Recommended reading

brickz

Hi all,

I have recently managed to rid myself of debt and generate some savings! Hooray.

I'm starting to look into investing my money in more detail. My first step has been to apply to upgrade my santander account to 123 account so at least I can generate some interest on savings. I've just finished reading Rich Dad, Poor Dad which is an excellent book. Do any of you guys have any other recommended readings or advice for a beginner investor? I want to educate myself on all forms of bonds, funds, trusts etc.

Any info would be greatly received.

Thanks

traineepensioner

"Smarter Investing" by Tim Hale is quite good.

colsten

similar thread: https://forums.moneysavingexpert.com/discussion/4752194

BLB53

Well done on getting out of debt and starting to save!

First of all, lots of free info on the web - 3 sites I recommend are https://www.fool.co.uk (discussion boards), https://www.monevator.com (passive investing, trackers etc) and https://www.diyinvestoruk.blogspot.co.uk (basics tab, also see books recommended there)

Good luck with your investing education.

[Deleted User]

brickz wrote: »

I've just finished reading Rich Dad, Poor Dad which is an excellent book.

I agree witht that - his definitions of "assets" and "liabilities" his experiences as a child with his two "dads" and his history of taxes were most interesting - even though his definition of "asset" upset some folk on the forum when I posted it - he is quite right of course:D.

For anyone "starting out" in looking at the world of work, who is considering employment/self-employment/business owner alternatives, I'd also recommend his book "Cashflow Quadrant". I feel I'm too old to benefit from it, but I hope my kids benefit from it.

I have just statred haunting the bussiness section of the local large library, but found little so far that I found as readable and enjoyable as these two.

Good luck.

WR

dryhat

"The richest man in Babylon" is an enjoyable read and very informative.

ExMugPunter

Rich Dad Poor Dad was also the catalyst for my interest into investments and generally sorting myself out financially. The message that sticks in my mind (and has become a bit of a personal mantra) is 'Poor people by liabilities, Rich People buy Assets'. Such a simple message but very powerful to my mind.
This sounds a bit corny/stupid but soon after, I needed a new watch so I purposely bought a cheap 'retro' Casio watch for £6.49 (rather than an expensive glitzy thing). Now every time I look at the time, I am reminded about that message.

Soon after reading that book, we were staying in a cottage on holiday. Whilst waiting out a storm, I found a copy of 'Millionaire next door'. This took that 'Rich people assets, poor people buy liabilities' message to a new level.

Since then I have enjoyed several books such as Millionaire Teacher (Andrew Hallam), A Randon Walk Down Wall Street (Malkiel) , Smarter Investing (Time Hale), The Coffee House Investor (Schultheis) and Investing Demystified (Lars Krojair).

There are other books that didnt strike a chord with me. But I think it is important to read as much as possible, even you don't agree with the message. That way you can be more comfortable with the path you have chosen.

Good luck.

ExMugPunter

dryhat wrote: »

"The richest man in Babylon" is an enjoyable read and very informative.

That book always gets recommended, and I always forget to search and read it!!

Thank you for the reminder.

Gram_Parsons

dryhat wrote: »

"The richest man in Babylon" is an enjoyable read and very informative.

I just searched for that on Amazon. There are two books with that name, both on the same subject. One is by a Charles Conrad and the other is by George Clason. Which one is being recommended? Both look worth reading anyway?

ExMugPunter

Gram_Parsons wrote: »

I just searched for that on Amazon. There are two books with that name, both on the same subject. One is by a Charles Conrad and the other is by George Clason. Which one is being recommended? Both look worth reading anyway?

http://www.ccsales.com/the_richest_man_in_babylon.pdf

Cherokeebluesome

I have read " Rich Dad Poor Dad" both 1 and 2 and smarter investing by Tim Hales. I've also read "The Naked Trader" by Robbie Burns (twice) which has been highly recommended by lots of posters on this forum. I would do as you say OP keep on reading and good luck on your investment journey.