Those new to investing and the stock market are looking for the best advice they can get. From books and magazines to podcasts, websites and apps, there’s no shortage of investment advice out there. There’s so much that it’s hard to know where to begin—or who to trust.
Luckily, the experts of Forbes Finance Council can help. As experienced industry professionals, they know which sources are reliable and present information that even investment rookies can act on. Below, 10 of them share their favorite sources to recommend to new investors.
1. The House of Morgan
When I was young, I tried to get my hands on every finance book I could find. By the age of 16, I poured over the pages of The Wall Street Journal every day. The House of Morgan, by Ron Chernow, also helped shape my career. It is full of rich history and information about the modern finance industry. I first read it about 20 years ago, but I continue to think about it and reference it. – Eric Solis, MovoCash, Inc.
2. Market Wizards
Market Wizards, by Jack W. Schwager, is a must-read for investors because it tells the story of the world’s greatest investment legends and covers many important lessons for traders. Trading is all about learning from experience, and it’s always better to learn from other people’s mistakes than to pay “tuition fees” to the market. – Guan Zhen Tan, Point Hope
3. Stocks for the Long Run
One book that stuck with me and that I still recommend to people is Stocks for the Long Run by Jeremy J. Siegel. He gives an unbiased, historical accounting of stock returns and volatility, along with long-term economic growth. – Bill Keen, Keen Wealth Advisors
4. Unshakeable: Your Financial Freedom Playbook
The best investment book you can read is Unshakeable: Your Financial Freedom Playbook by Tony Robbins. It gives you a comprehensive understanding of what you need to know and do to invest for long-term success rather than short-term wins. It also features actionable advice from some of the top minds in the finance world. – Joe Camberato, National Business Capital & Services
5. Understanding Stocks And Understanding Options
I would recommend both Understanding Stocks and Understanding Options by Michael Sincere. These are the most simple books about trading in the stock market I have ever read. With fun examples and metaphors, you are guaranteed to learn a ton and have a practical guide to follow when taking action. – Gabriela Berrospi, Latino Wall Street
6. Rich Dad Poor Dad
This is not surprising: I suggest reading Rich Dad Poor Dad by Robert T. Kiyosaki as a top personal finance management book. It has basic insights into investment—especially real estate investment—and helps form the proper approach and build the right mindset for making financial decisions. This book can be step one on the road to a successful investment experience. – Dmitry Dolgorukov, HES Fintech
7. The Truth About Money
I love introducing Ric Edelman’s teachings to new investors. His book, The Truth About Money, is simple and easy for anyone to understand. It’s a practical guide that lays the groundwork for understanding how to deal with your personal finances. – Justin Goodbread, Heritage Investors
8. The Dave Ramsey Show And The Total Money Makeover
I’m a long-time fan of Dave Ramsey and would highly recommend his radio show and podcast The Dave Ramsey Show, as well as his book, The Total Money Makeover. If you’re starting with little or no knowledge of personal finance and responsible investing, Dave can get you up to speed quickly. I especially like his low-risk strategies that involve hard-nosed advice like budgeting and saving slowly. – Tyler Gallagher, Regal Assets
9. Acorns; Robinhood
New apps like Acorns and Robinhood offer excellent tutorials and guides for the new investor. Beyond that, real-time advice from sources like Twitter tends to be very effective these days due to its expeditiousness and absorbable, succinct format. – Julio Gonzalez, Engineered Tax Services Inc.
10. The Motley Fool
The best advice I can give on investment is to focus on fundamentals. If you don’t understand the investment, don’t put your money in it. In that vein, an easy-to-understand source for this is The Motley Fool. Their advice doesn’t use jargon and is easily digestible for the new investor. – Aaron Spool, Eventus Advisory Group, LLC