When it comes to personal finance, there’s no shortage of advice out there. Everyone seems to have an opinion—from that one cousin who swears by cryptocurrency to your neighbor who says you should never carry debt. But if you really want to get serious about mastering your finances, there’s nothing like turning to tried-and-true advice from some of the best minds in the business.
So, I’ve put together a list of five personal finance books I highly recommend and that will actually help you retire wealthy. Whether you’re just starting to think about retirement or are well into your golden years, these books offer timeless advice on building wealth and achieving financial independence. And hey, even if you’ve already read one or two, a little refresher never hurts!
1. Simple Wealth, Inevitable Wealth by Nick Murray
If you’ve ever chatted with me about investing, chances are I’ve mentioned the principles laid out in this book. Nick Murray presents what I think is one of the clearest, no-nonsense approaches to building wealth. His philosophy? Stay the course, invest wisely, and let the magic of compounding work in your favor.
Murray’s message is simple but profound: Wealth isn’t built overnight; it’s built over time by sticking with a consistent plan. He talks a lot about investor behavior—how the worst enemy of most portfolios is, well, the investor themselves! It’s easy to panic when markets dip or get overconfident when they rise, but Murray’s advice is to keep calm, stay disciplined, and not make rash decisions.
For retirees (or soon-to-be retirees), this book is especially valuable because it’s all about long-term thinking. Retirement is often a marathon, not a sprint, and Murray helps you see the bigger picture.
Takeaway: Wealth is inevitable for those who invest prudently and don’t let emotions drive their decisions. Patience, folks—it’s key!
2. The Total Money Makeover by Dave Ramsey
Ah, Dave Ramsey—the name that likely sparks debates at Thanksgiving. At least, it does in my household. Love him or not, his advice has helped countless people get out of debt and take control of their finances. If you’re looking for a book that lays out a step-by-step game plan for crushing debt and building wealth, The Total Money Makeover is a solid read.
Ramsey’s approach is tough love. He doesn’t sugarcoat things, and he’s not a fan of excuses. His famous “Baby Steps” are easy to understand but tough to execute without some serious discipline. He preaches living debt-free, avoiding credit cards like they’re kryptonite, and building wealth by paying yourself first.
Now, while I don’t necessarily agree with everything Ramsey says—especially when it comes to investing—his advice is pure gold for those who feel overwhelmed by debt. Plus, if you’re someone who thrives on having a structured plan, his “gazelle intensity” approach might just give you the kick in the pants you need.
Takeaway: If you want a debt-free life with financial peace, Ramsey’s no-nonsense, step-by-step method is hard to beat. Just be ready for some tough love.
3. The Millionaire Next Door by Thomas Stanley and William Danko
Have you ever wondered how that quiet neighbor down the street manages to retire early, travel the world, and still drive a 15-year-old car? The Millionaire Next Door answers that question and, spoiler alert, it’s not because they’re living on credit.
Stanley and Danko studied actual millionaires and found that most of them don’t live in flashy homes or drive luxury cars. Instead, they live well below their means, invest wisely, and avoid debt like the plague. These are your “under-the-radar” millionaires—people who have quietly amassed wealth by living simply and focusing on long-term financial goals.
For retirees, this book is a great reminder that wealth isn’t about how much you make; it’s about how much you save, invest, and preserve. The Millionaire Next Door champions frugality, financial discipline, and patience—key traits for anyone looking to build a comfortable retirement.
Takeaway: Want to be wealthy? Start by living below your means, investing wisely, and avoiding lifestyle inflation. You don’t have to look rich to be rich.
4. Think and Grow Rich by Napoleon Hill
Written back in 1937, Think and Grow Rich is a classic that has inspired generations of entrepreneurs and wealth-builders. Now, before you roll your eyes at the title—because I know it sounds like a cheesy infomercial—this book isn’t just about growing your bank account. It’s about mindset.
Hill studied the habits and attitudes of some of the wealthiest people of his time (we’re talking Henry Ford, Andrew Carnegie, and Thomas Edison) and came up with 13 principles for success. A lot of these are timeless gems, like the power of persistence, setting clear goals, and surrounding yourself with positive influences.
While it’s not specifically a personal finance book, Think and Grow Rich has plenty of lessons for retirees and those planning for the future. After all, achieving financial independence isn’t just about numbers—it’s about how you think, plan, and take action. Whether you’re planning an encore career or looking for ways to stay engaged and motivated in retirement, Hill’s principles are incredibly useful.
Takeaway: Your mindset is just as important as your money habits. Stay positive, set clear goals, and keep pushing toward financial independence.
5. The Automatic Millionaire by David Bach
This one’s a bit more modern but still packed with timeless advice. The Automatic Millionaire is all about making wealth-building…well, automatic. David Bach’s core message is that you don’t have to be a financial genius or make six figures to build wealth. You just need to make smart decisions consistently, like automating your savings and investments.
One of Bach’s most famous lessons is the “Latte Factor”—the idea that cutting out small, everyday expenses (like that daily coffee run) and redirecting that money into savings can make a huge difference over time. It’s a simple concept, but it really drives home the power of compounding and the importance of paying yourself first.
For retirees, The Automatic Millionaire is a great reminder that you can build (or continue building) wealth without making it feel like a full-time job. Automating your savings, sticking with a plan, and avoiding lifestyle creep are great strategies for anyone looking to enjoy a financially secure retirement.
Takeaway: Automate your savings, keep things simple, and let time and consistency do the rest. You don’t need to be a millionaire to become one.
Honorable Mention: Rich Dad Poor Dad by Robert Kiyosaki
No list of personal finance books would be complete without mentioning Rich Dad Poor Dad. This book is a classic, and it’s well-loved for a reason. Kiyosaki presents two contrasting perspectives on money—his “rich dad,” who embodies financial independence and entrepreneurship, and his “poor dad,” who represents traditional views on work and savings.
What I appreciate most about Rich Dad Poor Dad is its challenge to conventional thinking. It encourages readers to question the status quo and to think outside the box regarding wealth-building strategies. Kiyosaki emphasizes the importance of financial education, investing in assets, and creating passive income streams—ideas that are crucial for anyone looking to secure their financial future.
However, I include it as an Honorable Mention because I don’t believe the path laid out in the book is the most appropriate for the average person. While Kiyosaki’s lessons are valuable, his approach leans heavily toward entrepreneurship and high-risk investments, which may not resonate with everyone—especially those who prefer a more stable, traditional route to retirement. For many retirees and those within a decade of retirement, a more conservative, disciplined approach to saving and investing will likely be more suitable.
So, while Rich Dad Poor Dad can certainly spark some great conversations about wealth and mindset, I recommend pairing it with the other books on this list for a well-rounded view of personal finance.
Turning the Final Page
These five books each offer something a little different, but the overarching themes are universal: live below your means, invest for the long term, avoid unnecessary debt, and stay disciplined. Whether you’re planning for retirement, already retired, or just starting your financial journey, these books provide wisdom that can guide you toward financial independence.
And remember, while reading is great, it’s what you do with the knowledge that counts. You don’t have to follow every piece of advice to the letter, but taking actionable steps from these books can make a world of difference in your financial life.
As always, if you have questions about how any of these ideas apply to your specific situation—or if you’re looking for a retirement strategy that fits your goals—don’t hesitate to reach out. I’m here to help!
Note: I’ve included links to the books in this article, but these are NOT affiliate links. I will not be compensated in any way if you use these links, I simply wanted to make it easier for my readers to further research the books I have recommended.
This post is for education and entertainment purposes only. Nothing should be construed as investment, tax, or legal advice.