- The Unofficial Money/Investment Books Thread -
#1
- The Unofficial Money/Investment Books Thread -
I thought this might be a nice idea for people to share books they have read regarding wealth or investing. I did a quick search and only saw a few regarding specific books.
If a similar thread exists, please delete mods.
I am reading a rather interesting book right now that I am almost half way through.
I'm sure some of you have heard of it. It's called "The Richest Man in Babylon" by George S. Clason.
The total book length is only about 130 pages. I started this afternoon and will probably finish tonight. It's a very easy read and really puts some simple perspectives into your mind about how to do more than live paycheck to paycheck. Some of the things presented are things that I have heard, and some others have probably heard as well. But there's more to it. I don't know. It's a really good, easy read. You should check it out.
And for anybody interested, it's not a religiously based book. It carries no religious references. I know some people who probably wouldn't read it if they knew it did. Just my disclaimer.
If a similar thread exists, please delete mods.
I am reading a rather interesting book right now that I am almost half way through.
I'm sure some of you have heard of it. It's called "The Richest Man in Babylon" by George S. Clason.
The total book length is only about 130 pages. I started this afternoon and will probably finish tonight. It's a very easy read and really puts some simple perspectives into your mind about how to do more than live paycheck to paycheck. Some of the things presented are things that I have heard, and some others have probably heard as well. But there's more to it. I don't know. It's a really good, easy read. You should check it out.
And for anybody interested, it's not a religiously based book. It carries no religious references. I know some people who probably wouldn't read it if they knew it did. Just my disclaimer.
#3
Just finished the above said book!
Yes, I read the book in a day. Along with finishing the book before that. I am really getting into these books. They really bring things into a new light. A new perspective if you will.
Review of "The Millionaire Next Door" :
It is extremely different than the previous book I read, "The Richest Man in Babylon". That book was presented as a story being told by someone the whole time. This book I just finished had a lot of facts and statistics. The first 30 pages made me think I wasn't going to like the book though. It made it seem like 'Millionaires' accumulate wealth, but never in their lives indulge in there success. Even till their dying day. It turned out not the be that way though. The way everything was organized was pretty cool. Takes a little more thinking than the first book, but still very good IMO. A recommended read.
My next book lined up (the sequel to the book I just finished):
Yes, I read the book in a day. Along with finishing the book before that. I am really getting into these books. They really bring things into a new light. A new perspective if you will.
Review of "The Millionaire Next Door" :
It is extremely different than the previous book I read, "The Richest Man in Babylon". That book was presented as a story being told by someone the whole time. This book I just finished had a lot of facts and statistics. The first 30 pages made me think I wasn't going to like the book though. It made it seem like 'Millionaires' accumulate wealth, but never in their lives indulge in there success. Even till their dying day. It turned out not the be that way though. The way everything was organized was pretty cool. Takes a little more thinking than the first book, but still very good IMO. A recommended read.
My next book lined up (the sequel to the book I just finished):
#5
#6
Just finished "The Millionaire Mind".
Definitely a longer book. It was similar to the previous (as I somewhat expected being a "sequel"), but there were significantly more case studies and elaboration of the theories in this one. To be 100% honest, if you were to just read one of the books (Millionaire Mind, or Millionaire Next Door), I would almost lean towards suggesting the first one, "The Millionaire Next Door". The one I just finished I guess you could say was more in-depth and 'thorough', but sometimes I almost felt that there was an excess of redundancy in it. There were two chapters I skipped the last 15-20 pages just because I felt like they were beating a dead cow. I felt like I was almost dragging myself to read those chapters.
Not to discredit it though; it was still an excellent book.
My next book.
