In 2022, a study found that 56% of Americans have less than $1,000 in savings in the bank. It gets worse: Over half of those people don’t have enough money to cover a $1,000 expense at all. They’d have to borrow the money. That’s bad.
Unfortunately most people don't realize that their lack of funds are not due to their lack of salary, or lack of assets, but instead due to the lack of knowledge that they received. American High school's are not intended to teach you how to be wealthy. They teach you how to be a AVERAGE citizen. Books are not the same.
Books are written by people who have accomplished something and want to share their new found knowledge. I am and have never been a fan of reading. However I know that knowledge is essential to accomplish anything great. With that being said I read at least 15min EVERY SINGLE NIGHT. In the past years I have found these 10 books to be the most impactful and the ones that I think every person needs to read because of these three things:
- Practical advice. Money is a tangible thing, so whatever tips authors give should be easy to implement for you right away.
- Relevant information. Depending on your situation and goals, you might need a beginner’s book or a more advanced one.
- Inspiring stories. If a book is boring, it won’t motivate you to take action. The easiest way to change is to listen to a good story.
Based on these three criteria, I’ve selected the 10 best books for you to read. If you want to become savvy with your finances, be smarter in how you spend and save, and learn how to develop a winning mindset, consider these books.
Jake's Top 10 Books Overall
1. Rich Dad Poor Dad
Favorite Quote
“The main reason that over 90 percent of the American public struggles financially is because they play not to lose. They don’t play to win.” — Robert T. Kiyosaki
The Book in One Sentence
Rich Dad Poor Dad tells the story of a boy with two fathers, one rich, one poor, to help you develop the mindset and financial knowledge you need to build a life of wealth and freedom.
Why should you read it?
This book is controversial, but in getting you to actually do something, it just works. It’s based partially on Kiyosaki’s life, who learned two different ways of handling money from his dad and that of his best friend. The lessons are a mix of how to approach money as a concept, basic knowledge of accounting, budgeting, and investing, and how to manage your money so it works for you. By the time you’re done with the story, you’ll enjoy implementing the tips.
Key Takeaways
- Use your money to acquire assets, not liabilities.
- Manage risks instead of avoiding them.
- Work to learn, not to earn.
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2. How to Win Friends & Influence People
Favorite Quote
“It isn't what you have or who you are or where you are or what you are doing that makes you happy or unhappy. It is what you think about it." — Dale Carnegie
The Book in One Sentence
How to Win Friends & Influence People teaches you countless principles to become a likable person, handle your relationships well, win others over and help them change their behavior without being intrusive.
Why should you read it?
This self-help classic, published even one year before Think And Grow Rich, in 1936, has sold over 15 million copies throughout the 80 years it’s been in print.
This book has surely shaped behavioral psychology the way we know it today, as it reads like an instruction manual on how you can be more liked by others, get them to do favors for you and even change their behavior under your influence.
However, none of it is based on manipulation and deceit. Dale Carnegie does it all based on the core idea that you can change other people’s behavior simply by changing your own.
Key Takeaways
- You can make a great first impression just by smiling.
- To be interesting to others, talk about their favorite topic: themselves.
- If you want to convince people, get them to say yes a lot.
3. The Art of War
Favorite Quote
“Victorious warriors win first, and then go to war, while defeated warriors go to war and then seek to win.” — Sun Tzu
The Book in One Sentence
The Art of War has been considered the definitive text on military strategy and warfare ever since being written in ancient China around 500 BC, inspiring businesses, athletes, and of course generals to beat their opponents and competition the right way until today.
Why should you read it?
The reason it’s been so popular all around the world is that most of the lessons can be translated directly to other, competitive fields, like sports or business. In order to make it more actionable, we’ll look at it in a business context.
Key Takeaways
- Only enter battles you know you can win.
- Deceive your competition to make them do what you want.
- Lead your team as if you were leading a single man by the hand.
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4. The Way of the Superior Man
Favorite Quote
“Every moment waited is a moment wasted, and each wasted moment degrades your clarity of purpose.” — David Deida
The Book in One Sentence
The Way of the Superior Man is a guide for a specific kind of newly evolving man.
Why should you read it?
In today's western society and culture, men are becoming less and less like men. Instead of possessing that masculine feature that our ancestors had, men are pushed and even encouraged to embrace their feminine side. This book complete strips that down and shows a man what his optimal form is.
Key Takeaways
- Masculine and feminine are not equal.
- The key to a functional relationship is 2 separate roles.
- A superior man has his mission and must stay alined on his mission in order to truly be happy.
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5. Extreme Ownership
Favorite Quote
“Discipline equals freedom.” — Jacko Willink
The Book in One Sentence
Extreme Ownership contains useful leadership advice from two Navy SEALs who learned to stay strong, disciplined, and level-headed in high-stakes combat scenarios.
Why should you read it?
