New to Wall Street? Been here awhile but think your portfolio could use a makeover? Still haven’t taken the leap on making your first investment?
No matter where you are on your journey as an investor, I’m so glad your ruby slippers on the yellow brick road brought you here. I’ll start by answering the burning question on everyone’s mind:
What does it mean to be an investor, anyway?
According to Investopedia, an investor is “anyone who commits capital with the expectation of receiving financial returns.”
Seems simple enough. Believe it or not, almost everyone we know is an investor in some way or has the ability to be one.
Own real estate? Investor.
Participate in a 401(k) or 403(b) at work? Investor.
Have assets in the bank with the ability to earn interest? Investor, fashionista.
Almost everyone has the opportunity to be an investor and join the party – including you!
Not only are you invited to this grand gala of seeking potential future returns, you are my special guest – and what kind of hostess would I be if I didn’t help you prepare for such an occasion and get you on the best-dressed list?
Plus, if you’ve read my recent post on why you should S-H-O-P every time you get paid, you already have a head start!
Style tip: One of the best ways to prepare to start investing (and anything in life, for that matter) is to read about it first. Read books written by those you want to emulate. Who inspire you. Who elevate your perspective and mindset.
Speaking of mindset, I have a secret to spill…
The art of successful investing is 80% behavior and only 20% head knowledge.
(Translation: This book guide is going to be a little different than the typical investor resource.)
Today, I share 10 books that will help prepare you for your role as an investor, learn the key behaviors to successful investing, and elevate your mindset to generate net positive returns in the markets and in life.
Plus, most are under $15 and available with free 2-day shipping. Win-win.
P.S. This post contains affiliate links – meaning if you buy something from one of the authors below, I may receive a commission that will then be used to make even more worthwhile, valuable content for you! Thanks, trendsetter!
1. THE SUMMARY of The Intelligent Investor
The Intelligent Investor by Benjamin Graham is a classic and considered required reading for finance professionals everywhere. It is packed with 500+ pages of timeless wisdom on behavioral finance and how to approach with financial markets through a long-term lens.
However…
I am a firm believer in working smarter, not harder. Even though I live and breathe this stuff, I still struggled to stay focused and finish this one.
Instead of trying to power through this entire intimidating book when you are just starting out as an investor, I recommend picking up a copy of this much more concise and easy to read summary.
You could also buy the original book plus the summary to help guide you through key concepts as you go. Depends how much space you have in your Louis Vuitton Neverfull.
2. Emotional Intelligence 2.0
As I mentioned before, investing is 80% behavior.
We’ve all heard about IQ (Intelligence Quotient). But what if I told you about an even more important success indicator?
No, not your FQ (Fashion Quotient)…
Your EQ (Emotional Quotient) or emotional intelligence is your ability to identify, evaluate, control and express your emotions.
Why is this important in investing?
Let’s say there’s a downturn in the market. Your stock investments take a significant dip in value. Will you either…
a. let your fear get the best of you and pull out of the market, generating a loss or
b. remember that down markets are a normal part of long-term investing, and continue to stay invested (or even buy more shares at this new, lower price)?
Emotional Intelligence 2.0 will help you understand where you are on the emotional intelligence spectrum, real-life practical ways to improve your self-awareness and others-awareness, and be in control of your emotions. The authors also include a nifty online component with each copy.
Style tip: This skill also comes in handy during flash sales when you are tempted with impulse, emotional purchases and while booking your next holiday. I share more about ways to beat buyer’s remorse on vacation here.
3. You are a Badass
This holy grail of wit and wisdom by Jen Sincero almost needs no introduction. I can count on one hand the number of books that have fundamentally changed my life for the better:
- This book
- #5 on this list
- The Bible (Jesus, you’re the best)
I have given this book to dozens of women in my life who I know are resilient forces of nature just waiting to shine.
Think of 3 women in your life who are working hard toward their goals, trying to make the world a better place, but sometimes let it slip that they don’t always believe in themselves.
Gift those 3 women this book ASAP.
No matter where you are on making the decision to invest, Sincero will help you break down any false narratives and subconscious self-sabotage for good.
The only kind of baggage I want following me around is a stack of Louis Vuitton trunk suitcases. Don’t you?
You are a Badass teaches you how to elevate your mindset higher than your highest platform heels to help you live your best life (and make the best financial decisions) possible.
4. Learn to Earn
This classic by Peter Lynch, one of the greatest fund managers (someone who calls the shots on investment decisions for a mutual fund) of all time is perfect for the trendsetter who is just starting out in the world of investing and business.
Learn to Earn holds vital lessons on capitalism, how to read and understand company earnings reports, how to think like an investor, the beauty of compound interest, and many other principles you didn’t learn in school.
Speaking of compound interest and all its magnificent powers, check out my post on Why Compound Interest is Better Than a Birkin Bag.
P.S. – This book makes a perfect gift for the recent college grad or young professional in your life who you just learned hasn’t taken advantage of their 401(k) company match. Gasp.
5. How to Win Friends and Influence People
If you only buy ONE book from this entire list, let it be this one. This timeless classic by Dale Carnegie is the original personal development book that all the others since the 1930s have been based on.
