Books about finance

Table of Contents

Books about finance that I read
To read

Books about finance that I read

To read

One need to know the answers to questions like the following:

When does the interest rate generally go up? When does it go down? What are bonds? What’s inflation? When do you get inflation? What’s a market cycle?
Why do economies generally collapse? What’s debt? Who prints money? Why do they print money?
To find out the answers, read a book like : A Random Walk Down Wallstreet by Burton Malkiel
Underground Empire: How America Weaponized the World Economy by Henry Farrell
1. https://www.librarything.com/work/30672126/t/Underground-Empire-How-America-Weaponized-the-World-Economy

J.P.Morgan 2025 Summer Reading List

For 26 years, J.P. Morgan has been providing a summer reading list for its clients all over the world. This year’s list focuses on curiosity.

“Our 2025 Summer Reading List is a celebration of curiosity’s boundless power,” said Darin Oduyoye, chief communications officer of J.P. Morgan Asset and Wealth Management. “This year’s selections challenge us to think and explore boldly. With topics ranging from personal values to innovative frontiers such as AI, electric vehicles, and the universe’s wonders, this list is designed to inspire growth and forward-thinking.”

Key Takeaways

Examining the annual summer reading list from J.P. Morgan offers some insight into the minds of the very wealthy.
The theme of the 2025 reading list is curiosity, and it features books covering topics such as artificial intelligence (AI) and electric cars.
Psychology, a memoir, reflective art, and flowers are also topics of this year’s summer reading list from J.P. Morgan.

The 2025 Summer Reading List selections are:

Life in Three Dimensions: How Curiosity, Exploration, and Experience Make a Fuller, Better Life By Shigehiro Oishi, PhD Find a new path to fulfillment. Psychologist Shigehiro Oishi challenges the two common ways of measuring a good life—happiness and meaning—by introducing a third dimension: psychological richness. Oishi explores how this concept, which prioritizes curiosity, spontaneity and diverse experiences, can lead to personal growth. Using examples from psychological studies, books and films, famous innovators such as Steve Jobs, personal acquaintances and his own family, Oishi makes the case for an adventure-filled life.

Becoming You: The Proven Method for Crafting Your Authentic Life and Career By Suzy Welch Discover your true self and build a fulfilling career with Suzy Welch, director of NYU Stern’s Initiative on Purpose and Flourishing. Drawing from her popular NYU class, Welch provides a dynamic, step-by-step guide to uncovering your purpose in today’s fast-paced world. Through compelling stories from students and her own journey from crime reporter to tech entrepreneur, Welch offers a warm and witty guide to learning how to live authentically and meaningfully.

Reset: How to Change What’s Not Working By Dan Heath Looking to get unstuck and shift direction? Bestselling author and podcast host Dan Heath offers a framework to break free from entrenched work habits while making the most of minimal resources. Heath uncovers “leverage points” where small efforts yield big results, helping readers unlock progress toward their highest goals. With fascinating examples from vastly different workplaces such as fast-food drive-thrus and a couples therapy office, Heath outlines strategies to accelerate meaningful change, eliminate waste and boost motivation.

The Next Day: Transitions, Change, and Moving Forward By Melinda French Gates While transition periods can be profound moments of change, they are often filled with confusion or fear. In The Next Day, Melinda French Gates provides a guiding light for navigating these shifts, offering insights on moving forward when the ground feels unsteady. Reflecting on her own life transitions, from parenthood to leaving the Gates Foundation, French Gates emphasizes embracing uncertainty, shedding perfectionism and supporting others in crisis. With wisdom and candor, she delivers practical advice for facing life’s inevitable transitions.

Iron Hope: Lessons Learned from Conquering the Impossible By James Lawrence Renowned endurance athlete James “Iron Cowboy” Lawrence reveals his secrets for mental toughness. Famous for completing 50 full-distance triathlons in 50 states over 50 days, Lawrence attributes his success not to physical strength, but to an unbreakable mindset. In 2021, he pushed to break boundaries again, attempting 100 Iron Man competitions in 100 days. By keeping small promises and building momentum, Lawrence shows readers how to develop the mental fortitude to turn any goal—no matter how ambitious—into reality.

The Tell: A Memoir By Amy Griffin Amy Griffin, founder and managing partner of investment firm G9 Ventures, recounts her lifelong journey of running—from Amarillo, Texas, to the University of Virginia, and the streets of New York—while unknowingly fleeing a hidden secret. Her daughter’s poignant question, “Where are you, Mom?” sparks a quest to uncover buried childhood trauma. Through therapy and a return to her Texas hometown, Griffin explores perfectionism and the search for validation. With honesty and hope, she reveals the power of embracing our true selves to deepen connections with others and ourselves.

Coming of Age: How Technology and Entrepreneurship are Changing the Face of MENA By Noor Sweid Founder and managing partner of Global Ventures, Noor Sweid explores the rise of the Middle East and North Africa (MENA) as a tech and entrepreneurship hub. With the world’s largest population of young digital natives, MENA is poised to challenge the global order. Coming of Age spans 25 years of entrepreneurial evolution, highlighting transformative ventures in fintech, healthtech, agritech and more. Through interviews with 35 pioneering founders, Sweid showcases MENA’s ascent to a formidable global market force, driven by its innovative youth.

The Technological Republic: Hard Power, Soft Belief, and the Future of the West By Alexander C. Karp and Nicholas W. Zamiska In a compelling analysis, Palantir co-founder and CEO Alexander C. Karp along with Palantir executive Nicholas W. Zamiska delve into the challenges of the West’s technological landscape. This groundbreaking treatise offers strategies for the software industry to tackle urgent issues amid rapid technological changes and AI advancements. Through insights into Palantir’s journey, the authors inspire a proactive approach to ambitious innovation and bold thinking to maintain a competitive edge. Their view of technology’s potential is relevant for anyone interested in the intersection of technology, politics and society.

Inevitable: Inside the Messy, Unstoppable Transition to Electric Vehicles By Mike Colias In this gripping exploration of the electric vehicle revolution, veteran Wall Street Journal automotive reporter Mike Colias examines the transformative pivot reshaping the $2 trillion automotive industry—a shift already sending ripples across the global economy. Traveling from Detroit to Japan to Germany to China, Colias highlights the global effects of this transformation on economies and lives. From the boardrooms where executives strategize to compete against Tesla and Chinese competitors to the family dealerships navigating whether to sell EVs, Inevitable examines the dynamism and challenges of this transition.

Raising AI: An Essential Guide to Parenting Our Future By De Kai How is the widespread use of AI impacting our world and culture? As the pioneer of translation AIs such as Google, Yahoo and Bing translate, De Kai provides an insightful guide to understanding how AI can empower the future. As AI reshapes civilization, Raising AI prompts readers to consider its ethical implications and our active role in this shift, advocating for a future where humanity and AI coexist harmoniously. Offering a new framework for navigating AI’s influence, this book is a must-read for anyone curious about engaging with the AI revolution responsibly.

MirrorMirror: The Reflective Surface in Contemporary Art By Michael Petry Featuring over 150 artists such as Cindy Sherman and Yayoi Kusama, MirrorMirror explores the use of reflective surfaces in art. Michael Petry, director of London’s Museum of Contemporary Art, recounts how mirrors have inspired artworks throughout history, from Van Eyck’s Arnolfini Portrait to Velázquez’s The Rokeby Venus, then goes on to show how artists of today are exploring mirrors as objects of magic, transformation and power. Alongside analyses of works including Jeff Koons’s Balloon sculptures and Subodh Gupta’s life-sized trees made from stainless steel, Petry discusses the impact of selfies and the ways in which smartphones are modern-day mirrors to the self.

The Fricks Collect: An American Family and the Evolution of Taste in the Gilded Age By Ian Wardropper In this captivating story of ambition, wealth and patronage, Frick Collection director Ian Wardropper chronicles the journey of industrialist Henry Clay Frick and his daughter, Helen, in building one of America’s premier art collections. Through collaborations with esteemed dealers and decorators, this richly illustrated volume unveils the interiors of the Frick family’s Pittsburgh and New York homes, offering insights into the Gilded Age’s artistic legacy and the influence of the Frick Collection, now reopened after a multi-year renovation. This book is a testament to the enduring allure of art and the transformative power of patronage in shaping cultural institutions.

Mars: Photographs from the NASA Archives By Nikki Giovanni, James L. Green, Emily Lakdawalla, Rob Manning and Margaret A. Weitekamp Ever wonder what it would be like to travel to Mars? Taschen offers a look at the Red Planet through six decades of NASA’s groundbreaking photographs, revealing its secrets and striking similarities to Earth. From the first close-up images by Mariner 4 in 1965 to vistas captured by rovers, this collection highlights the planet’s diverse landscapes, from ancient riverbeds to towering volcanoes. With essays and commentary from NASA experts, scientists and cultural figures, this book explores Mars as both a scientific frontier and a source of fascination, bringing us closer than ever to understanding our neighboring world.

Living with Flowers By Aerin Lauder Legendary hostess and style icon Aerin Lauder invites readers to infuse their homes with the beauty and joy of flowers. Inspired by her grandmother, Estée Lauder, and mother, Jo Carole Lauder, she shares creative ideas for incorporating flowers into daily life, from simple kitchen arrangements to elegant floral wallpapers. Whether it’s a bouquet of daisies to welcome dinner guests or a single stem to brighten a workday, Living with Flowers reveals how flowers can elevate spaces and spark joy.

The Values Compass: What 101 Countries Teach Us About Purpose, Life, and Leadership By Dr. Mandeep Rai In The Values Compass, broadcast journalist Dr. Mandeep Rai takes readers on a journey through 101 countries, exploring how the core values of different nations can shape our personal beliefs and guide our decisions. From Moroccan compromise to Armenian survival and American entrepreneurship, Rai illustrates the profound impact of these values. Updated with a new introduction for 2025, this book serves as a guide to understanding our own values, helping us view ourselves through a global lens, and inspiring us to navigate life with purpose and intention.

