Rich Dad Poor Dad is a personal finance book about using money wisely and smartly. It’s written based on the fact that Robert Kiyosaki has a rich and poor dad. It’s his dad and then a friend’s dad. He shows you the difference between how his rich dad treated money and how his poor dad treated money wasn’t necessarily rich dad earned more.
He had less physical cash flow and less money, but he did what he did with that money and how he used it to make a difference. This book shows you how that’s not always your best asset. Although real estate is a good option, you have to consider why you’re doing it.
Books like Rich Dad Poor Dad can help to improve your financial knowledge, build wealth, and achieve financial freedom. Each book offers a unique perspective and set of principles for achieving success in your financial life.
10 Books Like Rich Dad Poor Dad (Personal Finance & Wealth)
There are many fans and followers of Robert Kiyosaki and his book Rich Dad Poor Dad. If you search on Google or Youtube, you will find many success stories about these fans who implement this book in their lives. Many bankrupt companies and organizations bounce back and do great by reading and implementing the book’s theme.
As a fan of his, I also read similar books that help me make money and earn financial freedom. So I will discuss ten books similar to Rich Dad Poor Dad for you to grow your assets or wealth and be rich. Let’s go!
1. Money: Master the Game: 7 Simple Steps to Financial Freedom
Tony Robbins is a motivational speaker, entrepreneur, and businessman globally. He has given coaching to Nielson Mandela, Usher, Oprah Winfrey, and the biggest names in the industry. This book is about saving and investing in smart ways to achieve financial freedom. So that in the future, you have a passive income that can sustain and support your current lifestyle.
The book focuses in part on lifestyle and not money. So it talks about ways to increase focus, determination, and drive and what Tony Robbins does best: to motivate people to go out. It also makes a few good points about starting, saving early, and whether you’re in your thirties or wish to start in your 20s. If you’re in your 40s, you wish to start in your thirties, saying that it’s never too late for smart financial planning talks about the effects of compound interest.
So having money in the bank, $100 at 10 percent growth a year, would become $110, which would compound because you’d be getting interested in the principal and the effects of compound interest over time, which rises exponentially the further you go. So the longer that you can invest your money, the longer time you’ve got, the more chance you’ve got of achieving your financial freedom. It provides much insight into things that people may be unfamiliar with.
So many concepts around investing in bonds and stocks discuss investing in ISAs and tax-free areas. It talks about fees in certain pension pots and different things like that. So author provides you with knowledge and information you may not be familiar with, and it opens your eyes to make you think a little bit further.
Like Rich Dad Poor Dad, it focuses on improving financial awareness and goal setting. Tony Robbins always talks about setting goals, progressing, and making little steps toward a bigger goal. All these are good points and positive points from the book, and again, its stress is one of the key importance for pensions, particularly investment into stocks and shares and mutual funds.
Money Book Key notes:
- Understanding the financial industry is key to achieving financial success.
- Diversification and asset allocation are critical to reducing risk in your portfolio.
- Fees and taxes can significantly impact your investment returns.
- Creating a personalized financial plan is crucial to achieving your goals.
- Mindset and psychology are crucial in building wealth and achieving financial freedom.
Author: Tony Robbins
Average Rating: 4.6/5
Category: Investing & Trading, Personal Finance
Available: Audiobook | Paperback | Hardcover | Kindle | Audio CD
2. I Will Teach You To Be Rich
This book is a six-week blueprint to get you from A to Z regarding the basics of financial literacy. So in this book, you will cover how to optimize your credit cards and learn what to say in week one. The author gives you scripts to read while talking to your credit card company.
Learn what to say to waive overdraft fees and rack up rewards in week two. You will set up no-fee, high-interest bank accounts that won’t gouge you. After reading this book, I implemented the main thing: switching my bank from Chase to Schwab. There is no maintenance fee. You might be asking like twelve bucks a month. That’s only 144 dollars a year.
In week four, you will learn how to save hundreds of dollars a month and still have enough to buy what you love. You should be able to live the life you want. Buying the stuff you love within a healthy balance but still enjoying them because you don’t want to turn like a frugal miser to become wealthy, you’re going to be unhappy.
That makes no sense. You will automate your accounts in Week Five, which is super key. Automating your investing is helpful because you don’t have to think about it again once you automate and understand it. You may have to check it every couple of weeks at once, every couple of months.
In week six, you will see how investing is the single most important way to get rich and create a portfolio of your facts. This is how the tax code works. Employees will pay the highest tax. Self-employed people will then pay a little less. Big businesses will then pay even less.
