Best Books on Building Wealth and Financial Prosperity

Some people are not aware of the importance of saving and growing money. If you have sufficient income and it is in your power to keep aside some money, you must go for it. This is because emergencies like health crises, breakdown of your vehicles, and job loss can hit your financial stability hard.

If you do not know how to save and grow your money strategically, you should go through some of the best books on wealth creation.

1. Think and Grow Rich, Written by Napoleon Hill

source: amazon

This book is the result of 20 years of study of more than 500 successful people, reflecting the 13 common traits that helped them grow their wealth.

Why Should You Read?

Think and Grow Rich is among the list of best books on building wealth that advocate 13 essential principles, including desire, Faith, Specialized Knowledge, Imagination, Organized Planning, Persistence, etc.

The writer has made all his observations after carefully interviewing the success stories of Henry Ford, Andrew Carnegie, Thomas Edison and other millionaires. By reading, you can learn secrets to earning fortunes by staying positive and focused for the long term.

2. Rich Dad Poor Dad, Written by Robert T. Kiyosaki

source: kobo

This book teaches financial wisdom through a story where a boy has two fathers, one is poor, and the other is rich.

Why Should You Read?

Rich Dad Poor Dad can motivate you to take the actions that will enhance your prospects of growing wealth. It is, to a large extent, based on the life of the writer himself. He advocates the things he has learned throughout his life about saving money.

Aspects that he has spoken about in this book on building wealth are budgeting, managing, investing, and other basic insights about accounting.

3. Money: Master The Game, Written by Tony Robbins

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Tony Robbins has interviewed some high-wealth and successful investors to delineate seven major principles to achieve financial freedom through this brilliant book on wealth creation.

Why Should You Read?

Tony Robbins, one of the influential and revered thinkers, has interviewed some of the most famous investors, including Warren Buffett, John Bogle, Ray Dalio and Carl Icahn. You can learn about financial decisions, savings and investment plans, securing additional income sources, etc.

4. The One-Page Financial Plan, Written by Carl Richards

source: amazon

This book conveys the key aspects that will make your financial planning less troublesome, even if you are less disciplined.

Why Should You Read?

Most people seek only advice which will derive only a positive result. In that pursuit, they do not undertake the things necessary to meet goals.

From The One-Page Financial Plan, you will be able to learn to see the big picture about your financial prospects by prioritising the goals in life. It does not advise you to bother with what the market trend is. Instead, it guides you to achieve which factors are the most important for you.

5. The Barefoot Investor, Written by Scott Pape

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The book guides you on administering your finances by instilling simple habits like living in the present, eliminating debts and safeguarding post-retirement needs.

Why Should You Read?

This book will not instruct you to make strict and overwhelming financial plans you will not follow after 2-3 days. Rather, you will learn how to create an easy financial plan that you can follow without stressing yourself. It advocates the 'Trapeze Strategy' to grow your savings and overall wealth.

This book is also replete with several stories of common people, families or retirees who have achieved significant results after following the principles stated in this book on wealth creation.

6. The Intelligent Investor, Written by Benjamin Graham

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One of the best books on wealth creation, The Intelligent Investor, propagates the principles of value investing, using which you can choose stocks that will generate profit in the long term.

Why Should You Read?

The Intelligent Investor, one of the best investing books, contains lessons Benjamin Graham taught in his classes. It has summarised the studies of the fundamental analysis of a company. You will learn to analyse the valuation of certain company stocks at a discounted price.

The lessons of this book will help you know which stocks are undervalued and have the potential to rise. Investing in those stocks allows you to book significant profit when they return to their actual values in time.

7. The Little Book That Beats The Market, Written by Joel Greenblatt

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The book contains stepwise guidance to use an easy mathematical formula to identify stocks that will fetch you high returns in the long term.

Why Should You Read?

The Little Book That Beats the Market, one of the best books to read to build wealth, states basic rules to help you successfully invest in the stock market. You will know the 'magic' mathematical formula to analyse stocks, written in simple language.

You can use the formula even if you are not a mathematical or accountant expert. It will help you understand which stocks pose potential risks and which ones are relatively safe for investment.

8. The Millionaire Fastlane, Written by MJ DeMarco

source: amazon

The Millionaire Fastlane has shown how to get your retirement early and delineated the mistake of getting a degree to secure a job, working hard and then retiring rich.

Why Should You Read?

The Millionaire Fastlane reflects the importance of persistence, boldness, and risk-taking. It will help you build an unconventional attitude towards building wealth. In this book, you will find the story of MJ DeMarco, who had an ambition to become rich without slaving in a professional field.

He reached his life goal by starting a company, selling it off, and buying it again later. Even after retiring at 33, he succeeded in becoming a millionaire. This book will inspire you to go out of the box.

9. The Total Money Makeover, Written by Dave Ramsey

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The Total Money Makeover will show 7 steps to help you stop asking for loans, repay existing loans and secure a stable financial future.

Why Should You Read?

By reading this book, you can instil some life-changing habits to save money for emergencies and enjoy a stress-free and debt-free life. The book unfolds the common lies or myths about finance. It also serves as a guided workbook with several self-assessment tools to help you stay on track while building new habits.

10. I Will Teach You To Be Rich, Written by Ramit Sethi

source: amazon

This book will help you know how to automatically save your hard-earned money while you enjoy things you like without worrying much about your future.

Why Should You Read?

I Will Teach You To Be Rich tells you which accounts and investment options will be right for you so that you can grow your money automatically, leaving your worries. It will motivate you to instil some healthy financial habits. You will learn to eliminate your student loans and other debts faster, save thousands every month, avoid late charges, etc.

The insights on stress-free ways to buy houses and cars, plan weddings, and bear other significant expenses will be helpful for you throughout your life.