TSI #40: Three books to help you retire 20 years earlier

Hello Stoic Investors,

Today I want to focus on learning. Every single millionaire I have heard about is addicted to learning. And I’m not exaggerating.

Steve Jobs once said: “Learn continually – there’s always “one more thing” to learn!”

I could not agree more.

So for everyone out there that would like to retire faster, I have something for you.

Here are three books that changed my life.

They just might change yours too.

Book number 1: Money: Master the game

Tony Robbins is the nation's #1 life & business strategist. According to Forbes, he has grown his net worth from zero to around $500 million.

Here are Tony’s key lessons to better manage your money:

1. Start investing early and prioritize it to take advantage of the power of compound interest.
2. Always diversify your investments and consider different asset classes to spread risk.
3. Be mindful of fees and taxes, as they can significantly impact your returns over time.
4. Set specific financial goals and create a plan to achieve them.
5. Emotions can sabotage your investing strategy, so stay disciplined and avoid making impulsive decisions based on fear or greed.

Book number 2: Think and grow rich

This 86-year-old book is by far one of the best books to adjust your mindset.

While the title suggests the book is about money, it's more about a way of life. The author, Napoleon Hill, presents guiding principles for success in all areas of life.

Most successful people follow these principles:

1. A burning desire for success is crucial to achieving it.
2. Set specific, measurable, and attainable goals and create a plan to achieve them.
3. Persistence and determination are essential to overcome obstacles and achieve success.
4. Surround yourself with like-minded individuals who share your goals and aspirations.
5. Your thoughts and beliefs shape your reality, so cultivate a positive mindset and visualize your success.

Book number 3: The little book that beats the market

I think every investor needs to read this book at least once. It’s the perfect place to start learning about financial markets and stocks.

Here are the key lessons from Joel Greenblatt’s masterpiece:

1. Investing in simple, easy-to-understand companies with a competitive advantage can lead to superior long-term returns.
2. Avoid overpaying for stocks and focus on profitable companies
3. Look beyond short-term market fluctuations and focus on the fundamentals of the company.
4. Diversify your portfolio to reduce risk and focus on buying companies with attractive valuations.
5. Patience and discipline are crucial to successful investing, so resist the urge to make impulsive decisions based on market volatility.

I hope you enjoyed these summaries.

If you’d like me to write more articles like this, please let me know.

In the meantime, note down these points and start learning today:

1. The more you read the more you know
2. The most useful money skills can be found in great books