After I Read 40 Books on Investing - Here's What Will Make You Rich

[@SerahMorgan76]

Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[@AaronTilt]

Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.

[@walkjar-q7s]

In my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.

[@hughsx3]

My partner’s been considering going the same route, could you share more info please on the advisor that guides you?

[@hughsx3]

I found her profile online and reviewed her credentials. She has a lot of relevant experience. Thanks for sharing her information! I've already sent her an email to get in touch.

[@walkjar-q7s]

The advisor am currently working with is Teresa L. Athas. i came across her in a Bloomberg interview for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.

[@rayrwyr]

Best advice: "Do not save what is left after spending. Spend what is left after saving" - Warren Buffet.

[@hanselteixeira8597]

Didn't understand

[@reheyesd8666]

Easy to say when you have unlimited money.

[@ShaanNotShawn]

​@@hanselteixeira8597 For example: Have a fixed savings amount per paycheck. For example you are paid $5000 a month and your savings goal is $3000 Save 3000$ first and your left over spending budget is 2000$ Don't Spend $3865 and save $1135 because that is just what happens to be left over.

[@hanselteixeira8597]

@@ShaanNotShawn ok now I got the concept thanks shaan

[@HostileGingerATL]

@@reheyesd8666 he has unlimited money by living by that saying. Now he has unlimited money.

[@wdeemarwdeemar8739]

For me I am over 50 now and became a 401 k millionaire and think the turning point was not taking my money out during 2008 2009 crash and just kept dollar cost averaging into the market. All my family and friends took their money out and never came back in, came back in but not aggressively, or waited to long and came in buying high. Trying to time the market and failed. I am just going to keep dollar cost averaging. S and P and world stock market. The real secret formula is compounding over time. Can’t win if you don’t play. But also we drive Hondas, save first and I know where every dollar goes and chose a wife who actually hates shopping.

[@A_T_O_M_I_C_Rooster]

This. Although, you kind of gloss over being able to stay in the market (i.e. have a job) during those nasty years. Some people..a lot of people...simply were not able to do that.

[@ViktorKreisz]

I drive a Honda too… so Am I on the right track? 😂 Well done by the way! I’m glad you made it!

[@EddieP2001]

I'm planning to be there by 50 and Good job! Hoping you can elaborate if you ever tried to invest yourself and if you borrowed off your 401k? How did that turn out

[@Klaus80804]

"chose a wife who actually hates shopping" - this is the ultimate piece of advice, because such a woman is harder to find than the best-performing stock. The alternative is to stay single 🙂!

[@REDDEMON200K]

@@Klaus80804 😭😭🤣🤣

[@Antoniomara-p1o]

My top 3 right now are: Money's Hidden Cryptogram - Step by step if you want to make money The Psychology of Money - GOAT book The Simple Path to Wealth - Great book on investing

[@Tanish_dhiman1]

😢😢

[@aileengarcia460]

What? ​@@Tanish_dhiman1

[@LawrenceGladney]

I’m 25. Started reading financial books lately. I ditched social media and I’ve been reading more and studying what’s going on with the world and our economy. I feel like I’ve learned more from these books and applying them into my life than I did from college.

[@LifeOdysseyMotivation]

agree! me too I ditched social media a year ago. I am so stupid It's been 30 years that I am always playing the lottery. Now I don't have savings and I am so depressed. I have also started reading books and watching videos about finance and investing, financial literacy, and financial freedom. glad you made an excellent move at 25. Me I'm 48 now and I know nothing and I don't even have a skills. I just relied on luck and chance and that f*cking law of attraction! Do you think it's too late to start all over again?

[@LawrenceGladney]

@@LifeOdysseyMotivation I tell myself everyday as long as I’m still breathing and I am able to work it’s not to late. We just have to find opportunities and capitalize on them. I don’t plan to be rich, I just want my freedom. I still have trouble budgeting and I’m looking for a second job now just so I can invest more and save more. With you being 48 I can say you just have to build you a blueprint and attack it aggressively. From the things I’ve read, we have to understand the importance of acceptance. We have to learn to be happy with what we have instead of depending on the things we don’t have to make us happy. Trust me even at a younger age than you, I struggle to find more ways to increase my income and build skills because I have so much to learn and me being in Mississippi doesn’t really help with opportunity. I see what I want to do so now I just have to follow through. Set that goal. Go for it till you can’t go anymore. Don’t worry about losing, just learn from it. Every loss you’ve taken learn from it. Those losses are really blessings in disguise. I hope you find a way 🖤

[@achillescappaert4771]

@@LifeOdysseyMotivation Of course you still have a chance ! You keep on going and learning about finance.

[@LifeOdysseyMotivation]

@@achillescappaert4771 Thanks.

[@LawrenceGladney]

@@jane_doe_vp rich dad poor dad, the psychology of money. The richest man in Babylon and the 48 laws of power is what I’m currently on

[@MillieFord-gq1kz]

Reading 40 books on investing is impressive! It's great to see such dedication to financial education. The real key to getting rich is applying what you've learned consistently and making smart, informed decisions. Keep up the great work!

[@MariettaDiane]

Reading and learning are crucial first steps, but the true transformation happens when you start applying that knowledge consistently. It's all about making smart, informed decisions and sticking to a solid financial plan. Keep it up, and you'll see great results!

[@Destination-Wealth]

@@MariettaDiane So true.

[@Lemariecooper]

Embarking on the investment journey at 40, I envision a triumphant testimony of significant success by the age of 55..

[@Mattamillion-vk2pf]

I bought 'Psychology of Money' and read it this summer because of this guy's advice and he's right. The book is a great. I wish I read it when I was 18.

