There are many forms of communication; none are as vital as the written word. It is the edited word which conveys more information than any other media. Sure, video is superior when showing majestic vistas, but words, when edited well, are the most powerful learning tool we have. There is a reason the written word has survived so long even with radio, television and YouTube desperate to overturn the monarchy.
Wealthy people the world over credit their success to reading. From Warren Buffett to Bill Gates to Elon Musk to Richard Branson to your favorite accountant, good books are part of the history of the people currently in the winner’s circle. Educated people possess the tools to create the future the rest of us are forced to live in. Most failures can be traced back to a lack of understanding or misunderstanding.
For these reasons I’ve been a dedicated reader since my late high school years. Before that I couldn’t get myself to read a book the the end and it showed. I struggled with direction in life until the magical day I picked up a book from the school library on weather. It was a mere 128 pages and there were a few drawings of clouds and cloud formations, but when I finished that book something clicked and I never looked back.
Before long I was consuming (and digesting) 1000 page books and begging for more. My interest in personal finance was unleashed! I was reading The Wall Street Journal (every section) from beginning to end daily. Business magazines and books were an addiction. (Science fiction novels were also an addiction I never shook if we can be brutally honest here.)
Learning became a part of my daily life, as important as eating and sleeping. I cannot remember a day when I didn’t read at least a few pages of a book. It has been a long time.
From the humble pages of that 128 page book on weather I built a library with well over 2,000 volumes. It might be at 3,000 by now, but I don’t have time to count; I’m too busy reading.
A few months ago I started a Facebook marketing program for this blog. (I fell in love with writing shortly after I discovered the high finishing a book creates which eventually led to this blog.) As the program started a facilitator asked the group for an interesting fact. I said “I read more hours per day than I sleep.” She was shocked! I told her the truth. “I read a lot — several hours per day — and sleep seems to elude me too often for good health.”
Each year I add 50 or so books to my library. This is down from my younger days when I’d add 150 or so novels to the ranks annually, plus a dozen or so meaningful books. Then I visited the library. When I reflect I sometimes feel like Charlie Munger, (Warren Buffett’s right hand man) a book with hands and legs sticking out from it. It is a rare event for me to go somewhere without a book at hand.
If you love books as I do you enjoy lists of good books to help you select your next literary victims. If an educated individual publishes a list of “Best” books I save the list. I’m always looking for more good material and I rely on the smartest people to give me a recommendation.
Fiction is a minor part of my reading now. There is just too much I want to learn before I go to the Great Beyond. My goal is to be the smartest guy in heaven (or biggest smartass in hell). So I read mostly non-fiction now.
Because I read so many books I have a ready mental arsenal to draw from. By sharing with you the best books I read this past year you can focus on the most important material with your limited (egads!) reading time. I hope you pick up my habit of carrying a book with you where ever you go. A few free moments is easily turned into a education if you do.
Below is my list of favorite books I read in the last twelve or so months. There are many more, but I don’t want to bog you down. I grabbed from the stack the books that most moved or educated me. Consume at your leisure. (Consumption is sometimes dirty word in our society. It is far from dirty when it comes to books, learning and knowledge.)
China’s Great Wall of Debt, by Dinny McMahon
There is a fear in the West that China is taking over the world. The China Miracle, we learn from McMahon, is more mirage than miracle. Ghost cities, complete concrete jungles with few people, really do exist in China. Take away all the extravagant (and wasteful) construction and China’s economy isn’t even close to the size of the U.S.
And then there is the debt for all the wasteful building. The tax system encourages bank lending to state enterprises and local governments. The bad debt is hidden from public view. Nobody know how bad it really is. One thing is sure: if it wasn’t that bad there would be no reason to hide the numbers.
China is still a vibrant nation with a growing economy. However, we need to put the economic miracle into perspective. China has lots of problems and time is running out to fix them. The real question is how bad will it hurt Western economies when China implodes?
And China doesn’t manufacture everything! Many products are created and produced elsewhere and shipped to China for assembly. The trade war is unnecessary and more damaging to U.S. companies than politicians are letting on.
This is my favorite business book of the year because it was so eye-opening. I knew China had massive debt and sewer oil was a real issue, but I never realized how difficult the situation in China is.
