The Wise Investor – Rich Fettke

July 5


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With the upcoming release of his new book, The Wise Investor: A Modern Parable about Creating Financial Freedom and Living Your Best Life, author Rich Fettke returns to the Investor Mindset podcast.  Joins Steven and Rich as they uncover his motivation for writing this book and how it will help inspire both current and future real estate investors to not only invest in assets but also in themselves. 

Key Takeaways

  1. 86% of people don’t make it past the second chapter of a nonfiction book, so Rich wrote a story with emotional information. 
  2. Assets are anything that brings you income, better health, more happiness, more time, etc, and liability is just the opposite.
  3. By meeting with your “future self” you can stimulate your reticular activating system to help for the opportunities, people and connections that will bring you closer to your vision of the future.
  4. Speaking to the HENRYs (High Earners Not Rich Yet) to understand the benefits of real estate investing to create financial freedom.
  5. Just three or four really deep breaths can have a transformational effect on your mind and confidence and quiet that inner “Gremlin” that is keeping you from moving forward. 
  6. Self-made success does not exist, you have to figure out the rules of the game and get the support you need to achieve. 

About our Guest:

Rich Fettke has helped thousands of entrepreneurs improve their businesses, grow their wealth, and live more fulfilling lives. He is the Co-CEO of RealWealth®, which, since 2003, has helped over 50,000 members improve their financial intelligence and acquire cash-flowing income properties.

Rich’s work has been featured in numerous magazines and newspapers including USA Today, the Wall Street Journal, and Entrepreneur Magazine. He has also been a guest on every major TV network and on dozens of radio shows including NPR and the Dr. Laura Sho. His diverse clientele includes IBM, Prudential, Century 21, Morgan Stanley and the United States Army.

The Wise Investor – Rich Fettke Transcription:

Steven Pesavento 00:05
This is the Investor Mindset podcast and I'm Steven Pesavento. For as long as I can remember, I've been obsessed with understanding how we can think better, how we can be better, and how we can do better. And each episode we explore lessons on motivation and mindset for the most successful real estate investors and entrepreneurs in the nation.

Steven Pesavento 00:27
Welcome back to the Investor Mindset podcast. I'm your host, Stephen Pesavento. And each week, we share mindset tips and real estate investing strategies to help you take your business and your investment portfolio to the next level. Today, I've got a friend of mine in the studio, rich Fettke. How're you doing today? Rich?

Rich Fettke 00:45
Good. Steven, good to be here. Thanks for having me back.

Steven Pesavento 00:48
Excited to be diving in with you. It's pretty exciting. Because you and your wife Kathy have been people that I've looked up to for quite a long, long time, I think you're living an incredible life, one that many other people can look up to as great models. And for those of you don't know, rich, prolific investor runs real wealth. A investment firm, helping investors get into real estate in a variety of different types of products. We are also the author of best seller, extreme success. And your newest book, The wise investor, which has been acclaimed by experts, such as Ken McElroy, Brandon Turner, Robert Kiyosaki, and many others. I'm super excited to dive into this, it sounds like you've really written you know, the next Rich Dad, Poor Dad of this decade. So

Rich Fettke 01:45
Wow, talk all about that. Thanks, man. Appreciate it.

Steven Pesavento 01:50
So I have a collection of different stories about how people get the grip of their financial freedom through investing. So my traditional question would be, how did you come to invest in real estate and what really led you down this path?

