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Message
Recommend me a book that lays out the basics of personal finance
Posted on 2/11/16 at 1:53 pm
Posted on 2/11/16 at 1:53 pm
I'm looking for something that lays out the basics of finances for a family from investing to retirement and everything in between. I know a little bit but it's safe to assume I know nothing for this thread. I certainly don't have an advanced background in finances but I am a quick learner with most things.
Just a little bit of background info:
- I'm married with no children
- 25 years old with minimal savings and no investments at this point
- Just started my "career" in September, was living paycheck to paycheck for 6 years before this
- I"m certainly not a baller, but am easily saving $1,000 a month at this point
Just a little bit of background info:
- I'm married with no children
- 25 years old with minimal savings and no investments at this point
- Just started my "career" in September, was living paycheck to paycheck for 6 years before this
- I"m certainly not a baller, but am easily saving $1,000 a month at this point
7
Posted on 2/11/16 at 2:09 pm to tlsu15
Rich dad poor dad
Posted on 2/11/16 at 2:12 pm to tlsu15
Millionaire Next Door.
Posted on 2/11/16 at 2:14 pm to poochie
quote:
Rich dad poor dad
This lays out the basics of not being a scrub with your finance, not how to actually start implementing personal finance.
It also is outdated and gives some bad advice if taken at face value by today's standards
Posted on 2/11/16 at 2:21 pm to GenesChin
So no to Rich Dad Poor Dad. Can you recommend a better option for the modern world?
Posted on 2/11/16 at 2:27 pm to tlsu15
Posted on 2/11/16 at 2:42 pm to Clint Torres
This seems interesting and definitely like a worthwhile read, but is it broken down enough to be accesible and useful for a beginner?
Posted on 2/11/16 at 4:21 pm to tlsu15
Posted on 2/11/16 at 4:40 pm to tlsu15
I've got two:
Bachelor Pad Economics
Don't let the title fool ya. It's not just for single guys. Good stuff, and more importantly there's a lot of good advice for life that'll keep ya from screwing up the financial stuff.
and
Money: Master the Game by Tony Robbins
It has a lot of condensed financial advice of various types.
Bachelor Pad Economics
Don't let the title fool ya. It's not just for single guys. Good stuff, and more importantly there's a lot of good advice for life that'll keep ya from screwing up the financial stuff.
and
Money: Master the Game by Tony Robbins
It has a lot of condensed financial advice of various types.
Posted on 2/11/16 at 5:08 pm to tlsu15
quote:
Millionaire Next Door.
I have to second this. I read several financial books when my parents cut the financial cord following graduation. This one, in my opinion, is the best book at giving you the nuts and bolts of building wealth. It illustrates how wealthy individuals have built wealth through diligent spending and investing decisions throughout all stages of life (buying a house/car, raising kids, saving, investing for retirement, etc...). It is sound financial wisdom regardless of your income or age.
Posted on 2/11/16 at 5:19 pm to lynxcat
quote:
Go read the sticky at the top of the page.
Actually solid advice. I'd looked here a long time ago and haven't checked back in a while.
Posted on 2/11/16 at 7:09 pm to tlsu15
The first book on personal finance that I ever read was The Truth About Money by Ric Edelman, as recommended by a CPA I know. I think it does a great job of introducing you to the various long term considerations you might have, the various options available to you (e.g. what is a muni bond, what is a mutual fund, etc), how do different mixes of investment classes perform historically, and so on.
Since that time, I've tried to listen to Edelman's radio show via podcast, but I can't stand his radio style. Good book, though.
Since that time, I've tried to listen to Edelman's radio show via podcast, but I can't stand his radio style. Good book, though.
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