Economic Spotlight: Our Dollar, Your Problem: An Insider’s View of the Seven Turbulent Decades of Global Finance, and the Road Ahead By Kenneth Rogoff With all eyes on the U.S. economy, Kenneth Rogoff’s latest book provides a timely examination of the global rise of the U.S. dollar and questions its future stability. As the Maurits C. Boas Professor of Economics at Harvard University and former Chief Economist at the International Monetary Fund, Rogoff traces seven decades of global finance, highlighting the dollar’s dominance over the Japanese yen, Soviet ruble, and euro, while addressing contemporary challenges posed by cryptocurrencies, the Chinese yuan, political instability and more. Through a sweeping portrait of the international monetary system, Rogoff illustrates how America’s outsized power could lead to financial instability both abroad and in the U.S.

The new NextList 2025 highlights include:

DATALAND Los Angeles, CA DATALAND, the world’s first museum of AI arts and digital ecosystem, explores the intersection of human imagination and the creative potential of machines. Under the artistic leadership of Turkish-American media artist Refik Anadol, DATALAND will unite pioneers across the arts, science, AI research and cutting-edge technology at its flagship location, launching in 2025 at The Grand L.A. Inviting visitors to experience the latest sensory and visualization technologies at scale, DATALAND establishes a new model for cultural institutions in the digital age.

Maybe Happy Ending New York, NY Maybe Happy Ending is the latest sensation on Broadway, starring Darren Criss and Helen J Shen as two lifelike service robots who, after being abandoned by their owners, begin to question their programmed existence. Set in a near-futuristic Seoul, the musical explores themes of love, identity and what it means to be alive, combining humor with heart to offer a fresh perspective on human-robot interactions.

Hill Family Estate Napa Valley, CA At Hill Family Estate, the story of winemaking is rooted in the passion and dedication of Ryan Hill and his family. As the next generation of vintners, they have embraced sustainable practices and innovative techniques to craft wines that reflect the unique terroir of Napa Valley. Visitors can explore the estate’s picturesque vineyards and enjoy tastings of its award-winning varietals. With a focus on quality and authenticity, Hill Family Estate offers a glimpse into the future of winemaking, where tradition meets innovation in the pursuit of excellence.

SailGP With adrenaline-pumping races in iconic global locations, SailGP delivers the most exciting competitions on water to captivate the next generation. The international sailing championship gathers the world’s elite sailors to compete in electrifying Grand Prix events across five continents, in cities including New York, Abu Dhabi, Geneva and beyond. With high-speed catamarans and a thrilling, fan-friendly experience, SailGP is bringing this traditional sport into the future through cutting-edge innovation.

Books about Investing, finance, business management, and marketing

Bonnie Biafore’s Personal Investing: The Missing Manual (Personal Investing)

For a closer look at investing and to learn more great strategies, check out Bonnie Biafore’s Personal Investing: The Missing Manual. As with all things financial, the more you know, the better.

The Four Pillars of Investing

(FOUND IN THE COLLECTION)

William Bernstein is a retired neurologist who has turned his attention to financial matters. He wrote ‘The Four Pillars of Investing’, which is one of the best books on investing published in the past decade.

James B. Stewart’s Den of thieves (On why active trading is not good)

If you want to get an idea of how much money the financial industry siphons from unwary investors, read James B. Stewart’s ‘Den of thieves’, a true-life account of the insider trading scandals of the 1980s that will blow your mind.

The Richest Man in Babylon and Think and Grow Rich (Growing a mastermind group of people to get to the position that you want to be in)

(FOUND IN THE COLLECTION) both of the books

After speaking about what he’s learned from The Richest Man in Babylon, Freeway Ricky spoke about the book Think and Grow Rich, which he said taught him about growing a mastermind group of people to get to the position that you want to be in, adding that he’s been consciously putting people in certain positions recently. He went on to share how As a Man Thinketh taught him to exercise his mind and plant the right seeds to grow.

You can read Freeway Ricky’s book, The 21 Keys of Success, here: https://a.co/0dRXaIA

I’m a 17 year old extremely interested in investing, finance, business management, and marketing. Are there any must-read or suggested books to read?

5 Books to Read If You Want to Understand How Money Really Works, According to Harvard Economists

https://www.inc.com/jessica-stillman/5-books-to-read-if-you-want-to-understand-how-money-really-works-according-to-harvard-economists.html

The best, most accessible introductions to the complex topic of how money really works, picked by Harvard’s top economists.

EXPERT OPINION BY JESSICA STILLMAN, CONTRIBUTOR, INC.COM @ENTRYLEVELREBEL

Aug 15, 2024

Money shapes our lives in profound ways, but have you paused lately to think about what money is exactly and how it really works?

In an age of digital payments, it’s clearly not bills and coins in your wallet. It’s not even the numbers in your bank account. Money, at its heart, is an idea people made up to make their lives better. And what exactly money has looked like and how it’s functioned have changed radically over the centuries.

While people once exchanged cowry shells or gold coins, today money is a complex system involving central banks, regulators, stock markets, cryptocurrencies, and regular people earning, spending, and investing. Even “vibes” seem to affect how the economy goes.

If you want to give yourself the best chance of prospering in this system, you probably want to understand it.

This is why the Harvard Gazette recently polled three of the university’s top economists for their picks of the best and most accessible books about how money works. Here are five that seem not just illuminating but like they might just be worth tucking in your beach bag this summer.

Money by Jacob Goldstein

Harvard professor of economic policy Jason Furman describes this book by the co-host of the popular NPR podcast Planet Money as ”An entertaining history of what money is — and what aspired to be money but turned out not to be, often at a great loss to those who bet on it.”

The New York Times agreed it was a gripping read, saying it contains “all the characters of an academic book” but “blended with scandal and gossip to propel the story along.”

The Ascent of Money by Niall Ferguson

If you want to know the scope of this book, recommended by Harvard economist Kenneth Rogoff, then you only need to read the subtitle: “A financial history of the world.” But while it clearly covers a lot, it does it in a way that will keep you reading.

“Ferguson weaves the development of debt and finance through history and people, from ancient Mesopotamia to the modern global financial bank. As entertaining and eloquent as it is insightful, Ferguson’s breadth of knowledge across disciplines is remarkable, and the writing has wit and humor that is often sorely lacking in this space,” Rogoff claims.

Bloomberg described the book as a “good old-fashioned narrative history, complete with heroes and villains, visionaries and scoundrels.”

Money Mischief by Milton Friedman

If you have a taste for academic economics, go ahead and read the classic works of Nobel laureate and champion of free markets, Milton Friedman. If you’re looking for a more accessible starting point, Furman points you to Money Mischief.

“The leading postwar proponent of monetarism wrote scholarly books about money that were more important but probably not more entertaining,” he says.

According to Amazon, the book “explains, in plain English, what the present monetary system in the United States means for your paycheck and your savings as well as for the global economy.”

Ben Franklin: An American Life by Walter Isaacson

We don’t often think of Ben Franklin as someone on the cutting edge of economics, but Rogoff points out that “he was way ahead of his time in bringing the newfangled invention of paper currency to the colonies, earning a living as the official money printer for both New Jersey and Pennsylvania.”

Which makes his biography a great way to begin understanding the history of how money works in America.

Career and Family by Claudia Goldin

What happens when the rubber meets the road and all this theory and history collides with real people’s actual everyday financial decision making? To get a handle on how the economics of money impacts real people, 2023 Nobel laureate and Harvard economics professor Claudia Goldin recommends her own book, Career and Family.

“The book concerns the increased desire of college-graduate women across the past 120 years to achieve both family and career — the great strides that have been made, but also how the quest has often been stymied by the economic marketplace,” she explains.

Investing and Finance books

The Intelligent Investor, by Benjamin Graham; (FOUND IN THE COLLECTION)
Buffet: The Making of an American Capitalist, by Roger Lowenstein;
*Learn to Earn, by Peter Lynch;
The Four Pillars of Investing, by William Bernstein; (FOUND IN THE COLLECTION)
The Little Book that Builds Wealth, by Pat Dorsey;
Your Money or Your Life, Joe Dominguez & Vicki Robin

How should a young person invest money?

Cinjon Resnick, Private Equity Analyst Upvoted by Andrei Kolodovski, Managing Partner, TRIZ Fund

I was in a similar position once. Here’s what I did:

Read The Intelligent Investor by Benjamin Graham. This is your go to and will give you a good frame for how to think about investing (like an owner) and how to think about the markets. Graham is considered the grandfather of value investing and was Buffett’s direct teacher. Try to get the one with the Zweig commentary because he updated it for today’s environment.

Then read Margin of Safety by Seth Klarman, who has done incredibly well leading the Baupost fund since the late 80s. It expounds mostly the same ideas because Klarman follows Graham’s teachings but also has his own touch that is quite different from anyone else. It’s very hard to reverse engineer Klarman’s plays. This book is also great because of its near current examples (early 90s).

Then one more book and that is You Can Be A Stock Market Genius by Joel Greenblatt. Terrible name but great book because of all of the special situations (these aren’t unique, but are a way of identifying specific investment plays like spin-offs or mergers) it details and how to take advantage of them/what to look for.

Ok, that’s three books which should take ~2-3 months. After that, start investing in things you know and understand. If you don’t understand anything, then start researching.

But while doing it, the best education you can get is to be reading the Buffett Partnership Letters and then the Berkshire Hathaway Annual Letters. These span 40+ years and are a goldmine of investing and business education. I strongly encourage this last step, especially for people new to investing and those without the time to focus on anything but their industry of choice.

The Most Important Finance Books

Business Insider

Winter is always a good time to stay in and catch up on a little finance reading. In case you missed them, we’ve compiled a list of 22 classic works that every Wall Streeter should read. These are the books that show up time and again in lists of books recommended by the pros themselves. Topics covered include everything from the fundamentals of investing to the stories behind some of the Street’s most speculative episodes in history.

