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My 9 Favorite Personal Finance and Career Books

21 Comments -- Reading Time: 4 Min

 

I have gotten dozens of requests for book requests from Money Habit readers. The right book can be a real game-changer. So without further ado, here are my 9 favorite personal finance and career books.

 

Book Recommendations

 

Your Money Or Your Life –  YMOYL was one of the the first personal finance books I read and was one of the most influential. I consider it a classic of the FIRE movement. It helps you build a life philosophy and framework for how money fits into your life. One of the most impactful exercises they walk you through is dividing how much you earn by the number of hours you work. You now have a way of converting each purchase to a number of life units rather than just money you must spend. Seeing that a new phone purchase will cost you 50 hours of your life will do a lot to curb unwise purchases. It also ignited my interest in investing, because you can send those dollars to work for you and buy your time back. A few of the chapters especially around recommended investment strategies are a little outdated, but it’s still one of my favorite personal finance books of all time and  well worth the read.

 

 

The Millionaire Next Door – Another classic. By interviewing thousands of millionaires, Stanley Thomas debunks all the myths of how a millionaire actually spends his/her money. Millionaires look incredibly different than what Hollywood portrays. If you want to be a millionaire yourself, you’d do well to read this book.

 

 

The Only Investment Guide You’ll Ever Need – Unfortunately, it is not in fact the only investment guide you’ll ever need, but it’s a pretty great start. This book walks you through the basics of all different kinds of investment options and also talks about who they might be appropriate for. I don’t agree with all the advice, but it’s a well-rounded, simple and clearly written book to introduce you to possible investment strategies from real estate investing to stocks to treasury notes.

 

 

The Bogleheads’ Guide To Investing – The Bogleheads community follow the tenets of Jack Bogle, founder of Vanguard. There focus in one passive investing strategies that rely on investing in low cost index funds. I don’t believe passive investing is the only way to make money (I personally know several active investors who have beat the market consistently for over 20 years). That said, it is an excellent primer on passive investing which I believe is appropriate for at least 75% of the population in the tradeoff of time/knowledge/stress/risk. Anyone who wants to actively invest should have a strong foundation in low cost index fund investing which should serve as a benchmark for their performance, which means it is a good read for everybody.

 

 

What Every Real Estate Investor Needs To Know About Cash Flow – This is a pretty math-heavy book, but to me it is the best way to approach real estate investment, whether it is an owner occupied or rental unit. Gallinelli talks about the four ways real estate makes money for you. He walks through the different ratios to evaluate an investment opportunity. This is a nice manual you’ll want to keep on your bookshelf and pull out every time you consider a home purchase.

 

 

The Four Hour Work Week – Tim Ferriss has put some pretty revolutionary ideas between the pages of this book. I found this in college and think it is an inspirational read with a focus on developing semi-passive investment by building your own business. He sells the idea of the nomadic lifestyle which is less appealing to me (indeed, it doesn’t appear sustainable for many people as Tim has settled down himself). Overall, it’s a great book and the revised version shares a bunch of case studies from successful readers which is a nice touch.

 

 

Lean In – I think everyone should read this book, whether you are a man or a woman. Sheryl Sandberg’s views on joining a rocket ship, being vocal at the table, and being present with pedal to the metal until you actually make some sort of transition are all tens of thousand of dollar type ideas. They will make you real money in your career. I’m ashamed to say that I avoided this book like the plague when it came out because I didn’t dig the feminist angle and thought I was already a confident pseudo-dude in the workplace, but she taught me a ton that I’m grateful for. A friend gave it to me with the advice to “get over yourself and read this book: it’ll be worth it.” I impart those same words to you.

 

Financial Freedom – This is the most updated book in the whole list and offers a comprehensive, easy-to-understand roadmap to understanding all the levers you can pull to attain financial freedom quickly. I’ve worked with Grant Sabatier (most recently on a no-holds-barred online course called Retire In 10 Year or Less), and he approaches the concept of money in a refreshing way compared to other financial writers. This is a nice launching pad into money, though I recommend moving through it slow and steady as there’s a lot of dense stuff to cover. 

