How to Become Wealthy

You need to read more nonfiction books. Sounds crazy right? I’m not even sure how I ended up reading this particular Business Insider article but it defiantly had a fascinating point to make. A man named Steve Siebold spent 30 years studying and interviewing 1,200 wealthy individuals. He wanted to know what they all had in common. He wanted to know, in essence, what was their secret sauce.

What he found was books, lots and lots of nonfiction books. Self education was the key ingredient he found when talking to these wealthy individuals. Not only that, he goes on to claim that seeking further higher education in the form of master and doctorate degrees is something the masses reach for but not something that the wealthy care about or have. To me this makes sense.

Let’s look at this statement in a different way. In higher education you learn from thinkers, people who sit around and theorize on the best way to do things. You not only spend tremendous amounts of money to hear their thoughts but most likely that money was borrowed. I’m a strong believer that debt of any kind is a bad idea. For every dollar you borrow, you loose numerous future dollars due to not only the interest you pay but also though the sacrifice of future growth.

A book on the other hand is an inexpensive educational resource that many times is written by doers. You can learn directly from those who’ve accomplished what you want to accomplish. You can avoid making their mistakes and hopefully become just as successful as they are without as many speed bumps. Also, there is no need for debt since books are usually inexpensive. Although, if you wanted to you could go into debt and buy thousands of doer books for the price of one semester of college education. But it would be nearly impossible for you to read all of those pages in just 4 months.

The last static found in the article came from Thomas Corley who wrote a book about the habits of the rich. He linked how much time you spend watching TV to how much wealth you have. He states that 67% of the rich spend less than an hour watching TV each day and only 23% of the poor do the same. This was defiantly a wake up call for me. When I’m not reading, I’m usually watching TV. I know that many weeks I spend way too much time watching TV. Improvement not perfection is a key theme on this blog and the article was defiantly enlightening. I know I need to spend less time watching TV and hopefully some good books will help me in that endeavor.

Anyways, to boil it all down, reading nonfiction books is good for you. Reading tabloids, fiction novels and watching TV is bad for you. You probably already knew this but just in case you didn’t, some really smart people have spent decades studying this very topic. Their conclusion was, read more nonfiction books. I never did like College, so I’m probably not the most unbiased source for an opinion but books can teach you a lot. That is probably the reason why they use them in College classes and also why you usually spend more time reading them than you do listening to your professor in the classroom. But why go into debt to read them? Read them on your own time, it is cheaper and just as effective. I don’t know if this statement is true or not but I did read somewhere that once you’ve read 12 books on any given subject, you are now an expert on that subject. I guess it is similar to an apple a day is good for your heath, so a book a day is good for your brain.

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