Six books about money to read over the festive period
Written by Carl Turner on December 11, 2017.
The end of the year is almost upon us and for the majority of us that means some time off over the festive season. What better time to catch up with some reading? Some of the world’s most successful business people are renowned for being avid readers including Richard Branson, Warren Buffet and Benjamin Franklin. So why not take a leaf out of their book and have a look at some titles which could benefit your personal finances. Here is a list of six books I recommend that you look at when work slows down.
1. How to make your money last: the indispensable retirement guide by Jane Bryant Quinn
Many of my clients fear running out of money in their old age but it’s a scenario that is easy to avoid… if you plan ahead. This book talks you through how to ensure that you have enough money saved when you stop working and how to make it last over your, hopefully lengthy, retirement.
2. Rich Dad, poor Dad by Robert Kiyosaki
Kiyosaki, a respected finance guru, claims that this is the best selling personal finance book of all time. It tells the story of his two ‘dads’ – the real one, a well educated man who was an employee but struggled financially all his life, and the adopted one, a savvy entrepreneur who had a less privileged start in life but became one of Hawaii’s wealthiest men as well as Kiyasaki’s mentor. The book explores two very different attitudes towards money and investing for the future and makes for a fascinating read which may challenge your pre-conceived ideas on these topics.
3. The millionaire next door: the surprising secrets of America's wealthy by Thomas J. Stanley & William D. Danko
There is a difference between being wealthy and having a high income. Many of those who earn a lot of money fail to accumulate wealth and often the wealthiest among us are those who live below their means, save diligently and work hard over many years. The authors of this book have personally interviewed many American millionaires in order to identify seven common traits that they share. This is an uplifting read for anyone wanting to grow their wealth but without the benefit of a privileged upbringing and expensive education.
4. Investing 101: From stocks and bonds to ETFs and IPOs, an essential primer on building a profitable portfolio by Michele Cagan
This is the equivalent of an investment guide for dummies – it covers all the major principles of investing in a clear, concise and easy-to-follow way and offers excellent advice on everything from understanding your tolerance to risk to building a balanced portfolio made up of different types of investment. A great read if you are considering dipping a toe in into the world of stocks, shares and bonds.
5. Make your kid a money genius (even if you're not): A parent's guide for kids by Beth Kobliner
All parents want financial security for their children and the way to achieve that is not simply by shelling out cash but by teaching them the value of money and how to manage it. They say that basic money habits are formed by the age of seven so your child’s financial education is best started at a young age. It’s up to you as a parent to provide it because there is a still a distinct lack of input from schools on this crucial subject. Lessons such as learning to live within your means, delaying gratification and the benefits of saving can be taught to very young children and this book gives some great advice on how to do that for children right through from toddlers to young adults.
6. 12 steps to financial success for international expatriates by Carl Turner
Well, I couldn’t write a list of finance-based books to read without including my own! I wrote this easy-to-follow 12 step guide on how to take control of your own financial planning based on my experience as a financial planner. I go right back to the fundamentals starting with defining your financial goals. These will act as your roadmap and without them you won’t know where you are trying to get to. Each chapter takes a key element of financial planning from life and health insurance to saving for retirement and estate planning with practical steps to take. Once you’ve worked through each chapter your financial independence will be guaranteed and you’ll have the peace of mind that whatever life throws at you, you will have the tools to deal with it. I’ve based the book on the wealth of experience I have gained working with clients from all over the world.