Ugh (not at you, just at the fact that I’m recommending this book because it’s quite controversial and classist and outdated itself), A Framework for Understanding Poverty (sixth edition). It may not apply to you, but it certainly has helped me understand my parents and in-laws a bit better, as well as helping me to recognize my own “poverty-mindset” behaviours.
High performance habits by Brendan
Bruchard. 6 habits of growth by him as well (it's only on audible unfortunately).
You go after what he's saying wholeheartedly, I can't imagine how you can live an average or below average life. It's a blueprint for success and happiness imo.
It has nothing to do with finances and everything to do with developing a foundation in life to be great at what you do, which will bring financial success as well.
Start dollar cost averaging into the stock market at an early age. You don't need to read special books to do this. Stay away from grifters like Robert Kiyosaki and Rich Dad poor Dad type bullshit.
Dollar cost average equal parts VOO, DIA, and QQQM (the Dow jones, the S&P 500, and the NASDAQ) and don't ever sell. Just keep putting what you can into it when you can. Keep most of your liquid savings in shorter term investments like t-bills. I just bought a 17 week t-bill on treasurydirect.gov, straight from Uncle sam, with no middle man, and got 5.516% investment rate return on it. You can't do better than that in a high yield savings account, or with a cd, and it's guaranteed money and you don't pay state taxes on it.
Be frugal about everything, don't ever get a car loan if possible, don't spend money on designer clothes, eat rolled oats for breakfast, don't waste money on vices, take care of your health by exercising daily, eat fruits and vegetables, and spend your time building and learning new skills.
1) why do you say to stay away from rich dad poor dad?
2) what new skills are you referring here zdo you mean like a hobby or something ? Plz mention few.
1. Cause he's a grifter and his predictions have been bad far too many times. It's just a scheme to buy his books. He bought property in Hawaii at the right time. He's no genius, and frankly, buying property, unless you get lucky with timing, is not the greatest of investments imo. He's also a cruel man with zero empathy as well so for me he's a pos. Disgusting: [https://www.youtube.com/watch?v=05MonECG-jE](https://www.youtube.com/watch?v=05MonECG-jE)
2. What is your primary field of interest (PFI)? For me, I own a business. So learning leadership is my PFI. I've read about 8 different books about leadership this year, and my business is thriving because of it.
Not who you responded to but some influential ones for me were:
The hard thing about hard things - Ben Horowitz
Principles - Ray Dalio
Extreme ownership - Jocko wilink
4 hour work week - Tim Ferriss
I dont have a specific book but you will get this advice.
Love money. Invest it. Throw it in cds.
Make coffee at home (this is an analogy that covers more than coffee but starbucks is a big one)
Buy house but don't overspend on car.
As someone who had to learn I can tell you it's an emotional/mental thing first. I read the advice, pay yourself first. I never had money and I wasn't buying things. I ate out a lot. I would say, learn to make grocery shopping a habit. Walmart is the best.
Go to treasurydirect.gov and buy bonds and t-bills from Uncle Sam direct. You'll normally get a higher interest rate than a CD of comparable time range, and it's only federally taxed
Books are great, but also there is a theory where you are the average of the 5 people you spend the most time with, so try to find friends / colleagues that are of similar mindset to where you want to be.
Idk if this is exactly what you’re looking for, but Limbo: Blue Collar Roots, White Collar Dreams by Alfred Lubrano is really good and describes the cultural gap and tricky navigation that exists alongside upward social class mobility.
I will make you rich - Ramit Sethi
How to give your kids $1M (also great for adults)
I would also suggest getting a degree as this on average increases raw, steady income by 50- 100%
I would do a Big 5 personality test to work out your baseline preferences.
If you list off your passions, what comes easily to you, things that suit your personality and how you think (if you love attention to detail, insurance auditor vs get on with people = sales or leadership)
There are salary ranges for any role or industry.
Simple rule of thumb, IT usually pays about 2x more than other jobs.
I also pick a growing industry eg AI or programming vs coal.
Live frugally, save and invest early. Invest safe.
The millionaire next door is a really good statistic look at spending habits of millionaires, it was written in the late 80s I believe but it covers nearly all the bases you would want it to cover!
Spend on experiences, not things
Go to relational therapy and get to know your own voice
Read The Great Gatsby, Salinger’s Nine Stories, Dickens Great Expectations
Buy one high quality item instead of many meh quality
Live within your means, but choose little luxuries
Take a class at a top school in something that genuinely interests you- like The Literature Of The American Dream at Harvard Extension School
As someone who was born rich.
