Navigating the world of finance and entrepreneurship can often feel like traversing a labyrinth without a map. Whether you’re an aspiring entrepreneur, an individual looking to gain control over your finances, or a seasoned investor seeking to optimize your portfolio, books on how to make money can be your guiding star.
In this comprehensive article, we’ve curated an essential list of books on how to make money, offering a treasure trove of wisdom from world-renowned experts.
One recurring theme across these authors’ ideas is the significance of mindset—whether it’s adopting a long-term perspective on investments, understanding the psychology behind money, or harnessing your individual skills to create value, your mindset can be the key to unlocking financial prosperity.
38 Books On How To Make Money in 2023: Overview
Here’s a quick look at the publication categories that these 38 books on how to make money belong to and presented throughout the article;
- Personal Finance
- Psychology and Self-Improvement
- Economics and Historical Perspectives
- Business and Finance Strategy
Often considered the bible of investing, Benjamin Graham’s “The Intelligent Investor” is a comprehensive guide aimed at individuals who want to understand the basics and intricacies of the stock market.
It has been praised for its timeless wisdom and focus on long-term investment. The book makes a compelling case for value investing, which involves buying stocks at a price below their intrinsic value.
- Value Investing: Emphasizes buying stocks that are undervalued.
- Margin of Safety: Suggests that an investment should have a “margin of safety” — the difference between its intrinsic value and market price.
- Defensive vs. Enterprising Investors: Distinguishes between two investor types and offers strategies for each.
This book provides valuable insights into what makes a great investment, focusing on the long-term potential of a stock rather than quick profits. Philip Fisher introduces the idea that it’s better to buy excellent companies at fair prices rather than merely cheap stocks.
The book is especially known for its “Fifteen Points to Look for in a Common Stock.”
- Scuttlebutt Method: Encourages gathering information from various sources including competitors, employees, and customers.
- Quality Over Price: Emphasizes the importance of the quality of a company over the attractiveness of its stock price.
- Long-Term Investment: Advocates for long-term holding of valuable stocks.
Burton G. Malkiel argues that asset prices are largely unpredictable in the short term, making it futile to try to “beat the market” through timing or stock picking. The book popularized the concept of the “random walk,” which suggests that stock price changes have the same distribution and are independent of each other.
The book is supportive of index funds as a sound long-term investment strategy.
- Random Walk Theory: Explains that stock prices are inherently unpredictable in the short term.
- Efficient Market Hypothesis: Delves into the idea that all available information is already reflected in stock prices.
- Index Investing: Recommends low-cost index funds as the most reliable long-term investment.
4. One Up On Wall Street by Peter Lynch
Peter Lynch, one of the most successful fund managers, shares his investment philosophy, focusing on individual investors’ advantages over Wall Street experts. He emphasizes that non-professionals can indeed successfully pick stocks by observing their environment and using their unique insights.
The book divides investments into various “categories” and offers strategies for each.
- Know What You Own: Advises investors to invest in businesses they understand.
- Different Stock Categories: Divides stocks into categories like “stalwarts,” “cyclicals,” and “fast-growers,” and offers distinct advice for each.
- Personal Edge: Argues that individuals have unique insights based on their experiences and should use them to their advantage.
5. Security Analysis by Benjamin Graham and David Dodd
Considered the playbook for serious investors, “Security Analysis” dives deep into the art of evaluating securities like stocks and bonds. Written by Benjamin Graham and David Dodd, the book remains a must-read for anyone who wants to understand fundamental analysis.
It offers a rigorous framework for judging the value and potential of an investment.
- Fundamental Analysis: Teaches how to assess the intrinsic value of a security.
- Balance Sheet Analysis: Emphasizes the importance of understanding a company’s financial statements.
- Market vs. Intrinsic Value: Highlights the difference between the market price and the intrinsic value of a security.
6. The Simple Path to Wealth by J.L. Collins
This book is a simplified guide to achieving financial independence and building long-term wealth. J.L. Collins argues for the supremacy of low-cost index funds as the most straightforward way for everyday investors to grow their money.