Definitely a longer book. It was similar to the previous (as I somewhat expected being a "sequel"), but there were significantly more case studies and elaboration of the theories in this one. To be 100% honest, if you were to just read one of the books (Millionaire Mind, or Millionaire Next Door), I would almost lean towards suggesting the first one, "The Millionaire Next Door". The one I just finished I guess you could say was more in-depth and 'thorough', but sometimes I almost felt that there was an excess of redundancy in it. There were two chapters I skipped the last 15-20 pages just because I felt like they were beating a dead cow. I felt like I was almost dragging myself to read those chapters.
Not to discredit it though; it was still an excellent book.
My next book.
Last edited by TS_eXpeed; 10-19-2008 at 11:28 PM.
#7
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#8
#10
dɐɹɔ ǝɥʇ ʇɐɥʍ
You're reading a lot of the highly regarded entry level investment books, and books designed to shift your mentality from typical American with a net worth of $0.00 and becoming the ever diminishing upper class. It doesn't happen over night, but the content in those books can change your life, literally. Had I read The Richest Man in Babylon a few years earlier then I did, I would not have lost $35k, in addition it would have made solid interest and today I would have an additional $75k(roughly.)
I can make a lot of suggestions, let me know where you want to go with your knowledge, I read a lot of business books and most are garbage, but there are some great ones out there. There are great business development books out there, from "Good to Great," to "The 4 Hour Work Week," or personal development books like "The Greatest Salesman in the World," "The Magic of Thinking Big," "How to Win Friends and Influence People," "The 48 Laws of Power," The John C. Maxwell stuff is great. If you want to focus on the economic side Benjamin Grahams work is as relevant today as it was when it was written.
I think its important to develop as the type of person who can handle wealth, achieving it is not hard, managing it and a life around it i often more then most are prepared to deal with. No matter how well you plan, shit happens and there is no way of escaping it, just deal with it the best you can as it comes up. If you have a good understanding of what it is you want out of life it becomes very easy to live a life that is more then just about money. There are far too few Warren Buffets out there, what makes him great is not his fortune, not even the way he obtained it, though both are incredibly impressive, its the fact that he is not doing it for money, he could live his lifestyle with 2m in the bank(if not less) its his level of moral and ethical standards that are unquestionable, I don't think he loses sleep worrying if he made honorable decisions, that's more then can be said about most billionaires.
I can make a lot of suggestions, let me know where you want to go with your knowledge, I read a lot of business books and most are garbage, but there are some great ones out there. There are great business development books out there, from "Good to Great," to "The 4 Hour Work Week," or personal development books like "The Greatest Salesman in the World," "The Magic of Thinking Big," "How to Win Friends and Influence People," "The 48 Laws of Power," The John C. Maxwell stuff is great. If you want to focus on the economic side Benjamin Grahams work is as relevant today as it was when it was written.
I think its important to develop as the type of person who can handle wealth, achieving it is not hard, managing it and a life around it i often more then most are prepared to deal with. No matter how well you plan, shit happens and there is no way of escaping it, just deal with it the best you can as it comes up. If you have a good understanding of what it is you want out of life it becomes very easy to live a life that is more then just about money. There are far too few Warren Buffets out there, what makes him great is not his fortune, not even the way he obtained it, though both are incredibly impressive, its the fact that he is not doing it for money, he could live his lifestyle with 2m in the bank(if not less) its his level of moral and ethical standards that are unquestionable, I don't think he loses sleep worrying if he made honorable decisions, that's more then can be said about most billionaires.
#11
You're reading a lot of the highly regarded entry level investment books, and books designed to shift your mentality from typical American with a net worth of $0.00 and becoming the ever diminishing upper class. It doesn't happen over night, but the content in those books can change your life, literally. Had I read The Richest Man in Babylon a few years earlier then I did, I would not have lost $35k, in addition it would have made solid interest and today I would have an additional $75k(roughly.)
I'm glad I'm gaining the knowledge that some of these books are presenting to me right now though.
I can make a lot of suggestions, let me know where you want to go with your knowledge, I read a lot of business books and most are garbage, but there are some great ones out there.
