The Top 5 Financial Books To Read
Charles “Tremendous” Jones once said the only two things that can change your life are the people you meet and the books you read. I can tell you that has certainly been true of my life.
At age 15 and bored, I sat in my bedroom one Sunday afternoon with only a book to pass the time. A book that opened my eyes to habits I was completely unaware of. The book’s promise was simple. If implemented properly, specific habits that could lead me to be financially independent over time. I visualized never having to work for money again, especially not another shift slinging hamburgers at a drive-thru. This bestselling book helped lay the foundation for my desire to learn about investing and becoming a good financial steward. Helping families with their finances began as an extension of this personal pursuit for financial wisdom and freedom, which I discovered in this book. I hope you and your family will be inspired and find financial independence from these books.
Top 5 Financial Books: From Beginner to Sophisticated
1. Rich Dad Poor Dad by Robert Kiyosaki– The first finance book that changed my life was this very book. It reads easily and the concepts are very simple to understand. Kiyosaki will inspire you to think of yourself as an owner, not a consumer.
2. Automatic Millionaire by David Bach – Bach’s book is focused on encouraging you to adopt small habits that can change your financial future. He encourages you to automate your financial practices and watch compound interest begin working for you.
3. The Richest Man in Babylon by George S. Clason – Clason’s book is on this list because, if you hate self-help books, this book was created for you. It reads more like a good novel. The book is all about ancient parables and Babylonian gold. There are plenty of gold nuggets of wisdom for you to learn in this book.
4. The Millionaire Next Door by Thomas Stanley – I still reread this book to this day. It glorifies frugality and showcases the habits of millionaires. The big takeaway from this book is that your personal finances should be looked upon as either offensive or defensive. Most people are consumed with income, but very few people are focused on saving. Beware though; this book can be a little dry with its ample use of statistics. But hey, some people love statistics.
5. Unconventional Success by David Swensen – My list of books has progressed from the easiest to the most meaty. I left one of my favorites for last. If you are looking for a financial degree without the four-year time commitment, then look no further. There are few financial books I agree with almost whole heartedly. Swensen’s approach to investing is time tested and a perfect approach for retirees.
Last year for Christmas, I gifted all of my nephews and nieces a copy of Rich Dad Poor Dad – with one large carrot inside. I wrote out a check for $100 and said, if you read this book and have the integrity to tell me that you read it and what you learned, I will sign this check. That $100 investment in the future generation is a small investment that could yield a huge harvest for their future.
I hope you will read these books and, more importantly, share them with your loved ones. I want to make this promise to you: If your children or grandchildren have any questions about their finances or if they want to get started on the path to saving for retirement, we will be here to help them. As you know, we exclusively help retirees with retirement planning. However, I have witnessed and experienced what it is like to get a head start financially, which is why we make this promise. Remember, birthday and Christmas gifts are appreciated but, sadly, most are temporary. The wisdom and experience you share with your family about how to manage their finances can create ripples for generations to come.