Rich Fettke 02:05
Yeah, and I mean, I think I may have shared this before with your listeners and viewers. But maybe not. It was, it was out of desperation. Honestly, it was back in 2003. I had this thriving coaching practice and amazing wife, two wonderful daughters. And I had a freshly signed book deal with Simon and Schuster. So I was on top of my game, feeling amazing, doing a book tour all over the country. And then I was diagnosed with melanoma, which is the most deadly form of skin cancer, and the doctor thought that it had spread to my liver. And I met with an oncologist after a series of tests. And he said, It really looks like you've got about six months to live. So it rocked my world rocked, Cathy's world, you know, with a 10 year old daughter, a three year old daughter, we just didn't know what we're going to do. And so Kathy got desperate. And she was thinking, what am I going to do to make ends meet if rich dies. And so she started to seek out a way to do that. And she found mentors who taught her about real estate investing. And thankfully, the doctor's diagnosis was wrong that melanoma had not spread to my liver. So after some surgeries to remove the melanoma, and after that three months scare of not knowing if I was going to be around, we started to invest in real estate ourselves. We went out to the Dallas area of Texas, north of Dallas and a place called Rockwall, Texas, and we bought five investment properties. And that was really what got us going on this path and showed us a new way to financial freedom that we had not even conceived of, you know, we will always think like, someday we're going to invest in real estate when we have enough money. And we didn't realize that about leverage. We didn't know about any of that stuff. But we learned it quickly. And then after that, we had some friends and family and Kathy had a small radio show in the San Francisco, San Francisco area. And people were asking us how we do it, how do you do it remotely and all that. So we decided to form a group of investors where we could help each other and support each other. And honestly, we thought it was gonna be a maybe 100 or 200 people. And now today, 19 years later, real wealth has become we have now over 64,000 members at real wealth that we've helped get into investment properties around the country and build their own financial freedom.

Steven Pesavento 04:26
Yeah, it's pretty incredible to see what you guys have been able to build, and what the result of that has been. And just how you've been able to introduce people to real estate who otherwise believed it wasn't possible for them. I think that's something that we we share that similar mission because at the end of the day, you know, having more freedom, flexibility and being able to have more fun is really the reason why all of us are getting into this space of investing and a lot of people just don't believe it's possible. So, you know, you've written this new book, The wise investor, you know, how have you been able to work Pastor your own fears, and be able to start to move in that direction of investing and talk, let's talk a little bit about some of the themes of the book and kind of what people will learn when they dive into this, this new novel.

Rich Fettke 05:15
Yeah, thanks for that. It's um, I'm really excited about this book, it's, I wanted to write a story because a story emotionalize information. There's so many great books out there on real estate, investing on finance, on personal growth and all that. But I heard a very interesting statistic, a shocking stat that 86% of people don't make it past the second chapter of a nonfiction book, it blew my mind. It was research done by Jim Collins team, who wrote Good to Great, and he was just amazed because he would talk to people and they would talk about his first chapter first, second chapter, he's like, I want to find out how many so they did this, this survey on it. So that was fascinating. So I wanted to write something that would be compelling that would not only emotionalize that information, but that would pull people into the story. And really write a really good story, that compelling story where it has follows the hero's journey and has you want to turn to pages. And it's it's really cool, because I've had several people say, reach out to me and say this, your book was fantastic. And I read it cover to cover on a flight or sitting out on my veranda or whatever it might be. And that's exactly what I wanted to set out to do. So the wise investor, it tells a story of this hard working family man, but he works so many hours, that he doesn't have time for his wife or his kids or even as a life. And then he meets this new friend and mentor who guides him and shows us this new path to financial freedom through real estate investing through business through growing a business through investing, investing in himself, investing in his relationships, investing in assets. And this guy, the protagonist ends up be becoming wealthy in more ways than he thought possible. Honestly, he just he didn't he didn't realize he didn't see the light. And you know, he was really in a corporate job. He was a W two employee, and working through that. He learns a lot of big powerful essence.

Steven Pesavento 07:16
Yeah, well, it sounds like you're really describing the experience that so many people in the United States experience today, this belief that if they go the traditional path, if they go and get a career, and they work in that career, and they dedicate that time, over, you know, 2030 4050 years, they're going to be able to retire and they're going to be in a really great place. But a lot of people aren't actually living the life that they want to live. So what are some of those key themes? I don't want to give anything away. But what are some of the, the three or four simple little steps or habits that people could implement in their daily routine, to finally move towards that end goal of financial freedom?

