Looking for Gen Y or Gen Z Gift Ideas? Here Are Some Of The Best Books for Young Investors
Are you looking to think outside the box this year for your holiday gift-giving? Perhaps this holiday season, you could give the gift of financial knowledge to the investors in your life? Whether you’re just starting to dip your toes into the stock market or are seasoned pros, these books make great gifts for those that want to learn more about how money works.
The list below contains a few books that will help readers learn about investing strategies, the psychology of personal finance decisions, and ways to change your mindset around money. The team at Peabody Wealth Advisors believes that these books will be a hit with the young (and young at heart) investors on your gift list!
The Millionaire Next Door
🌟 Our pick!
Through a series of interviews, authors Thomas Stanley and William Danko get inside the minds of millionaires in their book The Millionaire Next Door. This is a great book for young investors to read as they aspire to grow their net worth and careers. In it, the authors share lessons from millionaires, some of which are so groundbreakingly simple that you wonder why you aren’t doing them already (and maybe you are!). What do millionaires do? Where do they buy their clothes and food? What kind of cars do they have? Go inside the minds of wealthy people to learn what it takes to be wealthy.
Rich Dad, Poor Dad
Rich Dad Poor Dad by Robert Kiyosaki was originally published in 1997 but remains one of the most popular books for young investors. Not only does it offer practical investment tips for individuals who want to learn more about real estate and other assets, but it also covers how to increase your financial intelligence (financial IQ).
Before young investors can focus on investment strategies, they must first understand how to be financially literate. Rich Dad Poor Dad breaks this financial literacy down in an easy-to-understand format.
Thinking, Fast and Slow
Thinking, Fast and Slow by Daniel Kahneman isn’t exclusively a financial book, but it continues to rank as one of the best books for young investors because it examines how we make decisions and the differences between our “gut” reactions and more deliberate decision-making.
A book like Thinking, Fast and Slow can help young investors understand investing by first helping them understand how to make rational and well-researched decisions. The goal is to remove emotions from the equation and focus instead on how to choose high-performing stocks based on logic.
The Little Book of Common Sense Investing
The title of this book says it all, but The Little Book of Common Sense Investing by John Bogle is a helpful book that explains index investing and how it may be a useful strategy for young investors. Bogle is the founder and former CEO of Vanguard and in the book, he shares some of his experience with costs, trying to beat the market, and different options for investors.
The book was originally published in 2007, but there is an updated copy that came out in 2016 that features updated stats and charts.
Even if you aren’t broke or a millennial, you can benefit from this helpful financial book for people of all ages. Like Rich Dad Poor Dad, Broke Millennial by Erin Lowry teaches readers how to manage their personal finances before diving into the world of investing. Any financial advisor will tell you to first manage your budget, then focus on your emergency savings, and not to start investing until you have your financial house in order. This book outlines crucial habits to practice if you want to become an effective investor.
Bonus: If you loved Broke Millennial, check out Broke Millennial Takes on Investing by the same author. This book is a follow-up to Broke Millennial and helps make the potentially confusing world of investing simple for even young investors.
I Will Teach You To Be Rich
I Will Teach You To Be Rich by Ramit Sethi is designed to be a six-week program that teaches young investors about creating a system for their money. It examines financial habits in an engaging way and helps investors understand first how to set financial goals and then how to pursue those goals. Plus, Sethi has a humorous writing style, so it’s a fun one to get through. Personal finance doesn’t have to be boring!
📚 These are just a few of the many financial books suited for young investors. There’s no better gift than financial knowledge, especially for individuals just starting out on their financial or investing journeys.
This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.