You may not be able to create the next Amazon, but you can invest in Amazon or companies like Amazon or Index Fund. You can make your money work for you. It will give you a solid foundation in that game, along with the other games of money like credit bank accounts. So the book gives you financial advice similar to Rich Dad Poor Dad.
I Will Teach You To Be Rich Key notes:
- The importance of automating your finances and setting up a system for managing your money.
- The power of optimizing your credit score and using credit cards strategically.
- Investing early and consistently in low-cost index funds to grow your wealth over time.
- Understanding the psychology of money and overcoming common mental barriers to financial success.
- Building a rich life by focusing on what truly matters to you and aligning your spending with your values.
Author: Ramit Sethi
Average Rating: 4.7/5
Category: Economics, Personal Finance
Available: Audiobook | Paperback | Kindle | Mp3 CD
3. The Intelligent Investor
What’s your take on the intelligent investor by Benjamin Graham as a growth investor? So people are either value investors, meaning they like to buy cheap stuff that’s not growing fast. Where are the growth investors? They buy expensive stuff that’s growing fast. So Warren Buffett and the author of The Intelligent Investor are not growth investors.
As a growth investor, it will help you to the extent that you understand how other investors think, meaning value investors. We have to understand that all great growth stocks eventually become value stocks. They transition because they can’t grow anymore, and they can’t grow because they get too big.
Every company that is a growth company grows slows growth, and they lose all the growth investors. They transition over to value and never invest in a company transitioning from growth to value investors. It’s no man’s land, and it usually takes about a decade for a company after it stopped growing to lose all the growth investors and eventually become a value investment.
What can expedite that movement from growth to value? Is it private equity investors who get involved? That can be the catalyst for change. Sometimes you’ll see brilliant people like Carl Icahn. He is an activist private equity investor, buys a big stake in a company that’s stuck in no man’s land in investment purgatory, and makes changes quickly to make it unlock shareholder value.
So ensure you never invest in a company you’re unsure if growth investors want to buy or value investors. It’s stuck in the middle. That can be because the purgatory period can last ten years. Also, it can be dead money for a while. I hope you can quickly clear your mistakes and doubts and make money by reading them. If you love Rich Dad Poor Dad, you must try it.
The Intelligent Investor Key notes:
- The importance of value investing and buying stocks undervalued by the market.
- The value of analyzing financial statements to determine a company’s intrinsic value.
- The dangers of speculation and the importance of a long-term investment horizon.
- The role of diversification and asset allocation in reducing risk in your portfolio.
- The need to maintain a margin of safety and protect against potential losses.
Author: Benjamin Graham
Average Rating: 4.7/5
Category: Investing & Trading, Finance
Available: Audiobook | Paperback | Kindle
4. The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
Learning about personal finance is a must. You can do yourself a huge favor if you invest your time and money in non-enforcement finance. This book is very different from other personal finance books that you might find out there that give you a step-based methodology on how to be rich.
The Psychology of Money focuses on what makes you richer similar to Rich Dad Poor Dad. The idea of the book is that how well you or how good you are with your personal finance does not depend on how smart you are. It depends on your behavior. It is mostly the study of people’s behavior over time.
The author proposes that your personal finance and financial success and building up to that is not a science. It’s a soft skill that depends greatly on your behavior and the thought process you and the people around me have had over generations. Another idea proposed in the book is to understand the psychology of money and why some people are insecure and optimistic.
He then introduces the rule of law and the role of all risk in financial success, as you several stories. Every captivating story about these concepts goes orthodox about compounding inconsistency over time. Tony talks about how compounding he’s not back into debt, and many people truly do right by the power of compounding or using it for their benefit. They do not understand it and lack the patience to wait.
Most of us are trying to be rich by looking at people who seem rich but get inspired from the back. But the people, you should genuinely be inspired. These would be the people we should be from the author big about being rational and reasonable. Then talks about how most financial gurus expect you to be rational, but that is not something that comes naturally to you as a human being. You would not even be happy being rational.
The author also talked about how your financial goals changed over time, how you should not be yourself up about it, and how you should practice humility. Give yourself buying while you have financial goals, and do not feel bad. So these are the basic concepts that the authors discussed throughout the book. He gives several examples of the elected people to make his point of his concepts clear. The book showed me that confidence in myself that I needed very much. I found this book’s incredible concept as something you would want to discuss with others.
The Psychology of Money Key notes:
- Understanding the role of luck and timing in financial success and failure.
