After I Read 40 Books on Investing - Here's What Will Make You Rich

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This video looks at some of the best-selling books on money, personal finance, business and investing and I discuss how reading them has changed my mind on how I think about money, investing, and life. Can some of the lessons from the world's best investors also make us rich? Are the best-selling books actually the best books to read? Let's go find out and I'll tell you everything I've learned.
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Опубликовано:

31 янв 2023

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Комментарии : 1,6 тыс.

@PrikaMile 2 месяца назад

I read a book called "earn more money than your boss" and it opened me completly new dimension off making money, if u are begginer and want to start a bussines I highly recommend you this book, it helped me soo much and because of it now I have my own bussines

@audicoop 2 месяца назад

Is it worth it though?

@dimitrijedjapic2875 2 месяца назад

@@audicoopyess I bought it too before 1 month and there is sooo much money secret tacticts and hidden knowledge

@dimitrijedjapic2875 2 месяца назад

@@audicoopsure, I bought it and its very good book

@dimitrijedjapic2875 Месяц назад

@@audicoopofc its very good book

@grindtoil Месяц назад

this is a scam dont fall for it there is a new trend with scam ebooks

@MillieFord-gq1kz Месяц назад

Reading 40 books on investing is impressive! It's great to see such dedication to financial education. The real key to getting rich is applying what you've learned consistently and making smart, informed decisions. Keep up the great work!

@MariettaDiane Месяц назад

Reading and learning are crucial first steps, but the true transformation happens when you start applying that knowledge consistently. It's all about making smart, informed decisions and sticking to a solid financial plan. Keep it up, and you'll see great results!

@DestinationWealth1 Месяц назад

@@MariettaDiane So true.

@rayrwyr Год назад

Best advice: "Do not save what is left after spending. Spend what is left after saving" - Warren Buffet.

@hanselteixeira8597 Год назад

Didn't understand

@reheyesd8666 Год назад

Easy to say when you have unlimited money.

@ShaanNotShawn Год назад

@@hanselteixeira8597 For example: Have a fixed savings amount per paycheck. For example you are paid $5000 a month and your savings goal is $3000 Save 3000$ first and your left over spending budget is 2000$ Don't Spend $3865 and save $1135 because that is just what happens to be left over.

@hanselteixeira8597 Год назад

@@ShaanNotShawn ok now I got the concept thanks shaan

@HostileGingerATL Год назад

@@reheyesd8666 he has unlimited money by living by that saying. Now he has unlimited money.

@Meugor_cruel 10 дней назад

Guys I am shocked. I didn't want to talk about this but I have to. I found a page of banned books and read Manifesting Money to see what it's about. I was shocked by what it reveals and saw the reason for it being banned

@ysljavale3274 4 дня назад

How can I read it?

@wdeemarwdeemar8739 Год назад

For me I am over 50 now and became a 401 k millionaire and think the turning point was not taking my money out during 2008 2009 crash and just kept dollar cost averaging into the market. All my family and friends took their money out and never came back in, came back in but not aggressively, or waited to long and came in buying high. Trying to time the market and failed. I am just going to keep dollar cost averaging. S and P and world stock market. The real secret formula is compounding over time. Can’t win if you don’t play. But also we drive Hondas, save first and I know where every dollar goes and chose a wife who actually hates shopping.

@A_T_O_M_I_C_Rooster Год назад

This. Although, you kind of gloss over being able to stay in the market (i.e. have a job) during those nasty years. Some people..a lot of people...simply were not able to do that.

@ViktorKreisz Год назад

I drive a Honda too… so Am I on the right track? 😂 Well done by the way! I’m glad you made it!

@EddieP2001 Год назад

I'm planning to be there by 50 and Good job! Hoping you can elaborate if you ever tried to invest yourself and if you borrowed off your 401k? How did that turn out

@Klaus80804 Год назад

"chose a wife who actually hates shopping" - this is the ultimate piece of advice, because such a woman is harder to find than the best-performing stock. The alternative is to stay single 🙂!

@REDDEMON200K Год назад

@@Klaus80804 😭😭🤣🤣

@BillyWright-xg6ig 2 месяца назад

If you ever listen to anything while reading comments, let it be this - read the book 25 money secrets from Donald Trump, then come back and thank me

@shrikartummala8055 2 месяца назад

Who the hell takes advice from a man who lies about pretty much everything including his personal finances and has filed for bankruptcy?

@leonradman7473 3 месяца назад

Toby, thanks for the video and a lot of brilliant books to read, I would like to mention the book Astro Money Alchemy because that book deserves it, it goes deeper into all these mysterious knowledge and secrets of money so all the recommendations and once again well done for the video

@dr.MadisonSoley 2 месяца назад

borlest - forbidden money books (thank me later)

@Mrfunny663vnb83 2 месяца назад

Scammer

@alexjones2855 Год назад

The millionaire next door, is a great read. It is a PHD researched paper on millionaires in the US. Quote "Think of money as a game, if you make a lot of money you have great offense. If you can save you have great defense. Defense wins the money game", or something like that

@TobyNewbatt Год назад

Yes I’ve just been putting it on as an audiobook! What a great book so interesting!