The book emphasizes the need to avoid debt and to live below one’s means.
- Index Funds: Advocates for low-cost index fund investments.
- Financial Independence: Stresses the importance of saving aggressively to achieve financial freedom.
- Avoid Debt: Advises against taking on debt, calling it the most significant barrier to financial independence.
7. The Bogleheads’ Guide to Investing by Taylor Larimore
This book is a DIY guide for investors who like straightforward, low-maintenance, and long-term investment strategies. It is influenced by the philosophy of Jack Bogle, the founder of Vanguard. The book covers a range of topics including retirement planning, estate planning, and basic tax rules.
- Simplicity: Emphasizes the value of a simple, straightforward investment approach.
- Diversification: Recommends diversifying investments across different asset classes.
- Cost Matters: Stresses the importance of considering expense ratios and other fees.
8. The Little Book of Common Sense Investing by John C. Bogle
Authored by the founder of Vanguard, John C. Bogle, this book advocates for simple investing strategies that have stood the test of time. The core philosophy is to invest in low-cost index funds. The book critiques active management and other more complex and costly investment strategies.
- Low-Cost Index Funds: Advocates for low-cost, long-term index fund investing.
- Critique of Active Management: Discusses the pitfalls and costs associated with active investing.
- Long-Term Investing: Emphasizes the importance of a long-term investment horizon.
9. The Essays of Warren Buffett by Warren Buffett
This book is a curated collection of Warren Buffett’s annual letters to shareholders of Berkshire Hathaway. Through these letters, Buffett offers valuable insights into his investment philosophy and the principles behind his successful track record. The book is considered a masterclass in understanding how to think about investment, business, and the economy.
- Intrinsic Value: Stresses the importance of understanding a company’s intrinsic value.
- Economic Moats: Discusses the idea of competitive advantages or ‘moats’ that make a business great.
- Ethical Business: Highlights the importance of ethics and good corporate governance.
10. The Alchemy of Finance by George Soros
In this book, George Soros presents his theory of reflexivity and discusses how it applies to markets. He challenges the efficient market hypothesis, suggesting that markets are often driven by the irrational behavior of participants. The book also provides a window into Soros’s trading strategies, detailing his bets against currencies and markets.
- Theory of Reflexivity: Explains how market participants’ beliefs influence market fundamentals and vice versa.
- Market Inefficiencies: Suggests that markets aren’t always efficient and can be beat.
- Soros’s Trades: Provides a detailed account of some of Soros’s famous trades, like betting against the British Pound.
Books On How To Make Money – Personal Finance
Robert Kiyosaki’s “Rich Dad Poor Dad” explores the fundamental differences in the way his two “dads”—his biological father (Poor Dad) and his best friend’s father (Rich Dad)—thought about money and investing.
The book challenges conventional wisdom about money, such as the importance of earning a high income, and instead focuses on acquiring assets that generate income. The overarching lesson is that financial literacy is key to wealth-building.
- Assets Over Income: Advocates the importance of income-generating assets over a high salary.
- Financial Literacy: Emphasizes the importance of understanding money and investing.
- Different Mindsets: Contrasts the conservative, play-it-safe mentality with a more entrepreneurial, risk-embracing approach to money.
12. The Millionaire Next Door by Thomas J. Stanley and William D. Danko
Based on extensive research and surveys, “The Millionaire Next Door” reveals that many millionaires live well below their means and prioritize saving over extravagant spending. Stanley and Danko challenge societal notions about wealth, showing that millionaires are often not the flashy spenders we think they are but are frugal, disciplined savers and investors.
The book argues that anyone can amass wealth by consistently living below their means and wisely investing the difference.
- Frugality: This shows that many millionaires live frugal lifestyles and avoid conspicuous consumption.
- Discipline: Emphasizes the importance of self-discipline in saving and investing.
- Wealth Calculation: Introduces a formula to determine if you’re accumulating wealth efficiently compared to your income.