- The importance of developing a healthy relationship with money and managing your emotions.
- The power of compounding and the benefits of starting to invest early.
- The dangers of financial overconfidence and the importance of diversification.
- Building wealth by focusing on the process rather than the outcome and avoiding common behavioral biases.
Author: Morgan Housel
Average Rating: 4.7/5
Category: Money Management & Budgeting, Investing & Trading
Available: Audiobook | Paperback | Hardcover | Kindle
5. The Total Money Makeover: A Proven Plan for Financial Fitness
The author divided the sections with some steps that you can follow easily. Step number one, You need to save 1000 pounds quickly. This is an excellent step because it creates a buffer zone where you feel a bit secure. Dave Ramsey says you want to save 1000 pounds quickly because step number two is the debt eliminator.
To remove your debts, you want to save a thousand pounds very quickly in case any emergency happens in your life. Do whatever you need to do. You might have to sell something on Amazon or eBay. Save one thousand pounds as quickly as possible.
Step number two is The debt eliminator or the debt snowball guy. It is one of my favorite techniques for getting out of debt, which helped me. You need to list all your debts from the smallest to largest because once you start removing them, it acts in a psychological manner where you start believing that it’s possible to get rid of all debts. Debt is working against you like compound interest, which sometimes works for people to their benefit.
Step number three is, Finish the emergency fund. You need to save between three to six months’ worth of income in case any emergency happens in your life. It depends on how much you get paid per month. It’s going to create a buffer, a sense of security and peace in your mind where if an emergency comes up, that could be a sickness issue that could be being laid off from work. You’ve got something there to keep you going for a certain period. Do you want to know about the next step? Then pick it and read it after Rich Dad Poor Dad.
The Total Money Makeover Key notes:
- The importance of getting out of debt and living below your means.
- The power of budgeting and living on a written plan to achieve financial goals.
- The need to prioritize saving and building an emergency fund for unexpected expenses.
- The value of investing in appreciating assets and building wealth over time.
- The role of mindset and discipline in achieving financial success and living a debt-free life.
Author: Dave Ramsey
Average Rating: 4.7/5
Category: Investing & Trading, Retirement Planning (Best Seller)
Available: Audiobook | Multimedia CD | Hardcover | Kindle | Audio CD
6. The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life
How did the idea of early retirement sound? Or at least the financial security of knowing that you don’t have to work and won’t run out of money? JL Collins has been an investor since 1975. If you’ve heard of the financial independence and retire early movement or fire, he’s one of the grandfathers of the fire movement and his blog. He took his financial investing experience over his lifetime and started writing a series of letters to his daughter. Those letters eventually turned into the basis and starting point for the blog.
There are some key takeaways to understanding the book theme quickly. One, Starting when you work, you are in your wealth accumulation phase. You’re making money. At this point, you need to put money away for retirement. You need to spend less than you earn and invest the difference to do that. It’s pretty simple, but where do you invest that money comes to?
Point number two is three asset classes that JL Collins talks about for having your money. Their first one is the stock market. You’re probably saying the stock market is so risky. The stock market does go down, but it also goes up. On average, it always goes up.
Collins says you need to invest in broad-based index funds with low fees. These are not managed investments. Suppose you are paying someone to invest your money. You’re probably wasting your money. He is very, very against financial advisors.
As far as Collins is concerned, you’re not worth the money because the average investor can beat a managed fund almost every single time by investing and broad-based index funds. That’s the beauty of it. This simple path to wealth and the last point is that you must develop a stomach for volatility.
You can do everything to make money and ensure that you are financially independent and will have something to retire on. But this is beautiful because it’s buying the stock market, having a few bonds, and letting it ride. I recommend picking it up if you’re interested in any financial future.
The Simple Path to Wealth Key notes:
- The power of low-cost index fund investing for long-term wealth building.
- Living below your means and saving aggressively to achieve financial freedom is important.
- The dangers of market timing and the benefits of staying the course.
- The role of taxes in investing and strategies for optimizing tax efficiency.
- Build a simple, sustainable investment plan based on your goals and risk tolerance.
Author: JL Collins
Average Rating: 4.8/5
Category: Retirement Planning, Investing & Trading
Available: Audiobook | Paperback | Hardcover | Kindle | MP3 CD
7. Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
Like Rich Dad Poor Dad, this book is not for making money but for the real-life meaning and the balance of life. It’s a very well-put-together book that, when I read it, changed my mindset when it came to work and money and how it fits into my life. Once upon a time, earning a living was the means to an end. The means were earning, and the ending was living.