This kind of give you an idea of how I plan to approach things?
There are great business development books out there, from "Good to Great," to "The 4 Hour Work Week," or personal development books like "The Greatest Salesman in the World," "The Magic of Thinking Big," "How to Win Friends and Influence People," "The 48 Laws of Power," The John C. Maxwell stuff is great. If you want to focus on the economic side Benjamin Grahams work is as relevant today as it was when it was written.
There are far too few Warren Buffets out there, what makes him great is not his fortune, not even the way he obtained it, though both are incredibly impressive, its the fact that he is not doing it for money, he could live his lifestyle with 2m in the bank(if not less) its his level of moral and ethical standards that are unquestionable, I don't think he loses sleep worrying if he made honorable decisions, that's more then can be said about most billionaires.
I'm just about to start my next book with I'll probably finish tonight at the rate I'm going.
Last edited by TS_eXpeed; 10-21-2008 at 12:58 PM.
#12
Also iTimmy, one way I wanted to approach this, is I want to start aggressively saving and conservatively investing so allow myself to eventually get into real estate. My father just a month and a half ago purchased his first apartment complex. It's going to do wanders for him, and he is already dreaming of how that will allow him to buy another, and from then on the train can just keep rolling.
Real Estate is one way I want to go....if that helps from what you were kind of asking how I planned on approaching it.
Real Estate is one way I want to go....if that helps from what you were kind of asking how I planned on approaching it.
#13
little more advanced and re: current markets
when markets collide
http://www.marketfolly.com/2008/10/w...ohamed-el.html
when markets collide
http://www.marketfolly.com/2008/10/w...ohamed-el.html
#14
Just finished the book titled "The Automatic Millionaire"
This was an EXCELLENT book. Here is a note. If you are are under 30 years old, and especially if you are only in the 18-22 year range (or younger for that matter...the sooner you read, the better; I'm guessing most <18 y/o aren't checking out this section much though)...this book is an absolute MUST. Someone older than this can definitely still benefit from this book, but I this book is so easy to read and extremely understandable. It really puts the ideas in clear view. Like getting your vision corrected from 20/1000 to 20/20. This book was beyond awesome. I suggest everyone read this book!!! I read it in about 3 hours.
My ranking so far for the 5 books I've read this past week:
1: The Richest Man in Babylon
2: The Automatic Millionaire \
3: The Millionaire Next Door / (I say a fair tie for number 2 and 3)
4: The Millionaire Mind
5: You're So Money
This was an EXCELLENT book. Here is a note. If you are are under 30 years old, and especially if you are only in the 18-22 year range (or younger for that matter...the sooner you read, the better; I'm guessing most <18 y/o aren't checking out this section much though)...this book is an absolute MUST. Someone older than this can definitely still benefit from this book, but I this book is so easy to read and extremely understandable. It really puts the ideas in clear view. Like getting your vision corrected from 20/1000 to 20/20. This book was beyond awesome. I suggest everyone read this book!!! I read it in about 3 hours.
My ranking so far for the 5 books I've read this past week:
1: The Richest Man in Babylon
2: The Automatic Millionaire \
3: The Millionaire Next Door / (I say a fair tie for number 2 and 3)
4: The Millionaire Mind
5: You're So Money
Last edited by TS_eXpeed; 10-21-2008 at 06:05 PM.
