5 Best Books on how to Make Money
By Time Ferriss
Tim Ferriss wrote the book on passive income before it even had a name. This is book is equal parts entertaining and go-to advice on creating income streams. Who else can talk about product testing and argentine tango in the same book?
But just calling it a ‘passive income’ book would be an oversimplification. Through his many first-hand accounts, Tim Ferriss shows us exactly how to work smarter and not harder.
And we mean ‘exactly.’ This book gives you cut and paste formulas to deal with corporate chaos.
“Less Is Not Laziness. Doing less meaningless work, so that you can focus on things of greater personal importance, is NOT laziness. This is hard for most to accept, because our culture tends to reward personal sacrifice instead of personal productivity.”
What do you do? Tim Ferriss has trouble answering the question. Depending on when you ask this controversial Princeton University guest lecturer, he might answer: “I race motorcycles in Europe.” “I ski in the Andes.” “I scuba dive in Panama.” “I dance tango in Buenos Aires.” He has spent more than five years learning the secrets of the New Rich, a fast-growing subculture who has abandoned the “deferred-life plan” and instead mastered the new currencies-time and mobility-to create luxury lifestyles in the here and now. Whether you are an overworked employee or an entrepreneur trapped in your own business, this book is the compass for a new and revolutionary world.
The Bottom Line
Some of the ideas are on the extreme side, but this is not a ‘take it or leave it’ kind of deal. The full-fledged Tim Ferriss lifestyle is not for everyone. But you would be missing out if you didn’t take some of his lessons in optimization and apply them to your life.
We keep this book close by to use its lessons in inbox arbitrage and meeting minimization. However, there are some practices that are better left behind. For example, the delegation of dirty work to foreign virtual assistants is not something we’ll adopt now or in the future.
Maybe you are ready to join the globe-trotting digital entrepreneurs. In which case you can check out The Tim Ferris podcast among our podcast guide.
Click Here For THE ULTIMATE PODCAST GUIDE FOR 2020
Whatever the case, you will find this to be a quick and entertaining read, with no painfully long financial analysis to be had here.
But don’t just take our word for it.
“I can’t recommend this book enough. In fact, if the highest praise you can give a book is that you changed the way you do things because of it, then this book gets a great review.” – Ramit Sethi, I Will Teach You To Be Rich
Chris Guillebeau graces our list not once but twice. This first book is aptly named Side Hustle.
Maybe you don’t despise your job but you want some extra income.
One of the best parts about this book is that the ideas are all sustainable and simple to follow.
By sustainable we mean that you will still get a full night’s sleep and you won’t have to sacrifice yourself to the ‘side hustle gurus.’
This is an important distinction for two reasons. For starters, what is the point in earning extra income is it is sucking the ‘life’ out of your work-life balance? Also, if your side hustle is easy to do in your free time you will be more likely to enjoy it and therefore more likely to stick with it.
For some people, the thought of quitting their day job to pursue the entrepreneurial life is exhilarating. For many others, it’s terrifying. After all, a stable job that delivers a regular paycheck is a blessing. And not everyone has the means or the desire to take on the risks and responsibilities of working for themselves.
But what if we could quickly and easily create an additional stream of income without giving up the security of a full-time job? Enter the side hustle.
Is this the end all be all, the final word on the art of side-hustling? No. Is it a great place to start when you’re thinking about launching something on-the-side? Absolutely.
This book is full of resources and tools to get your business off the ground.
One resource mentioned throughout, is the side hustle school platform. Luckily, you don’t have to buy the book to take advantage of it. Chris has a daily podcast (yes, daily) all about side hustles.
You can even submit your own hustle questions to the man himself to possibly answer on the show. Who doesn’t love free expert advice?
Check out the show and other in our Ultimate podcast guide
By Scott Fox
Author, Scott Fox tells us that the stereotypical corner office american dream is no longer.
