💎 Secret Talk Stories #1: The Hidden Reading Habit of Self-Made Millionaires and Billionaires
The Millionaire Reading Habit That Drives Financial Success
85% of millionaires and billionaires today are self-made. That means only a small fraction—just 15%—came from wealthy families with fortunes waiting for them. So, how did these financially successful people make it on their own? When asked about their path to wealth, one answer stands out above the rest: they read books. And not just occasionally. Many of these successful individuals read 50 books a year, or roughly one book per week.
This revelation raises several important questions. Why do they dedicate so much time to reading? What kinds of books are they reading? And most importantly, how can following this same habit help us achieve financial success?
Let’s dive into this lesser-known millionaire habit and see how reading specific types of books can be a powerful strategy in building wealth.
Why Reading Matters: The Connection Between Learning and Earning
There’s an old saying that captures a fundamental truth about personal and financial growth: “Learn more, earn more.” Self-made millionaires and billionaires are not just reading to pass the time; they’re reading to gain insights, acquire knowledge, and build skills that fuel their success. They understand that there is a direct connection between what you learn and what you earn. By investing time in learning, they’re giving themselves a consistent advantage in an ever-changing world.
Consider this: if you read just one book a week, you would complete 50 books in a year. That’s potentially 50 new ideas, insights, or strategies that could improve your thinking, increase your productivity, or help you make better decisions. But not all books are created equal, and wealthy individuals are particular about what they read.
What Types of Books Do Millionaires Read?
When asked about their reading choices, successful people consistently say they avoid fiction. “We don’t have time to waste,” they say. Fiction can be entertaining, but these individuals prioritize books with real-world applications. Instead, they focus on:
- Self-Help and Personal Development Books
- These books provide the strategies and frameworks that can directly improve productivity, resilience, and personal growth. Titles like Think and Grow Rich by Napoleon Hill and The 7 Habits of Highly Effective People by Stephen Covey are common favorites. Self-help books are like a shortcut to personal development, giving readers the tools to navigate challenges and seize opportunities.
- Business and Finance Books
- Understanding finance is critical to building wealth. Books like Rich Dad Poor Dad by Robert Kiyosaki and The Intelligent Investor by Benjamin Graham teach valuable financial literacy skills. They open readers’ eyes to principles of investing, saving, and business ownership—core elements of a millionaire’s toolkit.
- Biographies of Successful People
- Biographies of successful entrepreneurs and leaders offer more than inspiration. They reveal real struggles, strategic decisions, and the mindset that helped these individuals persevere. Reading about people like Warren Buffett, Oprah Winfrey, or Elon Musk gives insight into what it takes to make tough decisions and stay focused on long-term goals.
- Leadership and Strategy Books
- Books on leadership and strategy are essential for building the skills needed to manage teams, inspire others, and think critically. Books like Good to Great by Jim Collins and Start with Why by Simon Sinek give practical advice on building companies and leading people.
Why Self-Help Books Are Worth Millions
Self-made millionaires frequently share the belief that one good idea can be worth $1 million. In the world of personal development and self-help, this statement holds real value. Imagine reading a book that gives you an idea so impactful, it changes how you approach your goals, finances, or mindset. This could lead to a breakthrough, a promotion, or even a business idea.
Reading self-help books provides a direct path to personal growth by teaching readers to overcome challenges and stay resilient in the face of adversity. Instead of reading for entertainment, millionaires read with a purpose: to find those million-dollar ideas that can transform their lives.
The “One Book a Week” Habit: How to Get Started
Step 1: Prioritize Nonfiction Books with Real-Life Value
Begin with a list of well-regarded self-help, business, and financial books. Prioritize books that offer practical advice and strategies you can apply right away. Start small—commit to reading for just 20-30 minutes a day.
Step 2: Take Notes and Reflect on Each Book
Taking notes as you read will help you retain the information and think about how you can apply it. Reflect on what you’ve read each week and identify at least one actionable insight you can implement in your life or work.
Step 3: Create a Reading Routine
Millionaires often build a reading routine into their daily lives, whether it’s first thing in the morning or before bed. Consistency is key to making the “one book a week” habit stick.
Step 4: Seek Out Recommendations from Successful People
Look for books that successful people recommend. Many business leaders share their reading lists, so you can start with the books that have helped others achieve great things.
Millionaire Mindset
How Many Ideas Do You Need to Succeed?
One idea can be worth $1 million, but the more you read, the more ideas you’ll encounter. Successful people understand that all it takes is one transformative idea. And by reading widely in self-help, business, finance, and leadership, they’re actively searching for that next breakthrough idea.
Let’s break down the Millionaire Mindset in a few key points:
- Learning is an Investment – By reading, you’re investing in yourself. Each new book is an opportunity to grow and gain an advantage.
- Consistency Is Key – Reading a book a week may sound daunting, but with consistency, it becomes second nature.
- Focus on Practical Application – Don’t just read; apply what you learn. Use insights to improve your decisions, habits, and strategies.
- Search for Million-Dollar Ideas – One good idea could be all it takes. Millionaires know this, which is why they continue seeking out new information and ideas.
The Wealth-Building Power of Reading
In the end, 85% of millionaires and billionaires didn’t start out with money. They achieved their financial goals through dedication, strategy, and continual learning. Reading books regularly is one of the simplest yet most powerful habits they’ve cultivated. By choosing nonfiction and focusing on self-help, business, and personal development, they’re constantly improving their mindsets and expanding their knowledge.
If you want to start on your own journey to financial success, ask yourself: How many ideas do I need to succeed?
The truth is, sometimes all it takes is one. So why not begin today?
What You Can Do Right Now
Success doesn’t happen overnight, but with small steps, you can start cultivating a mindset that will help you grow. Begin by adding just one book a week to your routine, focusing on self-help, business, or personal development. Remember, each new book brings you closer to your next breakthrough idea.
Incorporating these powerful reading habits can place you on the path to financial growth and personal development. Get inspired, start reading, and see where the journey takes you. Let’s make it happen—one book, one week, one idea at a time.