Here are some of my favourite personal finance/investing books

nolanj

New member
The Simple Path to Wealth - J. L. Collins

The Psychology of Money - Morgan Housel

Rich Enough? - Mary Holm

If anyone has any favourite books to share feel free..
 
@nolanj I probably read a dozen finance books a year, i'm a bit addicted. But 99% are written for an American audience, so be super careful applying that to NZ. But the only one book you should need to read is A Random Walk Down Wall Street (Burton G. Malkiel)
 
@garrettholliman2001 That’s a very good point! That’s why I liked Mary Holm’s book as it’s specifically for New Zealanders. Though I feel like majority of the concepts from the other books are still relevant for an NZ investor. Are there any specific parts you think as New Zealanders we should be wary of?

My biggest takeaway from these books is the drip feeding into passive index funds over the working career with the set and forget strategy and letting it compound over the decades.
 
@nolanj
Are there any specific parts you think as New Zealanders we should be wary of?

well off the top of my head ...

tax - everything in this sphere is different, what is taxed, how its taxed, tax free and taxed accounts etc.

retirement - 401k, IRA, vs kiwsaver government superannuation in nz is quite different from the us Social security.

ETF's -tax efficient in the US, the opposite in NZ.

PIE funds.

FIF tax.

Home country bias for a country that makes up 60% of the investable world vs 0.2%.

American parochialism.

Medical - us insurance vs nz publicly funded.

Management fees on almost every NZ product is higher.

Many more available investment products in the US vs NZ.
 
@nolanj The Millionaire Next Door

The Richest Man in Babylon

One Up on Wall Street

University of Berkshire Hathaway

The Little Book of Common Sense Investing
 
@nolanj I think the millionaire next door is a classic. Just replace the million amount for something appropriate for our times or situation.

I recently read richer, wiser, happier by William green. It's a very good read, it focuses on the great investors. Alot of them continue to be non materialistic regardless of their accumulation of wealth. This is comforting to know.
 

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