Investing Insights and Books for Investors

Dear Readers!

Thanks for holding on to us over all these weeks. This week bring a different topic than the usual ones.

Whether you are a veteran investor or just starting out with your first investment, it always pays well to keep abreast of the insights from the great investors of all time.

Hence , we bring to you some of the great learning takeaways for building an investment psychology along with some book recommendations.

Did you know that Warren Buffett reads 500 pages per day? Buffett says that, “Knowledge builds up like compound interest.” and we couldn't agree more !

So lets get started.

  • Develop a positive money mindset

It all starts with changing your psychology. The most important part of being able to achieve your goals requires having the right mindset.

Sounds simple enough right?

Well, it isn't always that easy to keep your mindset in check, its like a muscle  and each time you have to make a decision, you deplete some of it and have to work to maintain it continuously.

Here a few action points :

Improve your financial wellness - Getting to wealthy actually starts way before you open that investment account or make that first deposit into your savings account. It starts with a simple decision,

by deciding to be financially successful. and for this you need to define your goals. Ask yourself - What is that I want to accomplish in life when it comes to money?

Look for examples around you - Managing or investing money isn’t rocket science nor is it something new. There are millions of success stories out there that you can learn from. Discuss it out in your family and colleague circle, read books or 

or start regularly browsing the Internet for advice from some of the best finance blogs available.(including ours!)

Shed your beliefs about money - There are myriad of myths related to money and stock markets, busting these are essential if you want to adopt a clean money mindset.

Is Money the root of all evil? NO ! It’s how we manage our relationship with money that can make it seem that way. Most of us have a complicated relationship with money. And its money blocks holding you back from achieving your dreams- get rid of them.

A common saying in every household, "Money doesn’t grow on trees", It certainly doesn’t… until you master how to invest and leverage the power of compounding ! (read here)

You need not be smart to become wealthy, it’s your drive and not intelligence that contributes the most to your financial well-being.

Lets take an example, you can either overspend your credit card limit and pile up high-interest debt or you can use the credit cards responsibly ,pay dues on time and build up your credit score to get rewards.

As simple as that , right ? Small changes bring in huge change waves!

  •  Money mantras to change your way of thinking

Consider this as a cheat sheet for days when you really need an affirmation to repeat to yourself. Saying these kernels of wisdom aloud can help instill a sense of positivity around your financial situation.

The only person who has control over your life and finances is you! Don’t let your job, society, or even your loved ones dominate you.

Try not to shop for yourself (too much) during those awesome sales. We know its festival season, specifically in India, but with all the crazy deals that go on around this time of year add the fact that you constantly have shopping on the brain, it’s way easy to overspend. Before you jump in and start elbowing parents and friends to hit the shopping floors set a budget for yourself. And stick to it. Seriously.

Another important point, adopt frugality as much possible. For you social butterflies out there that can’t seem to turn down an invitation to party every other evening, invite your friends home.; it’ll cut down on your bar tab significantly.

  • Every Investor Must Read

We know you you are busy, have jobs, families and a life so you probably can’t spare that much time to reading. Regardless, we have got some great investing book recommendations for you for this year. 

If you need help on reading , let us now . For now we emphasize on sparing 40 minutes everyday reading on self-help and investment/finance books.

Reading such books can help train your mind towards the importance of investing and the wonders it can do in wealth creation.

Note :This not an exclusive information, of course we have heard it all and read it all. However its a minor step to motivate our readers who are beginners and new to investment world, to help set a direction for them!

Start with these. (These books will guide you, motivate you and open your eyes to a healthy mindset for investing)

 1. Rich Dad Poor Dad :

“The only difference between a rich person and a poor person is how they use their time.”

This book by Robert Kiyosaki is like a bible for investors. 

One of the main reasons for financial struggles is that most of us only think about our expenses , but never bother about making more money.     

While we do understand the benefits of savings, however, we may not know how to create or manage our money. This book comes very handy here.

Why Should I read this ? To make your money work for you and not the other way around!

This book will change your thinking on how you view money. Its written in an entertaining way, without the complicated financial jargons.

So, take our advice, invest in this book and embrace the ‘wake-up’ call we as investors need to understand.

You can get hold of the book here. ( no this is not an affiliate link, and we do not make any penny here)

2. Think and Grow Rich : 

Another simple yet influential tomes in the wealth development sphere is the book by Napoleon Hill. The lessons from this book have always proved out to be time-tested.

Can you really think and get rich? Yes and No ! Read the book to discover the answer along with some tips and tricks to developing the “correct” mindset.

The author has shared 13 principles required in a person in order to become RICH, two of our favorites are - The power of Thought and the The Subconscious Mind

Find it here.

3. Rule #1 by Phil Town

This book blends the modern investing techniques with Buffett-style investing and guides you step-by-step through the analysis process. Its a must read for beginners to the super know-it-alls.

This book is a refreshing departure from those boring investing books . It busts a lot of myths in the market and provides pearls of common-sense wisdom.

So what is rule no 1 ?  “don’t lose money.” 

Other rules are: don’t diversify…think like an owner, not an investor… never, ever be seduced into thinking the market is efficient etc.

While there are millions of books available besides the free data on internet, the above recommendations are our personal suggestions for taking that first step.

The Bottom Line 

Just like the majority of all life and business advices, the lessons we can learn from these great investors and finance giants are easy, effective and uncomplicated.

You’ve probably heard or read  about most of these lessons various times, but as always, the question is did you apply them?

If you begin applying one piece of advice at a time, you might soon realize how these small steps accumulate and lead to changes in your life, financial wellness and freedom!

Until next Thursday.....Happy reading!

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