13. The Total Money Makeover by Dave Ramsey
Dave Ramsey’s “The Total Money Makeover” offers a structured plan for financial recovery and long-term stability. Known for his no-nonsense approach, Ramsey proposes a series of “baby steps,” ranging from establishing an emergency fund to paying off debt and finally achieving financial independence.
The book dismisses get-rich-quick schemes and focuses on foundational financial principles.
- Baby Steps: Offers a step-by-step approach to financial recovery and wealth-building.
- Debt Snowball: Advocates for paying off debt through a ‘snowball’ approach—eliminating small debts first to gain momentum.
- Emergency Fund: Stresses the importance of having a fund for emergencies to avoid debt.
14. Your Money or Your Life by Vicki Robin and Joe Dominguez
“Your Money or Your Life” is a comprehensive program for transforming your relationship with money and achieving financial independence. The book encourages readers to consider the concept of “life energy” and to weigh their expenditures against the time and energy spent to earn that money.
It offers a nine-step program that covers topics ranging from debt repayment to finding your life’s purpose.
- Life Energy: Introduces the concept of evaluating expenses in terms of time and energy.
- Nine-Step Program: Provides a comprehensive approach to financial independence.
- Mindfulness: Encourages a mindful approach to spending and saving.
15. The Automatic Millionaire by David Bach
David Bach’s “The Automatic Millionaire” focuses on the concept of automating your financial life to build wealth effortlessly over time. The book argues that you don’t need a budget, willpower, or a high income to become wealthy; instead, you need a system that works in the background. It advocates for automating savings, investments, and bill payments.
- Automation: Emphasizes the benefits of automating your finances.
- Pay Yourself First: Advices on automatically directing a portion of your income into savings or investments.
- No Budget Required: Argues that effective financial planning doesn’t necessarily require a budget.
16. Get Good with Money” by Tiffany Aliche
“Get Good with Money” offers a holistic approach to personal finance, aimed especially at those who feel left behind or overwhelmed by the topic. Tiffany Aliche offers a 10-step plan for financial wholeness, covering everything from budgeting and saving to increasing income and estate planning.
Aliche’s writing is particularly accessible and aims to make financial literacy attainable for everyone.
- Ten-Step Plan: Provides a comprehensive 10-step guide to achieve ‘financial wholeness.’
- Financial Wholeness: Focuses on a holistic approach to financial health, including emotional well-being.
- Accessible Language: Uses simple, relatable language to break down complex financial topics.
17. Broke Millennial by Erin Lowry
Aimed at a younger audience grappling with the financial challenges of early adulthood, “Broke Millennial” offers practical advice on handling money, paying off debt, and avoiding the pitfalls that lead to financial insecurity. Erin Lowry tackles complicated issues like student loans, budgeting, and investing for beginners in an approachable way. The book offers a relatable perspective on managing money as a millennial.
- Millennial Focus: Addresses financial issues commonly faced by millennials such as student loans and high living costs.
- Practical Tips: Provides actionable advice for budgeting, saving, and investing.
- Investing for Beginners: Makes the intimidating topic of investing accessible to young adults.
Books On How To Make Money -Entrepreneurship
Eric Ries introduces the concept of the “Lean Startup,” which emphasizes the importance of adapting and adjusting before any large sums of money or time are invested. The book introduces a systematic, scientific approach for creating and managing successful startups in an age when companies have to innovate more than ever. The core idea is to mitigate business risks by building a minimum viable product and measuring its success in the market.
- Minimum Viable Product (MVP): Advocates for launching a simple version of your idea that solves the problem.
- Pivot or Persevere: Advises startups to pivot (make a fundamental change) or persevere based on market feedback.
- Build-Measure-Learn: Introduces a loop to test and measure how effective and successful a startup can be.
19. Zero to One by Peter Thiel
In “Zero to One,” Peter Thiel contends that true innovation comes from going from zero to one (creating something new) as opposed to one to n (iterating on existing products). The book emphasizes the value of creating something new and offers unconventional wisdom on startup innovation and building a tech company. It challenges the competitive ideology inherent in capitalism and promotes the idea of gaining a monopoly in a niche market.
