Building wealth isn’t rocket science, but it does take some effort to understand the dos and don’ts that will get you where you want to be. As a Certified Financial Planner, I am giving you the list of the best financial books… my top five books about understanding money that I recommend to friends, family, clients, or anyone that asks my advice.
Written in 1926, this The Richest Man in Babylon may often get overlooked as a top financial read with some of today’s heavy hitters. However, it’s a book I recommend hands down to everyone that is seeking to gain financial wisdom. It is plain and simple advice set up as common sense stories that will not only enlighten you but keep you entertained as well. It’s just a really good book for those that don’t like to read self-help types of literature that tell you to do A, B, and C to get E, F, and G. Without a doubt, it’s a down to earth book chalked full of knowledge that if followed will help you get on the financial track you’ve been looking for.
The authors of The Millionaire Next Door delves into the spending habits of those that would be deemed millionaires based on net worth. This is often the first financial book I suggest to my clients that are business owners. It gives readers a calculation to help them see exactly how they’re doing right now. That formula takes their age and multiplies it by the annual gross income and then divides the answer by 10—giving them their net worth at the moment and letting them know if they are on their way to being “the millionaire next door”. It also offers practical tips to help grow that net worth no matter where they’re at in the process.
This is another old book, published in 1937, that is actually considered the original motivational book. It’s one of the founding books that every financier will ever read. The premise of Think and Grow Rich is what makes a winner—basically how to succeed at whatever you do in life. Hill wrote the book during the Great Depression in an attempt to propel his readers to change the course of their future. He basically says—you can do this if you stop and think.
Considered the #1 personal finance book of all time, Kiyosaki tells his readers of two dads…supposedly his real father and the father of his best friend. The two men have completely different attitudes when comes to money—one understands how money works and the other doesn’t. In Rich Dad Poor Dad, Kiyosaki contends that it’s a mindset that will help you develop the habits you need in order to build wealth, claiming it’s not where you were born…it’s not the circumstances you face in life…it’s basically all about your habits.
This is one of the top books for figuring out where you need to start. I give this book to people that come to me and are in trouble with debt or they just need help. For those that have made unwise decisions and may be financially anemic, I absolutely recommend The Total Money Makeover to help them get on the track to success. It doesn’t matter if someone didn’t start well; you can definitely finish well if you follow the plans laid out in Total Money Makeover.
These books are all in my personal library and have been read by myself, my family, and my staff many times. I do recommend heading over to your local library and checking them out. If you prefer to own them (as I do) we have made it easy for you to order… simply click on the book’s image and you will be whisked off to Amazon.com for great deals on them.
Though not strictly a financial-only book, I would like to also like to recommend my first book: The Ultimate Sale to any of you that own a business and plan to retire (and who isn’t). In it I challenge business owners to start thinking about the business as more than simply a paycheck. We discuss how to grow it in ways that not only increase day-to-day efficiencies but also its value as a sellable asset. It is available on Amazon in print, ebook, and audio versions.
Here at Financially Simple™ we want to help you make informed financial decisions for your small business with confidence. In doing so, we might recommend products and services that offer us compensation when you use them. This compensation is used to help offset the cost of creating the content we give to you for free. We will, however, never suggest products/services solely for the compensation received. As stated before, our goal is to make understanding money for you the business owner, your family, and anyone visiting this website—financially simple.