10 Must Read Books That’ll Change Your Perspective On Money

Harry S. Truman once said, “Not all readers are leaders, but all leaders are readers.” It’s no secret that the majority of CEO’s of Fortune 500 companies read an average of four to five books per month. Check out the top 8 on CEO lists.

Thou Shall Prosper by Rabbi Daniel Lapin

“Step one in the process of increasing your income is to begin wrapping yourself around these two related notions: 1) You are in business and 2) the occupation of business is moral, noble, and worthy.” (Page 19 of Thou Shall Prosper)

The concepts that he teaches are based off of ancient Jewish tradition and culture. Rabbi Lapin’s language is clear, straightforward, and challenging from the moment you pick up his hearty discourse. (Review posted by Ben Wallis of Actionablebooks.com) http://www.actionablebooks.com/en-ca/summaries/thou-shall-prosper/

The Ascent of Money by Niall Ferguson

“If the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they go wrong. Booms and busts are products, at root, of our emotional volatility.” ― Niall Ferguson

Ferguson’s biography of finance, told with verve and insight, throws more light on our predicament than perhaps even he realizes. The Ascent of Money charts the rise of money from clay tokens passed around the villages of Mesopotamia 5,000 years ago to flickering numbers on a foreign exchange screen; yet it also reminds us that money represents a relationship of trust. Ferguson argues persuasively that the development of money has gone hand in hand with the development of modern societies, by quickening transactions, loans and investment. (Review posted by The Telegraph, writer unknown) http://www.telegraph.co.uk/culture/books/non_fictionreviews/3562933/The-Ascent-of-Money-by-Niall-Ferguson-review.html

Linchpin by Seth Godin

“This is not a book for the wild-haired crazies your company keeps in a corner. It is a book for you, your boss, and your employees, because the best future available to us is a future where you contribute your true self and your best work. Are you up for that?” ― Seth Godin, Linchpin: Are You Indispensable?

In our society linchpins are those individuals that hold things together. Yes, organizations might succeed or thrive for a while without them, but eventually as pressure is applied and structures are tested, things will fall apart. Mr. Godin clearly illustrates that we are in a critical time of history. The age of cogs and factories worked for a while, but everything has changed. A new breed of worker and leader are now required. People who are linchpins are creative, good at connecting with others, and able to see solutions like no one else. As Seth Godin explains this concept to his readers, he turns their minds upside down in order to convince them that they are in some way capable of being one. He quotes Woodrow Wilson in his argument that we get exactly what we focus on. In the end we wind-up with drones that do what they are told. (Review posted by John Bergquist on Huffington Post) http://www.huffingtonpost.com/john-bergquist/seth-godins-linchpin-an-u_b_436421.html

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The Art of Possibility by Benjamin and Rosamund Stone Zander

“Money has a way of showing up around contribution because money is one of the currencies through which people show they are enrolled in the possibility you are offering.” (Page 173)

The Art of Possibility offers a set of breakthrough practices for creativity in all human enterprises. Infused with the energy of their dynamic partnership, the book joins together Ben’s extraordinary talent as a mover and shaker, teacher, and communicator and Rosamund’s genius for creating innovative paradigms for personal and professional fulfillment. (Review posted by Qiao Li of Norwich Business School) https://nbsbookclub.wordpress.com/2013/02/14/book-summary-for-the-art-of-possibility-transforming-professional-and-personal-life/

How Successful People Think by John C. Maxwell

“Success comes to those who have an entire mountain of gold that they continually mine, not those who find one nugget and try to live on it for fifty years. To become someone who can mine a lot of gold, you need to keep repeating the process of good thinking.”- John C. Maxwell

Dr. Maxwell calls reflective thinking “the Crock-Pot of the mind. It encourages your thoughts to simmer until they’re done.” While he didn’t call it “reflective thinking” at the time, John (in one of his Maximum Impact monthly audio teachings) clearly was describing this concept when he said “Experience is not the best teacher — evaluated experience is. Reflection turns experience into insight.” Everyone has experiences — very few people have evaluated experiences. (Review posted by Todd L. Herman) http://www.toddherman.com/improve-business/priming-pump-book-review

