This week on my blog I will be talking about educating yourself. And we won’t be discussing just any sort of education – we will go into some depth on the kind of knowledge that you need to get out of the bad financial situation you likely find yourself in and into something better.
I’d like to start by going over what sort of reading material you should have on your nightstand (or Kindle, iPhone, etc.).
First and foremost, I have to plug my own book. After all, I put a whole lot of work into that thing and I honestly think that it is a great place for you to begin. So if you haven’t already, please go to Amazon.com or BarnesandNoble.com to purchase a copy of my book Forever Cash. It will start you thinking in a completely new way.
Second, I can’t recommend enough reading over the transcript of Charlie Munger’s 1995 speech to students at Harvard Law, which you can download for free by going to www.forevercash.com/munger. In this unforgettable speech (which lasts roughly 75 minutes) Mr. Munger delves into the psychological tendencies that make people act the way they do in the marketplace. Not only can it help you become a better business person, it helps you understand why people occasionally make such irrational decisions in their lives.
Third, pick up a copy of Robert Kiyosaki’s book Rich Dad, Poor Dad. I personally read this book at least once per year. The book helped firm my resolve that following the traditional advice to “Get a good education and get a job with a company” wasn’t the way to go. And Mr. Kiyosaki has such a folksy and down to Earth way of writing that I have no trouble reading his words over and over again.
Two more great reads are Three Feet from Gold: Turn Your Obstacles in Opportunities (Think and Grow Rich) by Greg S. Reid which teaches perseverance, and The Millionaire Next Door by Thomas J. Stanley, which illustrates the truth of the adage: “It’s not how much you make; it’s how much you keep”.
Educating yourself starts with taking in the knowledge that you personally need, and one of the best and time-honored ways of doing so is by taking the time to read something new.