You are an aspiring millionaire – what kind of books should you read? Books are a great source to get into the thinking of highly successful people.
If you want to be a millionaire, learning from other millionaires – or even billionaires – is the best thing you can do.
Many of my followers on social media kept asking me what kind of books I read.
Until now, I was a bit hesitant to recommend any. Why? Because what you should read depends a lot on your current situation.
But I decided to share the 9 books that, I believe, will be valuable to any aspiring millionaire.
You will get an idea of how wealthy people think. How do they invest? What principles do they follow?
Knowledge is Power?
Usually, I read one book a week. Even when I’m traveling, I have books with me.
But, I personally don’t only read books – I use them. I read until I find three things that I can implement right away.
Most people make the mistake of collecting all this knowledge, but they never actually use it. You can know everything you need. However, if you don’t start implementing you will never see any results.
That’s why when people say that knowledge is power, that isn’t completely true. Applied knowledge is power. When you start using books you will start actually applying your knowledge.
In order to be better, you have to learn more. You might not agree with every single thing that these books teach – and that’s ok. Even if you don’t fully agree, you can still learn from it.
Below you can find the nine books I recommend every aspiring millionaire should read. What would happen if you implemented three learnings from each of these books?
1. Rich Dad Poor Dad by Robert Kiyosaki
Most aspiring millionaires have read this book or at least heard about it. It’s a very popular book on personal finance.
In this one, Robert talks about the differences between assets and liabilities. What does he say?
An asset is anything that puts money in your pocket. A liability, on the other hand, takes money out of your pocket. Simply put: Assets feed you and liabilities eat you.
Poor people have a lot of expenses. That’s why they stay poor.
Members of the middle class by things that they think are assets. They strive for more.
Rich people, they have assets. That’s why they are rich.
Did you know? According to studies, Americans think that you need about $2.3billion in net worth to feel wealthy. If they had a million dollars, 54% of Americans would buy a house and a car.
Robert Kiyosaki also talks about acquiring assets that produce cash flow. Then, you use that cash flow to fund your ideal lifestyle.
This book is valuable for aspiring millionaires as you want to avoid buying liabilities.
2. Principles by Ray Dalio
Ray Dalio is a self-made billionaire.
In his book, he gives the reader a framework on how to make better and more informed decisions. He teaches you critical thinking and how to be more self-aware.
Nowadays most people are looking for quick-fixes and gimmicks. They want to get rich fast.
The problem is, they forget about principles. Principles rarely change. They are what’s guiding our decision making processes.
I personally think that self-awareness is a key factor in becoming a millionaire. If you want to be wealthy, you have to know yourself.
Ultimately, all knowledge is self-knowledge. If you don’t know what to invest in or how to get started, it shows you lack self-awareness. You have to learn to know yourself.
When you are aware of yourself, you don’t need quick-fixes anymore. If you know yourself and your goals, you won’t question if you are on the right path. You act in synchronization with your principles.
If you haven’t developed self-awareness yet, it’s best to learn from others. That’s why I believe this book belongs on the reading list of every aspiring millionaire.
3. The Success System That Never Fails by William Clement Stone
Maybe you heard about the book “Think and Grow Rich” by Napoleon Hill. That’s also a phenomenal book every aspiring millionaire should read.
But, The Success System That Never Fails is just as critical – unfortunately, it’s far less popular.
William Clement Stone had a successful insurance company. He generated millions of dollars in revenue. He actually hired Napoleon Hill to be the sales trainer for his organization.
I think both of their books are valuable sources for aspiring millionaires.
The main point to take away from this book is the importance of your environment. How to structure your environment to support you instead of working against you.
It’s not only about your physical environment but also about who you surround yourself with.
What does that mean? Let me give an example.
I had this very interesting experience when one of the fish in my fish tank died. I had an expert come over and take a look at the tank. He told me the fish were infected.
I asked him if he would cure the fish. But here is what he said:
“You don’t cure the fish. You cure the water.”
This is a perfect metaphor for how your environment is influencing you. If your environment is making you “sick” you might have to change it. Maybe you need to move cities. Maybe some of your friends are actually not good for you.
You can’t become a millionaire if you’re in the wrong environment. That’s why you should read this book.
4. Unlock It by Dan Lok
Yes, this is my own new book. In this one, I collected some of the most important lessons I’ve learned in the last 20 years.
The subtitle is “The Master Key to Wealth, Success and Significance. In the book, I explain how you get to those.
