Changing the Mindset and Building Wealth

For a long time, self-made millionaire Jonathan Sanchez believed that income is never enough. But after reading it, he changed his mind about managing his finances. He invested in real estate, “started a small business and eventually became a millionaire at the age of 37.”

Jonathan is the co-founder of Parent Portfolio, a website that helps families learn how to grow wealth and raise financially responsible children.

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In an article for CNBC, he told how he found that the life lessons we learn from books help us achieve our goals faster, especially when they show us how not to repeat the mistakes of others.

Books That Helped Jonathan Get Rich

Here are 4 books he says helped him get rich:

1. Rich Dad Poor Dad by Robert Kiyosaki.

The most important lesson: wealth is more a matter of time than money.

Kiyosaki is a businessman who has written 27 personal finance books. In Rich Dad Poor Dad, he suggests changing the mindset from “I can’t afford it” to “How can I afford it?”

This perspective has become a driving force for Jonathan to look for solutions to obstacles, rather than thinking that something is out of reach.

Contrary to popular belief, he found that wealth is not related to the amount of money a person earns. But wealth is the amount of time that money can buy. This prompted him to look for more passive sources of income (income that doesn’t require you to constantly watch in order to earn), such as his own website and real estate business.

2. “Electronic Legend Foundation”, Michael E. Roar

Most important lesson: You want to work on your project, not get stuck in it.

Gerber is a business coach and entrepreneur. In his book The Electronic Myth Enterprise, he says that one of the biggest mistakes business owners make is taking on too many tasks, such as day-to-day operations, which leads to burnout.

“When my wife and I first launched the Parent Portfolio website, which helps families learn how to create wealth, we ran it ourselves,” says Jonathan. “We did everything from design to content creation to social media marketing.”

“But once we started generating revenue, we created standard operating procedures and hired freelance writers and virtual assistants, which allowed us to focus on other growth opportunities.”

3 Millionaire Real Estate Investor Gary Keeler

Most important lesson: money actually enhances your personality.

Keller is the founder of Keller Williams Real Estate, one of the largest companies in the world. In his book The Millionaire Real Estate Investor, he argues that money does not make people evil. Instead, it reinforces their current identity.

And if someone already has a bad habit of spending money, having more money will likely encourage them to spend more. And if a person does charity work and likes to help people, then having more money gives him more opportunities to do good.

Jonathan advises trying to lean towards the latter.

4. “The Last Lecture” by Randy Pausch

The most important lesson: do not be afraid to act.

Bausch was a computer science professor at Carnegie Mellon University and was diagnosed with pancreatic cancer. In 2007, he gave a lecture on “Children’s Dreams Fulfilled”. The conversation is very touching, especially considering that he passed away in 2008 at the age of only 47.

“When I read his book The Last Lecture, I had a common thought: he was never afraid to try something new. I took that advice very seriously,” Jonathan said.

10 years ago, his wife offered to buy an apartment and convert it into a rental property. But because of his fear, he justified himself and finally regretted that he did not take advantage of the opportunity. Then, in 2019, he bought his first investment property, and a year and a half later he bought two more. Today they own 4 properties.

He said he didn’t consider his mistakes a failure. But an experience that has created a richer and happier life.