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.
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.