@Sharpshooter649 Год назад

the best defense is a good offense

@davidglad Год назад

@@TobyNewbatt Tom Stanley's (same author) The Millionaire Mind (second book) also has the great quote "It's not really how smart you are. It's how you are smart." That was my first exposure to the author. As I got the book in, no joke, audio cassette form for maybe $0.25 at a library book sale. Speaking of great value for little money. (Libraries are also a great source of books if you have a well stocked one nearby, of course.) PS If you have watched Berkshire Hathaway's annual meetings, sounds like a recurring theme from Buffett and Munger that they made most of their money by just sitting on their hands and doing nothing after selecting their investments. Although Munger shrugged it "didn't contribute to human knowledge" at one such meeting, I'd heavily recommend Robert Hagstrom's The Warren Buffett Way. (Any edition is good. Ironically that third edition might be weaker, given it features Berkshre's dog of an IBM investment, among not really contributing anything new.)

@TobyNewbatt Год назад

@@davidglad Thanks David for taking the time to comment!

@Rujee8 Год назад

@@Sharpshooter649 the best offense is great defense

@LawrenceGladney 11 месяцев назад

I’m 25. Started reading financial books lately. I ditched social media and I’ve been reading more and studying what’s going on with the world and our economy. I feel like I’ve learned more from these books and applying them into my life than I did from college.

@LifeOdysseyMotivation 11 месяцев назад

agree! me too I ditched social media a year ago. I am so stupid It's been 30 years that I am always playing the lottery. Now I don't have savings and I am so depressed. I have also started reading books and watching videos about finance and investing, financial literacy, and financial freedom. glad you made an excellent move at 25. Me I'm 48 now and I know nothing and I don't even have a skills. I just relied on luck and chance and that f*cking law of attraction! Do you think it's too late to start all over again?

@LawrenceGladney 11 месяцев назад

@@LifeOdysseyMotivation I tell myself everyday as long as I’m still breathing and I am able to work it’s not to late. We just have to find opportunities and capitalize on them. I don’t plan to be rich, I just want my freedom. I still have trouble budgeting and I’m looking for a second job now just so I can invest more and save more. With you being 48 I can say you just have to build you a blueprint and attack it aggressively. From the things I’ve read, we have to understand the importance of acceptance. We have to learn to be happy with what we have instead of depending on the things we don’t have to make us happy. Trust me even at a younger age than you, I struggle to find more ways to increase my income and build skills because I have so much to learn and me being in Mississippi doesn’t really help with opportunity. I see what I want to do so now I just have to follow through. Set that goal. Go for it till you can’t go anymore. Don’t worry about losing, just learn from it. Every loss you’ve taken learn from it. Those losses are really blessings in disguise. I hope you find a way 🖤

@achillescappaert4771 11 месяцев назад

@@LifeOdysseyMotivation Of course you still have a chance ! You keep on going and learning about finance.

@LifeOdysseyMotivation 11 месяцев назад

@@achillescappaert4771 Thanks.

@jane_doe_vp 11 месяцев назад

Can you share what you have been reading? :)

@Mattamillion-vk2pf 10 месяцев назад

I bought 'Psychology of Money' and read it this summer because of this guy's advice and he's right. The book is a great. I wish I read it when I was 18.

@jti107 Год назад

1. live beneath your means 2. save for an emergency fund 3. invest in index funds as soon as possible 4. start an account to buy the stocks you like (see if you can do better than an index fund over 5 years) 5. invest in yourself and make yourself invaluable so you will get paid more

@satyanveshi1939 Год назад

The best and simple 5 steps to financial freedom and nirvana

@IgorGruendl Год назад

😊

@user-fv6ke8vv2z Год назад

Lifestyle is important - getting married - having a family to support is many times a shortcut to the cemetery 😢

@anikatasnimsaba Год назад

I'm dumb because I don't understand stocks and investing. I'm like a 1 year old when it comes to finance. Where can I learn financial education?

@user-fv6ke8vv2z Год назад

@@anikatasnimsaba - firstly - you aren't dumb because you have a desire to learn / All it takes is some kindness and time from another person to explain things to you in a slow understandable manner...

@KiyosakiSays Год назад

“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” - Robert Kiyosaki

@finniebear6744 Год назад

The rich has more than sufficient budget to buy food from what is left while the poor barely can’t feed themselves and their kids with the penny salary. 😢

@abhishek-soni Год назад

land bc

@DuroSVK Год назад

@@finniebear6744 perhaps thats why you poor then 😅

@ikllnp Год назад

Im rich

@DuroSVK Год назад

@@ikllnp hi Rich

@marshanco32 Год назад

Think and Grow Rich was not only about positive thoughts. It’s also about having a burning desire to create a product or offer a service. Then believing and manifesting the life you want through your conscious and subconscious. That’s a big part of how you can think and grow rich. Create and Manifest through a strong beliefs/daily affirmations!

@d.dimitrov8972 Год назад

Trash book with no clear direction to move forward or anything. Would a rich person look at himself in the mirror and affirm "I am rich/I am wealthy"? No. He would probably be taking action on his clear goals instead.

@PeteBuchwald Год назад

"It seems the harder I work, the more luck I have" Thomas Jefferson

@thapelonelsonntlhabo5998 Год назад

Spot on. Becoming rich is a mindset thing.

