Rich Dad, Poor Dad, byRobert T. Kiyosaki and SharonLechter
Rich Dad,Poor Dad is a personal finance bestseller. Written in 1997, it advocates the importance of financial educationand building wealth through passive income streams. The book is Robert’s story of growing up with two dads – his real father and the “rich dad” of his best friend – and how they shaped his approach to investing. The authors believe you don’t need a high income to become rich and that readers should focus on assets that generate income rather than liabilities. Advocates say it is inspirational and even life-changing,but critics say Robert is little more than an extremely successful marketer.
Investing Demystifiedby LarsKroijer
This book takes the reader through the different factors thatshouldbetaken into accountwhen building an investment portfolio.Its overall argument is that it is almost impossible to beat the market. Investors shouldbuild a simple and rational portfolioof cheap world equity index trackersand then leave itmostlyuntouched to get the benefit oflong-termgrowth.Written by former hedge fundmanagerLarsKroijer,it aims to simplify the investing process for people who don’t have much time on their hands orwho feel overwhelmed by the stock market.
The SimplePath toWealth, byJL Collins
JLColllins’ Simple Path to Wealth is highly cited among followers of the Fire movement(Financial Independence, Retire Early).Collins message to readers isthey everyone can achievefinancial freedomearly(ienot having in to work for a living)by focusing on a simple investing strategy from a young age. The book is written with US investors in mind, but theprinciples still apply to UK investors.“This book and meeting JL Collins changed my entire way of investing and has been a big part of my journey tofinancial independence which I hit last year,” says Alan Donegan, who retired at the age of 40.
How to Save It, by Bola Sol (published 07/01/2021)
This has been written byfinancial wellness guru Bola Sol, amathsand finance graduate whogrew up as one of six children to a single mother.“I’ve seen what [money]can do so I work hard to find investments, build my net worth and ensure that I enjoy a richer future,” she explains.How to Save It, Sol’sfirst book,aims to guide readersthrough all the money essentials – from saving, to budgeting, dealing with debt, buildingcredit and taking the first steps to investing.
It’s being published byMerkyBooks,a publishing collaboration between rap artistStormzyand Penguin.
Simple Wealth, Inevitable Wealthby Nick Murray
Jason Barefoot, chartered financial planner at Ascot Lloyd, recommendsSimple Wealth, Inevitable Wealthby Nick Murray. He says: “It’s an expense at £50 last time I looked, but no wiser words have been said in any investment book I’ve read. The value contained within these pages will provide compounded returns to an investor that far exceeds the initial outlay by a considerable factor. In short the book offers an understanding of what risk is to your long-term requirements and how best to negate it historically.”
Reset, by David Sawyer
Resetis aimed at mid-life professionals who feel they are stuck in a rut with their career and personal life.It promotes the idea of gaining financial independenceand retiring early. Unlike other books about the Fire movement, which tend to be written by US authors,Reset is written by46-year-oldPR executive David Sawyerwho is based in Glasgow.The book was written in 2018and details Sawyer’s journey to financial independence, which he plans to achieve within the next 10 years.
Money: A User’s guide, by Laura Whateley
The emphasis of this book is less on investing, and more about creating good money habits in general. Aimed at UK readers under the age of 40, it is a practical handbook on all things personal finance. Written by former Times consumer columnist Laura Whateley, it explains everything from mortgages and pensions to property and ethical finance in an accessible way. “A handy, chatty, sympathetic and wide-ranging guide that assumes no financial knowledge at all and doesn’t get bogged down in too much detail,” says one online reviewer.
TheMeaningful Money Handbook, by Pete Matthew
Pete Matthew is a chartered financial planner, based in Cornwall, who runs the popular Meaningful Money podcast and Facebook group. His book, published in 2018, guides the reader in howto build a secure financial future for themselves and their family. The book is aimed at people starting out on their personal finance journey. He focuses on three priorities: Spend less than you earn and avoid debt, insure against disaster and invest your savings wisely.
