5 books you must read to grow rich

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5 books you must read to grow rich

Row of books and jar with savings

Starting your financial journey and looking for some great and meaningful books to read?? First of all, congratulations as you have chosen the most appropriate first step towards financial wisdom, and secondly, we would love to offer you some help in choosing the best books as we certainly don’t want you to get lost in the deep ocean of financial books in the market. If this interests you, here are some great financial books to read that will offer you great insights about financial world and its relation to wealth & prosperity.

Rich Dad Poor Dad

If you have ever tried co-relating higher education with success, you must have got rather reciprocating results. Even if we scour the life history of many rich and successful people, all we get to see is that financial literacy is nowhere related to success and prosperity. This is exactly what Robert Kiyosaki, the author of Rich Dad Poor Dad describes in his book. The book simply states that having higher education and a secure job does not make you a successful man in life.

This one book is the best to pick first on your journey to financial wisdom. The author very creatively explains the success path to wealth & prosperity by taking the example of his “two dads.” His first dad, the biological one, is a well educated, Government employed man, who works hard to earn his income. Whereas, the second dad, a great mentor, and friend, who is the owner of an empire and has his hands on an 8th-grade education

While the first struggles to meet his financial ends, the latter enjoys a ravishing life. Here, the book isn’t about his two fathers, but about their point of view towards money. A man’s approach towards money and wealth is what makes him successful and prosper. The book offers you some insight of the financial world and lets you see money making in a whole new light.

The book offers us some great lessons that are:

  • Your financial success is dependent on you; either fear or desire for more
  • If you know how to manage your finances you are a step closer to success
  • Focus on your asset and garner them to grow
  • Have a learning-oriented approach and the money would follow your trail

One Up the Wall Street

The impeccable book by the author Peter Lynch is the outcome of a mind, that is of a money manager, thinking, wondering and contemplating nothing but, money. The author terms a common man as “joker” and states that the Joker has more power than the professionals of Wall street only if he keeps his eyes open.

He shares his own experience of the use of fidelity in the stock market and making money. The book offers you a detailed categorization of stocks companies in the market, one must understand about, before investing in the stocks.

It makes a beginner aware of the types of stocks available, choosing the best stocks for investments, the art of analyzing annual reports of the company and how to seek investment options everywhere in the stock market.

The impeccable teachings of the book include:

  • There are 6 primary points to consider before investing in the stock market; Slow growers, Stalwarts, Fast Growers, Cyclical, Turn Arounds & Asset Plays.
  • Be patient and move strategically.
  • Watch for the new entrants in the market.
  • Search companies with niches.
  • Start investing in mundane companies, that appear dull and do not fantasize walls street.
  • The turnaround of a troubled company can earn you a fortune.
  • The companies with little or without institutional ownership are the best to invest.
  • Invest in a company that has room to grow.
  • Do not rely on diversification that can turn out to be worst, keep it limited.

4-Hour Workweek

This book might be a life changing book of yours, as it has been for most of the people. The book offers you to see the world in a different light, not only this he extends a step by step instruction guide for the same. The book speaks about the experiences of Tim Ferriss and how and what he learned from his life journey. The book doesn’t promote you to quit your job or become a risk taker but must have the ability to escape the “fragile collection of socially reinforced illusions” (as quoted by the author). The people who are able to combine time, mobility and money are the “New Rich” as per the book. You do not have to follow him step-by-step but you need to make the most of it.
To understand this book better, here is the easy way:

The entire book can be summed up in 4 alphabets: “DEAL” i.e. Definition, Elimination, Automation & Liberation.

Definition: The author very effectively describes the distinction between having money and being rich. He states the definition as being rich isn’t having lots of money but it is the ability to live as per our desires. He instructs to do things in a different way and come up as the winner.

Elimination: Here the author dictates how to eliminate tasks to have free time for oneself. Here comes the Pareto Principle; 80% of the results come from 20% of efforts.

Automation:

You are a New Rich and you cannot be everywhere to take care of almost everything. You need to replace yourself and bring automation in your entire business.