The Intelligent Investor by Benjamin Graham

“This classic text is annotated to update Graham’s timeless wisdom for today’s market conditions… The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing” – which shields investors from substantial error and teaches them to develop long-term strategies – has made The Intelligent Investor the stock market bible ever since its original publication in 1949.”

Common Stocks and Uncommon Profits by Philip Fisher

“Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today’s financiers and investors, but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958.”

The Theory of Investment Value by John Burr Williams

“This book was first printed in 1938, having been written as a Ph.D. thesis at Harvard in 1937. Our good friend, Peter Bernstein mentioned this book several times in his excellent Capital Ideas which was published in 1992. Why the book is interesting today is that it still is important and the most authoritative work on how to value financial assets. As Peter says: “Williams combined original theoretical concepts with enlightening and entertaining commentary based on his own experiences in the rough-and-tumble world of investment.” Williams’ discovery was to project an estimate that offers intrinsic value and it is called the ‘Dividend Discount Model’ which is still used today by professional investors on the institutional side of markets.”

Irrational Exuberance by Robert Shiller

“As Robert Shiller’s new 2009 preface to his prescient classic on behavioral economics and market volatility asserts, the irrational exuberance of the stock and housing markets “has been ended by an economic crisis of a magnitude not seen since the Great Depression of the 1930s.” - As we all, ordinary Americans and professional investors alike, crawl from the wreckage of our heedless bubble economy, the shrewd insights and sober warnings, and hard facts that Shiller marshals in this book are more invaluable than ever.”

One Up on Wall Street by Peter Lynch

“The former star manager of Fidelity’s multibillion-dollar Magellan Fund, Lynch reveals how he achieved his spectacular record. Writing with John Rothchild, Lynch offers easy-to-follow directions for sorting out the long shots from the no shots by reviewing a company’s financial statements and by identifying which numbers really count. He explains how to stalk tenbaggers and lays out the guidelines for investing in cyclical, turnaround, and fast- growing companies. Lynch promises that if you ignore the ups and downs of the market and the endless speculation about interest rates, in the long term (anywhere from five to fifteen years) your portfolio will reward you. This advice has proved to be timeless and has made One Up on Wall Street a number-one bestseller. And now this classic is as valuable in the new millennium as ever.”

Against the Gods by Peter Bernstein

“In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the central ideas that distinguishes modern times from the distant past. Against the Gods chronicles the remarkable intellectual adventure that liberated humanity from oracles and soothsayers by means of the powerful tools of risk management that are available to us today.”

Reminiscences of a Stock Operator by Edwin Lefevre

“First published in 1923, Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever. Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your lifeâ€”and your portfolio.”

The Alchemy of Finance by George Soros

“George Soros is unquestionably one of the most powerful and profitable investors in the world today. Dubbed by BusinessWeek as “the Man who Moves Markets,” Soros made a fortune competing with the British pound and remains active today in the global financial community. Now, in this special edition of the classic investment book, The Alchemy of Finance, Soros presents a theoretical and practical account of current financial trends and a new paradigm by which to understand the financial market today. This edition’s expanded and revised Introduction details Soros’s innovative investment practices along with his views of the world and world order. He also describes a new paradigm for the “theory of reflexivity” which underlies his unique investment strategies. Filled with expert advice and valuable business lessons, The Alchemy of Finance reveals the timeless principles of an investing legend.”

Security Analysis by Benjamin Graham and David Dodd

“First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd. As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing,” - have withstood the test of time across a wide diversity of market conditions, countries, and asset classes.”

The Handbook of Fixed Income Securities by Frank J. Fabozzi

“For decades, The Handbook of Fixed Income Securities has been the most trusted resource in the world for fixed income investing. Since the publication of the last edition, however, the financial markets have experienced major upheavals, introducing dramatic new opportunities and risks. This completely revised and expanded eighth edition contains 31 new chapters that bring you up to date on the latest products, analytical tools, methodologies, and strategies for identifying and capitalizing on the potential of the fixed income securities market in order to enhance returns. Among the world’s leading authorities on the subject, Frank J. Fabozzi, along with Steven V. Mann, has gathered a powerful global team of leading experts to provide you with the newest and best techniques for taking advantage of this market.”

Damodaran on Valuation by Aswath Damodaran

“In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of today’s critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You’ll gain an understanding of the vitality of today’s valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.”

Common Sense on Mutual Funds by John Bogle

“Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them. Written in a straightforward and accessible style, this reliable resource examines the fundamentals of mutual fund investing in today’s turbulent market environment and offers timeless advice in building an investment portfolio. Along the way, Bogle shows you how simplicity and common sense invariably trump costly complexity, and how a low cost, broadly diversified portfolio is virtually assured of outperforming the vast majority of Wall Street professionals over the long-term.”

A Random Walk Down Wall Street by Burton Malkiel

“Especially in the wake of the financial meltdown, readers will hunger for Burton G. Malkiel’s reassuring, authoritative, gimmick-free, and perennially best-selling guide to investing. With 1.5 million copies sold, A Random Walk Down Wall Street has long been established as the first book to purchase when starting a portfolio. In addition to covering the full range of investment opportunities, the book features new material on the Great Recession and the global credit crisis as well as an increased focus on the long-term potential of emerging markets. With a new supplement that tackles the increasingly complex world of derivatives, along with the book’s classic life-cycle guide to investing, A Random Walk Down Wall Street remains the best investment guide money can buy.”

The Essays of Warren Buffett by Warren Buffett

“By arranging Buffett’s lengthy writings thematically, Cunningham’s classic book makes clear and coherent the principles and logic of Buffett’s philosophy of business, investing and life. When first published in 1997, many knew Buffett’s writings were gems, but this book’s novelty was to lay out exact principles and their relationship to each other. The central discovery is that the philosophy pivots around one core concept: the vast difference between price and value. From that core radiate the other themes that the book’s arrangement clarifies. The Essays of Warren Buffett is a unique book that takes the raw material of Buffett’s 700+ pages of letters and renders them into a finely- woven 270-page narrative, fulfilling Buffett’s hope that Cunningham would “popularize” his writings.”

Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay

“Classic survey of crowd psychology takes an illuminating, entertaining look at three historic swindles: “The Mississippi Scheme,” “The South- Sea Bubble,” and “Tulipomania.” Fired by greed and fed by naÃ¯vetÃ©, these stratagems gone awry offer essential reading for investors as well as students of history, psychology, and human nature.”

Manias, Panics, And Crashes by Charles P. Kindleberger

“Selected as one of the best investment books of all time by the Financial Times, Manias, Panics and Crashes puts the turbulence of the financial world in perspective. Here is a vivid and entertaining account of how reckless decisions and a poor handling of money have led to financial explosions over the centuries. Covering topics such as the history and anatomy of crises, speculative manias, and the lender of last resort, this book has been hailed as “a true classic . . . both timely and timeless.” In this new, updated sixth edition, Kindleberger and Aliber expand upon the ideas presented in the previous edition to bring the history of the financial crisis up-to-date. It now includes two new chapters that provide an in-depth analysis of the causes, consequences and policy responses to the first global crisis of the 21st century, the Financial Crisis of 2007-2008. In addition, these new chapters also cover significant crises of the last fifteen years.”

Barbarians at the Gate by Bryan Burrough and John Helyar

“A #1 New York Times bestseller and arguably the best business narrative ever written, Barbarians at the Gate is the classic account of the fall of RJR Nabisco. An enduring masterpiece of investigative journalism by Bryan Burrough and John Helyar, it includes a new afterword by the authors that brings this remarkable story of greed and double- dealings up to date twenty years after the famed deal. The Los Angeles Times calls Barbarians at the Gate, “Superlative.” - The Chicago Tribune raves, “It’s hard to imagine a better story…and it’s hard to imagine a better account.” - And in an era of spectacular business crashes and federal bailouts, it still stands as a valuable cautionary tale that must be heeded.”

The Little Book of Behavioural Investing by James Montier

“Bias, emotion, and overconfidence are just three of the many behavioral traits that can lead investors to lose money or achieve lower returns. Behavioral finance, which recognizes that there is a psychological element to all investor decision-making, can help you overcome this obstacle. In The Little Book of Behavioral Investing, expert James Montier takes you through some of the most important behavioral challenges faced by investors. Montier reveals the most common psychological barriers, clearly showing how emotion, overconfidence, and a multitude of other behavioral traits, can affect investment decision-making.”

Too Big to Fail by Andrew Ross Sorkin

“In one of the most gripping financial narratives in decades, Andrew Ross Sorkin- a New York Timescolumnist and one of the country’s most respected financial reporters- delivers the first definitive blow- by- blow account of the epochal economic crisis that brought the world to the brink. Through unprecedented access to the players involved, he re-creates all the drama and turmoil of these turbulent days, revealing never-before- disclosed details and recounting how, motivated as often by ego and greed as by fear and self-preservation, the most powerful men and women in finance and politics decided the fate of the world’s economy.”

When Genius Failed by Roger Lowenstein

“In this business classic â€”now with a new Afterword in which the author draws parallels to the recent financial crisisâ€”Roger Lowenstein captures the gripping roller- coaster ride of Long- Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall.”

Liar’s Poker by Michael Lewis

“The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker. Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street’s premier investment firms. During the next three years, Lewis rose from callow trainee to bond salesman, raking in millions for the firm and cashing in on a modern-day gold rush. Liar’s Poker is the culmination of those heady, frenzied years in a behind-the-scenes look at a unique and turbulent time in American business. From the frat-boy camaraderie of the forty-first-floor trading room to the killer instinct that made ambitious young men gamble everything on a high-stakes game of bluffing and deception, here is Michael Lewis’s knowing and hilarious insider’s account of an unprecedented era of greed, gluttony, and outrageous fortune.”