#15
dɐɹɔ ǝɥʇ ʇɐɥʍ
I think the next one on your list should be "The 4 hour work week" it is a very unique approach to the success story and usually ends up changing peoples lives. The only person I recommended this book to who changed nothing, is the one person who I don't think read it. Otherwise every one of my friends/family I have recommended this book to have made drastic changed in their lives and are enjoying life more because of it, I am no exception. The model is simple, work less, make more, make less then most feel is needed to be "rich" and be rich in life experience, spend your time doing what you want, unplug yourself from the machine. I noticed it in the "what do you define as rich" thread, people throwing around numbers like $10m, that is a LOT of cash, more then I think most realize. As one starts to acquire wealth you realize how little the tangible things mean, family, friends, experiences are what matter most, sure we all have our special interests - I'm into high end audio, books, coffee and cars. While I am into cars, I have no desire to have a supercar, it seems like way more trouble then it is worth, I also don't think I would ever want more then 2 cars, I don't drive enough to justify it, also, weather I had $2m or $250m my dream car is a 911, probably not a turbo. The point is the more wealth you accumulate it seems that you want less flashy things, assuming your building the wealth and its not generated too rapidly, like from lotto, or fame.
It depends where you want to go with Real Estate, I've done enough projects to know that if a project catches my eye I would do it, assuming the project is right for me. I have a very strict guidelines as to what interests me, and it probably would not interest another developer, but the business model works for what I like to accomplish. Some people are owners, others are builders, others like to create and then maintain, bottom line is everyone finds their niche quickly with real estate, or they fail miserably. That's not to say you can't try different concepts and approaches, but finding what fits best into your life will become very apparent early on and I recommend you stick with it. I am a fantastic manager, but I hate doing it, so I don't - I can apply my management skills to building, create something while developing an exit strategy and its a perfect fit. If you have an interest in Real Estate I would recommend checking out one of the broad texts available from the ULI(Urban Land Institute) they can go into extreme depth on any particular aspect of development that interests you, but if you read one of their general text books it will give you a good over view of what is possible and what is not. From there you can research the specific area that catches your interest. Find what you think will make you happiest and run with it. The biggest mistake I see people make is taking the convenient way into real estate, the "my uncle's friend is selling a duplex and its a great deal, so I'm going to buy it." I hear it all the time and 99% of the time I can tell its a terrible fit for the individual but they get guilted into think its perfect and ultimately sell themselves short and never really experience the excitement and money that follows excitement that real estate can offer. One of the things I've learned from the ULI is that the only difference between a $10m and a $40m deal, is the amount of money you make. The percentage is the same, the work is the same, however 20% of $40m is a lot more then 20% of $10m and there is less competition the higher up the latter you go, so while the stakes may be higher it may be easier and is clearly a better use of your time.
It depends where you want to go with Real Estate, I've done enough projects to know that if a project catches my eye I would do it, assuming the project is right for me. I have a very strict guidelines as to what interests me, and it probably would not interest another developer, but the business model works for what I like to accomplish. Some people are owners, others are builders, others like to create and then maintain, bottom line is everyone finds their niche quickly with real estate, or they fail miserably. That's not to say you can't try different concepts and approaches, but finding what fits best into your life will become very apparent early on and I recommend you stick with it. I am a fantastic manager, but I hate doing it, so I don't - I can apply my management skills to building, create something while developing an exit strategy and its a perfect fit. If you have an interest in Real Estate I would recommend checking out one of the broad texts available from the ULI(Urban Land Institute) they can go into extreme depth on any particular aspect of development that interests you, but if you read one of their general text books it will give you a good over view of what is possible and what is not. From there you can research the specific area that catches your interest. Find what you think will make you happiest and run with it. The biggest mistake I see people make is taking the convenient way into real estate, the "my uncle's friend is selling a duplex and its a great deal, so I'm going to buy it." I hear it all the time and 99% of the time I can tell its a terrible fit for the individual but they get guilted into think its perfect and ultimately sell themselves short and never really experience the excitement and money that follows excitement that real estate can offer. One of the things I've learned from the ULI is that the only difference between a $10m and a $40m deal, is the amount of money you make. The percentage is the same, the work is the same, however 20% of $40m is a lot more then 20% of $10m and there is less competition the higher up the latter you go, so while the stakes may be higher it may be easier and is clearly a better use of your time.
Last edited by iTimmy; 10-21-2008 at 10:43 PM.
#18
Awesome!
