10 must-read books on money & investing (and the top 3 lessons from each):
1) One Up On Wall St. by Peter Lynch
Lessons:
• Invest in what you understand
• Be patient & hold your investments for the long term
• Take advantage of market downturns to buy stocks at a discount
• Look for companies with strong growth potential and competitive advantages
Lessons:
• Invest in what you understand
• Be patient & hold your investments for the long term
• Take advantage of market downturns to buy stocks at a discount
• Look for companies with strong growth potential and competitive advantages
2) Intelligent Investor by Benjamin Graham
Lessons:
• Avoid emotional investing decisions
• Invest in undervalued stocks with a margin of safety
• Focus on the long-term outlook and avoid short-term speculation
Lessons:
• Avoid emotional investing decisions
• Invest in undervalued stocks with a margin of safety
• Focus on the long-term outlook and avoid short-term speculation
3) Little Book of Common Sense Investing by John Bogle
Lessons:
• Invest in low-cost index funds rather than picking stocks
• Diversify your portfolio across different asset classes
• Avoid trying to time the market or chasing after high-risk investments
Lessons:
• Invest in low-cost index funds rather than picking stocks
• Diversify your portfolio across different asset classes
• Avoid trying to time the market or chasing after high-risk investments
4) Psychology of Money by Morgan Housel
Lessons:
• Develop a long-term mindset & avoid impulsive decisions
• Understand psychological biases & how they affect your financial decisions
• Avoid getting caught up in short-term market fluctuations & trying to time the market
Lessons:
• Develop a long-term mindset & avoid impulsive decisions
• Understand psychological biases & how they affect your financial decisions
• Avoid getting caught up in short-term market fluctuations & trying to time the market
5) I Will Teach You To Be Rich by Ramit Sethi
Lessons:
• Focus on earning more through negotiation & side hustles
• Automate your finances to save time & avoid missed payments
• Negotiate for better rates and fees on your bills & services like credit cards and bank accounts
Lessons:
• Focus on earning more through negotiation & side hustles
• Automate your finances to save time & avoid missed payments
• Negotiate for better rates and fees on your bills & services like credit cards and bank accounts
6) Rich Dad Poor Dad by Robert Kiyosaki
Lessons:
• Seek out mentors and advisors to learn from their experiences
• Invest in yourself through education and personal development
• Acquire income-producing assets that generate passive income
Lessons:
• Seek out mentors and advisors to learn from their experiences
• Invest in yourself through education and personal development
• Acquire income-producing assets that generate passive income
7) Total Money Makeover by Dave Ramsey
Lessons:
• Develop and stick to a budget to manage your finances
• Pay off debt and avoid taking on new debt whenever possible
• Build an emergency fund to cover unexpected expenses and avoid debt
Lessons:
• Develop and stick to a budget to manage your finances
• Pay off debt and avoid taking on new debt whenever possible
• Build an emergency fund to cover unexpected expenses and avoid debt
8) The Simple Path to Wealth by JL Collins
Lessons:
• Invest in low-cost index funds and avoid high-risk stocks
• Have patience and a long-term mindset when it comes to investing
• Prioritize financial independence and avoid overspending on unnecessary purchases
Lessons:
• Invest in low-cost index funds and avoid high-risk stocks
• Have patience and a long-term mindset when it comes to investing
• Prioritize financial independence and avoid overspending on unnecessary purchases
9) Millionaire Next Door by Thomas Stanley
Lessons:
• Live below your means and prioritize investing
• Build wealth by investing in assets that appreciate over time
• Avoid overspending on status symbols and prioritize financial independence
Lessons:
• Live below your means and prioritize investing
• Build wealth by investing in assets that appreciate over time
• Avoid overspending on status symbols and prioritize financial independence
10) Think & Grow Rich by Napoleon Hill
Lessons:
• Develop clear & specific goals and visualize your success
• Surround yourself with mentors & positive influences who support your goals
• Take consistent action to achieve your goals, and persist through challenges & setbacks
Lessons:
• Develop clear & specific goals and visualize your success
• Surround yourself with mentors & positive influences who support your goals
• Take consistent action to achieve your goals, and persist through challenges & setbacks
Reading is a great way to introduce new ideas to yourself. If you found this thread helpful:
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• RT the FIRST tweet🔁
• Follow me @FluentInFinance
• Sign-up for my FREE newsletter to about money: FluentInFinance.Substack.com!
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