It’s no secret that success leaves clues. For many self-made millionaires, one of their secrets to building wealth isn’t just their work ethic or investment strategies; it’s their reading habits. They understand that the right book can provide valuable insights, practical wisdom, and the mental frameworks needed to excel in business and life. Below are 12 books that self-made millionaires swear by. These books not only inspire but also offer time-tested strategies for building wealth.
Rich Dad Poor Dad by Robert Kiyosaki
When it comes to personal finance, few books have had the impact of Rich Dad Poor Dad. Robert Kiyosaki uses the contrasting lessons he learned from his biological father (poor dad) and his best friend’s father (rich dad) to teach readers about money management, investing, and the importance of financial literacy. According to Investopedia, this classic is a must-read for young investors. as it changes how you think about assets, liabilities, and building passive income.
Principles: Life and Work by Ray Dalio
Ray Dalio, founder of Bridgewater Associates, one of the world’s largest hedge funds, outlines the principles that have guided his success in both business and life. This book is a mix of personal anecdotes and practical advice.
Dalio’s principles are designed to help readers make better decisions, approach challenges logically, and manage both personal and professional relationships effectively.
The Intelligent Investor by Benjamin Graham
Described as the “bible of investing,” The Intelligent Investor is hailed by Warren Buffett as the best book on investing ever written. Benjamin Graham’s philosophy of “value investing” has been a foundation for many successful investors. The book teaches the importance of long-term investing, risk management, and how to stay rational in a market that can often be irrational.
Think and Grow Rich by Napoleon Hill
Napoleon Hill’s Think and Grow Rich was first published in 1937, and its core principles still resonate today. The book is based on Hill’s study of 500 successful people, including Henry Ford, Thomas Edison, and Andrew Carnegie. Hill outlines 13 principles for success, including desire, faith, and persistence. These principles, Hill argues, are key to building wealth.
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
Contrary to popular belief, millionaires aren’t always the people with flashy cars and expensive lifestyles. The Millionaire Next Door explores how average people build extraordinary wealth through frugality, careful planning, and smart investing. The book is based on a study of millionaires and their spending habits, revealing that many millionaires live below their means.