Recommend me good wealth building books

wiredniko

wiredniko

Jedi in training
Jul 20, 2010
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New York
I am not looking on books that tell me how to save money, but looking for something along the lines of what to do once I have money to make even more.

I am mystified by the process, do I buy real estate, stocks, bonds, mutual funds?

It seems the worst thing I can do is leave money in the bank.
 


[ame=http://www.amazon.com/s/ref=nb_sb_ss_i_0_14?url=search-alias%3Daps&field-keywords=warren+buffett&sprefix=warren+buffett]Amazon.com: warren buffett[/ame]
 
The linked fucked up but the KW was Warren Buffett, only type book(s) I've read were he's not marketing his own shit.
 
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wiredniko said:
I am not looking on books that tell me how to save money, but looking for something along the lines of what to do once I have money to make even more.

I am mystified by the process, do I buy real estate, stocks, bonds, mutual funds?

It seems the worst thing I can do is leave money in the bank.
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Re-invest in whatever made you the money in the first place. Why do you want to spend a ton of time mastering how to generate a nice ROI through real estate, stocks, bonds or mutual funds?

Spend that time and money on what's already working for you.
 
Falian said:
Re-invest in whatever made you the money in the first place. Why do you want to spend a ton of time mastering how to generate a nice ROI through real estate, stocks, bonds or mutual funds?

Spend that time and money on what's already working for you.
Click to expand...

^ This. Keep at it bro.
 
Falian said:
Re-invest in whatever made you the money in the first place. Why do you want to spend a ton of time mastering how to generate a nice ROI through real estate, stocks, bonds or mutual funds?

Spend that time and money on what's already working for you.
Click to expand...

Agreed; reinvesting right back and growing your internet real estate portfolio. It pays better rent.
 
Falian said:
Re-invest in whatever made you the money in the first place. Why do you want to spend a ton of time mastering how to generate a nice ROI through real estate, stocks, bonds or mutual funds?

Spend that time and money on what's already working for you.
Click to expand...

Diversification = risk mitigation.
 
papajohn56 said:
Diversification = risk mitigation.
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Wise words, but Falian is right as well - the best ROI will come from your own business. If you have extra money, then the best way to invest will (believe it or not) vary, depending on your age: if you are in your 20s, then high risk investment options are OK, if you are 45+, then stick to low-risk options.
 
papajohn56 said:
Diversification = risk mitigation.
Click to expand...

I agree. Having said that, it still doesn't mean you need to spend hundreds of hours getting good at another form of investing. Outsource it, hire a broker.. toss money in a mutual fund, invest in your IRA.

There's a lot of ways to diversify your portfolio without having to spend a lot of time that could be used making $$$ at your business.
 
Fast cars, high price hoes, expensive drugs. Fuck it -- you only go around once. Treat yourself, you work hard; you deserve it!
 
Not surprisingly, there is some damn good advice here. Good work all around.

I don't have a lot to add on this thread, but I do read.

This is something I try to keep fresh in my mind.
48 Laws of Power

And if you're looking for something somewhat off-topic, try anything by Malcolm Gladwell.
 
While you decide WTF to do, you can always dump your extra into INGdirect. I do this and it at least gives you a few points on your money annually while you figure out where/what to do w/it without having to lock in for any amount of time vs GIC's/traditional banking products or savings accts.
 
This is a great one- [ame=http://www.amazon.com/Real-Estate-Boom-Will-Bust/dp/0385514352]Amazon.com: Why the Real Estate Boom Will Not Bust - And How You Can Profit from It: How to Build Wealth in Today's Expanding Real Estate Market (9780385514354): David Lereah: Books[/ame]
 
Richest Man in Babylon is actually a great book in investing, a bit conservative and basic, but a good read!

- Carlos Motoza
 
This book was written by Burton Malkiel. One of the guys Google brought in to speak to the employees just before they all became millionaires.

[ame="http://www.amazon.com/gp/product/0393058549/ref=as_li_ss_tl?ie=UTF8&tag=workcurve-20&linkCode=as2&camp=1789&creative=390957&creativeASIN=0393058549"]The Random Walk Guide to Investing: Ten Rules for Financial Success[/ame]
 
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