- Monopoly Theory: Argues that businesses should aim to build a monopoly in a small market and scale from there.
- Power Law Dynamics: Discusses how a single monopolistic business can often yield more than a diversified portfolio.
- Contrarian Thinking: Encourages entrepreneurs to think differently and question received ideas.
20. The $100 Startup by Chris Guillebeau
Chris Guillebeau’s “The $100 Startup” is aimed at simplifying the startup process. The book shows how a business idea can be profitable and impactful with a small investment, often as little as $100. The book is full of practical advice and focuses on the essentials like a simple business model, a modest investment, and a desire to make a difference.
- Microbusiness: Promotes the concept of starting small, focusing on a simple service or product that fills a specific need.
- Investment Efficiency: Demonstrates how to initiate a startup with minimal investment.
- Action-Oriented: Focuses on practical steps and highlights real-life examples.
21. The Four Hour Work Week by Timothy Ferriss
Tim Ferriss’ “The Four Hour Work Week” revolutionizes the idea of the “9-5 grind,” offering readers a blueprint to escape the traditional work routine. The book teaches you how to outsource tasks, automate your work, and generate passive income, all with the goal of freeing up time for things that matter more than work. Ferriss advocates for the “New Rich” lifestyle that prioritizes time and mobility over money.
- 4-Hour Workweek: Introduces the concept of working less but smarter by automating and outsourcing tasks.
- New Rich Lifestyle: Advocates for a lifestyle that prioritizes freedom and experiences over money.
- Mini-Retirements: Suggests taking breaks or ‘mini-retirements’ throughout life instead of deferring life dreams to post-retirement.
22. Crushing It! by Gary Vaynerchuk
In “Crushing It!”, Gary Vaynerchuk demonstrates how entrepreneurs can build their brand and monetize their passions by leveraging social media platforms. The book is a practical guide and includes a lot of real-world examples of people who have successfully turned their passion into a thriving business. Vaynerchuk emphasizes authenticity and the long-term value of creating strong personal brands.
- Personal Branding: Stresses the importance of building a personal brand in the digital age.
- Leveraging Social Media: Offers practical tips on using various social media platforms for business growth.
- Authenticity: Advocates for genuine engagement rather than gimmicks or shortcuts.
23. The Millionaire Fastlane by M.J. DeMarco
M.J. DeMarco’s “The Millionaire Fastlane” challenges conventional financial wisdom and retirement plans. The book introduces the concept of the “Fastlane,” a business and lifestyle strategy that slashes the time needed to become wealthy. DeMarco argues against the slow-lane path of getting a job, saving 10%, and retiring at 65, showing instead how to build scalable and profitable businesses.
- Fastlane Strategy: Advocates for creating businesses that can be scaled quickly for large profits.
- Wealth Equation: Introduces a new framework for looking at time, money, and how to leverage both.
- Financial Freedom: Emphasizes that financial independence can be achieved much earlier than traditionally taught.
Books On How To Make Money – Psychology and Self-Improvement
David J. Schwartz’s “The Magic of Thinking Big” posits that the size of your success is only limited by the size of your thinking. The book provides practical advice and techniques to boost self-confidence and reshape one’s mental outlook toward bigger and more attainable goals. It teaches you not to limit yourself and your aspirations by your current circumstances.
- Belief System: Advocates for adopting a belief system where you see yourself achieving what you want.
- Environment: Encourages surrounding yourself with people who think positively and on a large scale.
- Goal Setting: Focuses on setting high goals and outlines the tools to achieve them.
25. The 7 Habits of Highly Effective People by Stephen Covey
Stephen Covey’s seminal work offers a principle-centered approach to solving personal and professional issues. The book lists seven habits that aim to make individuals more effective in achieving their goals. It has influenced a wide array of readers from different walks of life by providing a universal solution for complex dilemmas through a well-structured framework.
