I am a /fit/zen who is new here. Business and finance is a new interest to me so where better to go for information on the subject than 4chan!
For all new people on /biz/ let's get an information thread with all the best books, info images, links etc. to share information.
Starting out I have found the following two books to be great:
- I will teach you to be rich by Ramit Sethi
- 4 hour work week by Tim Ferris
The first one is GOAT for personal finance as it has all the most relevant information for 20-30 year olds.
4 hour work week contians a deal of bull shit, however there are lots of small tips on starting a business and improve your productivity!
Early Retirement Extreme by jacob lund fisker, now with this book its not a "easy peazy any schmuck" type read - it'll take some concentration, also you don't have to actually have to want early retirement
what this book does which I think is beautiful is it shows you just what your spending is costing you and introduces a systems approach to your life and finances, I think its a must read because even if you're frugal by modern standards you're actually still very much a consumerist whore - eye opening
image related, left to right on the x axis we have % of income after taxes saved (and invested) , y axis (up and down) years you have to work with that savings rate to retire, the colored curves represent a return on your savings (investments) - you could presume about 7% by just having stocks in an index fund (like vanguard) - keep in mind you'd be reinvesting 2-3% to hedge against inflation
google "firecalc" for more on this
the numbers dont lie though, think about it reight now - how much of your income do you save and invest? is it none? it is isnt it? now look at the chart - see how you'll never be able to stop wage slaving?
Rich Dad Poor Dad by the genius Robert Kiyosaki is a fucking must-read.
The life changing book that has been a personal finance best seller for over a decade. This little book has changed the lives of many people and their perspective on money, who are in misery, not knowing how to make ends meet due to lack of financial education. The contents of this book, tells the story of a young man, who is the author himself, being brought up by his natural father the conventional way of getting a job, saving every penny, working hard and climbing the corporate ladder. At the same time, he also had a "second father" who taught him a different way to view things and how to start from scratch and build his business into an empire.
I am sure many of us can relate to the story on the part where we were being brought up the conventional way to become workers. As much as we don't wish it to be that way, ironically, the education system plays a very big part in educating our fathers and their fathers to be trained into workers instead of educating them and inspire them to become business owners. Ignorance of other available choices, we are trapped in a eternal cycle of working for money, saving up and spending on wasting assets that constantly drains our finances and loses value over time. Welcome to the rat race! Unless we learn and educate ourselves on personal finance, we will be unknowingly stuck with only one way of thinking, and passing that knowledge on to the next generation. Talk about vicious cycle!
This book has certainly made a huge impact on my life, why not read it and see if it will change yours as well?
Make that difference now.
(remember to buy a new copy at a physical bookstore. Sure you can buy a used book on amazon or even 'pirate it' and end up in jail, but like with anything that comes cheap or easy, it will mean nothing to you. Show your commitment to getting RICH and buy a physical copy today!)
>Buy everything on margin
>as long as your usual income beats out your maintenance costs, you can never lose!
>Lose one income stream, your debt piles up.
>Default on heavy leveraged loans
>a-a-at least I bought this book new!
Shill please, no spam.
Watch Bill Ackman - Everything you need to know about finance in under an hour
Ray Dalio - The Economic Machine
and read Pragmatic Capitalism
For personal finance look into early retirement, but most of it is obvious. Spend as little as possible, save as much as you can, retire when assets are roughly 25x yearly expenses
I like you OP. Can confirm I will teach you to be rich is fantastic. I've read it twice.
Also great taste in women. Christine mendoza is so hot.
Ill prob check out 4 hr work week now. Good luck with your life buddy
enterageRam - Ramit's Guide to Networking w/ Scripts
Credit - The Credit Secrets Bible, with this and creditboards.com I got 75k overnight in new credit
RichCharles - Poor Charlies Almanac, Charles Munger is Warren Buffets Right hand Man
FICO Score Effects is a Regression analysis done on memebers of the Creditboards.com scores.
2kshekels - Ramit's Earn $1k on the side 2.0
EP SMW - Eben Pagan Self Made Wealth. If money has any degree of emotional control over you go through this program. This is a learned behavior and you need to unlearn it.
ShinyJewRock - Gold Rush Formula, how to buy real gold and silver and avoid the 30% markup/down on the transfer.
MD TEG - Mike Dillards the elevation group, Newly Rich Marketer gets marketed to hard and loses a lot of money. Buys life insurance, guns, 100x+ Returns Forex Trade system, Gold +Silver and storage just before the metals crash, and a few more things.
Options as Strategic Investments, Lawrence G Macmillan - basically the bible of Options trading.
Spirit Animal - Tim Ferriss' the 4 hour Life Healthy, Wealthy, and Wise - An interesting cast of characters share their highly leveraged secrets to an array of subjects, while Tim discusses Learning How to Learn and his own version of Meta Learning. One successful business launch, you can buy the product in whole foods today. A lot on working for inspiration and product creation. How to earn your success, through thought and practice.
RSFF - Ramit Sethi's Finisher's Formula, Get Shit Done
TripleMaximumWageSlave- Ramit Sethi's Find Your Dream Job - his 20k Flagship program on finding and securing your dream job through the Dark Market.
JK PMBA- Josh Kaufman's Personal MBA Video Course a solid intro to business.
Didn't like this book. I don't understand the hype. It has a few useful tid bits but not much else. If I hear the words "sound financial education" one more time I'm going to loose my shit.
Think and Grow Rich. This was the most important and influential book for me, because it's hard to teach someone how to invest their money.
What this book provides is the mindset that the money is out there, and all you have to do is walk up and take it.
The Investing Podcast is a rather informative podcast. I like how well everything is explained.
Stop Acting Rich: ...And Start Living Like A Real Millionaire is a must read. There's far too many people spending all of their money trying to impress strangers while being broke.