For anyone especially inclined/interested in finances and investing, here is the filtered list of the financial reading I've completed, enjoyed, and now recommend. For a full list of my financial readings, refer to my monthly reviews! (Updated once a month!)
The Millionaire Fastlane: All I can say is WOW! The Millionaire Fastlane is literally the BEST book on financial independence I have ever read! MJ DeMarco takes you through the mathematical equation that led him from delivering pizzas while living with his mom to becoming a self-made multimillionaire before the age of 30. Honestly, MJ's teachings have made me reconsider so many of the ideals I held about generating wealth and gave me the kick in the tail needed to form the aforementioned Etsy store. I can't rave enough about the greatness of this book or what it will teach you, but to dumb it down to a quick explanatory level, it's an in-depth guide focused on changing your mentality to MJ's "Fastlane" so that you can accomplish in years what others take a lifetime to. This is a MUST-READ for every entrepreneur or anyone who wants to be financially free. I always have a little disclaimer at the bottom of my page, but 'd like to stress that I have not been paid to read or review this book - it's just an incredible read. Every line in it is gold! Really, it's so good that I'm rereading it right now because I want to absorb any content that might have slipped through the cracks the first time. If only ever read one book to read on finances, this should be it. READ IT!
Takeaway: There are three lanes: Sidewalk (those living for today), Slowlane (those living for a distant tomorrow), Fastlane (those who control their present and future).
Masters of Doom: How Two Guys Created an Empire and Transformed Pop Culture: A thoroughly enjoyable read, Masters of Doom walks through the two heroes' early lives, their individual accomplishments before meeting, their journey together, and follows them briefly after their split. Aside from forming a keystone in the history of videogaming, the two Johns are a perfect example of business partners that work - coming together to form an ultimate product! I recommend it as a solid read, as well as a quick reference for any entrepreneur. Most importantly, reading this reignited my desire to develop video games and inspired me to found a Android game developing "company" and begin my first game - to hit the market soon!
Takeaway: If you build it (correctly), they will come.
Rich Dad Poor Dad: Great book! Reads very casually, like you were talking with a friend. Robert Kiyosaki’s journey in seeking mentorship from a self-made financial success is invigorating and has a karate kid-esk feel to it!
Takeaway: The idea of “Don’t think ‘I can’t afford it‘, think ‘How can I afford it?”
The Richest Man In Babylon: A very interesting read which follows a series of real, ancient characters who lived in Babylon when it had the reputation of being a city of wealth. It contains historical data emphasizing the importance of education and shows that attaining wealth hasn’t changed over the course of the 3,000-something years in between our time and theirs.
Takeaway: Regardless of your beginnings, hard work and being intentional with your money will guide you to financial success!
The Little Book That Still Beats the Market: An easy-to-read book on understanding stocks and the overall market. It was written for Greenblatt’s teenage children so the language flows well, includes humor, and isn’t over-complicated like other books in the field. TLBTSBTM focuses on investing in companies that performed very well last year and that have a good expected returns, as well as a good mix of assets in their total net worth. Essentially, targeted value stocks. By diversifying and repeating this process, Greenblatt claims that within a three-year period, you will beat the average market return (using historical evidence as an indication of the future).
Takeaway: Greenblatt’s formula has always worked in three-year periods in the past. If you believe the that past repeats itself, this could be a very useful formula.
The Millionaire Next Door: Very informative and gave great numbers, though getting a bit outdated. If you have already studied the subject of financial independence and have the general idea of “don’t spend money on things you don’t need” down, then this book will not benefit you at all, aside from giving you a good few debate points.
Takeaway: The equation for determining if you are ‘wealthy’. It is (Age*Taxable Income)/10. If you have that amount or more, congratulations! I’m not there yet. It is worth noting that I believe this equation has in mind people who have already been working for some time. If you’re new to the workforce (like myself) then I suggest thinking of how long it will take to reach the equation’s result.
Recommendation Notes: I only recommend it if you are very new to the subjects of financial independence and attaining wealth or really enjoy statistics.
What I'm Reading Now
The Intelligent Investor by Benjamin Graham
A Random Walk Down Wall Street by Burton Malkiel
(Note/Disclaimer: None of these associations have paid me or asked me to advertise their name or products. These are products that I use, have used, or find beneficial. Links to services may be affiliated, but if so they come at no charge to you and will NEVER come at your expense. In fact, registering through some affiliate links may give your account additional benefits.)