12 Rules for Life: An Antidote to Chaos, by Jordan B. Peterson
Jordan B. Peterson has been everywhere these last two years. His newest book is a set of rules for living life well. It seems so common sense at first: Tell the truth—or, at least don’t lie; Stand up straight with your shoulders back; and, Pursue what is meaningful (not what is expedient) are three of the twelve rules. But it doesn’t take long before you realize the depth of his message.
Peterson struck a cord in our world of identity politics and constant offense at every action. I’ve written on Peterson’s work before. And here. And ended up with endless grief. People either love his work or hate it. Those who hate did their best to deliver a groin shot to a certain unnamed accountant.
But many do find value from Peterson’s videos and books. 12 Rules happens to be the best selling book this year on this blog. Readers are also clamoring for a review of his earlier book (Maps of Meaning: The Architecture of Belief) since they discovered I purchased. (Note: I started reading Maps, but this one will take a while. This is serious and difficult reading. I’m 40 pages in as I write and will read several other books in between—something I rarely do. The material is just too deep to plow through without a break. You’ll get your review if I don’t suffer an aneurysm first.)
12 Rules is highly recommended. One of the best books ever written on what makes us tick.
Enlightenment Now: The Case for Reason, Science, Humanism, and Progress, by Steven Pinker
Media constantly tells us how bad things are and many times we yearn for the good ‘ol days. But the data doesn’t bear that out. Things are better now than ever and improving at a rapid pace!
I’ve always been an optimist. There has always been a grand appreciation in me for the awesome time we live in. But even an optimist adjusts to our modern opulent lifestyle and begins to wonder.
Pinker not only makes the case, but backs it up with data. This approach appeals to my analytical accountant mind. Here are a few things I found fascinating: We are living longer by a lot, are healthier, eat better, have more wealth, are less unequal (yes, inequality isn’t as bad as we pretend!), enjoy a cleaner environment in most Western nations than a few decades ago, enjoy more peace (no world wars recently), are safer, have more rights, are smarter and have access to more knowledge, and enjoy a quality of life never before experienced by the species.
It is socially acceptable to whine about how bad we have it. Yet the facts are clear. We are in the best of times and the time are getting better! Reading Pinker allowed me to internalize the worldview that the sky isn’t falling and the world isn’t coming to an end.
There is also a good reason for optimism. Warren Buffett is also an optimist. When the world is ending (the stock market is down double digit percentage points) Buffett knows it’s fake news and buys more great businesses at discount prices. If you can discard the negative attitude for a moment and focus on how good the world has become—as outlined by Pinker’s work—you to can make profitable decisions when the Chicken Little’s of the world are screaming like chickens with their heads cut off.
Sapiens: A Brief History of Humankind, by Yuval Noah Harari
Sapiens really surprised me. I’ve read dry mega-histories of the human race and expected the same here. Regardless, I enjoy ancient human history so I pried open my wallet and am glad I did.
Harari compiled an incredibly vibrant and alive story of human history all the way back to the beginning. A good history story allows us to see ourselves in a cleaner and clearer light. This work does just that.
Who we are and where we come from is lost in the fog of a “time from long ago.” In keeping with the theme of this blog, Harari did an excellent job explaining where and when money was created and first used. It was enlightening to see the backstory to our current financial system. It cleared up many questions I had.
We all want to know where we came from. That is why DNA tests are so popular as tools to determine our true ethnic background. Bringing the details into perspective allows us to live a better life, filled with the knowledge we have an important place in the grand scheme of things.
Once you finish reading Sapiens I’m sure you’ll be on the horn with Amazon ordering Harari’s latest classics: Homo Deus: A Brief History of Tomorrow and 21 Lessons for the 21st Century. These two are on my shelf waiting for digestion. How I’m going to keep these off next year’s “Best Books” list is beyond me.
Have things ever been worse when it comes to inequality? Well, actually, yes! It has also been better, too.
Inequality is the buzzword of the year. Media is filled with demands of gender and race equality. We demand equal pay and equal rights. Some go as far as wanting equality of outcome! (I have no idea how to accomplish that. We tried communism in many societies in the 20th Century with less than desirable results.)
Equality is a worthy goal regardless what happened in the past. There is a sense of unfairness when the rich get richer while the poor keep getting poorer. (Refer to Steven Pinker’s book above for a clearer perspective.) There is something noble about helping people with less get more for their efforts. Poor people can be just as hard working (if not harder working) than the wealthy. So inequality is a necessary study.