Rich Fettke 08:05
Been a big piece of it. And when I say emotionalized information, it's the it's the awareness. It's the shift in mindset that we all need that you and I have experienced. And just like that, when I thought I couldn't invest in real estate until I thought I had a certain amount of money or it was a Sunday. And just getting that first property is that big mindset shift. So some of those lessons the the mentor goes over, he talks about assets and liabilities. And he views them a little different than we see often or we're told about assets and liabilities. You know, it's I think Robert Kiyosaki did a great job in explaining that in Rich Dad, Poor Dad and Robert Kiyosaki actually wrote the foreword for the wise investor. I'm super stoked on that. And actually, he talks about that, that the power of the story and and how it communicates that way. So one of the things that mentor shares with Ryan Brooks, who is the protagonist in the story, is he looks at assets as anything that brings you income, or better health, or more happiness, or more time, that's looking at an asset that way and liability, just the opposite. A liability is something that costs you income, or better health or happiness or time. So you start to compartmentalize and be like, is this an asset? Is this a is this a liability? Is this person in my life and asset today add to my life, that it make things better? Or are they somewhat toxic? And how do they drain? Are they all about them? Are they are they a liability? So you start to look through anything through your relationships through something you might purchase or invest in. You can look at, say in your business you can look at is investing in this, like we hear about people are our greatest asset, right? In a business. We've heard that one. So it's just looking at it that way. It's like looking at those assets. And I see that because it's like it's like the golden goose that lays the The goose that lays the golden eggs, it just keeps providing, just like rental properties just like apartments, just, you know, just like self storage, any of that. But it also applies in business with people. You know, we're not creating financial freedom. And I think that is the problem with that. If I just work this hard job, I put in a lot of hours, I keep climbing the corporate ladder, someday I can retire when I'm 6570. You know, if that. But you know, you got to really step back and saying, Don't you want to live your best life now. So that's a lot of the message. And it's how can you live your best life now, while creating financial freedom for yourself. And so that's one of the huge themes that runs through it. And obviously, you know, the best way that this mentor describes is in real estate investing. So he kind of breaks it down. And he communicates these lessons about how to invest, how to save to invest, how to reduce his lifestyle expenses, so he can reduce those and have some more money left over to invest. And it basically goes over his life over five, five year period. So you get to learn the lessons with him and see where he ends up five years in the future.

Steven Pesavento 11:08
Hmm, that's beautiful. So a lot of people are experiencing this where they have a lot of liabilities in their life, that might be relationships, that might be debt, that might be some thing that they're purchasing. How do you recommend, from your own experience, that people take those steps towards removing those liabilities? Even when there's something that at one point they thought was really important to them? Whether that's a relationship or whether that's something else?

Rich Fettke 11:34
Yeah. Right. And so, again, I think it's exactly what you just said, it's like, it's a, almost a portfolio analysis of your life, it's like really stepping back and looking at life, you know, sometimes you look at a kind of a dead asset, you know, you're like, should I offload this, should I get rid of this asset should I sell it now is now the time to get rid of it. But I think it's looking at life that way, and stepping back and examining your life. So the mentor actually takes Ryan Brooks through this process of looking at the 10 major areas of his life, including finance, including his career, but also looking at his, his fun and recreation and his relationship and time with family. And he really starts to have him rate these areas of his life on a scale of zero to 10. And so the reader of the book can do the same thing, obviously. So I've resources in the back of the book, that guide the reader through the same type of thing. So that same process of analyzing your life stepping back and saying, how satisfied am I in this area of my life? And if it's not a 10, say it's an eight, or say it's a five, you could just, if it's a five, you're looking at that and say, Okay, what would it look like? If that were an eight? You know, what would have to be different for this area of my life to be an eight, or as a an area as an eight? It's like, what would it look like? If it were a 10? Start looking at that impossibility thinking? Right? You know, think everything was perfect? What would it look like? So often, we don't do that, or we don't take the time to do it. Because we're, we're so on the grind, we're so pushing to get the next thing done. You know, we have our email box filling up, we have so many things coming at us so much to do. But that is the problem. So it's stopping and slowing down. And isn't, this is what I learned as a coach. So before we started real wealth, I was a coach for 15 years, and I coach a lot of clients. And that's one of the things I noticed is that most people don't take the time or haven't taken the time to really step back and really look at their whole life and see what's working, what's not what they want to change what they want to improve, and get that clear vision for their future about where they want to go. So I've kind of wove that. Everything I've learned from the members of real wealth over the last 19 years, working with all our members and hearing their stories about where they were, what they did, and where they are. Now, I will have a lot of those stories and the financial intelligence into the story. And I tried to also weave in a lot of those coaching principles that I learned coaching people on all areas of their life,

