Below is an edited email of a list of book recommendations I sent some classmates for my MBA who requested some personal finance books. I’ve read all the below books if you’d like to discuss them further.
Below is my recommendation for 2 books that I would say are the best 2 to read about investing. They have good information and are relatively easy to read.
I would start with this one.
The first book is - What Color is the Sky: The world of investing is full of illusions that stop you from seeing reality. If you push the clouds aside, the truth will appear. -by Michael Finley
Each chapter is 2 pages. It is very easy to read and right to the point on every topic. It also has a list of various books that he references that you could add to your reading list.
This one will give you a lot of concrete actionable things to do also.
Here is Mike Finley’s website.
He has more books also but they are more specific to certain situations.
He also has an investing specific areas on his website. He also has videos of seminars he has given. A lot of the same data from class. He also has example portfolios.
The 2nd book is
The Simple Path to Wealth: Your road map to financial independence and a rich, free life Paperback – by J L Collins The book is great.
The book was created from this list of blog posts on his website called “The JL Collins Stock Series”. This is the most comprehensive. It is a bit long. If you just read through this whole thing you should probably know everything you need to know about investing.
There are 35 posts. So you could pick the ones you are interested in by title also instead of reading all 35. If you read all 35 of these, you should know just about all you need to know.
This is not a book, but it's a great blog.
Below are 4 more book recommendations. The top 2 are more "hard" data. Do this.
The bottom 2 are a little easier reads but not quite as concrete actionable information. I'd read the above 2 books before reading these 4.
Index Funds: The 12-Step Program for Active Investors – by Mark T Hebner – this one is great. It walks through all the ways you can’t beat the market and why index funds are the best. It is a bit dry.
Winning the Loser’s Game, 6th edition: Timeless Strategies for Successful Investing – Charles D. Ellis – This one is very detailed data.
The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness Morgan Housel, Chris Hill – This one is good, but not as many hard answers.
Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required – (Audible) Kristy Shen, Bryce Leung – This one is ok. But pretty basic. Would put this towards the bottom of the list. But I provide it as it’s a little different than the rest and some people consume information a bit differently so it might be good for you if one of the above books wasn’t!
If anyone is interested in talking financial advising or starting a financial advising relationship I'd be happy to have a 1 hour free consultation where you can ask me whatever you want.
After 1 hour we can discuss setting up a formal financial advising agreement, which could be hourly or for a whole financial plan.
Hope you can get some use from the above books.
Contact me at hooglandaxel@highland-wealthmanagement.com