[@alexjones2855]

The millionaire next door, is a great read. It is a PHD researched paper on millionaires in the US. Quote "Think of money as a game, if you make a lot of money you have great offense. If you can save you have great defense. Defense wins the money game", or something like that

[@TobyNewbatt]

Yes I’ve just been putting it on as an audiobook! What a great book so interesting!

[@Sharpshooter649]

the best defense is a good offense

[@davidglad]

@@TobyNewbatt Tom Stanley's (same author) The Millionaire Mind (second book) also has the great quote "It's not really how smart you are. It's how you are smart." That was my first exposure to the author. As I got the book in, no joke, audio cassette form for maybe $0.25 at a library book sale. Speaking of great value for little money. (Libraries are also a great source of books if you have a well stocked one nearby, of course.) PS If you have watched Berkshire Hathaway's annual meetings, sounds like a recurring theme from Buffett and Munger that they made most of their money by just sitting on their hands and doing nothing after selecting their investments. Although Munger shrugged it "didn't contribute to human knowledge" at one such meeting, I'd heavily recommend Robert Hagstrom's The Warren Buffett Way. (Any edition is good. Ironically that third edition might be weaker, given it features Berkshre's dog of an IBM investment, among not really contributing anything new.)

[@TobyNewbatt]

@@davidglad Thanks David for taking the time to comment!

[@Rujee8]

@@Sharpshooter649 the best offense is great defense

[@MemoryKasu]

Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.

[@RicardaWindsheimer]

This is really amazing though. I'm curious as to how he did it. Was it real estate? Or he was a market enthusiast?

[@GersderaNioer]

I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@NatalieFormor]

I feel investors should be focusing on small caps stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.

[@DanielOrstein]

Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown

[@annaj.osorio]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@Robbertskypes]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@annaj.osorio]

Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.

[@JohannLang-r8y]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@EthanBrown_23]

Putting well-earned money into the stock market can't be over emphasised for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me?

[@JenniferDavis7630]

Personally, I would say have a mentor. Not sure where you will get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.

[@danieltaylor--65]

Some individuals minimize the importance of counsel until they make regrettable mistakes. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.

[@RobertBrown..]

How can I participate in this? I sincerely aspire to establish a secure financlal future and i'm eager to participate. Who is the driving force behind your success?

[@danieltaylor--65]

Kenna Muriel Hesseling is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment

[@SarahTaylor_]

I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon.

[@marshanco32]

Think and Grow Rich was not only about positive thoughts. It’s also about having a burning desire to create a product or offer a service. Then believing and manifesting the life you want through your conscious and subconscious. That’s a big part of how you can think and grow rich. Create and Manifest through a strong beliefs/daily affirmations!

[@PeteBuchwald]

"It seems the harder I work, the more luck I have" Thomas Jefferson

[@thapelonelsonntlhabo5998]

Spot on. Becoming rich is a mindset thing.

[@thapelonelsonntlhabo5998]

@D. Dimitrov I disagree. Positive thinking (affirmations, etc) does work. I can attest to it.

[@vantage789]

So 'The Secret' basically.

[@NoFapKing]

Every story in think and grow rich has an example of people taking action in it.

[@jti107]

1. live beneath your means 2. save for an emergency fund 3. invest in index funds as soon as possible 4. start an account to buy the stocks you like (see if you can do better than an index fund over 5 years) 5. invest in yourself and make yourself invaluable so you will get paid more

[@satyanveshi1939]

The best and simple 5 steps to financial freedom and nirvana

[@IgorGruendl]

😊

[@Shirley-v3g]

Lifestyle is important - getting married - having a family to support is many times a shortcut to the cemetery 😢

[@anikatasnimsaba]

I'm dumb because I don't understand stocks and investing. I'm like a 1 year old when it comes to finance. Where can I learn financial education?

[@Shirley-v3g]

@@anikatasnimsaba - firstly - you aren't dumb because you have a desire to learn / All it takes is some kindness and time from another person to explain things to you in a slow understandable manner...

[@KiyosakiSays]

“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” - Robert Kiyosaki

[@finniebear6744]

The rich has more than sufficient budget to buy food from what is left while the poor barely can’t feed themselves and their kids with the penny salary. 😢

[@abhishek-soni]

land bc

[@DuroSVK]

@@finniebear6744 perhaps thats why you poor then 😅

[@ikllnp]

Im rich

[@DuroSVK]

@@ikllnp hi Rich

[@Dan847]

"everyone is a genius in a bull market" most golden snippet I've ever seen. People REALLY underestimate long term investing and the time value of money

[@leonradman7473]

Toby, thanks for the video and a lot of brilliant books to read, I would like to mention the book Astro Money Alchemy because that book deserves it, it goes deeper into all these mysterious knowledge and secrets of money so all the recommendations and once again well done for the video

[@nexarie]

Great video Toby, i like books you recommended, but i think the book Wealth Decode shouldn't be forgotten because off all the unfair advantages and shocking things it possesses.

[@drakarionyt]

one of the best book i ever read in my life

[@Naruto_Uzumaki315]

where i can find tihs book?

[@faizanyaseen6197]

Think and grow rich is my favorite one, it doesn't only ask for a positive mindset, it actually shows the path how to translate a desire to reality. This one book had a great impact on my psychology.

[@umaiswaqar8075]

but youre still poor, thats his point, the book over emphazises the importance of positive thinking ang just keep going while this is not the key to financial freedom

[@LifeOdysseyMotivation]

@@umaiswaqar8075 Toby said that book is wishy washy

[@dalethedippa5822]

​@@umaiswaqar8075it not only is the key to financial freedom, it's the key to everything. It's a book about manifesting literally all of your dreams. It's just not easy to read and is very anecdotal and people don't have the patience to truly understand it

[@richardmupindu4996]

It is the best book of all times

[@stephencarr691]

The fact he criticised the validity of Think and grow rich but praised Kiwosaki and Rich Dad Poor Dad.

