Want To Become a Millionaire? Read These Books!

Advice on becoming a millionaire

Becoming a millionaire is a daydream of some while others are working daily towards that goal. You may be struggling with your finances and wonder what it is like to be a millionaire. They say the first million is the hardest because you don't realize that you can actually do it.

Fortunately there are some great books on the market that have studied what millionaires do and what kind of mindset it requires to become wealthy. In this article I'd like to list some books that show what it takes to earn money and how to manage your finances.

Feel free to suggest books in the comments or to give recommendations, I can include those in a separate section! Note that I'm not going to review the books in detail; I'm just giving an overview with some comments about the books.

Think and Grow Rich by Napoleon Hill

This book is truly a classic book on taking action and working towards a successful business or other another method of building wealth. Many business owners have read this book and although it was first published in 1937 it continues to be an inspirational book.

The book makes it very clear that you have to know what you want and then you have to make plans to work towards your goals. I also like the part at the end where Napoleon Hill talks about all the excuses that we tend to come up with for not achieving our dreams. We can think of many reasons why we're not successful or rich, such as lack of education, bad childhood, a variety of fears (including fear of success!) and so on. Napoleon Hill makes it very clear that they are just that: excuses.

The book was published a long time ago so the text is now in the public domain. You can find the text of Think and Grow Rich online.

Secrets of the Millionaire Mind by T. Harv Eker

This book clearly contrasts the difference in how rich and poor people think. The words "rich" and "poor" here refer to their financial condition, they could of course be living a very rich family life. Anyway, the way you think about certain subjects, such as money, has a profound impact on whether you'll actually accumulate wealth.

In this book you'll find many points and the way rich and poor people approach it. The book focuses on the mindset or how to view things rather than giving practical advice of what wealthy people do. In other words, it explains why rich people do things rather than giving a list of specific real-life actions to take. The book does mention briefly a strategy on how to manage your money but nothing all too detailed.

Even a basic understanding of the principles in the book can save you from a lot of financial troubles. In short, it comes down to managing your money properly and that's how some people actually become millionaires.

In the book Think and Grow Rich it is mentioned by Napoleon Hill that "more gold has been mined from the thoughts of men than has been taken from the earth". This book by T. Harv Eker explains that in more detail: it's the mindset that matters, not your current or past situation.

The Richest Man in Babylon

The Richest Man in Babylon by George Samuel Clason

The Richest Man in Babylon is a collection of stories that take place in ancient Babylon. It really shows that managing your money is nothing new.

In understandable stories, the author explains basic principles of managing and saving money. For example, don't spend more than you earn and make sure you can trust those that you give your money to for investments.

One of the stories in the book is about a man who gives money to his friend to purchase gems in a nearby town. When the friend comes back, it turns out he has bought worthless pieces of glass and the investment is lost. In modern times we have all kinds of ways to manage money: from a savings account to complex financial products. However, the basics have always been the same: only seek investment advice from those who are trustworthy and capable to give the advice in the first place.

This book reduces financial problems to their essence and it shows how money should be properly managed.

The Science of Getting Rich

The Science of Getting Rich by Wallace Delois Wattles

The Science of Getting Rich is in particular interesting if you're struggling with the idea that religious or spiritual people should not spend their time thinking about money. Other than that it presents similar ideas on how to accumulate money and how to attract wealth.

This book has actually been published in 1910 and as a result the text is now in the public domain. You can find the text of The Science of Getting Rich online.

Various books on Thinking BIG

The books The Magic of Thinking Big by David Schwartz and Think BIG and Kick Ass in Business and Life by Donald Trump and Bill Zanker highlight the importance of, obviously, thinking big.

For example, if your aim is to earn $1,000 a month then commonly that's what you'll end up achieving. But if your goal is to earn $10,000 or $100,000 a month then things become a lot more interesting. It's also a lot more exciting to work towards such a goal than towards the relatively mediocre goal of $1,000 a month.

Other recommended books

  • None so far!

Post a comment below if you want to recommend a book that would look good in this list of books!

This article was written by Simeon Visser. I am earning money online by writing here at HubPages.com. Would you like to earn money online as well? Read the success stories and sign up today to get started!

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Comments 13 comments

Rebecca E. profile image

Rebecca E. 5 years ago from Canada

great books, and well done hub,really really well done. Thanks for the comment btw =) I really agree with teh idea of think and grow rich, as I have read it, but I would add that if you are in debt you need to get out before these books help =) Great hub, stumbled.


simeonvisser profile image

simeonvisser 5 years ago Author

Thanks Rebecca :) I agree that getting out of debt should be a first priority before anything else.


SUSIE42 profile image

SUSIE42 5 years ago

Probably a great list. However, I think buying these kinds of book only makes millionaires out of the authors.


simeonvisser profile image

simeonvisser 5 years ago Author

@SUSIE42: The book authors certainly benefit but I do think that some books can prove to be very inspirational. Certain beliefs, attitudes or ideas could prevent you from having success or reaching your full potential. The knowledge in these and other books can help in changing the way you view things.


manjubose5 profile image

manjubose5 5 years ago

I love writing on Hubpages.com and like to earn little as well. But could not get proper path. Can you give some tips for hubpages?

