Investing is the key to wealth, long-term stability, erasing debt, and property ownership. Investing has become a more accessible path to many – no longer just a tool of the rich, those of modest means are now able to invest in low-sum mutual funds, use apps like Acorn to invest spare change, and open high-yield money market accounts with very little cash down.
As easy as it has become to start out that first mutual fund or stock purchase, investing still remains a field that one must research and keep up to date on – especially for those just beginning their first investments to save for everything from grad school to retirement. Here are five great books about investing.
Investing for Dummies
This comprehensive book by MBA Eric Tyson provides new investors with a crash course on investing practices, investment types, and tips and tricks to maximize and manage your investment returns. Tyson also explores taxation, risk management, real estate as investments, and what to do when the economic market takes a downturn. Investing for Dummies is an excellent introduction to investing, particularly for younger investors.
Women and Money
Women and Money by finance whiz Suze Orman explores the complicated – and often absent – relationship that women have with their money. Throughout the book, she challenges the suppositions many women have about money and offers prudent counsel on how to have a better relationship with it to ensure independence, including a step-by-step plan on saving, portfolio development, and other investment tips to assure women of their independence and ability to be financially capable. A must-read for all female investors, Orman discusses many investment types ranging from mutual funds to IRAs, and explains when to do which.
Related resource: Top 10 Best Online MBA Programs
The Dao of Capital
This very meta investing book was authored by Mark Spitznagel, who takes the reader on a gripping journey through the world of investment and speculation. A philosophical approach to investment, patience, and the perception of time, The Dao of Capital presents an excellent read on the Austrian system of investment, new and emerging markets, and the value of the tortoise versus the hare concept.
The Little Book of Common Sense Investing
Written by mutual fund expert Jack Bogle, this no-nonsense text provides a solid introduction to mutual fund investment, real-world approaches versus speculation, investment return maximization, investing trends and fads that are best avoided, and a host of other topics of concern to the budding or veteran investor. The book also presents the lauded wisdom of well-known investment experts, including Warren Buffett and Paul Samuelson, among others. Finally, it seeks to minimize cost versus maximizing returns so the investor can see more of the money they’re making. This short but potent read provides valuable information to all investors, no matter how much or little they are investing.
The Money Book for the Young, Fabulous, and Broke
Another gem by Orman, this Millennial-focused text provides answers to a great many questions of concern, including how to invest when you’re cash-strapped, how to balance investing with family concerns, and even how to best prepare when you want to leave your job. It also provides valuable tips for coping with student debt, how to get the best deal on the mortgage for your first home, and other valuable information for a determined but financially constrained generation.
Investment is conceptually simple but pragmatically challenging. Each of these books about investing presents a different focus and point of view in the world of investing, and each of them will help you become a more competent investor.
