The proper knowledge can be your most valuable asset in pursuing a seven-figure net worth. Studies show that 85% of self-made millionaires read at least two books per month, while the average American reads less than one book yearly.
The correlation between reading habits and wealth accumulation is no coincidence. These ten books represent the collective wisdom of researchers, entrepreneurs, and financial experts who have studied or achieved significant wealth.
Each offers unique insights into the mindset, habits, and strategies that separate the financially successful from those who struggle. Let’s explore the essential lessons from each of these wealth-building classics.
People who want to become self-made millionaires read these ten books:
1. “Rich Dad Poor Dad” by Robert Kiyosaki
This groundbreaking book has sold over 32 million copies worldwide since its publication in 1997. Kiyosaki’s central premise revolves around the difference between assets and liabilities. While most people work for money, Kiyosaki teaches readers to have money work for them through acquiring income-generating assets.
His Cash Flow Quadrant concept illustrates four ways people earn money: as an Employee (E), Self-employed (S), Business owner (B), or Investor (I), with actual wealth creation happening predominantly in the B and I quadrants. Kiyosaki defines wealth not by the size of your paycheck but by “the number of days you can survive without working.” This perspective shift—focusing on financial education and passive income—has transformed countless readers’ approaches to money management.
2. “Secrets of the Millionaire Mind” by T. Harv Eker
Eker introduces the concept of your “money blueprint”—mental programming established in childhood that determines your financial outcomes. The book identifies 17 ways rich people think differently from the middle class. For instance, wealthy individuals focus on opportunities, while others focus on obstacles.
Rich people admire other successful individuals, while the middle class often resents them. To reprogram your financial thinking, Eker provides practical exercises like “wealth declarations” and the “jar system” for money management.
His research found that people with wealth-focused mindsets increased their incomes by an average of 267% within two years. The book’s power lies in addressing the psychological foundations of wealth rather than merely tactical advice.
3. “Rich Habits” by Thomas C. Corley
Based on Corley’s five-year study of wealthy individuals, this book identifies specific daily habits that distinguish the rich from everyone else. His research found that 88% of wealthy people read for self-improvement at least 30 minutes daily, compared to just 2% of the poor.
Additionally, 76% of wealthy individuals exercise aerobically four days a week. Corley discovered that rich people spend significantly more time networking, pursuing goals, and tracking expenses. According to his research, these habits typically take 2-3 years to incorporate into one’s lifestyle fully. The book’s value comes from its focus on implementable daily actions rather than abstract concepts.
4. “Think and Grow Rich” by Napoleon Hill
Published in 1937 after 20 years of research studying over 500 successful individuals, including Andrew Carnegie and Thomas Edison, this book has sold over 100 million copies. Hill identified 13 success principles, including the power of thought and desire and the “mastermind principle”—the coordination of knowledge and effort between two or more people for a specific purpose.
He introduces the concept of autosuggestion, using affirmations to influence your subconscious mind toward success. Hill’s finding that success begins with a “definite chief aim” written down and revisited daily remains one of the most influential concepts in personal development literature. The book’s enduring impact stems from its empirical approach to success principles.
5. “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko
Based on extensive research involving thousands of millionaires, this book shattered conventional images of wealth. The authors found that most millionaires live well below their means, with 80% being first-generation wealthy. They identified Prodigious Accumulators of Wealth (PAWs) who prioritize financial independence over high consumption.
Their research revealed that the typical American millionaire drives a non-luxury car, lives in a middle-class neighborhood, and spends less than $400,000 on a home. Stanley and Danko found that 80% of millionaires are ordinary people who consistently follow the principle that “financial independence is more important than displaying high social status.” This research-backed approach to wealth accumulation through frugality and disciplined investing remains highly influential.
6. “How Rich People Think” by Steve Siebold
From interviews with over 1,200 millionaires and billionaires conducted over three decades, Siebold contrasts middle-class and wealthy thinking across 100 factors. The rich see money as an opportunity seed, while the middle class views it as a scarce resource.
Rich people pursue specific knowledge to solve problems and create value, while average earners focus on entertainment and general information. Siebold found that wealthy individuals are significantly more likely to choose their friends based on positive influence rather than convenience or history.
His research shows that the wealthy deliberately seek discomfort for growth while others prioritize comfort and security. The book’s strength lies in its direct access to the actual thought patterns of successful individuals.
7. “The Millionaire Fastlane” by MJ DeMarco
DeMarco challenges conventional financial wisdom by identifying three financial “roadmaps”: the Sidewalk (living paycheck to paycheck), the Slowlane (traditional save-and-wait approach), and the Fastlane (entrepreneurial wealth creation). The five Fastlane commandments—Control, Entry, Need, Time, and Scale (CENTS)—provide a framework for evaluating business opportunities.
DeMarco emphasizes that true wealth encompasses Financial, Family, and Physical Freedom—not just money. Implementing these principles led him to build and sell a multimillion-dollar business before the age of 35. The book resonates particularly with entrepreneurs seeking to accelerate wealth creation beyond traditional employment and investment models.
8. “The Automatic Millionaire” by David Bach
Bach’s book centers on “paying yourself first”—automatically directing at least 10% of income to investments before other expenses. His “Latte Factor” demonstrates how small daily expenditures compound significantly over time. With $5 daily savings invested at 8%, they grow to over $150,000 in 30 years.
Bach’s research showed that automating finances increased the average person’s savings rate by 300%. He advocates homeownership as a wealth-building strategy, with data showing homeowners have an average of 40 times the net worth of renters. The book’s practicality comes from its simple automation strategies that work regardless of income level or financial sophistication.
9. “The Psychology of Money” by Morgan Housel
Housel’s modern classic examines how human behavior affects financial outcomes more than mathematical knowledge. He demonstrates how personal experiences, risk tolerance, and social comparison dramatically impact financial decision-making through historical case studies.
Housel introduces the concept of “reasonable” versus “rational” decisions, showing why technically suboptimal financial choices often lead to better outcomes due to behavioral sustainability. He presents compelling evidence that saving habits depend more on controlling spending than on income level.
His research indicates that long-term financial success correlates more strongly with avoiding catastrophic mistakes than maximizing returns. This psychological approach to finance has garnered widespread acclaim for addressing the human elements frequently overlooked in financial education.
10. “The Education of Millionaires” by Michael Ellsberg
Based on interviews with numerous self-made millionaires without college degrees, Ellsberg identifies seven critical skills for success absent from traditional education. He found that practical marketing ability, sales skills, and relationship-building contributed more to financial success than academic knowledge.
His research showed that entrepreneurs earn 50% more on average than employees with similar educational backgrounds. Ellsberg documents how most successful entrepreneurs used mentors and real-world learning rather than formal education for their most valuable skills. The book provides a compelling alternative educational roadmap for those seeking financial success outside traditional pathways.
Conclusion
The journey to financial success requires more than just information—it demands a transformation of mindset, habits, and daily practices. These ten books provide complementary perspectives on wealth creation, from psychological foundations to practical strategies.
The common threads include developing passive income streams, controlling expenses, continuous self-education, and adopting the mental patterns of the already wealthy. Financial freedom comes not from a breakthrough but from consistently applying proven principles.
As Kiyosaki states, “It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” The question isn’t whether you can afford these books—it’s whether you can afford not to read them.