Book List: Money Books to Read to Build Wealth in 2023 – Business Insider

December 27, 2022 by No Comments

  • Insider asked real estate investors and money experts for their top book recommendations.
  • The list includes a classic written in the 1920s, “The Richest Man In Babylon.”
  • Another popular choice among real estate investors specifically is “Rich Dad Poor Dad.”

Personal finance books can be a helpful tool if you’re looking to revamp your finances and build long-term wealth. 

But with so many options out there, selecting the right books to read is challenging.

To help you narrow down your search process, Insider spoke to successful real estate investors, “super savers” who set aside more than half their annual income, and finance professionals about the books that have helped get them to where they are today. 

Insider organized their book recommendations by category: saving, investing, and real estate.


“Set for Life” by Scott Trench

Scott Trench’s bestseller is a favorite among super savers, including Ali and Josh Lupo. The upstate New York-based couple managed to save the majority of their income to pay off over $100,000 worth of debt and are currently on track to retire before they turn 40.

Ali and Josh Lupo, founders of The FI Couple.

Courtesy of Ali and Josh Lupo

They used the strategies outlined in “Set for Life” to boost their savings rate, including one that was particularly effective: finding ways to cut back on “the big three” expenses, which include housing, transportation, and food.

“We’re conditioned to cut out the smallest expenses, like Netflix or coffee or dining out, but the author explains that, for most people, about 70% of expenses are housing, food, and transportation,” said Josh. “If you learn how to master those big expenses, it will free up a ton of money so you don’t have to stress about the small stuff.”

“The Richest Man In Babylon” by George S. Clason

“The Richest Man In Babylon” is a personal finance classic that was originally published in 1926.

Nearly a century later, author George Clason’s concepts remain relevant today, according to Ludomir Wanot, who read it on his way to achieving financial independence via smart savings and investing habits.

The book emphasizes the importance of setting aside at least a portion of your income for your future self — even if it’s just 10%, noted Wanot.

“There are so many articles about people saving 80% or 90% of their income, and people think they have to do that,” he said. “That’s not very realistic for the average American earning $40,000 or $50,000. What this book does is help people understand that if you just keep 10% for yourself, that can grow exponentially after just a few years.” 

“I Will Teach You to Be Rich” by Ramit Sethi

Before the Lupos paid off their debt and started saving the majority of their income, they weren’t excellent savers, they told Insider. 

It was Ramit Sethi’s popular money book that taught them how to be more intentional when it came to spending.

“This book does a great job of identifying the importance of spending money on your values,” said Josh. “It’s not about living a life of deprivation; it’s about being clear on what you value, spending comfortably on the things that bring you joy or fulfillment, and then cutting out everything else. For the author, it comes down to intentionality and that was a big turning point for us.”


“A Random Walk Down Wall Street” by Burton G. Malkiel

Richard Coffin, CFA and CFP, is a full-time investment analyst and part-time YouTuber whose channel helps over 615,000 subscribers understand the ins and outs of investing. 

The CFA and CFP has a handful of investing-related book recommendations, but one of his top choices is “A Random Walk Down Wall Street.” In addition to being an excellent investment guide, it explains the history of stock crashes, which he believes is key to understanding the investing world.

Investing analyst Richard Coffin makes YouTube videos on the side.

Courtesy of Richard Coffin

“It’s a big book but an easy read,” Coffin told Insider. “It does a really good job of painting how tricky and precarious the investing world can be, and advocating for a certain style of investing — passive investing — that has done really well for a lot of people.”

The Education of a Value Investor” by Guy Spier

Another one of Coffin’s top picks is “The Education of a Value Investor,” in which author Guy Spier explains the lessons he learned after meeting Warren Buffett. (Spier bid $650,100 at a charity lunch for the opportunity to meet the Oracle of Omaha.) 

“It talks more high-level in terms of your mental approach to investing,” said Coffin. “It’s an easy read and teaches a lot of good principles.”

“The Simple Path to Wealth” by J.L. Collins

Once the Lupos got their spending under control and paid down their debt, they used the principles outlined in “The Simple Path to Wealth” to shape their investing strategy and mindset. 

Collins’ book taught them that investing “doesn’t need to be nearly as complicated as people often think it is,” Ali told Insider. She and Josh use a Roth IRA and a taxable brokerage account to invest their money in index funds and exchange-traded funds (ETFs). 

The author also covers how to invest in a raging bull or bear market, and how to safely spend your wealth. 

Real estate 

“Retire on Real Estate” by Kai Anderson

Avery Heilbron, who achieved financial freedom before 30 partly thanks to his investment properties, says that “Retire on Real Estate” is what nudged him in the direction of buying property to build wealth. 

The author, Kai Anderson, is a real estate investor and landlord himself, and his guide includes everything from how to get started by either buying property or by converting your primary residence into a rental, to how to scale up and select smart investments.

Avery Heilbron has a variety of side projects, including investing in rental properties.

Courtesy of Avery Heilbron

If you want to build long-term wealth, “I think real estate is 100% the best thing,” Heilbron said. It requires time and patience, and some savings to get started, but if done correctly, “you can create cash flow, your properties will go up in value as long as you have a long-term view, and you get a lot of tax benefits.”

“Rich Dad Poor Dad” by Robert Kiyosaki

This classic by Robert Kiyosaki is a favorite among real estate investors and early retirees, including Mike Zuber, who was able to quit his day job in his 40s thanks to his lucrative real estate portfolio.

After losing nearly his entire nest egg to day trading stocks, Zuber decided to explore alternative ways to invest his money, so he went to a bookstore to look for investment books. He was drawn to “the only purple one on the shelf,” he told Insider, which was “Rich Dad Poor Dad.”

“I grabbed it and ended up reading it over and over, 10 to 15 times, just because it was so different from anything I’d ever read before,” he recalled.

The book introduced Zuber to the concept of “having money make money,” he said. “I’d never really had a conversation about how money works and how the rich get richer by owning assets.” 

Over the next two decades, Zuber gradually acquired assets and eventually started earning enough in rental income that he and his wife felt comfortable quitting their day jobs in their 40s. Today, he owns over 100 units in Fresno, California and those assets earn him over $100,0000 a month in rental income.


Leave a Comment

Your email address will not be published. Required fields are marked *