First of you are lucky to come across this. Second of all you must be smart if you are looking into these things already. So congratulations. This post comes with a tiny bit of pre-work. Before you read the rest of this and the books, convince yourself on the power of compound interest. If you are convinced, great. Read below. If you are not convinced, I wish you all the best in your quest to dominate the artificial intelligence field (change this with the latest trend on tech whenever you happen to be reading this) with your start-up. It could happen you know.
Good Luck! You’ll need it.
#1 Unshakeable by Tony Robbins
This post is turning into a bit of an instruction manual but if you haven’t read any Tony Robbins, you probably should. In this book, he basically talks through why most of the current financial industry is geared towards benefiting the finance professionals (unsurprisingly when you come to think of it) and how you can take yourself out of that game (or never go in in the first place if you are 25) to set up an easier way of investing. The key is Index investing. Lots more useful detail in the book. If you want to go deeper, Money from Tony Robbins does just that.
#2 Simple Path to Wealth by JL Colins
Builds on the same ideas as Unshakeable but is even simpler to engage with. It gives you the details of the specific funds to invest in and unlike Unshakeable which is really US focused this provides some views on how you can replicate the recommended strategy outside of the US. Very useful little book.
#3 Think and Grow Rich by Napoleon Hill
Unlike the other 2 books this is quite old, was written in 1937. So, don’t expect any tips on Index Investing with Vanguard funds on this one. In fact, this focuses on the attitudes, mentality and behaviors to get to the financial position you want to achieve. A little bit corny in places but there is a reason why it’s still one of the best sellers in the financial advice. There is good rule of thumb (don’t quote me on this but from Naseem Taleeb I believe), when it comes to ideas the ones that stand the test of time are the ones you should engage with. With that endorsement and social proof (both of which I might just have made up) what else are you waiting for? It’s a good book, don’t worry.
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