In this era of rising prices and slow salary growth, how to effectively manage your own finances has become a topic that everyone must face. Financial management is not just a numbers game, it involves a deep understanding and control of life, as well as long-term planning.
"THE INTERN" has carefully selected 20 far-reaching financial management books for you. Whether you are a newcomer or a master with many years of investment experience, they cover everything from the basics of financial management, investment strategies to psychology and retirement planning. Books will help you move forward steadily on the road to financial management and achieve greater financial goals.
Personal Finance and Wealth Mindset
The following books emphasize the cultivation of financial management behaviors and money psychology, and are suitable for readers who want to learn how to control money.
1. "Rich Dad, Poor Dad" (1997)
"Let money work for you instead of you working for money." This global bestseller emphasizes that the change of mentality is more important than the money itself. The author Robert. Through his own growth story, Kiyosaki compares the completely different financial management concepts of two fathers: one is the "poor dad" who emphasizes the traditional concept of studying hard and finding a stable job; the other is the "rich dad" who advocates asset management Modern thinking about financial independence and an in-depth look at the differences between assets and liabilities.
2. "The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness" (2021)
In this phenomenal book, Author Morgan Housel analyzes the relationship between money and human behavior from the perspective of psychology and human nature. The author brilliantly points out that financial success depends more on how you think about and treat money than just mastering complex financial knowledge or superb investment skills.
3. "Dollars and Sense: How We Misthink Money and How to Spend Smarter" (2018)
This book is co-written by Dan Ariely, an expert in psychology and behavioral economics, and comedy writer Jeff Kreisler. They explore human beings' money-related choices through humorous and vivid narratives. irrational behaviors and provide practical methods to solve these behavioral deviations, transforming academic behavioral economics topics into easy-to-understand and entertaining readings, helping readers understand the psychology of money and the underlying motivations in the decision-making process.
4. "How to Think About Money" (2019)
The book uses psychological research to help readers identify misunderstandings in traditional financial management concepts through 5 major money myths and 25 in-depth thoughts. For example, the pursuit of "making a fortune" often leads to short-term satisfaction and ignores long-term planning of financial management.
5. "Ein Hund namens Money" (1999)
Through interesting puppy stories, it teaches simple and easy-to-understand financial management concepts. It is suitable for beginners in finance or families who want to cultivate their children's money concepts.
Investment Philosophy and Basic Principles
This category collects classic works that can help readers construct long-term thinking, focusing on the core concepts of investment, judgment frameworks, and risk control strategies. Read through these principled wisdoms, which will serve as your guide to building a solid investment portfolio.
6. "The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio" (2002)
The book points out that theory, history, psychology, and industry are the four pillars of investment. By integrating the concepts of the four pillars, a systematic investment portfolio strategy can be formed, from establishment to maintenance to enjoyment of wealth. It is undoubtedly the authoritative reference for investors to establish sound investment concepts, and is also an important guide to help beginners and experienced investors review strategies.
7. "Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger" (2005)
This book of life wisdom refined by Warren Buffet's partner Charlie Munger, is full of real-life examples and interesting stories, making it easy for beginners to absorb while stimulating interest in financial freedom and personal growth. For example, the book emphasizes rational thinking, long-term investment and avoiding common psychological misunderstandings, helping readers avoid pitfalls in financial management and providing guidance for establishing sound investment concepts.
8. "The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor" (2013)
This book has been hailed as a must-read by stock investor Warren Buffett. Author Howard Marks, the founder of Oaktree Capital, has extracted 20 investment principles in the book, which are suitable for readers with different levels of experience. For example, Marks advocates using "second-level thinking" to deeply analyze and predict risks and opportunities that others ignore. An important way to beat the market.
9. "Just Keep Buying: Proven Ways to Save Money And Build Your Wealth" (2022)
This book is written by data scientist and wealth management expert Nick Maggiulli, this book challenges traditional investment theories and advocates that "continuous buying" is the most reliable strategy for getting rich. It also points out that this strategy can bring more stable long-term returns than "buying on dips". Majuli uses big data and empirical information to criticize long-standing investment myths and provide readers with more rational and data-driven investment concepts.
Practical Guide to Investment
This area brings together 4 classic books, which can not only help readers gain rich inspiration in investment knowledge, but also provide specific and actionable financial management advice, so as to move forward more steadily in the financial management journey of life.
10. "The Elements of Investing: Easy Lessons for Every Investor" (2002)
This book summarizes the two authors' combined rich investment experience of more than 112 years in straightforward and concise language. The book focuses on several core investment principles, from a long-term holding perspective to how to avoid being affected by short-term market fluctuations, and investing smartly using pension plans, effective tax planning, and rebalancing strategies. These principles are not only applicable to newcomers to the market, but also provide experienced investors with in-depth insights and directions for improving investment decisions.
