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Posted by: Ron on 2010-06-26, 10:51:00
First off, I recommend not reading Robert Kiyosaki. He's a con artist, and it's fairly well known (if you do any research) he never made any money at all, until he got into the business of telling other people how to make money. Here's a guy who's done an obsessive amount of research into Kiyosaki, johntreed.com/ Kiyosaki.html . Anyway, as to your books. I always recommend, for a first investing book David Bach's book, "The Automatic Millionaire ". This is not a get rich quick book. It's a get rich slow book. It talks about much more than investing, including the decisions and lifestyle choices you have to make over three decades or so to end up rich. A lot of it seems like common sense, except that most people just don't do it. If you read only one book, this is the one to read. If you follow it, you'll end up better than 90% of the people out there. If you're interested in investing theory, Burton Malkiel's classic and historical book, "A Random Walk Down Wall Street ". This is the book that, for academics, turned wall street on it's ear, and lead to the efficient market hypothesis, which essentially argues that individual stock picking is a useless endeavor. Shocking at the time, but widely accepted by acedemia (now) as true. If you're intersted not so much in theory but more on specific advice, I've yet to see a book (and I've read a ton) that beats William Berstein's book, "The Intelligent Asset Allocator ". Excellent book, which talks about not only how to "allocate " your assets among various possible investments, but also how to allocate them among tax protected and non-tax protected investments. For example, certain investments, such as REIT's, have significant annual tax ramifications, these should be held, if possible, in a 401k or an IRA and not held in a taxable account, to protect yourself from taxation. Other investments are more tax friendly, and can be held in a taxable account. Berstein's book, while fantastic, does have considerable math and statistics involved. If you don't have a college math/ stats background, it's still an excellent read, but you may have to skim some sections and kind of "take his word " for it. Good luck! |
