88% of the rich read daily while 67% of the rich watch less than one hour of TV per day. Want to know how many poor people read? 2%. These are a few of the eye opening stats that Thomas Corley found after interviewing hundreds of rich and poor people on their daily habits. His book, Rich Habits: The Daily Success Habits of Wealthy Individuals, is one of the best books on the habits of the rich and steps you can take to be apart of the 1%.
When most people are done with their formal education, they think that they are done learning. I have seen this in many millennials that think that they now have the skills to go out and be successful and get rich. I was this person until three years ago. I thought I should be entitled to earning a good salary and having an edge on someone without a degree. I thought that a degree meant success. This couldn’t be any further from the truth. A degree gets your foot in the door, but being a continuous scholar is what separates the average from the rich.
I read at least one book per month so I try to set aside time every night to get this done. These are some of the many books that have changed my life and taught me the steps to take on my journey towards financial freedom.
“How To Win At The Sport Of Business” by Mark Cuban
Mark Cuban is a badass. He is my all time favorite entrepreneur and one of the smartest businessmen in the world. He is also the star of the ABC’s hit show, Shark Tank.
Mark always offers practical money and life advice for millennials and his book, “How To Win At The Sport Of Business” is an easy read that will change your life. In this tiny book, which is basically just his blog posts, he talks about his personal experiences with life, business, and money.
He talks about how getting fired, being a bartender, and living with five other friends in a small apartment in Dallas helped give him a foundation for success.
If you think you have it rough, Mark takes you through his journey of many failures.
“Rich Dad Poor Dad” by Robert Kiyosaki
This book is a game changer. Robert talks about how he grew up with two dads (one was the father of his childhood friend), and their different philosophies on life and wealth. For me, this book really puts into perspective how people’s thinking can affect their ability to get rich.
“When you are young, work to learn, not to earn.” This is probably one of the best takeaways from this book. Too often do we see people that choose a job for the money or prestige. Millennials need to be in positions where they have the chance to be scholars and learn from the best. A high salary is great until you realize that you have just gotten laid off and have no idea who will pay you the same amount.
“The 4-Hour Workweek” by Tim Ferris
Tim Ferris is the ultimate entrepreneur that has become one of the biggest bloggers in the world and has three bestselling books. After graduating from Princeton, he realized that he did not want to work the typical 9-5 and wanted to make his own way.
In “The 4-Hour Workweek,” Tim teaches his readers ways to escape the typical 9-5 and live the life that you want on your own terms by using the same practices he does. He teaches his readers how to set up passive income, travel, use virtual assistance on small tasks, and how to outsource almost anything. He also has tricks on how to learn and read faster to save time for the things you enjoy. His blog also offers hundreds of resources for people that want to change their lives as well as a podcast where he interviews some of the top minds in the world.
“The Millionaire Next Door” by Thomas Stanley
There is a reason why this book has sold more than 3 million copies since it was published in 1996. This is an eye-opening book that talks about more than just how the rich are frugal.
Thomas Stanley’s extensive research of the wealthy guides us through the minds of the rich and not so rich. Thomas talks about how he has met with people with “average” salaries that have much higher net worth’s than medical doctors. He also outlines ways that rich parents ruin their children’s financial lives by creating dependency.
The book really creates a sense of awareness on what it really takes to be rich, and how there is sometimes no way of telling how much money somebody actually has.
“I Will Teach You to Be Rich” by Ramit Sethi
If you already know a lot about finance and money, you’ll probably want to skip this one. This is one of the best books for beginners that are just starting to get interested in learning about money and saving.
Remit Sethi is another guy like Tim Ferris that set out to be his own boss and take control of his life. He is a personal finance guru that has practical ways on how to save and spend money on things you enjoy.
His book, “I Will Teach You to Be Rich,” has a six week personal finance program designed for people in their 20’s and 30’s. This book is different than other personal finance books as Ramit gives specific recommendations on banks to use, investment platforms, and other resources that could be helpful.
If you want to change your life for the better, put down the remote and pick up one of these books!