@thapelonelsonntlhabo5998 Год назад

@@d.dimitrov8972 I disagree. Positive thinking (affirmations, etc) does work. I can attest to it.

@vantage789 Год назад

So 'The Secret' basically.

@cathyspiegel6765 11 месяцев назад

Financial books have been so helpful. I bought my 1st home at 21 for 87k sold for 197k, 2nd home 170k and sold for 320k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc... It is possible and very lucrative as long as all steps and details are followed.!!

@nene49er19 28 дней назад

Which books you have?

@faizanyaseen6197 Год назад

Think and grow rich is my favorite one, it doesn't only ask for a positive mindset, it actually shows the path how to translate a desire to reality. This one book had a great impact on my psychology.

@umaiswaqar8075 11 месяцев назад

but youre still poor, thats his point, the book over emphazises the importance of positive thinking ang just keep going while this is not the key to financial freedom

@LifeOdysseyMotivation 11 месяцев назад

@@umaiswaqar8075 Toby said that book is wishy washy

@dalethedippa5822 10 месяцев назад

@@umaiswaqar8075it not only is the key to financial freedom, it's the key to everything. It's a book about manifesting literally all of your dreams. It's just not easy to read and is very anecdotal and people don't have the patience to truly understand it

@richardmupindu4996 8 месяцев назад

It is the best book of all times

@papaMidnite33 Год назад

I love how these books always talk about the basic stuff. And I mean the really basic stuff. No framework, or how to start your portfolio, which best practices are exactly helpful, or structured cash flow possibilities are mostly used. No understanding about taxes, financial loopholes, etc. Because the book is just a consumer good, that is one way to make money off the people who buy it!!

@ariannarivera8629 Год назад

Can you be the first to write that type of book and then make your coin by teaching us how to make ours?

@meibing4912 Год назад

Wow - that attracted the scammers as flies to sugar!

@rn3302 Год назад

So whats a good book ?

@Dan847 Год назад

"everyone is a genius in a bull market" most golden snippet I've ever seen. People REALLY underestimate long term investing and the time value of money

@sermsaklimpadapun6054 Год назад

I read Rich dad poor dad on 2004 and it was my wake up call (several books after that of cause). It really did change my life. I retired at age 43(2017). Thanks to my friend to lend me that book.

@rajannaik5 Год назад

Cam you give some investing tips please?

@jollama 5 месяцев назад

@@rajannaik5Stay poor

@mikeyluk5113 Год назад

It’s all about goals. If it’s having money for retirement (my goal) just dollar cost average and reinvest dividends and don’t panic when market tanks for a bit. I would also say just choose an S&P index fund and save on expenses. I’m 60 and have approximately $4.5M. I’m a retired government worker and my wife stopped working full time when we had our child. We live in the Washington DC area so cost of living is higher than most of US. Live within your means and pay yourself first….

@massafelipe8063 Год назад

Pretty much my same goal, also government worker, but 30 years younger and 4,2 mil poorer. Also, coming from a much poorer country but I we also lot $ less to be comfortable I guess. Great post.

@jackjack4412 Год назад

That's awesome. It sounds like you're set for life in regards to finances.

@dwalker5175 Год назад

I’ve done graduate studies in finance, completed CFP education, applied everything learned into investing. Never, not once, have I beaten the S&P 500 nor the total US market index ETF. One exception was being a true (legal) insider in a business that went public over 20 years ago. This however doesn’t count because I was at the right place at the right time for that. I’ve been in broad market ETF’s with dividend reinvestment for over 15 years and sleep well..

@DamienTalksMoney Год назад

Such a good video Toby! Your take on the fact a lot of successful investors are outliers is so important.

@chrismartin5870 Год назад

Agreed. You've got a good perspective Toby. Keep going. Gambatte!

@robertoc4271 Год назад

I'm calling a collab!

@blabla7752 Год назад

@@robertoc4271 please! Both great RU-vidrs

@mariahii9446 Год назад

Thank you so much for sharing! So happy to see UK based youtubers sharing financial/investing knowledge 🥹

@ariafalse5113 Год назад

I just hit a realisation, that I earn money and while I thought I was disciplined I was not. The time when I made the most money was when I had no free time to spend it or even think about it. Well, I don't want to over work myself ever again for someone else's company... I can spend my free time more wisely. Thank you for the book recommendations!

@corbinwantland7669 11 месяцев назад

Thank you for this very practical video with good advice on what to read. I already have a few picked out that I'll will take a look at. Although my goal isn't necessarily to become ridiculously wealthy ( Would still take it if I had the chance), my main goal is just to be financially stable, make plenty of money without too much worry and to be able to retire comfortably. Thank you for the advice!

@Hxs28 9 месяцев назад

I am 56, I am a lawyer, a pro DJ and a music producer, most of my life I spent working on contracts, records and behind DJ boots. I never paid attention to investments but on the back of my mind there was a sort of growing appetite for this subject. I have read a few books in the past months and I saw these videos and I finally took the decision to invest money into an Index fund. I have a lot to learn and I am very happy I have discovered this channel as I can finally understand the basics. I believe that there won't be U-turns and that I will have to spend some time every week in learning and investing.