Over time, our relationship with money, earning, spending, investing, owning, protecting, and worrying has taken over a major part of our lives. Most of us spend more than 40 hours of the week’s total of 168 hours earning money. Do we come home from making a living activity with more life? Do we bound through the door, refreshed and energized, ready for a great evening with family and friends? Where’s all the life that we supposedly made at work?
The author says we’re not making a living for many of us. Instead, we are making dying. We are essentially wiling away our life energy on what we call a job, hoping that it will bring us meaning, fulfillment, happiness, and money.
Yet most of our hours of life energy are devoted to jobs. This is making a dying rather than making a living. So author talks about how it illustrates this, called the fulfillment curve. It shows the relationship between the fulfillment experience and the amount of money we spend.
Research from Nobel Prize-winning economist Daniel Kahneman about this relationship between money and happiness. He finds that more money does not lead to more happiness at a certain point. In some studies, that point of enough is around $75000 a year.
So ultimately, as Robin says, fulfillment is our compass and rudder for transforming our relationship with money. Thirdly, the author talks a lot about thinking of money as this nebulous concept instead of money as our life energy. The idea of money is quite hard to define, but what’s always going to be true is that money is what we exchange in our life.
There’s some interesting stuff here about jobs, the history of work, and how we think about money, leisure, and fulfillment. But if you want to learn how I’ve personally applied the principles here to achieve financial independence, read the book.
Your Money or Your Life Key notes:
- It is important to understand the true cost of your expenses and align them with your values.
- The benefits of reducing spending, increasing savings, and achieving financial independence.
- The value of tracking your spending and creating a budget to align with your goals and values.
- The role of mindfulness and conscious spending in achieving financial freedom.
- The need to find fulfillment in life beyond consumerism and material possessions.
Author: Vicki Robin
Average Rating: 4.5/5
Category: Budgeting & Money Management, Business Management
Available: Audiobook | Paperback | Kindle | Audio CD
8. The Millionaire Next Door by Thomas J. Stanley and William D. Danko
This book is a classic in personal finance literature and focuses on the habits of the wealthy. Authors researched millionaires in the United States and found that many accumulated wealth through hard work, frugality, and smart investing.
The book is filled with practical advice on how to adopt these habits and build wealth over time. It also emphasizes the importance of living below your means, avoiding debt, and investing in appreciating assets.
The Millionaire Next Door Key notes:
- The habits and behaviors of wealthy individuals who accumulated their wealth through hard work, frugality, and smart investing.
- Living below your means, avoiding debt, and investing in appreciating assets is important.
- The value of education, risk management, and perseverance in building wealth.
- The dangers of consumerism and the benefits of a low-profile lifestyle.
- Building wealth by adopting the habits and behaviors of successful people and developing a long-term investment strategy.
9. Think and Grow Rich by Napoleon Hill
This classic self-help book has inspired millions to pursue their dreams and achieve success. Hill interviewed hundreds of successful people, including Andrew Carnegie and Henry Ford, and distilled their wisdom into a set of principles for success. These include having a definite purpose, developing a positive mental attitude, and taking persistent action toward your goals. The book is an excellent source of motivation for anyone looking to improve their life.
Think and Grow Rich Key notes:
- The importance of having a definite purpose and a burning desire to achieve success.
- The power of positive thinking and visualization in achieving your goals.
- The value of surrounding yourself with successful people and building supportive relationships.
- The role of self-discipline, imagination, and faith in achieving financial and personal success.
- The benefits of persistence, determination, and a willingness to take calculated risks.
10. The Richest Man in Babylon by George S. Clason
This timeless classic teaches the principles of personal finance through parables set in ancient Babylon. It covers topics such as saving money, investing, and avoiding debt and presents them in an easy-to-understand format. The lessons are timeless and can be applied to modern-day financial challenges. The book is an excellent introduction to personal finance for anyone looking to improve their financial literacy.
The Richest Man in Babylon Key notes:
- The importance of saving and living below your means to achieve financial success.
- The value of investing in appreciating assets and diversifying your portfolio.
- The dangers of debt and the need to avoid borrowing for consumer purchases.
- The power of financial education and seeking advice from experts.
- The role of discipline, perseverance, and sound financial habits in building long-term wealth.
These books offer a wealth of knowledge and insight into personal finance, investing, and achieving success in your financial life. Reading them can help you develop the mindset, habits, and strategies needed to achieve your financial goals.
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