Scheidel gives us a broad view of equality in the past up to modern times. No spoiler alerts from me. You have to read the book! But let me say this: There are four ways to lower inequality (as history has taught), but you might not like the answer. Worse, equality doesn’t mean the poor become wealthier; usually it’s the other way around. This is an eye-opening book you want to read.
As mentioned above, I read about 50 books a year; a few more if they are short. The list of all I read is more than most can get their arms around. The five books above are page turners worthy of investment. You might want to chisel time out of your schedule for these honorable mentions as they are equally as good as those above. (You should see the good stuff I left off the list. It makes my eyes bleed.)
Energy and Civilization: A History, by Vaclav Smil is the best book I’ve ever read on energy production and consumption by humankind. The facts and figures are addicting. From prehistory to modern times, energy sources and uses are illustrated in an easy to understand format.
Inheritors of the Earth: How Nature is Thriving in an Age of Extinction, by Chris D. Thomas and The Ends of the World: Volcanic Apocalypses, Lethal Oceans, and Our Quest to Understand Earth’s Past Mass Extinctions, by Peter Brannen are two excellent books covering the worries of environmental doom popular on social media and news outlets. Things are not as bad as they seem and there is actually some good news! And history tells a story of renewal, rejuvenation and healing from the planet’s past.
Business Adventures: Twelve Classic Tales from the World of Wall Street, by John Brooks, was promoted on the CNBC website. After Bill Gates gave a nod I made the purchase. As expected, these are twelve really engaging (and informative and instructive) stories of Wall Street behind the scenes. If you like money then Business Adventures will read better than a Stephen King novel.
Hoover: An Extraordinary Life in Extraordinary Times, by Kenneth Whyte. I always thought of President Hoover as the guy who brought us the 1929 stock market crash and The Great Depression. The truth is far from it. Many of FDR’s policies came from Hoover and were not instituted over politics and misunderstanding of economic theory until Hoover was out of office.
I now have a healthy respect Herbert Hoover and his life of public service. Our 31st President was an incredible man of many accomplishments. This biography so moved me I have plans of visiting his Presidential Library in Iowa soon. If only I could find the drive to work as hard and productively as he did.
Finally, we end with a novel: Seveneves, by Neal Stephenson. My shelf is filled with westerns, romance novels, mystery novels and every other genre known to man. What stands out is the shear volume of science fiction I once read. Old habits die hard so I’m back at a familiar trough.
Seveneves is the best kind of science fiction: engaging, entertaining, filled with suspense and mystery, and just enough science fact to make it all work suspending disbelief. This novel start with the moon blowing apart and gets more exciting from there. Two-thirds of the way through the the human race is all but extinct; the attempt to save the world from a lunar catastrophe is nearing an end and seven women (the seven Eves of the future human race) are all that remains of the species. I’ll let you enjoy the story on your own. My guess is you’ll end up staying up too late at night, unable to put this book down, as I did. But trust me, it is all worth it.
These are my favorite books of the past year. I encourage you to read the ones that interest you. Please share books you were moved by this past year. You see, I need more good books to read, too.
More Wealth Building Resources
Credit Cards can be a powerful money management tool when used correctly. Use this link to find a listing of the best credit card offers. You can expand your search to maximize cash and travel rewards.
Personal Capital is an incredible tool to manage all your investments in one place. You can watch your net worth grow as you reach toward financial independence and beyond. Did I mention Personal Capital is free?
Side Hustle Selling tradelines yields a high return compared to time invested, as much as $1,000 per hour. The tradeline company I use is Tradeline Supply Company. Let Darren know you are from The Wealthy Accountant. Call 888-844-8910, email Darren@TradelineSupply.com or read my review.
Medi-Share is a low cost way to manage health care costs. As health insurance premiums continue to sky rocket, there is an alternative preserving the wealth of families all over America. Here is my review of Medi-Share and additional resources to bring health care under control in your household.
PeerSteet is an alternative way to invest in the real estate market without the hassle of management. Investing in mortgages has never been easier. 7-12% historical APRs. Here is my review of PeerStreet.
QuickBooks is a daily part of life in my office. Managing a business requires accurate books without wasting time. QuickBooks is an excellent tool for managing your business, rental properties, side hustle and personal finances.