@jinfin221 3 месяца назад

Lawyer and a DJ? You play with the law?

@Hxs28 3 месяца назад

@@jinfin221 Oh yeah, drafting is something alike DJ'ing (sometimes....:) )

@S4M615 Год назад

Great video. Money a users guide definitely changed my life! Just finished reading the little book of common sense investing and it’s fair to say that i would only invest in index funds.

@morebeer7673 Год назад

I think The Richest Man In Babylon was a great book on basic personal finance. Not necessarily investing-centric, but about how to create a personal economy that lifts you out of the cycle of debt and poverty into wealth. Great video! Best financial advice I ever heard related to living below your means - The Rich stay rich by living like they're poor. The Poor stay poor by living like they're rich.

@hikmifouzi4505 Год назад

Love the book

@jayangli Год назад

More beer the richest man in Babylon is the best book ever written. It is very underrated because it isn’t really by a motivational author. George S. Clason was a real business man. There is a lot to learn from other mentors. Wealth is a study, no one can do it for you. But the richest man in Babylon. It is my belief is if you can’t save money and keep it, you can’t get wealthy.

@blackrajawhiterani6894 Год назад

My fav book❤

@mosalami2 Год назад

Yes the Richest Man in Babylon is a great book

@balemohamad6135 Год назад

Best book ever ❤

@anthonyrondolino8148 Год назад

The key principles are easy to identify but difficult to follow. They all require discipline, hard work and sacrifice today for a better future: 1. Earn more & spend less 2. Long term steady investment in index funds with the lowest fees 3. Don’t rent, invest in owning and the tax advantages & inevitable inflation effect 4. Try to develop income producing potential from real estate even if it is simply living where you can have a garage apartment to rent or living in a small duplex rather than a big single family house.

@FoodShowFan Год назад

Thank you SO much for listing and linking the books in the descriptions. Thank you!❤

@80travisbickle Год назад

Great video, I love reading and investing so I got some good tips here. Of those books mentioned here I've already read Rich Dad Poor Dad, The Intelligent Investor, Randon Walk Down Wall Street, The Little Book of Common Sense Investing. All great books, but my favourite book on investing is Jeremy Siegel's Stocks For The Long Run, man I wish I had read that when I was younger!

@bikramic Год назад

What lines did you like the most or was important in the book stocks for the long run?

@imdoc7872 Год назад

Great video mate. I’ve only read 20+ books on finance and investing and I concluded that the majority should not try to beat the market. Getting rich is a mind set of discipline and living below your means to truly build wealth and not just look rich. Dave Ramseys’ seven baby steps are a great way to get disciplined and Warren Buffet’s 90/10 portfolio is the way to go. It does not get easier than that. I’m living proof that it works.

@SnowWhite-dr6xh Год назад

Ever read Reminisces of a Stock Operator? Market Wizards? The folks that do beat the market get rich, and many of them are terrible at money management, but stay rich because they are good at making money. But most people lack and the passion needed to be a successful speculator. So yes, for most folks trading is too stressful or too boring or too hard. But I believe more would be able to make it work if they tried.

@Stamcia Год назад

same thoughts mate. Ive tried to beat the market and got really ahead and lost everything. I could repeat that every cycle but thats not the point of smart investing. Now going for the long term with discipline and knowledge about how this look and that history repeats itself so no need to panic sell/buy if things go south

@lavenderrose1107 Год назад

There needs to be another way cuz what’s the point of hoarding money you can’t use esp if u don’t have kids. I get you should save that makes sense to have a rainy day fund but what’s the point of life if you did nothing and lived like a hobbit for 20 years just to use it for medical bills later 👀

@imdoc7872 Год назад

@@lavenderrose1107 you can choose to live however you want but to live to impress others is very stressful, especially when you become a slave to your material possesions. I can work whenever I want and spend most of my time traveling, running competivelt, and scuba diving. I dont have a million dollar home or 100k cars but I have freedom. To me, it’s the best way to live. It’s total freedom.

@lavenderrose1107 Год назад

@@imdoc7872 I completely agree and that makes sense living the life you enjoy and that brings you joy

@Addisonbil336 Год назад

Successful people don't become that way overnight. What most people see at a wealth, a great career, purpose is the result of hard work.

@Debbiemoris7652 Год назад

You're absolutely right, I was able to build a big income stream despite the dip in crypto investing with Mrs komarz and her team management . I appreciate your hard work Sheryl.

@Britneydams6547 Год назад

*MARSHERYZ* 👆🏾

@Britneydams6547 Год назад

*She's always active on the tele gram app with the name above*

@Mandisadaka Год назад

I'm not here to converse for her but to testify just for what I'm sure of, she's trust worthy and best option ever seen.

@rockjockchick Год назад

So true

@vinay4886 Год назад

Bought ‘A random walk…’ after your recommendation. What an amazing book! Thank you! The second chapter feels like it’s describing the last five years…

@TobyNewbatt Год назад

Such a great book that’s got some timeless lessons!

@vincenzoprimato2480 11 месяцев назад

Hi Toby, such an amazing video. Thank you for sharing. I have read the Psychology of Money and The Millionaire Teacher of Andrew Hallam. These two books and your great content in your channel inspired me in my journey of investing. I only regret I started at 33. I wish I would start in my 20 in my investing journey. My next read will be The Little Book of Common Sense of Investing of John Bogle.

