Top 5 Books On Wealth Creation: These Five Books Will Transform Your Finances!!

Josiah Nang-Bayi, MD
9 Min Read

Books on wealth creation became a life passion for me in 2016, shortly after I ventured into the wild network marketing industry. From the time Adam Smith stunned the world with his bestseller, An Inquiry Into The Nature and Causes Of The Wealth Of Nations, there have been innumerable books written on wealth creation.

Undeniably there are so many great transformative books,  however, there are a few books that have stood out and made waves over the past two centuries. Today I am going to share with you my top five books on wealth creation written within the 19th and 20th centuries.

One: The Richest Man in Babylon

Written in 1926 by George S. Clason, this book is arguably the greatest and most practical book on wealth creation. It employs the story of Arkad, a man from the most humble beginnings, to teach practical money management and wealth creation wisdom. This book will take you from ground zero to effective saving, investing, and managing your profit to grow abundant wealth. You can find a summary of the top lessons HERE

2. Rich Dad, Poor Dad

This book was released by one of the most credible and erudite financial educators of our time, Robert Kiyosaki, in 1997. Using the opposing guidance received from his “Poor Dad” (real father, a professional employee) and his “Rich Dad” (a friend’s wealthy business father), Robert reveals a proven understanding of building sustainable wealth through financial literacy, understanding the four income types and their interconnection, and investing in assets vs liabilities. There is a comprehensive summary of the book HERE.

3. The Psychology of Money

Morgan Housel did a solid on this 2020 publication. Using 19 different stories of people across decades he reveals that our ability to efficiently manage money and grow it desirably is affected more by how we think and behave based on our previous experiences with money, and not the knowledge or facts we learn. This book by far is one of the best books you will ever read. Not only has he unveiled the above discovery, but he has also given a practicable guide on how to retrain your mind in alignment with current proven concepts and ways of creating sustainable wealth. The chief lessons of this book have been outlined HERE.

4. Think And Grow Rich

One of the best of all time books on wealth creation, this book was written by Napoleon Hill and Rosa Lee Beeland in 1937. Almost a century later this book is still functional and proves beneficial to anyone seeking financial freedom. The book stipulates that as much as mindset and a positive mental approach are essential to success, you cannot just wish your way to abundance. Your desires must be accompanied by strategic action plans, tenacity, perseverance, and acceptance that intermittent failures are a part of the process. HERE is a summary of the book.

5. The Millionaire Next Door.

Thomas J. Stanley and Willaim D. Danko’s 1996 release, The Millionaire Next Door, is a result of compiled research findings on the secrets and habits of America’s wealthiest individuals. Comparing two groups they intuitively named Under Accumulators of Wealth (UAWs) vs Prodigious Accumulators of Wealth (PAWs), they revealed why millionaires exist more within the middle-class, blue-collar groups than the seemingly affluent white-collar class. As usual, I leave you with a summary Here.

What you should do next..

First, do well to visit the links containing the summary of each of these books as provided above.

Next, dedicate the next five months to studying or restudy these five books religiously and apply the lessons learned to make an impact on your own finances

I decided to give you two special bonuses in this article

Bonus #1: List of Top Ten Authors On The Wealth Creation as follows:

  1. Napoleon Hill: Author of the timeless classic “Think and Grow Rich
  2. Thomas J. Stanley: Co-author of “The Millionaire Next Door,”
  3. Robert Kiyosaki: Author of the best-selling “Rich Dad Poor Dad,”
  4. Dave Ramsey: Author of “The Total Money Makeover”
  5. Suze Orman: Author of “The Money Book for the Young, Fabulous & Broke”
  6. Ramit Sethi: Author of “I Will Teach You To Be Rich,”
  7. Tony Robbins: Author of “Awaken the Giant Within” and “Money: Master the Game,”
  8. Ray Dalio: Author of “Principles” and founder of Bridgewater Associates
  9. Morgan Housel: Author of “The Psychology of Money” and “The Coffeehouse Investor,”
  10. Tim Ferriss: Author of “The 4-Hour Workweek” and “Tools of Titans,”

Bonus #2: A summary of the key points in The Billionaire Next Door By Thomas J. Stanley.

The book challenges the traditional stereotypes of wealth accumulation and reveals the surprising reality of how ordinary people become millionaires. Contrary to popular belief, the authors argue that most millionaires are not flashy individuals flaunting their wealth but rather frugal and disciplined individuals who live well below their means and prioritize long-term financial planning over conspicuous consumption.

In the book, Thomas and William outline seven proven tips used by ordinary everyday people to subtly build wealth over

  1. Living below their means is the cornerstone of wealth accumulation. Millionaires prioritize saving and investing, steering clear of unnecessary debt and embracing a modest lifestyle that prioritizes experiences and relationships over material possessions.
  2. Efficient allocation of time, energy, and money characterizes millionaires. They maintain focus and discipline, directing resources towards activities that contribute to their financial goals while avoiding endeavors with no long-term benefits.
  3. Millionaires value financial independence over displaying high social status. Their motivation isn’t to impress others with their wealth but to prioritize financial security, content with a more modest lifestyle.
  4. Economic outpatient care was not provided by their parents. Millionaires typically hail from families emphasizing financial responsibility and hard work, instilling the value of money and financial planning from an early age.
  5. Millionaires aim for economically self-sufficient adult children. They instill financial responsibility and independence, encouraging their offspring to pursue passions and careers while providing guidance and support for financial self-sufficiency.
  6. Proficiency in targeting market opportunities is a hallmark of millionaires. They excel at identifying and capitalizing on profitable opportunities, engaging in thorough research, analysis, and careful planning before making investment decisions.
  7. Choosing the right occupation is crucial. Certain professions statistically produce more millionaires, but the book emphasizes that anyone, regardless of their profession, can build wealth by applying the outlined principles.

The book dispels common myths about wealth accumulation, including the notions that millionaires are born into wealth, inherit it, win the lottery, or lead extravagant lifestyles. It asserts that most millionaires are self-made individuals who achieve success through hard work, dedication, and adherence to sound financial principles.

Insights for building wealth include focusing on earning more than spending, developing a budget, consistent long-term investment, prompt debt repayment, seeking professional financial advice, creating multiple income streams, and educating oneself about personal finance.

While criticisms include a focus on frugality and limited representation of diverse paths to wealth, the book remains a valuable resource challenging traditional stereotypes. It offers practical advice for achieving financial freedom and building lasting wealth. The Millionaire Next Door is a thought-provoking guide providing insights and challenging conventional notions about wealth accumulation, offering practical advice for financial independence and informed decision-making. Whether starting the financial journey or well on the way to security, the book serves as a valuable resource for achieving financial goals.

Your friend in wealth creation…

Dr Josiah Nang-Bayi



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Josiah Nang-Bayi, MD is a medical doctor by profession, an author, a financial literacy and digital assets enthusiast, an entrepreneur and a growing philanthropist.
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