Top Books to Master the Art of Passive Income
Early retirement and financial security are things that everybody dreams of. And it's not impossible to achieve. Wealth building and money management take some time to master, but you can do it all with the help of passive income books.
If you want to learn how to make the most out of passive income opportunities, you've come to the right place. Let us walk you through the top passive income books to help you create passive income for a secure financial future!
Why Read Books on Passive Income?
Although online resources or a seasoned financial advisor can provide valuable information about passive income, there are several reasons why books are a valuable resource when learning how to start generating income and escape the rat race.
- Structured learning: Books on passive income are often written in a well-structured and organized way. They provide a comprehensive guide to the topic, starting from basics and gradually delving into more advanced concepts and practical strategies.
- In-depth knowledge: The authors of the books often have the space to explore topics thoroughly, providing readers with a deeper understanding of passive income strategies, investment principles, and financial concepts.
- Credibility and trustworthiness: A book written by a well-known expert, a seasoned investor, or a successful entrepreneur tends to carry a certain level of credibility and trustworthiness.
- Time-tested wisdom: Books often include a lot of timeless wisdom that has proven effective over the years. Although the information you'll find online may be more up-to-date, books offer a historical perspective and practical tips that have stood the test of time.
- Avoiding information overload: The online world is giant, and searching for information online can be overwhelming. Books, however, supply a curated and focused exploration of the topic, which can help readers avoid feeling overwhelmed by too much information.
While both books and online resources have their merits, books can offer a more structured, comprehensive, and credible way to learn about passive income.
Choosing between books and online resources may depend on individual preferences and learning styles. Many people find combining both approaches is the most effective way to acquire knowledge about passive income. Experiment and see what you like best!
Criteria for Selecting the Best Passive Income Books
We live in a world where you can quickly access large amounts of information. And not all of that information is factually correct, credible, or useful for creating passive income streams. This is why you must be cautious about which books you read.
Here are some things you should look out for:
- The author's expertise: Does the author have first-hand experience with the topic they're writing about? If someone's writing a book about investment risk or dividend stocks, it’d be wise to ensure they have relevant investing experience or know how to survive bear markets.
- The publication year: Some passive income ideas and financial concepts haven't changed for the last few decades. But the world changes quickly, so it's essential to ensure that the ideas you're reading about are still timely and relevant enough to help you reach your financial goals.
- The reviews: Everybody wants to escape the rat race and build a million-dollar portfolio. Build wealth with books that have helped others in their journey of making passive income. Check out sites like Goodreads or Amazon for reviews from real people.
Top Passive Income Books
Let's get to the good stuff. Here's all the information about the best passive income books to achieve financial freedom. From real estate investing to generating passive income streams, all the information you need to achieve financial independence is right here!
The Millionaire Real Estate Investor: Anyone Can Do It – Not Everyone Will
- Year: 2005.
- Authors: Gary Keller, Dave Jenks, Jay Papasan.
- Rating on Goodreads: 4.25/5.
- Available on Amazon: Yes.
Published in 2005, The Millionaire Real Estate Investor: Anyone Can Do It – Not Everyone Will has remained one of the most notable books on building wealth from real estate in the last two decades!
Don’t worry – Gary Keller isn't like a grandpa retelling a story from his childhood but rather a heaven-sent guru. Whether you’re a novice investor or a complete beginner, this handbook has everything you need to start without complex terminology. It has all the tips and tricks you need, so you’ll learn from real (estate) pros!
Gary Keller is a renowned entrepreneur and founder of Keller Williams, a successful real estate company. His real estate business rakes up so many closed deals and units sold that it ranks as the second-best real estate company in the world! Being one of the most influential figures in the property-selling world, Keller is an excellent teacher to help you build a profitable passive income stream.
Were you born around the 2000s when The Millionaire Real Estate Investor was published? You might like to read up on the different spending and saving habits of you, your parents, and your grandparents!
Rich Dad’s Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!
- Year: 2000.
- Author: Robert Kiyosaki
- Rating on Goodreads: 4.01.
- Available on Amazon: Yes.
