Kevin Price, Editor at Large for USA Business Radio, has long been an advocate of New Rich approaches to better and more profitable living. Recently, USABR took a look at his forthcoming book — Making “New Rich” Books Work for You — on why such literature has not worked for the vast majority of those who have read such books and how his book is different. His book points out the real reason “Rags to Riches” is not so easy, and offers hacks how to make these books actually work. He finds the “missing link” in New Rich literature.
Before we discuss Kevin Price’s new book, one should first look at the expression, “New Rich.” The expression was coined by Tim Ferriss, the author of the bestselling book The Four Hour Work Week. Over a million copies have been sold since its release in 2007. It has received both enormous praise and tremendous scorn. Ferriss says, “The New Rich (NR) are those who abandon the deferred-life plan and create luxury lifestyles in the present using the currency of the New Rich: time and mobility.” The objective is to create a lifestyle that empowers people to enjoy maximum freedom as well as a high income, and do it today. Learn more about Tim Ferriss and his work here.
The first thing you learn about Kevin Price is that he is a big fan of “New Rich” books. He has read most of the major ones and is friends with some of the icons of the New Rich movement. including Robert Kiyosaki, author of Rich Dad Poor Dad.
Robert Kiyosaki of Rich Dad Poor Dad fame says Kevin Price is “more than a talk show host, but an important economic educator.”
“I am a huge believer in the value of these books,” says Price. “New Rich books work. I know from my own personal experience.” However, Price says they only work in proportion to the effort and even “belief in the books” of the person who reads them. He says, “I read Rich Dad Poor Dad shortly after it came out in 1997, and I was hooked. I had the author on my show many times, and read Kiyosaki’s other books as quickly as they came out. I was particularly impressed with Cashflow Quadrant, one of my favorites in the New Rich space.” At the time, Price did not do anything to seriously implement Kiyosaki’s advice, however. He agreed with and believed in it, but he did not seriously apply it.
In 2007, Tim Ferriss published his pivotal book, The Four Hour Work Week. Price says that the book dramatically changed his thinking on the New Rich model. He knew instantly that the New Rich lifestyle was completely doable. In spite of this knowledge, Kevin still did not seriously pursue it for several years.
Price did not get serious about pursuing a New Rich lifestyle until 2016. He only began to entertain it seriously after falling ill in 2010. It took him well over a year to recover. “I lost so much financially during that time. I was completely and utterly unprepared. If I had put together a New Rich model, I would have lived off my businesses.” Still, Price did not pursue it until years later. He says, “I was stuck on the idea that I needed to “work” in the traditional sense of the word.” Price finally “broke down” and started implementing a New Rich, “Four Hour Work Week” lifestyle in 2016.
Price is largely at four hours for his primary business—four to six hours a week—but even that is still shrinking. “It will eventually be a four hour work month,” he says. What does he do with his extra time? He is creating other four hour work week models. Each of them will provide, when mature, six digit incomes annually and each of them will require considerable less than four hours a week in work. He has four additional businesses in development with one of them just months away from also generating six digits, based on current growth.
How has dramatically reducing his business life from around 50 hours to around 4 a week, worked? “Well, in February of 2016 I was still at 50 hours,” Price said. “In March, I jumped in both feet, dramatically reducing my work schedule. I was around 15 in no time and 6 to 8 shortly after. By the end of the year I was around 4 to 6. My income increased by over 60 percent in 2016. The more I got out of the way and created systems, the more money I made.”
Price has long believed that many of the New Rich books work, if the reader brings the willingness to make it happen. His book addresses why unwillingness exists and what to do about it. He has, in fact, identified one dozen reasons why such books do not work for some readers and he has developed solutions to them.
The book will be an ebook and is scheduled to be published in April. He would love to hear from individuals who have read books like Rich Dad Poor Dad and Four Hour Work Week, but have little to show for it financially.
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