A cost segregation study can reduce taxes $100,000 for income property owners. Here is my review of how cost segregations studies work and how to get one yourself.
Amazon is a good way to control costs by comparison shopping. The cost of a product includes travel to the store. When you start a shopping trip to Amazon here it also supports this blog. Thank you very much!
We had another drawing this week for two $50 Amazon cards. We have one winner and one in anticipation.
Chuck R of Lincoln NE claimed his $50 Amazon card. Congratulations Chuck and thanks for subscribing. It’s great to have you here.
The second winner hasn’t contacted me yet so if you’re a subscriber be sure to check your email. My legal people tell me I need to wait 30 days before tossing the money back into the ring. If the prize goes unclaimed I’ll add it to another drawing. Check the Where Am I page for details.
Camp Accountant Update
I spoke with Pete (Mr. Money Mustache) earlier and he likes the idea of hosting a Camp Accountant at MMM headquarters in Longmont, CO. A date hasn’t been set and many details need to be worked out.
The biggest issue surrounding Camp Accountant is time. I’m enjoying the best tax season in years. The office is running smooth. Virtually all tax returns are out in a week or less. If your return has been in my office longer than a week we either are waiting for more documents or I’m researching an issue to maximize tax benefits. Even still, the pain of burnout lingers.
Longer hours and hyper-productivity take a toll. The tax law changes this past year are so significant I will spend most of my time this summer with clients and blog readers hammering out the best approach to realizing the maximum benefits from the changes.
With limited personal time available I am unable to run the whole Camp Accountant show myself. I am committed to attending (it was Pete’s first question) and presenting several topics. I will also attempt to get IRS approval for CPE for enrolled agents and CPAs.
All this said, Camp Accountant is on hold unless someone, or someones, volunteer to facilitate. I can provide guidance, advice and encouragement, but I can’t run the whole show myself. (I might be energetic, but I’m not crazy. (Don’t comment!))
If you or someone you know is interested in facilitating a Camp Accountant in Longmont, let me know. You’ll get to meet Pete (always a great experience) and work with me (not always as great as meeting Pete). Ideally the person/s helping organize the event should live near Longmont. Duties would involve planning the event, setup, helping determine the fee to each attendee and handling registration.
Now on to our weekend entertainment.
What I’m Reading
What I’m reading isn’t always what I’ve read. There is a difference. I’m nearly finished with How Democracies Die by Steven Levitsky and Daniel Ziblatt. Reading time is at a premium during tax season. That said, by the time you read this I’ll have finished the book.
How Democracies Die examines democracies in the recent past that have failed and asks if it can happen to the U.S. The comparisons are concerning. Politically polarized people with a closed mind will hate the information. Intelligent people will see reason for concern and ample reason for hope and how we as individuals can make a difference.
This isn’t a long book. Outside tax season I’d finish it in a day or two. It’s addictive reading. Part of my slow reading pace on this book is the amount of highlighting and note-taking. I may write a full post discussing How Democracies Die when time permits. There is so much powerful information between the covers you will find yourself reading this book and referring back to it often. I know this for a fact because I’m doing it before I’ve even finished the first reading. Yes, I said first reading.
What I’m Watching
Okay, I admit it. I watch some strange YouTube videos. But also admit you find them interesting too.
Our first selection caught my eyes in the feed: 13 Unusual Facts about Females that are Totally True.
Did you know there is an illegal number, as in a number illegal to possess? Me neither! Watch TWL#7: This Number is Illegal and join me on a criminal adventure. Don’t worry. You’ll look good in orange.
By now you’ve realized I have a science fetish. I share a wide selection on this blog, but my history on YouTube is cluttered with math and science videos. I can’t get enough. To that end I share with you Bose-Einstein Condensate: The Coldest Place in the Universe. It just makes me want to start the experiment.
What I’m Listening To
Remember the movie Heavy Metal? It’s been a long time. I didn’t care for the movie, but loved the music. Here is the theme song, Takin’ a Ride.
One Tin Soldier is a powerful song reminding us greed will destroy the most important part of life: peace on Earth.
And to finish this week’s selection I share a reminder from Three Dog Night: Black & White.
May you have peace and love, kind readers. See you Monday where I’ll share my insights into the tariff issues and how it’ll affect wealth, the economy and the stock market.
If anything is certain it’s that people like stalking. Take your favorite accountant, for example. Considering the frequency of certain questions, people want more details of how I live my life.