[@mikeyluk5113]

It’s all about goals. If it’s having money for retirement (my goal) just dollar cost average and reinvest dividends and don’t panic when market tanks for a bit. I would also say just choose an S&P index fund and save on expenses. I’m 60 and have approximately $4.5M. I’m a retired government worker and my wife stopped working full time when we had our child. We live in the Washington DC area so cost of living is higher than most of US. Live within your means and pay yourself first….

[@massafelipe8063]

Pretty much my same goal, also government worker, but 30 years younger and 4,2 mil poorer. Also, coming from a much poorer country but I we also lot $ less to be comfortable I guess. Great post.

[@jackjack4412]

That's awesome. It sounds like you're set for life in regards to finances.

[@ragulsiddarth705]

Only 3 books 1) JOYS of compounding by Gautam baid 2) Richer wiser happier by William green 3) The most important thing by Howard Marks

[@Mrshuster]

Wealth accumulation requires the development of good habits, such as regularly saving aside funds for dependable investments. Having a portfolio that is prepared for any situation is preferable to trying to foretell and predict market stability and the precise moment of a shift. For the previous four months, some people have been earning 150K per seven weeks on average, according to Bloomberg.

[@larrypaul-cw9nk]

Since they possess the necessary business plan and inside knowledge that the general public does not, the experts currently dominate the industry.

[@sabastinenoah]

I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@sabastinenoah]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@dwalker5175]

I’ve done graduate studies in finance, completed CFP education, applied everything learned into investing. Never, not once, have I beaten the S&P 500 nor the total US market index ETF. One exception was being a true (legal) insider in a business that went public over 20 years ago. This however doesn’t count because I was at the right place at the right time for that. I’ve been in broad market ETF’s with dividend reinvestment for over 15 years and sleep well..

[@francisquan224]

---- Beginner Level ( get more confident but in reality still dump ) 4:17 - The psychology of money 6:23 - The simple path to well ---- Beginner Level (UK Books) 6:59 - The meaningful of money handbook 7:25 - Money: A User’s Guide (book look like ATM Cards) +++++ ---- Medium Level ( terminology ) 9:33 - The intelligent investor (must read) 9:58 - One up on wall street --- High Level 15:57 - Mastering the cycle - howard marks You can be stock market Genius --- Bonus Level 13:13 - A random walk down wall street 13:42 - The little book of common sense investing ++++ 13:58 - Outtro

[@Aaaannnnntiilisa]

The fact that nobody talks about the forbidden book Hidden Art of Manipulating Minds speaks volumes about how people are stuck in a trance

[@dinkaukovic2721]

Totaly agree, you can find it on borlest with other forbidden books

[@alexpocovnicu1843]

Probably because it's a scam

[@DunRovinRanch-1969]

I see what you did there. 😊

[@Top5empire-]

Great advertisement 👏🏽

[@morebeer7673]

I think The Richest Man In Babylon was a great book on basic personal finance. Not necessarily investing-centric, but about how to create a personal economy that lifts you out of the cycle of debt and poverty into wealth. Great video! Best financial advice I ever heard related to living below your means - The Rich stay rich by living like they're poor. The Poor stay poor by living like they're rich.

[@hikmifouzi4505]

Love the book

[@ethanlee-c3d]

More beer the richest man in Babylon is the best book ever written. It is very underrated because it isn’t really by a motivational author. George S. Clason was a real business man. There is a lot to learn from other mentors. Wealth is a study, no one can do it for you. But the richest man in Babylon. It is my belief is if you can’t save money and keep it, you can’t get wealthy.

[@blackrajawhiterani6894]

My fav book❤

[@mosalami2]

Yes the Richest Man in Babylon is a great book

[@balemohamad6135]

Best book ever ❤

[@imdoc7872]

Great video mate. I’ve only read 20+ books on finance and investing and I concluded that the majority should not try to beat the market. Getting rich is a mind set of discipline and living below your means to truly build wealth and not just look rich. Dave Ramseys’ seven baby steps are a great way to get disciplined and Warren Buffet’s 90/10 portfolio is the way to go. It does not get easier than that. I’m living proof that it works.

[@SnowWhite-dr6xh]

Ever read Reminisces of a Stock Operator? Market Wizards? The folks that do beat the market get rich, and many of them are terrible at money management, but stay rich because they are good at making money. But most people lack and the passion needed to be a successful speculator. So yes, for most folks trading is too stressful or too boring or too hard. But I believe more would be able to make it work if they tried.

[@Stamcia]

same thoughts mate. Ive tried to beat the market and got really ahead and lost everything. I could repeat that every cycle but thats not the point of smart investing. Now going for the long term with discipline and knowledge about how this look and that history repeats itself so no need to panic sell/buy if things go south

[@lavenderrose1107]

There needs to be another way cuz what’s the point of hoarding money you can’t use esp if u don’t have kids. I get you should save that makes sense to have a rainy day fund but what’s the point of life if you did nothing and lived like a hobbit for 20 years just to use it for medical bills later 👀

[@imdoc7872]

@@lavenderrose1107 you can choose to live however you want but to live to impress others is very stressful, especially when you become a slave to your material possesions. I can work whenever I want and spend most of my time traveling, running competivelt, and scuba diving. I dont have a million dollar home or 100k cars but I have freedom. To me, it’s the best way to live. It’s total freedom.

