Books which can help to create Wealth

1. Rich Dad Poor Dad by Robert T. Kiyosaki

The Book in One Sentence Rich Dad Poor Dad tells the story of a boy with two fathers, one rich, one poor, to help you develop the mindset and financial knowledge you need to build a life of wealth and freedom. 

Key Takeaways 1. Use your money to acquire assets, not liabilities.

2. Manage risks instead of avoiding them. 

3. Work to learn, not to earn. 

2. Money: Master The Game by Tony Robbins 

The Book in One Sentence Money: Master The Game lays out seven simple steps to financial freedom, based on the advice of the world’s best billionaire investors, interviewed by Tony Robbins.

Key Takeaways 

1. Never underestimate the exponential power of compounding interest. 2. Pick one of three financial goals to show yourself that financial freedom is within reach: basic expenses, basic + fun, or financial independence.

3. Diversify your investments by using a 3-bucket system: A security bucket, a growth bucket, and a dream bucket.

3. The Barefoot Investor by Scott Pape

The Book in One Sentence The Barefoot Investor is an Australian farm boy’s no-BS guide to taking charge of your personal finances with a simple system to eliminate debt, live in the now, and still retire in peace. Key Takeaways 

1. Simplify your money management by using different bank accounts. 

2. Shred your credit cards first, then start paying off your debt. 

3. Automate some of your retirement planning with index funds. 

4. The One-Page Financial Plan by Carl Richards 

The Book in One Sentence The One-Page Financial Plan makes financial planning stop feeling like a burden for the less disciplined by helping you plan your entire financial future on a single page.

Key Takeaways 

1. Set some goals but stay flexible and fine-tune along the way. 

2. Turn budgeting into a game to make saving fun. 

3. View paying off debt as an investment in your future. 

5. The Intelligent Investor by Benjamin Graham.

The Book in One Sentence The Intelligent Investor explains value investing, which is focused on generating steady, long-term profits by ignoring the current market and picking companies with high intrinsic value. 

Key Takeaways

1. There are 3 principles to intelligent investing: analyze for the long term, protect yourself from losses, and don’t go for crazy profits. 

2. Never trust Mr. Market, he can be very irrational in the short and medium term.

3. Stick to a strict formula by which you make all your investments, and you’ll do fine. 

6. The Little Book That Beats The Market by Joel Greenblatt

The Book in One Sentence The Little Book That (Still) Beats The Market is a step-by-step tutorial to implement a simple, mathematical formula when buying stocks which guarantees long-term profits.

Key Takeaways 

1. Look at earnings yield and return on capital to evaluate stocks. 

2. Rank and combine these two factors to find winning companies.

3. Be patient, it’s what makes this formula unpopular, but effective.

7. The Millionaire Fastlane by MJ DeMarco

The Book in One Sentence The Millionaire Fastlane points out what’s wrong with the old “get a degree, get a job, work hard, retire rich” model, defines wealth in a new way, and shows you the path to retiring young. Key Takeaways 

1. Wealth stands for 3 things — and money isn’t one of them: health, relationships, and freedom are what truly matters.

2. At some point, you must make your income independent of your time. 3. Think like a producer, not like a consumer.

8. Think and Grow Rich by Napoleon Hill 

The Book in One Sentence Think and Grow Rich is a curation of the 13 most common habits of wealthy and successful people, distilled from studying over 500 individuals over the course of 20 years. 

Key Takeaways 

1. Use autosuggestion to build an unshakeable belief in yourself. 

2. Be stubborn and always stick to your decisions.

3. Join a Mastermind group to cut your learning curve. 

9. I Will Teach You To Be Rich by Ramit Sethi 

The Book in One Sentence I Will Teach You To Be Rich helps you save money on autopilot while allowing yourself to spend guilt-free on the things you enjoy. 

Key Takeaways 

1. You’re the only one responsible for your financial problems.

2. Know how much money you have coming in and then automatically direct it where you want it to end up.

3. Start investing today, even if it’s just $1.

10. The Total Money Makeover by Dave Ramsey

The Book in One Sentence The Total Money Makeover shows you how to stop accepting debt as normal, eliminate it forever in small increments, and build the financial future you deserve in seven steps.

Key Takeaways 

1. Before you do anything else, put away $1,000 in an emergency fund.

2. Start paying down your debts, beginning with the smallest. 

3. Grow your emergency fund until you have at least a three-month buffer. 

Tue Jul 4, 2023