My appetite for reading is insatiable and readers are thankful for the periodic nuggets I drop on my reading habits. But readers also know I read widely. They want to know what I’m reading right now, this second so they can get a feel for all the crazy stuff I read as well.
With these requests in mind, I will start publishing a short “Stalking the Accountant” post each Saturday. I will share some of the things I’m doing in my personal life.
It’ll be rare if I don’t mention a book I just finished or am working on. Television is a wasteland, so don’t expect a mention of some popular program or sporting event. I have Netflix. I have to confess I haven’t been watching that much either lately. (It’s been a few months since I watched Netflix.)
I do enjoy YouTube, however. Documentaries are always an attraction, while humor is a fine pastime as well. Then comes music. Yes, I listen to some really strange sounds. Tax season is the worst. I use certain music as a way of closing the door and getting work done.
The “stalking” posts will always be short. I’ll use links so you can follow what I’m up to. I’ll share blog posts that moved me and periodically regurgitate a random thought onto the digital page. I hope you didn’t expect me to be the World’s Most Exciting Man.
But I might be somewhat interesting. Or at least mildly stimulating.
What I’m Reading
My curiosity surrounding energy and how it fuels human development is legend. I just started this book and I’m already hooked. Smil outlines how humanity has been shaped by how we employed energy throughout history. This book isn’t just a modern rendition of human energy consumption either. Early energy use included simple things like harnessing animal power and later wind and water and fossil fuels. From what I’ve read so far: highly recommended.
What I’m Watching
Last night I watched an interesting video of an interview of Nobel prize-winning economist, Paul Krugman, as he discussed tax reform.
Music I’m Listening To
I warned you. That said, it’s good music to work to.
Who I’m Stalking
In the past week or so I started following @richardbranson on Twitter. It has exploded into a full-blown bromance.
I’ve been familiar with Branson for ages. His accomplishments in the business world are extraordinary. Twitter thought we should hookup so I did. Branson tweets fairly often things about his life. I was most moved by his dedication to family. It created a new-found respect for the man. I was so impressed I purchased three of his books:
Crazy Thing I’m Doing
It’s -9 degrees F this morning and I’m enjoying a crisp walk around the back of the farm. The sound of snow crunching below my boot when the temperatures drops below 10 degrees F is addicting. To me. Care to come?
Before anyone complains about the time I publish on Saturday, know I have no set schedule for the weekend. In short, I’ll get to it when I get to it. During the depths of tax season I may even miss a week, but unlikely, as I like to tell people what deviant behavior I’m up to.
And last, a short discussion on buying books. This community is frugal; I get it. A common question, however, is: Frugal people tend to have one thing they splurge on to keep balance in their financial life. What’s yours?
Books. I buy and read lots of books.
I also raid the library on a regular basis. But I love my personal library; frugality be damned.
My attitude toward traveling is less than exuberant. Still, I’ve traveled the world more than nearly anyone alive. I’ve also traveled through space and time, visited alien worlds and met the greatest actors the human race ever created.
I did all that reading a book.
Remember awhile back when I said I was taking November off? It’s not going well.
My first day back from a conference and people were lined up for my attention. And, of course, everything’s a crisis. Do people think I’m a machine without a need for rest?
My intentions were never to completely bow out of life. I’m not the kind of person who takes a month and does nothing or travels or other such leisure. Curiosity was breed in me and I can’t help myself. I’m like the mischievous kid who is always in trouble. Curiosity killed the cat and unfortunately I’m limited to one life. (Who wants to live forever anyway?)
The list is growing, too. An old friend from the blogger community asked me to Skype and I missed the Monday tentative appointment. I need to rectify that. (Please, God, let Skype work for me this time.)
The most important issue is hiring more qualified help for the office. Over the last week I hired one new full-time employee and think another candidate will work out in the tax preparation arena. It’s hard finding good people who want to work. I changed tactics in my hiring process and finally saw some positive results. I might even open the gate enough to allow a few new clients in. We’ll see.
Hiring takes time and I should finish the process in the next week. A few projects needing my attention in the office are front and center, plus required continuing education is slated for the 29th and 30th of this month in Green Bay.
Don’t Cry for Me, Argentina*
Before you shed a tear for my misfortune, understand hiring additional team members will free more of my future time. By training a bunch of mini-mes should produce benefits in short order. Some of the process can be handled by team members while I focus on reviewing final product.
