“You either get the idea in the first five minutes, or you don’t get it at all”, commented Warren Buffet in the epilogue. I would add – you don’t necessarily need to read all 550 pages, but you must read through the idea of value investing – and it will change your way of looking at the world
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 best selling 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.”
Through research into U.S. households with a net worth of $1 million or more, authors Thomas J. Stanley and William D. Danko identifies most individuals as Under Accumulators of Wealth (UAW) who have a low net wealth compared to their income. They then provide advice (like take skimpy vacations) to help people achieve a higher net worth compared to their income.
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.
This book from 1910 provided the intellectual framework for many personal wealth-building seminars. Wallace Wattle believed that how you think about your ability to accumulate wealth is how you create wealth. If you believe that money is evil, you won’t be wealthy.
This book is a solid beginner’s tome to all things personal finance and investing. You’ve probably seen Sethi’s name here at Lifehacker before—we’ve featured many of his financial tips and suggestions for years. The book originally came out in 2009, and is primarily designed to break down complicated financial topics into simple,