Fi­nan­cial reads for Fa­ther’s Day

In­stead of a tie or a pair of socks, why not give dad a book that will in­spire a life­time of sound money man­age­ment? A dad com­piled the fol­low­ing list.

Weekend Argus (Saturday Edition) - - FRONT PAGE -

FOR Fa­ther’s Day to­mor­row, you have prob­a­bly al­ready bought a gift for dad or hubby. But if you haven’t, you might pick up one of these books at your near­est book­store, or fail­ing that, prom­ise to down­load an e-book ver­sion onto his tablet or e-reader. Per­sonal Fi­nance has come up with a se­lec­tion of fi­nan­cial books that should prove of in­ter­est to dad. This is a 2015 South African adap­ta­tion of a very suc­cess­ful book by Aus­tralians Abey (a fi­nan­cial plan­ner) and Ford (a mar­ket­ing man). Bradley, the for­mer chief ex­ec­u­tive of Old Mu­tual Wealth and chair­man of Ac­sis, brings the lo­cal ex­per­tise to this edi­tion of the book.

The con­cept is to bridge the gap be­tween where the reader is and where he or she could be with the right fi­nan­cial plan and a long- term, eq­ui­ties- based in­vest­ment strat­egy. There is noth­ing par­tic­u­larly new about this, but the book is re­fresh­ingly com­mit­ted to link­ing fi­nan­cial goals with val­ues and out­look, mak­ing the point that there is such a thing as “enough” if you are ca­pa­ble of tak­ing plea­sure from things other than the race for riches. – Roz Wrottes­ley As a Cer­ti­fied Fi­nan­cial Plan­ner and a downto- earth guy, Mwan­di­ambira is well qual­i­fied to talk to or­di­nary South Africans about mas­ter­ing their fi­nances. From any­one else, “mas­ter­ing” might sound unattain­able, but Mwan­di­ambira keeps things prac­ti­cal and fo­cuses on the money de­ci­sions we all have to make at var­i­ous life stages, such as pre­par­ing for the fu­ture of a new baby or buy­ing a car.

He looks at the fi­nan­cial im­pact of these events and the plan­ning that we need to do to en­sure they are man­age­able. He ad­dresses the over­all fi­nan­cial goals of cre­at­ing wealth and in­vest­ing for re­tire­ment, but doesn’t ig­nore the fi­nan­cial set­backs, such as a pe­riod of un­em­ploy­ment or in­debt­ed­ness.

For in­spi­ra­tion, Mwan­di­ambira in­cludes sto­ries from his own ex­pe­ri­ence and throws in bi­b­li­cal ref­er­ences that ob­vi­ously mean a great deal to him.

This is a friendly, ac­ces­si­ble book about money for peo­ple who need ev­ery­day so­lu­tions, rather than high fi­nance and tech­ni­cal in­vest­ment ad­vice. And for those who feel they are pick­ing their way through the fi­nan­cial mine­field, the ex­pla­na­tions of fi­nan­cial terms and prod­ucts will be in­valu­able. – Roz Wrottes­ley This is a text­book to go with Unisa’s course in per­sonal fi­nan­cial man­age­ment, but don’t be put off by that. Af­ter 30 years of fi­nan­cial lit­er­acy teach­ing, Swart knows how to com­mu­ni­cate with stu­dents and where to begin: at the very be­gin­ning. He has long been a cam­paigner for per­sonal fi­nance to be part of the school cur­ricu­lum and a com­pul­sory sub­ject at uni­ver­si­ties and all higher- ed­u­ca­tion in­sti­tu­tions. This is a book you can trust to cover all as­pects of fi­nan­cial plan­ning and to be con­sulted again and again as the per­son you give it to em­barks on dif­fer­ent stages of life. – Roz Wrottes­ley Busetti’s com­pre­hen­sive book on in­vest­ing (rather than trad­ing), re­leased in 2009, has be­come some­thing of a clas­sic in South Africa for those who have a deep in­ter­est in the sub­ject.

For­mer Per­sonal Fi­nance ed­i­tor Laura du Preez wrote the fol­low­ing about the book soon af­ter its re­lease: “Be warned: while the layper­son can prob­a­bly ac­cess most of this book, it helps if you have vast pow­ers of con­cen­tra­tion, can read graphs and are ded­i­cated to learn­ing about the sub­ject mat­ter. It is def­i­nitely not a quick-and-easy read that will un­lock the se­crets to in­vest­ing in one sit­ting.”

Some chap­ters are more ac­ces­si­ble than oth­ers, with those on the fi­nan­cial mar­kets, the econ­omy, in­vest­ment risk and as­set al­lo­ca­tion re­quir­ing the most con­cen­tra­tion. The lat­ter chap­ters, on the psy­chol­ogy of in­vest­ing, in­vest­ment styles and tech­niques, and how to do it your­self, are eas­ier on the brain cells.

“All in all, a valu­able book to have if you are pre­pared to per­se­vere – one to which you can re­fer con­tin­u­ally and re­mind your­self of in­vest­ment truths and un­truths. Even if you don’t get all of it, the bits you do get will def­i­nitely be a worth­while in­vest­ment of your time,” Du Preez says. Fio­ra­monti is pro­fes­sor of po­lit­i­cal econ­omy at the Univer­sity of Pre­to­ria, where he di­rects the Cen­tre for the Study of Gov­er­nance. His book is a vi­sion – which many might re­gard as a piein-the-sky utopian one – of a world in which hu­man en­deav­our ben­e­fits so­ci­ety in all its facets – and its pur­pose is to make you think. There’s a quote by Thuli Madon­sela on the cover: “An un­ortho­dox, thought-pro­vok­ing view, which is pos­si­bly dis­rup­tive but cer­tainly worth con­sid­er­ing, on ap­proach­ing so­ci­ety’s progress in re­sponse to our trou­bled world that, above all, cries out for so­cial jus­tice.”

Fio­ra­monti chal­lenges con­ven­tional think­ing about eco­nomic growth and other taken-for-granted as­sump­tions that drive ac­tiv­ity in in­dus­trial na­tions.

Es­sen­tially, it’s about man’s longterm sur­vival. Can hu­man­ity con­tinue on its de­struc­tive course in which the world’s wealth be­comes con­cen­trated among a de­creas­ing mi­nor­ity while, at the same time, our planet is turned into a toxic waste­land? Of course not.

You may not agree with some of the so­lu­tions of­fered by the au­thor, but you have to agree that, for the sake of our chil­dren at least, change of some sort is crit­i­cal.

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