- Personal vs. Public Victory: Divides the habits into those that lead to personal victory and those that lead to public victory.
- Proactivity: Promotes the concept of proactivity as the cornerstone of effectiveness.
- Synergy: Discusses the power of working collaboratively with others to achieve more than one could individually.
26. You Are a Badass at Making Money by Jen Sincero
Jen Sincero’s book focuses on developing a mindset that enables financial prosperity. She shares anecdotes and offers advice aimed at breaking through mental blocks to achieve financial success. The book is designed to help people understand and improve their relationship with money and to inspire the drive to succeed.
- Money Mindset: Emphasizes the importance of the right mindset for financial success.
- Actionable Steps: Provides practical advice on moving beyond limiting beliefs.
- Financial Self-Worth: Advocates for understanding one’s value and negotiating for it.
27. Think and Grow Rich by Napoleon Hill
One of the oldest bestsellers in this category, Napoleon Hill’s “Think and Grow Rich” focuses on the psychological power of thought and the brain in the process of furthering your career for both monetary and personal satisfaction. Hill outlines principles for success based on years of research of the behaviors and practices of successful people.
- Mastermind Groups: Recommends creating a group of skilled individuals to collaborate with.
- Definiteness of Purpose: Advocates for having a clear goal and strong desire to achieve success.
- Positive Mental Attitude: Encourages maintaining a positive mindset as a cornerstone for success.
28. The Psychology of Money by Morgan Housel
Morgan Housel’s “The Psychology of Money” delves into the emotional and psychological aspects of money. It’s not a “how-to” guide for getting rich, but rather a collection of stories and lessons about how psychology shapes our financial decisions. Housel argues that success with money has little to do with how smart you are and a lot to do with how you behave.
- Emotional Finance: Discusses how emotions often trump logic in financial decisions.
- Long-Term Thinking: Encourages a long-term perspective for lasting financial success.
- Risk Management: Stresses the importance of managing risk and understanding its psychological impacts.
29. Me We Do Be: The Four Cornerstones of Success by Randall Bell
Randall Bell’s “Me We Do Be” outlines a framework for success that includes personal development, social interaction, action, and habit-forming. Bell uses research and real-life examples to explore how these cornerstones lead to a more productive and fulfilling life. The book is structured around a multi-faceted approach to achieving success.
- Me-We-Do-Be Framework: Introduces a four-part approach to achieving personal and professional success.
- Holistic View: Takes into account both individual and collective behaviors.
- Action and Habit: Emphasizes the significance of actions and habit-forming in achieving success.
30. The Science of Getting Rich by Wallace D. Wattles
Wallace D. Wattles’ “The Science of Getting Rich” is a guide to manifesting wealth through the power of positive thinking and a fixed focus on your goals. Written in 1910, it laid some of the groundwork for the modern self-help genre and emphasizes a spiritual approach to attaining wealth and prosperity.
- Law of Attraction: Advocates the use of mental visualization to attract financial gain.
- Positive Thinking: Stresses the power of a positive mindset in wealth accumulation.
- Action-Oriented: While it advocates for positive thinking, it also calls for concrete action towards achieving financial goals.
31. The Art of Money Getting by P.T. Barnum
Written by showman P.T. Barnum, “The Art of Money Getting” is a classic text that discusses the principles of making money from the perspective of a man who made a fortune in the 19th-century entertainment business. Despite its age, the book’s principles on finance and success still hold true today.
- Hard Work and Discipline: Emphasizes the importance of discipline, punctuality, and hard work.
- Business Ethics: Discusses the value of honesty and reliability in business.
- Economic Sensibility: Offers old but gold advice on spending less than you earn.
Books On How To Make Money – Economics and Historical Perspectives
Thomas Piketty’s “Capital in the Twenty-First Century” is a sweeping economic time that addresses income inequality in the modern world. Using data from the past three centuries, Piketty argues that capital tends to grow faster than the overall economy, which exacerbates inequality. The book suggests that this problem could lead to social and economic instability, and offers a global wealth tax as a potential solution.
