The Best Books on Money, Ever
Whether you are Warren Buffett or just a newbie creating your first brokerage account on E*Trade, reading investment and money books is a must! If I've learned one thing over the years, it's that there is always room to learn. Investing can be a daunting task, but it doesn't have to be. All it takes is reading and learning new words, phrases, strategies, etc. Although websites such as the Motley Fool are very useful, I believe reading investment books is the number one way you can learn about investing and money.
Simply put, you won't get rich without investing, and you won't learn how to invest without reading (and patience!)
Here are my top 5 books on investing of all-time. They have absolutely changed the way I think about money. I hope these books can help you not only become a better investor, but change your views on money:
5)A Million Bucks By 30 - By Alan Corey.
Credit: Amazon.comHow can a 20-something, average Joe who makes $40k a year, has no special talents...become a millionaire in less than 10 years? The answers are between the pages, my friends! Mr. Corey's book was one of the first I've read on personal finance. It shows you that ANYBODY in this country can become a millionaire with a little persistance and effort. I love this book because of how he gives you an update on his finances every year (he posts his goals with his finances and tracks his path along the way to making a million).
If you get one thing out of this book, it should be that living below your means is VERY imporant if you want to build your net worth, especially early on in life. *You must also put yourself in the position to be "lucky." Lady luck only rewards those who are kind to her! If you're in your twenties this is a MUST read, plain and simple.
MJ DeMarco is the former founder and CEO of Limos.com (1997-2007), and a multimillionaire entrepreneur, author, and the revolutionary "get rich slow" anti-guru.
This book simply amazed me from start to finish. Even though there have been many investment Credit: Amazon.combooks released over the years, The Millionaire Fastlane manages to keep the topics very fresh. Although similiar to Rich Dad Poor Dad in some ways, the Millionaire Fastlane STILL manages to keep its material fresh and thought-provoking, yet easy to comprehend for the new investor. As one Amazon reader pointed out, although the book isn't exactly revolutionary, it is EVOLUTIONARY!
This is a new entry to my list as I only recently read this two weeks ago. I wouldn't be here at InfoBarrel if it wasn't for this book, either, as I learned about the site on his Facebook page. Give this book a read and thank me later.
3) The Richest Man in Babylon - By George S. Clason.
I think it's amazing that this book was written nearly 90 years ago, yet the lessons of money/wealth Credit: Amazon.comit teaches have NOT changed! The book is sased on the famous "Babylonian principles."
Read this book to learn more on the "secrets" to "acquiring money, keeping money, and making money earn more money." There is quite simply to many good things to say about this book. It's wisdom is timeless! A must read.
2) The Millionaire Next Door - By Thomas Stanley and William Danko.
Have you heard the phrase, "nothing is what is seems?" Well, it's true. There are many people out there with huge houses, 5-6 cars, boats, etc. Yet they could are poor! Zero net worth! Living below your means and investing over time is a proven method to building wealth, period. Buy assets, not liabilities. This book will really open up the way you think about wealth, money and investing.
And onto numero uno...
1) Rich Dad, Poor Dad - By Robert Kiyosaki - Kiyosaki is considered a controversial figure but I can never understand why. The best things I learned from this book are the beauty of passive income, the importance of investing in assets and not liabilities, and cash flow.
*The poor buy liabilities they think are assets... the rich buy assets that pay off their liabilities*
Did you know there is more than one type of "income"? I used to think job=income like everyone else. Work harder and make more money from your job and you'll get out of the rat race. But there are other forms of income such as passive, portfolio, etc.
Last year I made nearly as much money from my investments, than from my 9-5 job. I don't think I would have done that if it wasn't for this book, which inspired me to start investing. If you are new to investing and personal finance this is probably the book for you. It changed my life and I think it can change yours, too. Don't believe the negativity out there, that's it's not a "how-to" book. It was never supposed to be! What it is, is pure inspiration.
If you are new to investing and finance you will learn a ton from this book, I guarentee it. I literally owe everything to this book because it sparked my interest in investing and opened my mind up to new ideas and possibilities!
Did I leave any of your favorite investing and money books out? Comment below.
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