I read a lot! I’m always at Chapters looking for a new book and I have a library full of financial, real estate, writing, self improvement and success books. Here are some of my personal favorites with a brief description of why I think they’re so wonderful. There is much more to come in this section.
THE WEALTHY BARBER – This was one of the first personal finance books I ever read (given to me by my wonderful Dad:) It is really the foundation of your financial empire and shows you how make financial independence possible on nothing more than an average salary. It includes things like The Ten Percent Solution, RRSP’s, Wills and Life Insurance, Planning for Retirement, Real Estate Investment, Saving, and Taxes. The best thing about it is that it is told as a story which makes it an enjoyable read.
THE AUTOMATIC MILLIONAIRE – This book is great for novice investors and there’s many more in his series. It describes how to make all of your saving and investing “automatic”. Basically, if you invest what’s “left over” at the end of the month, you’ll never get anywhere because there’s rarely anything left over. Once your payments, savings and investing are on autopilot, the important things are paid for first and after a while you don’t even notice (except that you’re getting richer).
MULTIPLE STREAMS OF INCOME – I loved this book for the sheer number of ideas it gave me to try and generate my own income streams. It gave me ideas I had never thought of and reinforced others that I knew about. If one idea doesn’t appeal, there’s many more to choose from. It really opened my eyes to the possibilities of passive income. The basic premise here is that if you have one stream of income (your job), it is very difficult to turn your wages into a fortune. With multiple streams of income you can sit back, relax and watch your money trees grow.
Building Wealth With Inner City Rentals – This book shows landlords how they can revitalize a troubled neighborhood and in turn, increase their cash flow, property values and quality of tenants. It describes the process as well as a detailed description of all the steps to take. It is an excellent book from a very knowledgeable author and gave me so many insights into the possibilities for lower end rental units. Click here to visit alewilliamson.