When it comes to your financial future, knowledge is power.
And yet, many Canadians feel out of touch when it comes to finding the right information needed to make informed decisions about their money, from financing a home to learning how to tackle debt.
A 2024 poll from Edward Jones Canada found that 84 per cent of Canadians believe financial education in school would have helped them manage finances with less stress today. And 64 per cent of respondents who did not learn how to manage their money in their younger years are now looking to upgrade their knowledge.
Tina Tehranchian, certified financial planner at Assante Capital Management, Jason Heath, managing director at Objective Financial Partners and Scott Plaskett, certified financial planner and CEO of Ironshield Financial Planning, share five of their favourite books that might just include the knowledge you need to kick-start your personal finance journey.
ARTICLE CONTINUES BELOW The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
Author, John C. Bogle
Heath is partial to the classics.
First published in 2007, “The Little Book of Common Sense Investing” from Vanguard Group’s founder takes a straightforward approach to explaining the investing world.
The book draws on wisdom from financial titans like Warren Buffett, Benjamin Graham and Paul Samuelson to describe the most straightforward and effective investment strategies for building wealth over the long term.
“It talks a lot about the merit of index funds, how difficult it is to beat the markets,” says Heath, and is good for anyone “looking for a different take on investing.”
Smoke and Mirrors: Financial Myths That Will Ruin Your Retirement Dreams
Author, David Trahair
Heath first picked up this book in the nineties, at the beginning of his career.
“It’s about how to get through the noise of what the financial industry wants you to buy.”
Heath says you likely won’t find Smoke and Mirrors on a bestsellers list, but Trahair’s book opened his eyes early in his career.
“Like most people, I expected that the financial industry was there to help consumers and look out for their best interests, but that’s often not the case.” [part of this quote was incomplete]
ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Money: A Story of Humanity
Author, David McWilliams
In this book, Tehranchian says McWilliams masterfully blends economics, history and human psychology to tell the story of money, not as a cold financial instrument but as a human invention shaped by trust, belief and social norms.
“It challenges you to see money not just as a ledger of numbers, but as a cultural force that reflects who we are and how we live,” says Tehranchian. “Understanding this deeper story equips readers to make more thoughtful, values-driven financial decisions.”
Tehranchian also points out that the book is beginner-friendly, as McWilliams gives simple explanations about complex topics.
One of Tehranchian’s favourite quotes from “Money: A Story of Humanity” is about how cryptocurrency’s volatility renders it ideal for speculation: ” … Who would ever punt on a boring, stable asset? But this is the very same property that renders it dysfunctional as a means of payment and therefore as money.”
Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your ProsperityAuthor, Garrett Gunderson
Plaskett says if you’re looking for a book that challenges (“Kills”) most of the common financial advice (“Sacred Cows”) like budgeting or deferring gratification, Gunderson’s book should be next on your reading list.
He points out that “Killing Sacred Cows” helps the reader avoid the most common financial institutions’ ‘traps,’ which primarily benefit the financial institutions more than the client.
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The core theme of the book, Plaskett adds, is that there is no “one-size-fits-all” type of advice, and it helps people avoid getting caught in the web of “one-size-fits-all” [add dashes] advice that is promoted and encouraged by the financial industry.
“This advice is mainly based on fear and scarcity rather than abundance and personal empowerment.”
The Obstacle is the Way: The Ancient Art of Turning Adversity to AdvantageAuthor, Ryan Holiday
Plaskett explains that his second recommendation is a great followup to “Killing Sacred Cows.”
“Because once you commit to building financial freedom by aligning your approach to money with your purpose, you end up challenging the masses and bumping up against obstacles.”
“The Obstacle Is The Way” draws on stoic philosophy to help you overcome challenges and achieve personal growth and success, explains Plaskett.
“It is a great book that places the power directly on the shoulders of the reader.”
A notable quote from the book, Plaskett adds, is: “You will come across obstacles in life — fair and unfair. And you will discover, time and time again, that what matters most is not what these obstacles are, but how you see them, how you react to them, and whether you keep your composure.”
