Three exceptional book recommendations for your financial success

If you want to get rich, then buying a few good stocks won't be enough. You will have to constantly develop and improve yourself to achieve this goal. Books can be extremely helpful along the way.

The following three books may not be as well known. Nevertheless, or precisely because of this, they are excellent companions on your path to financial success!

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Book tip 1: Think and get rich

Actually, the book Think and Grow Rich by Napoleon Hill is not so unknown. Since its appearance in 1937, it has been sold more than 60 million times! But I don't think it's as popular here in Germany as it is in other countries. Unjustly!

In 1908, Andrew Carnegie, one of the richest men of his time, commissioned Napoleon Hill, then 25 years old, to write a book on the formula for success. To do this, he was asked to interview and follow more than 500 self-made millionaires to get to the bottom of how their incredible wealth came to be.

Among them were personalities like Thomas Alva Edison, Henry Ford and John D. Rockefeller. And just a few hundred more! The whole thing has therefore taken more than 20 years. Eventually, all the experiences and explorations thus made resulted in the book Think and Grow Rich.

The successes of the people interviewed and the extreme time commitment behind this book should be unique! The stories contained therein show the reader exactly which common success factors unite the majority of millionaires. Napoleon Hill repeats it again and again. He really hammers it into the brains of his readers! Fantastic!

I was and am thrilled with this book! Even though I already know the content, it's still on in the car via Audible audiobook on longer trips.

As mentioned at the beginning, you won't get rich just by buying a few good shares. To do so first requires the right mindset, the right mindset. Perfect read for this: Think and Grow Rich by Napoleon Hill!

Book tip 2: Let's talk about money

Also my second book tip has not directly something to do with money investments. The book Reden wir uber Geld by Conny Bischofsberger is about the life of racing legend and airline founder Niki Lauda.

I took away two things from this book that I think are essential. For one thing, a clear, unwavering set of goals. Niki Lauda wanted to become a racing driver in Formula 1, he became a racing driver in Formula 1.

Hey, how many young men have this goal?

Probably tens of thousands. Lauda is one of the few who actually made it. Although he had no money available for this project, which is usually needed to buy a cockpit. Next Niki Lauda wanted to become world champion with Ferrari.

He also managed to do this in 1975, ending the Ferrari racing team's 11-year drought.

Even during his career as a Formula 1 driver, a second passion germinated in him, aviation. On the one hand he made the pilot's license himself. And by the way he founded his own airline. Simply because he was passionate about aviation. I consider this single-mindedness to be absolutely remarkable and extraordinary!

Or do you know someone who, just because he likes cars, started his own car production company? For Lauda, it was always just about doing what interested him. There was no compromise in his goals!

The fact that he has been successful in everything he has done is probably largely due to his unwavering, clear goals. I am deeply impressed by this, because his goals were certainly not easy to achieve.

The second lesson I learned from this book is persistence. So the will to never give up, no matter what happens. For example, a loan he needed to buy his first Formula One cockpit was denied shortly before it was paid out. His rich uncle interfered.

Has Lauda given up? No, he went to the nearest bank and was able to convince them to give him the loan!

Even his terrible accident at the Nurburgring couldn't stop him. He came back and became Formula 1 world champion again just one year later. The strokes of fate should not stop even after his Formula 1 career. The crash of one of his planes in Thailand, which killed over 200 people, hit Lauda hard.

But even this did not deter him. After it was clear that his airline could not be held responsible for the crash, he continued his work. Although Lauda Air was soon swallowed by Austrian Airlines. Didn't matter though, he just started a new airline. This time he called her Niki. However, after a few years this was integrated into Air Berlin (WKN:AB1000).

But again made no difference. After their bankruptcy he fought back his Niki.

Once again, Lauda excelled at a character trait that all successful people seem to possess: Perseverance. So, like book tip 1, the book Let's Talk About Money will help you improve your mindset.

Book tip 3: The Complete Investor

The Complete Investor by Tren Griffin is about Warren Buffett's genius partner Charlie Munger. For decades, the two have run investment holding company Berkshire Hathaway (WKN:A0YJQ2) with outstanding success: the stock has more than quadrupled in the past nearly 10 years!

The book explains in detail the investment philosophy of Buffett and Munger and contains a plethora of quotes from the two stock market legends. In a nutshell, The Complete Investor is a wonderful summary of Buffett and Munger's secrets to success!

Be careful if you don't speak English, though. At least on Audible, The Complete Investor was not available in German. Otherwise, I recommend the book especially to those of us who are not yet too familiar with the principles of value investing.

About shares and books

Stocks can generate wonderful returns in the long term. An even higher return, however, you can earn with knowledge. Knowledge that abounds in books like the three mentioned above!

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Thomas Brantl does not own any of the mentioned shares. The Motley Fool owns and recommends shares of Berkshire Hathaway (B shares).