Out of left field comes a new book that can enrich the life of a young person you know -- and it may enrich your life, too! But more accurately, this book comes out of shortstop territory, because it's by New York Yankee Derek Jeter. It's called The Life You Imagine: Life Lessons for Achieving Your Dreams.
The book has already been praised for offering insights that can make people better lifetime investors -- here, check out its 10 chapter titles:
- Set your goals high
- Dealing with growing pains
- Finding role models
- The world is not always fair
- Don't be afraid to fail
- Have a strong supporting cast
- Be serious, but have fun
- Be a leader, follow the leader
- Think before you act
- Life is a daily challenge
If young people take Jeter's advice to heart, they'll likely be more successful in realizing their dreams, which can include financial independence. In investing, you have to set your goals high and need to expect some growing pains as you learn through mistakes. Role models can be invaluable, which is why many investors follow the wisdom of successful investors such as Berkshire Hathaway
In investing, you also have to be ready to fail on occasion. The business world and stock market aren't always fair. You may do everything right in your investing, but you may end up enduring a long bear market, where your holdings don't appreciate for years. Having a strong supporting cast is also valuable in investing, and it can be done via an effective investment club, where research and ideas are pooled and shared.
You can also help young people you care about by urging them to poke around our Teens & Their Money area. Do so and they may one day thank you for leading them to their portfolios full of shares of PepsiCo
If your youth is far behind you, you might be interested in the brand-new book by Fool co-founders David and Tom Gardner, Money After 40: Building Wealth for a Better Life -- check it out!
Longtime Fool contributor Selena Maranjian owns shares of Berkshire Hathaway and eBay.