Stocks For The Long Run by Jeremy Siegel

“Stocks for the Long Run set a precedent as the most complete and irrefutable case for stock market investment ever written. Wharton School professor Jeremy Siegel provides a potent mix of new evidence, research, and analysis supporting his key strategies for amassing a solid portfolio with enhanced returns and reduced risk. "

The 9 Best Books for Young Investors

By Courtney Johnston investopedia.com

Courtney Johnston Investopedia

Courtney Johnston has a background in neuromarketing, small business consulting, real estate, and finance. She has nearly a decade of finance writing experience and also works as a graduate and doctoral writing instructor at the University of Indianapolis.

Updated Jan 28, 2021

Top picks for college-age investors looking to grow their financial future:

Our editors independently research, test, and recommend the best products; you can learn more about our review process here. We may receive commissions on purchases made from our chosen links.

It’s a great idea to begin investing as soon as you start earning a paycheckâ€”whether you’re looking to start a retirement savings plan or earn a little extra income passively.

When you’re just starting out, it’s important to understand the basics of investing and the different options available to you, so you can choose the smartest path for your financial future. As your income grows, your investment portfolio can also expand.

It doesn’t matter if you’re fresh out of college or a teenager who’s realized how significant investing can beâ€”these picks of the best books for young investors will help you succeed.

1 of 9 Best Overall: The Little Book of Common Sense Investing

Most experts, including the Investopedia Financial Review Board, agree that John C. Bogle’s best-selling financial guide is akin to an investing bible. No matter your age, this book is a must-read before you start investing. First published in 2007, this 2017 edition includes two new chapters on asset allocation and retirement investing options.

“The Little Book of Common Sense Investing” - provides a framework for building a low-risk portfolio and teaches you how to make the smartest investment decisions. Bogle also explains the importance of index funds and advises readers to ignore investing fads and focus instead on constructing a broad and diversified portfolio.

2 of 9 Best for Beginners: A Beginner’s Guide to the Stock Market

Young investors who do not have experience with the stock market will learn the ins and outs of the market with this guide. Matthew R. Kratter breaks down the types of stocks and how they work, while explaining how to analyze stocks to find ones that should perform well in the short-term and long-term.

One key area this book addresses is the mistakes beginning investors often make and how to avoid them. “A Beginner’s Guide to the Stock Market” - also dives into investing strategies and the methodologies that are ideal for new, aspiring investors, making this a great first read among investing books.

3 of 9 Best for Financial Basics: Broke Millennial

“Broke Millennial,” - as recommended by members of the Investopedia Financial Review Board as one of the top picks for young investors, addresses what many other investing guides fail to acknowledge: understanding personal finance and addressing your spending habits are crucial if you want to become an effective investor.

Erin Lowry explains how to take control of your finances, even if you don’t make much money, and how to begin investing. Young investors will learn tips for how to stretch their paychecks and how to get started on building a retirement fund at an early age. Unlike many traditional financial guides, this book is written by a millennial for millennials in simple terms that novice investors will grasp quickly.

4 of 9 Best for Rental Property Investing: The Book on Rental Property Investing

Young investors might immediately think of the stock market when building an investment portfolio, but it is not the only place you can invest your money. Rental property investing can help diversify and grow money, if you know what you’re doing. This book covers the entire process of buying and renting properties, while offering advice on choosing the right property, deciding between selling and renting, and flipping houses.

The author, Brandon Turner, provides a complete framework for growing wealth with real estate investing. “The Book on Rental Property Investing” explores the basics of the financial impact of being a landlord, and it touches on common landlord challenges and how to overcome them.

5 of 9 Best for Investing Basics: The Only Investment Guide You’ll Ever Need

Learn how to get started building an investment portfolio with $0 using this guide. Finance writer and co-host of the PBS series “Beyond Wall Street: The Art of Investing,” Andrew Tobias walks young investors through the importance of building a financial foundation for investing and focuses particularly on establishing a healthy savings account.

Readers will find sound investing advice that can be applied to all aspects of their financial lives in this guide. “The Only Investment Guide You’ll Ever Need” was originally published in the 1970s and was completely updated in 2016 with more commentary on modern-day investing, including the author’s thoughts on the 2008 financial crisis.

6 of 9 Best for Expert Investing Tips: One Up on Wall Street

In this tell-all financial guide, Peter Lynch reveals some of the best-kept secrets straight from experienced investors on Wall Street. “One Up on Wall Street” revolves around the rise of internet stocks and breaks down the ways in which modern investing has changed in the years since. Lynch explores the opportunities that exist for amateur investors, particularly young and new investors.

Peter Lynch is the former manager of Fidelity and their multi-billion dollar fund. He details how to research and find stocks that may be likely to perform, focusing on helping new investors find “tenbaggers,” - or stocks that are likely to appreciate tenfold into a top performer. This pick has been selected by the Investopedia Financial Review Board for young investors.

7 of 9 Best for the Psychology Behind Investing: Thinking, Fast and Slow

Why do we make decisions based on a gut feeling rather than on facts and statistics? Daniel Kahneman, psychologist, economist, and winner of the 2002 Nobel Memorial Prize in Economic Sciences1ï»¿, dives into the methodology we often use to make major decisions, from choosing who to marry to investing our money. This New York Times bestseller2ï»¿ hones in on how many of us make choices based on instinct and intuition and how this can impact your life, including your financial future.

“Thinking, Fast and Slow” will also reveal how to make smart investing decisions by removing emotion from the equation. Young investors will learn more about the psychology behind how leading investors choose stocks that are likely to outperform others. All in all, Kahneman demonstrates how to make “better” - decisions based entirely on logic, even if these decisions feel uncomfortable.

8 of 9 Best for Investing in Stocks: The Modern Guide to Stock Market Investing for Teens

“The Modern Guide to Stock Market Investing for Teens” covers key tips and strategies for those interested in investing in the stock market. Published in 2020, this quick read was written by a teenager in California, Alan John, who wanted to help young people see the importance in beginning their investing journeys early.

The author urges teens and college students to start investing with any amount of money they can spare, explaining how this invested dollar can grow over time, thanks to compound interest and market growth. Young investors hesitant about investing will find simple strategies for starting a portfolio, while also gaining personal finance and retirement investment knowledge. Overall, this book tackles often complex and out-of-reach topics in an approachable way.

9 of 9 Best for Passive Real Estate Investing: Investing in REITs

Passive real estate investing is often overlooked by young investors who might equate investing in real estate with becoming a landlord or property manager. The fourth edition of “Investing in REITs” - breaks down how young and new investors can begin diversifying their portfolios and earn some of the best returns on the market through REITs.

Written by the late Ralph L. Block, an expert advisor on REITs for 40 years, this book offers a comprehensive exploration on REITs, the history of this investment type, and how to begin incorporating them in your portfolio. Block received the 2004 Industry Achievement Award from the National Association of Real Estate Investment Trusts 3ï»¿(NAREIT).

Final Verdict

If there’s only one book young investors need to learn about the stock market, retirement investing strategies, and real estate investment opportunities, we recommend “The Little Book of Common Sense Investing” - by John C. Bogle. This guide provides the core framework young investors need to begin their investing journeys, while also offering updated advice about investing in the modern marketplace.

Why Trust Investopedia?

Courtney Johnston is a freelance writer with over nine years of experience in the real estate, personal finance, investing, and small business industries. All books have been reviewed objectively based on the topics covered, readability, and guidance offered. Many of these books were New York Times bestsellers and award winners. A few were personally selected by the Investopedia Financial Review Board. The writer personally owns and recommends “Thinking, Fast and Slow.” -

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

https://www.nobelprize.org/prizes/economic-sciences/2002/kahneman/facts/

http://www.hawes.com/2011/2011-12-25.pdf

https://www.reit.com/nareit/industry-awards/leadership-and-achievement-awards

The 10 Best Books for Beginning Investors

Do you want to start building your wealth? Consult this short list of the best books for beginning investors before you embark on your journey.

by: Coryanne Hicks - kiplinger.com - November 25, 2020

The biggest barrier between people who want to invest, and actually investing, isn’t money. With funds and apps that let you get started for as little as $1, you can start investing with your pocket change.

No, the biggest barrier for today’s beginning investors is simply knowing how to get started.

Unfortunately, you’ll be hard-pressed to find investing as part of most educational curricula, so it’s up to aspiring investors to create their own course, so to speak. That’s actually quite easy given a plethora of engaging investing books available, but the abundance of choices can be a little overwhelming.

We’ll help you narrow it down.

Here are 10 of the best books for beginning investors, from quick reads you can knock out in the time it takes you to drink a cup of coffee, to hefty tomes that leave nothing uncovered. And if you want to buy any of these books for yourself or someone in your life who’s just getting started, we’ve included links to purchase pages.

1 of 10 If You Can: How Millennials Can Get Rich Slowly

Efficient Frontier Publications

Author(s): William J. Bernstein

If you’re short on time and put a premium on simplicity, William Bernstein’s primer on investing won’t let you down.

The strategy Bernstein outlines in If You Can is so straightforward a 7-year-old could do it. It doesn’t take long to learn about it or put it to work, either. The whole process, Bernstein explains, takes only 15 minutes per year, and has been shown to outperform 90% of financial professionals over the long run.

And at less than 50 pages, it won’t take you much longer than that to read through this relative pamphlet.

Best of all: It’s one of the best books that beginning investors can get for absolutely free. Bernstein’s website, Efficient Frontier, allows visitors to download If You Can in Kindle, Adobe Acrobat and Mobi formats at no cost. (But at about six bucks, a paperback version won’t break the bank.)

2 of 10 The Financial Diet: A Total Beginner’s Guide to Getting Good with Money

Holt Paperbacks

Author(s): Chelsea Fagan and Lauren Ver Hage

If anyone can make managing your money a fun exercise, it’s The Financial Diet founders Chelsea Fagan and Lauren Ver Hage.

Their book, also named The Financial Diet, was chosen as one of Real Simple’s Most Inspiring Books for Graduates and is the perfect jumping-off point for beginning investors who are also just getting started in their careers, says ShirleyAnn Robertson, a Prudential financial advisor based in Schaumburg, Illinois.

