So You Want to Be a Millionaire

Check out these creative ways to save money!

Wealth begins in the mind and ends in the purse,” according to Dennis Kimbro, Ph.D., a faculty member at Clark Atlanta University’s School of Business and author of The Wealth Choice, Success Secrets of Black Millionaires. “If you want to earn more, you have to learn more,” he says. Kimbro, also co-author of the best-selling Think and Grow Rich: A Black Choice, spent seven years studying the behaviors and mindsets of the most successful Black millionaires. One common trait he discovered was a desire to learn new information.  “Affirming a commitment to wealth means becoming a student of wealth; you must learn the language of money,” he writes. We’ve compiled a list of books and resources recommended by wealth strategists to improve your financial literacy and, ultimately, your wealth factor.  

The Get-Your-Mind-Right Basics

THE TRUTH ABOUT MONEY
by Ric Edelman

WHY YOU NEED IT: Two words: Great advice. Edelman is a personal finance guru and a No. 1 New York Times best-selling author.  His seven books, including The Lies About Money, have made him one of the nation’s leading financial advisers.
WHAT YOU’LL GET FROM IT:  A practical, how-to financial planning manual covering everything from understanding why you may make bad money decisions to the ins and outs of retirement planning to using low-cost investments to generate wealth.

YOUR MONEY OR YOUR LIFE: 9 STEPS TO TRANSFORMING YOUR RELATIONSHIP WITH MONEY AND ACHIEVING FINANCIAL INDEPENDENCE
by Vicki Robin and Joe Dominguez

WHY YOU NEED IT: How you view, interact with and are fulfilled by money has everything to do with your financial decision making. This book takes a “total you” integrated approach to financial empowerment.
WHAT YOU’LL GET FROM IT: A new perspective and practical tips. The authors use real-life examples and resources to help you manage debt, increase savings and learn how to live well on less.

THE MONEY BOOK FOR FREELANCERS, PART-TIMERS AND THE SELF-EMPLOYED: THE ONLY PERSONAL FINANCE SYSTEM FOR PEOPLE WITH NOT-SO-REGULAR JOBS
by Joseph D’Agnese and Denise Kiernan


WHY YOU NEED IT: You don’t have a traditional 401(k), matching benefits or any of the usual financial planning perks of corporate employees.
WHAT YOU’LL GET FROM IT: A financial blueprint for the self-employed. This book walks independent contractors and freelancers through the basics of savings, managing invoices and money flow, the best retirement planning vehicles, planning for taxes and health insurance do’s and don’ts.

Step Up Your Game

INVESTING SUCCESS: HOW TO CONQUER 30 COSTLY MISTAKES & MULTIPLY YOUR WEALTH
by Lynnette Khalfani-Cox
 
WHY YOU NEED IT: You’re already on the way. Don’t let money mistakes derail your efforts to increase your wealth.
WHAT YOU’LL GET FROM IT: Straightforward advice on how to invest profitably in any market. This book also teaches you how to avoid or fix common mistakes.  

MILLIONAIRES’ CLUB: HOW TO START AND RUN YOUR OWN INVESTMENT CLUB AND MAKE YOUR MONEY GROW
by Carolyn M. Brown

WHY YOU NEED IT: You’re ready to invest in the stock market on your own.
WHAT YOU’LL GET FROM IT: The essentials for running an investment club in a simple and practical guide, including tips and resources on how to choose a broker and how to invest online.

THE WEALTH CHOICE: SUCCESS SECRETS OF BLACK MILLIONAIRES
by Dennis Kimbro

WHY YOU NEED IT: You want to be a millionaire.
WHAT YOU’LL GET FROM IT: Insight into the habits and secrets of the very wealthy. This book outlines seven laws of wealth based on seven years of surveying some of America’s top Black millionaires.  

For Women

WOMEN’S WORTH: FINDING YOUR FINANCIAL CONFIDENCE
by Eleanor Blayney, CFP

WHY YOU NEED IT: Women can have unique financial needs, especially since they live longer than men and often leave and re-enter the workforce during their careers.
WHAT YOU’LL GET FROM IT: A clear understanding of how women relate to money, easy exercises and advice on mastering the fundamentals of financial planning.