One of the main wealthy habits is continuous education and self-development. Regular reading boosts your intelligence and is a great practice that helps develop your mind and personal value. It’s also a good way to stay informed and up-to-date with your field and interests, which benefits your decision-making skills in instances such as making worthwhile investments and setting useful and attainable financial goals. You can also try audiobooks, which you may find more engaging, and you can listen to them whilst doing other activities like exercising or commuting.
In no particular order, we’ve put together our top recommendations below for books on personal finance and wealth-building that are full of genuinely useful advice and case studies that you can implement in your life on how to become successful and maintain wealth.
1.The Richest Man in Babylon by George S. Clason
“I found the road to wealth when I decided that a part of what I earned was mine to keep.”
This inspirational classic by George S. Clason is one of the most well-known financial books on wealth management.
The Richest Man in Babylon is an anthology of tales that follow the fictional character, Arkad, on his journey to financial freedom. Despite being set in the 1920s in ancient Babylon, this timeless read promotes the primary principles of wealth-building: paying yourself first, living within your means, investing in what you know, the importance of long-term saving, and asset accumulation that can still be applied today.
2. Rich Dad, Poor Dad by Roberty T. Kiyosaki
“The key to financial freedom and great wealth is a person’s ability or skill to convert earned income into passive income.”
Written by Robert T. Kiyosaki and Sharon L. Lechter, Rich Dad, Poor Dad is based on Kiyosaki’s life, illustrating his friend’s father as the “rich dad”, an entrepreneur who grew his wealth via meaningful investments, and Kiyosaki’s “poor dad”, a hard worker that struggled to make ends meet.
This book teaches the importance of financial literacy and freedom, as well as wealth-building through real estate investing, owning a profitable business, and continuously developing your financial intelligence.
3. Your Money or Your Life by Vicki Robin
“More is better’ turns out to be a formula for dissatisfaction. If you live for having it all, what you have is never enough.”
Vicki Robin’s guide to achieving financial independence focuses on the idea that less is more. She discusses matters like materialism and unattainable happiness through physical things, and how to structure your life financially through the right values. Through a philosophical lens, Robin teaches us how to get the most out of our limited time on this planet not through merely getting more money and buying more things, but through finding genuine fulfilment by reducing our expenses, increasing our income, investing, and retiring early.
4. Secrets of the Millionaire Mind by T. Harv Eker
“Keep your eye on the goal, keep moving toward your target.”
T. Harv Eker explains wealth as a mindset; think rich to be rich. He describes the ways in which wealthy people think and act that differentiate them from lower social classes. Throughout the book, Eker also gives tips on certain practices and habits that you can implement in your own life to develop a wealthy mindset and, ultimately, grow your income. These practices include goal-setting and staying on track, developing your financial IQ, and philanthropy.
5. The Psychology of Money by Morgan Housel
“Spending money to show people how much money you have is the fastest way to have less money.”
Morgan Housel discusses the psychological nature of wealth, greed, and happiness, stating that wealth is a behaviour. This book focuses on one of the key pillars of wealth-building: avoiding unnecessary luxuries. It goes into more detail on topics such as how to stay wealthy rather than simply becoming wealthy, recognising when you have enough, and how to control your time and money to achieve freedom.
6. The Simple Path to Wealth by J. L. Collins
“You own the things you own and they in turn own you.”
Similar to the other books on this list, The Simple Path to Wealth echoes how merely owning physical things does not create wealth. Instead, we should be humble with money and develop emotional intelligence to support our investment-making decisions. In other words, there is no skill in making money in a rising market; thriving in a collapsing one is what builds wealth.
7. Unshakeable by Tony Robbins
“I can tell you the secret to happiness in one word: progress.”
Unshakeable is a practical guide for investors with useful tips to protect your investments and enhance wealth. Robbins uses his own consistent success in navigating turbulent stocks to bring investors genuine, simple, and valuable advice on wealth preservation.
Available as an audiobook on Audible.
8. The Intelligent Investor by Benjamin Graham
“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
Often referred to as the stock market bible, The Intelligent Investor inspires others with the philosophy of value investing, which focuses on developing long-term strategies. This revised edition contains notes from financial journalist Jason Zweig, who draws on Graham’s original perspective and applies it to today’s market to give readers a more thorough understanding of how to apply Graham’s principles to their own investment plans.
9. The Millionaire Next Door by Thomas J. Stanley and William D. Danko
“If you are the best in your field, money will find you.”
What does a millionaire look like? You spot a wealthy person by their looks, but rather by their actions. This best-seller highlights the traits of the wealthy and how these particular behaviours and values can mould you into a wealthy person. So, rather than considering material items like a lavish car or an expensive, over-sized house, Stanley and Danko look at the more meaningful details such as: what do wealthy people do? Where do they shop? How do they invest?
10. Think and Grow Rich by Napoleon Hill
“The starting point of all achievement is DESIRE. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.”
We end our list of recommended books on the importance of positive thinking. Initially published in 1937 after the Great Depression, this is Hill’s remedy to difficult times. His guide to building wealth is a philosophic view of the ways in which your mindset can influence and become your reality, and so he presents a series of steps and advice on how to transform your thoughts into wealth through tactics like visualisation, affirmation, planning, and goal-setting.
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If you’re looking for a quick read, the Propiteer Capital blog is a great way to catch up with finance news on your commute. You’ll find articles on a range of topics including bonds, personal finance, and property investing, with industry updates and top tips on how to develop your financial intelligence, navigate the real estate market, and goal-setting and investment planning strategies. If you’re a Propiteer Capital investor, you will also receive monthly updates from us in your inbox, which feature company news and project updates, and our latest blogs.
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