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.
“An investment in knowledge pays the best interest.” – Benjamin Franklin
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 a “poverty mindset,” you’re likely to be poor. 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 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.
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. The interviews led to the idea that greed can be “good” as long as it’s with the intention of sharing your resources.
The Richest Man in Babylon
George S. Clason wrote this book 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. However, philanthropy should not make the recipient “dependent” upon your benevolence. It has since become one of the “go-to references” by investors over the decades.
Screw It, Let’s Do It: Lessons in Life
For sure, although Richard Branson came from a well-to-do family, he built his business empire on the back of his efforts. He had his own share of mistakes and hiccups (he’s not afraid of taking risks, apparently).
However, he amazingly managed to turn things around; he 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. It has plenty of advice for those seeking to launch their own businesses and lead the good life.
The Little Book of Common Sense Investing
Written by John C. Bogle in 2007, the book gives particular focus on index funds. The author used index funds to build his own company. Bogle, the 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.” He also talks about overcoming the impact of inflation, investment costs, and taxes. Bogle also covers compounding returns with regard to compounding costs. Further, he shares the views of other revered moneymakers on index investing.
The Essays of Warren Buffett: Lessons for Corporate America
This book is a compilation of the letters the “Oracle of Omaha” sent to Berkshire Hathaway shareholders. Lawrence Cunningham categorizes these pieces into themes for easy reference. Thus, he makes 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.