The most actionable way to increase your chances for future success is through education and knowledge. The best way to increase your knowledge and education is through books.
I’ve complied a list of books that have had a profound impact on the way I invest, live my life and build my businesses for like minded individuals. Today there are so many personal finance and investment books, it’s difficult to find ones that are actually worth your time.
The following list consists of books that I’ve read, and feel will aid you in your journey to Millionaire By 25. Each book has an Amazon affiliate link (which helps me support the blog), and a summery/review by me, James LePage. If the book links are not showing on, you probably have AdBlock on! Finally, one last note. I am a huge, huge proponent of buying used books. When buying through Amazon, I can save up to 50% regularly by buying used. I have yet to receive a book in unreadable (or even poor) condition.
(Last Updated: 2/12/2018)
Rich Dad Poor Dad:What the Rich Teach Their Kids About Money–That the Poor and the Middle Class Do Not!
Virtually every single successful young person will cite Rich Dad Poor Dad as an extremely valuable source of information on personal finance, frugality, and savings. This book serves as inspiration and a starting off point to many, and is a fairly quick and easy read. This is why it receives a place at to the top of the list. If there’s one book that I fell like everyone should be mandated to read, it’s this one!
Some key ideas of the book include: Assets make you money, while liabilities take them. For example, a stock will return dividends, and a rental property will garner rent. These are assets. A car, on the other hand, takes money. You need to pay for gas, insurance and maintenance. It’s a liability. Wealthy people buy assets (stocks, bonds, cash flowing real estate) first, and then let their assets buy their luxuries. For example instead of buying a new iPhone, put that money in a dividend stock, and let the dividend buy the phone. It’s a win-win-win: you get the phone, capital gains and dividends!
I could go on and on about this book, but I won’t spoil the whole thing for you. Go ahead and buy it (right now it’s selling for $5 – and would be the way to invest that cash lying around your room!)
Principles: Life and Work
Principles by Ray Dalio offers guidance on business, finance, personal interaction, and life. Think of it as an entrepreneurs bible. Ray Dalio is an extremely successful entrepreneur who founded Bridgewater Capital, an asset manager which invests billions of dollars, regularly out preforms the market, and is one of the largest in the world.
The book first explains to you why Dalio has the credibility and know know to write this book – and why you should read it – by introducing him and walking through his life. The second part of the book goes through principles that he lives by, and explains why they work and how they were developed. It’s rare that you get such an in depth and personal view into the mind of one of the “greats” – think Jobs, Gates, Buffet – but this is one of them.
I won’t say much more about the book (it’s to good to spoil), except that it is a must read.
The 48 Laws Of Power
The 48 Laws of Power is an amazing book that offers clarity and guidance in many day to day situations
This book is an important source of knowledge that every young business person should know an understand. Author Robert Greene details 48 laws of power, then describes them in the following pages. You can use this information in several ways; ignore it, use it, or understand it. (Warning: Some of the laws and explanations can be extremely blunt… but all are true.)
This information is to valuable to ignore; each law can be seen in use throughout the world around you (especially in business), and you should strive to understand it. By understanding it, you can be a more effective businessperson – many of these laws explain why and how certain people act. If you choose to use the information it can serve to help you out in many situations. An example law that I see in many every day situations follows:
Law 9: Win through your actions, never through argument
Every great leader (both leaders that you know personally, and figureheads) follow this simple principle. Go read the book to find out the other 47!
12 Rules For Life: An Antidote to Chaos
Another law book, the 12 Rules For Life differs from the 48 Laws of Power, as it is equal parts philosophy, psychology, and self-help book. I think that this book should be read by everyone, but it will be a greater help if you lack discipline and self-control.
It’s important to note that Dr. Peterson uses life experiences, religion, and history to create the laws described in his book, and that some of his views may be controversial, but the advice given is rock solid. As described by the author himself, this book is “12 rules to stop you from being pathetic, written from the perspective of someone who himself tried to stop being pathetic and is still working on it. “
Here’s an example rule:
Rule 10: Be Precise in Your Speech (make honestly condensed messages).
To find out the rest, I strongly suggest you read this book!
The Intelligent Investor: The Classic Text on Value Investing
The Intelligent Investor by Benjamin Graham is recommended by pretty much every successful investor. This book instills simple principles that are both moving and motivating to anyone looking to get started in investing. Here are a few lessons that show up in this book more then once:
- Diversify – Limit’s risk
- Don’t invest in IPO’s
- Figure out when and where bubbles are and stay away
- Don’t consider companies that do not pay dividends.
In the long term, if you follow the advice in this book, you’ll come out far ahead. There’s good reason that when studying today’s successful investors, like Buffet or Dalio, their operational principles almost mirror the advice given in this book… it works!
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