Steven Pesavento 13:56
I hear a lot of that. And I really want to underline the importance of how intentional your your, your telling and sharing with people to be about all areas of their life, not just the investment side. Because one of the things I have talked to a lot of clients just like you at Vaughn Finch capital. And one of the things that I noticed is when I talk to folks, and they have a very clear, intentional reason why they're looking to invest, they're able to quickly decide whether something's actually going to help them get closer to that intentional vision they have or farther away, and the people who have the hardest time taking that leap. making those investments taking those steps investing in themselves are the people who are unclear about what it is that they're actually trying to solve for. And when people don't understand what they want and why they want it. And they don't understand where they're at currently, it's really difficult for them to start to actually create a plan of determining how they're going to get where they want to go. And I love this idea of kind of laying out this wheel of life mentality of kind of outlining these different areas and rating those areas. So that you can ask yourself the questions the same way you would do. If you're paying somebody 10s of 1000s of dollars a year to coach you, you can actually coach yourself through some of that process, in anticipation of either working directly with somebody who can help support you, or going out and kind of creating that vision. So I really liked what you outline there.

Rich Fettke 15:29
Yeah, that's I really tried to communicate that and I wanted to go, I didn't want it to be a book of theory, right? Just ideas, I wanted to have it to go from theory to practice. And so that's one of the ways that you can go from theory to practice another way. In the book, he talks about meeting his future self. And I think that's something that we can all do consistently, no matter how clear you think you are, I often will go into the future and meet my future self, which is, there's a process that you can go through actually one of the resources in the book in the back, it's free, you can go to this website, actually just share it with your readers, if you go to real, forward slash grow. That's the page for all the resources for the book. So once you buy the book, and you don't have to buy it, though, just go to, forward slash grow. And there's the notebook that the protagonist keeps throughout the story. So it's just all the lessons learned. There is a about a 10 minute future self visualization that I recorded, that kind of guides people through that process, I often do it in front of the room, when I'm speaking, I did it with all my coaching clients. And honestly, I do it with myself, probably probably like once a week, on average, I will actually, if I'm going to bed at night, I'll close my eyes, and I'll do this little mental journey. And I'll go into the future 510 20 years, and I will hook up and meet with my future self and say, Hey, what are you doing? I'll follow him around, I'll ask him questions, I'll get learn some lessons. And what that does is it sounds a little California woowoo. But I'm from California, so I gotta I gotta bring it right. But it's not what we're really doing is we're just tapping into our subconscious mind, like what we believe on a deep level, when we push that inner voice aside the negative voices and everything. And we're just looking at what does my compelling future vision look like? If I turn out to be my best self in the future, when I turn out to be my best self in the future? What does he look like? You know, how does he operate? What does he live with, you know, all that stuff. So it's this really cool process. And what that does is it helps us tap into which so many people are familiar with now that RAs, the reticular activating system, the part of the brain that filters out all the noise, and helps us really see what we want. And so by meeting your future self and seeing your future and getting some answers that way, then you come back to today. And all of a sudden, your antennas are extended, you know that reticular activating system is looking for things and opportunities and people and connections. And it's just like, oh, that fits in perfect into my future. That's what I need. And until it kind of keeps us aware. And we can actually put it into practice.

Steven Pesavento 18:05
That's such a great strategy for being able to tap into what's really being thought below the surface. Because sometimes it can be very difficult to get clear on your vision to check in to understand whether you are making the right decisions or going in the right direction. When you consciously try to make those decisions, that can be very logical, you can believe that you're doing the right thing. But by actually going through that process, it sounds like you tap into that intuition inside of that part of you, who just knows what is actually best for you, and you can guide that future some of those steps that you're going to take.

Rich Fettke 18:41
Yeah, you know, the brain doesn't really know that much different from what we envision and what we dream, then reality, which is really cool. So you start laying down new neural pathways from neuron to neuron, and they get stronger and stronger, and you actually start to believe it and you start to see it, and you start to act as if you are your future self. So it's a really powerful tool. You know, I use it like before I go up to give a keynote, if I'm going to, and even coaching clients in the past, it would be like they're about to give an important sales presentation or even ask someone out for a date or something like that. Actually imagining that you are your future self. You're like, oh, okay, this is me. Five years in the future, how would I show up? How would I be, and it changes us inside and it changes our whole neural network, and we start to become that future self. So it takes practice and it takes consistency, but it pays off. I love that.