 

 

The Power of Habit – This book isn’t strictly personal finance nor is it focused specifically on career. It’s better than that. This book is everything. The tenets of this blog are based on how powerful habits are in helping you achieve what you want. Duhigg walks you through all sorts of psychology research as well as the technique for identifying your cues, routines, and rewards, and substituting new routines in the loop to speed you to success. I have bought copies of this book for friends and family. I own it in hard copy and e-book. It doesn’t sound glamorous, but it is crazy effective. If I were able to jump up and down to get your attention for one book, this would be it. It’s game-changing if you actually apply it to your life. 

 

 

Are You More A Video Learner?

I’ve actually teamed up with one of the authors on this list to create a course called Retire In 10 Years or Less.  Created by two people who retired in their 30’s  as millionaires using very different paths, this is a casual, super clear step-by-step roadmap to how you can retire in 10 years or less. It includes videos, exercises, Q&A workshops recorded with past students, and quick wins that can net you dollars in your pocket today. You’ll emerge with a personalized blueprint. It comes with a satisfaction, money-back guarantee so it is NO FAIL.

 

 

My Biggest Tip for Financial Success: How To Earn More

You will find a thousand blogs with tactics about how to save an extra $10 or $15. Those are good, but there’s a limit to how much you can save. There is not, however, any limit to how much you can earn, and yet so few people think about how to move the needle on this. There has never been a better time to start your own side hustle, and the one I like the most is blogging because the content of any area you are interested in writing about can become a passive revenue stream for you.

 

 

There are blogs that make $20k-$50k for three hours of work a week once in maintenance mode. There are also huge successes where the blogger makes over a million dollars a year (from a boat in the middle of the ocean – they always seem to be somewhere exotic while running their online empire). Check out actual case studies of how bloggers make money. 

 

And if blogging isn’t for you, there are a host of other options to consider like doing freelance work on Upwork, hosting dogs on Rover, or renting out an extra room on AirBnB. Don’t let your day job limit your earning potential and set the trajectory for your early retirement.

 

How Are You Tracking Your Move Towards Freedom?

Whether you choose one of these books to guide you or you strike out on your own, you need to have a good sense of where you’re starting from. You make the most progress on things you can measure constantly. Check out the FREE expense, portfolio, and net worth tracker I use to monitor my own accounts. I share a more in-depth review of how I use it here. It takes five minutes to hook up and you’ll have a crystal clear view of your financial health.

 

 

Are any of your favorite books missing from this list? Tell us about your top reads in personal finance and career and why they make the list.

 

 

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Comments

  1. Alexis V says

    April 13, 2017 at 11:35 am

    I’ve always been a huge fan of How to Win Friends and Influence people by Dale Carnegie; it breaks down and emphasizes those soft skills that often go overlooked in the workplace and it’s a particularly great read when you aren’t feeling all those “team player” warm and fuzzies that are so touted in today’s work environment. I like to go back to it when I find myself frustrated by people. It’s great for young professionals who are learning the ins and outs of professionalism, and especially for new managers who now need to learn to motivate people to WANT to do good work for them.

    Reply
    • JP Livingston says

      April 13, 2017 at 6:51 pm

      Thanks Alexis. I don’t know how I forgot that one. Love that book!

      Reply
  2. John says

    April 13, 2017 at 11:55 am

    Thanks JP

    Good to know I’ve read at least half the books you’ve read. Will finish out the list this year;)

    Reply
  3. LKK says

    April 13, 2017 at 12:53 pm

    Hey there JP!

    GREAT post! You have put together an interesting list. They´re all fantastic reads. I never heard of this book about Real Estate Investing by Frank Gallinelli though. I went over the reviews on Amazon and I´m now quite impressed. My personal library lacks decent books on Real Estate Investing, so thanks for the suggestion.

    My favorite book is the Intelligent Investor by Benjamin Graham. I keep coming back to it like a christian to his Bible, particularly during times of trouble (aka bear markets). It´s an old book but the ideas within it are timeless.

    Reply
    • Dung says

      April 16, 2017 at 7:26 am

      Love that book!

      Reply
  4. Ariel Wilstead says

    April 14, 2017 at 10:56 pm

    Thank you for this list of books! As I age and realize what I want out of life, the need to get ahead of the money curve has drastically increased. I was never one to live paycheck to paycheck, but I’ve also never been one to save either. The suggestion of “Your Money or Your Life” has me hooked. I’m going to pick up a copy this weekend.
    Are there any blogs that you would suggest? I love books, but I find a daily dose of inspiration from a blog or website keeps me feeling motivated.

