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Reading is essential to your wealth-building journey! As a matter of fact, research shows that the average millionaire reads 2-4 books per month.
When I make guest appearances, one of the last questions I’m asked is “what books helped you get to this point?”
That’s why I wanted to take a few moments and share the 5 books that I believe played the biggest part in us growing our net worth by over $100k in just under 3 years.
#1 Total Money Makeover by Dave Ramsey
This was one of the first personal finance books I read once we committed to turning our finances around.
This book provides every single reader with a roadmap to financial success through the 7 Baby Steps.
It’s filled with funny stories and clear action steps you can take today to have a better financial future.
If you’re struggling with money and just don’t even know where to begin, this is THE starting place.
#2 The Richest Man In Babylon by George Clason
This book is a HUUUGE sleeper pick. I don’t believe enough bloggers and financial experts talk about this one.
In this one, you’ll learn even more timeless money management principles, however the book is written in the form of a fiction story that’s easy to follow. You also get to see the implementation of these principles and the reasoning behind them on a deeper level
Listen, this book is one of my favorites because it’s so powerful yet so practical. I can honestly say that this is a book I wish I had gotten for my high school graduation or even sooner.
#3 The Millionaire Next Door by Thomas J Stanley.
An American classic here! There’s a reason EVERYBODY who knows money recommends this one.
This book takes an in-depth look at the lifestyle of the average millionaire. I mean it details the types of cars they drive, homes they live in, clothes they wear, and so much more.
I put this book third not because it was third best, but because, once we got on a solid foundation, our next goal should be to build wealth and leave a legacy.
There’s no better way to learn how to do that than by reading a book that’s done all the research and analysis of how people who are already in that position live.
Definitely do not skip this one!
#4 Retire Inspired by Chris Hogan
This is definitely my absolute favorite on this list. Chris Hogan is my guy!
His book Retire Inspired really changed my perspective on retirement. I don’t want to give too much of this one away, but Chris does a great job driving home the point that retirement isn’t about an age, but more about a financial number. And nobody can decide what that financial number is but you.
I’ve read this book a few times already and have even gifted it to some folks. As a matter of fact, the first time I read it was in 3 sittings while on a cruise. I highly recommend it.
#5 Simple Wealth, Inevitable Wealth by Nick Murray
Nick Murray dispels a lot of the myths surrounding investing and shows just how irrational a fear of investing really is in this awesome book!
He also lays out what to look for when you’re considering working with an adviser.
This book really just does a great job of laying out the big mistakes to look out for in the investing world.
I recommend it for those who have freed up their income by becoming debt-free and are now moving into the wealth-building phase.
So, in order, we have:
Total Money Makeover then The Richest Man in Babylon to get things going in the right direction.
Once we get to a solid place financially, we have to shift our mindset about what wealth actually looks like and that happens in The Millionaire Next Door.
Then, after we take on the right mindset, it’s time to focus on building wealth which is why I recommend Retire Inspired by Chris Hogan and Simple Wealth, Inevitable Wealth by Nick Murray.