@kimboston1609 Год назад

Toby, this is up there with one of your best videos to date. So much of what you say resonates with me personally, and i'm sure it's the same with many other UK investors. Thanks!

@TobyNewbatt Год назад

Thank you so much for the support!!

@jasewesley5061 Год назад

Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?

@joyjoan3744 Год назад

Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong

@gesine08 Год назад

Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade

@LucasLiam118 Год назад

I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Janet

@hilda45 Год назад

Wow I'm just shock you mentioned and recommended Expert Mrs Janet,I thought I'm the only trading with her

@jimenaaitana6578 Год назад

YOU DON'T NEED TO BE SHOCK BECAUSE I'M ALSO A HUGE BENEFICIARY OF expert MRS JANET

@itsmekarishma_____128 Год назад

Thank you so much for providing us with the list of books. It would be really helpful for me to start my investing journey.

@gmo709 Год назад

If asked to recommend an investing book to someone, I would probably recommend that Bogle book, Common Sense Investing and then several books by Ken Fisher. Maybe Debunkery and the Only Three Questions that Count. Fisher is tops for me as far as getting the big picture, debunking myths and learning to question things we have been taught. Fisher is a unique dude and extremely intelligent He leans to probabilities and does not go with the crowd. I really enjoy his books. I did like Peter Lynch books too and I am curremtly reading a Greenblat book ab the magic formula.

@JD-wx3pk Год назад

Another thing to take into account is ones own disposition regarding how willing are you to make sacrifices in order to accumulate, grow and retain wealth. Obviously there's many ways to gain wealth. But it definitely takes time and perseverance. Rich dad poor dad is a good book. Lessons like, " don't let the world push you around." M3.. multiple sources of income is something to remember. Passive income.. But you have to realize that you have to live your life as well, otherwise you'll be so rich, all you have is money. So try find a balance in life. Wealth, financial success is just a certain percentage of wealth. There are many aspects to health and wealth that sometimes aren't divulged in books.

@shimondoodkin Год назад

About being a practitioner. You can read about the basic techniques. And doing the basics will put you on the road to success. But practicing the good things is what makes you successful. Making new mistakes each time again and again won't bring you closer to success. So you're practicing and waiting for your chance while exercising probability

@Anduardus Год назад

Reading before sleeping is a great habit can't recommend it enough it improves sleep and personal growth and you retain more information right before sleeping

@theinvestingadvocate Год назад

Great video, really enjoyed it. My favorite strategy is simply dollar cost averaging into solid index funds. Keep it simple and don’t try to get fancy or impatient 🔥

@mazenalsakkaf Год назад

"Investing is an art, not a science but you can tilt the brush in your favor by stopping yourself from interfering too much and taking your emotions out of it." Well said, Toby

@kushmishra5028 Год назад

well , Somewhere I read Investing is nor a art and neither a science but the skill which can be develop over time.

@Akash-iu6ik Год назад

@@kushmishra5028 if anyone can do anything skillfully for a very long time then it becomes an art

@abdulsaeed5540 Год назад

I'm new to your channel but noticed that your audience are well versed with finance and investment. I've read most of these books and somehow shaped my investment outlook. However, my starting point of reading self-help books were from these authors, Napoleon Hill, Brian Tracy, Toni Robbins, Jim Rohn, Robert Kiyosaki and Dr Carol S Dweck(The Mindset). My top reads are: Eat That Frog by Brian Tracy Mindset by Dr Carol S Dweck Think and Grow Rich by Napoleon Hill. I deliberately chose those books because business is a mind game and if you acquire the right mindset, you'll be unstoppable action-oriented entrepreneur, not a dreamer or setting endless unrealised goals.

@0xbitbybit Год назад

Great video, really useful, definitely added a few books to my must-read list, thanks!

@evilzzzability Год назад

There is no secret. There are a million equally (and a few not so equal) ways to approach investing. There are no magic bullets though, which unfortunately is what most people are looking for. You will still need the bedrocks of patience, discipline, consistency and risk management.

@virgnthermostat5928 Год назад

In my life experience, I've learned one thing that can absolutely make you successful. "It's not who you know, it's how you know them."

@Shashi.K78 Год назад

Hi Toby, Thanks for the video. I had “Rich dad Poor dad” for several years in my bookshelf and I never read it because I was scared of investing and always found something not comfortable. One day , I decided to read the book and gave myself ample amount of time and zero expectations. After reading the book for one time, I did again for the second time. Well, I’m also not rich as of today, but the knowledge and wisdom from the books gave me confidence on taking risks. Guess what in 2 years I purchased 2 single family homes. I have purchased a townhome in Aurora, IL and remodeled it and sold it after an year for a 20% Profit during the peak of COVID. I totally agree with you and I Thank you for putting this video on how powerful will it be if we read at least a book every month, I mean some good books and experience the EXPERIENCES of the author and apply to our life in a positive way.

@TobyNewbatt Год назад

Love this comment thank you Shashi! And congrats on your journey too :)

@Shashi.K78 Год назад

@@TobyNewbatt Thank you Toby!