If you haven’t heard about the iconic Robert Kiyosaki and his book Rich Dad Poor Dad, here’s a great introduction to achieving financial freedom. If your dad never taught you how to earn passive income, Kiyosaki will fill in the gaps on the power of passive income!
Rich Dad’s Guide to Investing teaches you everything you need to know about becoming an active investor who generates passive income. Don’t know about investment risks? Kiyosaki has you covered. Don’t know what to do with earned profit? Kiyosaki says to reinvest it!
The author is a great teacher to every age group with different backgrounds. He understands the everyday struggle to make ends meet and, best of all, offers a solution to escape this toxic cycle. Yes, living paycheck to paycheck is a red flag, but Rich Dad’s Guide to Investing is undoubtedly a green flag to change your financial destiny!
The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing!
- Year: 2015.
- Author: Brandon Turner.
- Rating on Goodreads: 4.4/5.
- Available on Amazon: Yes.
Have you ever wondered how people make six figures by owning an AirBnB? Do you want to achieve such freedom in your financial future? Brandon Turner reveals all of the rental property secrets in a 400-page handbook!
It offers insights and a fast-track strategy for building wealth through renting an apartment. You’ve probably heard people say it’s good to learn from your mistakes, but it’s even better to learn from others’ oversights.
The Book on Rental Property Investing provides you with a list of common investing mistakes and the best ways to avoid them for building wealth that lasts – quite literally – a lifetime. This book is excellent because Turner considers new investors with small amounts of available cash. We agree that buying a fancy Parisian rental is far-fetched for a regular 9 to 5 employee.
But Turner proves us wrong! He provides clever ways of acquiring your future AirBnB apartment and creating wealth that can support you financially for years to come.
Financial Freedom with Real Estate Investing: The Blueprint To Quitting Your Job With Real Estate – Even Without Experience Or Cash
- Year: 2018.
- Author: Michael Blank.
- Rating on Goodreads: 4.2/5.
- Available on Amazon: Yes.
Do you still think real estate investments are out of reach? Do not worry; Michael Blank will give you more tips and tricks. Once you learn the basics about real estate investing by Gary Keller, look at this new(ish) book published in 2018 about achieving financial independence, even if you have yet to gain experience in this field.
The book focuses on the ultimate blueprint for investing in apartment buildings specifically. It takes you through every step of earning passive income from real estate. You’ll start with a strategy for raising money to get your first deal, tips on getting your offers accepted, and even ways to get the best proposals on the market.
Buying an entire apartment building seems surreal. Still, it’s worth it – imagine being the landlord you wished you had and earning the extra money that funds your extravagant lifestyle!
This is one of the best profitable business ideas to date. Blank helps countless people start their journey in real estate investment. Even if you don’t own the whole apartment complex, use the advice for your Parisian AirBnB rental.
Are you interested in other ways to make money work for you without buying real estate or rental property investing? Honeygain shares some tips on budgeting and investing while inflation is raging on.
Affiliate Program Management: An Hour a Day
- Year: 2011.
- Author: Evgenii Prussakov.
- Rating on Goodreads: 4.06/5.
- Available on Amazon: Yes.
You’ve probably heard about affiliate marketing programs and people building amazingly profitable online businesses. The gist of affiliate marketing is you promote a business and get paid for each new customer you attract. Pretty simple, right?
Prussakov offers us a glimpse at how these affiliate marketing programs come to life to create freedom for you. It’s the perfect way to upgrade the marketing techniques of your online business.
If you’re not a business owner, you can still find practical tips on becoming a rockstar in affiliate marketing. Ready for your show? Read about the market research, payment models, and recruitment process for affiliates.
Those secrets will serve you well when you start earning money to achieve that financial independence. Perhaps you’ll be tempted to start an online business that offers affiliate marketing programs and builds incredible wealth in the long run. The world is your oyster (or stage, whichever you prefer), so have fun earning money online!
The 40-Hour Work Week: Escape the 9-5, Live Anywhere, and Join the New Rich
- Year: 2007.
- Author: Tim Ferriss.
- Rating on Goodreads: 3.9/5.
