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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
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
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!