I have about 114 books just on audible and most of them I’ve read more than 2 times, and in my physical library that you see back here I have a few books also. The point is I’ve read a lot of books on money. The question is does that make a difference, the answer is yes it does.
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1. Your Money or Your Life
- Money is Time, it's your life energy
- Work is not who you are, it's what you do to get paid ( that’s it )
2. The richest Man in Babylon
- Live on less than you make
- That sounds bad doesn’t it, but the less you need the freer you can be
3. Man of the House
- Build a Home, a real one
- This book got me thinking about the reliance we have on everything
- We don’t know how to fix anything around the house, don’t know how to grow food and our families are absent because we have exported everything ( in exchange for making money to pay for those things )
Actions:
- It got me thinking instead of buying a fancy house for in a nice location with neighbors
- Buy some land, and build a house, and have some animals and learn some skills
- Imagine that a life where you can raise your children and educate them and grow your own food and your home is not just where you sleep
Tip: Homeschool is effectively better for kids, public schools and private schools are just more efficient for teaching groups. Think about 1 teacher for 20 kids or 1 mom and dad for their family, with one on one time
4. The Little Book about Common Sense Investing
- This book taught me that simplicity is key
- I took the book a little further than its idea of simplicity as I learned more about investing
In investing you need conviction to stick to a plan for the long run
- I started out with a lot of investments
- Trying to pick out stocks
- Then I learned that unless I want to be a full-time investor, the best I can do is just do index funds
- And then I learned that I don’t need to diversify into a bunch of index funds
- I only invest in the S&P 500 ( I want to be able to take 5% of my 10% profit and live off that )
5. The Barefoot investor
- Most of these books have a step-by-step plan to get rich
- And most of them work
- But I don’t care for those honestly, I’m looking for nuggets that change lives
- And what changed my life, was that you will never get out of debt unless you choice to live without debt )
Simple right?
- I had credit cards , business loans, student loans and was planning on getting into a mortgage potentially
- When I made that choice to be debt-free, and to stop playing the game
- I closed everything, paid off everything, and never thought about getting into debt anymore
6. The phycology of money
- What it takes to build wealth is not what it takes to keep wealth
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
21 авг 2024