Must Read Books -1

Do you want to read books but do not know where to start? Which books to pick up?

Admit it, we all are bogged down by so many to do tasks that we do not want to add another activity that will eat up our time. In such a case, it is absolutely necessary to sift through the books we want to read in our lifetime and make a list of the must read books. This can be done by knowing on what topics we want to read the books and how it will help us enhance our knowledge at any given point of time.

Personally, I always have a TBR (To Be Read) list ready, If ever I find a book blurb interesting or a review that catches my attention, I immediately add it to my TBR list. Of course this also helps us in numerous other ways like suggesting subtle hints of the name of the books for gifting on our birthday :) etc.

I have a list of #mustreadbooks and I will start with the Series with one book name every week, I note down my observations and thoughts and feelings once I finish reading the book and this helps me to recap the book whenever I feel like going back to it. This habit also help me understand why I picked up the book in the first place.

Let's start with the First book in the series.

Psychology of Money by Morgan Housel.

About the Author

Morgan Housel is a partner at The Collaborative Fund.

His book The Psychology of Money has sold over one million copies and has been translated into 46 languages. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism. He serves on the board of directors at Markel.

The Plot of the Book?

This is not a handbook for making quick money !!

What this book does not have -

• This book does not have a 10 step formula to identify your investment strategy and become rich.
• It does not have complicated formulas to invest money * no of years, the application of which will make you a sound investor.
• It does not have Financial Jargon that will make you look cool by simply muttering them.
• It is not a book that will make you wise by telling you which stocks to invest in and how to predict the stock market.

What this book however teaches you-

• The thought process behind money whether it is earning, spending, saving, and creating wealth in the long term.
• How and what influences the mindset of the super-rich and successful people who seem to have got the investment formula right.
• How Luck, Risk, the era that you were born in, your parents, and all other factors affect your money habits.
• How we do not have to lose our sleep in order to arrive at a foolproof formula to find the right investment strategy and even if we are right 20% of the time with the right investments, we can still win.
• How Consistency and Compounding are 2 single factors that can determine our long-term investments.

Quoting many examples from History, the author lets us know that saving is not as complicated as you think and not that simple as you consider. Success in money can be different for each individual and the author himself believes in living frugally and within his own defined means.

The following Quotes hold importance for money

Freedom is the ability to do what you want, when you want, with who you want for as long as you want which is priceless, this is the highest dividend that money pays.

The lowest Dividend is not getting the respect and admiration of the people who you wish to impress by earning money and showing off.

Key Takeaways from this book

A wonderful read and I would recommend this to anybody who loves to lap up success stories and how successful companies come to be starting from scratch believing in the product and the value that the product gives to its customers, and where Money is never the motivator. Whatever it takes to succeed, Success is never build overnight and it take years of hard work for a company to be a total household name and the looking back at the journey you realize for an empire to be build, it takes years of sweat and toil of all the persons who put whatever they own into the making of a company.

#BOOKREVIEWS #bookreadinglove #booksthatinspire #mustreadbooks #nonfictionalbooks #bookreview1 #pyschologyofmoney #morganhousel

P.S. I love reading books and get transported to a different imaginary world. I adore and read Fiction books in the same enthusiasm that I read Self help or Memoirs and Non Fiction books. I run a book club and it is so liberating to talk to like minded people and read together and listen and discuss the different perspectives/takeaways that each one feels from reading the same book.