THREAD // Short summaries of popular finance books
Richest Man in Bablyon: Spend less than you earn and invest the difference. Avoid buying things that have little or no value after a few months. Spend time accumulating skills and knowledge that others will pay you for.
Richest Man in Bablyon: Spend less than you earn and invest the difference. Avoid buying things that have little or no value after a few months. Spend time accumulating skills and knowledge that others will pay you for.
I Will Teach You to Be Rich: Buy a home within your means. Always negotiate salary. Negotiate when buying a car. Keep your cash in online accounts that pay more interest than traditional big banks. Automate savings and investments. Invest in low-cost index funds.
The Millionaire Next Door: Research shows that most households with a net worth above $1 million live in a "stealth wealth" manner, choosing to live in ordinary homes, drive ordinary cars, dress in ordinary attire, and mostly avoid buying status objects.
The Behavior Gap: The behavior gap refers to the gap between investment returns and investor returns. Due to fear, greed, and irrationally, most people buy and sell at the wrong times and lose money. The best investment strategy is often the simplest investment strategy.
A Random Walk Down Wall Street: Most people can't time the market and most people can't beat the market.
Stocks for the Long Run: Stocks have historically been an incredible long-term investment. But the only way to enjoy
stock returns is to hold them "for the long run."
stock returns is to hold them "for the long run."
Rich Dad Poor Dad: Assets are things that grow in value over time. Liabilities are things that decrease in value over time. Acquire assets. Avoid liabilities.
