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Top three best money books ever written that is what we are talking about today we were talking about life-changing books there are very few books i have ever read in my life that i’m like this could literally change my life or someone else’s life these three books we’re talking about today can literally change your life and it’s not overnight it’s about changing
Your mindset in the way you think about certain things okay so one of these books we’re going to talk about is more stock market related so more towards stock market investing and a couple of other books are more about business building and more about personal finance things and i literally think they are they’re the type of books that literally change people’s
Life guys so i hope you absolutely enjoy this today now you will notice on this list none of these three books are my book okay modern long-term stock market investing secrets i did not include my book in this list i feel like you just can’t include your own products if you’re in and you’re creating like a best list i’m certainly proud of my book it reached best
Seller on amazon that’s freaking awesome the only kind of drawback with my book as far as like you know people that complain does a lot of people didn’t like that i had wrote it because i mean most books that are written out there are written by what professional writers write or they hire ghost writers right every every popular person you know whether it’s gary
Vaynerchuk or all these guys that write books they’re all written by ghost writers they kind of tell them you know the gist of it and their ghost writer who’s a professional writer will actually write that book i didn’t do that i actually wrote that book every single word in that book so that was kind of the drawback there but it still gets like i think 4.5 out of
5 stars on amazon people have really loved the content which just goes into exactly why i invest the way i do what i look for in companies guys so now here we go guys with the list coming in number three is a book called the intelligent investor that intelligent investor one of the first books i ever read on the stock market that i really loved and i thought you
Really explained things very well okay this is a book you’re gonna want to get for yourself if you’ve haven’t hutton yourself this book already or go get it from the library or whatnot by the way i got all these books linked probably in the comments there so you can click on them if you want those are affiliate code so i do make a commission if you buy any of those
Books they’re just for full disclosure there okay guys so the intelligent investor is a phenomenal book it really you in the right mindset for investing in my opinion that’s a big thing and the way you should look at investments and kind of like the way you should value companies and things like that but the most important thing is really setting up your mind and
Understanding mr. market in which you know ben-gurion talks about in the book mr. market now what he’s basically talking about is he’s talking about the opportunities that the market presents itself okay the reason it allows people to make so much money or lose so much money is because the market can be very irrational at times okay it can badly miss prey stocks
This happens all the time it either way over values a company or weight under values a company the opportunity presents itself when you can find those ones that are way undervalued that should not be trading where they’re at invest in those and then hopefully sell it for a fair price or maybe even sell it for an overpriced price right guys that is the goal in and
So the book goes into a lot of the fundamentals now the intelligent investor this is a this a book written by ben graham who influenced warren buffett and who influenced my entire investing style warren buffett’s so warren buffett was influenced by ben graham i’ve been influenced by warren buffett and so a lot of my techniques in investing companies is like 80
To 90 percent warren buffett i’m just a little different and i try to go for a little more growth warren buffett will invest in a company that isn’t growing at all he’ll invest in ones that are growing at a 3% 5% growth clip i’m really trying to find companies that revenues are going up 10 plus percent those are the kind of companies but i still want them for an
Under priced valuation as far as the p/e ratios go great balance sheet a lot of those kinds of things guys so that if you’re going to be on stock market investor i think that’s a phenomenal book only drawback on this book that i get sometimes when i recommend it to people if some people say it is written so long ago is written like i think it was around 60 years
Ago maybe a little important 60 years ago now i was written guys and so some of the language isn’t the most modern language which is funny because some people complain that the way i wrote my book and it was only a few people but some people complain when i wrote my book i used some slang in there and i talk in a very modern modern time of talking so it’s funny
That sometimes people either complain about your talk to modern you use too much slang in a book or you’re you’re too old-school and the language doesn’t make sense guys so that’s kind of the only drawback on that they’re the second my second favorite book is a book called rich dad poor dad written by robert kiyosaki this book is is unreal for a lot of reasons
But the main the main part of this book is you know kind of when he talks about the cashflow quadrant which is robert kiyosaki’s big thing which you can really change your mindset and i’ll kind of explain that to you here guys it’s such it’s such a wonderful thing when you kind of understand the cashflow quadrant and kind of understand you know the you kind of put
Yourself in a situation where what what quadrant am i in here okay so basically you draw this here okay so there there’s four two separate things here alright first is the ease okay this is what most people fall into their employees okay this is the employee category and these people need to obviously get a check okay they they can’t create a check or don’t want to
Create a check one of the two either they can’t they can’t make money on their own or they don’t want to make money on their own these people value safety a safe job benefits and things like that okay they’re employees and that’s what they value in and you know they just live a decent life and those kinds of things some of them are poor unfortunately especially some