“I always tell my clients that your relationship with money should be a balance, something that is unique to you,” Robertson says. “This book conveys similar touchpoints and is a great companion for anyone looking to start getting a better handle on their finances, especially given the unpredictable times we are in now.”

You have to learn how to manage your finances and build your relationship with money before you’re ready to invest. And that’s the focus of the book: personal finance, with an emphasis on budgeting and saving for retirement. But it also provides the steps to start investing … once you have your financial life in order, of course.

3 of 10 The Little Book That Still Beats the Market

John Wiley & Sons

Author(s): Joel Greenblatt

The Little Book series is a collection of books wherein some of the brightest minds in finance share their investing wisdom. In The Little Book that Still Beats the Market, Joel Greenblatt - founder of Gotham Capital, and managing principal and co-chief investment officer of its successor, Gotham Asset Management - shares his “magic formula” to help you outperform the market by buying good companies for bargain prices.

But a formula is only as good as the tools you have to implement it. So after sharing this formula, Greenblatt and team put together Magic Formula Investing, a free resource to readers that does the math and sources the data for you.

The Little Book That Still Beats the Market is an updated version of Greenblatt’s classic original text, The Little Book that Beats the Market, published in 2005, which became a New York Times bestseller. As Greenblatt says himself: His goal in writing the first edition of the book was to reduce the intimidation factor that stands between many people and investing. The end result was a book with language so simple that anyone - even his kids - could understand it.

4 of 10 The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

Harriman House

Author(s): Morgan Housel

Money management isn’t as math-centric as you might believe. Most financial decisions aren’t made by spreadsheets; they’re made by people, and people have emotions, biases and unique ways of viewing the world. These feelings and perspectives can cloud people’s understanding of finance and ultimately get between investors and long-term success.

Recognizing this is the first step to avoiding the emotional blunders - like panic selling or jumping onto the hot-stock bandwagon right before it derails - that so often thwart beginning investors.

The second step to avoiding emotional biases: Reading Morgan Housel’s The Psychology of Money.

As Housel will tell you, successfully managing your money is less about how intelligent you are and a lot more about how you behave. Even the smartest person can make a lousy investor if they can’t keep their emotions in check when the market takes a tumble.

Housel’s book lays out the 20 “flaws, biases, and causes of bad behavior” that people have concerning money, and how these flaws can lead to bad financial outcomes.

Beginning investors shouldn’t think of this as a recipe for how to invest, but a means of sticking with whatever recipe you use to invest.

5 of 10 The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life

CreateSpace Independent Publishing Platform

Author(s): JL Collins

For everyone who wished their dad had taught them how to invest, there’s The Simple Path to Wealth. Compiled from a series of letters JL Collins wrote to his daughter about investing and money, this book offers some of the most comprehensible explanations about how to invest and why doing so is important.

Collins covers the prerequisites to investing, such as how to think about money and what to do about debt, as well as investing topics themselves, like how to choose an investment firm and how the stock market works. He also explains everything you need to know to get started investing and keep investing all the way through retirement and beyond.

But what makes this one of the best books for beginning investors is that Collins does all this in such a simple, down-to-earth way, that you’ll feel like you’re just having a conversation with your dad.

6 of 10 The Bogleheads’ Guide to Investing

Wiley

Author(s): Taylor Larimore, Mel Lindauer and Michael LeBoeuf

If you’ve never heard the term before, “Bogleheads” are followers of the investing philosophies of Vanguard founder John C. “Jack” Bogle. Dubbed the “godfather of index investing,” the late Bogle’s philosophies naturally point toward low-cost index investing, and so does The Bogleheads’ Guide to Investing.

But it discusses oh so much more, including many of the most basic types of investments you can make.

The Bogleheads’ Guide requires no prior financial knowledge; in fact, its authors prefer a clean slate to prevent any preconceived biases getting in the way.

What more could a beginning investor ask for?

The book will guide you through everything you need to create an index-heavy strategy for yourself. And it does so without overcomplicating the matter or using obscure jargon.

If after reading The Bogleheads’ Guide, you want more of Bogle’s philosophy, try his own book, Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor. It goes into many of the same concepts as The Bogleheads’ Guide but includes a deep dive into fund management so you can get a feel for what’s happening behind the scenes in the index funds you own.

7 of 10 The Essays of Warren Buffett: Lessons for Investors and Managers

John Wiley & Sons

Author(s): Warren E. Buffett and Lawrence A. Cunningham

Have you ever looked at an investment and wondered “What would Warren Buffett do?” Well, this book likely holds the answer.

Any list of the top books for beginner investors should include something from one of Wall Street’s most legendary investors. The Essays of Warren Buffett: Lessons for Investors and Managers is a compilation of the “Oracle of Omaha’s” letters to shareholders of his Berkshire Hathaway holding company. In these letters, Buffett shares his philosophies on investing, accounting, management and finance.

The core theme throughout is that fundamental business analysis should drive investment decisions. By reading Buffett’s essays, you’ll better understand why this is the case, and how to use fundamental analysis in making your own investment selections.

You also might see the potential fallacies that lurk beneath conventional investment wisdom, such as the idea that financial markets are perfectly efficient, or the old chestnut that you shouldn’t put all your eggs in one basket.

Whatever you take away from this book, one thing is for certain: You won’t close it as the same investor you were when you opened it.

8 of 10 Women of The Street: Why Female Money Managers Generate Higher Returns

Springer

Author(s): Meredith A. Jones

Investing was long dominated by men, but that’s gradually changing as more women take charge of their financial futures. But just because women are playing at a game begun by men, doesn’t mean women are playing by men’s rules - nor should they.

“For decades, research has revealed that women invest differently than men,” says Rachel Anderson, a financial-technology UX/UI designer at RobustWealth, a B2B digital wealth management platform. “Contrary to popular belief, women make exceptional investors and often generate higher returns.”

Meredith Jones’s book, Women of The Street, will show you why this is the case and how you can use your female advantage to generate your own outsized returns.

“Jones shares a litany of studies, taking readers on an intimate tour of the behavioral and biological factors at play,” Anderson says. “She also features the voices of numerous women moving markets” including founders, chief investment officers, and portfolio managers.

“After reading this, you’ll be convinced that women are your alpha,” Anderson says.

9 of 10 Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications

New York Institute of Finance

Author(s): John J. Murphy

If you’ve ever seen an investor poring over stock charts, it’s likely they were employing technical analysis - the study of trading data to identify trends in hopes of discovering future investment opportunities.

Whereas a fundamental investor might delve into a company’s revenues, earnings, debt and cash flow to select their holdings, a technical trader will try to predict a stock’s next move based on patterns in its share price history.

If that doesn’t sound easy, it’s because it’s not.

Naturally, it’s almost impossible to keep things simple when discussing technical analysis, let alone teaching it, but John Murphy manages it as well as anyone. His Technical Analysis of the Financial Markets is one of the most digestible books on “TA,” making it one of the best books for beginning investors who want a truly well-rounded market immersion.

Murphy explains the basics necessary to analyze stock charts and understand technical indicators. The book is an expansion of Murphy’s previous bestseller, Technical Analysis of the Futures Markets. As such, Technical Analysis of the Financial Markets still emphasizes futures, but not at the expense of covering the financial markets as a whole.

10 of 10 The Intelligent Investor: The Definitive Book on Value Investing

Harper Business

Author(s): Benjamin Graham

No list of the best books for beginning investors is complete without Benjamin Graham’s The Intelligent Investor.

At 640 pages, it might not be the best book to start on. But don’t let its length scare you too much. Graham has a way of writing that makes this feel more like a long, casual conversation than a grueling lecture on the ways of the stock market.

In his book, Graham walks readers through the three key principles of value investing, or “intelligent investing.” It also includes his famous analogy of “Mr. Market,” illustrating the stock market as a hypothetical (and emotional!) person. And it also teaches investors the virtues of “dollar cost averaging,” which can help simplify investing and take a few psychological bricks off your shoulders.

There’s a reason Warren Buffett has called The Intelligent Investor “the best book about investing ever written.”

8 Books That Teach You To Be Rich

Every working professional needs a financial strategy.

What’s your money strategy? Do you even have one?

If not, it’s not uncommon. Until two years ago, I didn’t have a financial plan, whatsoever.

Even though I’ve been reading about money, finance, and investing ever since I made my first few bucks as a teenager, I never created a financial plan.

But now, I think every single working professional needs a financial strategy. How do you spend your money? How much do you save? What are your thoughts about debt? How do you invest your money? How much money do you need to retire?

These are questions that every person who makes money must answer.

Let’s face it. If you want to retire comfortable (I’m not even talking about living a luxurious lifestyle), you need to get rich.

And the 8 books that I recommend in this article will help you to do that. Read them and you’ll never have to worry about personal finance again.

The Richest Man In Babylon by George S. Clason

This book was published in 1926 and as far as I can tell, it was the first popular book on personal finance.

Usually, I’m not into parables. But this is a great book. It’s the only parable that I’ve read that makes the message of the book even more powerful.

What it comes down to is this: Rich people are rich because they save their money, don’t get in debt, and don’t spend their money foolishly.

Clason recommends to save 10% of your income (I believe you should save 50% â€” more on that later). He calls saving “paying yourself first.” - That’s an important mindset.

You only get rich by paying yourself. Don’t foolishly spend all your money on things you don’t need. When you do that, you pay others, not yourself.

Everyone should read The Richest Man In Babylon â€” the earlier the better.

Your Money Or Your Life by Vicki Robin and Joe Dominguez

What I enjoyed most about this book is that it teaches you to transform your relationship with money. This will change your life.

Money is something you trade your life energy for. Think about it. You work to earn money.

But you spend your time to work. That’s why Robin and Dominguez spend the first part of this book to make us aware that more is not better.

More money is especially not better if you have to put your own well-being on the line. It’s never worth it. Just ask the family of the bankers who committed suicide during any recession.

