class. It also goes into more detail about how Robert and Kim started their journey to financial freedom.

So far, this book has challenged me a great deal, and required a lot of internal processing. It was also the book that made me decide that my original plan needed a re-evaluation, and that I don't want to retire at my current standard of living, I want to retire rich.

Part of that decision was the realization I had when reading about the different exit strategies mentioned in the book.

Poor - $25,000 or less/year
Middle Class - $25,000 - $100,000/year
Affluent - $100,000 - $1 Million/year
Rich - $1 Million or more/year
Ultra-rich - $1 Million or more/month

According to this chart, my original plan had an exit strategy of Middle Class. Which is where I live now, working hard at saving and living below my means (LBYM).

While I'm not a big shopper, I do like stuff, especially images. The Doodad card in CASHFLOW of "Buy Painting from Local Artist - $200" was created for me. And, since my main interest is anime (Japanese animation), I have a sense of urgency and scarcity, since most of the merchandise related to shows I enjoy come from Japan, are expensive, and tend to be snatched up my other collector fairly quickly since the supply is low and the demand high on this side of the ocean.

Processing through the above chart, I came to the realization that at the Rich or Ultra-rich level - there is no such thing as scarcity. At that level, you can offer a price that is too high for anyone to want to keep the item you want. If you can't find it, you can hire some one to find it. If they can't find it, you can hire someone to make it.

All of this is my personally observation and interpretation, but it helped move one of the last blocks I've had, namely continue to purchase anime-related good (although at a much smaller level).

And while you may look at my anime habit and scoff - what kind of consumption habit are you still supporting? Clothing? Cars? Expensive restaurants every night?

This is the kind of experience I've had while reading this book. At several points I have set it aside and just stared at the wall, thinking through what I had just read, analyzing my feelings toward it, working my way toward the thoughts and feelings I want to have about it that I know will make me rich.

I am have currently read up to Chapter 15, and will be posting my observations and experiences soon. Please check back here for more information at a later date.

 
Retire Young, Retire Rich
Paperback Book

 
Retire Young, Retire Rich
Audio Cassette