Which are the best books for improving your financial literacy and making you richer? Glad you asked! This post takes a look at some of the books you can read to dramatically improve your finances and get on the path to wealth. Here’s what you should be reading:-
The Millionaire Next Door By Thomas Stanley And William Danko
The Millionaire Next Door chronicles the surprising behavior of many of the world’s wealthiest people. Along the way, it discovers that the activities that we mostly associate with wealth might actually be wrong. We have a notion that being exceptionally rich means working hard and spending 120 hours a week in the office. But The Millionaire Next Door tramples on that myth by pointing out what actually happens in the real world.
Think And Grow Rich By Napoleon Hill
Napoleon Hill was one of the first people to ever get into the self-help space. When he started, it was right at the start of the category, and nobody had any idea where his book fit into the whole scheme of things. Even so, that didn’t prevent it from becoming popular. Think and Grow Rich showed people the psychological side of making a lot of money and being successful. It revealed how changing one’s thoughts and mindset could lead to wild returns, often beyond many people’s wildest dreams. Traits like persistence, faith, and imagination are the most valuable currency to Hill and the foundational reason why some people succeed while others don’t.
Rich Dad, Poor Dad By Robert Kiyosaki
Robert Kiyosaki is the author of Rich Day, Poor Dad, one of the most successful self-help finance books of all time. It teaches people the different paradigms that structure how some individuals think about money compared to others. Some have a “work hard” mindset, while others have a “work smart” mindset. Rich people, Kiyosaki points out, aren’t any more intelligent than regular individuals. It’s just that they have different approaches to their personal finances, and these small differences in behaviors and outlooks have outsized effects on how their lives develop.
You can organizations like BuyAssociation attempting to enlighten their website visitors in the same way. They want people to understand how a simple shift in thinking can open up possibilities and make incredible things happen.
The Intelligent Investor By Benjamin Graham
Before Warren Buffett, there was Benjamin Graham, one of the forefathers of the modern value investing movement. Graham said that investors should look for underpriced assets that will grow more than the market rate in the future. Buffett used this strategy to help him average an annual rate of return two to three times the market average for several decades, growing himself a tremendous fortune in the process.
Many people regard The Intelligent Investor as the bible of value investing, including Buffett himself. It’s a short, simple read and doesn’t require a great deal of technical knowledge. However, it will have a powerful effect on how you think about money and the investment decisions you make.
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