The Richest Man in Babylon
The Richest Man in Babylon may be the most recommended book on personal finance that I have ever heard of. George S. Clason wrote this book as a parable to help make the principles more memorable.
The principles of personal finance revolve around having the discipline to stick to a particular budget.
In this budget, you must always set aside at least 10 percent of whatever you earn for savings.
70 percent of your income should be the upper limit of your living expenses. This includes all essentials, like housing, clothing, and food.
The remaining 20 percent is yours to do with in whatever fashion you like, although many people who start to see their money grow like to start saving more of their money towards accumulating wealth and security.
With the 10 percent of your income that you are continually saving, you need to make that money work for you and not just sit. In the modern era this often means investing your money into things like index funds and stocks. One part of this principle that is made clear in the book is to adapt as quickly as possible to setbacks in your investing strategy and finding trusted professionals who have more experience than you and investing with them. You should not invest your money in areas where you are not familiar.
The Count of Monte Cristo
Revenge is a dish best served cold. The count would handle revenge the same way as what he his friends in the book is the root of all human wisdom- "Wait and hope."
The Count of Monte Cristo is the 1800s version of a superhero story - you've probably heard of it before. Although in many ways it feels like the origin story of more of a villain in some ways. Just as Bane tells Batman that he was born in the darkness, so was Edmond Dantes and his unending journey to get revenge on those who wrongfully imprison him out of jealousy and greed.
Edmond spends 14 years wrongfully imprisoned, exacting his revenge on those who locked him away in a black cell. Upon escaping the prison he works to dismount the lives of his enemies.
I've heard the book described as being too long but it rarely loses the reader's interest even at over 1200 pages. There's a purpose with developing all the characters and the interweaving of stories in making this a long book, If you want to read a classic work of fiction that has a powerful lesson to be had from it, you can't go wrong with The Count.
Who is this book for: anyone who feels they are too hot-headed and could benefit from practicing stoicism and patience.
Who this is not for: Anyone without the patience for an extremely long book (but at the same time, this is exactly who needs it most).
"I have only two adversaries - I will not say two conquerors, for with perseverance I subdue even them, - they are time and distance... What men call the chances of fate- namely, ruin, change, circumstance- I have fully anticipated and if any of these should overtake me, yet it will not overwhelm me."
The Fountainhead
The Fountainhead - Ayn Rand
“Every man creates his meaning and form and goal. Why is it so important what others have done? Why does it become sacred by the mere fact of not having been your own? Why is anyone and everyone right - so long as it’s not yourself?”
In Tribe of Mentors, of the 'mentors' that were interviewed about entrepreneurship, The Fountainhead by Ayn Rand stood out as the most recommended book. Some went so far to say that it should be compulsory for any aspiring entrepreneur to read. Having finished reading it, I wholeheartedly agree. The essence of The Fountainhead is that the prime movers of the world are those individuals who create something of their own out of love for their job or passion first and foremost.
To try to explain the book cannot do it justice. You will become deeply immersed in the characters in the story and it is well worth the journey to get to Howard Roark's testimony, which is the talk to end all talks on why the struggle to follow your dreams is worth it if you never give up on what you love.
Musashi
“People do not give up their loves and hates as long as life lasts. Waves of feeling come and go with the passage of time. […] The world is always full of the sound of waves. The little fishes, abandoning themselves to the waves, dance and sing and play, but who know the heart of the sea, a hundred feet down? Who knows its depth?"
Musashi is an incredible book. If you’ve never read it, you need to put it on your list right now. It’s based on the life of the samurai Miyamoto Musashi who has his own non-fiction work in the Book of Five Rings, which this book is loosely based upon.
On episode 50 of the Jocko Podcast, Jocko Willink said that eventually he’d be covering Musashi in an episode and wanted to give everyone enough time to dig through the monstrous book before the spoilers from that episode came. It was set to coincide with episode 100 of the Jocko Podcast.
I prepared myself well in advance by reading Musashi in the spring and was blown away by the book.
It follows Musashi through the challenges that made him into the legendary samurai as well as great complexity with the interwoven stories of the other characters he crosses paths with. It’s a really engaging way to get a glimpse into some of the history of Japan as well as the samurai.
Siddhartha
“Everyone can perform magic, everyone can reach his goals, if he is able to think, if he is able to wait, if he is able to fast.”
Siddhartha is the story of a man's spiritual journey during the time that the Gautama Buddha lived.
Siddhartha grew up idolizing the aesthetics and joined the quest to discover Nirvana. The downfall in this for him was the disdain he felt for the "childlike" people who sought materialism and carnal pleasures.
To better understand this other type of life, Siddhartha leaves his simple life to learn from people following different paths through life in the city. He faces the trials and tribulations that his life had been sheltered from ever experiencing before and ultimately realizes that he had to go through it all to be able to truly let go of it and not look down on people not following his path with condescension.
The lesson of Siddhartha is that every person has their own path to follow and that you should be present to the moment and your surroundings and experiences.