His third book, Click Millionaires, tells the story of a new American dream. That is building a “lifestyle business.” But this is not to be confused with the lifestyle blogs you see everyone you know starting. According to Fox:
“A lifestyle business is one where you prioritize lifestyle benefits over growth and profits.”
This book emphasizes the importance of being an expert in some niche in order to build a business. But you don’t have to be a traditional expert to gain a following. Fox categorizes experts into different categories. From PHDs to people just starting out, there is an “expert” that you can be in your chosen niche.
“Now, in this insightful and practical new book, Scott regales stories of dozens of “regular folks” who have reinvented themselves as Click Millionaires to show readers how to stop dreaming of a better life and start living it. With insights about how to combine outsourcing, software, and automated online marketing to build recurring revenues–while working less–Click Millionaires empowers weary corporate warriors and aspiring entrepreneurs to trade in the 9–5 jobs they hate for rewarding online businesses. You’ll learn how to find a lucrative niche on the internet that matches your interests and skills, choose an online business model, position yourself as an expert, build your audience, and design the lifestyle you want. The rules have changed. “
The Bottom Line
This book can give you a head start in designing a business around your life. I’ll admit being very skeptical of this book after reading the title. Will it make you a millionaire? Jury is still out. I will say that it is one of the more realistic ‘make money online’ type books. After all, what good are lofty claims if they are unattainable?
The emphasis on lifestyle design and more proven business models will (hopefully) steer people away from chasing down the newest e-commerce trend.
100 dollar startup
By Chris Guillebeau
The second Chris Guillebeau book joining us is The 100 Dollar Startup. As the same suggests, this book is focused on those who want to grow a business to be their full-time income. Unlike, side-hustle which focuses on businesses that can be managed well.. on the side!
Maybe you have taken the leap of faith already and are ready to grow your business. Chris emphasizes how to do exactly that but for less. Gone are the days where you need a hefty business loan to start up a company.
In preparing to write this book, Chris identified 1,500 individuals who have built businesses earning $50,000 or more from a modest investment (in many cases, $100 or less), and from that group he’s chosen to focus on the 50 most intriguing case studies. In nearly all cases, people with no special skills discovered aspects of their personal passions that could be monetized, and were able to restructure their lives in ways that gave them greater freedom and fulfillment.
The Bottom Line
We highly recommend giving this book a read If you are wanting to start a business but don’t think you can afford it.Or maybe you just don’t want to spend a fortune if you don’t need to! Either way this book can give you some options and ideas on how to get your very own 100 Dollar Startup off the ground.
The Book on Rental Property Investing
By Brandon Turner
This book lives up to the name. It is the book on rental property investing. If you are just starting out this book will give you the resources and knowledge to start looking for investments.
Why is this book included in this list?
Real estate investing is one of the most popular money-making vehicles and one that many people leverage to reach financial freedom. This is the point when many people dismiss the idea because they don’t think they have the money.
Luckily, if you have a stomach for more risk there are many avenues to attaining property with little up-front capital. So much that Turner created a whole book on the subject!
“Books have a way of changing the way you think, because you are spending so much time inside an author’s head. By reading this book, today, you are getting s glimpse inside my mind and learning how I think about real estate.”
Brandon Turner―active real estate investor, bestselling author, and co-host of the BiggerPockets Podcast―has one goal in mind: to help you find success and avoid the junk that pulls down so many wannabes. New and experienced investors alike will learn how to build an achievable plan, find incredible deals, analyze properties, build a team, finance rentals, and much more―everything you need to become a millionaire rental property investor.
The Bottom Line
If you have questions about researching, selecting, and purchasing a rental property this book will answer them. Turner also offers lots of resources throughout the book to use and how to go about finding resources like real-estate agents, property managers etc.
His transparency in this book is both rare and very appreciated. Turner walks you through exactly how he would look for and analyse different project that come across his desk. Most real-estate ‘experts’ will sell this information and brand it as some sort of secret they came up with.
There is also reference to free resources provided on the BiggerPocket’s blog. If you want to follow the real-estate investing world this is the place to start!