Sweet 16 of Finance Books
It is March Madness time (one of my favorite times of the year).
We are about to head into the second weekend of the tournament better known as the Sweet 16. It is considered a big deal within college basketball to make it to this round of the tournament. For a small school - getting to the tournament is a big deal and making it to the Sweet 16 can transform the entire future of a program, university awareness and the career trajectory of players and coaches.
In honor of this weekend I wanted to share my Sweet 16 of finance books and share them with a March Madness theme.
“Blue Bloods”
These are the old school programs with long standing tradition and sustained success over the course of history.
Think and Grow Rich by Napoleon Hill - this is all about the traits of highly successful people
The Richest Man in Babylon by George S. Clason - Narrative story about how to manage one’s finances
The Intelligent Investor by Benjamin Graham - Value investing wisdom and the heart of investing strategy of Warren Buffet and more
Winning the Loser's Game by Charles D. Ellis - a primer on how to understand investing, fees, taxes and more to improve your long term success
“Upstarts”
These are the powerful books that have not been around long but have staying power and will be considered “Blue Bloods” over time.
The Psychology of Money by Morgan Housel - Probably the best written book on your relationship with money.
Adrift by Scott Galloway - beautiful and compelling book that presents America in 100 charts to help you know where we are and how we got here.
The Algebra of Happiness by Scott Galloway - another one by SG. This one connects money to what matters most and how we should think of happiness.
The Future Poor by Me - I have to plug my own work, right?! This is my dream for my book and my work. New and a departure from other finance books.
“Mid-Majors”
These are really strong and powerful books that you may not have encountered because they aren’t the large, highly marketed books, but you need to pay attention to them and take them serious.
Why Wall Street Matters by William D. Cohen - My wife lovingly wrote on the first page of this book “It doesn’t.” Actually, it matters quite a bit. This is a great history that helps you learn about the importance, the problems and what Wall Street does.
Saving Capitalism by Robert Reich - written by one of my heroes, Reich shares the story of Capitalism in America in recent history in order to return our economy back to being beneficial for each of us.
The Big Short by Michael Lewis - Lewis is one of my favorite financial writers and storytellers. You need to understand the 2008 Housing Crisis to help yourself and see potential future issues.
The Overspent American by Juliet Schor - If there was ever a book that screams “It is not your fault!” this is it. The world has changed and the expense of necessity and survival impacts us seriously.
“Cinderella Story”
These are the underdogs that go deep and make a long run. The small schools that no one expects to compete. The bust brackets and are unconventional.
Tax Bomb in Your Retirement by Josh Scandlen - this is a tiny powerful book that is more like a pamphlet because of its size. This one is transformative to understand how much in taxes you are storing up in the future and all the problems that come with that.
Killing Sacred Cows by Garrett Gunderson - There is a lot of finance “rules” we hold sacred that we really shouldn’t and actually end up hurting us financially.
The MIllionaire Fastlane by MJ DeMarco - this is good one for someone wanting to invest in themself and get out of the slow lane of the 9 to 5 for 50 years.
The And Asset by Caleb Guilliems - this is the best book describing the value of different assets and how to understand how each asset works while describing the additional value of permanent insurance.
“Upsets”
These are the major books that everyone picks but they lose early. These are books I do not recommend but everyone loves. I also call them “Upsets” because you might be upset that I don’t like them. Feel free to email me and we can chat about why.
Total Money Makeover by Dave Ramsey
The Simple Path to Wealth by JL Collins
Rich Dad, Poor Dad by Robert Kiyosaki
I Will Teach You to be Rich by Ramit Sethi
Hope you enjoy this list and happy reading!
Jonathan