Rich Dad,Â Poor Dad is a personal finance bestseller. Written in 1997, it advocates the importance of financial educationÂ and building wealth through passive income streams. The book is Robertâ€™s story of growing up with two dads â€“ his real father and the â€œrich dadâ€ of his best friend â€“ and how they shaped his approach to investing. The authors believe you donâ€™t need a high income to become rich and that readers should focus on assets that generate income rather than liabilities.Â Advocates say it is inspirational and even life-changing,Â but critics say Robert is little more than an extremely successful marketer.Â
This book takes the reader through the different factors thatÂ shouldÂ beÂ taken into accountÂ when building an investment portfolio.Â Its overall argument is that it is almost impossible to beat the market. Investors shouldÂ build a simple and rational portfolioÂ of cheap world equity index trackersÂ and then leave itÂ mostlyÂ untouched to get the benefit ofÂ long-termÂ growth.Â Written by former hedge fundÂ managerÂ LarsÂ Kroijer,Â it aims to simplify the investing process for people who donâ€™t have much time on their hands orÂ who feel overwhelmed by the stock market.Â Â
JLÂ Colllinsâ€™ Simple Path to Wealth is highly cited among followers of the Fire movementÂ (Financial Independence, Retire Early).Â Collins message to readers isÂ they everyone can achieveÂ financial freedomÂ earlyÂ (ieÂ not having in to work for a living)Â by focusing on a simple investing strategy from a young age. The book is written with US investors in mind, but theÂ principles still apply to UK investors.Â â€œThis book and meeting JL Collins changed my entire way of investing and has been a big part of my journey toÂ financial independence which I hit last year,â€ says Alan Donegan, who retired at the age of 40.Â
How to Save It, by Bola Sol (published 07/01/2021)Â
This has been written byÂ financial wellness guru Bola Sol, aÂ mathsÂ and finance graduate whoÂ grew up as one of six children to a single mother.Â â€œIâ€™ve seen what [money]Â can do so I work hard to find investments, build my net worth and ensure that I enjoy a richer future,â€ she explains.Â Â How to Save It, Solâ€™sÂ first book,Â aims to guide readersÂ through all the money essentials â€“ from saving, to budgeting, dealing with debt, buildingÂ credit and taking the first steps to investing.
Itâ€™s being published byÂ MerkyÂ Books,Â a publishing collaboration between rap artistÂ StormzyÂ and Penguin.
Jason Barefoot, chartered financial planner at Ascot Lloyd, recommendsÂ Simple Wealth, Inevitable WealthÂ by Nick Murray. He says: â€œItâ€™s an expense at Â£50 last time I looked, but no wiser words have been said in any investment book Iâ€™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.â€Â
ResetÂ is aimed at mid-life professionals who feel they are stuck in a rut with their career and personal life.Â It promotes the idea of gaining financial independenceÂ and retiring early. Unlike other books about the Fire movement, which tend to be written by US authors,Â Reset is written byÂ 46-year-oldÂ PR executive David SawyerÂ who is based in Glasgow.Â The book was written in 2018Â and details Sawyerâ€™s journey to financial independence, which he plans to achieve within the next 10 years.Â
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. â€œA handy, chatty, sympathetic and wide-ranging guide that assumes no financial knowledge at all and doesnâ€™t get bogged down in too much detail,â€ says one online reviewer.
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 howÂ to 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.