The rich often turn to books for insights and strategies for controlling and growing wealth, and so should everyone else.
Here are 10 books they cite as secret weapons.
- “The Intelligent Investor” by Benjamin Graham focuses on investing in undervalued stocks and taking a long-term approach. Warren Buffett calls it “the best book on investing ever written.”
- “The Psychology of Money” by Morgan Housel explores how emotions and biases affect how we handle money. Entrepreneur Tim Ferriss recommends it for its practical insights.
- “The Little Book of Common Sense Investing” by John C. Bogle promotes investing in low-cost index funds as a simple and effective strategy.
- “Think and Grow Rich” by Napoleon Hill discusses the mindset of successful people. Tony Robbins calls it essential to understand the psychology of success.
- “Coffee Can Investing” by Pranab Uniyal, Rakshit Ranjan, and Saurabh Mukherjea focuses on a patient investment strategy, emphasizing high-quality companies.
- The Dhandho Investor” by Mohnish Pabrai explains how to find undervalued investments that offer high returns with minimal risk.
- The Essays of Warren Buffett,” edited by Lawrence Cunningham, compiles Buffett’s letters highlighting his investment philosophy. Carl Icahn recommends it for understanding Buffett’s methods.
- Rich Dad Poor Dad” by Robert Kiyosaki encourages building wealth by investing in assets, not just earning a paycheck.
- The Richest Man in Babylon” by George S. Clason teaches financial principles like saving and smart investing through ancient stories. This is one of my favs.
- One Up On Wall Street” by Peter Lynch stresses the importance of understanding the businesses you invest in.
These books offer wealth-building knowledge and time-tested strategies from some of the most successful people. The key is applying their teachings to your own financial goals and circumstances.
You have likely seen many of these books mentioned. Did you write them down? If you like tidbits like these in this post, and quick lists you can save to refer to — please let me know.