Top 10 Personal Finance Books of All Time

Previous articles have identified the best motivational business books of all time and the best revealing books for the entrepreneur. Here is a list of books to help you get out of the debt frenzy and achieve the wealth you really deserve.

ten. Richest man in Babylon

George S. Clason’s false biblical parables of acquiring wealth have inspired investors since the 1920s. Like most personal finance books that have followed, Richest man in Babylon emphasizes saving rather than spending. However, the book also insists that charitable giving is just as important, as long as you don’t allow those two people you donate to become dependent on your donations.

Best quote: “Plan your expenses so that you have coins to pay for your needs, to pay for your pleasures, and to satisfy your laudable desires without spending more than nine-tenths of your income.”

9. Rich daddy, poor daddy

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. Plus, while working for a regular salary can get you started, your best investment of your time and money is buying a property or business. Or better yet, do what Kiyosaki himself did and write a bestselling 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.”

8. The millionaires’ fast lane

Working hard, saving 10% and retiring at 65 is a dumb game because 1) the financial markets are just too volatile and 2) you will be “in a wheelchair” by the time you actually have enough to retire, according to author MJ DeMarco. A better strategy is to use the volatility of the financial markets to get rich quick and profit from it now.

Best quote: “Show me a 22 year old who got rich investing in mutual funds. Show me the man who made millions in three years by maxing out his 401k. Show me the youngster in his twenties who got rich in cut coupons. Where are these people? They don’t exist. “

7. Your money or your life

Contrary to popular belief, living more frugally increases (rather than decreases) your quality of life. Author Vicki Robin’s cites many examples, such as working at a job that earns less than the amount you pay for childcare and “time-saving” trips to McDonalds.

Best Quote: “Conditions have changed, but we still operate financially by the rules established during the Industrial Revolution – rules based on creating more material goods. But our high standard of living has not led to a high quality of life – for us or for the planet. “

6. The science of getting rich

Although it contains nothing that even vaguely resembles “science,” this 1910 book has provided the intellectual framework for thousands of personal wealth-building seminars. Author Wallace Wattle believed that your ability to accumulate wealth directly depends on how you think about it. In other words, if you believe that money is the root of all evil, you will never be rich.

Best quote: “No man can reach his greatest possible height in soul-developing talent if he doesn’t have a lot of money.”

5. The millionaire next door

Through research on American households with net worth of $ 1 million or more, authors Thomas J. Stanley and William D. Danko identify most individuals as sub-wealth accumulators (UAW) who have a low net wealth relative to their income. They then provide advice (like taking a lean vacation) to help people achieve higher net worth relative to their income.

Best quote: The people we define as wealthy have much more pleasure in owning sizable assets than in pursuing a lifestyle of high consumption.

4. Total money makeover

Anyone who’s listened to Dave Ramsey’s radio show knows he was using common sense: avoid buying on credit, pay cash for anything possible, get out of debt, and build up an emergency fund. Rather than fancy promises and wellness trivia, it offers solid, basic advice for all men and women.

Best quote: “What I did was bring age-old information together into a process that was achievable and that inspired millions of people to take action.”

3. The money book for the young, the fabulous and the broke

Most books on personal finance seem to be written with the prospect of retirement in mind. In this playful offering, TV star Suze Orman helps millennials navigate the basics of the financial world, like dealing with huge student loans and a job market that, for young people, is almost as bleak as the great Depression.

Best quote: “You chose this book because you are broke. Read on and you will find out what you need to know – and do – so that you are not broke forever.”

2. Secrets of the millionaire mind

If you’re poor it’s because you think like a poor person and if you’re rich it’s because you think rich, according to author (and multimillionaire) T. Harv Eker. To make matters worse, the poor essentially program their children to be poor, providing them with a worldview that makes wealth accumulation impossible. Don’t worry, though. If you start to think like a tycoon, you can be one too.

Best quote: “The vast majority of people just don’t have the internal capacity to create and hold large amounts of money and the increased challenges that come with more money and success.”

1. You have to think to get rich

In the 1930s, author Napoleon Hill interviewed a series of millionaires and philanthropists, starting with steel mogul Andrew Carnegie. The result has been ever-selling self-development work that encourages the idea that “greed is good” – as long as you are willing to share your wealth.

Best quote: “If you really desire money so badly that your desire is an obsession, you will have no difficulty convincing yourself that you will get it. The point is to want money, and to be so determined to get it. have it you will have it. “

What other books should have been on this list. Leave a comment!

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The opinions expressed here by the columnists of Inc.com are theirs and not those of Inc.com.


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