Top 5 Financial Books
If you look almost anywhere, every self-made successful person will preach that self-education is key to their success in whatever field in their life. For a teen, I read a lot, sometimes almost a hour and a half a day and I’ve read many self-help books, where every one is full of something I didn’t know before. Reading gives you the advantage over everyone else in the business and through picking through people recommend, these are my five favorite self-help/financial books that have helped me on my journey.
1. Rich Dad Poor Dad, by Robert T. Kiyosaki
This is a book stocked full of goodies. The biggest asset I took from this book was the mindset change it pushes for you to receive. The book shows you that one of the biggest factors for your lack of wealth is your mindset. People can be making 100,000 dollars a year in income and still lack or not be satisfied with their wealth where someone who has a rich man's mindset could be making 80,000 dollars and have that growing each year and be making them even more money. Your mindset is the first step to changing and acquiring riches. Another big-ticket item I took from this book was its a representation of the cash flow charts comparison between the poor and middle class to the rich and wealthy. Another great perk of this book was that for the amount of knowledge it provided for its price of 10.99 on Amazon. Overall a great first step and book to becoming financially literate.
2. Think And Grow Rich, by Napoleon Hill
After reading Rich Dad Poor Dad, I would recommend this book as your second choice on your book list. Another book stock full of wonders, this book focuses on turning your dreams into reality and focusing your subconscious mind on building your dream. At first, I was hesitant to follow and do what the book instructed, in fear it wouldn’t work, but after a while I did see results form. Another big concept that's taught is that any dream, back by a burning desire can be made true. Napoleon shows us how powerful desire can be and why it's a leading factor in becoming wealthy. One of my favorite quotes also comes from this book, “Whatever the mind can believe, the body can achieve”. Very powerful words that are equally powerful in life. Another great perk of this book is that it only costs 8.99 on Amazon, a small price for golden lessons.
3. The Richest Man In Babylon, by George Samuel Clason
You can be making tons of money, but if you don’t know how to keep it, your going to end up back at zero. This is where The Richest Man In Babylon comes in. The main purpose of this book is to teach you how to keep your money and have that money work for you. From explaining how luck can affect your building of wealth, to recommending how much money you should live off, this book is packed with gold nuggets. Like the other 2 books, you can pick this book up for less than ten bucks on Amazon.
4. The Intelligent Investor by Benjamin Graham
This is a goldmine of a book. If you are wanting to look for a book that teaches you to have to maximize your profits with minimal risk, look no further. This book is recommended by Warren Buffett, who states that it's the best book ever written on investing, which is completely true. From showing you the difference between speculation and intelligent investing to giving you the formula to properly evaluating a company's stock price, it's all there. Graham goes to show that the biggest risks most investors face aren’t the market, but you. If you can learn to control your impulse to sell and fear of losing money, you’re already on track to doing well. This book is a little on the pricier side, upwards of 31 dollars on Amazon, but if your willing to want to learn how to utilize this branch of investments, its worth its weight in gold.
5. The Snowball: Warren Buffett and the Business of Life by Alice Schroeder
Last but not least, we have the book on The Oracle Of Omaha himself, Warren Buffet. This book is a little different than the last 4 self-help financial books listed above, as this is a biography instead. Don’t let that discourage you, because it's still packed with equal value lessons. The booklets you walk in the shoes of Warren from his childhood, where he bought his first stock, to his middle-age years where he finds and buys Berkshire, all the way to the present day. All throughout the book, you get to experience first hand Warren’s thinking and genius as he builds his stock empire. Success leaves trails and there's no better place to start than here. Just like with The Intelligent Investor, this book is up there in price, around 26 dollars on Amazon, but it is a price well paid for an inside view on the world's leading investor.
There you have it, my top 5 financial books. Each of these books has helped me in my life and with my finances and the beauty of books is that the knowledge I gained from them, will always be in my head. And if I do, I can always reread them. Reading and building knowledge is the first step to changing your mindset and building your wealth, and the best part is it’s super easy to start.