The personal finance landscape is awash with books written to help individuals decrease debt and attain wealth. With all the available options, it can be hard to figure out where to start. Whether you are a beginner or have some investing experience behind you, it won’t hurt to learn or refresh your investment strategies. The following books provide may serve as a starting point for new investors, an in-depth resource for serious investors or provide a new outlook for both groups.
Rich Dad Poor Dad What the Rich Teach Their Kids About Money – That The Poor And Middle Class Do Not! by Robert T. Kiyosaki:
Rich Dad Poor Dad remains a popular literary choice among those interested in personal finance. The book, which also provides investing information, tells the story of two dads – one rich and one poor. The two men have opposite approaches to finance, with one leaving millions to charity when he passes away while the other leaves bills. The author explains why some people, even those who are financially literate, do not incur wealth and gives broad tips to readers who want to be more like Rich Dad. A major takeaway from this book is to make your money work for you. Fans of this book include National Football League players Ryan Broyles and Richard Sherman, who both credit the book with changing their mindset about money.
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing by Burton Malkiel:
Burton Malkiel’s classic created for the serious investors. The main premise behind the book is that individuals cannot beat the stock market. Throughout the book, the author describes bubbles and crashes through history, including the stock market crash in 1929 and the dot-com bubble of the 1990s/2000s. He continues by walking through different types of analysis, how to value a company, and touches on behavioral finance. Following information on how the stock market behaves, this investor favorite provides a guide for how the reader can invest and tips for doing so.
Money: Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins:
Tony Robbins has written five books, four of which reached New York Times Bestseller status, including this book on the list. Many people see investing as scary or daunting, categorizing it as too complicated or confusing to undertake. Money is targeted to beginner level investors. Experienced investors may find issue with the basic advice provided, but for the aforementioned group of wary individuals, the book lays out the foundation to get started. Among the advice Robbins offers in Money are to invest in index funds, diversify investments, and to stay in the market for the long-term. He also offers well-known advice regarding fees: be aware of them and get the lowest ones you can. This book is a great choice for the starter investor looking for basic, simple knowledge before investing in the market.
Davenport Laroche is a leading shipping container investment agency based out of Hong Kong.