Jacko and Leif Babin will bring the management lessons of the battlefield right into your workplace. That means you don’t need to dodge bullets in another country to learn how combat experiences can help you become a better leader.
Key Takeaways
- A leader who takes responsibility for failure is vital to the success of a team.
- Pressure is inevitable as a leader, remaining calm and effective comes from establishing priorities and taking action.
- Managing risks before they pop up is a key attribute of great leaders.
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6. The 5 Levels of Leadership
Favorite Quote
“Nobody achieves anything great by giving the minimum. No teams win championships without taking sacrifices and giving their best.” — John C. Maxwell
The Book in One Sentence
The 5 Levels of Leadership will teach you how to lead others with lasting influence by focusing on your people instead of your position.
Why should you read it?
This book will teach you deeper truths about what makes a great leader. Maxwell’s five levels, or ladders, that a great leader must climb are: Position, Permission, Production, People Development, and Pinnacle. These steps will teach you how to go from the kind of manager your employees dread being around, to one that has an affect on their entire career and lives.
Key Takeaways
- Your management position means nothing to those you lead when compared to the power of your personality and values.
- Developing relationships of trust is one of the most important things you can do to have a long-term impact for good.
- To make the biggest difference in your company and the lives of your people, you must train others to be leaders themselves.
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7. The Millionaire Fastlane
Favorite Quote
“Many people want to change their life, but they are not willing to change their choices, and ultimately this changes nothing.” — MJ DeMarco
The Book in One Sentence
The Millionaire Fastlane points out what’s wrong with the old “get a degree, get a job, work hard, retire rich” model, defines wealth in a new way, and shows you the path to retiring young.
Why should you read it?
This book must have the world’s most misleading title. It’s not a get-rich-quick-scheme at all. Instead, it’s a story of persistence, boldness, risk-taking, and unconventional thinking. After seeing a man in a Lamborghini when he was a teenager, MJ DeMarco knew he wanted to be rich, but he didn’t want to slave away for 40 years to get there. After launching, selling, and re-buying his own company, he retired at age 33 as a multi-millionaire. An inspiring read!
Key Takeaways
- Wealth stands for 3 things — and money isn’t one of them: health, relationships, and freedom are what truly matters.
- At some point, you must make your income independent of your time.
- Think like a producer, not like a consumer.
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8. Think and Grow Rich
Favorite Quote
“The starting point of all achievement is desire. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.” — Napoleon Hill
The Book in One Sentence
Think and Grow Rich is a curation of the 13 most common habits of wealthy and successful people, distilled from studying over 500 individuals over the course of 20 years.
Why should you read it?
This might be the most popular book about success in the world. After steel magnate Andrew Carnegie himself put him on to the task, Napoleon Hill interviewed successful individuals for 20 years. The result, was published in 1937 and has sold 70 million copies. It’s a book about thinking, vision, and doing what it takes to succeed. If you’re a young entrepreneur, this is for you.
Key Takeaways
- Use autosuggestion to build an unshakeable belief in yourself.
- Be stubborn and always stick to your decisions.
- Join a Mastermind group to cut your learning curve.
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9. The 4 Hour Workweek
Favorite Quote
“Doing something unimportant well does not make it important.” — Tim Ferriss
The Book in One Sentence
The 4 Hour Workweek is the step-by-step blueprint to free yourself from the shackles of a corporate job, create a business to fund the lifestyle of your dreams, and live life like a millionaire, without actually having to be one.
Why should you read it?
Written more out of frustration, much less than for the love of writing, this book is Tim’s documentation of how he removed himself from his own company, in order to do what he loves: Learn and Travel.
Key Takeaways
- Be effective, not efficient.
- Validate all of your business ideas.
- Charge a premium to make your life easier.
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Favorite Quote
“Advice is one thing that is freely given away, but watch that you only take what is worth having.” — George S. Clason
The Book in One Sentence
The Richest Man In Babylon gives common-sense financial advice which you can apply today, told through tales and parables from the times of ancient Babylon.
Why should you read it?
George S. Clason, a soldier, businessman, and writer, was smart when he published this book in 1926. Instead of giving boring advice without any credibility, he wrapped his lessons into stories from the Babylonians. Generally believed to be an astonishing people, they lent George the power to transfer these lessons to us. The advice is as sound today as it was back then.
Key Takeaways
- Live below your means.
- Learn how to be lucky.
- Never take on debt.
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Conclusion
I've read hundreds of books, and in my opinion, these are the best books of all time to start mastering your life.
Whether you’re recovering from an unlucky turn of events, suffering from bad financial habits picked up in childhood, or just wanting to find improvement, after diving into these books, you’ll soon create a life dedicated to your improvement and self fulfillment.
Improve your financial knowledge, build your health, start saving and investing, and you’ll be well on your way to true freedom.
When it comes to taking control of your life, the most important part is to start today.
“An investment in knowledge pays the best interest.” – Benjamin Franklin