{"id":160855,"date":"2023-10-18T15:38:19","date_gmt":"2023-10-18T21:38:19","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=160855"},"modified":"2024-02-28T11:22:21","modified_gmt":"2024-02-28T18:22:21","slug":"pillars-of-wealth-preview","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/pillars-of-wealth-preview","title":{"rendered":"Sneak Peek: A Look Inside David Greene\u2019s New Book \u201cPillars of Wealth\u201d"},"content":{"rendered":"\n

Instant gratification is now engrained in our culture. Thanks to 5G, social media, and streaming, we can basically get what we want in just a few seconds.<\/span><\/p>\n\n\n\n

This is great for binge-watching TV or listening to music. When we\u2019re listening to the radio, my kids are always stunned when I tell them I can\u2019t just play their favorite song. But when you take this idea of fast returns or immediate success and add it to an investment strategy, it\u2019s a recipe for disaster.<\/span><\/p>\n\n\n\n

While I can\u2019t sit here and say none of these \u201cget-rich-quick\u201d ventures work, common sense and a little bit of research often prove what my mom always told me growing up: If it\u2019s too good to be true, it probably is.<\/span><\/p>\n\n\n\n

Because of this instant-gratification mindset, it seems more people are searching for shortcuts rather than doing the necessary work needed to reach their financial goals. Building wealth takes time and isn\u2019t always easy. <\/span><\/p>\n\n\n\n

David Greene, co-host of the BiggerPockets Real Estate podcast, shares his views on accumulating and managing wealth in his new book <\/span>Pillars of Wealth: How to Make, Save, and Invest Your Money to Achieve Financial Freedom<\/span><\/em>. Below is an excerpt from the book\u2019s introductory chapter, which challenges readers to rethink the idea of easy wealth growth and rather focus on sound strategies that are likely to be more successful in the long run.<\/span><\/p>\n\n\n\n

Excerpt From \u201cPillars of Wealth\u201d<\/span><\/h2>\n\n\n\n

My perspective on wealth-building isn\u2019t rooted in nebulous positive thinking or feel-good energy. It\u2019s rooted in patterns I\u2019ve observed in my forty years of life. It\u2019s rooted in the principles that govern how wealth is built, which is related more to the laws of physics than to emotional manipulation. This is why I equate the wealth journey to the fitness journey. The challenge isn\u2019t in wishful thinking; it\u2019s in acquiring knowledge and then applying it regularly.<\/span><\/em><\/p>\n\n\n\n

This book will guide you on your journey of accumulating wealth, including the principles that govern how it flows and to whom it flows. And that journey includes learning about real estate and the immense yet passive wealth it offers: Real estate has created more millionaires than any other asset class, which is why this book teaches you the power of real estate to build real wealth.<\/span><\/em><\/p>\n\n\n\n

In addition, I\u2019ll share information to help you avoid the schemes of financial predators. Warren Buffett\u2019s rule of investing is don\u2019t lose money. To lose what you\u2019ve built, especially to unscrupulous schemes, is not only financially but also emotionally debilitating. Imagine working hard to build your wealth only to lose it and have to startover from scratch. Would you do it all over again? Most wouldn\u2019t.<\/span><\/em><\/p>\n\n\n\n

Protecting the wealth you accumulate is equally as important as making the money, especially in the beginning of your journey when you\u2019ve yet to develop the skills that make earning wealth easier.<\/span><\/em><\/p>\n\n\n\n

There are so many people out there who want to take your money by pretending there are easy-peasy steps to build wealth. Every real estate guru, every real estate TV program, every real estate event that promises you\u2019ll earn wealth fast, easy, and without commitment is looking only to separate you from your money.<\/span><\/em><\/p>\n\n\n\n

Consider the workout equipment sold on TV in the 1990s and 2000s. Do you remember the ThighMaster, Ab Lounge, or Shake Weight? Their premises were all the same. \u201cWork out from the convenience of your own home! It\u2019s fast and easy! Simply use our product for ten minutes a day, and you\u2019ll get results in no time!\u201d Cue to the smiling woman doing half sit-ups with zero sweat on her face, then cut to the image of six-pack abs. The message was clear: We have the<\/span><\/em> hidden formula to avoid hard work, sweat, and pain. Give us your money and we\u2019ll provide the results.<\/span><\/em><\/p>\n\n\n\n

I\u2019ve yet to hear a success story from anyone who bought or used these machines. They mostly became dust collectors or makeshift clothes racks. Yet many units were sold. These companies found the formula to part a fool from their money: easy, fast, convenient!<\/span><\/em><\/p>\n\n\n\n

Now, contrast this to CrossFit. The results are undeniable\u2014I don\u2019t know anyone committed to attending CrossFit classes who doesn\u2019t eventually look significantly better than when they started. Why?<\/span><\/em><\/p>\n\n\n\n

Because CrossFit is physical hell. In fact, it\u2019s so difficult that CrossFit realized they had to create a culture of friendship and accountability to get people to stick with it. You have to be more concerned about the pain of missing class with others than the pain of attending it.<\/span><\/em><\/p>\n\n\n\n

And guess what? It worked. An entire culture was born, and people became fitter. The lesson here is simple: If you want results, you must commit to something difficult and change your habits. In CrossFit, that includes workout habits and eating habits. In wealth-building, that includes earning habits and spending habits. If you want more wealth than you have now, change what you\u2019re doing.<\/span><\/em><\/p>\n\n\n\n

So, I ask you, what about your relationship with money may be hurting you?<\/span><\/em><\/p>\n\n\n\n

Pillars of Wealth: How to Make, Save, and Invest Your Money to Achieve Financial Freedom<\/span><\/em>\u00a0is now available in the <\/span>BiggerPockets Store<\/span><\/a> and at booksellers nationwide.<\/span><\/p>\n\n\n\n

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A realistic guide to lasting wealth by David Greene<\/a><\/p>\n\n\n\n

In this book, David Greene provides a holistic approach to systematically make more money and watch it grow over time. You\u2019ll learn how to unlock your earning potential, adopt new budgeting systems, start your own business, and invest for constant growth so you can become wealthy the realistic way. <\/strong><\/p>\n\n\n\n

\n Get Your Copy<\/a>\n <\/div>\n\n <\/main>\n <\/div>\n\n
\n \n <\/div>\n <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Pillars of Wealth by David Greene attempts to reel in the instant gratification mindset and reset the approach to real estate back to its original form: long-term investing for long-term wealth. Here’s a sneak peak.<\/p>\n","protected":false},"author":613658,"featured_media":160859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7398],"tags":[],"class_list":["post-160855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/160855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613658"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=160855"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/160855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/160859"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=160855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=160855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=160855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}