I see you’re still chocked up. Don’t be! Conferences are hard on me as I try to give every ounce of energy I have. (Actually, I overdo it.) The recovery time takes longer as I age and this time is no different. I’ve slept more those first few days of recovery than I have in a very long time.
My days are normally short by normal working standards. I visit the gym Monday, Wednesday and Friday each week for a workout and the steam room. Gym days mean I spend about five hours at the office.
Non-gym days I get to the office about 9 and frequently leave by 3 or 4. Tax season is a bit more, of course. (Okay, a lot more.)
Then comes the reading and writing. As you know I write here three days a week, too. I cut back other writing due to the pace I keep here and the constant office workload nonexistent in the past. There was a time summer and autumn were light work schedules. What the heck happened?
Frequently people accuse me of prolific writing. Though it is true I love writing and the writing process, my favorite love (outside Mrs. Accountant) is reading. My taste in literature is catholic (notice the little c). I’ve yet to find a topic I wasn’t interested in for at least a short period of time. Believe it or not, twenty or so years ago I read a romance novel by Danielle Steel (this is the novel that did me in (damn books in the checkout line)) and was blown away. It took 80, maybe 90 novels to burn that one out of my system. (Can you see your favorite accountant on the beach reading To Love Again? Yes, I read that book. It was the second novel of my illness years.)
Novels were a large part of my reading material back then. As the years went by novels lost their grip on me. I still read fiction, just not at the same levels. The books I read now can get, well, shall we say, bulky.
Novels can teach as well as entertain. Tom Wolfe wrote A Man in Full. The story has a strong Stoic message which is why I read it from the library.
Most of what I read now is nonfiction. Once again, my tastes run catholic. As you might imagine, I read plenty on finance, economics and business. If my nose isn’t glued inside a book I’m reading similar material and news online.
Currently I still have a fetish for environmental books, especially relating to human history, climate change and how societies collapse.
Old books hold a special interest for me. An Outline of History by H.G. Wells is on my to-do list. It’s a thousand pages of deep reading from a century ago, but still good stuff. I found a copy in very good condition on Amazon for $22.99.
My primary goal when reading is satiation of my curiosity. Learning is important, but I don’t think of it that way. For me learning is entertainment. If my body were not riddled with restless anxiety I would read non-stop every moment I’m awake.
Writing helps you focus a thought as you express it in clear terms. Reading allows you to digest condensed information more quickly than from any other media. Successful people read.
November is my month off and while business has consumed much of this time, I still manage an excess of hours for additional reading. In short, November has turned into a reading vacation. The best part is I will probably extend the vacation into mid-December to make up for my inappropriate behavior working during a vacation. My schedule to the end of the year will be light to make room for the many books I want to pour into my skull.
Reading makes you a better writer. Writing is the most important form of communication. Documentaries and seminars all teach. But reading is faster and incorporates into your mind better than all other forms of learning. Even teachers speaking in front of a room want you to read the material, preferably before class.
My road has never been easy or straight. Reading has given me the edge over the years to win against long odds. No one has an excuse to fail! No one! In the past I would tell clients I’d make an exception for people in prison and quadriplegics. However, need I remind you of Nelson Mandela, Christopher Reeves and Stephen Hawking? Like I said, no excuse.
The common thread among winners is their thirst for knowledge and hunger for learning. People will beat you down because they are jealous while basking in the rewards of your production. Steve Jobs was both loved and hated, but no one disputes his tremendous contribution to society. Even if you don’t use Apple products, you still benefit from the children born of Jobs’s mind.
And what about your mental children? Will they ever see the light of day? Have you even given yourself permission to dream such dreams? People will take every chance to cut you down. Get used to it. It is possible to do everything right and still lose. That is not a character flaw; it is life.
The best mentors I ever had are dead. Plato, Seneca, Will Durant and H.G. Wells have taught me how to live a joyful life. On my shelf is the Autobiography of Andrew Carnegie, perhaps the richest man to have ever lived, adjusting for inflation.
