Understanding money is the most important skill in life so here are 9 books on money that everyone should read (and their top 3 lessons):
1) Psychology of Money by Morgan Housel
Lessons:
β’ Develop a long-term mindset & avoid impulsive decisions
β’ Understand psychological biases & how they affect your financial decisions
β’ Avoid getting caught up in short-term market fluctuations & trying to time the market
Lessons:
β’ Develop a long-term mindset & avoid impulsive decisions
β’ Understand psychological biases & how they affect your financial decisions
β’ Avoid getting caught up in short-term market fluctuations & trying to time the market
2) One Up On Wall St. by Peter Lynch
Lessons:
β’ Invest in what you understand
β’ Be patient & hold your investments for the long term
β’ Take advantage of market downturns to buy stocks at a discount
β’ Look for companies with strong growth potential & competitive advantages
Lessons:
β’ Invest in what you understand
β’ Be patient & hold your investments for the long term
β’ Take advantage of market downturns to buy stocks at a discount
β’ Look for companies with strong growth potential & competitive advantages
3) Millionaire Next Door by Thomas Stanley
Lessons:
β’ Live below your means & prioritize investing
β’ Build wealth by investing in assets that appreciate over time
β’ Avoid overspending on status symbols & prioritize financial independence
Lessons:
β’ Live below your means & prioritize investing
β’ Build wealth by investing in assets that appreciate over time
β’ Avoid overspending on status symbols & prioritize financial independence
4) Think & Grow Rich by Napoleon Hill
Lessons:
β’ Develop clear & specific goals and visualize your success
β’ Surround yourself with mentors & positive influences who support your goals
β’ Take consistent action to achieve your goals, and persist through challenges & setbacks
Lessons:
β’ Develop clear & specific goals and visualize your success
β’ Surround yourself with mentors & positive influences who support your goals
β’ Take consistent action to achieve your goals, and persist through challenges & setbacks
5) The Simple Path to Wealth by JL Collins
Lessons:
β’ Invest in low-cost index funds and avoid high-risk stocks
β’ Have patience and a long-term mindset when it comes to investing
β’ Prioritize financial independence & avoid overspending on unnecessary purchases
Lessons:
β’ Invest in low-cost index funds and avoid high-risk stocks
β’ Have patience and a long-term mindset when it comes to investing
β’ Prioritize financial independence & avoid overspending on unnecessary purchases
6) Bogleheads' Guide to Investing
Lessons:
β’ Investing is a long-term game, don't try to time the market
β’ Don't panic sell, remember that the market will eventually recover
β’ Don't let emotions drive decisions, it's important to not let fear dictate your actions
Lessons:
β’ Investing is a long-term game, don't try to time the market
β’ Don't panic sell, remember that the market will eventually recover
β’ Don't let emotions drive decisions, it's important to not let fear dictate your actions
7) Irrational Exuberance by Robert Shiller
Lessons:
β’ Invest long-term, don't let short-term fluctuations scare you
β’ The media can promote overly optimistic narratives
β’ Avoid herd mentality, rational decisions can protect you from speculative bubbles or panic selling
Lessons:
β’ Invest long-term, don't let short-term fluctuations scare you
β’ The media can promote overly optimistic narratives
β’ Avoid herd mentality, rational decisions can protect you from speculative bubbles or panic selling
8) Little Book of Common Sense Investing by John Bogle
Lessons:
β’ Invest in low-cost index funds rather than picking stocks
β’ Diversify your portfolio across different asset classes
β’ Avoid trying to time the market or chasing after high-risk investments
Lessons:
β’ Invest in low-cost index funds rather than picking stocks
β’ Diversify your portfolio across different asset classes
β’ Avoid trying to time the market or chasing after high-risk investments
9) Intelligent Investor by Benjamin Graham
Lessons:
β’ Avoid emotional investing decisions
β’ Invest in undervalued stocks with a margin of safety
β’ Focus on the long-term outlook and avoid short-term speculation
Lessons:
β’ Avoid emotional investing decisions
β’ Invest in undervalued stocks with a margin of safety
β’ Focus on the long-term outlook and avoid short-term speculation
Reading books is the best way to learn new things and improve yourself. These threads take time to write so if you found it helpful, please:
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β’ Follow me @FluentInFinance
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β’ RT the FIRST tweet to shareπ
β’ Follow me @FluentInFinance
β’ Sign-up for my FREE newsletter to learn more: TheMoneyNewsletter.com!
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