Want to improve your financial knowledge in 2020? Reading these titles can help you become more financially savvy and you could pick up a few tips that will boost your own finances. But don’t worry, these aren’t dull books filled with endless jargon that you’ll have to force yourself to read; they’ll inform and entertain.
1. How to Own the World: A Plain English Speaking Guide to Thinking Globally and Investing Wisely, Andrew Craig
Do you want to grow your wealth? Then this could be the right book for you. Rather than looking at where your money comes from, Andrew Craig focuses on how to make money from money. The answer is investing assets to create returns and taking advantage of compound growth.
Arguing that anyone can use compound growth to their advantage and take control of their wealth, it’s a title that can help you get to grips with the basics of investing and how it can help you achieve goals.
2. The Mandibles: A Family, 2029-2047, Lionel Shriver
If you tend to steer towards fiction over fact, this novel from award-winning author Lionel Shriver could be right up your street. Set in the near future, The Mandibles is humorous whilst being a frighteningly plausible dystopia.
With a focus on the economy and global markets, Shriver looks at what would happen if the dollar collapsed and civilisation begins to break down. With the family patriarch having built up a family fortune, four generations live comfortably and expect financial security. But it quickly falls apart. Whilst fiction, the book uses complex economic theories to give it realism mixed with black humour.
3. Invest in the Best: How to Build a Substantial Long-Term Capital by Investing Only in the Best Companies, Keith Ashworth-Lord
Warren Buffett is known as one of the most successful investors ever. So, how did he make his fortune? Invest in the Best looks at the investment style of Buffet, known as business perspective investing. From assessing the quality of business to determining its values, Ashworth-Lord explores how to identify businesses that could deliver the returns you hope for.
Throughout, the emphasis is placed on the methodology used by Buffett. Invest in the Best is a great read for serious investors that want to take a more active role in portfolio management and discover how stocks and shares are picked.
4. Red Notice: A True Story of Corruption, Murder and One Man’s Fight for Justice, Bill Browder
Red Notice is a shocking true story that reads like a thriller. It follows the successes, challenges and eventual political conflict experienced by Bill Browder, the CEO and co-founder of Hermitage Capital Management.
Making his fortune through investing, Bill was at one time the largest foreign portfolio investor in Russia and in 1997 his fund was the best performing in the world, returning 238%. But by taking on oligarchs to achieve these returns, Browder and his team became embroiled in a world of fraud, bribery, corruption and torture. Red Notice offers an incredible insight into Russia during the post-Soviet Union years and investing in this world.
5. Your Retirement Salary: How to use your lifetime of pension savings to pay yourself an income in your retirement, Richard Dyson
Approaching retirement can be a daunting experience. You’ve spent the last few decades saving up for retirement. But once it’s here, how do you start taking an income from pensions and what can you do to make sure you don’t run out of money?
This personal finance book answers some of the questions you may have as you approach retirement, helping you to set out finances when you reach the milestone. It covers a variety of key areas, such as what Annuities are, tax rules around accessing your pension and the role of the State Pension.
6. Spare Change: How to Save More, Budget and be Happy with Your Finances, Iona Bain
Packed with practical tips, Spare Change is an easy to read book on personal finances on how to make your money go further. Covering a wide range of areas, from building a budget to working out your relationship with money. Dubbed the ‘first millennial money handbook’, it could make a great gift for younger generations getting to grips with their finances too.
Complete with colourful images, quizzes and handy checklists, Spare Change isn’t your usual ‘how to’ money book. If you want to get back to the basics of money management, this is a great place to start.
7. The Little Book of Behavioural Investing: How not to be your own worst enemy, James Montier
Bias affects decisions we make every day, including those relating to money and wealth. Behavioural traits can mean you lose money or achieve lower returns when investing, whether it’s through overconfidence or letting emotions play a role in decisions. This book takes a look at the psychological element of investing to help you recognise and overcome bias.
As you go through this book, you’ll probably recognise a few of your own behaviours on the pages. Luckily, it offers tested ways for avoiding the common pitfalls to make the most out of your investments. More than helping your finances, it offers an interesting insight into the way our minds work and human nature.
Whilst reading finance books can be valuable, remember individual circumstances are key to creating an appropriate financial plan. If you’d like to discuss your current finances and future, please get in touch with us.