If you’re confused and a bit intimidated by personal finances and investments, you’re not alone.
The good news is that investing doesn’t have to be difficult. There are more resources than ever before.
Learning from the experts is a great way to strengthen your financial life. This is how average investors become extraordinary investors.
To save you time, we’ve compiled a list of the best investing books. A mix of classics and new favorites filled with useful information on everything from manage a Roth IRA to choose the best actions.
Adding our list of the best investing books to your Kindle or Audible can guide you through your investing journey, while saving you time and money.
Heck, they might even ask you to retire early.
Set yourself up for success with the 9 best investing books
Both new investors and professional investors can glean wisdom from these excellent reads.
Here are nine of the best investing books to check out before diving into the world of wealth management, Wall Street and financial planning.
1. “Your Money or Your Life” by Vicki Robin and Joe Dominguez
“Your money or your life: 9 Steps to Transform Your Relationship with Money and Achieve Financial Independence” is a nine-step guide to managing money and achieving financial independence.
The book advocates calculating how many hours of labor something costs you instead of how much money it costs — and including hidden costs, like work clothes and travel, in your calculations. Then he shows readers how to invest to make sure they don’t have to work forever.
Authors Vicki Robin and the late Joe Dominguez retired early using the principles on which they write. robin is passionate about sustainable living, and Dominguez combined frugality and high savings to retire at age 31.
“‘Your money’ encouraged me to scrutinize my spending, and habits and patterns quickly emerged,” Concepción de León, digital writer at The New York Times, wrote. “There are spreadsheets and expense tracking, simple charts and investment recommendations – but what I took away was a shift in mindset.”
“Your Money or Your Life” was first published in 1992 and has been updated four times, most recently in 2018 and translated into 12 languages.
2. “The Simple Path to Wealth” by JL Collins
When I started save for retirement“The Simple Path to Wealth” was the first book that everyone recommended to me.
JL Collins is a blogger best known for his investing series titled “Series of actions.” He wrote the series for his daughter, who wanted to save for retirement but didn’t want to obsess over it.
In 2016, he compiled the series of blog posts into an investing book titled “The Simple Path to Wealth.”
Collins offers simple solutions to building wealth for those who don’t like investing.
Of the books listed, “The Simple Path to Wealth” probably contains the most aggressive investment strategy recommendations, making it a great read for young investors who have the time to put up with the highs and lows of the market.
3. “The Richest Man in Babylon” by George S. Clason
In 1923, the Cartographic Society of George S. Clason published the first road atlas of the United States and Canada. He then published pamphlets for banks and investment institutions with parables about “pay yourself first” or save for your future self before you spend.
He later compiled the best ones in his investing book, “The richest man in Babylon.” The book uses parables set in ancient Babylon to explain the basics of saving and investing money. Some are aimed at growing your savings while others emphasize the value of hard work.
Arlene from From pennies to abundance I liked that the book was easy to digest. “It’s divided into short chapters, each with a story and a lesson, and the whole book can be finished in a few hours. The lessons are also laid out in a practical way.
“The Richest Man in Babylon” was first published in 1926. It has been reprinted dozens of times in many different languages.
4. “A Random Walk Down Wall Street” by Burton G. Malkiel
A longtime bestseller, Burton G. Malkiel’s”A random walk down Wall Streetcontinues to top investors’ reading lists 50 years after it was first published — and for good reason.
Malkiel’s reliable, gimmick-free advice on everything from real estate investment trusts and home ownership to balance a 401(k) portfolio can help individual investors make financial and stock market decisions with confidence.
5. “The Little Book of Common Sense Investing” by John Bogle
If you love breaking up the monotony of words with easy-to-understand charts, graphs and charts, you’ll like “The Little Book of Common Sense Investing.”
Author John Bogle is the founder of Vanguard Group and the father of the index fund, so he knows what he’s talking about.
But if an investment book on index funds written by the guy who invented them seems a bit suspicious, don’t delete it yet.
Bogle uses historical evidence from the stock market and financial planning industry experts who corroborate — though not necessarily agree with — his ideas.
“The Little Book of Common Sense Investing” was first published in 2007. An updated edition was published in 2017.
6. “The Only Investing Guide You’ll Ever Need” by Andrew Tobias
Former Democratic National Committee Treasurer Andrew Tobias has written extensively on investing, but he is best known for his book “The only investment guide you’ll ever need.”
It’s a big ask for a single book, but it does a great job covering topics like buying actions and portfolio management while using easy-to-read language.
The book also includes more in-depth coverage of save for college and estate planning than other investment books.
Tobias originally wrote this book in 1978, and it has been updated nine times since. So, in addition to being one of the most entertaining investing books on the list, you can be sure the advice is up-to-date and reflects 40 years of stock market history.
7. “The Intelligent Investor” by Benjamin Graham
Benjamin Graham, author ofThe smart investoris considered the father of value investing, a style that focuses on analyzing a company’s fundamental value before buying shares at a discount.
In “The Smart Investor,” Graham explains how to assess the value of a company based on its financial worth, not short-term trading techniques in the stock market.
While “The Intelligent Investor” was first published in 1949, its most recent editions are edited by Wall Street Journal personal finance columnist Jason Zweig, who offers modern commentary and insight into contemporary events.
This must-have investing book for beginners is a legend in the world of personal finance. Even Warren Buffett called it “by far the best investing book ever written” and contributed to the fourth edition.
8. “The Four Pillars of Investing” by William J. Bernstein
If you love investing and want to learn more, but still hate numbers, “The four pillars of investingis a great addition to your playlists.
There’s a lot of history and psychology, and very little math.
William J. Bernstein is a former neurologist who started writing books in 2000 for individual investors who wanted to create their own investment decisions within their portfolios.
Bernstein emphasizes conservative and low-risk investment philosophies to help readers build wealth and explains investment theory, history, psychology, and business.
9. “The Millionaire Professor” by Andrew Hallam
Andrew Hallam was a teacher who built a million-dollar retirement portfolio, and he did it long before he turned 40.
Joe Udo from Retiring at 40 – who actually retired at 40 – highly recommends the book.
“[It’s] his own fascinating story of how he became a millionaire on a teacher’s salary,” Udo wrote. “It’s not impossible. Anyone can do it; it just takes a long time. He didn’t use any tricky get-rich-quick tricks.
Jen Smith is a former Penny Hoarder editor.
Rachel Christian is a Certified Personal Finance Educator and Senior Writer for The Penny Hoarder.