    Reply
  5. Rachel Flowers says

    April 16, 2017 at 10:18 am

    Also ‘ The Rules of Wealth’ by Richard Templar. Great and simple advice to create wealth and make it grow.

    Reply
  6. Rachel Flowers says

    April 16, 2017 at 12:34 pm

    Good list, JP. A few more suggestions – ‘The Richest Man in Babylon’, ‘Think and Grow Rich’, and ‘Rich Dad, Poor Dad’. I wouldn’t be close to achieving financial independence at age 32 had it not been for reading Robert Kiyosaki’s ‘Rich Dad’ series in my early twenties. Also, ‘The Rules of Wealth’ by Richard Templar. Great and simple advice on how to create wealth and make it grow.

    As essential as financial books are to planning an early retirement, I believe that mindset and psychology are just as important when aiming to reach financial freedom. I would then recommend any of Tony Robbins books for direction with this.

    Rachel, England.

    Reply
  7. Gabriel says

    August 2, 2017 at 7:52 pm

    The Richest Man in Babylon by George S. Clason

    Financial concepts are illustrated by stories. Saving, taking advantage of opportunities, overcoming bad decisiones, etc..
    Easy to read & reread. It is a financial literacy classic.

    Reply
    • JP Livingston says

      August 2, 2017 at 9:12 pm

      Ah, I enjoyed that one as well. Thanks Gabriel.

      Reply
  8. Andrew says

    August 16, 2017 at 9:17 am

    Love your book recommendations, I know you didn’t encourage necessarily reading a textbook but if you did for financial modeling of stocks did you have anything you liked for the curious?

    Reply
    • JP Livingston says

      August 16, 2017 at 11:25 am

      Hey Andrew. Can’t think of anything for financial modeling specifically. I did a lot of that in my career so I never sought out a book for it.

      Reply
  9. tiffyun says

    August 16, 2017 at 10:00 am

    I’d like to add to the list:

    Give and Take by Adam Grant. He groups people into 3 categories: GIVERS, MATCHERS, and TAKERS. He argues that the people are the bottom of the success ladder are mostly GIVERS, and the people at the top are also…GIVERS. He divides GIVERS into 2 additional categories: i) those who selectively choose whom they give to (help) thus avoiding TAKERS who are only out there to take what they can and leave ii) those who do not selectively choose and thus end up being burnt out b/c they get taken advantage of by GIVERS. The premise is that the more we give (help others, of course, selectively), we will succeed more. One quote I really liked from his book is also, “the true measure of a man is how he treats someone who can do him absolutely no good.”

    A book on financial knowledge – The Simple Path to Wealth, breaks down 401k, roth, IRA, charity foundation, index funds, bonds to a very, very easy.

    Reply
    • JP Livingston says

      August 16, 2017 at 11:25 am

      I think I read an interview with Adam Grant on that concept. Interesting stuff.

      Reply
  10. Gina says

    August 24, 2017 at 11:13 pm

    I am really enjoying your blog. Thanks for the advice on books. I also agree on Rich Dad Poor Dad. I have read it more than once.

    Reply
    • JP Livingston says

      August 25, 2017 at 10:38 am

      Hey Gina, glad you like it!

      Reply
  11. Gregory says

    August 27, 2017 at 1:18 pm

    My new favorite is ” Loaded: Money, Psychology, and How to Get Ahead without Leaving Your Values Behind” by Sarah Newcomb. Doesn’t explain how to get to the finish line but what might be holding you back.

    Reply
  12. James says

    February 4, 2018 at 9:26 pm

    Two books:
    1. Buffett: the making of an American Capitalist – best business biography.
    2. Relentless by Tim Grover – wow – just makes you get up and GO!

    Reply
    • JP Livingston says

      February 6, 2018 at 3:52 pm

      Thanks James. Will add them to my reading list.

      Reply
  13. The PDF Books says

    September 29, 2018 at 3:18 am

    The Millionaire Next Door is one of the best book that I had read.

    Reply
  14. Greenbacks Magnet says

    January 5, 2019 at 11:19 pm

    I am currently reading the Millionaire Woman Next Door. It is also a good reading. I also like Master the Money Game by Tony Robbins. Especially, the story of how Sir John Templeton turned $10k into a billion-dollar net worth. I highly recommend. Both are good reads. Nice list here. 😉

    Miriam

    Reply

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