Yahoo Finance Grant Cardone: 6 Book Recommendations That Will Make You Rich
Grant Cardone is an American businessman, a private equity fund manager with $4 billion in assets under management, a real estate investor and author of several books on building and growing your wealth. Cardone credits other authors with helping him along his own wealth-building journey, and he recommends these books to others who are looking to build wealth themselves.
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Here are Cardone’s top picks for books that’ll help you become rich.
‘The Richest Man in Babylon’ by George S. Clason
Cardone is a fan of this book of parables about the importance of earning more than you spend and how to use the money to one day create wealth.
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“It’s a very simple book,” he told GOBankingRates. “The basic premise is, one, don’t spend more than you earn, and two, you have to invest money once you have it. You can’t just keep it and expect it to do anything. The golden goose is only valuable if it has golden eggs. Otherwise, it’s just a goose.”
‘The Problems of Work’ by L. Ron Hubbard
“This book is about why some people can produce so much through work and some [cannot],” Cardone said. “If you can’t produce, you can’t create wealth.”
Cardone said he has personally read this book four times.
“This book is about production,” he said. “It’s about how people stay engaged. It’s about hitting targets. It’s about being excited and passionate about your work — and how to get that and why people don’t have that.
“Those are the characteristics of all super successful, wealthy people,” Cardone continued. “Steve Jobs talked about his love for work. Elon Musk is at work 16 hours a day. Warren Buffett talks about reading, working and learning. Wealthy people are high producers, and this book is about increasing production.”
‘The Psychology of Money’ by Morgan Housel
Cardone said this is an excellent book for anyone who’s trying to understand how and why they perceive money the way they do.
“It’s going to show you where your limitations are — your blind spot with money,” he said.
Cardone said the book helped him realize his own limiting beliefs about money and wealth.
“I was influenced by a single mom who had no ability to get income,” he said. “Money is like a three-legged stool: there’s income, there’s preservation of the income and then there’s investing the income. My mother only knew one leg of the stool. My dad died and left life insurance, and the only thing she knew how to do was preserve income. She didn’t know how to get new money and she didn’t know how to invest it.
“So that’s my blind spot,” said Cardone. “My blind spot is to never overspend. It’s a weakness. Saving has never made a family wealthy.”
‘Nine-Figure Mindset’ by Brandon Dawson
This book validates through studies how to create wealth through the various breakpoints an individual or company encounters. During the wealth-building process, it’s typical to hit a wall at the $1 million, $3 million, $7 million and $15 million mark.
“Of all the companies in America, only 9% of them make more than a million dollars,” Cardone said. “They don’t even get through the first breakpoint. That’s what Brandon talks about in this book — how to move through breakpoints, whether you’re a household or a business.”
Bonus Pick: ‘The Millionaire Booklet’ by Grant Cardone
GOBankingRates asked Cardone to also share which of his own books he most recommends for building wealth, and he recommended starting with “The Millionaire Booklet.”
“It’s a little 38-page booklet that shows people how anyone can become a millionaire,” he said. “You can literally read this book in 12 minutes, and it’s a simple little book.”
Bonus Pick: ‘The Wealth Creation Formula’ by Grant Cardone
For a more in-depth breakdown of how to become rich, Cardone recommends “The Wealth Creation Formula.”
“It’s a really simple book about money traps, wealth and the phases of earning income to investing to getting the big payoff,” he said. “It breaks some of the myths of investing and earning.”
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This article originally appeared on GOBankingRates.com: Grant Cardone: 6 Book Recommendations That Will Make You Rich