- r > g: Discusses the concept where the rate of return on capital (r) is greater than the rate of economic growth (g), which leads to inequality.
- Historical Data: Uses extensive historical data to show how inequality has evolved.
- Global Wealth Tax: Proposes a global tax on wealth as a solution to reduce inequality.
33. “Freakonomics” by Steven D. Levitt and Stephen J. Dubner
“Freakonomics” by Steven D. Levitt and Stephen J. Dubner explores the hidden side of everything, applying economic theory to diverse subjects not usually covered by “traditional” economists. In a collection of essays, the authors look at how people get what they want, or need, especially when other people want or need the same thing. It reveals surprising connections between seemingly unrelated fields.
- Incentives: Focuses heavily on how different types of incentives motivate decisions in various walks of life.
- Contrarian Views: Provides alternative explanations for various phenomena, like why crime rates fell in the 1990s.
- Data-Driven: Uses data analysis to drive home its points, encouraging readers to look at the world differently.
34. The Wealth of Nations by Adam Smith
Adam Smith’s “The Wealth of Nations” is a foundational text in economics that laid the groundwork for modern capitalism. Written in the 18th century, the book argues that free-market economies are more productive and beneficial to society. Smith introduced groundbreaking ideas like the ‘invisible hand,’ the division of labor, and the benefits of competition.
- Invisible Hand: Introduces the concept that individual self-interest inadvertently contributes to the overall good of society.
- Division of Labor: Explains how the specialization of tasks leads to increased efficiency and productivity.
- Free Market: Advocates for minimal government intervention and emphasizes the role of competition.
35. The Richest Man in Babylon by George S. Clason
George S. Clason’s “The Richest Man in Babylon” uses parables set in ancient Babylon to teach fundamental principles about money and investing. Through simple stories, it provides timeless financial wisdom, particularly about saving money and growing wealth. The book is often recommended for people who are just starting to manage their own finances.
- Pay Yourself First: Advices setting aside a minimum of 10% of your income before doing anything else.
- Wisdom of Saving: Highlights the importance of disciplined saving for financial security.
- Invest Wisely: Encourages thoughtful investment as a means to increase wealth.
Books On How To Make Money – Business and Finance Strategy
“The Snowball” is an authorized biography of Warren Buffett, one of the world’s most successful investors. Written by Alice Schroeder, a former Wall Street analyst, the book not only delves into Buffett’s investment strategies but also provides a detailed look at his life and philosophy. Buffett’s unique approach to life and business is explored in-depth, offering valuable insights into the man known as the “Oracle of Omaha.”
- Value Investing: Provides a deep dive into Buffett’s value investing strategy, emphasizing long-term investments in companies with strong fundamentals.
- Personal Philosophies: Explores the mix of personal philosophy and business acumen that has contributed to Buffett’s success.
- Life Lessons: Chronicles the life journey of Buffett, offering lessons in not just finance but also in integrity and humility.
37. Thinking, Fast and Slow by Daniel Kahneman
Daniel Kahneman’s “Thinking, Fast and Slow” dives into the dichotomy between two modes of thought: “fast, instinctive and emotional” versus “slower, more deliberative, and more logical.” The book explores the pros and cons of each type of thinking, as well as the biases and errors that can result. While not a business book per se, its insights are highly relevant for decision-making in business and finance.
- System 1 and System 2: Introduces the concept of two systems that drive our thinking and decision-making.
- Cognitive Biases: Discusses various cognitive biases like overconfidence, anchoring, and the framing effect, which can affect financial decisions.
- Decision-making: Provides a nuanced understanding of how decisions are made, which can be applied to investment, risk assessment, and other business strategies.
38. The Art of the Deal by Donald Trump and Tony Schwartz
Co-authored by businessman and former U.S. President Donald Trump and writer Tony Schwartz, “The Art of the Deal” outlines Trump’s views on negotiation and business. The book offers an inside look into his approach to real estate, business leadership, and deal-making. Often seen as a part manifesto, part memoir, it provides an outline of Trump’s approach to business, written before he entered politics.
