Every summer I try to capture a few great reads on financial planning. Sounds boring, doesn’t it? However, over the years there have been several books that have a way of making finances and money interesting and in some cases captivating. “Reminiscences of a Stock Operator”, by Edwin Lefevre is a great example of a book that is entertaining, rich in history and still relevant despite being published more than 70 years ago. Here are a few more that capture basic principles of investing and explore the psychological relationship we all have with money and success.
“An Empire of Wealth: The Epic History of American Economic Power” is written by John Steel Gordon and captures the incredible history of America’s rise to prosperity. Certainly, the book has a good deal of statistics as they are inescapable in this context. Gordon’s writing has a way of presenting these in a way that is balanced along with a cast of vibrant characters. Some of the heroes and villains are well known, and those that are not, have stories that are well-told. You might find yourself thinking, “Really, that’s how it all started? Very cool.”
“Think & Grow Rich: Or Men and Women who Resent Poverty” written by Napoleon Hill and can only be described in one word. Timeless. No doubt this should be required reading for every young adult. You will truly benefit if you read it and do what it says. Written in 1937, Hill draws on stories from his era and the great accumulation of wealth from well-known billionaires such as Thomas Edison, Henry Ford and Dale Carnegie. Understanding the Law of Attraction can be life changing and this book delivers on the critical process of making decisions and having a plan.
“Getting Things Done: The Art of Stress Free Productivity” is written by David Allen. The original version of Getting Things Done was published 15 years ago and it was recently updated in 2015. Whichever version you read, it will make you realize how the Pareto principle (known as the 80/20 rule) can be applied to everyday life. The theory of the 80/20 rule is that for most events, roughly 80% of the effects come from 20% of the causes. Working smarter, not harder can be accomplished with a systematic approach and analyzing why work (school or home) stresses us out and why we don’t accomplish what we want on any given day. If you want to operate at your highest level, this is a good read.
Roberta L. Nestor is a financial advisor practicing at 491 New Haven Avenue in Milford, CT offering retirement, long term care, investment and tax planning services. She also offers securities and advisory services as an Investment Adviser Representative of Commonwealth Financial Network – a member FINRA/SIPC and a Registered Investment Adviser. Fixed insurance products offered through Nestor Financial Network are separate and unrelated to Commonwealth. Commonwealth Financial Network or Nestor Financial Network does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation. Roberta can be reached at Nestor Financial Network, 203-876-8066 or email@example.com.