MONEY Books You NEED To Read: Episode 183 - Rachel Ngom (2024)

Book #1: “The Total Money Makeover” by Dave Ramsey

(1:27)

What I Learned:

• How to be Debt free
• Why you should buy cars in cash
• The importance of having an emergency fund
• Have a business emergency fund too
• Move at the speed of cash

“The average American can not afford to pay for a $500 emergency”

“Live a very lean business”

“Move at the speed of cash”

Book #2: “You’re A Badass At Making Money” Jen Sincero

(4:30)

What I Learned:

• Money Mindset
• Limiting beliefs holding you back
• You will only earn what you think you can earn in your business

“You’ll only earn so much money as you believe to be true”

“Believe that you’re capible of becoming a millionaire”

Book #3: “The Millionaire Next Door” by Thomas J. Stanley

(5:24)

What I Learned:

• Looks can be deceiving
• The neighbor wearing a t shirt probably has way more money than the neighbor wearing Gucci driving a BMW

“Our goal is to be the millionaire next door”

“If you look at my clothes, it’s nothing fancy”

Book #4: “Automatic Millionaire” by David Bach

(6:15)

What I Learned:

• Automate your investments
• Set it up so that you automatically pay yourself first, then your bills

“You can pay yourself first before you pay your bills”

“If you look at my clothes, it’s nothing fancy”

“Vanguard is what we use”

Book #5: “Rich Dad, Poor Dad” by Robert Kiyosaki

(6:50)

What I Learned:

• There are 4 quadrants:
  • 1: Employee
  • 2: Small business
  • 3: Big business
  • 4: Investors
• If you’re an employee or small business, you end up paying the most in taxes, and get screwed with taxes.
• If you have a big business or are an investor, that’s when you get the most tax advantages and get the opportunity to build the most wealth.

“We need to get into this investor category stat”

Book #6: “Unshakeable” by Tony Robbins

(7:42)

What I Learned:

• An easier read of the Tony Robbins money books
• All about business strategy and investing

Book #7: “Money: Master The Game” by Tony Robbins

(7:46)

What I Learned:

• The playbook of investing
• He interviews some of the brightest financial minds on the planet
• This book went over my head at first

“It gets easier the more you start to read this stuff”

Book #8: “The Millionaire Maker” Loral Langemeier

(8:38)

What I Learned:

• Use your business as a money machine to invest in other things
• Invest in real estate or the stock market. It’s good to have investments in different areas

“You have to take money off the table from your business, pay yourself, and the use that money to make other investments”

Book #9: “The Legacy Journey” by Dave Ramsey

(9:21)

What I Learned:

• What you can do with money you make: how you can make a huge impact on the world through the legacy you make, so you can give more
• If you struggle with making money as a christian
• Don’t think the love of money is evil

“When you are wealthy, you can create a bigger impact on the world”

“When you make more, you can give more”