I read quite a lot. Not as much as I'd like, mind you. I try to carry a book with me most of the time, because I find if I don't, I just end up scrolling social media or some other time waster, whenever I find myself with nothing to do. For me, reading is a high value activity and things like social media are comparatively low value. I want to spend my time on as many high value activities as I can…which means more books and less distractions. Easy to say…hard to do.
From time to time I get asked about what books I would recommend. That's a loaded question and one that's difficult to answer without knowing who's asking and what they're looking for or need at that point in time.
That being said, when it comes to financial planning and investing, I have some great recommendations that I think everyone would benefit from reading, no matter where you're at in life.
So we're going to be bringing you some recommendations for books that you might find valuable. It's also a helpful resource if you have people in your life who you know might be looking for or needing something specific. There's so many books out there and if you have some quality recommendations, it can make it easier to narrow down the list.
The kick off Tim's book club, the first instalment is a book that everyone should read. 'The Psychology of Money' by Morgan Housel - 'Timeless lessons on wealth, greed and happiness'. This is one of those heavily highlighted books for me. I've gathered a lot of insights, seen things from different perspectives and had my thoughts challenged. That's what a good book should do.
This book would be especially helpful for young people as they leave school and start earning and spending money. Financial literacy is lacking in the community broadly and so it must be actively sought out. I've given copies to our kids and we discuss some of the topics, as things arise during day to day conversations. We're always learning things and we never arrive at a place where we've got all the information we need or have perfect money beliefs. If you have kids, grandkids or are influential to other people, your beliefs about money, your values and happiness are being passed on, whether they're good or deficient.
What are your favourite books on investing..? What books have shaped your money psychology..? We'd love to know what your favourite investing/money related books are so shoot us an email at hello@intuitivefs.com.au with your recommendations. Pick up a copy of The Psychology of Money from your local library, bookshop or from our Amazon link here.
Here's to our continued growth and education.
Cheers
Tim
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