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10 Must-Read Books on What Money Can't Buy
Explore these 10 insightful books that reveal the true value of money and what it can't buy, from happiness to meaningful relationships.
Book Summaries
Timeless lessons on wealth, greed, and happiness
Morgan Housel's 'The Psychology of Money' delves into the emotional aspects of wealth, offering timeless lessons that highlight the importance of mindset over mere financial success.
3 Key Takeaways:
- Money is deeply personal and emotional, not just mathematical
- Saving is crucial, regardless of income level
- Compounding is a powerful force in wealth building
Deluxe Special Edition
Clason's classic 'The Richest Man in Babylon' teaches timeless financial principles, showing that true wealth is built on wisdom and discipline rather than mere accumulation.
3 Key Takeaways:
- Pay Yourself First: The Foundation of Wealth Building
- Live Below Your Means: The Path to Financial Freedom
- Make Your Money Work for You: The Power of Compound Interest
Inside the Doomsday Machine
Michael Lewis's 'The Big Short' reveals the dark side of financial markets, illustrating how greed and ignorance can lead to catastrophic consequences, showing that money can't buy foresight.
3 Key Takeaways:
- The subprime mortgage crisis: A perfect storm of greed and ignorance
- Wall Street's dangerous obsession with complex financial instruments
- The role of credit rating agencies in facilitating the crisis
The Surprising Secrets of America's Wealthy
Stanley’s 'The Millionaire Next Door' reveals that true wealth often comes from frugality and discipline, challenging the notion that money equates to happiness or status.
3 Key Takeaways:
- Most millionaires live well below their means and prioritize financial independence over social status
- Wealth accumulation is more about discipline and frugality than income
- Economic outpatient care often hinders adult children's financial independence
The Hidden History of the Billionaires Behind the Rise of the Radical Right
Jane Mayer's 'Dark Money' uncovers how wealth can corrupt democracy, illustrating that money can't buy integrity or genuine influence in society.
3 Key Takeaways:
- The Koch brothers built a powerful political network to advance their libertarian agenda
- Dark money from wealthy donors reshaped American politics after Citizens United
- The Tea Party movement was largely funded and orchestrated by conservative billionaires
Crack the Code to Wealth and Live Rich for a Lifetime!
M.J. DeMarco's 'The Millionaire Fastlane' challenges conventional wisdom, arguing that true wealth comes from creating value and living life on your own terms, not just accumulating money.
3 Key Takeaways:
- The Slowlane vs. Fastlane: Choose Your Path to Wealth
- Time is Your Most Valuable Asset: Leverage It Wisely
- Abandon the "Get Rich Slow" Mentality
Notes from a Street-smart Executive
Mark H. McCormack's classic offers practical insights into the often-overlooked aspects of business and negotiation, emphasizing that success is about more than just financial acumen.
3 Key Takeaways:
- Master the Art of Reading People and Creating Impressions
- Timing is Everything: Learn to Wait and Seize Opportunities
- Effective Selling: Know Your Product and Understand Marketability
The Japanese Art of Making Peace with Your Money
Ken Honda's 'Happy Money' offers a refreshing perspective on the emotional relationship with money, emphasizing gratitude and self-awareness over mere financial accumulation.
3 Key Takeaways:
- Money is energy: Happy Money vs. Unhappy Money
- Your relationship with money shapes your financial reality
- Heal your money wounds through gratitude and forgiveness
An Entirely New Road Map for the Biggest Financial Decision Your Family Will Ever Make
Ron Lieber's 'The Price You Pay for College' emphasizes that the true value of education goes beyond its cost, urging families to consider what money can't buy in terms of experience and opportunity.
3 Key Takeaways:
- The college pricing system is complex and often opaque
- Merit aid has become a widespread discounting strategy
- Fear, guilt, and snobbery influence college decisions
