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

Ай бұрын

Is it worth it though?

@dimitrijeapic2875

Ай бұрын

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

@dimitrijeapic2875

Ай бұрын

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

@dimitrijeapic2875

27 күн бұрын

​@@audicoopofc its very good book

@grindtoil

25 күн бұрын

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

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

21 күн бұрын

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

3 күн бұрын

@@MariettaDiane So true.

@JalenBooekr

21 сағат бұрын

I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?

@GeralynWinnifeld

21 сағат бұрын

I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.

@GeralynWinnifeld

21 сағат бұрын

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

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

@hanselteixeira8597

Жыл бұрын

Didn't understand

@reheyesd8666

Жыл бұрын

Easy to say when you have unlimited money.

@ShaanNotShawn

Жыл бұрын

​@@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

Жыл бұрын

@@ShaanNotShawn ok now I got the concept thanks shaan

@HostileGingerATL

Жыл бұрын

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

What will make you rich? Write books telling people how to get rich

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

28 күн бұрын

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

borlest - forbidden money books (thank me later)

@Mrfunny663vnb83

Ай бұрын

Scammer

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

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

Жыл бұрын

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

Жыл бұрын

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

@EddieP2001

Жыл бұрын

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

Жыл бұрын

"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

Жыл бұрын

@@Klaus80804 😭😭🤣🤣

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

Жыл бұрын

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

@Sharpshooter649

Жыл бұрын

the best defense is a good offense

@davidglad

Жыл бұрын

@@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

Жыл бұрын

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

@Rujee8

Жыл бұрын

@@Sharpshooter649 the best offense is great defense

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

10 ай бұрын

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

10 ай бұрын

@@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

10 ай бұрын

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

@LifeOdysseyMotivation

10 ай бұрын

@@achillescappaert4771 Thanks.

@jane_doe_vp

10 ай бұрын

Can you share what you have been reading? :)

“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

11 ай бұрын

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

11 ай бұрын

land bc

@DuroSVK

11 ай бұрын

@@finniebear6744 perhaps thats why you poor then 😅

@ikllnp

11 ай бұрын

Im rich

@DuroSVK

11 ай бұрын

@@ikllnp hi Rich

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.!!

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

Жыл бұрын

The best and simple 5 steps to financial freedom and nirvana

@IgorGruendl

Жыл бұрын

😊

@user-fv6ke8vv2z

Жыл бұрын

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

@anikatasnimsaba

Жыл бұрын

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

Жыл бұрын

@@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...

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.

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

Жыл бұрын

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

@meibing4912

Жыл бұрын

Wow - that attracted the scammers as flies to sugar!

@rn3302

Жыл бұрын

So whats a good book ?

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

Жыл бұрын

Cam you give some investing tips please?

@jollama

4 ай бұрын

@@rajannaik5Stay poor

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

Жыл бұрын

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

Жыл бұрын

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

@thapelonelsonntlhabo5998

Жыл бұрын

Spot on. Becoming rich is a mindset thing.

@thapelonelsonntlhabo5998

Жыл бұрын

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

@vantage789

Жыл бұрын

So 'The Secret' basically.

"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

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

10 ай бұрын

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

10 ай бұрын

@@umaiswaqar8075 Toby said that book is wishy washy

@dalethedippa5822

8 ай бұрын

​@@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

7 ай бұрын

It is the best book of all times

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

Жыл бұрын

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

Жыл бұрын

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

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

Жыл бұрын

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

Жыл бұрын

*MARSHERYZ* 👆🏾

@Britneydams6547

Жыл бұрын

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

@Mishak0245

Жыл бұрын

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

Жыл бұрын

So true

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..

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.

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

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

Жыл бұрын

Love the book

@jayangli

Жыл бұрын

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

Жыл бұрын

My fav book❤

@mosalami2

Жыл бұрын

Yes the Richest Man in Babylon is a great book

@balemohamad6135

Жыл бұрын

Best book ever ❤

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

@chrismartin5870

Жыл бұрын

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

@robertoc4271

Жыл бұрын

I'm calling a collab!

@blabla7752

Жыл бұрын

@@robertoc4271 please! Both great KZreadrs

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!

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

2 ай бұрын

Lawyer and a DJ? You play with the law?

@Hxs28

2 ай бұрын

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

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!

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

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

Жыл бұрын

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

Жыл бұрын

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

Жыл бұрын

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

Жыл бұрын

@@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

Жыл бұрын

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

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.

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

Жыл бұрын

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

@mosalami2

Жыл бұрын

I have read these three. All great choices

'The Simple Path To Wealth' was all I needed

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

Жыл бұрын

True. Luck plays a part as well.

@pingupenguin2474

Жыл бұрын

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

Жыл бұрын

@@pingupenguin2474 Never too late to start, mate

@Dan847

Жыл бұрын

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

Жыл бұрын

@@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 👌

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

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

Жыл бұрын

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

@gesine08

Жыл бұрын

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

@LucasLiam118

Жыл бұрын

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

Жыл бұрын

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

@jimenaaitana6578

Жыл бұрын

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

"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

Жыл бұрын

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

@Akash-iu6ik

Жыл бұрын

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

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

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

Жыл бұрын

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

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

Жыл бұрын

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

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.

