Best Personal Finance / Investing Books for Beginners?

Currently reading "The Millionaire Next Door"
So far, so good

Look you can read all day.

It is simple. Save. invest, save some more, invest some more etc.

Avoid debt except for income producing and/or appreciable assets.

Do not live above your means.

Dave Ramsey is right about day to day spending. It is surprising he has made so much money talking about simple, basic concepts.

Now if you want investment books that is different. It is a different thing all together. When you get your personal financial life in order start thinking about investing.

I promise you will avoid losing sleep somewhere along the lines if you keep the debt you live on to a minimum. No fancy cars. No big houses. etc until your net worth is to the point you feel comfortable.

This is a post by Lawyers_Guns_Money on the thread titled "How frugal would you say you are?"

The guy has his act together and a good plan to be financially independent. Planning smart does not mean passing the things in life you like.

quote:

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What is the definition of frugal?

I drive a 2003 Ford Explorer Sport Trac with 140k miles. I have zero debt. I'm not married and have no financial obligation outside of supporting myself.

I'm also 26 years old and make 6 figures working for the most recognizable brand in the world.

Last weekend I went to one of the top restaurants in the world (French Laundry) and spent over $900 on the check.

With that said, I save over 20% of every dollar I earn for retirement. So that leads me back to the question...what is frugal?

By the average person's standards, I am probably NOT frugal. But also by the average person's standards, I'm saving way more (as a % and overall).

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"The Only Investment Guide You'll Ever Need" by Andrew Tobis

Good post, I B Freeman.

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Look you can read all day.

It is simple.

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I'm just trying to become more knowledgeable and informed. I just finished Rich Dad, Poor Dad, and probably my biggest takeaway from that book (apart from the fact that a house is not an asset) is that my mind is my greatest asset. Since I'm in the early stages of investing (and, hell, of life in general), I want to have a strong foundation of financial knowledge from the get-go. That's why the request for books.

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A Random Walk Down Wall Street - Burton Malkiel

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Almost picked that one up today. Looked a bit more technical in the table of contents, though, so I decided to save it for later.

Tim Ferriss is a joke...nothing more

I have done:

The Richest Man in Babylon
The Ascent of Money
Stock Market Investing for Beginners
The Inteligent Investor(didn't finish it)
401k for Dummies/complete idiots
Home buying and selling for complete idiots
How to sell a house fast in a down market
Investopedia skimming
The white coat investor .com

But if you are starting off, I rec lectures before books.

Khan academy and the great courses lectures by connel fullenkamp.

I'm about to do a yale lecture from Robert Shilling.

401kaos

I highly recommend The Richest Man in Babylon. Having finished it now, it's one of the most enjoyable books I've read in a long time!