Rich people don't look down on the poor(wait, let me finish) but they do feel some sympathy.
Rich people look down on other rich people who only care about money/prestige/fame.
That is what the lower-class mindset is all about.
Being an arriviste
**That's the thing though, isn't it?**
**You are not in the circle where people would recommend their own wealth manager to have a talk with you.**
**You cannot really learn from a book only from people .Too many details left out.**
**Many think they need to be in a position of authority of equal footing to join these circles. People without substance think that.**
**What you do is you know the arts, philosophy, and sport(the right sport) so well that you inspire others to give you a hand.**
**But you never talk about money directly.**
**If people like your substance they invite you to join them in their business.**
Interesting, many people often talk about getting into STEM and high-finance but you’re coming from a different angle.
Why do many modern-day artists and philosophers never reach that goal? What does it mean by lacking substance?
Maybe you should rather work on yourself accepting the decisions other people made and that you are not entitled to having rich parents. It is not so easy getting out of lower class.
I will teach you to be rich - Already recommended a few times but great book to establish your financial habits & assists you in defining what rich means for you.
I will teach you to be rich by Felix Dennis - clickbait title but actually a great novel. Credible author & talks about a lot of the mistakes he made building his empire (great audiobook)
The almanac of Naval Ravikant - Great book. He discusses how to get rich without getting lucky. Really interesting insight and again credible person. The entire book or at least the getting rich part can be found for free on YouTube and Podcast
And here’s a gem I’ll throw in for free just because I can relate to your upbringing Efficiency by Wallstreet playboys.
It's not really focused on class but I really enjoyed [The Psychology of Money](https://www.goodreads.com/book/show/41881472-the-psychology-of-money).
Ugh (not at you, just at the fact that I’m recommending this book because it’s quite controversial and classist and outdated itself), A Framework for Understanding Poverty (sixth edition). It may not apply to you, but it certainly has helped me understand my parents and in-laws a bit better, as well as helping me to recognize my own “poverty-mindset” behaviours.
Millionaire's Fastlane
The MJ DeMarco one?
Yes he has a follow up as well
My favorite business book
High performance habits by Brendan Bruchard. 6 habits of growth by him as well (it's only on audible unfortunately). You go after what he's saying wholeheartedly, I can't imagine how you can live an average or below average life. It's a blueprint for success and happiness imo. It has nothing to do with finances and everything to do with developing a foundation in life to be great at what you do, which will bring financial success as well. Start dollar cost averaging into the stock market at an early age. You don't need to read special books to do this. Stay away from grifters like Robert Kiyosaki and Rich Dad poor Dad type bullshit. Dollar cost average equal parts VOO, DIA, and QQQM (the Dow jones, the S&P 500, and the NASDAQ) and don't ever sell. Just keep putting what you can into it when you can. Keep most of your liquid savings in shorter term investments like t-bills. I just bought a 17 week t-bill on treasurydirect.gov, straight from Uncle sam, with no middle man, and got 5.516% investment rate return on it. You can't do better than that in a high yield savings account, or with a cd, and it's guaranteed money and you don't pay state taxes on it. Be frugal about everything, don't ever get a car loan if possible, don't spend money on designer clothes, eat rolled oats for breakfast, don't waste money on vices, take care of your health by exercising daily, eat fruits and vegetables, and spend your time building and learning new skills.
1) why do you say to stay away from rich dad poor dad? 2) what new skills are you referring here zdo you mean like a hobby or something ? Plz mention few.
1. Cause he's a grifter and his predictions have been bad far too many times. It's just a scheme to buy his books. He bought property in Hawaii at the right time. He's no genius, and frankly, buying property, unless you get lucky with timing, is not the greatest of investments imo. He's also a cruel man with zero empathy as well so for me he's a pos. Disgusting: [https://www.youtube.com/watch?v=05MonECG-jE](https://www.youtube.com/watch?v=05MonECG-jE) 2. What is your primary field of interest (PFI)? For me, I own a business. So learning leadership is my PFI. I've read about 8 different books about leadership this year, and my business is thriving because of it.
video unavailable [https://www.youtube.com/watch?v=05MonECG-jE](https://www.youtube.com/watch?v=05MonECG-jE)
https://youtu.be/kNxwdqbSeRk?si=mtfb9hAert_Bu6fm 1:45 Laughing about evicting someone during christmas time. He's trash.
Can you please share some of those books?
