Do you also dream of being financially free? Don’t know where to begin?
Here are some great writings that are worth a read which is capable of giving you a head start in your journey towards financial freedom.
5 Great Books on Financial freedom
- Rich Dad Poor Dad
- I will teach you how to be rich
- The Millionaire Next Door
- The Money Book for the Young, Fabulous & Broke
- The Little Book of Common sense Investing
5 Best Books on Financial freedom
1. Rich Dad Poor Dad
“ Rich Dad Poor Dad ”, a great memoir by the author, Robert Kiyosaki’s childhood which propelled him towards achieving a financially free life.
In the book, he describes how his ‘Rich Dad’ who was a businessman himself and also his mentor opened up the path towards financially free life. Throughout the author’s life, he grew up keenly observing both mindsets.
He defined ‘assets’ and ‘liabilities while challenging the mistaken ideas like “ Your Home is an Asset.”
Kiyosaki believed that JOB stands for Just Over Broke and the skill “Selling” is the most prominent in our capitalist society.
The most beautiful part about the book is that is simple, straight-forward and imparts us valuable teachings in the form of tiny anecdotes
For someone who is just starting to step into the world of finance, it is a great place to start and build your foundation and mindset.
2. I will teach you how to be rich
Ramit Sethi, the author gives you a six-week plan to follow in your finances. Although, the book will benefit all age groups but is highly recommended to the age of 20-35-year-old personnel.
The book offers you quaint and simple techniques that are often overlooked for being ‘too simple.
Sethi focuses on the four pillars of finance person finance: banking, saving, budgeting, and investing. It is teeming with advice on personal finance while it also gives out ideas on wealth building and entrepreneurship.
3. The Millionaire Next Door
A masterpiece worked on by two masters Thomas J. Stanley and William D. Danko.
Stanley and Danko identify most individuals as Under Accumulators of Wealth (UAW) who have a low net wealth compared to their income which means they are unable to maximize their wealth to its full potential. The book describes how there are millionaires all around us but we simply lack the eyes to see them.
It focuses on the 7 simple traits that all millionaires have in common. Moreover, the book is overflowing with many research advice and ideas to optimize your finances and on to the path of financial freedom.
“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.”
This is one of the most impactful and eye-opening words you’ll find in the book. It’s a fun read with also oddball yet veritable advice like taking a ‘skimpy vacation’.
4. The Money Book for the Young, Fabulous & Broke
Unlike most of the books which are focused on the retirement mindset more specifically being rich when you retire, Suze Orman, Author, and the TV star aid you in not staying broke in your youth.
Like says, “You picked up this book because you are broke. Keep reading and you will discover what you need to know–and do–so you will not be broke forever.”
Generally focusing on getting out of debt, huge student loans, and grinding the basics of financial management all staying ‘fabulous’ in your youth.
They, who are called “Generation Debt” and “Generation Broke” by the media, Orman imparts his wisdom to the people in their 20s and 30s still struggling with their financial status. He tells the new generation not to do what their parents did, buy a house, get out of debt, save money and support a family.
He insists that people need to change as the times change all while living their life to the fullest.
5. The Little Book of Commonsense Investing
John C. Bogle, the author Over and over highlights the necessity of having ‘common sense’ while investing. The book highlights how the people are misguided by the numbers in their work which they are not capable of completely understanding. They make things unnecessarily complex while letting go of the most obvious thing, ‘common sense.
He is the one who invented the index fund and is the founder of the Vanguard Group. His endeavors have helped millions of people to get into the world of investing at a lower price.
The book overall is on a higher level however is a mandatory read for comprehension of the essence of investing. The little book is what can be archetypally called ‘Small Investment. Big Returns.’
In the book which is focused on your foundations of Investing, ‘ Rich Dad Poor Dad’, Kiyosaki talks about a primary principle ‘KISS’- Keep It, Super Simple.
Often, people overcomplicate and overthink things when it is related to money.
All the books insist on simplicity and self-discipline.
The insight gained is tremendous life-changing.
Dear Reader, Hope to see you achieve Financial Freedom as well!