Looking for books to read to help you make smarter decisions in investing for your financial future? While books like Tony Robbin’s MONEY or any book that helps you learn more about a specific investment vehicle (we’re not going to judge you if you’re reading Mutual Funds for Dummies – it’s actually a great read!), but we’ve got some more unconventional recommendations that will help you think more strategically about growing your wealth.
1. The Dip (Seth Godin)
Seth Godin is one of the world’s foremost thinkers – if you aren’t reading his blog, you should be. While any of his books can help you be a better business professional and think out of the box when it comes to both your career and your personal life, Seth’s book The Dip is one of my favorites because of it’s useful advice on when to stay and when to quit. It’s a skill that comes in handy when it comes to investing in your financial future because it can be easy to make rash decisions when the market is down!
2. Predictably Irrational (Dan Ariely)
We’ve previously covered The Optimism Bias here on the blog, because planning for decades in the future is a bit of a mind game. And many of us are bad at imagining our future accurately. Dan Airely’s book Predictably Irrational is a fascinating read at how us human beings don’t always think in practical terms – even though things might sound very rational to us, in reality they are irrational. The case studies in the book are easy to digest and very insightful in learning about how to perceive true risk in your investing portfolio more accurately.
3. Little Bets (Peter Sims)
Sometimes, the best way to ease into your investing strategy is to try smaller experiments to build your knowledge and confidence. This is a strategy that is beautifully illustrated by Peter Sims in his book, Little Bets. While this book is, I suspect, more geared towards entrepreneurs, we can all use a little bit of this thinking in any areas of our life where we feel we’re taking a risk or sticking our neck out. Peter walks you through ways to get past your fears and how to learn from experiences, good and bad.
4. Think & Grow Rich (Napoleon Hill)
It’s widely considered the first, and one of the best, self help books ever written. Self help has a bit of a bad reputation, but what’s wrong with giving yourself a boost? In Think and Grow Rich – which was written in 1937, so there are some odd contextual references – Napoleon Hill references several topics that are useful for younger investors, such as setting up a mastermind (see also: accountability date), getting organized, and knowing what you want. Some of the principles seem too simple, but maybe getting organized and having a clear idea of your financial future is all you need to be successful.
5. Blink (Malcolm Gladwell)
Last but not least in our lineup of unconventional books for investors and growing wealth is Blink. Malcolm Gladwell has written many successful books but I don’t hear about this one nearly as often as I should. In essence, this book explains how our brains often run on autopilot and we don’t even realize how we make split-second decisions. The case studies will peel back the layers on your decision making and help you avoid making irrational decisions, especially when delving into new investments and opportunities.