If you are anything like me, by the time you are finished you will be all kinds of fired up. I really can't explain how excited I was when I finished. It was what drove me to currently be on my sixth book since last thursday. Let me know what you think about it once your done!
If you are anything like me, by the time you are finished you will be all kinds of fired up. I really can't explain how excited I was when I finished. It was what drove me to currently be on my sixth book since last thursday. Let me know what you think about it once your done!
#19
I think the next one on your list should be "The 4 hour work week" it is a very unique approach to the success story and usually ends up changing peoples lives. The only person I recommended this book to who changed nothing, is the one person who I don't think read it. Otherwise every one of my friends/family I have recommended this book to have made drastic changed in their lives and are enjoying life more because of it, I am no exception. The model is simple, work less, make more, make less then most feel is needed to be "rich" and be rich in life experience, spend your time doing what you want, unplug yourself from the machine.
It depends where you want to go with Real Estate, I've done enough projects to know that if a project catches my eye I would do it, assuming the project is right for me. Some people are owners, others are builders, others like to create and then maintain, bottom line is everyone finds their niche quickly with real estate, or they fail miserably. That's not to say you can't try different concepts and approaches, but finding what fits best into your life will become very apparent early on and I recommend you stick with it. If you have an interest in Real Estate I would recommend checking out one of the broad texts available from the ULI(Urban Land Institute) they can go into extreme depth on any particular aspect of development that interests you, but if you read one of their general text books it will give you a good over view of what is possible and what is not. From there you can research the specific area that catches your interest. Find what you think will make you happiest and run with it.
The biggest mistake I see people make is taking the convenient way into real estate, the "my uncle's friend is selling a duplex and its a great deal, so I'm going to buy it." I hear it all the time and 99% of the time I can tell its a terrible fit for the individual but they get guilted into think its perfect and ultimately sell themselves short and never really experience the excitement and money that follows excitement that real estate can offer. One of the things I've learned from the ULI is that the only difference between a $10m and a $40m deal, is the amount of money you make. The percentage is the same, the work is the same, however 20% of $40m is a lot more then 20% of $10m and there is less competition the higher up the latter you go, so while the stakes may be higher it may be easier and is clearly a better use of your time.
As far as the other books, I haven't heard about them, but they are other ones that I will definitely look out for. You're words and advice have been awesome!!
#20
dɐɹɔ ǝɥʇ ʇɐɥʍ
Its a pleasure to work with younger people, not that I am old but I am older and have had a lot of unusual experience for someone my age. If it wasn't for kind hearted, generous mentors when I was younger I wouldn't be where I am today. It's not a sense of obligation on my end, it's that I really appreciated people pointing me in the right direction, not telling me what to do to become rich, but showing me the natural process of achieving wealth and becoming successful(which goes far beyond just money.)
One of the things one of my mentors taught, is to shoot for the stars, the worst thing that can happen is you don't achieve your goal. If you want to talk to the biggest Real Estate developer in the area, tell him/her that you are impressed with their projects and have a tremendous interest in this area and you'd love to take them out for a cup of coffee and talk about how he/she got to where they are. It sounds so simple, but so many people are afraid to do it. I'm batting about 90% success when I approach people in that fashion, pretty good odds, and I've learned a ton, mistakes, wise moves, etc... An added bonus is people who reach the summit can spot up and coming talent quickly, chances are great that you will keep in contact with these people and be in the same league as them in no time. Success perpetuates success, surround yourself with successful people, learn from them, work with them and you are bound to become successful yourself.