Steven Pesavento 19:37
So some getting really clear on this idea of what it is you want intentionally, then actually checking in with visualization of your future self and tapping into that intuition creating some new identity work. What's one more strategy or lesson that that is shared with within this book that somebody could take in, and one run with, right, right now today?

Rich Fettke 20:06
Well, I mean, I shared a lot about the mindset piece of it kind of personal growth, becoming your best self and all that stuff. You know, and I think that's very important. But there's a lot of nuts and bolts information. They're not like a, you know, it's like you can, you can get so much information now there's so much available to learn if you want to learn about multifamily investing, if you want to learn about single family investing, if you want any of these types of things you can you can learn about financial management running a business. And I also wove some of those key principles in about, like, the protagonist, wife runs a business, it's small in the beginning, and she learned some real key things about growing her business, how to free up your time from hiring the right people, how to be a better leader, and but it also goes into the benefits of real estate investing, really, the mentor compares, investing in real estate taking, like taking $100,000 in investing in real estate 100,000 investing in the stock market and 100,000 Investing in in gold, and he kind of walks the protagonist through and he's like, Okay, if looking at the same rate of return over the same period of time, here's where you'll be in the future. And you get to see the difference in those different asset classes. And you can really see, it's like, whoa, okay, real estate really makes sense. And that's, I wanted to communicate that not so much for us real estate investors, it's kind of like singing to the choir, right preaching to the choir. We, we know it, we know that, you know, real estate, that you could benefit from appreciation and through tax, you know, tax benefits through depreciation, through amortization. You know, it's like so many different things and hedge against inflation. We know that I think a lot of people aren't aware of that. So a lot of the book, I wanted to communicate and speak to kind of the Henry's Have you heard that, that it's high earners, not rich yet. And there's a lot of people out there and a lot of people who come to real wealth originally, they come in, and they are that they're making a good six figure income, they are maxing out their 401 K's, they're in mutual funds, or, you know, or into individual stocks, or in Robin Hood, whatever they're doing, to try to build their wealth. And they don't realize all these benefits of how real estate investing truly is the best way to create financial freedom. It's just known hands down, there's no doubt about it.

Steven Pesavento 22:31
Well, you're speaking to the choir here. And I know a lot of our listeners are believers. But there is always those folks who are new to this topic. Maybe this is the first book that they're going to be looking at when it comes to investing. Talk to me from your personal experience of talking with and working with 1000s of people and your work around the mindset understanding how to shift and change beliefs. What do you say to those folks who are fearful, who are uncertain Who are they feel like they aren't sure about how to get started and take those steps. Yet they know that they need to do it. They know that there's an opportunity, they know all of these things, but yet they still feel stuck where they're at right now.