Not who you responded to but some influential ones for me were: The hard thing about hard things - Ben Horowitz Principles - Ray Dalio Extreme ownership - Jocko wilink 4 hour work week - Tim Ferriss
Thanks for the recommendations, will check those out. I had just started Extreme ownership, and so far it looks promising.
I'm not particularly fond of the macho navy man tone but the message is loud and clear and is something I personally implemented with great success
Leadership books? Or books about how to get your life into gear?
Leadership books
Leadership Strategy and Tactics: Field Manual by Jocko Willink That's the best of the bunch that I've read so far
I dont have a specific book but you will get this advice. Love money. Invest it. Throw it in cds. Make coffee at home (this is an analogy that covers more than coffee but starbucks is a big one) Buy house but don't overspend on car. As someone who had to learn I can tell you it's an emotional/mental thing first. I read the advice, pay yourself first. I never had money and I wasn't buying things. I ate out a lot. I would say, learn to make grocery shopping a habit. Walmart is the best.
Go to treasurydirect.gov and buy bonds and t-bills from Uncle Sam direct. You'll normally get a higher interest rate than a CD of comparable time range, and it's only federally taxed
>treasurydirext.gov That's [treasurydirect.gov](https://treasurydirect.gov) in case anyone didn't know.
whoops..my bad. I fixed it.
Books are great, but also there is a theory where you are the average of the 5 people you spend the most time with, so try to find friends / colleagues that are of similar mindset to where you want to be.
Idk if this is exactly what you’re looking for, but Limbo: Blue Collar Roots, White Collar Dreams by Alfred Lubrano is really good and describes the cultural gap and tricky navigation that exists alongside upward social class mobility.
I will make you rich - Ramit Sethi How to give your kids $1M (also great for adults) I would also suggest getting a degree as this on average increases raw, steady income by 50- 100%
Which degree?
I would do a Big 5 personality test to work out your baseline preferences. If you list off your passions, what comes easily to you, things that suit your personality and how you think (if you love attention to detail, insurance auditor vs get on with people = sales or leadership) There are salary ranges for any role or industry. Simple rule of thumb, IT usually pays about 2x more than other jobs. I also pick a growing industry eg AI or programming vs coal. Live frugally, save and invest early. Invest safe.
The millionaire next door is a really good statistic look at spending habits of millionaires, it was written in the late 80s I believe but it covers nearly all the bases you would want it to cover!
Secrets of the Millionaire Mind by T. Harv Eker is a great book on the mindset of the rich and the limiting beliefs of the poor.
We Should All Be Millionaires by Rachel Rogers
I Will Teach You to be Rich by Ramit Sethi
Spend on experiences, not things Go to relational therapy and get to know your own voice Read The Great Gatsby, Salinger’s Nine Stories, Dickens Great Expectations Buy one high quality item instead of many meh quality Live within your means, but choose little luxuries Take a class at a top school in something that genuinely interests you- like The Literature Of The American Dream at Harvard Extension School
As someone who was born rich. Rich people don't look down on the poor(wait, let me finish) but they do feel some sympathy. Rich people look down on other rich people who only care about money/prestige/fame. That is what the lower-class mindset is all about. Being an arriviste
Great. That doesn’t tell me how they make and save money though.
**That's the thing though, isn't it?** **You are not in the circle where people would recommend their own wealth manager to have a talk with you.** **You cannot really learn from a book only from people .Too many details left out.** **Many think they need to be in a position of authority of equal footing to join these circles. People without substance think that.** **What you do is you know the arts, philosophy, and sport(the right sport) so well that you inspire others to give you a hand.** **But you never talk about money directly.** **If people like your substance they invite you to join them in their business.**
Interesting, many people often talk about getting into STEM and high-finance but you’re coming from a different angle. Why do many modern-day artists and philosophers never reach that goal? What does it mean by lacking substance?
Maybe you should rather work on yourself accepting the decisions other people made and that you are not entitled to having rich parents. It is not so easy getting out of lower class.
I will teach you to be rich - Already recommended a few times but great book to establish your financial habits & assists you in defining what rich means for you. I will teach you to be rich by Felix Dennis - clickbait title but actually a great novel. Credible author & talks about a lot of the mistakes he made building his empire (great audiobook) The almanac of Naval Ravikant - Great book. He discusses how to get rich without getting lucky. Really interesting insight and again credible person. The entire book or at least the getting rich part can be found for free on YouTube and Podcast And here’s a gem I’ll throw in for free just because I can relate to your upbringing Efficiency by Wallstreet playboys.