Good Reading : February 2011
FEBRUARY 2011 ı goodreading 25 categorical 2 by George S Clason is another must- read general finance title. Similar to Rich Dad Poor Dad, this book also imparts its financial advice through parables, but here they are set in ancient Babylon. The stories from The Richest Man in Babylon have been around since the 1920s, originally appearing as a series of pamphlets. Each chapter features a parable and it's intended that the reader will finish each chapter having learned a different financial moral or skill. Real Estate Investing in real estate has certainly become a popular financial venture, with many considering it less risky than investing in shares. For those who have absolutely no knowledge of how to go about investing in real estate, Investing in Real Estate for Dummies, Australian Edition ($39.95, Wiley) by Bruce Brammall is a great book to start with as it's a relatively new title, based on the Australian marketplace, and it uses everyday ter ms. Another great book for learner investors is The Beginner's Guide to Real Estate Investing ($24.95, Wiley) by Gary W Eldred. Although Eldred is American, the book offers insight into the general practices of real estate investing. If you're feeling ambitious, the bestselling From 0 to 130 Properties in 3.5 Years ($32.95, Wrightbooks) by Steve McKnight is up your alley. According to the publisher, this title is Australia's bestselling real estate book so far. In the book, McKnight recounts how he bought 130 properties in only three and a half years and he uses his experiences to teach the reader about positive cashflow properties as well as providing handy tips on what and where to buy, how to protect your finances and how to save on tax. For the girls Property is a Girl's Best Friend ($32.95, Wrightbooks) by Propertywomen.com is great for female investors as it is written for women by women and focuses on the idea that real estate investments are a great way to gain financial independence. The book includes a step-by-step guide on how to invest in property, multiple investment strategies to suit your personality and ways to cut back on expensive habits that could be holding you back financially. Also great for the ladies is the general finance title Sheconomics by Karen Pine and Simonne Gnessen ($24.99, Headline). The authors take a look at the emotions behind women's spending and money habits and suggest ways to tackle unhealthy spending. They also give us gals handy tips on the importance of pensions, paying off loans, investing and general spending and savings advice. This book is a great all- rounder for women who want to know more about reaching both their everyday and ultimate financial goals. General Finance Debt Free, Cashed Up and Laughing ($19.95, ABC Books) by Cath Ar mstrong and Lea-Anne Brighton is another excellent general finance book that looks at everyday spending and ways to save. It's filled with hints and tips on saving on household items like groceries, suggestions for paying off your credit card and other loans once and for all and it shows the advantages of regular saving to prevent financial anxiety.This is a useful book for those who aren't keen on investing but just generally want to save. Bestselling author Suze Orman is a fantastic starting point for increasing your knowledge of finance. She has written many titles but arguably her best is The 9 Steps to Financial Freedom ($22.95, Three Rivers Press). As the head of her own financial- planning company, Or man certainly has valuable knowledge to offer to readers. Like Rich Dad Poor Dad, Or man's books focus on the importance of financial freedom, using her own life as an example. Even though she was wealthy, she was unhappy, and she figured out that it was because she lacked financial freedom. As the name suggests, The 9 Steps to Financial Freedom offers the reader a nine-step program for becoming financially successful and independent. Trading/Shares One Up on Wall Street ($29.95, Fireside) by Peter Lynch is a bestselling finance title that explains to average investors how to find up-and- coming companies with investment potential while avoiding the dud companies that will cause you to crash and bur n. Lynch believes success comes from not focusing on the ups and downs of the general stockmarket but on the potential of specific companies. The Warren Buffett Wa y ($19.95, Wiley) by Robert G Hagstrom is another US title that can help Australian investors. Hagstrom analyses the methods used by Warren Buffet, one of the world's most successful investors. One key difference in Buffett's strategy is that he doesn't buy a company then sell it off in bits (think of Richard Gere's character in Pretty Woman) -- he keeps the company as a whole. The ASX has also put out books to help the average trader, including Starting Out in Shares ($34.95, Wrightbooks). In this book, the ASX team explain how to exploit the sharemarket for maximum retur ns, including infor mation about when to buy shares and different successful methods for selecting stock.
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