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Memphis Real Estate Investing

4 min read

6 Great Wealth-Building Books to Read in 2020

Wed, Feb 12, 2020

booksrecommendations-financialgrowth-moneymanagementAre you continuing your education? For the investor and wealth-builder, the continual growth of your financial know-how is invaluable. While we’re a huge advocate of using podcasts to further your education in bite-sized pieces, nothing beats a great print resource. 

We’ve recommended books before and not exclusively real estate investment-related. In fact, investors can benefit from a wide variety of books across topics and genres. Today, we’re focusing on wealth-building and personal finance. To succeed in real estate investment, we all need a solid foundation. 

After all, you can only build wealth effectively if you have the right mindset and a solid strategy. How do you get these? From consulting professionals in combination with your own self-improvement efforts.

With that said, here are some new(er) books we recommend you pick up this year.

6 Standout Wealth-Building Books for 2020

For a Financial Roadmap: What the Wealth? By Jonathan Bednar

It’s easy for us to idealize the process of building wealth. In reality, average families and professionals in this nation and around the world struggle to get a handle on their finances. How can you navigate conflicting opinions and advice surrounding money? Professional financial planner Jonathan Bednar breaks down the key concepts that make or break your ability to build wealth and manage your money effectively.

This is ground zero for those who feel frustrated and lost in their current financial situation. From budgeting and retirement to how to have productive (and peaceable) conversations about money with your family, “What the Wealth?” is an essential starting point.

For the Would-Be Millionaire: Thirty Something Millionaire by Cory Roberts

Thirty Something Millionaire is all about changing your mindset and unlocking your ability to build wealth where you are now. It doesn’t demand you have it all together, it doesn’t expect you to have great money management skills. Instead, this book is about taking what you have and making it something worthwhile. Not only that, but Cory forces readers to confront their personal relationship with money — and in turn, optimize it for financial growth. The key concept here is how to be “financially fit” so that you can fulfill your passions and reach your wealth goals...sooner rather than later.

For the Mind-Hacker: Understanding Behavioral BIA$ by Daniel Krawczyk & George Baxter

We all hold biases. Many times, these are unconscious. While most of us think of bias in terms of politics or people, bias exists in the financial world, too. While this book delves into neuroscience, it provides practical applications for financial decision-making. More than a cut-and-dry book of financial advice, Understanding Behavioral BIA$ uncovers how personal behavioral bias impacts our financial life with investors especially in mind. In that understanding, we can better invest and maximize wealth.

For the Millennial: Don’t Save for Retirement by Daniel Ameduri

For decades, the mantra has been save for retirement. As the years go by, we see more and more why this strategy falls short. For millennials and other up-and-coming generations, traditional wisdom doesn’t always spell financial success. In this book, Daniel Ameduri, a self-made multi-millionaire, helps us discover not wealth strategies, but the underlying wealth philosophies that should guide our decision-making. For the next generation, Don’t Save for Retirement provides a practical and applicable financial path that fits the modern world.

For the Average Joe: Finance for Normal People by Meir Statman

If we’re honest with ourselves, most of us are normal people. We have jobs and families, worries and hopes. We’re average people who save, invest and hope we’re doing right by our families through our financial decisions. Finance can seem tricky. As the founder of behavioral finance, Meir Statman explores the emotions, motivations, and cognitive function of normal people living normal lives.

Then, he masterfully translates this into financial wisdom by pointing to how our behaviors impact habits of saving, spending, investing, and beating the market. 

For the Overwhelmed: Why Didn’t They Teach Me This in School? By Cary Siegel

The world of finance and investment is in constant flux. Many of us were thrown into adulthood woefully unprepared to manage our money. Author Cary Siegel tackles this issue in his book written with his children in mind: hoping to prepare them for success. He unpacks crucial financial principles that are often left out of required higher-education, making them accessible and understandable.

This is a quick and easy read,  unlike many books on finance. Whether you feel like you lacked the proper foundation or are looking to give a great resource to a graduate in your life, “Why Didn’t They Teach Me This in School?” fills in the financial gaps.

Books, articles, and podcasts can be an excellent source for information and personal growth — but they don’t beat having a real, live adviser who invests in your future alongside you.

At REI Nation, our investors leverage the experience and know-how of our teams and advisers to build their best financial future. Don’t wait — get started today.

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Chris Clothier
Written by Chris Clothier

Entrepreneur, writer, speaker, ultra-endurance athlete, husband & father of five beautiful children. Chris puts these natural talents on display every day. As a partner at Memphis Invest, Chris addresses small and large audiences of real estate investors and business professionals nationwide several times each year. Chris is also an active writer, weekly publishing real estate, leadership, and endurance training articles.

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