Want to be Wealthy? Read These 6 Books
Reading not only brings you a wealth of information but also financial wealth in the literal sense of the word. If you’re not friends with the richest people of the world, the next best thing would be knowing their get-rich-secrets through the books they wrote or read. It’s like getting a highly credible mentor at the cost for only a couple of dollars.
If you want to know the path to having a fat bank account, you should read the following books.
1. Secrets of the Millionaire Mind
Author T. Harv Eker himself is a multimillionaire, which lends this book a lot of credibilities. He said that your financial state is what you think: if you have this poverty mindset, you’re likely to be one. But if you think like a rich person, you’re already one. This dynamic is contagious too, in that it can be transferred to your own children.
More than anything, Eker counsels his reader on changing attitudes as this is also as important as financial literacy on the road to wealth generation.
2. Think and Grow Rich
This is a classic book written by Napoleon Hill in the 1930s. This book is a result of Hill’s interviews with philanthropists and millionaires, leading to the idea that greed can be “good” as long as it’s with the intention of sharing your resources.
3. The Richest Man in Babylon
Written by George S. Clason in the 1920s in the style of biblical parables, this personal finance tome beams the spotlight on saving rather than spending. It also underlines the fact that giving charitably still remains a must, as long as it doesn’t make the recipient dependent upon your benevolence. It has since become one of the go-to references by investors over the decades.
4. Screw It, Let’s Do It: Lessons in Life
Sure, Richard Branson came from a well-to-do family but he built his business empire on the back of his own efforts. He has his own share of mistakes and hiccups (he’s not afraid of taking risks, obviously), but he amazingly managed to turn things around and made Virgin a global brand, with him as its face. This funny and engaging, not to mention inspiring, book details the lessons Branson has learned and has plenty of advice for those seeking to launch their own businesses and lead the good life.
5. The Little Book of Common Sense Investing
Written by John C. Bogle in 2007, the book gives special focus on index funds, which the author used in building his own company. Bogle, Vanguard Group founder, and former CEO writes that buying and holding all the country’s public business at a very low cost is the “simplest and most efficient investment strategy” that one could use. He also talks about overcoming the impact of inflation, investment costs, and taxes. He also covers compounding returns in relation to compounding costs. Further, he shares the views of other revered moneymakers on index investing.
6. The Essays of Warren Buffett: Lessons for Corporate America
This book is basically a compilation of the letters the Oracle of Omaha sent to Berkshire Hathaway shareholders. These pieces are categorized by Lawrence Cunningham into themes for easy reference, making it a unique compendium that offers valuable, in-depth insights about investing and finance. Buffet’s own personal views on various aspects of wealth building also give this book a certain distinction that makes it a fantastic resource for those seeking wise yet easily digestible advice about money matters.
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