[@lavenderrose1107]

@@imdoc7872 I completely agree and that makes sense living the life you enjoy and that brings you joy

[@Hxs28]

I am 56, I am a lawyer, a pro DJ and a music producer, most of my life I spent working on contracts, records and behind DJ boots. I never paid attention to investments but on the back of my mind there was a sort of growing appetite for this subject. I have read a few books in the past months and I saw these videos and I finally took the decision to invest money into an Index fund. I have a lot to learn and I am very happy I have discovered this channel as I can finally understand the basics. I believe that there won't be U-turns and that I will have to spend some time every week in learning and investing.

[@jinfin221]

Lawyer and a DJ? You play with the law?

[@Hxs28]

@@jinfin221 Oh yeah, drafting is something alike DJ'ing (sometimes....:) )

[@sermsaklimpadapun6054]

I read Rich dad poor dad on 2004 and it was my wake up call (several books after that of cause). It really did change my life. I retired at age 43(2017). Thanks to my friend to lend me that book.

[@rajannaik5]

Cam you give some investing tips please?

[@jollama]

@@rajannaik5Stay poor

[@mariahii9446]

Thank you so much for sharing! So happy to see UK based youtubers sharing financial/investing knowledge 🥹

[@JenniferRosenburg-v6q]

Thank you so much for this video but in these uncertain times, it is more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains.

[@annaj.osorio]

It’s best if you buy growth/blue-chip/large caps stocks only. Also, as a newbie its advisable you work with an investment advisor to help set up a well-structured portfolio.

[@MelissaBackland]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@DanielOrstein]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation

[@MelissaBackland]

Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.

[@Robbertskypes]

She appears to be well-educated and well-read. I ran an onlline search on her name and came across her webslte; thank you for sharing. I sccheduled a caII..

[@Anduardus]

Reading before sleeping is a great habit can't recommend it enough it improves sleep and personal growth and you retain more information right before sleeping

[@ariafalse5113]

I just hit a realisation, that I earn money and while I thought I was disciplined I was not. The time when I made the most money was when I had no free time to spend it or even think about it. Well, I don't want to over work myself ever again for someone else's company... I can spend my free time more wisely. Thank you for the book recommendations!

[@ESM77]

I think the absolute best advice in my own experience: the best lessons come from your own post analysis from your own trades/ investments to see how you do well and don’t do well, there are millions of ways to make money in the markets, you have to find your own. Think in probabilities, not just in gains, always respect risk FIRST. And stop listening to tv, news, hype. Always rely on yourself. Don’t make stupid decisions.

[@papaMidnite33]

I love how these books always talk about the basic stuff. And I mean the really basic stuff. No framework, or how to start your portfolio, which best practices are exactly helpful, or structured cash flow possibilities are mostly used. No understanding about taxes, financial loopholes, etc. Because the book is just a consumer good, that is one way to make money off the people who buy it!!

[@ariannarivera8629]

Can you be the first to write that type of book and then make your coin by teaching us how to make ours?

[@meibing4912]

Wow - that attracted the scammers as flies to sugar!

[@rn3302]

So whats a good book ?

[@DamienTalksMoney]

Such a good video Toby! Your take on the fact a lot of successful investors are outliers is so important.

[@chrismartin5870]

Agreed. You've got a good perspective Toby. Keep going. Gambatte!

[@robertoc4271]

I'm calling a collab!

[@blabla7752]

@@robertoc4271 please! Both great KZbinrs

[@evilzzzability]

There is no secret. There are a million equally (and a few not so equal) ways to approach investing. There are no magic bullets though, which unfortunately is what most people are looking for. You will still need the bedrocks of patience, discipline, consistency and risk management.

[@Vikturneer]

Good stuff. With a good investment plan that ensures a steady income without any doubts, I am prepared for a well organized retirement. I started investing 3 years ago and so far, I am making a good yield on my dividend.

[@Archaengelh]

What did you invest in and how has your experience been?

[@Vikturneer]

It’s not rocket science. I invested in some stocks myself using pure speculations. Long story short, I blew my account and lost it all. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $12k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now with over 71k in roi, I sit back and just reinvest at intervals while I handle my other businesses.

[@Heavenontheeearth]

Do not forget that when it comes to the stock market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence. It’s pure gambling.

[@Vikturneer]

Hermanw jonas that’s his gmail okay

[@Halllaand]

I can't deny that with his approach, I've been able to mitigate risks in this current market downturn, build sustainable assets, and prepare for future milestones, such as my retirement and my children’s education. It's better late than never for me.

[@MarkMCC-e4k]

it’s kinda crazy how nobody’s talking about Antozent, they are selling 150 self help books for the price of one

[@brian791]

This has to be a scam comment.

[@mangtombing6107]

Saw this many times

[@alexpocovnicu1843]

There's another one about the hidden art of manipulating minds 😂

[@jonathanedward5062]

I read most of them and found most of them wishy washy as you mention. I read Rich Dad Poor Dad when I was 18. It was good then, but now it would be very basic. The Psychology of Money and Basic Economics are the ones I still like though.

[@boratsagdiyev522]

I've learned reading won't make u rich. Start a business or learn real estate and read on the side.

[@mosalami2]

I have read these three. All great choices

[@noahhcams]

Millionaire Teacher is another good one. It taught me the importance of index funds and balancing them with bonds and that mutual funds should be avoided because of fees and that there's no guarantee you will beat the market.

[@mitchhills1244]

A key point to add is you can’t save your way to wealth (and even if you did, you’ll be 60+). You have to increase your income

[@pingupenguin2474]

Maybe not to be stinking rich. But I would be comfortably off now at 65, if I had known in my 20's what I know now about investing.