@NatapixAS Год назад

that book was what changed it all for me

@phasedout6769 Год назад

The psychology of money is as much about mindset as investing. Great book.

@LifeOdysseyMotivation 11 месяцев назад

Thank Tobby for recommending to us these books. I have just started reading The Psychology of Money. The beginning is already a bang! I am excited to continue reading tonight.

@nadinebellot8927 Год назад

I really appreciate this video… this was my same approach when I first became interested in investing, study study study and consume the information from the experts. I’ve only gotten through a few books over the years but years of videos and lesson and one degree in Business later I still have questions. I love your down to earth and honest approach. Thank you for this and I’d love to know what you think of Ray Dalios book, it’s on my list!

@jonathanedward5062 Год назад

I read most of them and found most of them wishy washy as you mention. I read Rich Dad Poor Dad when I was 18. It was good then, but now it would be very basic. The Psychology of Money and Basic Economics are the ones I still like though.

@boratsagdiyev522 Год назад

I've learned reading won't make u rich. Start a business or learn real estate and read on the side.

@mosalami2 Год назад

I have read these three. All great choices

@saneng4058 Год назад

Great video, I have read most of those books and agree w/your assessments and conclusions. Thank you! San

@bookpodcast999 Год назад

Thank you for providing insightful book reviews. Your channel has helped me discover new books to read.

@Caiogasp Год назад

Love some of the books you shown, but my favorites are Guy Spier “The Education of a Value Investor” and of course “Richer, Wiser, Happier”. These 2 were in your list but you didn’t mention them. Also, 2 recommendations: The Dhando Investir by Mohnish Pabrai and all 3 books from Phil Town. These are definitely in my top 10! Nice one.

@TobyNewbatt Год назад

That’s Caio! Yes I have richer wiser happier too it’s a great book I need to follow up this video is there is a lot to say 😃

@gkoretz1 Год назад

I was about to recommend the 3 books by Phil Town as well! But then I ran a search on the page and found your comment. I totally agree with you, and also Phil and Danielle's podcast is great. And I love Guy Spier's book.

@simonkemp1030 Год назад

Has anyone invested in the Guy Spier fund Aquamarine fund ?

@mitchhills1244 Год назад

A key point to add is you can’t save your way to wealth (and even if you did, you’ll be 60+). You have to increase your income

@grt764 Год назад

True. Luck plays a part as well.

@pingupenguin2474 Год назад

Maybe not to be stinking rich. But I would be comfortably off now at 65, if I had known in my 20's what I know now about investing.

@Neonb88 Год назад

@@pingupenguin2474 Never too late to start, mate

@Dan847 Год назад

If you invest 20% of your income for your entire working life you will be quite well off by the end of it. It's simple the market only goes.up.over time. Doesn't matter what you invest in as long as it's diversified

@mitchhills1244 Год назад

@@Dan847 20% is fantastic in general but if your income is too small it will be very slow. 20% of $100K is a lot more than 20% of $60K. Make good financial habits then increase income 👌

@ESM77 Год назад

I think the absolute best advice in my own experience: the best lessons come from your own post analysis from your own trades/ investments to see how you do well and don’t do well, there are millions of ways to make money in the markets, you have to find your own. Think in probabilities, not just in gains, always respect risk FIRST. And stop listening to tv, news, hype. Always rely on yourself. Don’t make stupid decisions.

@markymarcprod 9 месяцев назад

'The Simple Path To Wealth' was all I needed

@bluegtturbo Год назад

Sound advice. I would add that one of the best ways to get rich is to run a RU-vid channel, build up a good subscriber base, and monetize it through advertising 😁. I listened to many of the books on RU-vid for free before going to sleep at night.

@TobyNewbatt Год назад

Cheers buddy! Yes if you can build up a massive audience on any platform that has massive value as attention is one of the most valuable things you can have in this day and age.

@kirkclements4893 Год назад

the basics are only 2 things - learn how to do valuations on the securities you are interested in and learn to take advantage of markets by purchasing after prices fall at least 30% - rinse and repeat - as for macro economics, well, if inflation has peaked and is falling and and GDP growth is falling at the same time then the markets will give you a buying opportunity in 6 to 9 months

@antonellafurchi142 Год назад

thank you so much for your drive and hard work !! Not only reading all of this books but also making this video. It would be great if you could do something similar with books about negotiation.

@TobyNewbatt Год назад

Great suggestion thanks!

@aleksandardukic8880 Год назад

I’ve read some of the books here too!! Great video, great choice of books thanks for sharing

@curtis24-7 Год назад

A book I never see reviewed but I thoughly enjoyed was "How to get Rich" by Felix Dennis. He's passed away now but was one of the UK's wealthiest publishers. worth around £800m. It's a bit no nonsense and doesn't sugar coat it but also an enjoyable read. Worth checking out if you're looking for something different.

@jdmregal Год назад

I understand what you mean about "Think and Grow Rich," but I think it took several readings for me. Basically, for me, it was the mindset that you look at the world in terms of opportunities, and seeing opportunities where others don't. Thanks for the video.

