TurboMinivan
Still plays with cars
- Location
- Lehi, UT
Based on my investment thread, @spaggyroe decided to start a spinoff thread about the FIRE movement. In that thread, @Paul R said:
Based on that comment, I decided to start this spinoff thread. What books on finance/investing have you read that you would recommend to others? I spent 2020 reading a variety of books on the topic, so I already had the idea to start a thread like this. I thank Paul for motivating me to finally make it happen.
I, too, have read The Richest Man in Babylon and would recommend it. For those who haven't read it, its author takes the concepts of saving, investing, etc and presents them in a simplified story format. One fellow investor said this book ought to be standard bedtime reading for children everywhere, and I completely agree. Reading this book at a young age--or any age, actually--can plant the seeds to lead one to make good financial choices throughout their life. This book doesn't form an 'action plan' or give you any specific step-by-step instructions; instead, it simply helps you develop the underlying philosophy of financial responsibility.
MONEY: Master the Game by Tony Robbins. This is a big book. Tony is a motivational speaker, and you can tell--this book constantly tries to excite you through story after story on every topic, throughout every chapter. It is almost tiring to read, but it is chock full of excellent information. Unlike George Clason's book above, this one is filled with specific ideas and instructions on how to build a financial future for yourself and your family. Tony is a proponent of investing via index funds, and that's what this books primarily instructs you to do.
The Simple Path to Wealth by JL Collins. Almost ironically, this was the next book I read after Tony's book above. Overall, this one carries the same message... except it is much more concise. It is written in a very light, approachable style and is constantly sprinkled with humor throughout. This book came about when JL began writing a series of blog posts addressed to his young daughter, instructing her to avoid her father's financial mistakes in life and instead make good choices which lead to financial success. After a lot of prodding from various readers around the globe, JL gathered these posts, organized and expanded them, and released them in book form. And when this book's title says The Simple Path, it means it--JL is a big fan of simple, straightforward index fund investing and the success it brings over time. Immediately after finishing this book, I read it again in its entirety. After that, I went back and re-read numerous sections and chapters. I keep coming back to this book, and I would definitely suggest it to anyone. (I even bought one and gifted it to a co-worker.)
One Up On Wall Street by Peter Lynch. I admit it: I love Peter Lynch. He's smart enough to fully understand the stock market, yet he is completely down to Earth and not afraid to admit his failures. His track record as the Magellan mutual fund manager (where he generated an average annual return of 29% from 1977 through 1990, blowing away the S&P500) speaks for itself. In this book, he repeatedly demonstrates that any average Joe has the ability to make smart stock choices if they are simply willing to put in the effort and do some research before they spend their money buying shares. Indeed, he feels the average individual has a number of advantages over Wall Street fund managers, and he'll explain each and every one to you very clearly. If you're not a fan of index investing--or you just want to 'hit it big' with a few indivdual stocks--this is definitely the book for you.
Anyway, these four financial books are the best ones I've read on the subject, and the ones I would recommend most heartily to anyone interested in learning more on the topic. What other boooks have you guys read that you would recommend to others?
Based on that comment, I decided to start this spinoff thread. What books on finance/investing have you read that you would recommend to others? I spent 2020 reading a variety of books on the topic, so I already had the idea to start a thread like this. I thank Paul for motivating me to finally make it happen.
I, too, have read The Richest Man in Babylon and would recommend it. For those who haven't read it, its author takes the concepts of saving, investing, etc and presents them in a simplified story format. One fellow investor said this book ought to be standard bedtime reading for children everywhere, and I completely agree. Reading this book at a young age--or any age, actually--can plant the seeds to lead one to make good financial choices throughout their life. This book doesn't form an 'action plan' or give you any specific step-by-step instructions; instead, it simply helps you develop the underlying philosophy of financial responsibility.
MONEY: Master the Game by Tony Robbins. This is a big book. Tony is a motivational speaker, and you can tell--this book constantly tries to excite you through story after story on every topic, throughout every chapter. It is almost tiring to read, but it is chock full of excellent information. Unlike George Clason's book above, this one is filled with specific ideas and instructions on how to build a financial future for yourself and your family. Tony is a proponent of investing via index funds, and that's what this books primarily instructs you to do.
The Simple Path to Wealth by JL Collins. Almost ironically, this was the next book I read after Tony's book above. Overall, this one carries the same message... except it is much more concise. It is written in a very light, approachable style and is constantly sprinkled with humor throughout. This book came about when JL began writing a series of blog posts addressed to his young daughter, instructing her to avoid her father's financial mistakes in life and instead make good choices which lead to financial success. After a lot of prodding from various readers around the globe, JL gathered these posts, organized and expanded them, and released them in book form. And when this book's title says The Simple Path, it means it--JL is a big fan of simple, straightforward index fund investing and the success it brings over time. Immediately after finishing this book, I read it again in its entirety. After that, I went back and re-read numerous sections and chapters. I keep coming back to this book, and I would definitely suggest it to anyone. (I even bought one and gifted it to a co-worker.)
One Up On Wall Street by Peter Lynch. I admit it: I love Peter Lynch. He's smart enough to fully understand the stock market, yet he is completely down to Earth and not afraid to admit his failures. His track record as the Magellan mutual fund manager (where he generated an average annual return of 29% from 1977 through 1990, blowing away the S&P500) speaks for itself. In this book, he repeatedly demonstrates that any average Joe has the ability to make smart stock choices if they are simply willing to put in the effort and do some research before they spend their money buying shares. Indeed, he feels the average individual has a number of advantages over Wall Street fund managers, and he'll explain each and every one to you very clearly. If you're not a fan of index investing--or you just want to 'hit it big' with a few indivdual stocks--this is definitely the book for you.
Anyway, these four financial books are the best ones I've read on the subject, and the ones I would recommend most heartily to anyone interested in learning more on the topic. What other boooks have you guys read that you would recommend to others?
