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Esther.Dumbiri posted a topic in Book Reviews and RecommendationsWhen it comes to learning about investment, there are several classics on investing that make for great reading. The internet is surely one of the fastest, most up-to-date ways to make your way through the jungle of information out there, but if you're looking for a historical perspective on investing or a more detailed analysis of a certain topic, books will always come to your aid. You can read books with sound financial advice, but if you lack the mind-set to truly build wealth, it will be difficult to achieve financial success. These books are mind-changers! Here we give you a brief overview of these books to set you on the path to investing enlightenment. 1 Rich Dad, Poor Dad (2000) by Robert Kiyosaki This book has been around for a while now, but it’s quite possibly one of the best overviews on wealth building. It deals less with specific moneymaking strategies and more with the mind-set that is necessary to achieve great wealth. Rather than focus on concrete steps for what people can do to fix their financial life, the book presents an alternative mind-set about money. According to Kiyosaki, the rich teach their children a fundamentally different view of the financial world. Kiyosaki's view is that the poor and middle class work for money, but the rich work to learn. He stresses the importance of financial literacy, and presents financial independence as the ultimate goal in order to avoid the rat race of corporate America. The book is built on his early life experience as a child of a well-educated, high income, but perpetually broke father, in comparison to the father of his best friend, who was poorly educated, but a multimillionaire. Kiyosaki's message is simple, but it holds an important financial lesson that may motivate you to start investing: the poor make money by working for it, while the rich make money by having their assets work for them. Kiyosaki advocates investments that produce periodic cash flow for the investor while providing upside in terms of equity value. Real estate investments and stocks that provide dividends are viewed favourably. Real assets add cash flow to your wallet. For example, the book points out that working hard and even earning a high income are not enough to ensure financial success. Rather, the book emphasizes that the rich work smart and spend more intelligently. 2. The Intelligent Investor (1949) by Benjamin Graham The Intelligent Investor is the grandfather of investment strategy books. This book has been hailed by Warren Buffett as the best investing book ever written. Author Benjamin Graham is regarded as the father of the value investing. Graham delves into the history of the stock market, and informs the reader on conducting fundamental analysis on a stock through developing long-term investment strategies and avoiding significant errors. He discusses various ways of managing your portfolio including both a positive and defensive approach. He then compares the stocks of several companies to illustrate his points. The book stresses the importance of fundamental analysis and truly understanding your investments. By learning to analyse potential investments in depth, investors can learn how to spot under-priced stocks backed by robust companies which is determined through fundamental analysis. The central tenet of the book is that a scientific approach should be used when directing your investments. Reading this book, you will learn to keep your emotions out of your investments, and develop a sceptical stance towards anything resembling the type of hype that so often gets the average investor into trouble. The Intelligent Investor won't tell you how to pick stocks, but it does teach sound, time-tested principles that every investor can use. 3. Real Money (2005) by Jim Cramer Popular TV financial analyst Jim Cramer's "Real Money" has continued to sell well since its 2005 debut. The book provides a basic play-by-play analysis of the basic techniques that Cramer advocates for buying stocks. This is not the book for those who want set-it-and-forget-it investments. Cramer does NOT advocate "buy and hold" but rather "buy and homework" meaning that investors spend at least one hour per week analysing each position held. While this ‘homework’ can quickly become a large time commitment, Cramer recommends that investors remain diversified. This may not be the right book for every investor, but if you are interested in the types of things that a hedge fund manager thinks about all day, or if you hold a diversified portfolio, you will enjoy this book. To be continued…
Author: Nimi Akinkugbe Number of pages: 274 Whether you are just starting out and in your first job, financing your children's education, buying a property, approaching retirement, or somewhere in between, you need to take your personal finances seriously. In A-Z of Personal Finance the author, with a professional background of over two decades in banking and private wealth management, provides you with important practical information and useful tips on matters concerning you and your money. Personal Finance Expert & CEO of Bestman Games, Nimi Akinkugbe knows that a lot of people are worried about their personal finances. The A to Z of Personal Finance is a collection of words, topics and terms that are associated with the subject of personal finance. In this book, Nimi Akinkugbe focuses on some of the most significant principles used in her saving and investing philosophy. The purpose the book is to remove the mystique surrounding savings and investments, while dispelling the misconceptions attached to them. This book provides readers with concise information and tips on matters concerning the management of their money. A certified page turning book on money. The book seeks to empower people concerning their finances. In this book, she presents candid, useable insights and advice in understanding and managing personal finances and wealth. This book is highly recommended and won't amount to a waste of your precious time.