Liberation:

When all the fields are furnished, the author explains how to liberate yourself from the boundaries of work and commitment and flourish in your aims.

Think & Grow Rich

Napoleon Hill has indeed written a gem of a book. Think and Grow Rich was first published in 1937 and even today, it is one of the bestseller books one must read. The book has been repackaged a lot of times but the 13 impeccable teaching from the books indeed pave the success road to the top. The 13 principles that the book teaches us to comprise, Desire, Faith, Auto-suggestion, Specialized knowledge, Imagination, Organized planning, Decision, Persistence, the Power of the mastermind, the Mystery of sex transmutation, the Subconscious mind, the Brain, and the Sixth sense.

Desire: Without desire, you are going nowhere. One has to desire things rather turn his wants into desires to become successful.

Faith: No, not the religious one, rather Napoleon advocates to have faith in oneself. One has to have the confidence to excel.

Auto- suggestion: “If you do not see great riches in your imagination, you will never see them in your bank balance.” Hill supports traditional approaches for auto- suggestion.

Specialized Knowledge: No matter what you do, to become successful in your genre you need to hold specialized knowledge.

Imagination: “It has been said that man can create anything which he can imagine,”, Clearly imagination is essential for success.

Organized Planning: “You are engaged in an undertaking of major importance to you. To be sure of success, you must have plans which are faultless.”, hope this does not need much explanation as the importance of planning is self-explanatory.

Decision: You must have leadership quality to succeed and decision making is related to leadership.

Persistence: You need to give persistent efforts to whatever you plan for. Never give up is the sole motto.

Master Mind:

“No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind.” Hope it explains all.

Sex transmutation:

“Destroy the sex glands, whether in man or beast, and you have removed the major source of action. For proof of this, observe what happens to any animal after it has been castrated. A bull becomes as docile as a cow after it has been altered sexually.”

The Subconscious:

Here Hill describes the value of subconscious and seven distinct emotions- desire, faith, love, sex, enthusiasm, romance, and hope.

The brain: Hill quotes brain as the sending station and the body as a receiving set. The more the brain sends the more the body receives.

The Sixth Sense: Hill says, one cannot master his/her sixth sense. He quote, “the medium of contact between the finite mind of man and Infinite Intelligence” and ”the point at which the mind of man contacts the Universal Mind.”

These are some great books to start and get your share of success as soon as possible. Indeed, these books will help you grow smarter, healthier and of course rich. So, pick them and start reading right away.

6 Pillars of Self-Esteem

The marvel of conceptual writing by Nathaniel Branden, the “6 Pillars of Self Esteem” explain his self-developed psychological theories. The writer very effectually explains the core meaning of self-esteem and how it affects our everyday life. He rather quotes self-esteem as an essential part of a human personality and distinguishes it from arrogance.  He states that arrogance is pole apart than self-esteem. The book states 6 pillars on which self-esteem is based, however, the author doesn’t state to follow all, although he suggests following them. The six pillars as stated in the book are:

 

  • Know yourself first and live consciously

 

The first pillar states that one should live consciously and know his inner self first to conquer the world. No man could ever succeed without knowing himself first. A man must be aware of his behavior, responses and tendencies to excel in life. One has to correct his/her behavior if necessary in the course of time.

 

  • Self-acceptance is necessary:

 

We all have self-esteem but we also have self-acceptance. You need to have acceptance, no this does not mean that you must like or dislike anything, but this means that you must be able to become at ease with the situation you are into and accordingly adapt and behave.

 

  • Self-responsibility:

 

You must stop acting as a victim and take responsibility for your actions and their outcomes. If you behave as a victim, it means you are not in your control and are dependent on others.

 

  • Self- Assertiveness:

 

This is all related to negotiations and gains. It is something that describes what we want and how we own ourselves.

 

  • Living Purposefully:

 

This is clear; one has to have some goals to live purposefully. Being a high-achiever and independent is essential to lead a successful life.