Best Books for Teenagers to invest for retirement

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What are the best books for teenagers to invest for retirement? I wish someone would have handed me books on how to invest when I was younger. Instead, I learned about money from my parents. I learned that going into debt was fine as long as you can refinance your home every few years to pay off the credit card debt. I learned to live paycheck to paycheck.

I learned that even though I made a lot more money than they ever did it didn’t matter. I was still not investing in my future. When I did invest I just parked it in a mutual fund with high fees that didn’t perform well. I didn’t know anything about money. Boy did it show. I had a negative $105,000 in net worth.

Now that I turned all of that around in my own life I taught my son how to manage money. I then taught his friends that would listen.

In addition to all of that, my wife and I direct a summer camp for high schoolers for a week once a year and I like to have a workshop about money for juniors and seniors so they can do better than me. In 2022, I used the book “First to a Million” by Dan Sheeks which I highly recommend introducing high schoolers to all financial concepts. So if you only want to get one book get that one.

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These ideas are based on my personal experience and opinion and should not be considered professional financial investment advice. Furthermore, the ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Investing for teenagers and young adults

In this article, I have curated a list of books that will help high school-aged children and young adults get ahead in life financially.

You see there is a lot of advice out there and some of these books will give you the same tried and true advice on how to make wealth over a period of 40+ years. Some of these books show you how to accelerate that process to as short as 10 years if you work hard and change your mindset.

I personally almost changed my finances by over $800,000 in less than 10 years, without doing more than paying off debt, avoiding bad debt and investing in my 401k, and being my own bank. But most importantly I did just one thing to change the amount of money I made over time and anyone can do it.

If you combine knowledge from these books with action and learn new skills consistently you can retire much much earlier than anyone. Or you can be financially secure enough to go live your life as you want and not be trapped in the walls of a cubicle or even worse the open office concepts.

Benefits of Investing Young

The best part of investing when you are young is that you have the advantage of time. Over time the money you invest will compound annually (some years better than others) but over time that money adds up.

I talk at length about setting up custodial accounts for your children and other options in my article here about how to set up your children or grandchildren for success before they turn 18.

In addition to helping them to understand the power of compound interest and potentially setting them up for life, they will also understand the power of saving money.

I would suggest that once they get a job you get them a bank account and direct deposit a portion of their check into a savings account. I wouldn’t get my teenager a debit or credit card.

If you want to build their credit score then add them to a credit card when they get a little older. We added my son to our Home Depot credit card so that he could run to the store for us and pick up supplies during one of our home renovation projects.

What we didn’t understand was that at the age of 16 he would inherit 7 years of my wife’s credit. She had that card for seven years and our son instantly had a 730 credit score! So if you have good credit you can add them to an existing card and they can inherit some of your good credit.

Best books for teenagers to invest for retirement

“The Teenage Investor” by Timothy Olsen: This book is specifically designed for teenagers and covers the basics of investing and personal finance. It provides practical advice on how to save, invest, and manage money, as well as tips for building wealth and achieving financial independence.

“First to a Million” by Dan Sheeks: This book is the Bible in my opinion for teaching your high schooler everything they need to know about investing and F.I.R.E. (Financially Independent Retired Early) principles. He even gives them over 50 ideas on how to start bringing in money as a minor and being able to be retired by the age of 30 if they work the system.

“Retire Young, Retire Rich” by Robert Kiyosaki. This book is great for young adults but should be read as early as possible in your life. It covers the ways to invest your money at a young age and change your mindset to be financially independent early. It is a book about leveraging other people’s money.

Rich Dad Poor Dad by Robert Kiyosaki: This book is a personal finance classic that teaches readers about the importance of financial literacy and how to build wealth through investing. It provides practical advice on how to manage money, invest in real estate, and start a business.

“Your Complete Guide to a Successful & Secure Retirement” by Les Abromovitz and the Editors of Money Magazine: This comprehensive guide covers all aspects of retirement planning, including saving, investing, and budgeting. It provides practical advice and tools for creating a retirement plan that meets your needs and goals.

“The Bogleheads’ Guide to Investing” by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf: This book is based on the investment philosophy of John Bogle, the founder of Vanguard. It provides a simple and straightforward approach to investing, including how to build a low-cost diversified portfolio.

“The Millionaire Next Door” by Thomas J. Stanley and William D. Danko: This book examines the characteristics of self-made millionaires and provides insights into how they built their wealth. It provides practical advice on how to develop good financial habits and make smart investment decisions.

“The Simple Path to Wealth” by JL Collins: This book provides a straightforward approach to investing and building wealth. It covers the basics of investing, including how to build a diversified portfolio and the importance of saving and compounding.

5 steps to Prosperity

5 Steps to Prosperity

Learn the fasted way out of debt and into wealth with this free infographic giving you the first 5 steps out of poverty and into prosperity.

“The Money Book for the Young, Fabulous & Broke” by Suze Orman: This book is aimed at young adults and covers a wide range of financial topics, including saving, investing, and budgeting. It provides practical advice on how to build a solid financial foundation and achieve financial independence.

“The Smartest Investment Book You’ll Ever Read” by Daniel R. Solin: This book covers the basics of investing and provides practical advice on how to build a diversified portfolio. It includes information on how to choose the right investments, minimize risk, and maximize returns.

“The Intelligent Investor” by Benjamin Graham: This classic book is a must-read for anyone interested in investing. It covers the basics of value investing and provides practical advice on how to build a diversified portfolio.

Join my free Facebook group to get a ton of free resources to help you get out of debt, learn how to invest your money, and work toward having the option of retiring early.

Starting to invest early will lead to a life of freedom

Hopefully, you picked up or found a book that can help you or your teenage/young adult family or friend. There are a lot of good resources out there, so start with one or two and follow the advice that seems to resonate with you.

Wow, you read a lot to get here. Can you do me a favor, please? Can you leave a comment if this was helpful to you or if I missed something? Alternatively, it would help me out a lot if you shared this content with those that might need to see it. Thanks, you are the best!

About Dwight Scull

I have been married to my wonderful wife, Rebecca, who puts up with me since 1999. I am a proud father to my Gen Z, son, and daughter-in-law. Grandfather to my favorite granddaughter who was born in 2021.

I lost my mom, father-in-law, and 12 others in 2013 and was DEEPLY in debt. I started reading and watching all the financial info I could find.

I chipped away at my debt and went from a negative $105k net worth having one home paid off, no credit card debt, and saving/investing 45%+ of my gross salary.

I used these daily habits to lose 100 pounds and keep it off.

I believe that you can overcome any challenge you face if you just take small daily actions and be consistent with them. It is how you will be financially successful.

Join my free Facebook group to get a ton of free resources to help you get out of debt, learn how to invest your money and work toward having the option of retiring early.

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