The 9 Best Passive Income Books of All Time (2024)
Welcome to our Best Passive Income Books Collection. Discover top-rated books on how to make passive income, designed to help you build financial freedom and diversify your income streams.
The 4-Hour Workweek is about building a passive income business so we can escape the usual 40-hour workweek, and design our ideal lifestyle. Tim Ferris also shows how we can improve our productivity by following the 80/20 rule and a 'low information diet.'
"If you are insecure, guess what? The rest of the world is, too. Do not overestimate the competition and underestimate yourself. You are better than you think." —Tim Ferriss
Why should you read it? This book is practically the bible of the "digital nomad" movement, where some people figured out how to work from their laptop anywhere in the world. To most people it sounds like a complete fantasy: Imagine traveling the world, indulging your curiosity, all while your business runs itself. But Tim Ferriss shares many inspirational case studies of people who have done it successfully. It's kind of like finding out that unicorns are real—and they know how to code websites! This book has opened the eyes of countless people that a radically different, unconventional type of lifestyle is possible.
The Millionaire Fastlane is about getting wealthy and retiring in 10 years rather than 40 years. At first the title may sound unrealistic, but MJ DeMarco offers hard-earned business wisdom based on his success making millions of dollars after building a limousine booking website.
"Stop thinking about business in terms of your selfish desires, whether it's money, dreams or "do what you love." Instead, chase needs, problems, pain points, service deficiencies, and emotions." —MJ DeMarco
Why should you read it? Reading 'The Millionaire Fastlane' is like having an exhilarating chat over coffee with a funny friend who also happens to be your millionaire mentor. Half the time, you'll be cracking up; the other half, you'll be scribbling down money-making ideas. It's a compact blast of inspiration for anyone ready to speed up their entrepreneurial journey.
Rich Dad Poor Dad by Robert Kiyosaki explains what rich people know about finance, money, and investing. The author compares advice from his real father (Poor Dad), who was well-educated but always struggled financially, with advice from his best friend's father (Rich Dad), who had little formal education but was a very successful entrepreneur.
"The poor and the middle class work for money. The rich have money work for them." —Robert Kiyosaki
Why should you read it? This book shows you that making money isn't just about getting a paycheck—it's also about finding smart ways to make your money grow for you. Why is this book so popular? Because financial concepts are usually pretty boring, but Kiyosaki makes financial literacy fun by illustrating his ideas with the story of his childhood.
"The Richest Man in Babylon" by George S. Clason offers timeless financial wisdom through parables from ancient Babylon, focusing on principles such as saving 10% of your income, living within your means, and avoiding get-rich-quick schemes. The book champions the concept of "paying yourself first" by setting aside at least 10% of your income before paying any expenses.
"A part of all I earn is mine to keep." —George S. Clason
Why should you read it? After reading "The Richest Man in Babylon," the principle of "paying yourself first" truly resonated with me. This idea of automatically saving a portion of your income before anything else has shifted the way I manage my finances. It’s a small change that can make a huge difference in your financial journey. The stories, set in ancient times, brilliantly illustrate how such a simple habit can lead to lasting wealth and financial independence. <br /><br />The book’s advice is straightforward but powerful, teaching not just to save, but to actively invest in our future selves. It's inspiring to see how applicable these ancient principles are today, and I can't recommend this book enough to anyone looking to improve their financial health. It's kind of like hearing life lessons from a wise and wealthy grandfather, but with more camels. 🐪
The Simple Path to Wealth" by JL Collins offers straightforward advice on achieving financial independence through saving, investing, and avoiding debt. It simplifies complex financial concepts, advocating for investing in low-cost index funds and the importance of financial freedom.
"Stop thinking about what your money can buy. Start thinking about what your money can earn." —JL Collins
Why should you read it? Having read "The Simple Path to Wealth" by JL Collins, I've been enlightened on how straightforward building wealth can be. Collins demystifies investing and makes financial independence seem achievable, even for those who feel lost in the world of finance. His emphasis on low-cost index funds and living below your means resonated with me deeply. <br /><br />I recommend this book because it's more than just financial advice; it's a roadmap to a stress-free financial life. Whether you're just starting or looking to refine your financial strategy, this book is a beacon of clarity. Plus, this is Reddit’s #1 recommended personal finance book today. You can’t argue with the internet, right? 👽
$100M Offers by Alex Hormozi teaches business owners how to create irresistible offers that sell better and at higher prices. He explains how to increase revenue by raising the perceived value of your product or service, using strategies like premium pricing, risk-free guarantees, stacking, bonuses, scarcity, and exclusivity.
"The point of good writing is for the reader to understand. The point of good persuasion is for the prospect to feel understood." —Alex Hormozi
Why should you read it? At the heart of every business is the offer——what you're essentially saying is, "Hey, give me your money, and I'll give you something cool in return." This book is packed with many powerful strategies that will transform your approach to sales and pricing. The end result? To show you how to "make people an offer so good they would feel stupid saying no." Along the way, you'll enjoy Hormozi's communication style, which is direct, blunt, but often hilarious.
DotCom Secrets is a guide to building a successful online business using marketing funnels. Russel Brunson teaches how to grow an online audience with email marketing, multiply profits with "value ladders," and even provides exact scripts to create our own sales videos.
"One of the fundamental rules of marketing is that "a confused mind always says no."" —Russell Brunson
Why should you read it? Russell Brunson is the marketing brain behind the multi-million dollar software company ClickFunnels. In this book, he goes far beyond the basics, providing dozens of templates for effective sales funnels that can change the game for your online business. It's a must-read for anyone serious about digital marketing, and probably contains more useful info than most thousand-dollar courses.
"Traffic Secrets" by Russell Brunson is a guide to generating consistent traffic for your website and online business. It covers fundamental marketing strategies, including sales funnels, email marketing, and competitive research. The book also explains how to drive free traffic and run paid ads on platforms like YouTube, Google, Instagram, and Facebook.
"Being obsessed with your customer means understanding them just as well, if not better, than they understand themselves." —Russell Brunson
Why should you read it? You should definitely read "Traffic Secrets" because it makes getting traffic to your website simple, and that's a crucial ingredient for any online business. Based on his experience getting over 100,600 paying members to his ClickFunnels software, using traffic sources as diverse as Facebook Ads, Instagram posts, YouTube videos, Google SEO, affiliate marketing, and more.
"Million Dollar Weekend" by Noah Kagan is a step-by-step guide for entrepreneurs on how to launch a business in just 48 hours. It focuses on overcoming fears of failure and rejection, offering practical methods for generating ideas, validating them, and quickly acquiring paying customers.
"Small EXPERIMENTS, repeated over time, are the recipe for transformation in business, and life." —Noah Kagan
Why should you read it? You should read "Million Dollar Weekend" if you're serious about starting a business but find yourself stuck in the planning phase. Noah Kagan's approach is all about getting out of your own way, launching quickly, and learning from real-world feedback. The advice is straightforward, actionable, and designed to help you make tangible progress toward a successful business in a short time frame.