Books I’ve really enjoyed and learned from…
1. My introduction to personal finance and investing:
The Wealthy Barber by D. Chilton
What more can you say about a book that has sold over 2 million copies in Canada?
The follow-up decades later:
The Wealthy Barber Returns has a familiar title but the format is anything but. This is not a novel, more like a collection of short stories or opinions from David as he chats to Canadians about money management principles or in some cases lack thereof. Throughout the book, David’s wit shines. This book is easy-to-read and the financial principles are easy to apply. Just like the original, I think this book should be on the shelves of any Canadian household.
2. Books about index investing and for beginners:
The Investor’s Manifesto – Preparing for Prosperity, Armageddon and Everything in Between by. W. J. Bernstein
Take from advice from a renowned author, financial expert and neurologist. Bernstein believes most investors do not have all the necessary attributes to manage their own portfolio. Dive into this book for market insights, investing behaviour and a thorough lesson in psychology. An excellent read.
3. Books about dividend investing:
Want to know about dividend-paying stocks? Want to know what dividend-paying stock to buy? Download this book FOR FREE here.
An excellent book for the new or experienced investor. Jarislowsky suggests one should remain in stocks. For great long term returns, he suggests you go for top-quality stocks; basically established companies that have a long history of paying dividends. His book will also tell you which ones to own.
Stop Working – Here’s How You Can! by D. Foster
This book smashes some common myths and shows the reader exactly how anyone can achieve early retirement following a simple, proven strategy. The book raises provocative questions such as, “If your financial planner has some special investing skill, why isn’t he rich already – and retired?” And “If he can’t create an early retirement for himself, how will he do it for you?” I interviewed “Canada’s Youngest Retiree” here.
4. General Personal Finance:
5. Financial Independence and Retirement Planning:
One of my favourites! Are you optimizing your money for your life energy? Your Money or Your Life will help you create your financial roadmap. It will show you how to move from financially independent thinking, financial intelligence, financial integrity to financial independence – the by-product of having an income stream sufficient for your basic needs and comforts beyond a source of paid employment.
Learn about the four (4) pillars for a solid retirement plan in Canada and how you can structure your portfolio to take advantage of them.
- Pillar 1 is the Old Age Security (OAS) and its companion program GIS.
- Pillar 2 is our Canada Pension Plan (CPP).
- Pillar 3 includes an array of tax-assisted vehicles such as Registered Retirement Savings Plans (RRSPs), Tax Free Savings Accounts (TFSAs) and more.
- Pillar 4 includes assets accumulated over your lifetime such as your primary residence, vacation property (if you are lucky to have one), or stocks held with your brokerage firm in a taxable account.
Easily one of my favourite semi-retirement or retirement planning books in Canada. Read about Diamond’s six-point plan to arrive at the income objective needed for retirement.
You’ll also learn about an important “cash wedge” strategy to consider as well.