I’ve been rather fixated with money and finances since I was a kid beating my friend's parents at Monopoly. I majored in economics and had a few rough years financially graduating into the depths of the great recession in 2010. In 2013 I completed my Master’s in finance and economics, took a day job in economic research, and have been moonlighting as a finance writer for the past five years.
The entire concept of The Investor’s Mindset can be summarized by this Warren Buffett quote: “To invest successfully does not require a stratospheric IQ, unusual business insights, or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding the framework.”
The book has two parts. In part 1, I help readers build the “sound intellectual framework” to manage their finances and build a profitable investment portfolio. In part 2, I guide readers through the hardest part of investing “keeping emotions from corroding the framework.” I review the cognitive biases that make people naturally bad at long-term investing and provide tips on cultivating a “rationally optimistic” mindset to stay invested for the long run.
The Simple Path to Wealth is hard to beat as an introduction to investing.
This book has a singular message; invest in a U.S. stock market index fund and call it a day. Every page in the book, brings the reader back to that conclusion. While I have small quibbles with some issues (such as international diversification being glossed over,) if you find investing confusing or overwhelming this book is a fantastic place to start as it simplifies investing.
“In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart.” -- Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffian
This book grew out of a series of letters to my daughter concerning various things—mostly about money and investing—she was not yet quite ready to hear.
This books takes the opposite approach to The Simple Path To Wealth; it covers a vast range of financial topics and historical figures while diving deep into the mathematics of a rational retirement plan. This book can be a challenging read at times, but it will make you smarter. Consider this a graduate school-level education in retirement.
The 800 years of scientific breakthroughs that will help salvage your retirement plans
Physics, Chemistry, Astronomy, Biology; every field has its intellectual giants who made breakthrough discoveries that changed the course of history. What about the topic of retirement planning? Is it a science? Or is retirement income planning just a collection of rules-of-thumb, financial products and sales pitches? In The 7 Most Important Equations for Your Retirement...And the Stories Behind Them Moshe Milevsky argues that twenty first century retirement income planning is indeed a science and has its foundations in the work of great sages who made conceptual and…
You might be thinking, what is a philosophy book doing on a list of books to make me a better investor?
Here’s a bit of a secret about investing; learning the technical details about how to build a portfolio is the easy part. The hard part is staying cool during market crashes, bear markets, and recessions. The easiest way to lose money as an investor is to panic sell at the worst possible time.
The philosophy of stoicism is defined by focusing our attention on only the things we can control and making peace with the things we can’t. That is also the definition of a great long-term investor. You can’t control the markets but you can control how you react.
The beloved classic daily devotional of Stoic meditations—the only authorized print edition in the US and complete with a ribbon marker—with more than two million copies sold!
Why have history's greatest minds—from George Washington to Frederick the Great to Ralph Waldo Emerson, along with today's top performers from Super Bowl-winning football coaches to CEOs and celebrities—embraced the wisdom of the ancient Stoics? Because they realize that the most valuable wisdom is timeless and that philosophy is for living a better life, not a classroom exercise.
The Daily Stoic offers 366 days of Stoic insights and exercises, featuring all-new translations from…
Can you have a top five investing book list without including the most popular book published this century in this genre?
Any good book on finance must balance the need to simplify a complex topic for a wide audience while not leaving out important details and context. The Psychology of Money threads that needle and is both an easy read and filled with nuggets of wisdom that can help you make better decisions with money.
Doing well with money isn't necessarily about what you know. It's about how you behave. And behavior is hard to teach, even to really smart people.
Money-investing, personal finance, and business decisions-is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don't make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.
In The Psychology of Money, award-winning author Morgan…
This book provides a crash course in just about every aspect of managing money, from budgeting to paying off debt to investing.
If you want to be able to stay invested long enough for compound interest to work its magic your personal finances have to be in order. This book covers all the basics to help you manage your money.
The groundbreaking NEW YORK TIMES and WALL STREET JOURNAL BESTSELLER that taught a generation how to earn more, save more, and live a rich life—now in a revised 2nd edition.
Buy as many lattes as you want. Choose the right accounts and investments so your money grows for you—automatically. Best of all, spend guilt-free on the things you love.
Personal finance expert Ramit Sethi has been called a “wealth wizard” by Forbes and the “new guru on the block” by Fortune. Now he’s updated and expanded his modern money classic for a new age, delivering a simple, powerful, no-BS 6-week…
Everything you need to know to plan for your own safe, financially secure, healthy, and happy old age.
For those who have no support system in place, the thought of aging without help can be a frightening, isolating prospect. Whether you have friends and family ready and able to help you or not, growing old does not have to be an inevitable decline into helplessness. It is possible to maintain a good quality of life in your later years, but having a plan is essential. Who Will Take Care of Me When I'm Old? Equips readers with everything they need to prepare on their own:
Advice on the tough medical, financial, and housing decisions to come
Real solutions to create a support network
Questions about aging solo readers don't know to ask
Customizable worksheets and checklists that help keep plans on course
Guidance on new products, services, technology, and resources
Who Will Take Care of Me When I'm Old?: Plan Now to Safeguard Your Health and Happiness in Old Age
For those who have no support system in place, the thought of aging without help can be a frightening, isolating prospect. Whether you have friends and family ready and able to help you or not, growing old does not have to be an inevitable decline into helplessness. It is possible to maintain a good quality of life in your later years, but having a plan is essential. WHO WILL TAKE CARE OF ME WHEN I'M OLD? equips readers with everything they need to prepare on their own:
* Advice on the tough medical, financial, and housing decisions to come *…
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