@1simplemonk Год назад

Thanks for the excellent video! Besides the various instruments, there are also many different ways (value, trend following, contrarian - just to name a few) to make money. It really helps to find a style that matches one's personality. One Up on Wall St and the Intelligent Investor are great. I have also enjoyed Reminiscences of a Stock Operator, Market Wizard, New Mkt Wizards and More Money than God. Some of the books you have listed on the psychology/principles in life/investing are very helpful.

@MusicMotivator Год назад

LOve Morgan Housel's book The Psychology of Money, as it's such a fresh take on finance. Great vid! Subbed.

@carlaporozynski5408 Год назад

I enjoy a good book on finance, every now and then. You mentioned several of the books that I have read in your video and some that I have never seen. The last two memorable finance books that I read were the Psychology of Money by Morgan Housel and Infinity Investing by Toby Mathis.

@petermorris3665 Год назад

Thanks Toby and don't forget VUAG which is Vanguards S&P500 accumulation ETF. I'm a big investor in FCIT. It has beaten VWRL over 1,3,5 and 10 years! It's a FTSE 100 company that has been around since 1868! I started investing in FCIT in the early 1990's at 60 pence per share and today it hit £9.88 per share - Happy Days! Its also domiciled in the UK, unlike Vanguard funds that are mostly domiciled in Ireland. Just saying...... Keep up the good work!

@TobyNewbatt Год назад

I will check it out

@petermorris3665 Год назад

@@TobyNewbatt Comment was meant to be on the Non-Vanguard ETF video but, somehow, ended up here! Probably due to me having too much Friday night wine!

@TobyNewbatt Год назад

@@petermorris3665 Haha all good Peter! I didn't even clock it :P

@365DaysofSilver Год назад

The price of money - Rob Dix. Another great uk book 📖

@AlbionArg Год назад

Thank you! Would love you hear more about your thoughts on the other books!

@cfamick Год назад

The Stewardship of Wealth by Gregory Curtis, a wealth manager for the Mellon family who started his own firm, is a must read.

@TobyNewbatt Год назад

Thanks buddy!

@annap8328 Год назад

Also The Simple Path to Wealth is one of the best books

@elainewilliams3025 Год назад

For me, I read RDPD. From that point on, my whole outlook changed. What I am stuck with, is the correct "vehicle". Some marvellous books there and I will be purchasing a few of those. Thanks.

@Whatsthis1do Год назад

The Psychology of Money is on my list now. thank you

@NiklasAndersson7 Год назад

You have a bunch of excellent reads there. Congrats to your work. My advise to beginners that is pretty close to bullet proof when it comes to long term investing is: 1. Work hard on increasing your savings ratio (invested / money earned). 2. Invest it in two or three index-funds. The core one in the currency you have your expenses. 3. Repeat. End of story. "The Little Book on Common Sense Investing" is the book I recommend. I've read 100+ books on investing. Many of those you listed.

@Aziz__0 Год назад

I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45.

@Smashburn06 Год назад

Thank you for sharing! I’m going to read psychology of money next now

@stevehoffmann2688 11 месяцев назад

Great video, thanks for the suggestions! 👍

@ytsys Год назад

Good video. My main issue is everyone talks about becoming Warren Buffet. And so far after all these years there is still only one Warren Buffet

@curtisfarley9919 Год назад

Sir. How is it that you don't have two classics on your list? "The Total Money Makeover" (by Dave Ramsey)--A very simple read and with almost a 99% probability to make you a millionaire in less than 10 years, IF people would simply follow the process. The second is an oldy, The Richest Man in Babylon by George S. Clason. A very common sense read, but "common sense" is so very rare these days. Finally, I 100% agree with your assertion that most kids are sent out of High School and College without basic knowledge of personal finance, which is why I forced my children to take a Personal Finance course in High School.

@robbie609 Год назад

Hey Toby, I work in distressed debt and this is my list of books I've read on finance and investing generally. I'd recommend for general reading and understanding of investing. - listed in no particular order. Top pick in many ways is: Security Analysis But below all have something to contribute to the understanding of the investing environment to understanding risk The Education of a Speculator The Origin of Financial Crises: Central Banks, Credit Bubbles and the Efficient Market Fallacy The Basic Laws of Human Stupidity The Black Swan: The Impact of the Highly Improbable The Impact of the Highly Improbable Antifragile: Things that Gain from Disorder Things That Gain Panic: The Story of Modern Financial Insanity See No Evil: Uncovering the Truth Behind the Financial Crisis The Money Illusion Renditeperlen aus dem Scherbenhaufen: Bankhybridkapital in der Finanzkrise Greed and Corporate Failure: The Lessons from Recent Disasters Crisis Economics: A Crash Course in the Future of Finance The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession Planet Ponzi bond and bond derivatives Hoodwinked: An Economic Hit Man Reveals Why the World Financial Markets Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud How We Know What isn't So: Fallibility of Human Reason in FIASCO: Blood In the Water on Wall Street The Ascent of Money: A Financial History of the World Corporate Turnaround (Penguin Business) The Art of Statistics: Learning from Data Crossing Continents: A History of Standard Chartered Bank A History of Standard Chartered China Cuckoo: How I lost a fortune and found a life in China Mr. China After the Welfare State (China Cuckoo: How lost a fortune and found a life in China The Great Tax Robbery: How Britain Became a Tax Haven for Fat Cats House of Cards: How Wall Street's Gamblers Broke Capitalism The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron Street Fighters The (Mis)Behaviour of Markets: A Fractal View of Risk Guide to Personal Bankruptcy and Company Insolvency, An Economic and Social History of Britain, 1760-1970 The Shock Doctrine: The Rise of Disaster Capitalism Exorbitant Privilege: The Rise and Fall of the Dollar Extraordinary Popular Delusions and the Madness of Crowds

@TobyNewbatt Год назад

Thank you!!!!

