So, you want to join the millionaires club, but you don't know how to go about it.
The best place to start is to feed your mind with knowledge and profound ideas so you can
change your mindset.
And how do you do that?
Well, you simply pick up a book.
As you know, all great things starts with how you think, and the only way to change
this is by nourishing your mind.
They say one good book can change a poor man's future, and so, in today's video, we'll share
with you not one, but ten books that can make you rich.
Make sure you watch until the end if you want to take on the world.
Now, let's begin shall we?
10 Think and grow rich by Napoleon Hill Napoleon Hill, a renowned journalist, interviewed
over 500 successful millionaires and philanthropists, we are talking about the likes of Henry Ford,
Andrew Carnegie, and Charles M. Schwab, just to mention a few.
He undertook this task to discover their millionaire secrets.
His discoveries led to the release of this 1937 bestseller self-development book.
Think and Grow Rich is timeless!
It is my personal favourite classic financial book that makes you understand the relationship
between money and mindset, which I find so important.
A person's mindset is very grand and can prevent you from increasing your riches.
The book helps you learn to suppress the art of overpowering psychological obstacles and
begin thinking your way to success.
The book also narrows down wealth generation into 13 steps which you should read and find
out in case you haven't already.
The power of your thoughts, followed by putting them to action, is where you should start.
In his book, he says that greed is good as long as you are willing to share your wealth.
"You have to want money and be so determined to have it so that you convince yourself that
you will have it" such powerful words!
don't you think.
9 The Little Book of Common Sense Investing For those that appreciate index funds, take
a closer look at this book.
The Little Book of Common Sense Investing concentrates on effective and easy ways of
accumulating your wealth through investing in low-cost index funds.
John C. Bogle, the founder of Vanguard Group was the creator of the world's first index
fund.
What I respect about him is that he created a financial product for the people.
In his book he presents you with compelling reasons for why you should invest in the low-cost
index fund, and dodge market bubbles.
He also makes it known that these low-cost index funds are diversified and cost-efficient.
Investing in the low-cost index fund means that both you and the company win.
Rather than purchasing individual stocks, John Bogle exemplifies that it's much more
beneficial to acquire all the stocks in a particular index, group, industry, or country.
Indexing exceeds the majority of mutual funds, and this is why he is insisting on this.
Additionally, the fees in index funds are also much lower as compared to others because
they don't have expensive offices or managers.
This is something to think about and try.
So, check out the book and decide for yourself.
8 The Millionaire Next Door The classic book, The Millionaire Next Door,
was written by Thomas J. Stanley and William D. Danko and first published in 1996.
The authors classified people in American households with a net worth of $ 1 million
or more as Under Accumulators of Wealth, with a low net wealth compared to their earnings.
They then gave them directions to help them obtain a greater net worth as opposed to their
income.
This book dives deep into how millionaires in America became rich in seven requisite
steps.
What I took home from this book is the simple approach of spending less than what you are
earning.
To me this implied avoiding impulse buying and also broadening my investments.
The author of The Millionaire Next Door also found out that most millionaires live very
humble lives.
It's only 1% of their flashy millionaire peers lives, that make them look bad.
Most Millionaires are wise spenders that don't excessively spend.
You'll find that the most common car that they own is a pickup truck, not a Ferrari.
The book, The Next Millionaire Next Door is a recent followup of The Millionaire Next
Door which is just as intriguing.
The newer version has updates and more recent research on ways of building wealth.
The book is filled with case studies and conforming data that looks at lifestyle choices and careers,
which are all different pathways of getting successful and rich.
7 The Automatic Millionaire David Bach is a self-made millionaire and
financial advisor that came up with the bestseller book The Automatic Millionaire.
David Bach emphasizes on his idea of getting rich through a well laid out plan other than
budgeting.
According to him, you don't need a budget, or even to make a lot of money.
He uncovers a number of money misconceptions in this easy-to-read bestseller.
The Automatic Millionaire gets you started on your journey to wealth creation within
an hour, through offering you timeless principles including phone numbers, websites, and money-making
elements.
This is a Phenomenal book that you should give a try.
6 The Richest Man in Babylon This book is one of my favorites.
It was published in 1926, and became the first popular personal finance book.
It is one of the most inspirational works ever written on the subject of personal financial
planning, personal wealth, and thrift.
George S. Clason unearthed systems and secrets that will lead you to individual wealth.
If you are looking for a book that tackles personal financial problems, The Richest Man
in Babylon should be on your top read lists, as it discusses and comes up with practical
solutions that will lead you to wealth.
What makes this book a celebrated bestseller is the secrets that it reveals.
It emphasizes on saving as opposed to spending;- keeping your money, finding ways of adding
value, and making more money through investing.
The book also discusses the importance of charitable giving, which I find benign.
This book uses parables, and it's the only parable that I've read that makes the intended
message so powerful.
