Lessons to Learn from Four Featured Books on Trey Stone’s Reading List

Trey’s Reading List 

Multi-family investor Trey Stone is passionate about financial literacy. To him, financial literacy is one of the building blocks for financial success regardless of income level. Often, youth are targeted because they don’t have financial literacy education and life skills. For example, credit card stations are set up on campus giving away a free t-shirt or other prizes when you apply for a card. Young adults sign up, not fully knowing what they are getting into. Companies go after naive young adults. Credit card companies, auto-finance companies, and payday loan companies are ready to pounce on them and they could spend the rest of their lives in debt. As a result, they’ll never accumulate wealth or stop certain negative cycles in their families like poverty and food insecurity. All of this could lead to living in places with higher instances of crime, insufficient education systems, and it’s a downward spiral effect. Trey is adamant that we can do better and he mentors in this area. Part of this contribution to educating people is his reading list.

Trey also believes in continuous learning, re-focusing, and improving himself. He recommends that everyone follow that mindset. He has put together a reading list of the most influential books in his career and his life as a whole. He uses this reading list himself, often re-reading his favorites or the most transformative books on the list. This helps him refocus and re-evaluate all of the roles he plays in his life- as an investor, a husband, and a father. Trey says, “It doesn’t matter how many times you return to the material, we all need that repetition to find the ways in which we can do better and not to allow ourselves to be complacent or fall short of our goals.”

 

“What could be sadder than any emotion than regret?” -Trey Stone

 

Lesson 1:

From Rich Dad Poor Dad by Robert Kiyosaki

Non-traditional definitions for asset and liability.  If every month, something takes money out of your pocket, it’s a liability. If every month, something puts money into your pocket then it’s an asset.

 

Lesson 2:

From Richest Man in Babylon by George S. Clason

Prioritize saving a percentage of your paycheck. “Pay yourself first is the idea that a portion of everything I earn is mine to keep.” 

 

Lesson 3:

From The Millionaire Next Door by Thomas J. Stanley

To accumulate wealth, it is best to be frugal. The book teaches you that there’s nothing wrong with living on cans of tuna and ramen noodles

 

Lesson 4:

From How to Win Friends and Influence People by Dale Carnegie


If you want to develop a relationship where you don’t have as much to offer as the other person, you have to understand that some day you can be in a position where you’ve accomplished a great thing or built some wealth and expertise, and then you will be at that level where you can support each other mutually. You have to start somewhere and you just need the skills to do it.

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