The Best (and Worst) Advice from 10+ Books on Wealth
Over the past few months, I’ve read more than ten books on wealth creation, entrepreneurship, productivity, and investing.
Some were eye-opening.
Others were… let’s just say, not worth the hype at all.
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| Photo by Morgan Housel on Unsplash |
This post is my attempt of a comparative literature analysis and to distill what really matters. I’ll compare the core ideas and call out what I didn’t find helpful and might not be worth reading.
If you’re building a business, investing in assets, or simply trying to design a life with more freedom: this is for you.
So, let’s grab a cup of coffee and get into it.
Wealth is built on leverage, learning & ownership
Let’s start with the big picture.
Books like The Almanack of Naval Ravikant, The Millionaire Fastlane, and Psychology of Money agree: wealth isn’t just about stacking cash. It’s about freedom. Freedom, in the sense that you truly own your time and can choose what to pursue.
Best advice
- Naval Ravikant (The Almanack of Naval Ravikant) says you need to learn two things: how to sell and how to build. Everything else is noise. It sounds harsh, but I’ve given it a long thought and I actually agree with this statement. There are great sellers and there are great engineers and creative minds, but if you want to be successful, you needs both skills - especially if you want to create a business.
- MJ DeMarco (The Millionaire Fastlane) pushes for building businesses that scale without you. Time and money must be uncoupled. This is his secrete sauce for generate wealth fast.
- Morgan Housel (The Psychology of Money) reminds us that being reasonable beats being perfectly rational, especially when it comes to money. Overall, “understatement” is the core lesson from his book. It’s not about chasing every new flashy idea. It’s about being rational, taking a slower (and more deliberate) path than someone like MJ DeMarco, and building wealth gradually but sustainably.
What I didn’t like
The Richest Man in Babylon felt outdated and oversimplified. It’s often recommended, but honestly, there are much better ways to spend your reading time.
Entrepreneurship
Entrepreneurship actually is the most mentioned way to create wealth. And different sources share a common thought: If you’re waiting for the perfect idea, timing, or skillset, you’re doing it wrong.
Million Dollar Weekend, The 4-Hour Workweek, and The 4-Hour-Startup agree on that: just start, validate early and scale smart.
Best advice
- Noah Kagan (Million Dollar Weekend): Validate your idea by asking for money. Not interest. Not feedback. Actual payment.
- Tim Ferriss (4-Hour Workweek): Build a “muse” (a business that runs without you). It might sound complicated, but, as Ferriss puts it, automation makes it possible. And with today’s AI tools, it’s even more achievable than ever.
- Felix Plötz (The 4-Hour-Startup): Creating a business doesn’t mean quitting your job right away. Felix Plötz explores the possibility of creating a small side-hustle you can grow into a major income-source. In his book he shares dozens of story from successful 4-Hour-Startups.
- Nicolas Cole (The Art and Business of Online Writing) writes about writing in the perspective of a business. The key insights are: Don’t start with a blog. Start on platforms like LinkedIn, Medium, or Twitter.Build credibility through consistency. Social media grows your audience. Email makes you money.
What’s outdated
Ferriss’s automation examples are.
Virtual assistants and info products were great in 2007. Today, we’ve got AI, no-code tools, and way more scalable options.
Investing: real estate vs. markets vs. business
While entrepreneurship is a powerful way to generate wealth, investing is how you preserve and grow it.
Yes, you can pour time and money into building a business and see great returns, but if you’re looking for a different path, or entrepreneurship isn’t your thing, investing offers a solid alternative.
But how to invest your hard earned money? Three books tackle investing from different angles:
- Robert Kiyosaki (Rich Dad Poor Dad): Invest in assets that generate cash flow like businesses, real estate and royalties.
- Clemens Bomsdorf (How to become rich like Norway) uses Norway’s sovereign wealth fund as his base-case: a globally diversified fund that is stable and can generate wealth long-term. He explores how a private person can copy Norway’s approach and also discusses the use of ETFs.
- Florian Roski (The 1x1 of the Real Rstate Millionaire): It is a very practical book if you think on inveting in real estate. He shares frameworks, checklists and formulas that support in evaluating rental properties.
Most practical tool
Roski’s real estate checklist and valuation method. It’s simple, actionable, and scalable.
What I’d challenge
Kiyosaki argues that your self-owned home is a liability and he’s not entirely wrong.
It doesn’t generate positive cash flow, which is a fair point.
But context matters.
Owning your home can save you rent, which effectively reduces your monthly expenses. So while it may not be an income-producing asset, it still contributes to financial stability. So in my opinion your home is an asset.
Recurring themes
| Theme | Best Books | Why It Matters |
|---|---|---|
| Leverage | The Almanack of Naval Ravikant, The Millionaire Fastlane, The 4-Hour Workweek | Use systems, media, and automation to scale. |
| Cashflow Focus | Rich Dad, Poor Dad, The 1x1 of the Real Estate Millionaire, Psychology of Money | Invest in assets that pay you regularly. |
| Start Fast | Million Dollar Weekend, The 4-Hour-Startup, The 4-Hour Workweek | Don’t wait. Validate early. Learn by doing. |
| Mindset & Ownership | The Almanack of Naval Ravikant, Psychology of Money, Millionaire Fastlane | Own your decisions. Think long-term. |
| Content & Authority | The Art and Business of Online Writing | Write online, build trust, monetize later. |
What to skip (or rethink)
- The Richest Man in Babylon: Too simplistic for today’s financial reality.
- Ferriss’s automation playbook: Needs an update. AI and modern SaaS tools are game changers.
- Kiyosaki’s binary view of assets vs. liabilities: Useful, but oversimplified.
What I’m doing differently now
- Weekly goal setting with accountability (thanks, Noah Kagan)
- Real estate evaluation using Roski’s checklist
- Content strategy based on Cole’s framework
- Business validation through actual payments, not just interest
Final thought
Reading is great. Applying is better.
These books can give you frameworks, tools, and motivation, but the real work happens when you take action. If you’re building wealth, launching a business, or writing online: start now, stay consistent, and use leverage wisely.