In no particular order here are some books I’ve read which have taught me a great deal about financial management and investing. I don’t agree with everything written in all these titles, and certainly do not recommend some of the ideas presented in them. But I was able to take at least something useful out of each book and incorporate them into my life in one way or another 🙂
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
A compilation of study and research by two authors who interviewed people’s households exceeded one million dollars in net worth. It describes many common habits of the wealthy like taking on more financial risks, avoid buying status objects, and investing in their future. Best for: everyone.
The Wealthy Barber Returns by David Chilton
Dave shares his interesting perspectives on the world of money. The entire book is a collection of random thoughts, insights, commentary, and suggestions on personal finance. Topics covered include saving, spending, borrowing, and introduction to investing. Best for: personal finance beginners.
The Intelligent Investor by Benjamin Graham
Great book on value investing and how to analyse stocks and other securities. Well written, informative, and educational that covers investing basics as well as fundamental analysis, stock selection, and other subjects. Best for: Investors or those who want to learn about investing.
Think and Grow Rich by Napoleon Hill
A personal development and self-improvement book. The ideas in the book are inspired by a suggestion from business magnate and later-philanthropist Andrew Carnegie.
The Richest Man in Babylon by George Samuel Clason
Time tested financial stories from ancient Babylon. Through their experiences in business and managing household finance, the characters in the short tales learn simple lessons in financial wisdom. Best for: Novice investors and anyone who wants to learn more about personal savings and personal debt.
How to Win Friends and Influence People by Dale Carnegie
Financial success according to this author is due mostly to the ability to express ideas, to assume leadership, and arouse enthusiasm among other people. And this book will show you how.
Shell Shocked by John Stephenson
Investment ideas for Canadians. The book focuses mainly on oil, gold, and other commodities. It explains how the Canadian economy should benefit greatly in the future since a lot of the resources that will eventually be used by the world are located here. best for: Canadians and those with an intermediate level of understanding for personal finance.
Million Bucks by 30 by Alan Corey
The biography of how one person became a millionaire by 30 from working hard, living a frugal lifestyle, using extensive leverage, and investing in prime real estate. A big part of his success was getting exposure to the New York housing boom. Best for: Frugal individuals and personal finance beginners.
Rich Dad Poor Dad by Robert Kyosaki
A book that advocates financial independence and building wealth through stocks, real estate, and entrepreneurship. Explains the difference between business finance and personal finance. Best for: Personal finance beginners.
Stop Working: Here’s How You Can by Derek Foster
Good book about dividend investing. The author managed to retire early by simplifying his life and setting aside money regularly to buy stocks that grow their dividend over time. Best for: Beginning investors and anyone who is interested in dividend stocks.
Thieves of Bay Street by Bruce Livesey
Reveals the many ways investors are being swindled by the banks and other financial institutions. Has a great deal of insight into recent securities scams, corporate frauds and other white collar crimes in Canada. Provides motivation for a DIY investment approach because nobody cares more about your money than you. Best for: Investors and anyone who works in financial services.
One up on Wall Street by Peter Lynch
One of America’s most successful money manager tells how average investors can beat the pros by using what they know. By simply observing business developments and taking notice of everyday surroundings, such as the mall or the workplace, anyone can discover potentially successful companies before professional analysts do.
More to follow…