One of the things one of my mentors taught, is to shoot for the stars, the worst thing that can happen is you don't achieve your goal. If you want to talk to the biggest Real Estate developer in the area, tell him/her that you are impressed with their projects and have a tremendous interest in this area and you'd love to take them out for a cup of coffee and talk about how he/she got to where they are. It sounds so simple, but so many people are afraid to do it. I'm batting about 90% success when I approach people in that fashion, pretty good odds, and I've learned a ton, mistakes, wise moves, etc... An added bonus is people who reach the summit can spot up and coming talent quickly, chances are great that you will keep in contact with these people and be in the same league as them in no time. Success perpetuates success, surround yourself with successful people, learn from them, work with them and you are bound to become successful yourself.
#21
Just finished "Think Big" by Donald Trump
It's not like all the other books I've read (and I knew it wouldn't be) but it was definitely an interesting book. It's not about building wealth or anything like that. The one I bought doesn't say "...and Kick Ass" but that is one of the main components of the book. The whole book goes through with Donald explaining how he managed all the hard times that he went through including getting his first deal and making it through the early nineties. He explains how part of the reason he has done so well is by not taking crap from people and having the attitude that would demand him to be the best of the best. Very interesting perspective. Overall, I enjoyed the book.
Running Rank:
1: The Richest Man in Babylon
2: The Automatic Millionaire \
3: The Millionaire Next Door / (I say a fair tie for number 2 and 3)
4: The Millionaire Mind
5: Think Big and Kick Ass
6: You're So Money
It's not like all the other books I've read (and I knew it wouldn't be) but it was definitely an interesting book. It's not about building wealth or anything like that. The one I bought doesn't say "...and Kick Ass" but that is one of the main components of the book. The whole book goes through with Donald explaining how he managed all the hard times that he went through including getting his first deal and making it through the early nineties. He explains how part of the reason he has done so well is by not taking crap from people and having the attitude that would demand him to be the best of the best. Very interesting perspective. Overall, I enjoyed the book.
Running Rank:
1: The Richest Man in Babylon
2: The Automatic Millionaire \
3: The Millionaire Next Door / (I say a fair tie for number 2 and 3)
4: The Millionaire Mind
5: Think Big and Kick Ass
6: You're So Money
Last edited by TS_eXpeed; 10-22-2008 at 12:58 PM.
#23
is learning to moonwalk i
I'm going to have to look into some of the suggested titles. I don't get much time to read, but have been listening to the the "Rich Dad, Poor Dad" series on CD. They are abridged versions, so there are things I'm missing, but the basic points are still made. So far, they are pretty short on specifics, but do a good job of leading you into thinking differently. Many of the priciples are "common sense," but it's always good to reinforce those ideas with an experienced investor.
After this, I was planning on reading/listening to some of my wife's books/CDs which are similar to "How to Win Friends..." Given my ~45 min drive each way to and from work, I should be "well read" in a couple of weeks.
After this, I was planning on reading/listening to some of my wife's books/CDs which are similar to "How to Win Friends..." Given my ~45 min drive each way to and from work, I should be "well read" in a couple of weeks.
#24
is learning to moonwalk i
I just ordered a few books:
-The Richest Man in Babylon
-Think and Grow Rich: The Landmark Bestseller--Now Revised and Updated for the 21st Century
-How to Win Friends & Influence People
I have no interest in reading anybooks by Farnoosh Torabi after reasing some article she wrote that was on My Yahoo earlier.
-The Richest Man in Babylon
-Think and Grow Rich: The Landmark Bestseller--Now Revised and Updated for the 21st Century
-How to Win Friends & Influence People
I have no interest in reading anybooks by Farnoosh Torabi after reasing some article she wrote that was on My Yahoo earlier.
#26
Unofficial Goat
iTrader: (1)
One of my entrepreneurship prof's suggested everyone read this book, of course it's more about entrepreneurship but it's supposed to be really good for beginners.
http://www.amazon.com/Good-Hard-Kick...6180759&sr=8-1
http://www.amazon.com/Good-Hard-Kick...6180759&sr=8-1
#28
trill recognize trill
starting reading the 4-Hour Workweek, its an interesting read and puts alot of things into a different perspective. I read The Automatic Millionaire not too long ago and I gotta say its a super easy read, a lot of the things in the book like compounding interest and paying yourself first before u buy the starbucks was known to me. It's one of those books that can open a persons eyes that doesn't think too much about finances or doesn't realize the value of money over time.