Congratulations for your success and effort. Thanks for sharing your knowledge.


simeonvisser profile image

simeonvisser 5 years ago Author

You should write more hubs. In particular when you're still learning I think it's important to write hubs on various topics to see what is popular and what is not. Also, if you have 14 hubs then you only have 14 pages with ads on it. Unless those pages are doing really well, you won't earn much. That's also why I keep writing hubs to learn more about how to write the hubs and what attracts views. Then you'll start earning :)


Majadez profile image

Majadez 5 years ago from Johannesburg, South Africa

Thanks. Your hubs have been quite helpful. I read The Richest Man In Babylon and The Science of Getting Rich. I'm currently about to read the first Think Big book. The thing is most people have to read more and more of these books until their mind set changes and it takes effort and continuity to learn and even more so to apply what you have learned. I think most people just give up after the first few books and slip back into their old patterns.


simeonvisser profile image

simeonvisser 5 years ago Author

Thanks Majadez, there is indeed the risk of falling into existing habits and applying what you've learned is often the hardest.


platinumOwl4 profile image

platinumOwl4 5 years ago

This is a magnificent hub. The majority of these books are readily available. Yet, most people will never purchase or read one if given to them. Maybe someone should write an article using reverse psychology. The topic of an article for later this. I am however aware that old habits are difficult to break and replace with new ones.


platinumOwl4 profile image

platinumOwl4 5 years ago

Did you know The science of Making money is available in Mp3 form? The Millionaire Next Door. Written by Thomas J. Stanley


simeonvisser profile image

simeonvisser 5 years ago Author

@platinumOwl4: You're right that many won't read these type of books. It's also true that old habits are hard to break. Thanks for sharing that tip, I was not aware of the MP3. Although, many popular books are now also available as audio-books.


Ian Dabasori Hetr profile image

Ian Dabasori Hetr 3 years ago from Papua New Guinea

Its a great list. I read and studied most of them. You may wish to include Rich Dad Poor Dad by Robert Kiyosaki. Include also that of Jamie McIntyre, What I Didn't Learn in School But Wish I Did. Investments books by Warren Buffet offer timeless success principles. Include them. Success without leadership abilities is unsustainable so you may wish to include books by Drs. Stephan R. Covey, John C. Maxwell, Myles Munroe and others. Brilliant self help books.

Someone said getting out of debt before getting rich. I find it quit not right from my own experience as a young entrepreneur. Here is why.

"There are good debts and bad debts".

Let me give you a real life scenario with my best friend. When we left college in 2008, I devoted undivided attention and time into studying successful people and building business and investing. Because I love writing and teaching, you will find in here the hubs I write , sharing my discoveries and experiences.

My friend decided to go for a well paid, secured job....One year later, he call me to announce purchase of his new toy that was in 2009. A fancy new car. Woh! How did he do it? He got a loan and bought his car. The point is, the moment he drove the car out of the car dealer gates, the value started depreciating. And so the monetary value of the car except the cost that kept going up....

At the same time, I built just enough income from my training organization (SkillTech Corporate Training). My good friend got a $4000. That was in 2008.

In the same year, I applied for a much bigger loan. I was in debt, but good debt. I place some of my money down, applied for a bigger loan and followed the 100: 3: 1 property buying strategy I picked from Robert Kiyosaki's book Retire Young retire Rich. I Inspected, 100 properties, made offer to 3 and bought 1. A good family unit. Positive cash flow from rentals every month. More than enough to buy myself a car for myself and probably one for another close friend.

For me, I made my money work for me with good debt. The rentals worked to repay my loan. My friend worked for money to repay his loan with a bad debt.

You see the difference between good and bad debt?

Late 2010 in one of my business seminars, my friend came in a another friend's vehicle. Surprised, I asked him. "And our toy". He smiled and said "In the workshop. He was still repaying the loan.

By then, I was winding down to complete my loan. As I am writing now, I have again used my first property as equity to go deeper in debt and build my investment portfolio. At least I have started young and looking forward for a brighter, financially free future.

Please don't get me wrong here. I am trying to show you that millionaires DO get into DEBT to build their wealth. But they get into good debt. If you not only read but study the books recommended here, you will discover intangible interpretations that ordinary eyes not focused on success easily miss picking up.

Once I got hold of this very important definitions;

****Asset are thing that bring money into your account

****Liabilities are thing that bring money out of your account

My whole perception to wealth creation took a complete, 360 degree turn.

I struggle to get into debt and buy assets. If you can quickly turned you earned income (from job or business) into passive (real estate, hub pages) and portfolio income (paper assets) like stocks and bonds, you are on your way up to being financially free.

Where did i get these success principles? From reading books by millionaires.

Thank you and this is my personal take on the subject of debt.

Cheers

Ian


Lorene 23 months ago

It's a pleasure to find such rainatolity in an answer. Welcome to the debate.

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