- Available on Amazon: Yes.
Life can be like the movies – swinging in a hammock under a palm tree with a laptop overseeing your income streams as you sip a virgin margarita. Tim Ferriss probably prefers skiing in the Andes, but he’s the right man to come for advice on how to get your palm trees and hammock. The 40-Hour Work Week is an excellent handbook with a comprehensive guide to achieving a luxury lifestyle.
Ferriss shares his journey from earning $40,000 annually in his corporate job to making a monthly five-figure income. Yes, you read that right. Ferriss is an excellent example of the New Rich who optimize their time and mobility to build passive income streams to achieve their financial goals.
The fascinating thing about this book is the writing style. Ferriss perfectly portrays his unconventional ways of making money and building multiple streams of income. He covers topics like eliminating 50% of your work in two days – a technique some forgotten Italian economist suggested. And that’s not even the craziest thing you can learn from this book!
It’s one of the best books on passive income you can find. It has enough extravaganza and humor to keep you entertained and help you build passive revenue streams.
The Science of Getting Rich
- Year: 2007.
- Author: Wallace D. Wattles.
- Rating on Goodreads: 4.1/5.
- Available on Amazon: Yes.
While the book doesn’t teach you strategies for building passive income streams, it dramatically impacts people’s understanding of wealth creation. Wattles studied the works of renowned philosophers and put together a comprehensive guide for his readers.
Not everyone can sit around and ponder on what Diogenes, the Greek philosopher, had in mind when he lived in a barrel. Many people believe that the man was strapped for cash and anti-social.
At the same time, some believe he predicted our generation’s housing trends – studio apartments. Wattles spares us the trouble of understanding such thinkers. Instead, he gives his readers an easy-to-digest information package on transforming our worldview to build wealth.
Many of us are no strangers to self-doubt when achieving financial success. The Science of Getting Rich gives you a beautiful eye-opener on what it means to be wealthy and financially independent. You can reach any goal with the right mindset, even if you want to retire early and earn financial independence.
Click Millionaires: Work Less, Live More with an Internet Business You Love
- Year: 2012.
- Author: Scott Fox.
- Rating on Goodreads: 3.6/5.
- Available on Amazon: Yes.
Click Millionaires is a staple for anyone wishing to start a business and make money online. It often lands on every list of the best passive income books.
The book was published in 2012 and changed hundreds of people’s lives in a decade. Some of the information might be outdated because let’s be honest – the internet rules change weekly. Still, it covers the practical advice you need to know before launching your business and earning passive income online.
Fox provides his readers with different case studies of corporate workers turned into business owners. Suppose these regular people trade the outdated “American dream” with cramped offices for online businesses, bringing in more profit. Why can’t you do the same? Everyone can start generating passive income with proper dedication.
Another great thing about Click Millionaires is that it helps you identify the niche you love. What do you want your future to look like in a year? If you’re having trouble imagining yourself financially successful, read Wattles’ The Science of Getting Rich, then Click Millionaires.
Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence (& how to get started!)
- Year: 2019.
- Author: Rachel Richards.
- Rating on Goodreads: 4.01/5.
- Available on Amazon: Yes.
If your goal in life is to retire early, you’ll love this book. Rachel Richards is a renowned financial guru whose goal is to teach you everything you need to know about making money and achieving financial freedom through passive income streams.
The best part about Passive Income, Aggressive Retirement, is that it shows you a way to get a generous cash flow from investing without aggressively saving every penny. It’s a great guide on the different ways to make passive income and become one of the few people who have the financial freedom to do everything you want.
Start Making Passive Income Today
The list is just the tip of the iceberg for the best passive income books that offer practical advice to help create multiple passive income streams to build wealth. You must start earning money and creating passive income streams to achieve financial freedom.
Countless money-making opportunities await you, from rental property investing to starting an online business. The recommended list of books can spark some cash flow ideas you can try.
If you’re looking for an effortless way to make money online, you’re in luck! You now have various ideas on making money work for you, so join Honeygain to add one more cash flow toward your financial freedom.
Download the app now and collect a $2 gift upon signing up to help you get started!