Can you get rich by reading? The case of Stephen Chen (Steve to his friends) proves that yes, it is possible. Chen is a lover of numbers and as a result he worked his way up to become a math teacher in Los Angeles. At that time he earned a very considerable salary: 4,200 a month. However, that salary was not enough to achieve the financial independence he desired.
“There is nothing more stressful than accumulating financial debt: credit card bills, rent…”, Chen explains on his website. Patreon“In my case, I live in California. Everything is very expensive. Saving 400-800 euros a month would not allow me to enjoy a comfortable retirement,” he added. Business Insider.
After analyzing his situation, Chen decided to make changes in his life. As a result, he went on to earn 23,000 euros a month from four different sources of money.
The changes that radically changed his life, and opened the doors to luxury, were mainly financial: he opened an investment portfolio and invested in ETFs. (in his videos he explains how it is normal to lose money at first; he waited until he started making money with it), He created a savings plan so that he wouldn’t waste money and would have enough for his retirement…
All these changes did not get the event 23,000 euros a month. In parallel, he had to work overtime as a teacher, open a channel Youtube (with patronage by Patreon), create a website about finance…
Chen had no doubt that all his efforts would pay off thanks to three books that guided him through the world of investing. Despite his background as a mathematics teacher, Chen knew nothing about the business world; It was these three books that helped him achieve that precious financial independence.
The 25 Most Influential Business Books Ever Written That You Should Read
These are the three books thatif you read carefully, taking notes and applying his advice, can make you earn more than 20,000 euros per month.
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Despite its title, The secrets of the millionaire mind It goes beyond the economic dimension, as its author explains the danger of negative and irrational thoughts. If you think something, even if it harms you, the mind will make it a reality, even if it is also harmed.
Within the economic world, the book reviews some of the negative thoughts about money: “only a few privileged people can be millionaires“If you become a millionaire you will be a bad person”, “It takes a lot of effort to be rich”…
The book explains how to change those perceptions, have a positive mind and, once you are fully committed to your mission of being financially independent, invites you to imitate the best habits of those who have already achieved it.
Again, many of the lessons in this book by coach Tony Robbins can be applied to life in general. Robbins is a master at helping you create short, medium and long term goals. Objectives that are also feasible, tangible, measurable… And that is what it does in Unbeatable: help you create a coherent, realistic and concrete plan to help you understand the world of finance.
If you are interested in exploring Tony Robbins’ self-motivation techniques, virtually all of his books are recommended. Unlimited Power: The New Science of Personal DevelopmentIt helps you reframe your negative view to prevent it from paralyzing you. Control Your Destiny: Awakening the Giant Within delve into Neolinguistic Programming or NLP, a coaching technique that helps you to rescue positive emotions to face difficult situations, among other incentives
A book that unfortunately has not been translated into Spanish. It shares the same great theme as the two previous ones: help the reader see money as something positive, as an abundant resource rather than a scarce one.
Beyond that, It is a great first guide to understanding the financial market. His big piece of advice may seem obvious, but many people forget it: investing is a long-term plan. Expecting immediate rewards, or making decisions based on the constant ups and downs of this world, will only lead to disaster.
Remember that reading a practical book is only half the battle. Take notes, write summaries, ask yourself questions about what you read and try to put into practice step by step all the advice you find. And pay attention to the other books mentioned by their authors: they hide possible paths to new secrets for financial independence.
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