If you haven’t read Parts 1 - 11 of this 12-part series, you may find it helpful to go back and read through them. Please leave any question, comments, or suggestions in the comments at the bottom of each post, or email me with the contact page. Thanks!
Well, we're nearly done. If you've followed this series from start to finish and taken action, congratulations. You've changed your life forever. However, the journey doesn't end here. There's always more to learn and ways to improve your financial plan and performance. One of the most important things you can do is continue to educate yourself on financial topics and how best to manage your personal resources. To that end, I'm going to recommend a few books that can help you get started. Try to read one every month or two and within a few years, you'll be an expert.
Rich Dad, Poor Dad by Robert T. Kiyosaki
When I was about 19, this book changed my entire outlook on money and finances. Looking back, and reading through the book now, I see a lot that I disagree with, but it sparked my thinking about how to manage money, and what financial freedom truly means. Not a practical book, but definitely a good start if you have no “financial motivation.”
The Millionaire Next Door by Thomas J. Stanley
This book, which I read recently, is the result of years of research of America’s millionaires: how they live, what they wear, what cars they drive, how they made their money, etc. It was definitely inspiring to me, and also got me thinking about the impact of wealth on future generations, both good and bad.
Cashflow Quadrant by Robert T. Kiyosaki
This book builds on Rich Dad, Poor Dad and goes into detail about how to build multiple streams of income and gradually reduce your reliance on earned income. It contains overviews of the impact on personal finances and income of things like real estate investment, entrepreneurship, and investing in businesses.
The Richest Man in Babylon by George S. Clason
This is a deceptively simple book that contains a series of financial parables that teach the importance of always saving, the power of compound interest, investment, insurance, and other time-tested financial truths. Easy read and a good reminder of some very basic lessons. Again, good to read if you find yourself lacking that “financial motivation.”
Getting Loaded by Peter Bielagus
I haven't actually read this one yet, though it's on my list. However, I've received good reviews and it appears to be a good overview of investing for young adults.
The Little Book of Common Sense Investing by John C. Bogle
Haven't read this one either, but also got great reviews from people I trust. John Bogle is the founder of Vanguard and was the creator of the world's first index fund, so he knows what he's talking about.
Task: Get one of the recommended books and read the 1st chapter.
All of the books can be purchased by clicking on the links above and buying from Amazon, which I would really appreciate (I get a very small percentage of the transaction as an affiliate). Remember, your speed in reading these books isn't really what's important. Just get started and keep moving.
Disclaimer: I am not a professional financial adviser. All information herein is provided in good faith. It is not intended to be, and should not be relied on as, a substitute for independent legal, financial, tax or other professional advice. Readers should seek appropriate legal, taxation, accounting, investment or other expertise in their local and overseas jurisdictions.