My Weak Spot
One thing I’ve never had much experience with (or been very good at when I did try) is investing. I intend to do my best to remedy that because one of my goals is to have significant passive income regularly. I thought about signing up for this Sharebuilder offer* via Costco and getting my feet wet that way, but I’m still at the thinking about it stage. (And I also need to read the fine print.)
Probably a trip to the library is in order first (to check out the Four Pillars of Investing) but I’m wondering if anyone has any recommendations for other investment books that do NOT focus on retirement. I want to invest for the long term, yes, but I also want to take out passive income within the next 5 years. Any suggestions?
*I have no idea if that’s a referral link or not, but if it is, it doesn’t go to me. (I accidentally lost the link to the blog I found it on. Thanks to whoever it was.)
My recommendation is Barron’s. It cost a few pennies but it covers, front to back, companies and their stocks, mutual funds, bonds, etc. If anything, this might at least give you a direction in which to head. I’m going to ask my tax guy if the subscription is tax deductible since they discuss real estate in every issue.
Two great books on the stock market are How to Make Money in Stocks by William O’Neil and One Up on Wall Street by Peter Lynch. Highly recommended.
This isn’t a book suggestion, but I’d recommend looking into medium-risk mutual funds. They tend to be safer at protecting your initial investment amount than single stocks. Talk to your financial advisor about the time horizon for your investment and they should be able to recommend something suitable for you.
Investing For Dummies by Eric Tyson
How to Buy Stocks by Louis Engel
The Intelligent Investor by Benjamin Graham
Investing For Dummies is a good overall beginners book. How to Buy Stocks covers the basics starting from describing what a stock is. The Intelligent Investor is a timeless classic that forms the foundation of value investing.