A lot of good personal finance advice is timeless in nature and the 5 books listed below are filled with great advice that will always ring true. If you have yet to read these classics, I highly recommend that you do.
This book by Robert Kiyosaki challenges the traditional thinking that getting a good job, living below your means, and savings for retirement, is the path to wealth. He uses the example of his two dads, one his biological “poor” dad and the other his best friend’s “rich” dad, to debunk that myth and drive home the point that investing in income producing assets (preferably passive) are the real ticket to financial freedom. It is a must read for newbie real estate investors and new business owners.
Originally written in 1937 by Napolean Hill, the text uses 13 principles to call out timeless wealth building principles used by the rich to increase and maintain wealth. Some of the principles are less impacted by time and will resonate more loudly but all of them are foundational to wealth creation and formatting one’s mind to be prepared for success.
Written in the 1920’s by George Clason, this book 7 basic personal finance principles told in bible like parables. The parables include:
1) Start thy purse to fattening
2) Control thy expenditures
3) Make thy gold multiply
4) Guard thy treasures from loss
5) Make of thy dwelling a profitable investment
6) Insure a future income
7) Increase thy ability to earn
This book by T. Harv Eker explores the mentality of millionaires and seeks to help the reader to identify and correct limiting beliefs that may be hindering their ability to reach their financials goals. The basic premise is that thoughts lead to action and that having the right might set will lead people on the path to success.
This book by Thomas J. Stanley and William D. Danko makes the point that everyone can be millionaires if they live below their means and invest wisely. It includes simple but timeless advice and encourages readers to practice delayed gratification by saving/investing now and enjoying the rewards later. The book brings attention to who the average millionaire in America is and it may surprise you.