[@Neonb88]

@@pingupenguin2474 Never too late to start, mate

[@Dan847]

If you invest 20% of your income for your entire working life you will be quite well off by the end of it. It's simple the market only goes.up.over time. Doesn't matter what you invest in as long as it's diversified

[@mitchhills1244]

@@Dan847 20% is fantastic in general but if your income is too small it will be very slow. 20% of $100K is a lot more than 20% of $60K. Make good financial habits then increase income 👌

[@NiklasAndersson7]

You have a bunch of excellent reads there. Congrats to your work. My advise to beginners that is pretty close to bullet proof when it comes to long term investing is: 1. Work hard on increasing your savings ratio (invested / money earned). 2. Invest it in two or three index-funds. The core one in the currency you have your expenses. 3. Repeat. End of story. "The Little Book on Common Sense Investing" is the book I recommend. I've read 100+ books on investing. Many of those you listed.

[@80travisbickle]

Great video, I love reading and investing so I got some good tips here. Of those books mentioned here I've already read Rich Dad Poor Dad, The Intelligent Investor, Randon Walk Down Wall Street, The Little Book of Common Sense Investing. All great books, but my favourite book on investing is Jeremy Siegel's Stocks For The Long Run, man I wish I had read that when I was younger!

[@bikramic]

What lines did you like the most or was important in the book stocks for the long run?

[@95TurboSol]

My problem has never been saving, it's been getting enough income that saving matters much. But over the long haul of 7 years, I've almost saved enough to buy a house with cash, so my extended plan is to have no mortgage ever and use most of the money saved to invest in retirement, this should allow me to live and retire comfortably on a modest income.

[@95TurboSol]

@@SigFigNewton Pretty close with housing inflation yes, which has been frustrating to say the least. I'm hoping home prices decrease this year, which is not implausible.

[@petermorris3665]

Thanks Toby and don't forget VUAG which is Vanguards S&P500 accumulation ETF. I'm a big investor in FCIT. It has beaten VWRL over 1,3,5 and 10 years! It's a FTSE 100 company that has been around since 1868! I started investing in FCIT in the early 1990's at 60 pence per share and today it hit £9.88 per share - Happy Days! Its also domiciled in the UK, unlike Vanguard funds that are mostly domiciled in Ireland. Just saying...... Keep up the good work!

[@TobyNewbatt]

I will check it out

[@petermorris3665]

@@TobyNewbatt Comment was meant to be on the Non-Vanguard ETF video but, somehow, ended up here! Probably due to me having too much Friday night wine!

[@TobyNewbatt]

@@petermorris3665 Haha all good Peter! I didn't even clock it :P

[@S4M615]

Great video. Money a users guide definitely changed my life! Just finished reading the little book of common sense investing and it’s fair to say that i would only invest in index funds.

[@vinay4886]

Bought ‘A random walk…’ after your recommendation. What an amazing book! Thank you! The second chapter feels like it’s describing the last five years…

[@TobyNewbatt]

Such a great book that’s got some timeless lessons!

[@JD-wx3pk]

Another thing to take into account is ones own disposition regarding how willing are you to make sacrifices in order to accumulate, grow and retain wealth. Obviously there's many ways to gain wealth. But it definitely takes time and perseverance. Rich dad poor dad is a good book. Lessons like, " don't let the world push you around." M3.. multiple sources of income is something to remember. Passive income.. But you have to realize that you have to live your life as well, otherwise you'll be so rich, all you have is money. So try find a balance in life. Wealth, financial success is just a certain percentage of wealth. There are many aspects to health and wealth that sometimes aren't divulged in books.

[@anthonyrondolino8148]

The key principles are easy to identify but difficult to follow. They all require discipline, hard work and sacrifice today for a better future: 1. Earn more & spend less 2. Long term steady investment in index funds with the lowest fees 3. Don’t rent, invest in owning and the tax advantages & inevitable inflation effect 4. Try to develop income producing potential from real estate even if it is simply living where you can have a garage apartment to rent or living in a small duplex rather than a big single family house.

[@mazenalsakkaf]

"Investing is an art, not a science but you can tilt the brush in your favor by stopping yourself from interfering too much and taking your emotions out of it." Well said, Toby

[@kushmishra5028]

well , Somewhere I read Investing is nor a art and neither a science but the skill which can be develop over time.

[@Akash-iu6ik]

@@kushmishra5028 if anyone can do anything skillfully for a very long time then it becomes an art

[@virgnthermostat5928]

In my life experience, I've learned one thing that can absolutely make you successful. "It's not who you know, it's how you know them."

[@kirkclements4893]

the basics are only 2 things - learn how to do valuations on the securities you are interested in and learn to take advantage of markets by purchasing after prices fall at least 30% - rinse and repeat - as for macro economics, well, if inflation has peaked and is falling and and GDP growth is falling at the same time then the markets will give you a buying opportunity in 6 to 9 months

[@SenchManch]

Hey, What are the best books you read for understanding financial statements? thanks!

[@shimondoodkin]

About being a practitioner. You can read about the basic techniques. And doing the basics will put you on the road to success. But practicing the good things is what makes you successful. Making new mistakes each time again and again won't bring you closer to success. So you're practicing and waiting for your chance while exercising probability

[@kellyyunqianwei5882]

I am interested in reading Pete Matthew's book, though its hard to find in U.S...

[@TobyNewbatt]

might be available in digital format! worth checking on Amazon. But it is very UK focussed :)

[@curtisfarley9919]

Sir. How is it that you don't have two classics on your list? "The Total Money Makeover" (by Dave Ramsey)--A very simple read and with almost a 99% probability to make you a millionaire in less than 10 years, IF people would simply follow the process. The second is an oldy, The Richest Man in Babylon by George S. Clason. A very common sense read, but "common sense" is so very rare these days. Finally, I 100% agree with your assertion that most kids are sent out of High School and College without basic knowledge of personal finance, which is why I forced my children to take a Personal Finance course in High School.

