Recommended Books
Knowledge is power and I cannot stress the importance of educating yourself financially. I personally read and do research for one to two hours every night before going to bed. I highly recommend that you all educate yourselves financially as much as possible for the advice given to you by others may not always be in your best interest. It is important to have to have a solid understanding of your finances and investments in our mission for financial independence.
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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money — That the Poor and Middle Class Do Not! Great book for beginners. You should start reading a book like this to begin your journey in the financial world. Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multi-millionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his “poor dad” (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his “rich dad” (that “the poor and the middle class work for money,” but “the rich have money work for them”). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of ”financial literacy” that’s never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. |
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The Total Money Makeover: A Proven Plan for Financial Fitness “Winning at money is 80 percent behavior and 20 percent head knowledge.” So states Ramsey, author and radio show host, offering a comprehensive plan to get out of debt and achieve financial fitness. Our current financial position represents the sum total of the decisions we’ve made to this point, he tells us, and we must take personal responsibility for our financial problems. His seven-step plan includes paying off all debts except the home mortgage at an accelerated speed, creating a financial safety net that covers three to six months’ expenses, investing 15 percent of income in a retirement fund, and saving for children’s college expenses. He effectively shows how regular people can rid themselves of debt and grow their wealth using current income. While many of Ramsey’s concepts are not new, his simple approach and client testimonials will resonate with a broad range of library patrons. This is important information in a society buried in debt, with unprecedented numbers of people facing bankruptcy. |
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