Knowledge is power. If you’re reading this blog, then chances are you serious about the journey to financial freedom. Fortunately, lots of incredible books have been written by people who have walked this path, and their combined wisdom and insights can help us navigate this path. I have read hundreds of books over the last few years ranging in topic from entrepreneurship, personal finance, economics, and trading. Here I provide a list of 5 really good books that deal with the topic of money.
Rich Dad Poor Dad by Robert Kiyosaki
This book is not necessarily very advanced in its information, but does provide great insights for people just beginning on the journey to financial independence. Basically, Kiyosaki communicates the primary differences between people who accumulate liabilities and those who accumulate assets. Asset accumulation is truly the path of wealth creation. Getting that principle fixed in one’s mind is reason enough to read this book. He also talks about business specifics such as how a company can access business cash advances and other forms of credit.
The Four Hour Workweek by Timothy Ferriss
This is one of my all-time favorites. Ferriss was a young entrepreneur making tons of cash, but draining away his life and energy, as he slaved away 80 hours per week. After several years of this crazy lifestyle, he reached the end of his rope. He abruptly decided to cut relationship with his most problematic, time-consuming clients, automate as much of his business as possible, and travel the world. He did it, and his business started making more money than ever, increasing his net working capital. After he traveled the world for over a year, managing his company from remote locations, he came back to the States and wrote this book, which details how he did it. He also discusses how you can start your company with or without business cash advances. It’s inspiring, practical, and informative.
Fooled By Randomness by Nassim Taleb
Now, this book is not necessarily about money, per se, but I feel that it is essential reading for anyone interested in success, specifically financial or business success. Taleb spent his life as a quantitative trader on Wall Street, and he watched countless people rise and fall, financially. In this book, he communicates his ideas of how much of a role randomness plays in our lives, and how to approach life from a risk/reward perspective. Again, this is not necessarily the most practical book, but just check the reviews on Amazon, and you will see that it’s worth reading.
Think & Grow Rich by Napoleon Hill
When it comes to finding true, financial independence, writing out a very clear, detailed plan concerning how you will do this is essential. Hill’s book has been a classic for over 70 years. In it, he offers readers incredible insights into how they can formulate a plan for the accumulation of riches. Hill was charged by Andrew Carnegie in the early 20th century to interview the richest, most successful people in America in order to identify common characteristics. Hill noticed that nearly every person he interviewed had grasped hold of the power of intentional thought, planning, and other tools. In Think & Grow Rich, he communicates his findings in compelling fashion.
Your Money Or Your Life by Vicki Robin
This book is utterly practical. Robin communicates a 9 step plan that involves taking a retrospective look at how you have managed finances in the past, how you are managing them currently, and the books ends with specific, practical advice on how to proceed and write out a plan for financial success. She also discusses how to find your net working capital each month. This book has helped inspire thousands of people to begin on their journey to financial freedom, but the beauty of this book is that it is not simply inspirational with no substance—the practical steps and guidance are extremely effective.