How to Grow a Wealth Mindset

by Dominique Schuh

For those who are interested in building your knowledge level around wealth, this week's post is for you! Here at Schuh Group, we encourage you to become as educated as possible in the field of investing and money management. Some of this can be achieved through talking to those who are "in the know" while some information is best delivered by books and publications.

This week we'll be sharing our recommendations on which books will help you grow your wealth mindset and give you the best value for your time.

1. The Barefoot Investor, by Scott Pape

This book is a great place to start. It outlines a number of "money fundamentals" that may seem basic at first but are incredibly important habits to put in place. It's no accident that people who accumulate significant amounts over time generally spend less than what they earn, and invest the surplus in solid investments.

2. The Little Book of Common Sense Investing, by John C. Bogle

For a no-nonsense overview of the pros and cons of the sharemarket, this book has stood the test of time. It outlines why investing for the long term in a broad mix of assets and at a low cost is undoubtedly the best approach to take.

3. The Investment Answer, by Daniel C. Goldie and Gordon S. Murray

If you only read one book on investing in the share market, make it this one! The Investment Answer dispels the long-held myths about investment "out performance" and gives the reader statistical historical evidence on why a broad asset class investment mix is the best way to go.

4. Think and Grow Rich, by Napoleon Hill

When it comes to cultivating a wealth mindset, there are few better books than this tried and tested publication by Napoleon Hill. Think and Grow Rich gives you a guide on how to visualize increasing your wealth, and then how to methodically go about achieving that.

If you'd like to discuss any of these books in more detail, please contact our office. Happy reading from the Schuh group Team.