By ofwisdomowl Amazing Investing Books for Beginners show my favorite books to start your journey on personal finance and financial freedom. “Rich Dad Poor Dad”, “The Richest Man of Babylon” and “Think and Grow Rich” focus on developing an entrepreneurial mindset and taking control of one’s financial future. “The Automatic Millionaire” and “The Millionaire Next Door” will give you a look at the habits and characteristics of the wealthy, and emphasizes the importance of frugality, saving, and investing in building wealth.
Rich Dad Poor Dad by Robert Kiyosaki
My Book Notes here
I’d suggest reading this book as one of the foundational texts on the path to financial freedom. It is easy to read and a good story. It compares the lessons Robert learned from his 2 dads. His rich dad (his best friend’s father) and his poor dad (his biological father), they both had very different views of financial freedom and life in general. It emphasizes the importance of financial education and encourages readers to develop an entrepreneurial mindset and to think differently about money and investing. Definitely, get this one.
The Richest Man of Babylon by George Clanson.
My Book Notes here
This book is widely popular and is considered a classic in personal finance. It’s a light read and a great start to get a sense of how to manage money. It tells the story of “Arkad”, who becomes the wealthiest man in the city of Babylon by following simple ideas on money management provided by a friend. Key takeaways of this book are: focus on saving, living within one’s means, and investing in yourself. I am sure you will love it.
Think and Grow Rich by Napoleon Hill.
My Book Notes here
This book was written in 1937 and its lessons are still valid today. Napoleon Hill interviewed famous and successful people of the time (like Andrew Carnegie, Henry Ford, and Thomas Edison). Some of the principles you will learn are about desiring and dreaming big, trusting your own ability to achieve success, acquiring the knowledge you need to achieve your dreams, putting together a plan, making a decision to start and be persistent on your goals. This book is definitely a must read.
The Automatic Millionaire by David Bach.
My Book Notes here
This book is more about practical tips and habits. It emphasizes the power of automation in achieving financial success and provides a step-by-step guide to setting up automatic savings and investment plans. It’s easy-to-understand and a good reference book regardless of your level of financial literacy.
The Millionaire Next Door by Thomas J. Stanley and William D. Danko.
My Book Notes here
This one will give a different perspective of how real life wealthy people look like. This book is based on research done by the authors and will give a sense of the habits and things rich people do. It emphasizes the importance of frugality, saving, and investing in building wealth and stresses the importance of living below one’s means.Very interesting view. Lots insights and definitively food for thought