11. "The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns" (2019)
John Bogle, the godfather of index funds. He created the world's first index fund and strongly advocated low-cost, long-term index investment strategies. The book provides readers with a lot of guiding basic investment knowledge, aiming to help investors understand the true core of investment and provide powerful tools to deal with stock market risks.
12. "Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School" (2020)
Author Andrew Hallam shares his financial tips for amassing millions with his high school teaching salary. The main points of this book focus on simple and practical financial management strategies, emphasizing that through index investment and the power of compound interest, ordinary people can achieve financial freedom.
13. "The Bogleheads' Guide to the Three-Fund Portfolio: How a Simple Portfolio of Three Total Market Index Funds Outperforms Most Investors with Less Risk" (2021)
The author emphasizes the "simplicity first" investment philosophy, which is opposed to complex operations and frequent transactions in the market. By holding index funds, investors can avoid excessive transaction costs and risks, achieve stable growth, and smoothly move toward early retirement.
Market History and Macro Perspective
The following are books from a more macro perspective, which can help you break away from the perspective of short-term trading and focus on market rules and long-term structural changes in the economy and financial system. It is suitable for readers who want to build a more comprehensive and in-depth investment view, especially those who already have a certain understanding of technical and fundamental investments and want to further develop the pattern.
14. "A Random Walk Down Wall Street" (1963)
This book is written by Burton Malkiel, a retired professor at Princeton University, it has been widely popular since its publication in 1973 and has been updated many times. Malkiel examines historical speculative bubbles, such as the dot-com bubble and the recent cryptocurrency craze, to remind investors of the risks of popular investment commodities. With humor and clear language, he explains how to see through speculation and choose a more stable long-term strategy.
15. "Where Are the Customers' Yachts? or A Good Hard Look at Wall Street" (2017)
The author dissects the financial industry in a humorous and sharp tone, revealing the truth that financial institutions tend to benefit themselves rather than consider their customers. This book directly points out the blind spots of excessive reliance on "professional advice" in investment, and reflects on the greed and fear that humans cannot overcome in investment. It is suitable for investors seeking critical thinking, readers with certain financial knowledge and who want to gain insight into industry operations and mental traps.
16. "Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail" (2022)
Bridgewater Associates founder Ray Dalio explains the driving factors of the rise and fall of countries from a macroeconomic and historical perspective. The book talks about how the debt cycle, wealth distribution, technological innovation and geopolitics interact to affect a country's long-term competitiveness, and compares it with the current global economic environment. This book is suitable for investors and managers who are interested in macroeconomics, historical trends and geopolitics, or who want to deepen their understanding of the overall market.
Learn from the masters
If you want to learn investment, you must learn from the masters who are racing in the stock market. This category gathers top investment experts in various fields and summarizes their practical experience and the essence of their thoughts, so that readers can understand the market from the perspective of the masters.
17. "The Essays of Warren Buffett: Lessons for Corporate America" (2023) and "The Deals of Warren Buffett" (2024), three volumes in total
These two books include shareholder letters and actual investment cases shared by the stock god Buffett over the years, demonstrating his investment philosophy and business wisdom. Buffett emphasizes the importance of the intrinsic value of a company, reminds investors not to be affected by short-term market fluctuations, and to focus on long-term value based on fundamental analysis. It is a classic work that deeply studies the development of value investing and market theory.
18. "Die Kunst über Geld nachzudenken" (2024)
This book is written by André Kostolany, a master of speculation known as the "German Stock God". It is the culmination of his lifetime speculation wisdom. Through his unique insights, this book explains the art of speculation and explores the core driving forces behind the ups and downs of the market: people's hearts and capital. What is taught is not only investment skills, but also the ability to think independently. No matter how the market fluctuations change, as long as they grasp Kostolany's wisdom, small retail investors can also move towards financial freedom.
19. "The Intelligent Investor: The Definitive Book on Value InvestingThe Definitive Book on Value Investing" (2018)
This is a classic investment book written by Benjamin Graham, the "father of value investing". Since its first publication in 1949, it has been widely hailed as the bible in the investment field and has profoundly influenced countless investors, including Buffett, the stock god. This book provides readers with a set of long-term investment philosophy based on margin of safety and rational analysis, and establishes a solid financial management framework for investors to remain comfortable in various market environments. This book is an important starting point for anyone looking to improve their financial literacy and adopt sustainable investing strategies.
20. "One Up on Wall Street: How to Use What You Already Know to Make Money in the Market" (2023)
Peter Lynch is a legendary investor who has been at the helm of Magellan Fund for 13 years. His average annual return is close to 30%. He is a leader in the investment community regardless of fund size or performance. Lin Qu proposed a series of practical rules, such as looking for investment inspiration by observing the surroundings in daily life, analyzing a company's earnings and development potential, and following the "two-minute rule" to quickly evaluate a company's investment value. In addition, his list of pitfalls that investors should avoid, from unreasonable stock price forecasts to one-sided reliance on professional reports, remains instructive today.
