3 Beach-Side Reads to Boost Your Money Skills Before Summer Ends

In this week’s edition:

• The Criteria

• The 3 Books

• If you loved those 3, you’ll also love…

I’m not ready to bid Summer farewell.

Especially that it took forever to get started in Switzerland this year.

But, we still have a few weeks before Fall officially begins.
So, if you’re trying to squeeze in a few more Sunny relaxing day and looking for a few books to relax with, this is the edition for you.

The Criteria:

This newsletter is about leveling up our Money Skills. Naturally, the books I’m suggesting here do just that.

But, if I’m laying by a pool somewhere, I don’t want to be reading an overly technical book that’ll exhaust me.

So, I chose these books based on these criteria:

1. Are not technical

2. Are entertaining reads

3. Have helped shape how I approach Finances (and beyond) 

4. You can finish them before summer is over (by reading 20-30 mins per day)

NB: These books are beginner friendly but by no means simple. You can reread them multiple times and still get something new out of them each time.

The Books:

#1 The Psychology of Money by Morgan Housel

This book isn't about complex financial models or investment strategies; it's about the human side of money. Housel blends together stories and insights to show how our emotions, biases, and upbringing shape our financial decisions. 

It's a captivating read that will make you rethink your relationship with money, helping you make smarter choices for the long run.

#2 Thinking Fast & Slow by Daniel Kahneman

Ever wondered why you sometimes make impulsive decisions or fall prey to cognitive biases? This book takes you on a fascinating journey through the two systems of thinking that drive our minds.
It's a thought-provoking exploration of human psychology that will change the way you see the world – and your own decision-making, especially when it comes to money.

#3 Ego is the Enemy by Ryan Holiday

Holiday draws on the philosophy of Stoicism and modern examples to show how ego – the need for validation, the fear of failure – can sabotage our progress.
By learning to manage our egos, we can cultivate the humility, discipline, and resilience needed to build lasting wealth and achieve our financial goals

NB: If you’re really interested in Stoicism, I would recommend the ancient Classics instead.

But, 1 of the criteria is being able to finish the book before Summer ends.
The classics are best read slowly over time as opposed to in one go.

If you loved those 3, you’ll also love:

Fooled By Randomness and The Black Swan by Nassim Taleb

I might be biased since the author is originally from a village in North Lebanon next to mine. But, Nassim Talebs’ works are as influential as it gets so I think this bias is ok…

Fooled by Randomness challenges our understanding of success and failure, highlighting the often-overlooked role of luck and randomness in our lives. It encourages a healthy dose of skepticism and a focus on robust strategies that can withstand unpredictable events.

The Black Swan explores the impact of highly improbable, high-impact events – the “Black Swans” – that can disrupt our lives and the world around us. It’s a call for preparedness and adaptability in the face of the unknown.

The Stoic Classics:

Meditations by Marcus Aurelius: This is the personal journal of “The last of the 5 Good Roman emperors” Marcus Aurelius. It was never meant for publishing. This unedited, accidental classic offers insights into Stoic philosophy, its practical applications for living a virtuous and fulfilling life and the emotions of the most powerful man on Earth at the time.

Letters from a Stoic by Seneca: In these letters, the Roman philosopher Seneca shares his wisdom on a wide range of topics, from overcoming adversity to finding happiness in simple things. His insights into human nature and the pursuit of a meaningful life remain as relevant today as they were centuries ago.

I hope you enjoy these books as much as I did! They've not only shaped my approach to finances but also influenced how I navigate life's challenges and pursue my dreams.

Any other books you’d recommend ? Let me know!

Happy reading, and here's to a productive and relaxing end to your summer!

The information contained in this newsletter is for general informational purposes only. It should not be construed as financial or investment advice. Please consult a qualified financial advisor before making any investment decisions.