The financial planning survey for real estate agents really opened my eyes to where the average agent stands financially. I have some great articles and reports coming in the near future that will show you some innovative ways to start building your wealth. In the meantime, I thought I would share some of my favorite books (& other resources) on money, financial planning and wealth building. One great book (CD, DVD, etc.) can and will change your life. In fact, I honestly believe, books lead to money. This is because you can implement great ideas found in books and see results in your bank account. This applies to both your businesses finances and your personal finances.
I’ve included a wide range of material in this list ranging from basic to advanced. Hopefully, everyone will find something they can benefit from! Also, you should be able to find most of these books on Amazon. None of the links included in this article are affiliate links and I’m not recommending any of these books, because I’m trying to earn a buck. I’m recommending them simply because they had an impact on my life.
1. The Richest Man in Bablyon by George S. Clason
The results of the survey indicated that many real estate agents are NOT currently saving for retirement. The best book I’ve read on saving money on a consistent basis is probably The Richest Man in Bablyon. It’s an older book with millions of copies sold and well worth your time. If you haven’t read this book and are not currently saving any money, this should probably be the first book you read. It’s entertaining and fun to read. And more importantly, you can probably read over a weekend.
2. Your Money or Your Life
This fantastic book written by Joe Dominques and Vicki Robin dramatically changed the way I view money. The premise of the book surrounds a scenario we all face each day. One night you’re out walking and a bad guy comes up to you and points a gun at your chest. He says, “Give me your money, or I’ll take your life.” What would you do? You would give the bad guy your wallet without a second thought, right? Well, we do the exact opposite in our day-to-day lives. We trade our lives away each day to make money. I learned how critical it is to keep your living expenses at low levels so we don’t have to trade our lives for money. This book should be easy to find on Amazon or other large book stores. I believe it has been recently updated, but I haven’t read the new version.
I liked this book so much that I actually interviewed Vicki Robin several years ago for my real estate investing clients. During the interview, she recommended a recording of a class Joe Dominques taught several years ago called “Transforming Your Relationship With Money.” I ordered these recordings after the interview and absolutely loved them. I highly recommend them if you’re not where you need to be financially. This program is available for around $20 bucks and is a little hard to find. Here’s the link (and no it’s not an affiliate link!):
3. How I Built My Wealth by Michael Masterson
This little book was written by Michael Masterson and is also on my list of all time favorites. I actually read this book once or twice a year and have recommended it to my Master Marketer Members on several occasions. In the book, Masterson outlines the key steps you must take to build wealth and I’ve been secretly following these steps since reading the book the first time. If you read the book and have followed me for any time, you’ll probably be able to “see” Masterson’s lessons weaving through my life and daily activities. By the way, I’m a huge fan of Michael Masterson and can recommend any of his other books, too!
You may be able to download this book online for free. Try this link:
3. Who Took My Money? by Robert Kiyosaki
Robert Kiyosaki has written several great books about money, cash flow and wealth. One of my favorites, that I rarely ever talk about, is his book “Who Took My Money – Why Slow Investors Lose and Fast Money Wins!” In this book, I learned about the velocity of money and have been using this strategy with my investments each year since reading about it. You’ll also find some great ideas on how to improve your business within the book, but you’ll have to dig a little to uncover the gems!
4. Dan Kennedy’s Wealth Attraction Seminar
A few years ago, Dan Kennedy released a new book tiled “No BS Wealth Attraction for Entrepreneurs.” I highly recommend this book and not simply because I have a chapter in the original book. I recommend the book, because it will help you with the mindset of money. What you probably don’t know is that Dan’s book on Wealth Attraction came from a small seminar he held several years ago. I wasn’t able to attend the seminar, but I bought the recorded version and believe its a must watch for any entrepreneur!
Over the years, I’ve played portions of this recorded seminar at various closed door mastermind meetings and we’ve talked in depth about some of the lessons Dan shares. I typically watch this seminar every year. It’s on the expensive side, but well worth every penny. You can find it at this link :http://www.nobsinternetresources.com/all-resources/wealth-attraction/
5. Guide to Investing in Gold & Silver by Michael Maloney (Part of the Rich Dad book series)
In early 2009, one of my Master Marketer Club members, Tom Karadza sent me an email suggesting I read this book. In the email he wrote, “If you don’t make time to read this book this week, I’m going to drive down to Ohio and read it to you.” Tom lives in Toronto. And as to be expected, his email got my attention. I really value Tom and his reading recommendations. The same day I received his email, I went to the store and bought the book. I read the book non-stop and I’m so very thankful for his recommendation.
I’ve recommended this book to others on many occasions and only hope that you take time to read it yourself. A word of warning, it will probably scare you a little. This is ok, as long as you take action. There are some ugly things going on in the US economy and other economies that can suck wealth right out of your bank account. I’m not kidding. It’s happening already. This book will help you understand money on a higher level.
6. Debt to Wealth Audio Program by John Cummata
If you’re struggling with too much debt, you might want to get your hands on the Debt to Wealth audio program. In the program, John details how you can eliminate all of your debt (including your mortgage) in 5 to 7 years. His plan works and it’s not just marketing hype. As I’ve learned over the years, debt is nasty and can cost us a significant amount of money, stress and loss of wealth. When I ordered this program several years ago, I also received a software DebtFree CD that was really helpful. You can plug in all of your debts and run different scenarios to see what’s the fastest way to pay them off. Credit card debt interest rates have risen dramatically over the last year or so and it’s critical to eliminate this debt as fast as possible.
7. Generate Thousands by Dr. Samir Elias
If you’re into the stock market, you might want to read this book. It’s fairly technical, but jam packed with strategies for generating income from your stocks. This includes selling options on the stocks you own. I’ve used the strategies in the book profitably on numerous occasions. In addition, I’ve used the idea of selling options in real estate to increase the income from rental properties. However, as with every investing strategy, there IS risk. Don’t invest money you can’t afford to lose. Warning: this book is on the pricey side, but well worth the investment. Maybe you can pick up a used copy and save some money! I don’t think you’ll find it at the library!
8. Think & Grow Rich by Napoleon Hill
You’ve read it, right?