Diving deep into the book, you find out that rich people stay rich because they are good
at saving their money, they avoid debts, and they know how to properly spend their money.
George S. Clason recommends having an important mindset of saving at minimum 10% of your income
as a way of paying yourself first.
The earlier you read The Richest Man in Babylon, the better.
This book will make you discover a lot about yourself and your financial wellbeing.
5 How Rich People Think "Everyone has the same opportunity to acquire
wealth," says Steve Siebold the author of this informative book.
So how come some are so rich as compared to others?
The divide of the richest and the poor grows every day.
Siebold conducted over 1000 interviews with millionaires and billionaires to see what
makes them different from those with less.
In the book, Siebold penetrated the thoughts and habits of the rich and came up with concrete
steps that one can follow to build their wealth.
If you are an ambitious person, you will find this book interesting and you will be guided
on how to think differently and change your attitude to acquire more wealth.
4 The Millionaire FastLane When I was reading the Millionaire FastLane,
what struck out was the disparity between what you can and what you can't do.
There are two lanes described here, the Slowlane Road and the Fast Lane Road that suggest disregarding
conventional advice and settling for the unorthodox path to achieving wealth and financial soundness.
I then realized that some people don't obtain millionaires status because traditional roads
do not work.
The Millionaire Fastlane is a good read if you are the kind of person that feels stuck
at a job you despise, or you feel like you are wasting so much time doing something that
you shouldn't.
It is the right book for you, if you are determined to be a millionaire and have no idea where
or how to start.
Maybe you want to start your business enterprise and you feel stuck, this is the book for you.
The conventional path to wealth is determined by working hard while young to have enough
set aside for when you get old.
But if you manage to set up a business enterprise that is self-sustaining even at your old age,
you will be generating income without actually working.
The choice is purely yours and how ambitious and determined you are and what you aspire
to achieve and be.
When you make an impressive income, and you keep carelessly splurging it on luxury items,
you will go broke pretty fast.
It will; teach you to find the conventional way that works for you.
3 Your Money or Your Life How would you define your relationship with
money?
What I appreciate about this book is how it informed me on how to transform my relationship
with money.
Your Money or Your Life is a life changing book.
The authors Robin and Dominguez explicitly explain how your life (time) and money intertwine.
You work hard to make money and in this you spend time working.
Do you then need to spend more of your time or work hard to have more money at the expense
of your well being?
A healthy and wealthy life is desirable and if you want this kind of lifestyle, you have
to detach yourself from money.
Other than striving to make more, be better at managing the money you have.
Save it, don't waste it.
Your money and your life should be working strategically.
Vicki Robin comes up with many examples of living frugally to increase the quality of
life.
Your Money or Your life is worth a read.
2 The Intelligent Investor When I wanted to start my journey in stock
investing, my dad recommended this book to me, and to this day, I can clearly say I have
learned a lot.
The Intelligent Investor is like the Holy Book of Investing.
It provides a firm comprehension of contemporary financial conjectures that enables you to
invest wisely without the prospect of losing it all.
Benjamin Graham, the author of this book outlined his approach to long term, risk-averse investment
in the stock market in 1949, and the concepts are still valid in today's investment world.
The book thoroughly analyses the inherent value of a corporation and its capacity for
growth.
It also focuses on securing steady returns rather than focusing on short term gains.
If you follow these guidelines, you will drop the rollercoaster surge and gain a long term
plan.
The Intelligent Investor will also make you realize if investing in individual stocks
is for you or not because people have different investment strategies.
In case you have a deep passion for financing, I highly recommend it.
1 Rich dad, Poor Dad This book had to be featured on this list
as it was the first financial book I read that made me explore all the other books mentioned
above.
It is a must-read if you want to start taking the next steps to attaining wealth no matter
what age you are.
Rich dad, Poor dad describes an eighth-grade dropout that spends less than he makes and
who's more intelligent than a college professor but can't make ends meet.
The author Robert T. Kiyosaki outlines that working and receiving a steady paycheck is
what can get you started, but it shouldn't be where you want to finish at.
You should invest your money and your time buying property or starting a business to
achieve financial freedom.
Having a passive source of income or a diverse investment portfolio is a start to growing
your wealth and becoming a millionaire.
I personally believe that these are the ten books that can be a great start to a rich
future.
It's important to learn from what others have done, master the art of diversifying your
investment, be in the right mindset, and health to acquire and enjoy your wealth even when
you are old.
There is no better time to start than now.
One day you might be signing copies of your own best seller book as a millionaire, advising
people on how you made it and that they can make it too.
If you would like more books, check out, Purple cow by Seth Godin, why you act the way you
do by Tim Lahaye, and Unleashing the idea virus by Seth Godin.
Well, thank you all so much for watching.
I hope you have enjoyed and found value in this video.
If you did, go ahead and give it a thumbs-up, and if you are new here, welcome and subscribe
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With that said, have a good day, and I'll see you all in the next one.