Top 5 Financial book recommended

Top 5 Financial books recommended

 

The internet is a great source for information about personal finance. If you want to know how an index fund works, which debt repayment method is most effective or how to save money on groceries, you can find ten articles with the information you need to know.

But if you want to dig deeper into a money mindset or financial philosophy, there’s still no substitute for a good old fashioned book. That’s why even successful bloggers and TV personalities also publish books—it gives them an opportunity to flesh out their worldview in a comprehensive, detailed way.

If you like to read and you also like finance and the markets, there's a plethora of books in the genre of finance, some of which are geared toward self-help, some for financial advisor professional success, and some as just interesting stories of Wall Street

 

The richest man in Babylon - George S. Clason

This book is amongst the top books to read this year. You will not necessarily get a lot of actionable items from this book; instead, the book is a collection of parables about money. These are the type of fairy tales one could imagine Warren Buffet would tell small children about his road to wealth.

Perennial tips like saving 10% of your income are presented as "save one piece of gold for every ten which come into your purse." The advice in this book is simple and easy to understand.

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The book may be overly simplistic for the taste of those already well acquainted with the principles of personal finance. For the majority of readers, however, the parables provide a new perspective on financial decisions, and will help instill good financial habits as purely common sense (While it is important to invest early, it is also important to invest wisely).

Best quote: "Budget the expenses that thou may have coins to pay for the necessities, to pay for the enjoyments and to gratify the worthwhile desires without spending more than nine-tenths of the earnings."

The intelligent investor - Benjamin Graham

It is a widely acclaimed book by Benjamin Graham, one of the greatest investment advisers of twentieth century. The book aims at preventing potential investors from substantial errors and also teaches them strategies to achieve long-term investment goals.

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In the book, Graham has explained various principles and strategies for investing safely and successfully without taking bigger risks. Modern-day investors still continue to use his proven and well-executed techniques for value investment.

 

“By far the best book on investing ever written.” - Warren Buffett

 

Rich dad poor dad - Robert Kiyosaki

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" is something of a memoir with lessons attached. This is one of the bestselling personal finance books ever.

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An eighth-grade dropout who spends less than he earns is smarter than a college professor who can't make ends meet, according to Robert Kiyosaki. Furthermore, while working for a steady paycheck can get you started, your best investment of your time and money is to buy property or a business. Or better yet, do what Kiyosaki himself did and write a bestselling book.

Best quote: "The key to financial freedom and great wealth is a person's ability or skill to convert earned income into passive income and/or portfolio income."

The millionaire next door - Thomas J. Stanley

The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don't live in Beverly Hills or on Park Avenue-they live next door.

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After years of research into the wealthy, the authors interestingly found that most of them don't live in Beverly Hills or drive fancy cars. Instead, these people acquired most of their wealth by working hard, living frugally, and saving most of their money. Contrary to the media's flashy depiction of millionaires, the book emphasizes how to get rich without needing a high-profile job or degree.

Best quote: “People whom we define as being wealthy get much more pleasure from owning substantial amounts of appreciable assets than from displaying a high-consumption lifestyle.”

 

Think and grow rich - Napoleon Hill

The book details out the most fundamental questions that once bothered the author, Napoleon Hill. The author once set out on a personal quest to find out what really made some people so successful.

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For more than a decade, the author interviewed some of the wealthiest and most successful people in the world. The book’s lessons are distilled from interviews with the most successful people of the day, including Henry Ford, John D. Rockefeller and Charles M. Schwab.

The author has in many places narrated short stories and examples that help explain the concept at hand in an engaging manner. Think and Grow Rich teaches not just concepts but also methods. Till date, it remains the number one self help book in the world, as far as sales are concerned.

Best quote: "If you truly desire money so keenly that your desire is an obsession, you will have no difficulty in convincing yourself that you will acquire it. The object is to want money, and to be so determined to have it that you convince yourself that you will have it."

Conclusion

Nothing beats an old fashioned book when it comes to learning the about a specific topic, including personal finance. These books can help you get started on your journey into personal finance.