If you want to live a healthy and wealthy life, you must detach yourself from money. Instead of striving for more, get better at managing your money.

Save it. And don’t waste it on stuff you don’t need. Your Money Or Your Life starts out strategically and gets more practical towards the end.

One thing I don’t agree with, is retiring early. I don’t want to retire and sit on a beach. That’s because my mentors, who are beyond the retirement age, still work and are very happy. I aspire to do the same.

But I also want to build enough wealth that I don’t “have” - to work if I don’t want to. That’s one thing Robin and Dominguez also believe in.

The Intelligent Investor by Benjamin Graham (with commentary by Jason Zweig)

I bought my first stocks when I was 20 years old. At the time, the finance sector was doing great, and I thought it would be good to invest in ING, the major Dutch bank.

Oh yeah, I should mention that this was in 2007, right before the financial crisis. I invested â‚¬1500 in ING and â‚¬500 in AEGON, a Dutch asset management firm.

It was about half of my savings at the time â€” a lot of money for a student. And a few months later, when Lehman Brothers collapsed, my stock portfolio was worth only a few hundred euros in total.

Man, I was so pissed off. I can’t even tell you how livid I was. But looking back, I understand that losing money is a part of investing.

And fortunately, I didn’t sell and waited until the stocks recovered. That took eight years, though.

I decided to not invest in individual stocks anymore. And The Intelligent Investor is one of the most important books that helped to realize investing in stocks is not for me.

If you already know that you don’t want to invest in individual stocks, you don’t have to read this book. However, if you are interested in finance, I highly recommend it. The commentary by Jason Zweig, a WSJ columnist, is also excellent.

P.S. I skipped the chapters about stock analysis because I’m not going to use it.

The Little Book of Common Sense Investing by Jack Bogle

The reason I stopped investing in individual stocks is Jack Bogle. This man is a true hero.

He founded Vanguard and created index funds. Unlike everyone else in finance, he’s not worth billions. Why? He created financial products for the people.

Vanguard is a unique company. Why? It’s the only company in finance that has the same interest as you. When you invest in their funds, they win, and you win.

But every firm, banker, broker, or advisor in finance, has different interests. Namely, their own. And sure, this is a black and white view. There are many unbiased financial advisors too.

But why should you give them your money if you can invest your money by yourself? Instead of buying individual stocks, Jack Bogle demonstrated that it’s much better to buy all the stocks in a certain index, industry, group, or even country.

History has shown us that indexing outperforms the majority of mutual funds. Plus, the fees of index funds are lower because they don’t have managers or expensive offices.

A Random Walk Down Wall Street by Burton G. Malkiel

Malkiel is an economics professor at Princeton. Usually, economics professors are the last people you should take financial advice from because they are disconnected from the real world (read Skin In The Game by Nassim Nicholas Taleb for more thoughts on that idea).

But Malkiel is different. A Random Walk Down Wall Street digs deep in various investment strategies but remains practical at all times.

One of my friends who’s a successful investor recommended this book to me. And after doing some research online, I found that it’s one the most recommended books on investing by investors.

Again, this book advocates indexing over active trading. But because Malkiel is an economist, he does a much better job of explaining how markets work.

It’s actually very comforting. Markets are truly efficient. For every action, there’s a reaction. If that weren’t the case, the Western World would have collapsed when Lehman did.

The Simple Path to Wealth by JL Collins

If you want to read only one book on this list â€” pick this one. The proposed plan in this book comes close to my personal financial strategy.

Collins is a practical man. And The Simple Path to Wealth is the most practical book I’ve read on personal finance.

He recommends saving 50% of your income. And that’s what I believe in too. The more you save early in your career, the better.

His strategy is super simple. If you’re still building wealth and are working, Collins says you should do two things:

Risky? Yes. Most upside? Hell yes.

If you plan on retiring within 10 years, put 80% in the VTSAX, 15% in the VBTLX (bonds index), and 5% in cash. That’s what Collins recommends. Of course, it’s his opinion. And he’s not a fortune teller.

The point of all these books is to educate yourself enough so that you can make the best decision for your own personal situation.

The 4-Hour Workweek by Tim Ferriss

Until now, I shared books that tell you WHAT to do with your money. But HOW do you even make money? If you have only one income stream, it’s time to change that.

It’s one thing that no book on personal finance addresses. My personal view is that valuable skills result in more income.

In general, the better you are at your job, the better your compensation is. It’s also true for entrepreneurship. That’s why I’m an advocate of investing in yourself.

Tim Ferriss started a revolution of making passive income online. With the tools and ideas in The 4-Hour Work Week, you can learn how to create your own passive income streams.

Because it’s great to invest your money. It’s also great to invest in skills that can make you money.

How to Stop Worrying and Start Living by Dale Carnegie

After the first time I lost money on the stock market, it took me eight years to make another investment. Why?

Fear.

One of the most important lessons I’ve learned from reading about investing and talking to investors is that it’s scary. No matter how much you know about investing, the fear will never go away.

So if you want to be a good investor, learn how to deal with the fear. And this book by Carnegie is one of the best books to help you do exactly that.

Because at some point, you have to decide how you’re going to invest your money. And, if you don’t have a clear strategy, it’s maybe even better to not invest at all. Because that’s also a decision.

Remember that there is no perfect time to invest.

So after you educate yourself and know enough(you don’t need to know everything), it’s time to act in your own best interest.

Darius Foroux writes about productivity, habits, decision making, and personal finance. His ideas and work have been featured in TIME, NBC, Fast Company, Inc., Observer, and many more publications. Join his free weekly newsletter.

11 Websites That Will Make You Smarter About Money

SARAH SCHMALBRUCH Business Insider

Not everyone has a financial adviser, and not everyone has the time to read a personal finance book.

Luckily, there’s the internet.

We’ve made learning about money easier for you by compiling a list of some of our goto websites for money advice.

Happy browsing.

Investopedia

Why we like it: Investopedia’s dictionary is great for finding easyto understand, comprehensive definitions of financial terms or concepts.

It also provides tutorials on everything from income taxes to becoming a landlord. The site even features study guides for nationally administered finance exams.

Best for: Looking up the definition of a QTIP Trust and figuring out if you need one.

Kiplinger

Why we like it: The digital component to the magazine “Kiplinger’s,” the site features a broad range of topics from investing to real estate. If your eyes usually glaze over a few paragraphs into an article about money, Kiplinger is a good option because its insight often comes in the form of slideshows and quizzes.

Best for: Keeping on top of the latest investing news.

Wise Bread

Why we like it: Wise Bread refers to itself as “personal finance and frugal living forums.” If you want to learn how to save money from everyday people, this is the place to go. Wise Bread writers share both their own experiences and tips.

Best for: Advice on the everyday challenges of spending less and saving more.

Credit.com

Why we like it: Creating a free account with Credit.com gives you access to your credit score, which has farreaching effects on aspects of your life such as the interest rate you pay on loans and mortgages, and even the price you pay for insurance.

Plus, the site has a regular lineup of articles examining the intricacies of credit, as well as diving into topics such as identity theft and homeownership.

Best for: Figuring out why your credit score keeps dropping.

LearnVest

Why we like it: Working with a LearnVest financial planner costs money, but the articles on its website are free. LearnVest offers personal stories about money and advice from financial planners, but it also has a wide range of tools: calculators, videos, checklists for major life milestones, and a budgeting tool that also comes in the form of an app.

Best for: Reading what certified financial planners think about budgeting, spending, saving, and more.

NerdWallet

Why we like it: NerdWallet is all about comparison. You can compare credit and debit cards, mortgages, investment accounts, and banks, to name a few.

Every year they pick the best for each category and feature that on their site as well.

Best for: Finding the highestyield savings account to store your money.

Quora

Why we like it: Quora requires you to create a free account, and you can sign up through Google, Facebook, or Twitter. The site describes itself as “the best answer to any question,” so next time you’re struggling with a specific money issue, search Quora to see if anyone else has experienced the same struggle and provided a solution. You might also come across some unsolicited — but very helpful — money advice.

Best for: Readers who already have a basic understanding of financial concepts.

CNN Money

Why we like it: If you’re more interested in breaking news that has to do with money, you’ll like CNN Money. The site is great at answering the question of how current events apply to and affect your finances. CNN Money covers personal finance as well as featuring articles on the economy, small businesses, and luxury.

Best for: Learning how the news affects your money.

I Will Teach You To Be Rich

Why we like it: The author of the bestselling “I Will Teach You To be Rich,” Ramit Sethi, created his website of the same name for people who are looking for the “big wins.”

It provides advice on topics like finding your dream job, making more money, and starting your own business.

Best for: Psyching yourself up to earn more.

New York Times: Your Money Section

Why we like it: If you prefer reading longer pieces with more of a narrative, the New York Times Your Money section is the place to go. While the larger paper provides news and insight about changes in the financial industry and the global economy, Your Money distills this news and tackles money management for the individual.

Best for: Following the ins and outs of new financial regulations, rules, and changes.

Rockstar Finance

Why we like it: The creator of Rockstar Finance, “J. Money,” also has his own personal finance blog, Budgets Are Sexy. He curates the best money articles from a wide web of personal finance bloggers and writers — “rockstars” — and then shares them on Rockstar Finance. You can sign up by email to stay up to date and receive the new rockstar articles daily.

Best for: Reading essays and reflections from personal finance bloggers across the web.

15 books to read in your 20s if you want to get rich

KATHLEEN ELKINS AND LIBBY KANE Business Insider

We all know the importance of starting early when it comes to managing our money and saving for retirement.

However, it can be difficult to know where or how to start, especially if your parents didn’t teach you much about money or if you’ve never taken a personal finance class.

The good news is that there are a bunch of resources out there designed to jump start you on a path to financial success, and we’ve highlighted some of the best.

