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7 GREAT BOOKS FOR YOUNG INVESTORS

19 Sep,2022 06:17 PM, by: Prasanta Nath
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The benefits of investing your money from an early age can be immensely beneficial due to the high-returns on mid to long term tenures. The end purpose of investing is to attain financial freedom and securing your future wealth for an optimal life ahead. Despite the easy availability of investment opportunities, many young individuals struggle to start their investment journey. Upon inquiring a little further, the prime factor preventing these individuals from investing their money is lack of proper understanding into the ways of investment. 

As much as it is true that the right investment plan can provide you high financial returns in the long-run, it is also true that unplanned investments with little knowledge into the future outcome can be risky for your future wealth. 

But thankfully, several investment experts who are well-versed with investment secrets, strategies and more have put together their wisdom for the rest of us to learn and apply in our own investment plans. Let’s look into some of the trusted investment guides that are available today in form of books. 


Book #1
 
THE INTELLIGENT INVESTOR
 

The book was written by Benjamin Graham and was published in the year 1949. From that year till today, it remains a highly recommended book for every investor. Also referred to as the "Bible of Investing”, the book focuses on safe investment methods and gaining long-term benefits. It covers the concept of value investing and wonderfully explains all stock market fundamentals. This book discusses how to analyse investments, variety of investment principles, and comparisons of various financing possibilities. In short, everything a new investor needs to know about investing.

 

Book #2
 
PSYCHOLOGY OF MONEY

 

The book written by Morgan Housel tells us how psychological and emotional elements have a greater impact on our financial situation than technical knowledge. Morgan Housel provides 19 stories in this book that demonstrate the unusual ways people think about money. It discusses observations about our relationship with money and how our financial thinking influences the important decisions we make. It underlines the distinction between being wealthy and being rich in an understandable way.


Book #3
 
RICH DAD POOR DAD


This book, authored by Robert Kiyosaki, explains the distinction between working for money and making money work for you. It is a popular book among investors and business enthusiasts worldwide. Rich Dad Poor Dad is basically Robert's story about growing up with two fathers - his biological father and the ‘rich’ father of his best friend, and how both men influenced his views on money and investing. This book will redefine your perspective on money and how to generate more of it. It will question your beliefs and understanding of money, as well as explain why some individuals become wealthy while others remain impoverished their entire lives.


Book #4


STOCKS TO RICHES

If you are interested in mutual funds, you have probably heard of the Parag Parikh fund.  Parag Parikh, the well-known investing expert and founder of Parag Parikh Financial Advisory Services (PPFAS) and PPFAS Mutual Fund, wrote this book. Stocks to Riches discusses the key concepts that one needs to understand in order to succeed in the stock market. This book is written for those who are serious about building wealth the proper way.


Book #5


THE TOTAL MONEY MAKEOVER

This book is written for people who are overwhelmed by debt. Dave Ramsey, an author, businessman, and personal finance expert in America, authored the book. The book's main theme is to live within your means, avoid debt, and be disciplined. The book is written on the assumption that personal finance is 80% behaviour and 20% head knowledge.


Book #6
 
THE MILLIONAIRE NEXT DOOR

 

The Millionaire Next Door, published in 1996, explores into the financial habits and relationships of true millionaires. The book distinguishes between having a high salary and being wealthy. This book demonstrates the easy savings and spending practises that result in more cash flow than most individuals make in their lifetime, while also assisting you in avoiding important pitfalls on your path to financial freedom. There are two types of people, according to this book: under-accumulators of wealth (UAWs), who spend whatever they earn as soon as they get it (to say nothing of credit cards); and prodigious accumulators of wealth (PAWs), who live frugally, save, invest, and end up becoming billionaires.


Book #7
 
ONE UP ON WALL STREET

 

This book, written by Peter Lynch and published in 1989, is a must-read for novice investors who are preparing to enter the stock market professionally. This book discusses some of the foundational to intermediate tactics for profiting in the stock market. Lynch provides simple suggestions by studying a company's financial documents and determining which numbers really matter. It is an excellent resource for aspiring investors who want to learn stock investing from a recognised expert. It is a comprehensive package that instructs an investor on how to approach the market, what to buy, when to sell, how much to buy, and when to sell.

 

The Bottom Line

If done correctly, investments are certainly a wonderful way to prosper quickly. Investing in the best investment books listed above can help you have a trouble-free investing path. The books mentioned above can help establish a strong foundation for making good financial decisions.

Disclaimer: The opinions expressed in this article are those of the author's. They do not purport to reflect the opinions or views of The Critical Script or its editor.

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