Four Books To Motivate You To Get Rich

Written by Vidya Kumar

September 19, 2018

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Executive Summary: Warren Buffet reads for about 5 to 6 hours a week. Bill Gates reads a new book every week. Most successful people list out reading as one of the factors for their success. Here is a summary of four books that you can read to make your financial life better.

There are scores of books on the topics of finance, investment and getting rich. Here is a summary of four books that I find relevant and interesting –
Think and Grow Rich By Napoleon Hill
Book Quote – “There are no limitations to the mind except those that we acknowledge.” 
This book, though written in 1937 is relevant even today. Napoleon Hill talks less about financial planning, budgeting or investing but more about the power of thoughts and action. He has interviewed more than 500 people successful in different walks of life and compiled their views, ideas, thoughts and actions into 13 principles to be followed for success. The book talks about how one must control one’s thoughts and subconsciousness and have faith in one’s decisions. This mental transformation will lead us to take actions to achieve our desires.

Rich Dad Poor Dad by Robert Kiyosaki
Book Quote –  “Most people fail to realise that in life, it’s not how much money you make, it’s how much money you keep.”
The book tells the story of two people – Robert Kiyosaki’s dad and his best friend’s dad and their way of dealing with finances. Though there are controversies around the book that the story is made up, it nevertheless is a good book with solid financial advice. He considers the main difference between the rich and poor is financial literacy. The rich make their money work for them by being entrepreneurial, financially literate and fearless. They are also generous and at the same time always ask the question – “What is in it for me?”
​To become rich, one should formulate a plan for acquiring assets, reducing liabilities, paying oneself first in terms of investments and savings.  

I Will Teach You To Be Rich by Ramit Sethi
Book Quote – “The single most important factor to getting rich is getting started, not being the smartest person in the room.”
Ramit Sethi’s book is an easy and witty read. He asks you to take charge of your financial life today. The book lists out the essential things to do like reducing debt, building an emergency fund and investing. Formulate a conscious spending plan to take care of necessities, savings, investing and then spend the rest on non-essential items or luxuries. You can become an expert in finances with some quality research and learning and take care of your investments using the Internet. The book has many examples to simplify concepts and has actionable steps to improve your financial life. The book is more geared towards readers in United States but still is a good book to understand personal finance.

You Can Be Rich Too : With Goal Based Investing by P V Subramanyam and M Pattabiraman
Quote – Returns are not the sole deciding factor of how much money you are going to make from your investments.
The book aims to make investing logical and simple. It caters to beginners by describing money management in simple terms as well as to experts by having sections on portfolio allocation, links to online calculators such as life insurance calculator, monthly investment tracker, time value of money calculator etc.
The book covers topics such as evaluation of current networth, goal setting, risk management, mutual funds, insurance and portfolio management. It is a good guide for people who have just started earning money. It lists strategies to fine tune financial portfolio which will help people who already have a financial plan.

Let us know if you have read any of these books and if they helped you in your financial life.

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