[@365DaysofSilver]

The price of money - Rob Dix. Another great uk book 📖

[@annap8328]

Also The Simple Path to Wealth is one of the best books

[@robbie609]

Hey Toby, I work in distressed debt and this is my list of books I've read on finance and investing generally. I'd recommend for general reading and understanding of investing. - listed in no particular order. Top pick in many ways is: Security Analysis But below all have something to contribute to the understanding of the investing environment to understanding risk The Education of a Speculator The Origin of Financial Crises: Central Banks, Credit Bubbles and the Efficient Market Fallacy The Basic Laws of Human Stupidity The Black Swan: The Impact of the Highly Improbable The Impact of the Highly Improbable Antifragile: Things that Gain from Disorder Things That Gain Panic: The Story of Modern Financial Insanity See No Evil: Uncovering the Truth Behind the Financial Crisis The Money Illusion Renditeperlen aus dem Scherbenhaufen: Bankhybridkapital in der Finanzkrise Greed and Corporate Failure: The Lessons from Recent Disasters Crisis Economics: A Crash Course in the Future of Finance The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession Planet Ponzi bond and bond derivatives Hoodwinked: An Economic Hit Man Reveals Why the World Financial Markets Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud How We Know What isn't So: Fallibility of Human Reason in FIASCO: Blood In the Water on Wall Street The Ascent of Money: A Financial History of the World Corporate Turnaround (Penguin Business) The Art of Statistics: Learning from Data Crossing Continents: A History of Standard Chartered Bank A History of Standard Chartered China Cuckoo: How I lost a fortune and found a life in China Mr. China After the Welfare State (China Cuckoo: How lost a fortune and found a life in China The Great Tax Robbery: How Britain Became a Tax Haven for Fat Cats House of Cards: How Wall Street's Gamblers Broke Capitalism The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron Street Fighters The (Mis)Behaviour of Markets: A Fractal View of Risk Guide to Personal Bankruptcy and Company Insolvency, An Economic and Social History of Britain, 1760-1970 The Shock Doctrine: The Rise of Disaster Capitalism Exorbitant Privilege: The Rise and Fall of the Dollar Extraordinary Popular Delusions and the Madness of Crowds

[@TobyNewbatt]

Thank you!!!!

[@obiwankenobe3962]

"Think and Grow Rich"... Thank you! Finally someone stood up, broke the taboo and told the truth! That book was a complete waste of time for me, I have no idea why it is so revered.

[@TobyNewbatt]

It's trash from a huge confidence trickster!

[@vincenzoprimato2480]

Hi Toby, such an amazing video. Thank you for sharing. I have read the Psychology of Money and The Millionaire Teacher of Andrew Hallam. These two books and your great content in your channel inspired me in my journey of investing. I only regret I started at 33. I wish I would start in my 20 in my investing journey. My next read will be The Little Book of Common Sense of Investing of John Bogle.

[@ROYELGAMING_94]

This video is a game-changer! So much helpful information packed into one clip. I personally don't like promoting anything in comments,

[@patrickf2671]

After 25 years and countless ups and downs , I reckon I would have been better off with 3 or 4 ETFs eg S&P 500 mainly, an All World exUS developed market ETF , possibly a bond ETF, a Dividend ETF...One or two bad stock picks will demoralise you and reduce your returns down to the mean in any case (if you are lucky!). This approach is very boring but very safe IMO

[@toom2141]

yes. investing is actually super boring.

[@pingupenguin2474]

Have a read at Andrew Craig's " How to Own the World" You ars on the right track. His book showed me that it wasnt too late to change track, and how to do so.

[@Jjsssssss]

I have never met anyone in my personal life who has beat the index over 20+ years. All these people are wasting their time, and their money, to do worse than if they had just bought the most basic ETFs and then never thought about it again.

[@putonghua73]

​​​@@toom2141 Investing done well. Like many things in life from playing Go, wine, art, etc, investing requires mostly sitting on one's hands and patience. Forget getting rich, or other such nonsense because high probability it isn't going to happen. It's about generating long-term wealth. One of the salient points that Charlie Munger made in his famous speech to USC business school 1994 (I think those details are broadly correct) is to make better decisions and not to massively f up in a way that will detrimentally affect your life for many, many years. In other words, make fewer mistakes and those mistakes that you do make, should be small. Choosing the wrong partner, or wrong career (thinking short-term over long-term), and the most pernicious debt (especially credit card debt on liabilities i.e. bling) are some of the most common ways that people frequently f up that prove to be very, very expensive over the course of their lives.

[@babakdotnourani]

What about Phil Town's Rule #1 Investing?

[@TobyNewbatt]

I'm always adding more Bobby thanks for this reccomendation!

[@gmo709]

If asked to recommend an investing book to someone, I would probably recommend that Bogle book, Common Sense Investing and then several books by Ken Fisher. Maybe Debunkery and the Only Three Questions that Count. Fisher is tops for me as far as getting the big picture, debunking myths and learning to question things we have been taught. Fisher is a unique dude and extremely intelligent He leans to probabilities and does not go with the crowd. I really enjoy his books. I did like Peter Lynch books too and I am curremtly reading a Greenblat book ab the magic formula.

[@itsmarkymarc]

'The Simple Path To Wealth' was all I needed

[@cfamick]

The Stewardship of Wealth by Gregory Curtis, a wealth manager for the Mellon family who started his own firm, is a must read.