- Deal-Making: Focuses on Trump’s deal-making strategies, often highlighting his belief in aggressive and sometimes confrontational negotiation tactics.
- Risk and Reward: Talks about balancing risk and reward in various ventures, and how this has shaped Trump’s business career.
- Personal Branding: Emphasizes the importance of building and leveraging a personal brand in the world of business.
Books On How To Make Money – Summary
The journey toward financial independence and business success is a multifaceted endeavor that requires more than just tactical skills; it demands a strategic mindset, emotional intelligence, and a well-rounded understanding of economics and market dynamics.
The books we’ve discussed offer a valuable roadmap for anyone interested in making money, from foundational investment strategies and personal finance management to groundbreaking theories on economics and decision-making psychology. Whether you’re a beginner or an experienced entrepreneur, these books provide invaluable insights that can help shape your approach to financial growth.
Some key takeaways include the importance of a disciplined saving strategy, the need for continuous learning in the rapidly evolving landscape of business and finance, and the impact of psychological biases on our financial decisions.
If you found this roundup helpful, we invite you to explore our blog for more enlightening posts on entrepreneurship and making money. There, you’ll find a wealth of information designed to guide you through the complexities of the financial world, such as;
- The Ultimate Guide to Running a Business While Traveling
- How to Bounce Back from Failure in Business: 17 Powerful Methods
- Expectations vs Reality When Starting Your Own Lifestyle Business
- How to Raise Money for a Business: 7 Effective Methods
These books not only equip you with the knowledge to make informed choices but also challenge you to rethink your existing beliefs and strategies.
Here’s to your financial and entrepreneurial journey.
The “best” book can vary depending on your specific needs, goals, and current level of knowledge. However, classics like “The Intelligent Investor” by Benjamin Graham and “Rich Dad Poor Dad” by Robert Kiyosaki are often recommended for their broad appeal and foundational insights into making money through investments and financial literacy.
A combination of books that cover investing, entrepreneurship, and personal finance can offer a well-rounded view of making money. Titles like “The Millionaire Fastlane” by M.J. DeMarco for entrepreneurship, “The Bogleheads’ Guide to Investing” by Taylor Larimore for investing, and “The Total Money Makeover” by Dave Ramsey for personal finance are good starting points.
Reading books alone won’t directly earn you money, but the knowledge and skills you acquire can be invaluable for making informed financial decisions. Whether it’s learning how to invest wisely, start a business, or manage your personal finances, the knowledge gained can translate into monetary gains over time.
“Rich Dad Poor Dad” by Robert Kiyosaki is widely considered a must-read for understanding the basics of financial literacy and the differences between assets and liabilities. Its easy-to-understand principles make it a valuable starting point for anyone new to the concept of making money and building wealth.
“The Psychology of Money” by Morgan Housel and “Thinking, Fast and Slow” by Daniel Kahneman are excellent reads for understanding the psychological factors that influence our financial decisions.
While some principles in older books like “The Wealth of Nations” by Adam Smith remain foundational to economic theory, it’s essential to supplement these with more contemporary insights due to changes in economic landscapes, markets, and financial instruments.
Understanding economics can offer a broader perspective on how money works on a macro level, but it’s not strictly necessary for individual financial success. Books focused on personal finance and investing may be more immediately applicable.
Books can provide valuable knowledge and insights, but they don’t replace the personalized advice a qualified financial advisor can offer. Advisors can tailor recommendations to your specific financial situation, something a book can’t do.
Books like “The Lean Startup” by Eric Ries and “Zero to One” by Peter Thiel are considered foundational reads for aspiring entrepreneurs. They offer insights into business strategies, innovation, and scaling a company.
Start by evaluating your current financial situation and identifying your goals. The principles in these books can then serve as a guide for actionable steps. Whether it’s investing in the stock market, starting a side hustle, or creating a budget, these books offer various strategies for different financial paths.