My favorite books are about successful people. Benjamin Franklin, Steve Jobs, and many Presidents of the United States have filled my time over the years. When I start to feel down or treated unfairly I read about people who rose above the turmoil. They provide lessons through the mists of time reminding me I’m not alone; it’s all happened before. Need I remind you Isaac Newton lived in turbulent times and wasn’t universally loved? He was known to carry a grudge to the grave. Regardless, everyone of these great minds have something to teach me in good times and bad.
How I Read
Most novel I read come from the library these days. I still buy five or so novels a year if I think they will make good reference material for future writing projects. I borrow another ten or so nonfiction titles from the library annually. However, the bulk of my reading is material I own.
Books are important to me. Tim Ferris says you should just buy the book. Ramit Sethi says if he sees a book and thinks there is only a slight chance he will benefit he buys the book. According to Sethi, twenty dollars is incredibly cheap for even one idea. I agree.
One of my favorite authors, Ryan Holiday, sends a monthly email with books he recommends. At the end of each email he encourages people to buy the book. Holiday says he will find a way to own a book he wants even if it means skipping a meal. Once again, I agree. (Holiday is thin, unlike a certain accountant we will not mention. This is living proof he walks the talk. )
I know, I know. It’s self serving for me to ask you to buy the book even when it is to your advantage. Libraries are important and borrowing books from the library is a good idea. Owning books is equally important. There is a certain satisfaction with owning a book and holding it in your hand.
Every book listed in this post I’ve read with the exception of those I mentioned I own and plan on reading over the next four to six weeks. The links to Amazon are affiliate links. I do get paid if you buy the book using the affiliate link. The new commission schedule Amazon brought out a few months ago assures I will not get rich off your purchase. Physical books pay a 4.5% commission and ebooks pay 4%.
You can always go to Amazon outside the links of this blog if you are opposed to commissions on religious grounds. Or, better yet, I’ll buy you a beer the next time our paths cross.
Trust me, the beer will cost more than the commission I earned.
You keep all the knowledge.
* Remember, I hide messages and references within posts.
Three books I read since the beginning of the year stand out as books readers of The Wealthy Accountant should find interesting and useful. Two books I recommend for purchase, the other can be borrowed from the library; I’ll indicate my recommendation as I introduce each book. The dividing line between borrowing from the library and purchase is the desire to mark the book with a highlighter as you read. Highlighted books are easy to use as future reference. All books I recommend in this blog are books I highlight and own.
A strong theme on The Wealthy Accountant is frugality. So why do I recommend the purchase of so many book? First, I have a weakness when it comes to books. I buy a third to half of all books I read. The percentage changes with time. Many times I start reading a library book and instantly know I want to mark the important passages for future research and use. Your need for research material may not be as high as mine if you don’t own a business or publish a blog.
Second, if a book is important I will find a way to own it. Knowledge is power; knowledge is freedom. My mind is my most precious asset. I feed my mind every day and reference back to previously read books often. A well-read person is almost always wealthier in financial terms, but is always wealthier in quality of life. I have never met a successful person who is not well-read.
Cutting costs is easy. Unnecessary spending is tossed out the window. But books are as vital as food. Some books, especially novels, are a one-time read so the library is a perfect way to consume these books without any financial outlay. Some nonfiction books fall in the same category. Then there are books which touch us deeply. A few works of fiction rise to this level. Flowers for Algernon comes to mind. Many nonfiction books are significant enough to own. If you are like me, you will find yourself returning to these treasures often.
On to our list of must read books to finish off the winter.
Now is the time to start a tradition of sharing the best books I read over the past year. The first full year of The Wealthy Accountant is fast approaching. Each December as the year draws to a close I will list my three favorite books I read during the year. Many books I pick up from the library, but the best books really belong in your personal library to read and reread. If you are like me you keep books close at hand for research. There is still time to order from Amazon and have these books in your hand to fill in the quiet time during the holidays.
Some books I consider the best were already reported earlier. Of the three books recommended, there will be additional books mentioned that compliment the recommended book. Time is precious. Books are a must if you want to succeed and reach your goals. A good life starts with learning and books are the only way. Neither the internet nor formal training can do what books can. Sure, the internet, college, and formalized training are part of the learning process, a part you also need to seek out.
I read 30-50 books every year, depending on the size of the books. Reading is part of every day. Your schedule is just as tight as mine is. You still make time to eat, drink, breathe, and sleep. Time for books is as important as food. Food for the mind is vital. The short list allows you an opportunity to read the most books that convey a powerful message without reading as much as I do.