Think of it as that perfect string of pearls in your jewelry armoire, or that little black dress in your closet that you will wear for years to come. Like these wardrobe staples, How to Win Friends and Influence People will never go out of style and is the perfect companion for any situation (or outfit).
Again, 80% of investing is behavior, and this book addresses the principles of behavioral finance and then some. Below is the list featured in the front of the original 1936 version of what this book will do for you:
- Get you out of a mental rut, give you new thoughts, new visions, new ambitions.
- Enable you to make friends quickly and easily.
- Increase your popularity.
- Help you to win people to your way of thinking.
- Increase your influence, your prestige, your ability to get things done.
- Enable you to win new clients, new customers.
- Increase your earning power.
- Make you a better salesman, a better executive.
- Help you to handle complaints, avoid arguments, keep your human contacts smooth and pleasant.
- Make you a better speaker, a more entertaining conversationalist.
- Make the principles of psychology easy for you to apply in your daily contacts.
- Help you to arouse enthusiasm among your associates.
I’ll write more on how this book changed my life in an upcoming post!
6. Think and Grow Rich
Another classic on this list, Napoleon Hill’s Think and Grow Rich is a great blueprint for finding ways to increase your income and start investing.
This book teaches you how to suppress your negative thoughts and focus on your long-term goals through your faith, persistence, and desire to succeed.
Hill outlines 13 principles to achieve this elevated mindset and positive thought patterns to set you up as a successful investor and help you find your purpose.
Why is this perfect for investing? Investing requires you to think of the long-term and the goals you want to achieve by then – which will ultimately drive how you are invested in the first place.
7. Future Boss Lady
I first connected with the author of Future Boss Lady, Anna, through Instagram (Style tip: social media is an amazing tool to connect us with like-minded, fabulous people).
Since then, she has been a great inspiration to me as I grow my business. She is so sweet and supportive of fellow female entrepreneurs, and the definition of “fiscally fabulous.”
Future Boss Lady is the absolute perfect addition to the libraries of women who want to change the world.
It is packed with knowledge, best practices and interactive lessons for just about any stage of life you find yourself in. From the dorm room to the board room, Anna has you covered.
On Instagram? You don’t want to miss Anna’s posts either – they are full of inspiration and fabulous tips! Give her a follow at @futurebosslady.co or by clicking here.
How I wish I had my hands on this lovely work when I first started my career! I may have avoided several mistakes, including awkward disciplinary discussions on the hemlines of my dresses.
Apparently when you are 5’9″, the “fingertip length” rule becomes obsolete in the working world?
Bottom line: When you are confident in your ability to succeed, make a difference, and understand the circumstances around you, you are much more likely to stick with your long-term investment plan.
8. You are a Badass at Making Money
Jen Sincero is back with another wisdom and wit-packed gem tailored specifically for growing your wealth. You are a Badass at Making Money is a sequel that is almost as good as the original.
Want to get your hands on You are a Badass and this kick-butt sequel? Click here for a great deal on both.
Sincero’s signature writing style and sense of humor make breaking the unnecessary and destructive rules we’ve created for ourselves an enjoyable activity.
This book teaches you how to create your unique “Money Mantras” and thought patterns to destroy your self-limiting beliefs about money and your worthiness and ability to earn and manifest it.
Style tip: You cannot be a truly successful investor if you do not have a healthy relationship with money.
I applied what Sincero taught me in this book to create a list of 100 ways to make money so you can start investing ASAP. Check it out here.
9. Investing for Beginners: A Short Read on the Basics of Investing
What I love about Investing for Beginners is that it’s only 30 pages long while still providing a concise, high-level overview of investing basics. This book is perfect for the trendsetter who is just getting started and may not know the difference between a mutual fund and an ETF (yet!).
Oh, and the best part? It’s only $4.
Imagine unlocking valuable knowledge to start growing your wealth for an upfront investment less than your morning latte. What are you waiting for?
10. Beating the Street
Another gem by Peter Lynch, Beating the Street is one of my all-time favorites. Lynch’s down-to-earth writing style makes learning a sometimes overwhelming and complicated subject enjoyable. He also helps foster the confidence you will need to make investment decisions on your portfolio – either solo or with the help of your financial advisor.
P.S. Looking an qualified, competent advisor? Shoot me a message and I’ll connect you with one.
Like the others on this list, Beating the Street covers the basics on investing to get you started. Lynch shares his own personal journey as an investor and successful fund manager while not being afraid to shed light on his failures as one, either.
Think of it like being on the “Best Dressed List” 80% of the time, but the other 20% your picture is next to the fashion fails of Lady Gaga’s meat-adorned dress or Tilda Swinton’s makeup-less look at the 2008 Oscars.
Which book to start with?
You don’t need to read these books in any particular order. Everyone is on their own journey of investing, wealth building, and personal growth. Start with the book that jumps out to you the most on this list and start reading!
But don’t just start reading, start investing!
Not sure how to find the funds to begin? I show you 100 (yes, 100) legitimate ways to earn extra funds to get a running start on your investment journey. Access it here.
Have you read one of these titles before? Know a great read that should be included on this list? Share below!