Rich Fettke 23:15
Yeah, and that's what I'm hoping I'm hoping some of us the choir, right? That that they go out and you know, read it as an entertaining read. And kind of like Zig Ziglar said, you know, he said, some people say that motivation doesn't last, but neither does bathing. That's why we recommend it on a regular basis. Right? So it's the same type of thing. I think it's just having a compelling read where you're like, oh, yeah, I'm doing the right thing. I'm doing the it's gonna get me there someday. So that, but it's, I think the biggest thing, obviously, is that just like you said, it's the fear. It's the resistance. And that was my that was my focus as a coach is coaching people through that fear. As you know, I'm an adventure athlete, I love to rock climb, and surf and skydive and do all these super fun things. But there's an element of fear in there and fear management. And so I get obsessed with learning about how to deal with fear and how our brain processes fear. And it's the same for all of us, you know, we all have that little voice in our head, that tells us things from our past tells us are not enough, or you're going to fail if you invest because look at your parents lost money, or your friends invested and look what happened to them in 2008. And they try to make today the same as back then even though it's not. And so it's identifying that little voice in your head. Sometimes it's big voice, sometimes it's a whole bunch of voices, right? And it's that whole that's that itty bitty shitty committee inside our head, it's tells us you're gonna fail, you suck all this stuff. So the best way to deal with that inner Gremlin is to just notice it, because it's really powerful when it's in the dark. It's pulling the strings, you know, it's the puppeteer. And it's really trying to protect us and you know, we're born with that. little gremlin in our head to protect us keep us safe from some failure from harm from ridicule, and embarrassment, all that stuff. So that little gremlin, it's really not a bad guy. It's doing its best to protect us. But what it often does is over protect us. And it keeps us stuck, it keeps us tells us stories that keep us from moving ahead. So, you know, I think the best way to do it really is start with your physiology is a couple of really deep breaths, if you notice that you're stressing out, or you notice that fear, you're a little shaky or clenching your jaw, it could be any type of physical sign, you might be getting a little snappy at the people you care about, you might just feel down, I think it's really good to just slow down and you take a couple really deep breaths into your belly, and then you exhale. And then what happens is we're stimulating on a physiological level are stimulating that vagus nerve that runs from the brain all the way down to the gut. And that diaphragm stimulates that vagus nerve that affects the prefrontal cortex of the brain. That increases our heart rate variability, which helps us feel more calm, more grounded, more confident. So I think it's starting with that no matter what it is, if you're feeling nervous before, before you give a speech, that deep breathing, just three or four really deep breaths, can have a transformational effect on your mind and on your confidence. So it's starting with the breath. And then it's just checking in with that that Gremlin just saying, okay, Gremlin. Sounds like you got something to say here, what's going on? What do you need from me right now. And you just wait, you just wait for it. And it's amazing, because it just like that future self visualization, we are just tapping into the subconscious. And when you quiet down like that, your subconscious will say, this is what I'm afraid of. This is what my concern is, this is what I need from you, I need you to get more information, I need you to learn this, or I need you to get a mentor who's going to help hold your hand or guide you. I need you to read a book on this and learn more. I had a teacher who once said, The best way to to avoid fear is to be so well prepared that there's little chance of failure. So you got to put a limit on it. You know if that grandma is always saying you need to learn more, you need to take more courses, you need to sign up for more boot camps and stuff. It's like you got to you got to keep it in check. But just checking in and saying, okay, okay, inner voice and Okay, fear. Okay, Gremlin, what do you need from me right now. So I can move forward toward this goal. This is what I want. What do you need from me so that I can move forward. And it's, it's kind of mind blowing? Really, it sounds a little woowoo sounds a little weird. But it's amazing what when those answers start to come up. And then you can move forward. And you can do it with confidence and with clarity. And without that Gremlin trying to put almost an invisible block in front of you. Well, there's a beautiful

Steven Pesavento 27:55
power that you create, and you have within yourself when you start to become aware. And you start noticing, and you start being able to see these feelings, these thoughts, these beliefs, these emotions that are coming up, and you're able to then identify them for what they really are, they still might have control initially, but over time, they start to loosen that grip. And eventually, just like everything else that was once new, you start to feel more comfortable. And that fear starts to subside, what I find is a lot of people when things are new, there's a lot of fear, because there's all these stories that they hear, like you're saying about other people having bad experiences, or maybe they can connect it to a time that they lost money or made the wrong decision. And that internal fear can really get in the way. But it's when you can go and find other examples of people who are succeeding and have succeeded. And you can start to build that trust in yourself to make that decision, but also, in the individuals that you're going to move forward with. That's absolutely key.

Rich Fettke 29:04
100% Yeah, you know, I don't want to be one of those authors or speakers who says like, you know, take my advice, because I'm not using it. I really want to be someone who walks the talk. And I've applied this to my life. I've seen it work. I know, I've got a lot to grow. I'm not as wise as the mentor in the story, I hope to be someday like him. But it's I've applied this to myself and it it takes practice. And one thing I've seen with the members of real wealth and friends and investors, you need people like you and so many of these like like Brandon Turner and Ken McElroy you mentioned earlier, these guys, you know, they've gone through the same thing. They have the same limiting beliefs. And so it takes constant practice and you hear people say no, I don't mean I don't want to focus on that. I don't want to focus on me and me getting better. I just want to learn this. I want to get out there I want to invest, but you can read all the stuff you want and take as many courses you want and do all that stuff. If you don't get your your brain right if you don't get your mind right You never gonna get there. It's I've seen it over and over and over, I've seen it with myself. And you know, I was diagnosed learning disabled when I was a kid. And I was put in special classes for the learning disabled. So I pretty powerful Gremlin is still do that says, you know, rich, you're stupid, you're never going to amount to anything. So I've had to practice that consistently. So we all have our limiting beliefs, getting clear and getting those out in the open and shine the light on him. So that we can move forward and keep, you know, keep making it happen. And then you go from there, and you just keep learning and keep growing and keep getting better. And the better we get, the better life gets.

