Buffett and Munger didn’t just invest—they read. Discover why books are still the most powerful tool for Millennials and Gen Z building wealth today.
“Reading is like having lunch with the smartest people who ever lived.”
— Charlie Munger
If you want to get rich, start by opening a book.
That might sound old-fashioned in the age of TikTok finance—but here’s the truth:
The most successful investors in history were readers first.
At the 2025 Berkshire Hathaway meeting, Warren Buffett and Charlie Munger didn’t talk about the hottest stock or trend. They talked about reading.
Buffett spends up to 80% of his day with books and reports. Munger once said,
“I’ve had lunch with everyone—I read their books.”
For them, reading isn’t a hobby.
It’s a competitive edge.
1. Books Build Better Investors
A 2024 study by the CFA Institute found that investors who read long-form material—like books and shareholder letters—outperformed those who relied on headlines or social media【CFA Institute, 2024】.
Why? Books train your mind to think long-term.
They sharpen focus, increase patience, and help you see through noise—exactly the qualities smart investing requires.
Would you trust someone who gets stock tips from Reddit—or someone who’s read Benjamin Graham, Howard Marks, and John Bogle?
Books slow you down—in the best way possible.
2. Learn from the Billionaires
When I first got serious about money, I realized something uncomfortable:
I didn’t know anyone rich.
So I did the next best thing—I read what the rich wrote.
That became my rule:
Learn from those who’ve done it.
Not influencers. Real builders. Investors who’ve actually won the game.
I read The Psychology of Money by Morgan Housel. Then Principles by Ray Dalio. Then Poor Charlie’s Almanack.
And I started seeing patterns:
Patience > Prediction. Simplicity > Complexity. Long-term > Short-term.
Books gave me access to rooms I could never walk into.
Reading became a way to sit next to Buffett and Munger—without an invitation.
Here’s a personal story: I once read that lunch with Warren Buffett cost $250,000. I was stunned. But he donated the money to charity. Back then, I wondered: would I ever be in a position to do that? Now, I’d say yes. Because having lunch with a mind like Buffett’s is worth more than the check.
3. Reading Is the Cheapest Mentor
You don’t need a finance degree to build wealth.
You need a library card. Or a Kindle. Or the Audible app.
Here’s what worked for me:
One book per month – I started with 12 a year. It rewired my thinking.
10 pages in the morning – Before email or social, I read something that clarified my thinking.
Re-read the greats – Some books are worth five reads. Especially those that challenge your ego.
Waiting in line? Riding the subway? Those are perfect moments to chip away at a book.
According to Pew Research, only 23% of U.S. adults read a nonfiction book last year【Pew Research, 2024】.
In a world where most people don’t read? That’s your edge.
4. Action Over Absorption
Reading alone isn’t enough. You have to act.
Charlie Munger didn’t read for entertainment. He read to make better bets.
So when you find a great idea, write it down.
Apply it. Reflect. Make it a strategy.
Here’s one thing I did after reading I Will Teach You to Be Rich by Ramit Sethi:
I automated savings using split direct deposit through work. That one tip helped me save over $5,000 in a year—no budgeting apps needed.
In the Next Post
This post was inspired by Buffett and Munger’s lifelong habit of reading.
They didn’t chase headlines—they quietly compounded wisdom, one book at a time.
In the next post,
we’ll explore another lesson from Buffett’s farewell speech:
“Let go fast, hold tight later.”
We’ll talk about the power of timing—how knowing when to walk away and when to double down can shape your financial and personal breakthroughs.
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