Top 25 Timeless Personal Finance Books to Read Now

At MoneySense, we believe that knowledge is the key to financial success. With our 25th anniversary in mind, we’ve gathered insights from Canada’s top personal finance experts and influencers to curate a list of essential reads. Whether you’re new to personal finance or looking to deepen your understanding, these timeless books will add value to your bookshelf—and potentially boost your net worth.

Invest for Success with Low-Cost ETFs and Index Funds

1. The Little Book of Common Sense Investing by John C. Bogle (Revised Edition, Wiley, 2017)

   • Why You Should Read It: John Bogle’s masterpiece is a must-read for anyone interested in investing. It teaches how to capture market returns at a low cost, debunking the myth that high fees lead to better performance. Perfect for understanding why keeping fees low is crucial for long-term growth.
   • Expert Endorsement: Dan Bortolotti, a portfolio manager at PWL Capital, highlights this book for its wisdom on the impact of investment fees.
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2. Reboot Your Portfolio: 9 Steps to Successful Investing with ETFs by Dan Bortolotti (Milner, 2021)

   • Why You Should Read It: Bortolotti’s guide offers practical advice on portfolio construction and managing emotional biases in investing. It’s a clear, accessible book for both novices and seasoned investors.
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3. A Random Walk Down Wall Street: The Best Investment Guide That Money Can Buy by Burton G. Malkiel (13th Edition, W.W. Norton, 2024)

   • Why You Should Read It: This classic work supports the use of low-cost ETFs by demonstrating that it’s hard to beat the market with actively managed funds. Malkiel’s logic is compelling for anyone interested in efficient investing.

Get Started in the Stock Market—or Hone Your Skills

4. The Warren Buffett Way by Robert G. Hagstrom (30th Anniversary Edition, Wiley, 2024)

   • Why You Should Read It: Discover the investment strategies of Warren Buffett, one of the most successful investors of all time. Hagstrom’s book blends biography with practical investment advice.

5. The Intelligent Investor by Benjamin Graham (4th Revised Edition, HarperCollins, 1973)

   • Why You Should Read It: Known as the bible of value investing, this book offers timeless wisdom on risk and return. Graham’s principles have shaped many successful investors, including Warren Buffett.
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6. Beating the Street by Peter Lynch (Simon and Schuster, 1993)

   • Why You Should Read It: Lynch’s book makes stock investing accessible with practical advice and real-world examples. It’s an inspiring read for anyone looking to dive into the stock market.

Master the Basics of Personal Finance—at Any Age

7. Seventeen to Millionaire by Douglas Price (Self-Published, 2022)

   • Why You Should Read It: Price’s book offers straightforward advice on managing money from a young age. It’s a great resource for building a solid financial foundation early in life.

8. I Will Teach You to Be Rich by Ramit Sethi (Revised Edition, Workman Publishing Company, 2019)

   • Why You Should Read It: Sethi’s practical approach helps readers understand personal finance systems and develop effective financial habits. It’s ideal for anyone looking to simplify their financial life.
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9. How Not To Move Back in With Your Parents by Rob Carrick (Doubleday Canada, 2012)

   • Why You Should Read It: Carrick’s book is a guide to financial independence for young adults. It covers essential money management skills to avoid financial pitfalls.
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10. The Wealthy Barber: The Common Sense Guide to Successful Financial Planning by David Chilton (Stoddart, 1989)

    • Why You Should Read It: Chilton’s relatable storytelling makes complex financial concepts easy to understand. A classic that remains relevant for financial planning.
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11. The Only Investment Guide You’ll Ever Need by Andrew Tobias (Revised Edition, Harper Business, 2022)

    • Why You Should Read It: Tobias’s book is full of practical advice and entertaining insights. It’s a must-read for anyone looking to make informed investment decisions.

12. Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success by Preet Banerjee (Penguin Canada, 2014)

    • Why You Should Read It: Banerjee’s straightforward rules simplify money management. This book is great for those seeking clear, actionable financial advice.

Find the Courage to Chase Your Dreams

13. I Could Do Anything If I Only Knew What It Was by Barbara Sher (Dell, 1995)
    • Why You Should Read It: Sher’s book helps you identify and pursue your passions. It’s a powerful read for anyone looking to align their career with their true interests.
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Explore the Psychology of Spending and Saving

14. Die with Zero: Getting All You Can from Your Money and Your Life by Bill Perkins (Reprint Edition, Mariner Books, 2021)

    • Why You Should Read It: Perkins challenges conventional saving strategies and encourages readers to spend wisely to enjoy life to the fullest. It’s a thought-provoking read on balancing savings with living.
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15. Happy Money: The Science of Happier Spending by Elizabeth Dunn and Dr. Michael Norton (Reprint Edition, Simon & Schuster, 2014)

    • Why You Should Read It: This book explores how spending money can lead to greater happiness. It provides insights into making financial decisions that enhance well-being.

16. Worry-Free Money: The Guilt-Free Approach to Managing Your Money and Your Life by Shannon Lee Simmons (HarperCollins, 2017)

    • Why You Should Read It: Simmons’s approach simplifies budgeting and financial planning, making money management less stressful and more effective.

17. Crazy About Money: How Emotions Confuse Our Money Choices and What To Do About It by Maggie Baker, Ph.D. (Holistic Wealth Press, 2011)

    • Why You Should Read It: Baker’s book dives into the emotional aspects of money management, offering strategies to overcome emotional spending and improve financial decisions.

18. The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel (Harriman House, 2020)

    • Why You Should Read It: Housel explores the behavioural side of finance, using engaging stories to explain how our mindset affects financial success.

19. Why Smart People Make Big Money Mistakes . . . and How to Correct Them by Gary Belsky and Thomas Gilovich (Simon & Schuster, 2009)

    • Why You Should Read It: This book addresses common cognitive biases that impact financial decisions, helping readers make smarter choices.

Achieve FIRE: Financial Independence, Retire Early

20. Your Money or Your Life by Vicki Robin and Joe Dominguez (Revised Edition, Penguin Books, 2008)

    • Why You Should Read It: This seminal book on the FIRE movement teaches how to achieve financial independence through mindful spending and saving.

21. The Simple Path to Wealth by JL Collins (CreateSpace Independent Publishing Platform, 2016)

    • Why You Should Read It: Collins provides a straightforward guide to investing in index funds, making it a crucial resource for anyone pursuing financial independence.

22. The Woke Salaryman Crash Course on Capitalism & Money: Lessons from the World’s Most Expensive City by He Ruiming and Goh Wei Choon (Wiley, 2024)

    • Why You Should Read It: This graphic novel offers a unique perspective on capitalism and personal finance from Singapore, blending humour with practical advice.

23. Rule of 30: A Better Way to Save for Retirement by Frederick Vettese (ECW Press, 2021)

    • Why You Should Read It: Vettese’s Rule of 30 offers a fresh approach to balancing saving and spending, aiming for a more achievable retirement plan.

Read What Your Advisor is Reading

24. Wealth Planning Strategies for Canadians 2024 by Christine Van Cauwenberghe (Carswell Thomson Reuters, 2023)

    • Why You Should Read It: A comprehensive guide to Canadian financial planning, this book is essential for understanding the nuances of financial strategy in Canada.

25. The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb (Random House, 2007)

    • Why You Should Read It: Taleb’s exploration of risk and uncertainty provides valuable insights for managing investments and personal finance in unpredictable times.

These timeless personal finance books cover a range of topics from investing strategies and basic financial education to psychological insights and achieving financial independence. Whether you’re just starting your financial journey or seeking advanced strategies, this list has something for everyone.