[@TobyNewbatt]

Thanks buddy!

[@muchlightandlove4312]

Which would you recommend for teaching teens? Thank you for all the learning knowledge in books that you found valuable.

[@TobyNewbatt]

Tough one! Depends if they like books or not. The richest man in Babylon is a nice easy one

[@shivaneepatell]

You don’t need 40 books on investing. You just need to read a dozen, find some mentors, and take action!

[@ytsys]

Good video. My main issue is everyone talks about becoming Warren Buffet. And so far after all these years there is still only one Warren Buffet

[@Deyan_B_Travels]

I've also noticed that most of the investing and money subject books and even KZbin videos are US based. Telling us how to deal with money as if we all live in the US. Most of the practical advices just don't apply in my country(apart from investing in stocks) because laws and financial instruments are set differently or in some cases are just not there. Finding similar knowledge based on my country is not so easy most of the time.

[@cryptocuzzins9214]

Books you read the more you'll find out that they are all basically in common with one another. To be short like everybody says some or all of the stories. It's all about how you perceive yourself how you think how you dream how you act. There's millions of investment ideas out there between real estate ,businesses, stocks,crypto precious metals. It's just which one suits your mentality best and you'll find after you get good at 1 you'll move on to another cuz you get bored.

[@reheyesd8666]

I remember a TV show called the chuckle brother. In the scene he goes in a library and sees a book on how to make a million pounds, he opened it and he read it saying "write a book on how to make a million pounds" Taking it literally or metaphorically, it's still tells you everything you need to know about reading books.

[@haya4895]

thanx a lot for the list. I want to ask, do u recommend Basic economics : a common sense guide to the economy

[@danielnation9123]

Never underestimate the value of think and grow rich! It is the foundation for all modern day self development book.

[@info781]

"Grow rich with peace of mind" is another of my favorites by Hill.

[@phasedout6769]

The psychology of money is as much about mindset as investing. Great book.

[@kwv4865]

What will make you rich? Write books telling people how to get rich

[@goranbrannstrom]

"One Up On Wall Street" is really good! Especially the part where he says "Buy stocks in companies with boring names, in boring areas that do boring things." That concept has worked very well for me. Of course "Intelligent Investor " and "Mastering the Market" is also on my Top 5 list.

[@corbinwantland7669]

Thank you for this very practical video with good advice on what to read. I already have a few picked out that I'll will take a look at. Although my goal isn't necessarily to become ridiculously wealthy ( Would still take it if I had the chance), my main goal is just to be financially stable, make plenty of money without too much worry and to be able to retire comfortably. Thank you for the advice!

[@kimboston1609]

Toby, this is up there with one of your best videos to date. So much of what you say resonates with me personally, and i'm sure it's the same with many other UK investors. Thanks!

[@TobyNewbatt]

Thank you so much for the support!!

[@aleksandardukic8880]

I’ve read some of the books here too!! Great video, great choice of books thanks for sharing

[@Caiogasp]

Love some of the books you shown, but my favorites are Guy Spier “The Education of a Value Investor” and of course “Richer, Wiser, Happier”. These 2 were in your list but you didn’t mention them. Also, 2 recommendations: The Dhando Investir by Mohnish Pabrai and all 3 books from Phil Town. These are definitely in my top 10! Nice one.

[@TobyNewbatt]

That’s Caio! Yes I have richer wiser happier too it’s a great book I need to follow up this video is there is a lot to say 😃

[@gkoretz1]

I was about to recommend the 3 books by Phil Town as well! But then I ran a search on the page and found your comment. I totally agree with you, and also Phil and Danielle's podcast is great. And I love Guy Spier's book.

[@simonkemp1030]

Has anyone invested in the Guy Spier fund Aquamarine fund ?

[@AndrewCameron77]

Trading in the Zone. Mark Douglas is a must along side the ones you pointed out. At 46 I’ve been on the same journey since January 2021, the learning never ends, all day everyday Love it! 👍🏼🇨🇦

[@bluegtturbo]

Sound advice. I would add that one of the best ways to get rich is to run a KZbin channel, build up a good subscriber base, and monetize it through advertising 😁. I listened to many of the books on KZbin for free before going to sleep at night.

[@TobyNewbatt]

Cheers buddy! Yes if you can build up a massive audience on any platform that has massive value as attention is one of the most valuable things you can have in this day and age.

[@nancysmith-p6r]

Great explanation! I have a separate question: I have the SafePal Browser Extension Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). How do I move them to Binance?

[@KeynoteKnowledge]

Rich dad poor dad and millionaire next door are the two books that got me interested in Finance. Growing up l had no one to tell me how to invest and these two books stimulate my mind to think of ideas on how to be financially wealth. I also started a whiteboard animation channel to educate people about finance, productivity under 15 min less to save time reading these books

[@lykong8]

My favourite two finance books as well

[@007NowOnline]

Im currently reading "Just Keep Buying". I heard of some of the others and will probably read one of these picks next.

[@curtis24-7]

A book I never see reviewed but I thoughly enjoyed was "How to get Rich" by Felix Dennis. He's passed away now but was one of the UK's wealthiest publishers. worth around £800m. It's a bit no nonsense and doesn't sugar coat it but also an enjoyable read. Worth checking out if you're looking for something different.

[@JakeRichardsong]

Reading the books alone will not matter. You still have to apply what you have learned and test whether it works or not. Anyone can write a book based on various claims true or false.

[@pontusschroder8361]

I fully agree.

