Books You Should Read To Grow Financially And Increase Your Wealth
I probably get asked this question more than any other: What books should I read to learn how to invest and build my wealth?
Most people will say you should read Rich Dad Poor Dad, The Intelligent Investor, or any book about Warren Buffet.
These are all good recommendations… but…
You will never grow financially or increase your wealth until you properly develop yourself.
Qualities like manners, confidence, knowing how to speak well, knowing how to connect with others, and numerous other characteristics of the wealthy are what you should learn first.
With that in mind, you should read all of the Dale Carnegie books. They are just as pertinent today, as they were decades ago.
Start with How to Win Friends and Influence People.
Then read The Quick and Easy Way to Effective Speaking.
How to Stop Worrying and Start Living.
Dale Carnegie has many more books and shorter guides available as well.
Your next author should be Napoleon Hill.
First, read Think and Grow Rich.
Then read Outwitting the Devil, which is my personal all time favorite book.]
Most people believe that reading and then learning about some investing strategy will somehow lead them to riches. This is total BS.
Here is something that most people don’t like to hear: There is no magic key that unlocks riches.
There are, however, a variety of personality traits and actions that lead people to massive amounts of wealth.
- Look at what Warren Buffet’s patience has created.
- Watch any of Floyd Mayweather’s video profiles to see how insanely committed and confident he is.
- Read about Bill Clinton’s intoxicating personality.
All of these wealthy people have much more than ‘investing know-how.’ They have first mastered their own selves in order to influence their surroundings.
I agree. Developing one’s mental toughness and soft skills are just as important as the strategies and techniques of investing, and I think many people underestimate this.
Also, I’m a big believer of getting started before we’re ready. For investing or life. Most of the significant progress I’ve made in my own life was made when I jumped in before I knew all the answers and was willing to fail or look stupid temporarily in order to make progress overall. When we bought our first investment property we didn’t have all the answers. We had some basic indicators and a general idea that property investing was the direction we ultimately wanted to go in. And then we took the leap and have been greatly rewarded because of it.
I think your readers Cody probably know this kind of thing already, but it’s always good to have this reminder.
I admit I wasn’t sure about the Outwitting the Devil book when I first read this (Cody’s favorite book, really?) but after I started reading it, I get it, and it’s partially the same thing you said.
Getting started BEFORE you’re ready (you can always find an excuse to say you aren’t ready). Some people might call that ‘the devil’, but whatever you call it, the point is to get started.
Thanks Cody for a surprisingly great book recommendation.