The Top Five Audiobooks That Teach You How To Grow Wealth In 2019
By listening to a little over 33 hours of pure, distilled knowledge, you could save yourself 15 years of work. Bring your retirement forward by following the advice of the best in the business.
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1. The Little Book That (Still) Beats The Market (2005)
- Written by Joel Greenblatt
- Narrated by Adam Grupper
- Running time 3h51m
This is the audiobook that made me believe that beating the market is achievable for the average investor. You don’t need a team of analysts or a degree in economics to generate above-average returns. In this book the highly successful fund manager and professor at Colombia Business School outlines a ludicrously simple strategy that even his young children can follow, in fact, his children were the inspiration for writing this book.
He says that by investing in good businesses while they are trading at discount prices, you can beat the market and most hedge fund managers out there. He uses only two metrics to determine which companies to buy and advocates holding them for one year, he calls this ‘The Magic Formula.’ He has put the formula online for free here: https://www.magicformulainvesting.com so you can use it yourself once you’ve listened to the book.
The Little Book That Beats The Market is a New York Times best seller and is already a classic with over 300,000 copies in print. There is a more up to date version (The Little Book That STILL Beats The Market) published in 2010 that also has incites into the 2008 financial crash. Unlike The Intelligent Investor, it is very easy listening, funny and the concepts are simple. We use several facets of The Magic Formula in our own investing strategy, such as dollar cost averaging and focussing on buying good business at a discount.
If you are looking for an easy introduction into investing strategy with little or no prior knowledge, this is my number one choice.
2 . Charlie Munger: The Complete Investor (2015)
- Written by Tren Griffin
- Narrated by Fred Stella
- Running time 6h 21m
Charlie Munger is the Yang to Warren Buffett’s Yin and vice chairman of their wildly successful investing firm Berkshire Hathaway. He is investing royalty and notoriously secretive, Warren calls him ‘the abominable no man’ due to his stringent criteria for allowing the purchase of shares.
This audiobook focuses on Munger’s interviews, speeches, letters and investing strategy. It provides much more than investment advice; it is a book about how to think about the world and how to acquire elementary, worldly wisdom.
You get to know the man and
his philosophy well through the dulcet tones of Fred Stella’s narration. I
gobbled this up in one week and it left me feeling in awe of this Zen-investing
master, and craving more.
- Written by Robert T. Kiyosaki
- Narrated by Tim Wheeler
- Running time 6h9m
Your wealth is not dependant on your salary; you can earn a great deal and still be poor, you can earn a modest amount and end up rich. This book may not provide much in the way of stocks and shares advice, but it is the book that lead me to seek out ways of making passive income, of making my little piles of money go out into the world and make more money for me. I can honestly say that it changed my life.
Through a story about a child with one rich Dad and one poor Dad, Robert Kiyosaki shows the reader how they can end up successful even without a six-figure salary. This is done by resisting the ‘keeping up with the Jones’’ mentality and instead striving to acquire assets rather than liabilities. As with all of these recommendations, there is no simple trick here, it is about investing in yourself, in your own knowledge and making sure that you are looking after your future first.
4. The Richest Man in Babylon (1927)
- Written by George S. Clason
- Narrated by Mike Vendetti
- Running time 4h4m
Without doubt one of the best books on personal finance ever written. It was originally a series of informational pamphlets handed out by banks as a way for the clients to become wealthy and stay wealthy. The lessons are taught through Babylonian parables and are just as useful today as they were in the 1920s and presumably would have been in ancient Babylon.
In particular, ‘the nine cures for a lean purse’ are all wonderfully helpful and each comes with its own fable. I have all nine written on my noticeboard, I recommend you do the same!
The ten hours it would take to listen to The Richest Man In Babylon and Rich Dad Poor Dad could easily save you ten years of work in the future.
If you want to feel inspired, if you want the feeling that you can achieve anything, if you want to speak mandarin to your personal assistant in New Delhi during a bare-knuckle boxing session in Taipei while earning thousands of dollars a month, this might be one for you.
What this book will do for you: give you a kick up the rear, put big ideas in your head and maybe give you the impetus you’ve been waiting for to make changes in your life. Tim Ferriss is an amazing guy; he advocates a life free from your inbox, from meetings and wasting time. Batch, outsource, go and live more life.
Dreams are important, and with The 4-Hour Work Week Tim gives us the ideas and the practicalities to go out there and make ourselves successful. If you take nothing else from this book, it will make you understand that you don’t have to spend your life doing a job you hate, there are innumerable options if you open your mind to them.
Go forth, young Ferrissians, and find out for yourself.