[@frankmartinez2987]

When I was in my 20s, I was living in poverty. Eventually, I pulled myself out of it, the hardest thing I ever did. I then scrape together a few bucks to invest and focused on well run companies with competitive advantages and whose equity prices were selling at a discount. 13 years later, I now have millions. I’ve outpaced both the S&P500 and Warren Buffet’s Berkshire Hathaway by 2-2.5 to 1 during that time. It’s actually quite easy if you have a plan. If not, find someone who can help you make a plan

[@SadKaboom]

😔

[@frankmartinez2987]

@@SadKaboom Why so sad?

[@lazylonewolf]

For more advanced and/or frugal people, Simple Path to Wealth and Early Retirement Extreme. Also, Mr. Money Mustache blogs. The authors for the two books I mentioned also have blogs/websites of their own.

[@RoastyPotato]

Nothing on quantitative/technical methods? Nothing on investing systems or evaluating risk? How To Make Money In Stocks by William O'Niel could be a good read. His CANSLIM method is pretty universally respected.

[@tarnorbert5496]

Some book recommendations: Intelligent Investor and Security Analysis by Ben Graham. Little Book That Beats The Market by Joel Greenblatt, and watching Mohnish Pabrai KZbin videos.

[@Aziz__0]

I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45.

[@nabilbousabir4019]

The more I study the world of finance along with the greatest financiers the world has ever seen, the number one quality that stands out to me is their mastery over their amygdala. Also, cash flow quadrant is necessary reading for students of wealth creation. The book's central premise argues the importance of placing a premium on education. Not necessarily traditional education but the author focuses on emphasizing the importance of acquiring practical skills in commerce, personal psychology and leadership. He goes on to stress the importance of becoming well versed in business systems along with business mangement and investing as timeless routes to significant fortunes. Networking with tax advisors, legal counsel and capital market experts who practice what they preach and have proven track records are essential components for geometrically expanding one's wealth. The reason is because experts with subspecialties in those areas can advise and alert you to opportunities that can be appear opaque if you don't possess the requisite savvy. Opportunities are not going out of style. Having the knowledge however and the adequate psychology to capitalize on emerging opportunities are the foundations of wealth creation. Elite athletes have teams of coaches enhancing their performance. Elite wealth builders also have teams of coaches, mentors and counsel enhancing their performance. Students of wealth creation must understand a seminal moment in American history. In 1971 President Nixon removed the dollar from the gold standard making the US dollar a fiat currency. Saving from that point onward became an ineffective tactic for growing one's wealth. Policies and market dynamics can be transient matters and so it's critical to be plugged into the right sources in order to mitigate risk effectively and shield your streams of cashflow and investments intelligently as a way to maximize growth. This book should be made accessible to everyone on the planet. Countries and the world at large would be exponentially better for it. Educators are the real heros in this world. Teach a man to fish, and you can potentially empower an entire genetic lineage for centuries to come. Because with that skill the person will learn to catch a dozen fish today. They'll take those fish to market and earn an honest living. After a month, they'll take their retained earnings and purchase a small boat. They'll increase their supply of fish along with their income. In a years time, once again they'll purchase a bigger boat, they'll hire more hands on deck, he'll continue to grow his supply and income. In a few years time, he'll purchase a fleet, he'll give his community labor and income opportunities, and once more, he'll increase his supply and grow his income. In a few years time, he'll expand abroad into foreign markets, he'll employe more and more people, he'll create a global conglomerate and he'll donate to building schools, advise on economic policy and continue to spread the wealth for generations to come. I think the point is crystal. 😉

[@fairundcare]

Oha

[@ddruff]

Get a blog dude

[@aldomark1087]

Hi, could You please tell me what books are You referring to? Is your comment about cashflow quadrant only? Do you have another not so common but a must read book? Thanks in advance! All the best for You!

[@satyasivaprasad9234]

I think you forgot to mention the name of the book.

[@jarman365]

As far as I know there is one shortcut that doesn't involve breaking the law or luck. It involves a lot of sacrifice and discipline. It is described in the book "Early Retirement Extreme" by Jacob L. Fisker. 1 Pay off all debt, 2 reduce or make more money in order to invest 75% of income. Simple index funds will suffice. It will let you retire with your current lifestyle in 5 years (rich in my book) The math is in the book as to why it works (according to the 4% rule).

[@jackjack4412]

​@@SigFigNewton true.

[@MarkJones-yu1rs]

The fact that nobody talks about the forbidden book 25 Money Secrets From Donald Trump speaks volumes about how people are stuck in a trance

[@greenfields9977]

The guy inherited a fortune and still went bankrupt multiple times - maybe that’s why?

[@AshrafChaudhryOfficial]

Wonderful video. Greetings from Pakistan.

[@elfingord2189]

Really interesting video. While saving is crucial for building up wealth. What's really the point in "not buying something you want right now, but save money and buy something nicer later"? If I like my current job and I can save enough money for retirement, why should I restrict myself in the best and young years of my life just to look at my bank account when I am 60 and be happy that I saved 5mil...?

[@ashbennett261]

Completely agree.. I don’t believe it’s just about being rich. If you gotta wait till 60 to drive a Bentley than wtf..

[@4242brvrdbd]

You have a good point. Someone talks about this… it’s about fulfillment.. a lot of people are saving for a nice coffin, you want to spend more now because there are certain things you won’t be able to do at an older age.

[@elfingord2189]

@@4242brvrdbd agree. While it’s not the only message in this video, I think it’s pretty much the core of that FIRE thinking. Spend a little as possible now and retire early. But the misconception is that I probably don’t want to live on the same budget when I am 60 as I could when I am 25…

[@stockbro1997]

I think, investing ur personal money and making/losing money gives u the best knowledge

[@MagicSchool-iu9ru]

morlest- forbidden money books (thank me later)

[@Hairlosstreatment7]

Thank you for this magic