Yes, they are full of great “whatever you’re ranking”, but each list is also very limiting.
For instance, the famous Top Ten list. Good stuff, right? Of course.
But what about #11? So close to the top and yet left out in the cold.
Is #10 really that much better than #11? Probably not.
And yet one makes the list and the other is destined for obscurity.
College Football Woes
I’m writing this in November and as I do there’s plenty of debate about who makes the college football playoffs (which is limited to the top four teams).
The problem is that whoever ends up as #5 is out of the championship race.
And yet, could #5 win it all? Could #6 or #7? We will never know. Because if you’re not in the top four you might as well be unranked.
Ok, so maybe it’s not that bad, but you get the idea.
Top Money Books
I have the same issue with my list of The Only Five Money Books You’ll Ever Need.
Yes, they are great books.
Yes, if you forced me to pick five books to read in order to become wealthy, I’d list these five.
But that said, are these the only worthwhile money books to read?
Is there any sort of magic in only five?
What about the others that just missed the boat?
Other Great Money Books
In this post I’m going to list the next best books IMO that didn’t make my top five because:
- There are lots of great money books just out or coming out soon.
- This time of year is when people are thinking about resolutions and getting their money problems sorted out. These books can help.
- You may want a last minute Christmas present idea or a suggestion for spending Christmas gift money.
- The truth is, #6+ can be just as good (or better) than the top five based on the reader’s specific needs.
So with that said, here are some other great money books I would recommend to anyone:
- You know how I love interviewing and learning from millionaires so The Next Millionaire Next Door has to be on this list. It’s an update of my all-time favorite The Millionaire Next Door and just as powerful/useful. To get more book-specific thoughts from me, see The Next Millionaire Next Door.
- Just as good as the above is Everyday Millionaires, a book scheduled to come out soon. I’ll be posting on it several times after it’s released, but just let me say that 1) it’s the largest survey of millionaires ever and 2) it offers very practical advice — two things I LOVE!
- The Simple Path to Wealth could be (and probably is) a better version of The Bogleheads’ Guide to Investing (which made my top five list) so it has to be here. You can buy either of these two great investing books, follow what they say, and you’ll do very well.
- If you’re just starting out and wondering what to do to get your money straightened out The Total Money Makeover is perfect for you. Personal finance 101 IMO.
- I love Rich Habits – The Daily Success Habits of Wealthy Individuals. The reasons: 1) it’s a short book, 2) it’s an easy read, and 3) it’s filled with practical learnings from the wealthy. What’s not to love?
- Coming out early next year is a great book called Financial Freedom: A Proven Path to All the Money You Will Ever Need. I would consider this “The Millennial’s Guide to Wealth”. I’ll be posting on it a few times here, but wanted to include it now as it’s certainly worth this list.
- I’m a BIG believer in the power of a side hustle to help you achieve financial independence and the best book I’ve read on this topic is Side Hustle: From Idea to Income in 27 Days. I’m not so sure about the “27 days” part, but the book is full of thought-provoking, practical tips designed to help you start and develop a side hustle.
- I sometimes get asked what books I recommend for real estate investors. I always used to say Building Wealth One House at a Time but recently How to Invest in Real Estate: The Ultimate Beginner’s Guide to Getting Started came out and it’s equally impressive. I would recommend either one.
- I wondered whether or not to include The Automatic Millionaire in this list but I’m going to. The reason: it’s a classic and deserves recognition. The reason it might not be worth the read: it’s key point can be boiled down to a sentence — automate your finances and become wealthy.
- While not a typical money book, The Miracle Morning makes my list because it tells you how to achieve your goals by getting up early. I firmly believe that if you get up a bit earlier each day and work on your finances, you can become wealthy over time.
Those are the books I would add to my “best money books” list.
Are there any I missed that you would recommend?