Esther.Dumbiri posted a topic in Book Reviews and Recommendations. Author: Alex Becker Number of pages: 200 Found listed and reviewed on Amazon, the book, The 10 Pillars of Wealth: Mind-Sets of the World's Richest People, makes you think like a multimillionaire: and pushes you to leave the 9 to 5 behind. The world has led you to believe that financial freedom is not something you can willfully create in your life. You have been taught to view wealth as something that happens only to a lucky few who win a random business lottery or are blessed with unimaginable talent. The TRUTH is that creating excessive financial wealth does not come down to luck or talent. It comes down simply to your beliefs, understanding, and views--the ''pillars'' that reinforce your every action. Alex Becker not only breaks down the most important pillars for you but also shows you how to bring them into your life TODAY to begin generating lifelong financial freedom. Discover how to: Successfully quit your 9 to 5 and take back your life without taking massive financial risks, Separate your time from money so that you are constantly getting paid (even in your sleep), Understand the lessons multimillionaires have learned through years of trial and error, Map out the exact steps needed to build million-dollar businesses, Skip time-wasting mistakes and learn how to make money quickly by focusing solely on what gets you paid. In this fantastic book the author Alex Becker sets out to delineate the 10 most important concepts and mindstates behind getting rich in "Pillars" (that are the fancy equivalent of chapters). In each Pillar would find a notion to reject or except, or a mind-state, which then gets expounded upon in greater detail. The author is concise and to the point and incorporates a plethora of very good and relevant real-world examples. Pillar 1 ("Rejecting Getting Rich Slow") for example, refutes the glorified notion that the "right way" to be successful is to go to college, get a degree, work everyday for a salary; weekends off; spread out vacations, with slightly inclined pay raises and a good enough salary to eventually retire semi-satisfactorily later in life. Apparently, they say that it's "safer" to minimize risks (that the wealthiest self-made millionaires take) in your career and live just to insure a more guaranteed path to success and financial freedom. The author utterly rejects this notion. Pillar 4 ("Knowing Every Little Thing is 100% Your Fault") has to do with mind-state and as it's title states believing that every action you take is 100% your fault, and that when you take responsibility for all your circumstances; despite it's uncorrelated nature with your volition, you become more adept at manipulating your life situation. This as you may notice is a very common mindstate of the very successful. Pillar 6 ("Forgetting 'What If' And Focusing On 'What Is') is similar to Pillar 4 in a sense of the mindstate needed to endure, and most importantly get started. Many times in life we play hypothetical scenarios in our head of what will result in the actions we take rather than just taking them and calibrating, figuring out, and learning from them there and then. Pillar 8 ("Focusing Solely On What Gets You Paid") is a plan of action that states that you should put most if not all your efforts on the activities you undertake that ultimately get you paid. Other less profitable tasks should be outsourced and overall there will be a net benefit. There's a "Secret Pillar" that is very motivational. There's a bonus chapter that talks about the different kinds of online companies you can start and it outlines the details of each. Do you want to know about the remaining pillars? Buy the book today. If you want to get serious about changing your financial future, this is a MUST HAVE book.
Esther.Dumbiri posted a topic in Book Reviews and RecommendationsAuthor: Dave Ramsey Number of pages: 352 In this book, Dave Ramsey takes the time to address techniques for true wealth-building, not just the financial kind. He points to the strength in character and values. This book challenges us to look inward. Where do our true values and visions lie? When you find that answer, you know where you are. When you create that answer, you put yourself where you want to be. Mr. Ramsey's wise counsel will lead many to become prosperous, and his wife's tidbits made the whole book come together. They work as a team. Here is what Amazon review has to say: In his first bestseller, Financial Peace, Dave Ramsey taught us how to eliminate debt from our lives. Now in "More Than Enough," he gives us the keys to building wealth while also creating a successful, united family. Drawing from his years of work with thousands of families and corporate employees, Ramsey presents the ten keys that guarantee family and financial peace, including: values, goals, patience, discipline, and giving back to one's community. Using these essential steps anyone can create prosperity, live debt-free, and achieve marital bliss around the issue of finances. Filled with stories of couples, single men and women, children, and single parents, More Than Enough will show you: 1. How to create a budget that fits your income and creates wealth 2. What finances and romance have to do with one another 3. What role values play in your financial life 4. How to retire wealthy in every way And much, much more More Than Enough provides an inspiring wealth-building guide and a life-changing blueprint for a vital family dynamic.