The Top Five Books to Become Wealthy
Here are the top 5 books to help you become smarter with your money and grow your wealth. We’ve read through all of these (and more!) to figure out what will be the most helpful for you. Read this to one day become wealthy like Jamie Dimon or Bob Iger.
1. Robert Kiyosaki’s, "Rich Dad Poor Dad": This is an absolute must-read for anyone that’s looking to get a better handle of their finances. If you haven’t read this one already, you are absolutely missing out. This book will help you learn about important concepts such as compound investing, and also how to create wealth through the stock market as well as through other types of investments such as real estate. Since it was first published, the book has been translated into 40 countries and languages and has sold more than 32 million copies, helping people all over the world grow more wealthy.
2. Thomas Stanley and William Danko’s, "The Millionaire Next Door" : What habits and traits make successful investors who can grow their wealth? This book teaches practical advice for creating wealth such as living beneath one’s means amd keeping a record of one’s expenses (budgeting is very powerful!)
3. Benjamin Graham, "The Intelligent Investor": Originally published in 1949, Graham’s book is the quintessential book on investing and growing wealth. Graham is known today as the Father of Value-Investing. This book is an absolute classic (and even Warren Buffett, the legendary Oracle of Omaha, counts Graham as having taught HIM how to invest. Imagine being the one to teach Warren buffet, the best investor of the last several decades, how to invest!) and is a MUST to read if you really want to understand investing in the stock market. After reading this book, you’ll learn how to fundamental understand companies, stocks, and assets in general (price and value, for one, are not the same thing; and the psychological and mental preparedness you have to be to be a good investor and to grow your wealth).
4. Dave Ramsey’s, "The Total Money Makeover": Everyone knows Dave Ramsey–the modern day dad for all of us who teaches us how to get rid of debt. Remember, you can’t build wealth if you owe others money. So, get this book right away.
5. Vicki Robin & Joe Dominguez’s, “Your Money or Your Life": While many books on wealth and money tend to look at money as separately from one’s life, this book thinks of everything holistically and through an integrated approach. Money is a part of one’s life, just like family, dating, relationships, stgruggles and success. This book seeks to help you first develop a better relationship with money and create a perspective and paradigm shift (instead of constantly chasing it and thinking of it as an adversarial thing that is so elusive, and instead turning money into a harmonious partner with yourself!)
Money and wealth doesn’t grow on trees, and certainly not one specific book can guarantee you become wealthy. However, reading these books will help you develop a much better relationship with money, as well as learn specific skills (such as investing, reducing debt, budgeting) that will overtime—if implemented consistently—help you become wealthy.
So which of these books have you read already, or new one will you pick up?
On another note, don’t hoard this knowledge for yourself. Share with your friends and family that this list could be helpful to!
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