Of the lower wage workers but a lot of the middle class or employees right okay that’s their thing they’re really valuing the safety the safety of a job they don’t want to take that risk of starting a business or investing and those kinds of things they have other people manage their money okay they they just have their 401k or whatnot that’s managed by somebody
Else they don’t want to take any risks that that’s a thing they just they’re not they’re not worth the the stress or the risk of doing those kinds of things alright then you have the small business owners now small business owners meaning like they have basically no employees working for them they’re one one man or one woman shop you know and that’s kind of kind of
What they do they don’t have other people making a money they make them themselves money they feel like if there’s a job out there to be done they’re the best ones to do that job okay so a lot of lawyers and doctors and people would fall into that category that that don’t have you know a bunch of employees around them they just fall into this category of a small
Business owner my both my parents would fall into this category of small business owners because neither one of them has employees my dad or my mom they’re just they just self-employed they make their own money they have own businesses but they don’t have employees working for them so that’s a small business owner okay then what you have is these categories over
Here which are really the life-changing ones the ones that you really want to get into okay these are the big first one up here is the big business category which is people that now have hired out employees age might have started as a small firm but they build up to having a big business where they are and hardly even needed at that job anymore they have people
Out there each day who are collecting checks who are their employees who are making them money around the clock okay day in and day out those salespeople are or whatever job they are they’re making them money think about you know jeff bezos jeff bezos with obvious i mean there’s a building you know thousands and thousands of people that would be in this category
Is just thinking about jeff bezos jeff bezos will be in that category because around the clock people are working in those amazon those amazon warehouses working for him okay they’re his employees and they’re filling those packages and whatnot sending them to your house and whatnot jeff bezos making money off of all those people that are doing all those tasks so
The hot thing he’s got well over a hundred thousand employees now at this point working for his business right that’s a big business so you were having people you’re having people make you money when you’re in a big business category and then there’s a last quiet little quadrant down here which is the eye which is investors these people have their money make them
Money okay their money makes them money they collect dividends maybe their stock prices appreciate maybe their real-estate appreciates right maybe they collect rent because their retton out of property right and they’ve paid three hundred thousand for that and they get you know now they get two thousand dollar payment so you know every single month for that property
Right and they get a return on investment within ten years or something like that right so that’s the investor category and then they do it in the next property and next property or the next stock and things like that and they just keep building the pie bigger and bigger so this is really the ideal category you really want to get into you want to get into the big
Business where you have people making you money or software systems and things like that which is a little more new-school type stuff passive income streams you want to get into that site or you want to get into the investor side or possibly both when you get into both that’s really the creme de la creme there when you have passive income stream when you have
People making you money and you’re investing that’s that’s what i do by the way so that’s the that’s the goal is what you want to get over here guys and that’s why rich dad poor dad is my second favorite book now on to my favorite book of them all which is called think and grow rich i believe in napoleon hill wrote this book okay this book is on real unreal book
I’m changing your mindset and if i remember correctly i think the book was written back in the 30s okay guys this is my favorite book on money it’s by far my favorite book on money i mean i love rich dad poor dad i love the intelligent investor but thinking grow rich is just is just way above all then because of the psychology around it and it when i read that book i
Felt like every single thing in that book ior not almost and like almost every single thing not every single thing but almost every single thing in that book i agreed with albums like this is what makes someone successful and it talked about all the different things constant talks about your mindset you need to have talked about the dedication you need to have in all
Those kinds of things that talks about you know how every war is won before it’s ever fought is talked about organizing your planning and all these things so you can execute on something okay it talks about having faith which is a huge thing whether you’re investing in a company whether you are you know building the business anything you because you’re taking risks
Right if in order to do anything big in this world you have to take risks and in order to take risk you have to have faith you have to have faith in yourself you have to have a burning desire to succeed at whatever it is all these things that book talks about and for that reason it’s my number one favorite money book in the world and not just money book like that’s
Probably my favorite book of all books however well all my books are favorite money books so that’s kind of a bad example there but still i mean even if you’re not in the money which if you watch this channel you’re into money obviously but even if you’re not in money i think that’s a life-changing book just in the way you kind of viewed the world in yourself and
Things like that guy so those are my three favorite books ever as far as life-changing books on money i hope you guys enjoy this once again i should have everything linked down there in the comment section so click on them if you want if you want to check them out if not that’s cool guys i hope you enjoy this taehu thumbs up if you did thank you for watching guys and have a great day
Transcribed from video
Top 3 MONEY BOOKS EVER! By Financial Education