#29
dɐɹɔ ǝɥʇ ʇɐɥʍ
starting reading the 4-Hour Workweek, its an interesting read and puts alot of things into a different perspective. I read The Automatic Millionaire not too long ago and I gotta say its a super easy read, a lot of the things in the book like compounding interest and paying yourself first before u buy the starbucks was known to me. It's one of those books that can open a persons eyes that doesn't think too much about finances or doesn't realize the value of money over time.
The one thing I always tell people who read it, don't take it literally. He offers some examples of what he did, that is NOT the path to happiness. You must figure out what you want to do, how you plan on doing it with minimal time and then what to do with your new found time. For example, he spends his time traveling on the cheap, not what I like to do, he also says that you shouldn't over read, I enjoy reading so I read a lot... The book is not the bible/koran/etc, that does not mean it still can't change your life, but you don't need to follow his path to obtain happiness.
One of my friends, the one who currently has my copy of the 4hww moved to Palau a little over a week ago, not for a vacation, but until he gets bored and lands in his next destination - he took the books meaning literally and I don't think he did proper due diligence on traveling as an American citizen abroad. He may be in for a lot of trouble upon his return, not paying taxes, out of the country for too long, etc...
#30
BTW, I looked up reviews on that book your prof suggested (not you iTimmy), and I found very mixed reviews. Some say it was great; others say he just sounded like a huge self promoting ass for his company. lol. Let me know how you like it once you finally get it and read it, then I'll consider it.
#31
trill recognize trill
You're in a great position(age wise) to be reading the 4hww. I read it a few years ago and while it had huge impact on the direction I went in, I was, at the time committed to a business and couldn't out source it or change the general operational pattern and had it succeed.
The one thing I always tell people who read it, don't take it literally. He offers some examples of what he did, that is NOT the path to happiness. You must figure out what you want to do, how you plan on doing it with minimal time and then what to do with your new found time. For example, he spends his time traveling on the cheap, not what I like to do, he also says that you shouldn't over read, I enjoy reading so I read a lot... The book is not the bible/koran/etc, that does not mean it still can't change your life, but you don't need to follow his path to obtain happiness.
One of my friends, the one who currently has my copy of the 4hww moved to Palau a little over a week ago, not for a vacation, but until he gets bored and lands in his next destination - he took the books meaning literally and I don't think he did proper due diligence on traveling as an American citizen abroad. He may be in for a lot of trouble upon his return, not paying taxes, out of the country for too long, etc...
The one thing I always tell people who read it, don't take it literally. He offers some examples of what he did, that is NOT the path to happiness. You must figure out what you want to do, how you plan on doing it with minimal time and then what to do with your new found time. For example, he spends his time traveling on the cheap, not what I like to do, he also says that you shouldn't over read, I enjoy reading so I read a lot... The book is not the bible/koran/etc, that does not mean it still can't change your life, but you don't need to follow his path to obtain happiness.
One of my friends, the one who currently has my copy of the 4hww moved to Palau a little over a week ago, not for a vacation, but until he gets bored and lands in his next destination - he took the books meaning literally and I don't think he did proper due diligence on traveling as an American citizen abroad. He may be in for a lot of trouble upon his return, not paying taxes, out of the country for too long, etc...
#32
Haven't got a chance to read anything recently cause of school. I actually caused myself to get behind some that week I went crazy and read 5 or 6 books.
I finally have everything in school under control, and don't have anything left finals with the exception of one small paper.
I finally found a copy of '4 Hour Work Week'. I'll be reading that sometime this week. I'll get my little blurb/write-up once I'm finished.
I finally have everything in school under control, and don't have anything left finals with the exception of one small paper.
