Warren Buffett, one of the richest men in the world, credits his enormous success to reading.
In fact, many wealthy people spend a substantial amount of their time reading. These books cut across every known area of investment, including stocks, real estate, among others. Though it may not guarantee that you’ll get rich, such books can lay the foundation for your journey to riches.
To help you get started, here’s a list of the ten favorite books of millionaires.
Arguably one of the finest and well-known books on investing, “The Intelligent investor” contains a wealth of wisdom. Written by Benjamin Graham - a British-born American investor and Wall Street legend, the book spells out a unique approach based on value investing. The book has been widely acclaimed and recommended by world-renowned investors including Warren Buffett. If you want to learn about a philosophy that can help you identify successful investments, this is the book for you.
2. The Little Book of Common Sense Investing
Written by John C. Bogle, the founder of Vanguard Group and creator of the world’s first index fund, “The Little Book of Common Sense Investing” highlights the most efficient ways of investing. In this book, Bogle shares his experience as an investment strategist and attempts to expose his readers to the reality of building wealth through index investing.
Think and Grow Rich
Rich Dad, Poor Dad
In this life-transforming piece, Robert Kiyosaki tells a captivating story between two dads - his own and that of his best friend. Robert reveals in this classic novel, the difference in the mindset of the poor, middle class and the rich. Also in this book, he shares his thoughts on why it’s necessary to have multiple streams of income to create wealth.
Common Stocks and Uncommon Profits
This classic by Philip A. Fisher is one of the best books on stocks you will ever read. The book offers a comprehensive approach to picking the best stocks based on well-conducted research about companies. Despite being published before the internet era, the contents of the book are just as relevant today as they were before.
You may have heard the likes of Bill Gates, Warren Buffett, and other incredibly impressive investors speak highly of this book. Gates described it as the best book he’s ever read, and you will too after you are done reading about twelve critical moments in American industry.
How Rich People Think
Steve Siebold interviewed several of the richest people in the world and studied how they acquired their wealth. The book reveals insights into wealth creation and shows you how to break out of middle-class money mindsets.
The Essays of Warren Buffett
In this book, Warren invites you to live in his head – at least for the most of the book. This is by far the most insight you can get into the billionaire investor’s philosophies in life, investing and business. The book which was co-written by Lawrence A. Cunningham contains a collection of notes and shareholder letters written by Buffett.
The Clash of The Cultures
The Clash of the Cultures is yet another masterpiece written by John Bogle. The Vanguard founder discusses the difference between long-term investment and short-term speculation and the reason institutional investors might not have their clients’ best interests at heart.
The Automatic Millionaire
In the Automatic Millionaire, Bach reveals the secret to becoming rich. The book starts off using an average American couple as a case study and how they managed to net a million dollars in savings despite a bumpy ride. Picking up and thumbing through some of the above-listed books will provide you with a different perspective on investing and wealth creation.