Thread by @BrianFeroldi

1/ The 15 books about money that changed my life

and the key lessons from each of them (with graphics)

Who's up for a 🧵 about improving your money mindset?

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2/ Rich Dad, Poor Dad

1⃣Acquire assets, not liabilities
2⃣A house is a liability
3⃣You are in business for yourself
4⃣Work to learn
5⃣Failure inspires winners
6⃣Network
7⃣Pay yourself first
8⃣The rich don't work for money; money works for them
9⃣You get rich at home, not at work

3/ The Wealthy Barber by @wealthy_barber

1⃣Pay yourself first
2⃣One dollar saved is two dollars earned
3⃣Common sense + discipline is all you need
4⃣Society doesn't want you to save
5⃣Your "wants" will never be satisfied
6⃣6 month emergency fund = must

4/ Millionaire Next Door

1⃣Ordinary people can become wealthy
2⃣Live below your means
3⃣Age x (income/10). Compare this to your net worth
4⃣Don't subsidize your adult childrens' lifestyle
5⃣Use your time wisely
6⃣Pick the right occupation
7⃣Minimize taxes
8⃣Avoid debt
9⃣Invest

5/ Your Money or Your Life

1⃣Find your level of "enough"
2⃣Calculate your "real" hourly wage
3⃣Track every cent
4⃣Cost of anything = life energy spent
5⃣Align spending with values & purpose
6⃣Financial independence = freedom

6/ Choose FI by @ChooseFi

1⃣Start with "why"
2⃣Develop a growth mindset
3⃣Become a "valuist"
4⃣Hack college cost
5⃣Build a network
6⃣Invest simply
7⃣Travel hack

7/ Richest Man in Babylon

1⃣Save at least 10% of your income
2⃣Don't confuse necessary expense w/ desires
3⃣Invest wisely
4⃣Own your home
5⃣Improve your ability to earn

8/ The Psychology of Money by @morganhousel

1⃣No one is crazy
2⃣Wealth is what you don't see
3⃣Save like a pessimist, invest like an optimist
4⃣Build in room for error
5⃣Progress is slow. Setbacks are fast.
6⃣Bubbles form when investing horizons shorten

9/ Rule Makers, Rule Breakers by @themotleyfool

1⃣Invest in "top dog and first-mover"
2⃣Must have sustainable advantage
3⃣Look for good management and smart backing
4⃣Strong past price appreciation
5⃣Consumer appeal
6⃣Find companies that are "overvalued"
7⃣Buy great companies

10/ The Simple Path to Wealth by @JLCollinsNH

1⃣Debt is a burden
2⃣You need "F-You money"
3⃣Invest in index funds
4⃣The market always goes up
5⃣Expect crashes, they are normal
6⃣Withdraw 4%/year at "retirement"

11/ One Page Financial Plan by @behaviorgap

1⃣"Why is money important to you?"
2⃣Know where you are today
3⃣Save as much as you reasonably can
4⃣Avoid big mistakes
5⃣Hire a "real" financial advisor
6⃣Behave for a long, long time

12/ 7 Habits of Highly Effective People

1⃣Be Proactive
2⃣Begin with the end in mind
3⃣Put first things first
4⃣Think Win-Win
5⃣First seek to understand, then be understood
6⃣Synergize
7⃣Sharpen the Saw

13/ One Up On Wall Street

1⃣Everyone has the brainpower to pick stocks
2⃣Buy what you know
3⃣Buy in the 2nd, exit in the 7th
4⃣There's only 1 reason stocks go up
5⃣Don't predict stock market
6⃣Do the homework
7⃣If your right 60% of the time, you're doing great

14/ My Total Money Makeover by @DaveRamsey

1⃣Save $1,000
2⃣Eliminate Debt
3⃣Build an emergency fund
4⃣Invest
5⃣Save for college
6⃣Eliminate mortgage
7⃣Give!

15/ Antifragile by @nntaleb

1⃣Life is unpredictable
2⃣Make your finances anti-fragile

16/ There are TONS of other great books about money

I keep a list in my "Book recommendations" tab of my public investing checklist

docs.google.com/spreadsheets/d…

17/ If you like these simple graphics,

I email them daily for free

Interested?

brianferoldi.substack.com