Spoiler alert: the best books to learn about investing will never teach you about getting rich fast and making quick money.
Instead, they almost always focus on playing the long game, discussing the right mindset and building a strong foundation in understanding fundamentals, like how the economy works.
At least, that’s what I learned when I asked for best book recommendations specific to investing in a personal finance group. It was kind of a humble pie moment – I thought I read a lot, but I’ve only read one out of the 10 books on this list!
For your (and my) benefit, I’ve compiled the recommendations here, along with their video summaries. Here are some best books to learn about investing, suitable for beginners as a starting point all the way to experts to use as refresher material.
#1 – Rich Dad, Poor Dad by Robert Kiyosaki
Muhammad Amar Hasshim of Alpacarts.com – To those who never done any investing, I suggest starting with knowing the money game first with Rich Dad Poor Dad by Robert Kiyosaki. Also by the same author: Rich Dad’s Guide to Investing, which talks about what rich people invest in, that the poor and middle class do not.
#2 – Who Says You Can’t be Rich Working A 9 to 5 Job – Mark Chua
Wai Ken Wong of Stashaway – I liked Mark Chua’s book “Who Says You Can’t be Rich Working A 9 to 5 Job“, which is about doing property investments while having a successful career. It’s very practical for the Malaysian context.
#3 – Think and Grow Rich by Napolean Hill
Kho Wei Ang – I seldom get into technical stuff about finance and investing because I am already swamped with technical things at work… but I read “Think and Grow Rich” by Napolean Hill, who was a general.
The author offers a number of principles and insights for success in growing wealth. If Rich Dad, Poor Dad is about having the awareness and initiative to get started, this book is about building up soft skills like the belief and aptitude for investing.
#4 – What I Learned Losing A Million Dollars by Jim Paul and Brendan Moynihan
Daniel Cerventus Lim of SmartFinance.my – This (What I Learned Losing A Million Dollars) is highly recommended by Tim Ferriss but I find it boring. Lesson learnt are good though.
#5 – Principles: Life and Work by Ray Dalio
Sukhbir Cheema of Eksentrika – Principles: Life and Work by Ray Dalio. If I’m not mistaken, the PDF version is free. (Suraya’s note: get it here). Ray explains how the economy works, recession and more.
(Suraya’s note: DO NOT scroll past this video without watching or bookmarking it to watch later! Someone commented ‘that’s 4 years of my degree in 30 mins’ and it’s true)
#6 – Bogleheads’ Guide to Investing
Anon – Bogleheads’ Guide to Investing is a whirlwind tour on being frugal, and the different mainstream investment vehicles.
#7 – A Random Walk Down Wall Street by Burton Malkiel
Anon – A Random Walk Down Wall Street by Burton Malkiel. People always try to get rich quick bubbles and always try to beat the market average. Many of them fail.
#8 – The Incredible Secret Money Machine by Don Lancaster
TM Lee of Coingecko – Check out this 1978 book, “The Incredible Secret Money Machine” by Don Lancaster. It’s available for free at http://www.tinaja.com/ebooks/ismm.pdf. The book is not just about investing per se, it’s pretty broad. Dated, but the suggestions/idea appears evergreen.
(Suraya’s note: I can’t find video summaries of this book. But TM Lee made it into Forbes’ 30 under 30 2019 list so he must know something)
#9 – The Intelligent Investor by Benjamin Graham
Johann Oh – The Intelligent Investor by Benjamin Graham is worth every hour spent on it. My key takeaway was more of an emotional/mental attitude than a specific piece of knowledge – I’d sum it up as “do your homework and don’t succumb to FOMO”
#10 – Money Master the Game by Tony Robbins
Zoe of Hoveo – I like that the book covers a wide range of financial instruments – stocks, market index, bonds, commodities, annuities. And his advice of “all weather” portfolio to create an automatic lifetime income.
There you go. 10 books for you to find, read, understand and use to make good decisions while investing. Combined, they’ll probably cost less than RM500 – a small amount to pay for education. Too much? Check your local libraries and online selling platforms.
(Suraya’s note: If die die also no money, #5 and #8 can be downloaded for free)
What are your best books to learn about investing?
I’m sure you have more book recommendations to share. Which books taught you a lot about investing? Do you have any book recommendations for specific niches, like unit trust, gold, forex, property and more? Share them in the comments section!
Some of my past book reviews:
- Book Review: The Rules of Wealth by Richard Templar
- How the Fashion Industry Makes Money (Credit: Fashion Babylon)
Only available on RoR: Money Stories from Malaysians: Volume 1 Book