We can’t guarantee you’ll get rich, but here are 15 books for 20somethings who want to start building wealth today:

‘You’re So Money: Live Rich, Even When You’re Not,’ by Farnoosh Torabi

“You’re So Money” is a savvy, realistic finance book written for those who are making entry level pay but love their lattes and nights out with friends. Torabi teaches readers how to splurge without draining the bank and where to find easy places to save money to balance it out.

Why it’s great for young people:

Torabi’s book is funny, concise, and tackles the issues college grads are most likely to come across in their first few years handling their own finances. More importantly, says John Ulzheimer, a credit expert at CreditSesame.com, “You’re So Money” “was written by someone who is actually IN the personal finance space and not just someone who churns out books, so she actually understands the things about which she writes.”

‘I Will Teach You To Be Rich,’ by Ramit Sethi

In a breezy, irreverent style, Sethi lays out a serious six week personal finance program for 20 to 35yearolds who want to master their money with the least amount of effort and then get on with their lives.

Why it’s great for young people:

“‘I Will Teach You To Be Rich’ is hands down the BEST book out there for the younger generation,” says J. Money from Rockstar Finance. “It’s funny, educational, and full of exact ‘how tos.’ And a super easy one at that — which anyone with A.D.D. can appreciate (like me!).”

~~‘If You Can: How Millennials Can Get Rich Slowly,’ by William Bernstein~~

“If You Can: How Millennials Can Get Rich Slowly,” was written by William Bernstein, cofounder of investment management firm Efficient Frontier Advisors, for his grandchildren’s generation. In it, Bernstein offers a short, 7,000word guide to retiring with $1 million in the bank. You can read an excerpt on Business Insider.

~~Why it’s great for young people:~~

Bernstein debunks the “you won’t get Social Security by the time you retire” myth, and explains the hurdles specifically facing the millennial generation. Plus, any cash strapped 20something can get access: He’s giving the book away for free on his website.

~~‘The Millionaire Next Door,’ by Thomas J. Stanley and William D. Danko~~

First published in 1996, “The Millionaire Next Door” distills Stanley and Danko’s findings from more than 20 years of research into seven key characteristics that explain how the elite club of America’s millionaires became rich.

~~Why it’s great for young people:~~

"‘The Millionaire Next Door’ is great for people in their 20s because it talks about the basics of personal finance,” says Rob Gough, cofounder and president of Eckim (DefinitiveDeals.com, CouponChad.com). With simple, commonsense lessons like “spend less than you earn,” “avoid buying status objects,” and “diversify your investments,” the book helps readers develop good habits from the very beginning.

‘Please Send Money: A Financial Survival Guide for

Young Adults on Their Own,’ by Dara Duguay High school students, college students, and recent graduates alike will get a lot out of “Please Send Money,” which couples smart advice with reallife stories detailing the most common financial mistakes made by young people.

Why it’s great for young people:

“This is the single best personal finance book I’ve read for people under 25,” writes Trent Hamm at The Simple Dollar. “If you’re in that category, whether you’re 16 and just thinking about college or 24 and just getting started on a career, there’s a ton of meat in this book for you to think about. Duguay hits a perfect balance between stories of how real collegeage people are dealing with these issues and the concrete advice that’s needed.”

‘Financially Fearless: The LearnVest Program For Taking Control Of Your Money,’ by Alexa Von Tobel

Alexa von Tobel, author of “Financially Fearless: The LearnVest Program For Taking Control Of Your Money,” is known for her role as the founder and CEO of financial planning startup LearnVest. Her book distills the financial planning insight her company gives to its clients.

Why it’s great for young people:

Von Tobel herself is a millennial who started her company in her 20s, and her book is snappy, accessible, and full of relatable anecdotes, like why a fire in her friend’s home made her forever an advocate of renters’ insurance. “Financially Fearless” provides worksheets in the book, and can be accompanied by LearnVest’s online offerings and app.

‘Rich Habits: The Daily Success Habits Of Wealthy Individuals,’ by Thomas Corley

Author Thomas Corley spent five years studying the lives of both rich people (defined as having an annual income of $160,000 or more and a liquid net worth of $3.2 million or more) and poor people (defined as having an annual income of $35,000 or less and a liquid net worth of $5,000 or less), and managed to segment out what he calls “rich habits” and “poverty habits,” meaning the tendencies of those who fit in each group. In “Rich Habits,” he outlines his findings.

Why it’s great for young people:

Habits take a while to build, and the earlier you start, the better. If factors as simple as regular exercise and calling friends on their birthdays can increase your chances of attaining wealth, what have you got to lose?

‘The Investment Answer,’ by Daniel Goldie and Gordon Murray

In “The Investment Answer,” Goldie and Murray provide a general guide to investing by focusing on five decisions every investor has to make. These include whether to invest alone or with a professional; how to allocate among stocks, bonds, and cash; and when to sell or buy assets.

Why it’s great for young people:

“Investing is an important part of personal finance for everybody, but most people hate reading about investing,” says David Welliver, editor of MoneyUnder30.com. “This brief, easytoread book is the most approachable investing book I’ve come across. There are plenty of other good investing books for those that want to get their hands dirty, but for anybody who doesn’t, this is the book to read.”

‘The Little Book of Common Sense Investing,’ by John C. Bogle

“The Little Book of Common Sense Investing,” endorsed by Warren Buffett, tells you specifically how to use index funds to build wealth. Bogle, founder of the Vanguard Group and creator of the world’s first index fund, explains why these relatively straightforward vehicles can be so effective — and warns against investment fads and fashions.

Why it’s great for young people:

Buffett read the first edition of Bogle’s investing manual at age 19, and if it worked for him, it could work for you. “I thought then that it was by far the best book about investing ever written,” he wrote in the preface to the fourth edition. “I still think it is.”

‘Thinking, Fast and Slow,’ by Daniel Kahneman

The Nobelwinning behavioral economist takes readers on a tour of the mind and explains the two systems that drive the way we think — one fast and emotional, the other slow and logical — offering practical insights into how we make choices in both our business and our personal lives.

Why it’s great for young people:

“Personal finance is really nothing but a series of decisions,” says Meg Marco, executive editor of Consumerist. “‘Thinking, Fast and Slow’ will help readers understand what drives them to make the choices they make,” she says, and allows them “access to insights about how the brain works, which can have a profound effect on the decisionmaking process.”

‘The Automatic Millionaire: A Powerful OneStep Plan to Live and Finish Rich,’ by David Bach

Bach delivers a practical, straightforward guide to financial security that starts and ends with the maxim: “Pay yourself first.” Before worrying about taxes or investing or budgeting, focus on paying yourself for the work you do every day by putting money aside for later. Bach emphasizes the importance of using automated payroll deductions to avoid the temptation of using savings to pay today’s bills.

Why it’s great for young people:

“I really appreciate how specific David gets in the book and how simple he keeps the message,” writes Philip Taylor at PTMoney. “I’d recommend ‘The Automatic Millionaire’ to anyone looking for some practical application on simplifying their finances and leaving behind, forever, any excuse for not saving.”

‘Get a Financial Life: Personal Finance in Your Twenties and Thirties,’ by Beth Kobliner

This New York Times bestseller offers young adults a crash course in personal finance in a very readable manner. “Get a Financial Life” jumps straight into the details of paying off student loans and credit card debt, investing, tax rules, insurance, basic banking, and saving for retirement.

Why it’s great for young people:

“There’s not a lot of attitude or fluff, just a lot of good information compressed into a tight package,” writes Trent Hamm at The Simple Dollar. “If that appeals to you (and you’re in the target age range — 20s and 30s), ‘Get a Financial Life’ is probably right up your alley.”

‘DebtFree By 30: Practical Advice For The Young, Broke, And Upwardly Mobile,’ by Jason Anthony and Karl Cluck

Written by two 20somethings who found themselves drowning in debt, “DebtFree by 30” describes their descent into debt and the methods they used to dig themselves out before their 30th birthdays.

Why it’s great for young people:

“‘DebtFree By 30’ covers the basics of prioritizing your debt, finding extra money to pay it down faster and handling situations in which you might be tempted to rack up more debt,” writes Erin Burt at Kiplinger. “Methodically paying off your credit cards may not sound sexy, but this book will make you a believer and give you the tools to pull it off.”

‘The Money Book For The Young, Fabulous & Broke,’ by Suze Orman

Tackling subjects like student loans, credit card debt, and the basics of insurance, “The Money Book” speaks directly to people having to deal with money issues and budgets for the first time.

Why it’s great for young people:

“Most personal finance books seem to be written with the abouttoretire set in mind,” writes Geoffrey James at Inc. “In this sprightly offering, TV star Suze Orman helps millennials navigate the basics of the financial world, like coping with huge student loans and a job market that, for young people, is nearly as dismal as the Great Depression.”

‘Automatic Wealth for Grads,’ by Michael Masterson

Masterson takes a unique approach in “Automatic Wealth for Grads,” and Trent Hamm of The Simple Dollar points out that the advice within assumes that you are fresh out of school with zero debt. Rather than focusing on the nuts of bolts of budgeting and paying off debt, the book jumps straight into building a career and accumulating wealth.

Why it’s great for young people:

In a concise and readable manner, Masterson delivers smart advice for ambitious grads looking to jump start their career and grow their money right off the bat. He dives into topics ranging from the miracle of compound interest, to finding a career you’re passionate about, to how to start a multimillion dollar business. If you’re looking to break free of student loans or credit card debt, this book may not be right for you, but it is a great read for those lucky enough to leave school debtfree.

Three books that will make you smarter - Charlie Munger

Mr. Munger’s recommendations :

*The Warren Buffet Portfolio - Robert G. Hagstrom * Not only very well written but a considerable contribution to the synthesis of human thought on the investment process. It illuminates how the investment process really works if you think about it rationally.
Titan: The Life of John D. Rockefeller, Sr. - Ron Chernow One of the best business biographies and a good family story too. It is a wonderful book.
Guns, Germs, and Steel - Jared Diamond
(David Landes’s take on the subject of 3rd book) The Wealth and Poverty of Nations

Investing in Stocks for Beginners | The Motley Fool

Matthew Frankel, CFP fool.com

Here’s what you need to know to get started building wealth through the stock market.

