The book starts with an Canadian couple who manages to retire early with savings of $1 million. By adopting Bach’s steps and plans. Anyone can, over time, turn a modest income into a fortune.
The Automatic Millionaire gives you a step by step plan to be financially free. The book’s main focus is the importance of setting up automatic savings and investing plans. It teaches you to set financial goals. It is important to avoid living an over the top lifestyle and to live below your means. Try to start early to take advantage of compound interest.
One of my favorite quotes from the book is: “You need to treat money the way the rich do – make money work for you instead of working for it.
2. “I Will Teach You To Be Rich.” by Ramit Sethi
The author and founder of GrowthLab.com explains various concepts about money and finance using the four pillars of personal finance.
My favorite quotes: “It’s more important to get started than to spend an exhaustive amount of time researching”
“The key to using credit cards effectively is to pay off your credit card in full every month.”
3. “The Money Book for the Young, Fabulous & Broke.” by Suze Orman
This book is Suze Orman’s answer to the in-debt and broke generation’s cry for help. The book was written to address the specific financial reality that faces young people today and offers a set of real, not impossible, solutions to the problems at hand and the problems ahead.
Favorite quote: “If you own dozens of stocks, you will minimize the chance that any single problem will sink your ship.”
4. “Total Money Makeover.” by Dave Ramsey
Dave Ramsey’s central principle is to use the “snowball” method to get out of debt. He then teaches you to stay out and to build your financial future in steps.
My favorite Quote: “We buy things we don’t need with money we don’t have to impress people we don’t like.”
5. “The Millionaire Next Door.” by Thomas J. Stanley and William D. Danko
“The Millionaire Next Door” give s a true picture of what a true millionaire really is. The books authors have studied millionaires and give you their simple spending and saving habits.
My favorite quote from the book: “Whatever your income, always live below your means.”
6. “The Science of Getting Rich.” by Wallace D. Wattles
Wattles’ intention was to provide a set of action steps, combined with a way of thought that leads to achievement. You become abundant by using your creative imagination to develop a plan to add great value to others. The more you help people get the things they want, the more wealth and abundance will flow to you. Rhonda Byrne, the creator of “The Secret”, said that Wattles’ book was her inspiration for creating the film and book “The Secret.”
My favorite quotes are: “The more gratefully we fix our minds on the Supreme when good things come to us, the more good things we will receive, and the more rapidly they will come;….”
“By thought, the thing you want is brought to you; by action you receive it.”
7. “Atomic Habits.” by James Clear
The author an expert on habit formation, reveals practical strategies that will teach you how to form good habits, break bad ones, and master the tiny behaviors that lead to remarkable results. Atomic Habits is the definitive guide to breaking bad behaviors and adopting good ones.
My favorite quotes: “Goals are good for setting a direction, but systems are best for making progress.”
“Some people spend their entire lives waiting for the time to be right to make an improvement.”
8. “The Millionaire Fastlane.” by MJ DeMarco
The author tells you that the old idea of going to school, getting a job, and working hard is not the way to go. He shows you a new path to retiring young.
His advice is don’t trade your time for money and don’t think like a consumer, think like a producer.
Favorite quote: “Many people want to change their life, but they are not willing to change their choices, and ultimately this changes nothing.”
9. “Money: Master The Game.” by Tony Robbins
Tony Robbins interviewed billionaire investors and based on their advice, gives you simple steps to be financially free . The transcripts of the interviews will amaze you.
My favorite quote: “You either master money, or, on some level, money masters you!”
10. “Secrets Of The Millionaire Mind.” by T. Harv Eker
Are you destined to be rich or are you going to struggle financially the rest of your life? Maybe it’s because of your intelligence, work habits, contacts, skills, education, luck, timing, or your choice of jobs. No, probably not. Rich people think and act differently than most poor do. There are steps you can take to dramatically increase your income and accumulate wealth. In the book there are “wealth files,” that will show you how to think and act differently to become more successful.
According to T. Harv Eker, it’s simple. If you think like rich people think and do what rich people do, chances are you’ll get rich too!
One of my favorite quotes from the book is “It’s not enough to be in the right place at the right time. You have to be the right person in the right place at the right time.”
Thank you for reading this article, I hope you found it interesting and educational. Reading is important in so many ways. It helps you communicate and understand others. Reading improves you as a person. It will help you start your business or if you already have one, reading will help you run it better. I plan on adding more lists of books in different categories. If you have any suggestions, comments, or questions, please let me know. And please share this site with your friends and online. Thanks, Mike.
