The Road to Wealth by Suze Orman: 9781594484582 | PenguinRandomHouse.com: Books (2024)

FAQs

Is The Simple Path to Wealth worth reading? ›

Great Read!!! Filled with introductory wisdom on investing and finances. Some technical jargon but definitely basic for any reader to digest and enjoy. The language of the writer also makes it very accommodating and easy to understand for the most pedestrian of people, like me.

Suze Orman is the author of the #1 bestsellers The 9 Steps to Financial Freedom and The Courage to Be Rich. Her two PBS specials based on these books are among the network's most successful fund-raisers ever.

Some of the highest-rated millionaire books include "The Simple Path to Wealth" by J.L. Collins, "The Millionaire Fastlane" by M.J. DeMarco and "The Bogleheads' Guide to Investing" by Taylor Larimore, Michael LeBoeuf and Mel Lindauer.

Live Below Your Means

“I don't care how much money you make or have,” she said. “Every single person should live below their means but within their needs. [For example], just because you can afford a new car doesn't mean that you should get a new car.”

Rule No. 1 – Never lose money

The Oracle of Omaha's advice stresses the importance of avoiding loss in your portfolio. When you have more money in your portfolio, you can make more money on it. So, a loss hurts your future earning power.

These specific documents are a will, a living revocable trust, a durable power of attorney for healthcare and an advance directive. Here is an overview of what each of these documents does and why Orman feels they are essential for everyone to have.

To Kill a Mockingbird. “I grew up in a small, insular, white, Protestant town in the West, and this book first exposed me to the cruelty of racism. I do believe it changed my life and made me a person who cares about social justice.

This is according to a study conducted by Ramsey Solutions, which is the largest study of millionaires to date. The average age of a millionaire is 49 years old, which means it takes them over 27 years of saving and investing to reach this status. This may seem daunting, but the truth is, it's never too late to start.

What are the 7 stages of wealth? ›

Orman states that SPIAs can therefore take the place of CDs or treasury notes to help provide income in retirement. Many people think that Suze Orman "hates annuities," but she concedes there are circ*mstances where they do make sense.

When looking at how to save for retirement, Orman says a Roth is the way to go. “A Roth account is hands down the best choice for young adults. With a Roth you contribute dollars that have already been taxed, and then in retirement you get to withdraw the money without paying a penny in tax.”

Before we dive into the details, let's first understand the concept of the golden rule of saving money. Simply put, it states that you should always save a portion of your income before spending it.

Rich Dad Poor Dad is a good book for beginners. It introduces a lot of concepts, views and rules that most people have never encountered before. And packages this into a story which makes it easy to understand.

In The Simple Path to Wealth, blogger and financial expert JL Collins offers a simple road map to achieving financial independence and a secure retirement: Spend less than you make, avoid debt, save “F-You Money,” and invest in stock index funds.

Think and Grow Rich has been called the "granddaddy of all motivational literature." It was the first book to boldly ask, "what makes a winner?" The man who asked and listened for the answer, Napoleon Hill, is now counted in the top ranks of the world's winners himself.