Our Best Investment Reads. They all recommend taking action on this. So take action.
Table of Contents
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
This book shatters the [eprception of America’s wealthy as big, flashy spenders. In fact, most millionaires are frugal, drive used cars, shop for bargains and look and live a lot like you.
That’s the premise of this book which gives the reader 7 common characteristics of these people.
Millionaire status is often depicted as impossible but the likehood is, it’s much closer than you realise.
Principles by Ray Dalio
Dalio’s memoir, a mix of personal history and business philosophy, details the rise of his fund Bridgewater Associates. He argues that your approach to business but also to life should all be systemized into rules and understood like machines, based around what you want to achieve.
Dalio believes that Principles are fundamental truths that serve as the foundations for behavior that gets you what you want out of life.
You need to have radical transparency in analysing why things happen to you and set your principles around your strengths, weaknesses and where you want to go in life.
Dalio’s book is heralded as a modern business masterpiece and is well worth taking in.
Rich Dad Poor Dad by Robert Kiyosaki
Kiyosaki’s conversation between his “two dads” forms a financial education – his own highly educated, but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend.
Kiyosaki uses the differences between these two figures to outline different attitudes towards money and employment. The lifelong monetary problems experienced by his traditonally employed “poor dad” are set in contrast to his “rich dad” who found ways to make money work for him.
The book is an advocate for real-world financial literacy that we’re often not taught in schools, based on the principles that income-generating assets provide healthier bottom-line results than even the best of traditional jobs and that you do not need to earn a high income to be rich.
The Intelligent Investor by Benjamin Graham
This book explains Graham’s philosophy of “value investing” which shields investors from substantial error and teaches them to develop long-term strategies.
Value investing is the preserve of Warren Buffet who calls this book, “By far the best book on investing ever written.”
If that recommendation doesn’t do it for you then we don’t know what to say.
The Essays of Warren Buffet
A collection of Buffett’s letters to the shareholders of Berkshire Hathaway written over the past few decades. These essays provide an amazing insight into the mind of an all-time financial titan, written in simple terms for the benefit of his customers.
If there’s one person to pick the brain of when it comes to finance, it’s Buffett. Here’s a direct line to his brain. Use it.
I Will Teach You To Be Rich by Ramit Sethi
A practical book based on the four pillars of personal finance – banking, saving, budgeting and investing – and the wealth-building ideas of personal entrepreneurship.
Sethi is an engaging presence and is a regular podcast guest. The SF Chronicle says “Don’t let the breezy irreverent style of this book fool you” as his sharp tongue and quick wit can be a bit off-putting if you’re not ready for it.
If you are, you’ll find no nonsense, immediately applicable financial advice and ways to think about building your personal wealth.
Thinking, Fast and Slow by Daniel Kahneman
Kahneman’s book explains the two ways we think. System 1 is fast and based on emotion; System 2 is slow and based on logic.
Although eminently qualified, Kahneman’s insights are backed up with statistical analysis and real world examples, based on years of study and his work with a variety of organisations.
The book also outlines the biases that a afflict us in both forms of thinking and heuristics with which to combat our own tendencies when it comes to making decisions.
Despite the statistics, this is a fun read due to the author’s strong voice and Thinking, Fast and Slow will transform the way you think about thinking.
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