The following books have in common a number of good qualities:
- A very practical orientation, mixing a modicum of principle and theory with a lot of specific "what" and "how to" information presented attractively along with helpful tables and graphics.
- All are short and to the point.
- All are written by and for Canadian investors with Canadian examples and data.
- All the authors take an unbiased point of view from the consumer/investor's perspective, giving warnings about products that they consider to be poor value, though of course they focus mostly on the good and the positive things to do and products to consider.
- All give quite mainstream advice supported by research and facts, no wild get-rich-quick methods, no high-risk unproven schemes are to be found in these tomes.
1. What Kind of Investor Are You? by Richard Deaves, published 2006
All the basics - interest rates, risk, mutual funds, ETFs, stocks, bonds, indexes, portfolio construction, DIY vs advisor, retirement, sample portfolios, unique content is investing psychology, review by CanadianFinancialDIY
2. No Hype - The Straight Goods on Investing Your Money by Gail Bebee, published 2008
Same basics as Deaves book, its unique content is coverage of a greater range of types of investments, some basics of registered plans (RRSPs etc) and taxes published 2008, reviewed by Canadian Capitalist
3. Tax Planning for You and Your Family 2010 by KPMG
Updated every year, by a professional tax firm, gives the rules in clear, precise language understandable to the layman, with references to CRA plus tax saving tips on every topic.
4. New Rules of Retirement by Warren MacKenzie and Ken Hawkins, published 2008
How to estimate income needs, assess and manage retirement risks, create and manage an investment portfolio, successfully DIY or use an advisor, reviewed by Retirement Action
5. The New Investment Frontier III by Howard J. Atkinson and Donna Green, published 2005
More for the intermediate or higher level investor who really wants to know how ETFs work, reviewed by CanadianFinancialDIY
With the summer and holidays coming up, books are easy to toss into a bag to bring along and read wherever one happens to be and whenever there is an opportune moment. Happy reading!
Disclaimer: this post is my opinion only and should not be construed as investment advice. Readers should be aware that the above comparisons are not an investment recommendation. They rest on other sources, whose accuracy is not guaranteed and the article may not interpret such results correctly. Do your homework before making any decisions and consider consulting a professional advisor.