Top books suggested by the Billionaire’s and millionaire’s that changed there life.
The one big difference between the people who have money and the one who don’t have is money is there thought process or mindset.
Books help the person to shape his thought process and mind set and it has helped many businessman. Once the mindset is changed you start thinking differently and start making money from the hard work.
1. The Intelligent Investor by Benjamin Graham
The book was published in 1949 and Warren Buffet was influenced by it. The book has all the information about value investing or buying the stocks when they are undervalued.
Benjamin Graham is considered as one of history’s top investors. Graham teaches the basics of evaluating a stock’s investment opportunity and what makes a business fundamentally strong which can grow business and generate profits.
How it influenced Warren Buffett?
When Warren Buffet was 19 years old he accidentally bought the book “The Intelligent Investor” and later read the books dozen of times to understand the philosophy of investment which he uses to this day.
Warren Buffet said that the book “changed his life” . The book gave me a philosophy on investing that made sense. He taught me how to think about the stock market. He taught me that the market was there not to instruct me, but to serve me.
Benjamin Graham later become Buffett’s mentor and hero.
2. The “Foundation” Series by Isaac Asimov
The Sci-fi series has 7 books.
What the book’s about: A visionary math professor predicts the fall of a galactic empire. As a dark age takes over, he crafts a plan to send scientific colonies to distant planets to help civilization cope with this unavoidable disaster.
The influenced Elon Musk and he read the book more then once and Musk also said the series “Foundation” has been “fundamental to the creation of the company SpaceX.”
Elon Musk said , “The lesson I drew from that is you should try to take the set of actions that are likely to prolong civilization, minimize the probability of a dark age and reduce the length of a dark age if there is one.”
The books taught Elon Musk that civilization moves in cycles and it encouraged the entrepreneur to make a new company named SpaceX and pursue his ambition to take life to Mars.
“Given that this is the first time in 4.5 billion years where it’s been possible for humanity to extend life beyond Earth”
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3. Money: Master The Game by Tony Robbins
Money: Master The Game explain seven simple steps to financial freedom, based on the advice of the world’s best billionaire investors, interviewed by Tony Robbins.
Summary of the book- Tony Robbins dedicated ten years of research to this book. The books is based on the tips and tricks used by the millionaire and billionaire. The book contains everything from mindset changes to saving tips to asset allocation.
Tony Robbins wrote this book after interviewing more than 50 financial expert and conclude 7 main points which will hep you get the financial freedom. Robbins guides readers, of every income level, through the steps to become financially free.
Favorite Quote of the book
“You either master money, or, on some level, money masters you!” — Tony Robbins
Key points of the book-
- Never underestimate the power of compounding interest. (Compounding Interest means- The internet you earn on your Interest)
- Divide your investments by using a 3-bucket system: A dream bucket, a security bucket, and a growth bucket.
- Pick any one of three financial goals to show yourself you can achieve the financial freedom : basic expenses, basic + fun, or financial independence.
4.The Millionaire Fastlane by M.J. DeMarco
The Millionaire Fastlane is about getting rich and retiring in 10 years instead of working for 40 years and then retiring. It may sound unrealistic now but MJ DeMarco offers hard-earned business wisdom based on his success after making millions of dollars from building a limousine booking website.
Favorite quote from book –
” Many people want to change their life, but they are not willing to change their choices, and ultimately this changes nothing.” M.J. DeMarco
Summary of the book- Most of us are taught by our parents and society to get a good degree, get a good job, work hard, save, invest, and hopefully retire rich by 65. However, this is a not the correct approach according to self-made millionaire M.J. DeMarco. In The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime! DeMarco presents a roadmap for anyone to become truly wealthy in 10 years or less.
The road map of becoming Wealthy
• Your Roadmap = the beliefs that guide your actions, like a compass.
• Your Vehicle = You. Since your level of wealth depends on the person you become, you must personally drive the vehicle.
• Your Roads = Your financial pathways. There are many ways to make money as an employee, self-employed or business owner.
• Your Speed = Execution, or how rapidly you move from idea to implementation.
5.Secrets of the Millionaire Mind by T. Harv Eker
Secrets Of The Millionaire Mind suggests our financial success is predetermined from birth and it shows us what to do to break through mental barriers and acquire the habits and start thinking like a rich.
Favorite quote from book-
“If you want to change the fruits, you will first have to change the roots. If you want to change the visible, you must first change the invisible.”- T. Harv Eker
Summary- In “Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth”, T. Harv Eker tells how to identify and revise your money blueprint and work plan, to increase your income and accumulate wealth.
Eker also becomes millionaire in 2½ years by using these principles. The idea of the book is to combine your inner mind game (your tool box) with your outer game (the tools) to get rich and accumulate wealth.
Here are 3 lesson to help you change your money mindset-
- If you want to control your finances, you first have to realize you’re the one at the wheel.
- You naturally tend to replicate your parents’ income strategies.
- Don’t despise rich people.
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