Recommended Reading for Investing

[Ainslie99]

A large theme from the forum is to research & read
To this end I thought it would be good if people could recommend books that have helped them on their investment journey

So, I'll kick the ball of and tell you about Ashely Ormond's book "$1 million for life, how to make it, manage it, maximise it."

The book is divided into the themes of:
Money Sense- spending less than you earn
Own your house outright- paying it off as soon as possible
Investing in Super - how to use it (includes SS into additional super funds)
Invest outside Super - shares, property, other asset classes
Protection - Insurance
Do what you love doing

What I like about this book is that it gives real examples and gives you a plan of attack. As it Australian it has relevant and pertinent information. Having read all the RK books, I couldn't really understand how to implement as he is vague on how to do it. This book has given me a clear idea of how to enhance what I am already doing in ways I would never have thought of eg. salary sacrificing into an additional super fund (thought I was too young) .

It may be a bit simplistic for some but for me it was the first financial planning book that made sense. More importantly, it presented a balanced view of both shares and property and leaves it up to the reader as to what they want to do. He has also done one aimed at parents with young children.

For those of you in canberra it is available through the act library, but you will have to wait as I have it out at the moment!

Let me know what you think about it when you read it.

 

[Alex P Keaton]

I have read heaps in the last year that i got out from the library. I wish I had written down the title and author for the ones i thought were good.

Millionaire next door
Somers
Yardney
Lomas

are just a few off the top of my head

Took me a while to find Millionaire next door. Now I'm looking for Richest Man in Babylon

 

[Rob Williams]

Good selection. I'd probably add:
Secrets of the Millionaire Mind (mindset)
Wealth for Life (property investing)

 

[DanielG]

What does everyone think of rich dad poor dad?

 

[mja]

What does everyone think of rich dad poor dad?

I think you'll find that this book is responsible for a lot of people getting off their backsides and on the road of investing.

I'd recommend some autobiographies/biographies. I've just finished Richard Branson's autobiography (Losing my Virginity), and I'm starting Warren Buffet's Biography (The Snowball). Fascinating reading.

Also suggest searching the threads - there has been threads like this one numerous times.

 

[Mich]

i've listened to all of R Kiyosaki's audio books to date and I recommend it to anyone - especially in the current global market.

if i may paraphrase, having a job is not safe and secure. i.e. I could loose my job next year for all I know (despite my experience and skills). so it pays to get educated, get help, invest and secure your financial future because no one will do it for you.

ps. the Cashflow 101 game is great too.

 

[Angelo]

Think and grow rich by Napolian Hill is a classic must read. It's probably not a bad idea to get it on Audio and listen to it a few times.

 

[josko]

One Minute Millionaire and Donald Trumps- Think Big and Kick ***! (Butt!)

Regards JO

 

[man of action!]

The Richest Man In Babylon.

Read the book front to back twice over (it wont take you very long), then implement this super easy strategy and you will NEVER, EVER, EVER have money problems again in your life!!!

Essential reading for everyone... even if they have already started investing or made good money.

 

[Ainslie99]

Thanks for the suggestions Rob, I have just read the Millionaire Women Next Door which is part of the series. As you say, it is all about mindset, that and spending less than you earn. I'm not sure that I agree with the continued use of the work "frugal" in the book, to me a better word would be "sensible."

Right, now I will request the Napoleon Hill book from the library.