For many, a favorite summer pastime is relaxing with a good book. And while your children are working through their required summer reading list, you too can brush up on your financial knowledge with a helpful book (or two!) We have updated our short summer reading list to help you and your family become more knowledgeable in money management across various topics. These titles can be referenced whether you are looking for a useful source to help navigate a milestone in your life or looking to learn savvy ways to manage your finances. They could even change your perspective on investing, personal finance, and business decisions. Hopefully these books will establish an open dialogue about finances within your family or prompt new questions that will spark important conversations with your advisors.
The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness
Author: Morgan Housel
Intended Reader: Everyone!
For those interested in: The behavioral side of money management
The Psychology of Money sheds a new light on your approach to money management. It is not always about what you know but how you behave, demonstrating that personal finance goes far beyond numbers. Understanding your own psychology and biases with money (and where they come from) is very important in your approach to achieving your goals.
Just Keep Buying: Proven Ways to Save Money and Build Your Wealth
Author: Nick Maggiulli
Intended Reader: Everyone!
For those interested in: Strategies for personal finance and investing
Lowry, a personal finance expert and translator with bylines in the New York Times, Cosmopolitan, and Bloomberg, details step-by-step instructions for recent college graduates and young professionals to become more financially stable. This book offers specific advice for a variety of financial situations, like what to do when you are out with friends and can’t split the bill evenly or how to manage student loans. Lowry offers this advice through true stories to help readers reimagine their own lives and relationship with money.
Stacked: Your Super-Serious Guide to Modern Money Management
Author: Joe Saul-Sehy and Emily Guy Birken
Intended Reader: Everyone!
For those interested in: A fun way to learn about personal finance
If you enjoy the humorous banter of podcasts, Stacked is a new kind of personal finance book written by the hosts of the award-winning podcast Stacking Benjanmins. With a more comedic approach to personal finance and money management, this book looks at everything from side hustles, to planning for emergencies, to what’s new and exciting in financial apps/software.
Thinking, Fast and Slow
Author: Daniel Kahneman
Intended Reader: Everyone!
For those interested in: Behavioral economics and happiness studies
Nobel laureate Daniel Kahneman is considered to be the father of behavioral economics. Thinking, Fast and Slow will give you a new look into your mind, changing the way you think about thinking! Understanding the psychology behind making choices and the systems behind arriving at decisions is a crucial part of investing and managing your money. The behavioral side of finance helps us better identify and mitigate our own cognitive biases and make better decisions.
Beyond Diversification: What Every Investor Needs to Know About Asset Allocation
Author: Sebastian Page
Intended Reader: Strategic Investors
For those interested in: Asset allocation
One of the core beliefs within our investment process is that portfolio diversification is essential for long-term success. Beyond Diversification provides a data-driven review of the importance of diversification within modern financial markets. Diving into the details of asset allocation, you will learn about the models that are available, various investing methodologies, and your level of risk tolerance.
We hope you enjoy our selection! Let us know what books you might want to see on next year’s list!
Disclosures
Investment advice offered through Shepherd Financial Partners, LLC, a registered investment advisor. Registration as an investment advisor does not imply any level of skill or training.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
Securities offered through LPL Financial, member FINRA/SIPC. Shepherd Financial Partners and LPL Financial are separate entities.
Additional information, including management fees and expenses, is provided on Shepherd Financial Partners, LLC’s Form ADV Part 2, which is available by request.
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