@geotyr3868 Год назад

yes, from the UK, love your videos please do more videos and talk about more books! thank you :)

@franciscomsosa Год назад

Great video! Your approach is personable and kept me engaged the whole video. I like that you did a high level over-view but personally I think it would've been cool to have maybe one example from each book (e.g. a few terms, formulas, or quantitative ideas you learned from The Intelligent Investor). Nonetheless, I got a lot of value out of the video! There's so many books and it's a little intimidating and overwhelming to navigate and pick reads. Thank you for sharing your experience!

@TobyNewbatt Год назад

Thanks! definitely hard to get lots in for so many books, I've made another one covering just 5 :)

@batemanlife Год назад

Only read Psychology of Money so I've ordered Money : A User's Guide now. These books are always good motivation to keep saving/investing as like you say, temptation to spend is always there in the shadows!

@TobyNewbatt Год назад

100% worth it :)

@007NowOnline Год назад

Im currently reading "Just Keep Buying". I heard of some of the others and will probably read one of these picks next.

@annap8328 Год назад

Great book that got me started on my financial freedom path was The Index Card.

@gonnahavemesomefun Год назад

An absolute stonker of a video. Essentially you've brought me up that curve, although I'll be careful which side I am on, and which curve!!

@TobyNewbatt Год назад

Grateful mate thanks so much for watching and the support! 👍🙌

@TheCompoundingInvestor Год назад

Great video Toby, really enjoyed that. I’ll be ordering a couple of those books for sure. One I did read and found quite interesting was “Fooled by Randomness” by Nicholas Taleb. All the best mate.

@TobyNewbatt Год назад

Yes need to grab a copy of that one, I imagine lots of similar stuff from the Black Swan. Thanks as always bud!

@Neonb88 Год назад

I don't know that it would help you get wealthy, but definitely helps to aggressively question your own assumptions every once in a while

@conconmervin Год назад

Good stuff! Keep it up. You had my subscription.

@phoenixknight8837 Год назад

Thank you for the recommendations.

@cryptocuzzins9214 Год назад

Books you read the more you'll find out that they are all basically in common with one another. To be short like everybody says some or all of the stories. It's all about how you perceive yourself how you think how you dream how you act. There's millions of investment ideas out there between real estate ,businesses, stocks,crypto precious metals. It's just which one suits your mentality best and you'll find after you get good at 1 you'll move on to another cuz you get bored.

@reheyesd8666 Год назад

I remember a TV show called the chuckle brother. In the scene he goes in a library and sees a book on how to make a million pounds, he opened it and he read it saying "write a book on how to make a million pounds" Taking it literally or metaphorically, it's still tells you everything you need to know about reading books.

@dinkds26 Год назад

Very good review. As you said there is no magic formula as such but there are some evergreen principles for financial success. I found "The richest man in Babylon, The most important thing illuminated and Mastering market cycles" to be wonderful reads

@fordkd1 Год назад

Investing is also about what your goal is. I've been learning technical investing and removing your emotions plays a big part in what you can earn. The most experienced investors wait to make their money off the novice investors.

@iain3245 Год назад

Many thanks Toby, this is a great overview of a lot of books, several of which I will now be reading. I really liked Peter Lynch's book for the practical and simple advice it contained. The only book not on your list I would recommend from my reading is Free Capital by Guy Thomas. This is another UK book (published in 2011) and with 12 case studies of investors highlights the very different backgrounds and styles adopted by private investors to quite significant effect.

@KeynoteKnowledge Год назад

Rich dad poor dad and millionaire next door are the two books that got me interested in Finance. Growing up l had no one to tell me how to invest and these two books stimulate my mind to think of ideas on how to be financially wealth. I also started a whiteboard animation channel to educate people about finance, productivity under 15 min less to save time reading these books

@lykong8 Год назад

My favourite two finance books as well

@danielnation9123 Год назад

Never underestimate the value of think and grow rich! It is the foundation for all modern day self development book.

@info781 Год назад

"Grow rich with peace of mind" is another of my favorites by Hill.

@hernstv Год назад

That book from the background "Just Keep Buying" is a good one.

@tabbethadobbins1 Год назад

Great video! On Think and Grow Rich-- you missed a key point about forming partnerships to solve problems (hence being of value to earn). That’s key learning for young people just entering the workplace.

@ianbernardoful Год назад

I think “Think and Grow Rich” went right over your head. The core message. What the author was really trying to pass on to the readers. Respectfully, I disagree with your assessment on that specific book. But really cool video though, haven’t watched one like this before. You got my like my friend.

@Neonb88 Год назад

What was the core message? If I remember correctly, a lot of it was about imagination and positive thinking like Toby said