April is the official National Financial Literacy Month; as it comes to a close, Finance Monthly has heard from Tamir Davies, content writer and researcher for Savoy Stewart, on the top 10 finance based books to look out for this year, a little about each and which reader they are best suited to.
Tackling the subject of ‘finance’, no matter your aim or venture, can be a difficult feat. It is a tricky topic to get your head around, even if you consider yourself an expert, and as the saying goes ‘knowledge is power’. One traditional way of acquiring this knowledge is by reading. You may be a solicitor, accountant, commercial property investor or CFO, but the ultimate aim is the same – to better yourself in the financial world and to make a return on investment.
1. High Returns from Low Risk: A remarkable Stock Market Paradox by Pim Van Vliet
Traditionally, investors used to view low-risk stocks as safe but unprofitable. And of course profitability is the most important aspect of financial investment. However, this is now a flawed theory. This book, explores how low-risk stocks are actually proving to be far more beneficial, and can outperform high-risk stocks. If you used to believe, the higher the risk, the greater the reward – this old axiom is holding you back.
Who’s it for: If you have money and want to know where to put it, with maximum return. Suitable for investors, those in private equity and property investment.
2. The Alchemy of Finance by George Soros
This book by George Soros, reveals his secrets as to how he became one of the world’s most successful money managers of all time. Soros has been nicknamed by Business Week as the ‘man who moves markets’. The book is a fantastic read for those looking to understand the theoretical and practical account of the financial market. The book illustrates real-world advice and valuable lessons that can be learnt in business.
Who’s it for: Savvy business owners looking for financial inspiration to reach the highest heights.
3. How to Save Property Tax 2016/17 by Carl Bayley
If you are a property investor and or landlord, then understanding how to save property tax for the new tax year is a key aspect of investment. This book really is a tax bible and this latest edition has been updated with all the major tax changes which were announced in 2015. It has a detailed analysis of the new rules which are to restrict tax relief on residential landlords’ interest costs, as well as investigating the new 3% stamp duty land tax surcharge. The book explores ways investors and landlords can save on tax, and therefore pay less income tax, capital gains tax and stamp duty.
Who’s it for: All property landlords and investors, second home owners, those looking to refurbish or develop a property, and solicitors, accountants and professional financial advisors.
4. Buy Low Rent High: How anyone can be financially free in the next 12 months by investing in property by Samuel Leeds
They say an investment in property will guarantee you a return. But to invest in property, many would assume you need a bundle of cash. In theory yes – but this book ‘Buy low rent high’, looks into challenging the traditional approach to investing in property, and to start with no money at all. Samuel Leeds, the author of the book has earnt himself a reputation for becoming one of the most inspiring and engaging investors in the UK, due to his tactic.
Who’s it for: A great read for amateur investors and landlords.
5. The Virgin Banker by Jayne-Anne Ghadia
Women CEO’s, have fast become one of the most popular topics in business. ‘The Virgin Banker’, by Jayne-Anne Gadhia, who is the CEO of Virgin Money, exposes the events and circumstances that shaped her career as we know it today. In her career, Jayne-Anne Ghadia has become one of the most powerful women in banking and her anecdotes include beating bullies as a child and overcoming racism having had a mixed race marriage. Her career triumphs include, working at RBS and finally putting Virgin Money on the road to success by becoming a listed business. Her book explores issues regarding women in the workplace, specifically banking, and drawing on personal experiences which has helped her secure her current position in finance.
Who’s it for: Women of all career fields – this is not a conventional biography, so if you’re a woman in business, looking to succeed, this could be your driving force.
6. How to Talk Finance: Getting to grips with the numbers in business by Ted Wainman
Getting into business is a tricky affair, especially if you’re unsure where or how to start. Ted Wainman’s book ‘How to talk finance: getting to grips with the numbers in business’, is a great way of beginning your journey into business, dissecting how a business is run, funded, structurally designed to trade and the costs involved. The book is user-friendly and will help you understand the numbers behind a business, as well as budgeting and developing a commercial awareness for the business you are launching.
Who’s it for: Business men and women looking to launch their own business. No matter the business field or type.
7. The Long and the Short of It: A guide to finance and investment for normally intelligent people who aren’t in the industry by John Kay
John Kay, is one of the world’s leading economists and a hugely triumphant investor. His academic credentials and an unparalleled level of practical experience, places him as one of the world’s inspiring investors. If you’re after a book about finance and investment, ‘The Long and the Short of it: A guide to finance and investment for normally intelligent people who aren’t in the industry’ will speak wonders for you. The book assesses the complexities of the financial world, emphasising how the modern system is threatened by the stability of the world economy. The book has been designed to explain how to put your finances into your own hands, as these are the only ones to trust.
Who’s it for: Cautious investors and those in professional finance services who need some guidance to keep their money safe.
8. The Investors’ Guide to the United Kingdom 2017 by Jonathan Reuvid
This edition by Mazars, exposes useful information for investors in the UK, looking to secure property in 2017. This book is an extensive round-up of the property industry since Brexit, indicating the climate for investment in Britain. The book also goes into great detail regarding the laws, business regulations and practices that are affecting foreign investors looking to put their money into commercial property. This edition also includes topics such as commercial law, intellectual property, business taxation, financial reporting and key industry sector opportunities.
Who’s it for: Any foreign business of any size. If your business is multinational or an SME, this guide will help you with technical aspects of investment.
9. The Little Book of Commonsense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C Bogle
Investment is known as the most effective way of building wealth quickly and sustaining it. But the most difficult part is doing it correctly. John C Bogle, the founder of the Vanguard Group and the inventor of the world’s first index fund, has created this book that details the simplest ways of investing – with low-cost index funds. The book is filled with in-depth advice, knowledge and practical sentiments to show you how to incorporate this investment strategy, which Bogle deems the most effective of its kind into your portfolio.
Who’s it for: Commercial and independent investors looking to expand their portfolio in the most effective way.
10. Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Tim Ferriss
We all dream of becoming a self-made millionaire or even better – a billionaire. And ‘Tools of Titans’ by Tim Ferriss, looks at the daily routines and ritual habits of celebrities, hedge fund managers, professional athletes and others to understand how they became the wealthiest and most successful in their field. Ferriss interviewed more than 200 world-class performers, such as Jamie Foxx and Arnold Schwarzenegger, splitting his book into three chapters – healthy, wealthy and wise. Ferris’s book is a quest to unveil snippets of wisdom from these high achievers and to pass their tactics of success onto anyone interested.
Who’s it for: This a charismatic read, suitable for anyone who loves real-life advice and an interpretation of success. If you need a career push, this one’s a keeper.