Updated: Jun 4, 2021 at 11:08AM

If you’re ready to start in the but aren’t sure which stocks to choose, you’ve come to the right place. There are a few characteristics of stocks that are good for beginners, as well as some practices beginners should specifically avoid when selecting the first companies for their portfolios.

Here’s a rundown of what every should look for and stay away from when choosing your first stocks, as well as a few examples of excellent beginner-friendly stocks to help get your search started.

Assess your goals for investing

First off, ask yourself why you are in the . Do you want to build wealth for retirement, save for your kids’ education, or just collect some money for a rainy day? A general rule of thumb is that you shouldn’t invest in stocks with money you’ll need within the next three to five years, and longer time horizons are even better. The can fluctuate quite a bit over shorter periods, so before you invest, be sure you understand your and that you’re mentally prepared to ride out the ups and downs.

Getting started investing in stocks

Before you start in stocks, you’ll need to open a . You can compare the features of some of the best online brokers to find one that is the best fit for you. Some offer excellent resources for beginners such as educational tools, access to research, and more. Also, be aware that while basic online is generally free at all major brokerages, many have other fees you should know about, and some have minimum amounts.

What makes an a good ?

You might hear experienced investors talk about the concept of a “wide moat,” especially if you’re reading anything about Warren Buffett’s style. Just as a wide moat around a castle makes it difficult for enemies to invade, a sustainable competitive advantage will prevent competitors from stealing a company’s share. That’s the kind of moat a great beginner will have.

Such an advantage can take many forms, but they aren’t terribly difficult to spot if you know what to look for. The majority of sustainable competitive advantages typically fall into one of these categories:

Network effects: In simple terms, a network effect occurs as more people use a service or product and the product or service itself becomes more valuable and desirable as a result. Think of companies such as Facebook (NASDAQ:FB). As more and more people join Facebook, it becomes more difficult for people not to use the platform in their daily lives.
Cost advantages: A business can have a few different types of cost advantages. For example, an efficient distribution network can make it cheaper for a company to get its product around the country. A well-known brand name can give a company the ability to charge more than its rivals. A proprietary manufacturing process can make it cheaper to produce a product.
Intangible assets: In addition to a brand name, patents are a great example of an intangible asset that can protect a company against its competitors. For example, its portfolio of more than 44,000 patents is one of the main reasons BlackBerry (NYSE:BB) still has quite a bit of value, even though it doesn’t sell many phones these days.
Sector leadership: Most of the best starter stocks are either leaders in their respective fields or very close to it.

3 basic metrics every should know

Knowing how to identify great businesses is more important than being able to identify cheap stocks. A great business will typically be a good long-term performer, even at a bit of an expensive valuation. On the other hand, a bad business you invest in at a cheap valuation will seldom work out well.

Once you’ve learned how to find good businesses, some basic metrics can help you narrow them down:

P/E ratio: The price-to-earnings ratio is the most widely cited valuation metric. Simply divide a company’s current share price by its past 12 months’ worth of earnings. You can also use the projected earnings over the next 12 months to calculate the forward P/E ratio.
PEG ratio: The price-to-earnings-growth ratio levels the playing field for P/E shortfalls. Simply divide the company’s P/E ratio by its projected earnings growth rate. For example, a company with a P/E of 30 and a 15% expected growth rate has a PEG ratio of 2.0.
Payout ratio: The payout ratio measures the annual dividend rate expressed as a percentage of its earnings, which sheds light on dividend stability. For example, if a company paid out $1 in dividends per share last year and earned $2, it has a 50% payout ratio.

You can learn many other metrics, some of which can help you find value stocks and some of which can help you evaluate fast-growing companies or growth stocks.

Man and woman in living room looking at investing news on a laptop

Stocks beginners should avoid

The last thing we need to cover is what you should avoid as a beginning investor. Investing in the wrong type of stock can make your portfolio’s value look like a roller coaster and can even cause you to lose your entire investment.

With that in mind, here’s what you’d be wise to stay away from at first:

Rapidly growing companies: This is especially true for companies that have yet to turn a profit. Growth investing can be a great way to build wealth, but it can be volatile. It’s a good idea to wait until you’ve built up a base for your portfolio and understand stocks better before you try to invest in the next big thing.
Penny stocks: Loosely defined as stocks with a market value of less than $200 million, share prices of less than $5, or don’t trade on major exchanges, penny stocks should be avoided by all investors, not just beginners.
IPOs: IPOs, or initial public offerings, are how companies become publicly traded. Investing in newly public companies can be highly volatile and is generally not a good way for beginners to buy stocks.
Businesses you don’t understand: Here’s a great rule of thumb that works for beginners and expert investors alike. If you can’t clearly explain in a sentence or two what a company does and how it makes money, don’t invest in it. There are literally thousands of publicly traded companies to choose from, and you should be able to find plenty of opportunities in easy-to-understand businesses.

How to get started investing in the stock market

Once you’ve decided that you want to buy stocks, the next step is to open a brokerage account, fund the account, and buy shares. After you’ve done that, it’s important to keep a long-term mentality. For example, if your stocks go down, it can be very tempting to panic and sell. Remember how carefully you chose them and avoid selling your stocks without fully exploring the company’s situation.

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Matthew Frankel, CFP has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook. The Motley Fool recommends BlackBerry. The Motley Fool has a disclosure policy.

Software based and human interaction advisors:

Software based:

Wealth frost
Betterment
SigWig
Charles Schwab Intelligent Investor

Human interaction based:

Personal Capital
Vanguard Advisor
LearnVest

Benefits of software advisors:
daily automatic tax loss harvesting
automatic portfolio rebalancing
risk tolerance adjsutment

Also, look into Mad Fientist

Miscellaneous book suggestions

The art of money getting by P.T.Barnum.epub (Found in the collection)
Reminiscences of a Stock Operator by Edwin Lefevre.epub’ (Found in the collection)
The Accumulation of Capital by Rosa Luxemburt.epub’ (Found in the collection)
The New York Stock Exchange in the Crisis of 1914 by Henry George Stebbins Noble.epub’ (Found in the collection)
How to invest money by George Garr Henry.epub (Found in the collection)
Index Funds: The 12-Step Program for Active Investors
Bogle on Mutual Funds, New Perspectives for the Intelligent Investor
Unconventional Success: A Fundamental Approach to Personal Investment
The Only Guide to a Winning Investment Strategy You’ll Ever Need: The Way Smart Money Preserves Wealth Today
The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
Pillars of Prosperity: Free Markets, Honest Money, Private Property
A History of Money and Banking in the United States: The Colonial Era to World War II
The Only Guide to a Winning Investment Strategy You’ll Ever Need: The Way Smart Money Preserves Wealth Today
King Icahn : A book about Carl Icahn
Barbarians at the gate
David Graeber : Debt
How to Get Rich by Felix Dennis -

‘Making money is a knack, a knack that can be acquired. And if someone like me can become rich, then so can you - no matter what your present circumstances. Here is how I did it and what I learned along the way.’ So writes Felix Dennis, who believes that almost anyone of reasonable intelligence can become rich, given sufficient motivation and application.

How To Get Rich is a distillation of his business wisdom. Primarily concerned with the step-by-step creation of wealth, it ruthlessly dissects the business failures and financial triumphs of ‘a South London lad who became rich virtually by accident’. Part manual, part memoir, part primer, this book is a template for those who are willing to stare down failure and transform their lives.

Canny, infuriating, cynical and generous by turns, How To Get Rich is an invaluable guide to ’the surprisingly simple art of collecting money which already has your name on it’.
Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell
Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse
Portfolios of the Poor: How the World’s Poor Live on $2 a Day
Human Action: A Treatise on Economics
Pillars of Prosperity: Free Markets, Honest Money, Private Property
How an Economy Grows and Why It Crashes
A History of Money and Banking in the United States: The Colonial Era to World War II
The Power Broker: Robert Moses and the Fall of New York
Index Funds: The 12-Step Program for Active Investors
Bogle on Mutual Funds, New Perspectives for the Intelligent Investor
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger
A Random Walk Down Wall Street: Completely Revised and Updated Edition
The Only Guide to a Winning Investment Strategy You’ll Ever Need: The Way Smart Money Preserves Wealth Today
Freakonomics: A Rogue Economist Explores the Hidden Side of Everything
Common Stocks and Uncommon Profits and Other Writings
The four pillars of investing : lessons for building a winning portfolio
The Two-Income Trap: Why Middle-Class Parents Are (Still) Going Broke
The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution by Gregory Zuckerman
https://www.goodreads.com/author/show/103275.Douglas_R_Andrew (books about finance)

(FOUND IN THE COLLECTION)
The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
$100M Offers: How To Make Offers So Good People Feel Stupid Saying No
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
Rich Dad's Cashflow Quadrant: Guide to Financial Freedom

Investing for retirement

Roth IRA Contribution Limits

The annual contribution limits are much smaller with Roth IRA accounts than for 401(k)s. For 2023, the maximum annual contribution for a Roth IRA is:

$6,500 if you’re under age 50. $7,500 if you are age 50 or older.

https://www.investopedia.com/ask/answers/100314/whats-difference-between-401k-and-roth-ira.asp

https://www.financestrategists.com/retirement-planning/401k/401k-vs-roth-ira/

Reading material

Look at these articles.

10 things you can learn about money in 10 minutes that will change your life
How to Implement the Bucket System
5 Money Rules That Will Increase Your Net Worth
15 Personal-Finance Lessons We Can All Learn From the Year of Covid-19
This is the Number 1 way to get rich—and most young people are not doing it
What is a robo-advisor? An introduction to automated investment tools
It is hard to frugal your way to early retirement
How to Invest and Buy Shares in the Stock Market
Using U.S. Savings Bonds as a Long-term Investment

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