I finally found a copy of '4 Hour Work Week'. I'll be reading that sometime this week. I'll get my little blurb/write-up once I'm finished.
#33
Read the whole book, "The 4 Hour Work Week" today.
Wow.
It just revolutionized the way I think about work, retirement, and so many other things.
It's definitely different than what I thought it would be.
Some parts a lot better; a few parts that I didn't care for, but for the most part, it was inspiring, and really gets you excited and make you want to try some of the things he's done. While I don't think you should try to model everything he did exactly, or that his exact way of life is what everyone should do, it is really a good read.
Just for a hint of what the book holds, here is the little blurb from the back inside cover:
Timothy Ferriss, serial entrepreneur and ultra-vagabond, has been featured in the New York Times, National Geographic Traveler, Maxim, and other media. He speaks six languages, runs a multinational firm from wireless locations worldwide, and has been a world-record holder in tango, a national champion in Chinese kickboxing, and an actor on a hit television series in Hong Kong.
He is thirty years old.
Wow.
It just revolutionized the way I think about work, retirement, and so many other things.
It's definitely different than what I thought it would be.
Some parts a lot better; a few parts that I didn't care for, but for the most part, it was inspiring, and really gets you excited and make you want to try some of the things he's done. While I don't think you should try to model everything he did exactly, or that his exact way of life is what everyone should do, it is really a good read.
Just for a hint of what the book holds, here is the little blurb from the back inside cover:
Timothy Ferriss, serial entrepreneur and ultra-vagabond, has been featured in the New York Times, National Geographic Traveler, Maxim, and other media. He speaks six languages, runs a multinational firm from wireless locations worldwide, and has been a world-record holder in tango, a national champion in Chinese kickboxing, and an actor on a hit television series in Hong Kong.
He is thirty years old.
#34
Have you got through any/all of them yet?
#35
Unofficial Goat
iTrader: (1)
Only one I have left to read is the wealth of nations. A good hard kick in the Ass I would recommend to anyone that wants to start their own company, it will break down a lot of pre conceived notions people have about raising capital etc.
Richest man in babylon was a good fundamentals of money management, but probably could have been just as effective in about 10 pages instead of 130 ish.
The SAS book was a 50% let down, I messed up and ordered the pocket version by accident, so it was missing tons of stuff, but the stuff it did include was great info, definitely something you could throw in your first aid kit if you do any camping and use as a decent reference guide for some situations you may not have planned for.
Richest man in babylon was a good fundamentals of money management, but probably could have been just as effective in about 10 pages instead of 130 ish.
The SAS book was a 50% let down, I messed up and ordered the pocket version by accident, so it was missing tons of stuff, but the stuff it did include was great info, definitely something you could throw in your first aid kit if you do any camping and use as a decent reference guide for some situations you may not have planned for.
#37
If you haven't yet, that's most definitely one you should read.
Here are my top three suggestions (not necessarily in any particular order) for books from things I've already read:
1. 4 Hour Work Week - Timothy Ferris
2. The Millionaire Next Door - Thomas Stanely
3. The Automatic Millionaire - David Bach
All VERY good books.
All very different too, but very good.
I would highly recommend those three, though.
My very short take on all three:
4 Hour Work Week: How a guy outsourced his life and was able to take multiple-month-long "mini-retirements" much of the time (and still does).
Millionaire Next Door: A little on the technical side, but deals with many aspects. It was a great book.
Automatic Millionaire: How a couple automated everything and used it to their advantage.
Last edited by TS_eXpeed; 05-26-2009 at 02:01 PM.
#39
currently reading the ivy portfolio, how to invest like top endowments as recommended/reviewed here http://www.marketfolly.com/2009/05/i...-like-top.html
have really enjoyed it thus far, great for those looking to learn a bit more about portfolio management
have really enjoyed it thus far, great for those looking to learn a bit more about portfolio management
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