5 of the best foundational books for aspiring investors

If you're a novice at money matters and you want to start investing, you need to first invest in some smart literature. There are countless books written by celebrated authors and successful entrepreneurs on a variety of financial topics. Whether you're looking for a book on property investment or a study of Wall Street, you are sure to find a publication that caters to your needs. We've compiled a list of five foundational books for aspiring investors that are sure to have an impact on your life.

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A Random Walk Down Wall Street by Burton Malkiel

This book by distinguished author, Burton Malkiel, focuses on publicly traded markets. Throughout the book, the writer encourages his readers to keep their investment portfolio simple. He covers a range of topics from diversification and indexing to modern portfolio theory. In addition, he also gives readers an insight into the history of the stock market. If you're looking to learn more about investing in mutual funds, bonds, ETFs, and stocks, this book is just right for you.

Getting Things Done: The Art of Stress-Free Productivity by David Allen

This book doesn't deal with investment per se, but it helps the reader understand how to conquer various concerns in his or her life. The reason it has made it to this list is because investors need help to manage their time and tasks more than anyone, and this book provides just that. Getting things done will give you a better perspective on overall money matters, and it will drive you towards hard work and productivity.

The Intelligent Asset Allocator by William J Bernstein

William J Bernstein is a self-taught practitioner of modern portfolio theory. This uncommon read provides the most precise methodology and examples for asset allocation. Throughout the book, the author gives credence to a DIY model of investing. In today's age, his wisdom is treated as common sense in the world of robo advising and index investing. This book is a notable homage to Benjamin Graham's The Intelligent Investor.

The Millionaire Next Door by Tom Stanley

If you're walking the path towards financial wisdom, Tom Stanley's seminal classic is a must-read. Through this book, the author points out notable differences between flashy, consumption-oriented wealth and actual wealth. The writer's research paints a clear picture of the myriad behaviours and characteristics you will see in the wealthy majority. It is an enriching read for small business owners who want to build their fortune the old-fashioned way.

Rich Dad Poor Dad by Robert Kiyosaki

This list would be incomplete without the mention of Kiyosaki's famous book. Even if commercial real-estate and land-lording doesn't interest you, you should still give this book a read. Through his book, the author educated an entire generation of investors to understand that a home is a liability and not an asset. Focusing on income, good deals, and creativity, this book serves as an eye-opener to everybody who reads it.

Reading these books will make any aspiring investor responsible about their personal finances. Getting started is the hardest part, but once you're past that, you will be better at making investments than you ever thought possible.