Steven Pesavento 30:34
You can't build a skyscraper on a terrible foundation. So you've really got to get that mindset in place. And there's something that's in the foreword of your book that Robert Kiyosaki wrote that people chase money in a financial system that's not set up for you to win. So in other words, the classical approach about studying hard going to college and plowing through work, to live for retirement, you know, so you can finally have that financial future isn't really reality for most people. So what do you think people should understand about investments and the financial system in general, in order to really start making some positive progress towards those, those visions and goals that they have?

Rich Fettke 31:17
And, you know, you hear a lot of this nowadays, that complaints about the wealthy or the rich, you know, and it's like, it's not fair and all that. But I know, a lot of these people I know, came from being really broke. And there, they really made themselves and they're not self made, they've gotten help, they've gotten support and all that, and I don't believe in self made success. But they came from a place where they didn't have the money. And now they're extremely wealthy in so many ways, and they give back and all that. So there's a piece in there that really, it's it's looking at it stepping back and looking at the system and saying, Okay, if this is a game, what are the rules, and so you can you can bet about it and complain about it and say this isn't fair and everything, or you can say, Okay, I'm going to figure out this game, I'm going to understand the rules, I'm going to understand how this, I can make this work. And then when you make that commitment, life really changes and then you're able to go give back, we've we're almost at a million dollars that we've been able to donate through real wealth through charities, because we donate 10% of our profits through real estate transactions to charities that make a difference in the world. And Habitat for Humanity, Operation Smile, mentors, International. It's so fulfilling. And that's the way that's what i The truly wealthy people that I know. They're the ones who are making the biggest difference in the world. They're providing jobs, they're providing good affordable housing, they're, they're donating, they're giving back. And because then they have freedom, they have freedom to spend time with the people they care about. And they have freedom to give back to the world. So it's yeah, getting caught in the get a good job, you know, get a good education, get a good job, and work for the man. And then someday, hopefully, you can retire and live your lifestyle. It's it's old thinking, honestly, it's an old way of thinking.

Steven Pesavento 33:07
It's old thinking and instead of complaining about how other people have it better. Instead, we can look at how those other people got, where they got, what are those things that they're doing, and we can use those strategies ourselves to actually be able to move in that direction. Well, this has been just, it's, it's been a true pleasure, rich, being able to dive in with you. And I'm really excited that you put this book together for the world I, I really, truly believe in the values that you're sharing, and I highly encourage people to go out and buy a copy. It's gonna be dropping in bookstores very soon. So Rich, where can people find a copy? Where's the best place for them to to order and get a copy for themselves?

Rich Fettke 33:53
Sure, yeah. Let's see I hold the book cover up so it can recognize it. But it's, it's on Amazon as a Kindle version right now it's coming out as a hardcover and, and the audiobook, which I narrated and it's a fun challenge narrating 10 different characters, including the women in the story. But it's, so the audiobook and the hardcover will be out next month. And but the ebook is already available. And it's been actually it's came out two months ago. And it's been on the top 100 lists ranging from number two to you know, it kind of goes up and down in there, but ever since so I'm super grateful for that. I'm really, really thrilled with the response to this story. I'm really happy with it. So anyway, Amazon is definitely the best place and the easiest place to to buy the book or preorder the hardcover.

Steven Pesavento 34:41
Well, guys, thanks for listening. Thanks for joining us for another episode of the investor mindset podcast, grab a copy of the wise investor and dive into a great story that can inspire you to create some financial freedom for yourself. Thanks Rich for joining us and you have a beautiful day.

Rich Fettke 34:59
Thanks so much.

Steven Pesavento 35:04
Thank you for listening to the investor mindset podcast. If you like what you heard, make sure to rate review, subscribe and share with a friend. Head over to the to join the insider Club, where we share tools and strategies from the top investors and entrepreneurs and how to take it to the next level.



Connections, Definition of Success, Emotional Information, Investing, Investing Mindset, Mentors, Mindset, Passive Investing, Real Estate, Real Estate Investing, The Wise Investor

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