The Behavior Gap: Simple Ways to Stop Doing Dumb Things With Money by Carl Richards

“The goal isn’t to make the ‘perfect’ decision about money every time, but to do the best we can and move forward. Most of the time, that’s enough.” – Carl Richards

The book is about how we can improve our behavior with respect to money as the title of the book suggests. It strikes me as I am also a victim of my own irrational behavior with money and as such, I find the book a timely reminder to not follow the herd with respect to investing and how I manage my money. People like to hear advise on how to get rich quick and easy with the least of hard work while this book highlights the importance of hard work and slow and steady investing. Not exciting but in my own humble opinion, it is the truth and the earlier that we accept it, the better our lives would be. (Review posted by Calvin on Business Management Book Reviews). http://businessmanagementbooksreview.blogspot.com/2013/01/the-behavior-gap-simple-ways-to-stop.html

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The Richest Man In Babylon by George S. Clason

“Proper preparation is the key to our success. Our acts can be no wiser than our thoughts. Our thinking can be no wiser than our understanding.” ― George S. Clason

The Richest Man in Babylon first appeared on the scene in 1926 as a series of informational pamphlets on basic financial management. By 1927, several of these pamphlets had been compiled into a book and this collection has been in print ever since. In short, The Richest Man in Babylon is a series of financial parables. These stories are set in ancient Babylon and relate the story of a Babylonian regular guy who used some basic financial sense and built up a great deal of wealth. What’s so great about that, you ask? The stories are laid out like Aesop’s fables: each story has a concrete point or two that becomes apparent from reading and digesting the message. These points are basic tenets of how to get ahead financially in any time, not just in Babylonian times or in the 1920s. (Review posted by Trent Hamm on The Simple Dollar) http://www.thesimpledollar.com/review-the-richest-man-in-babylon/

One Up on Wall Street by Peter Lynch

“During the Gold Rush, most would-be miners lost money, but people who sold them picks, shovels, tents, and blue-jeans (Levi Strauss) made a nice profit. Today, you can look for non-internet companies that indirectly benefit from Internet traffic (package delivery is an obvious example); or you can invest in manufacturers of switches and related gizmos that keep the traffic moving.” – Peter Lynch

This book proves that successful investing can be achieved by almost anyone, given the right tools and mindset. I’d like to give a quick review on this must-have, bestseller book on investing, so that you too, can benefit from it. This book is solid in terms of content and writing style. Lynch has a knack for telling his story with a twist of humor and common sense. He writes in a casual tone that anybody can relate to, and he can make seemingly complex ideas easier to understand. (Review posted on Wealth Lift Blog) http://www.wealthlift.com/blog/book-review-wall-street-peter-lynch/

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The Total Money Makeover by Dave Ramsey

“Winning at money is 80 percent behavior and 20 percent head knowledge. What to do isn’t the problem; doing it is. Most of us know what to do, but we just don’t do it. If I can control the guy in the mirror, I can be skinny and rich.” ― Dave Ramsey

Ramsey debunks the many myths of money (exposing the dangers of cash advance, rent-to-own, debt consolidation) and attacks the illusions and downright deceptions of the American dream, which encourages nothing but overspending and massive amounts of debt. “Don’t even consider keeping up with the Joneses,” Ramsey declares in his typically candid style. “They’re broke!” (Review posted by Jared O’Toole on Under 30 CEO) http://under30ceo.com/money-tips-10-best-personal-finance-books-of-all-time/

Against the Gods: The Remarkable Story of Risk by Peter L. Bernstein

“The prospect of getting rich is highly motivating, and few people get rich without taking a gamble.”   ― Peter L. Bernstein

The late financial economist was America’s leading philosopher of risk and a wonderful translator of modern finance theory, converting math-heavy ideas into easy-to-understand sentences for everyone. Against the Gods is a delightful exploration into the evolution of our understanding of probability and chance, filled with reminders that judgment truly matters in the world of finance (as Jamie Dimon, head of J.P. Morgan Chase, learned to his chagrin when the bank’s trader known as the London “Whale” recently lost several billion dollars on speculative bets gone bad). The real return from reading Against the Gods is a far greater appreciation of the importance of managing risk in our financial lives. (Review posted by Chris Farrell on Next Avenue)