Now, what does it mean to “unlock it?”
For some of you, it might be about unlocking the potential you know you have within you. Or to unlock the profits of your business. It could also be to unlock your income. It’s different for everybody.
Actually, this is the 15th book I wrote. Still, I see this book as my most important work. If you are a fan of mine, this is the book you should get.
5. Poor Charlie’s Almanack by Charlie Munger
You may know Warren Buffet – but you may or may not know Charlie Munger. The two are actually business partners.
This is one of the books I’ve read many, many times. Every time I come back to this book, I learn something new.
Most people forget 80% of what they learn. That’s why I advise you to revisit your favorite books from time to time. You will be surprised what you missed the first time.
You’ll learn about how to make good decisions and how to get good ideas. You’re also gonna learn how to look at the economy and how to invest. In fact, there is also a section on how to build a trillion-dollar company.
What’s interesting about this book, it actually was never advertised. Still, it generated thousands of sales through the website.
It’s a fascinating and powerful book for every aspiring millionaire.
6. The Richest Man in Babylon by George S. Clason
This is actually a short book that takes only one evening to finish.
You will learn some important fundamentals when it comes to money and investing. I’m talking about proven principles that actually work. They might not sound so exciting, they aren’t gimmicks or fast tricks.
But, I still use the principles of this book today because they haven’t changed for hundreds of years. They will probably stay the same in the next hundred years too.
The book talks about simple principles like:
Pay yourself first. Don’t spend more than you earn and invest the difference.
It sounds very simple, but most people forget about these teachings.
Every aspiring millionaire should absolutely know and develop those fundamental principles. So, you absolutely want to read this book.
7. The Little Book of Common Sense Investing by John C. Bogle
You see, nowadays, common sense isn’t so common anymore. What’s more, common sense doesn’t equal common practice.
On social media, everyone is chasing the gimmicks and the newest investment trends. Be it cryptocurrencies or Forex trading.
Social media is already influencing 71% of our buying decisions. It has also changed investment behavior.
A lot of people forget the fundamentals – stocks and real estate. Those two investment practices make the most millionaires.
When it comes to stock, it’s sometimes enough to put a little money aside and get great returns in the future. It’s not the only investment plan I recommend, but it’s great for low-cost index funds.
So, this book talks about how you could secure your financial future by putting a little bit of money aside. You make the power of compound interest work for you. In a longer period, this can make you a millionaire.
In the last two centuries, 90% of all millionaires have invested in real estate. So, for the average investor, real estate is a proven way to get wealthy.
Do you see why I recommend this book? As an aspiring millionaire, you want to know about proven investment strategies.
8. How To Be Rich by J. Paul Getty
J.Paul Getty is one of the richest men of our time. So, if you want to be a millionaire there is no better person to learn from.
This book is so interesting because it isn’t about how to get rich. It’s about how to BE rich.
I don’t want to spoil the surprises. If you want to learn how a self-made billionaire views money, life and family – read this book.
Now, do I agree with everything he talks about? – Probably not. I don’t agree with all his principles, but that doesn’t mean we can’t learn from him.
Even if you don’t agree with everything, that doesn’t mean you can’t learn from other people.
This book gives you a glimpse of how one of the richest men of our time thinks about things. That’s why it’s a book an aspiring millionaire should read.
9. The Latte Factor by David Bach and And John David Mann
The subtitle of this book is: “Why you don’t have to be rich to live rich.”
I actually had the privilege to have the author David Bach on my show – The Dan Lok Show.
This book talks about the key factors of financial freedom. It explains why you don’t need fancy techniques to achieve it. It also addresses why in some way we are richer than we think.
I love how some aspects David Bach talks about can easily be applied in your life. Sometimes in the form of your daily habits. I won’t give away what the latte factor is – read the book and you’ll know.
Again, this isn’t the only book you should read. I appreciate David Bach as a person. But that doesn’t mean I agree with everything it talks about.
Are You Ready To Unlock It?
Now, these are the nine books I believe every aspiring millionaire should read. You can take away powerful lessons from each one of them.
But those aren’t the only ones. There might be a chance that I recommend more books in the future.
For now, if you haven’t read my new book “ Unlock it” yet, I highly recommend looking into it. Maybe you want to unlock your financial confidence. Your inner potential. Your higher-self.
As I said, I regard this book as the most important work I’ve ever done and I’m proud to call it an international best-seller.
I poured everything I learned in over 20 years in business into this book. Get your master key to wealth, success and significance now.