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

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

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.

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

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

Жыл бұрын

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

@Shashi.K78

Жыл бұрын

@@TobyNewbatt Thank you Toby!

@NatapixAS

Жыл бұрын

that book was what changed it all for me

my guess is write and sell books about investing to get rich!

@TobyNewbatt

Жыл бұрын

I’ll call my book how to get rich (the easy way) in book stores near you 😂

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."

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 🔥

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.

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.

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

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

Why to read lot of books just understand how money works

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.

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.

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

Жыл бұрын

Thank you so much for the support!!

This is a great video! I've been thinking hard and going back and forth about what personal finance book to get my nieces and nephews as a gift for their 18th birthdays (along with a decently-sized check to put to use what they learn). I'm in the US and I've got 2 years to figure it out. Any tips on that front? One book I didn't see here but I personally enjoyed quite a bit was "Your Money or Your Life" (2nd edition, from 2018) by Vicki Robin and Joe Dominguez. That one is in the running for my choice as a gift, along with The Simple Path to Wealth by JL Collins. Both great books. I've heard great things about the Psychology of Money, though, and your brief review just bumped it up my to-read list. I've also had my eye on I Will Teach You to be Rich by Ramit Sethi, which I don't think I saw in your pile, either.

@ceec5741

Жыл бұрын

A book that changed my financial life was "Total Money Makeover" by Dave Ramsey. Truly! Even better though, he gives away his money management concepts for free on his website. He provides simple, practical, concrete steps that anyone can follow.

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

@TobyNewbatt

Жыл бұрын

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.

I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.

@PhilipDunk

5 ай бұрын

I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000

@PhilipDunk

5 ай бұрын

Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

@jollama

4 ай бұрын

Both of you act like you’ve never heard of index funds and index ETFs

You don’t need 40 books on investing. You just need to read a dozen, find some mentors, and take action!

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

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

@TobyNewbatt

Жыл бұрын

Thanks buddy!

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!

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.

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

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

Жыл бұрын

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

Жыл бұрын

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

Жыл бұрын

Has anyone invested in the Guy Spier fund Aquamarine fund ?

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

Жыл бұрын

Thank you!!!!

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.

thanx a lot for the list. I want to ask, do u recommend Basic economics : a common sense guide to the economy

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

Жыл бұрын

Great suggestion thanks!

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.

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

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

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.

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

Жыл бұрын

I will check it out

@petermorris3665

Жыл бұрын

@@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

Жыл бұрын

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

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.

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

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.

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

Жыл бұрын

100% worth it :)

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

Жыл бұрын

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

@Neonb88

Жыл бұрын

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

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

The simple path to wealth and Quit like a Millionaire are my faves

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

@info781

Жыл бұрын

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

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

Great video, would love to see your 'top 10' investing books, especially books that are of practical help to an aspiring private investor.

Everyone's a genius in a Bull Market 💪 Like that one.

After 25 years and countless ups and downs , I reckon I would have been better off with 3 or 4 ETFs eg S&P 500 mainly, an All World exUS developed market ETF , possibly a bond ETF, a Dividend ETF...One or two bad stock picks will demoralise you and reduce your returns down to the mean in any case (if you are lucky!). This approach is very boring but very safe IMO

@toom2141

Жыл бұрын

yes. investing is actually super boring.

@pingupenguin2474

Жыл бұрын

Have a read at Andrew Craig's " How to Own the World" You ars on the right track. His book showed me that it wasnt too late to change track, and how to do so.

@Jjsssssss

Жыл бұрын

I have never met anyone in my personal life who has beat the index over 20+ years. All these people are wasting their time, and their money, to do worse than if they had just bought the most basic ETFs and then never thought about it again.

@putonghua73

Жыл бұрын

​​​@@toom2141 Investing done well. Like many things in life from playing Go, wine, art, etc, investing requires mostly sitting on one's hands and patience. Forget getting rich, or other such nonsense because high probability it isn't going to happen. It's about generating long-term wealth. One of the salient points that Charlie Munger made in his famous speech to USC business school 1994 (I think those details are broadly correct) is to make better decisions and not to massively f up in a way that will detrimentally affect your life for many, many years. In other words, make fewer mistakes and those mistakes that you do make, should be small. Choosing the wrong partner, or wrong career (thinking short-term over long-term), and the most pernicious debt (especially credit card debt on liabilities i.e. bling) are some of the most common ways that people frequently f up that prove to be very, very expensive over the course of their lives.

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

Жыл бұрын

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

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

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.

I've also noticed that most of the investing and money subject books and even KZread videos are US based. Telling us how to deal with money as if we all live in the US. Most of the practical advices just don't apply in my country(apart from investing in stocks) because laws and financial instruments are set differently or in some cases are just not there. Finding similar knowledge based on my country is not so easy most of the time.

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.

I think, investing ur personal money and making/losing money gives u the best knowledge

Hey, What are the best books you read for understanding financial statements? thanks!

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

Жыл бұрын

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

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.

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

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