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I think a list of books that FWF members have found to be helpful in understanding issues of personal finance...

Andrew Tobias: the only investment guide you'l ever need

although it is NOT "the only investment guide you'll ever need", it definately is a good read on many financial basics and has some good nuggets for all...

add to the list!
Edit by Moderator: Thank you for your participation. Please note that there is also discussion about this topic Here.

Also see http://www.fatwallet.com/forums/arcmessageview.cfm?catid=52&threadid=160418

Millionaire Next Door by Stanley
Rich Dad Poor Dad by Kiyosaki
Total Money Makeover by Ramsey (don't slam me - it helped me in the beginning and still keeps me motivated)

Random Walk Down Wallstreet

I read it back in my college days... should read it again

The Intelligent Investor: The Classic Bestseller on Value Investing
by Benjamin Graham.

found this list at "it's your money blog":

The Money Book of Personal Finance
Author(s): Richard Eisenberg

The Total Money Makeover: A Proven Plan for Financial Fitness
Author(s): Dave Ramsey

How to Get Out of Debt, Stay Out of Debt, and Live Prosperously
Author(s): Jerrold Mundis

Your Money or Your Life
Author(s): Joe Dominguez & Vicki Robin

The Millionaire Next Door: The Surprising Secrets of America's Wealthy
Author(s): Thomas Stanley & William Danko

Rich Dad, Poor Dad
Author(s): Robert Kiyosaki (with Sharon Lechter)

Why Smart People Make Big Money Mistakes & How to Correct Them
Author(s): Gary Belsky & Thomas Gilovich

The Courage to Be Rich
Author(s): Suze Orman

The Millionaire Mind
Author(s): Thomas J. Stanley, Ph.D.

Think and Grow Rich

The Overspent American: Why We Want What We Don't Need
Author(s): Juliet B. Schor

Credit Card Nation: The Consequences of America's Addiction to Credit

Life Strategies: Doing What Works, Doing What Matters

The Fragile Middle Class: Americans in Debt

The Overworked American: The Unexpected Decline of Leisure

Organizing from the Inside Out

anyone read these?


I am surprised to see Rich Dad, Poor Dad mentioned, which I thought was one of the worst books I've ever read, both in terms of writing style and content. I felt like an infomercial for the Wal-Mart crowd to me, and not something FWF members would get much out of. What did you get out of it that I missed?

I highly recommend The Four Pillars of Investing . Also, some of the Dummies books on Personal Finance and Investing are surprisingly good to get the basics covered.

Ramsey I don't like because of his unreasonable rejection of anything that has to do with credit cards (and his weird obsession of preaching bible lines on his show).

More info on Rich Dad's author (in a negative light): http://www.johntreed.com/Kiyosaki.html

I second random walk - my only vote for "must read".


thinvalet said: [Q]More info on Rich Dad's author (in a negative light): http://www.johntreed.com/Kiyosaki.html
My hubby and I have friends who are "Rich Dad" devotees - I cringe when they talk about how they're going to improve their lives based on something in Kiyosaki's book. After skimming the web-site you linked, now I know why I've been cringing! I hope my friends never join Quixstar. :<img src="i/expressions/face-icon-small-disgusted.gif" border=0>

manuel said: [Q]I second random walk - my only vote for "must read".

I third that. Of the books that I have read so far, I would say Random Walk Down Wall Street is the best overall investing primer/guidance book. Four Pillars of Investing is a good book to read after Random Walk if you want more depth. I am currently reading The Informed Investor by Frank Armstrong, which is actually pretty good as well so far.

If anyone's interested, here are my personal reviews on Random Walk Down Wall Street and Four Pillars of Investing.

(Oh, and here are my thoughts on Rich Dad, Poor Dad too.)

--
jonathan@mymoneyblog.com

Your Money Or Your Life is not your typical investment/personal finance book. It offers a different perspective on life/work/money. Although I didn't agree with all the advice, it made me look at work and money differently.
It asks you to figure how much you actually make an hour. It makes you take into account commuting time/cost, destressing time/cost,cost of clothing and other necessities for work. This gives you an actual $/hour earnings. It then asks you to chart your spending and at the end of every month ask yourself was this item worth this much of my life(the amount of time worked to pay for the item). You don't do the charting forever, but it makes you look at spending differently. They have a website here, but I haven't really spent time there to see if it is worthwhile.

There is also an old thread with additional recommendations here

I would dissent a bit from the praise for Random Walk. It makes some good points, but underplays the very important element of group psychology in determining market trends.

Ironically, its author started his own actively managed mutual fund. <img src="i/expressions/face-icon-small-smile.gif" border=0>


Millionaire Next Door is a great read, probably the best of the recent bestsellers. The sequal _Millionaire Mind_ is quite good also.

On the other hand Malkiel pulls the covers off two largely ignored elements of investing - expenses and trading costs. Two vastly underrated elements of total return.

BTW, he's always made it clear that he owns individual stocks - everybody's allowed one gambling habit.

Know he's on the vanguard board and the board of at least one hedge fund - do you know what fund he manages? Thanks.

Extraordinary popular delusions and the madness of crowds, by Charles MacKay.

DaveHanson said: [Q]Ironically, its author started his own actively managed mutual fund. <img src="i/expressions/face-icon-small-smile.gif" border=0>
That's not ironic, actually. The point of Random Walk was that the active funds charged too much in fees, and hence can't beat the market index after fees are considered. I'm not at all surprised he started his own fund (nice fees for him)... I'd just be surprised if his readers chose to invest in it.

7 Money Mantras (Author was recently on PBS' Moneywise)
Dave Ramsey Books
Saving Money
Richest Man in Babylon
Your Money or Your Life (www.simpleliving.net)
Straight Talk on Investing: What You Need to Know
Wealth of Experience: Real Investors on What Works and What Doesn'
4 Pillars of Investing
Richest Man in Babylon
Millionaire Next Door
Millionaire Mind
Idiots Guide to being a Cheapskate
Random Walk Down Wall Street
Motley Fool Books
The tightwad Gazzette
The Intelligent Asset Allocator
Holy Bible

Other books semi-related to finance.....
(lefty slant)
Affluenza (http://www.pbs.org/kcts/affluenza/ --> They have a video they show on the VERY extreme leftist Link channel on DirectTV)
Credit Card Nation (www.creditcardnation.com)
Fat Land: How America Got Fat
(more conservative slant)
The Burden of Bad Ideas
Death of Common Sense : How Law is Suffocating America

www.addall.com <---Book search engine
Oh yeah, I recommend using your local library!

i'd say read in this order.
1. kiyosaki - rich dad poor dad (why? its completely false, but it will "shock" you into thinking abt money)
2. general finance books i.e. wealthy barber/millionaire mind
3. start getting more specific.... i.e. random walk/common sense on mutual funds, etc etc.

hope this helps just my 2 cents

scorched03 said: [Q]
2. general finance books i.e. wealthy barber/millionaire mind


Wealthy Barber? Sounds Good!

anyone?

ArcaneXor said: [Q]I am surprised to see Rich Dad, Poor Dad mentioned, which I thought was one of the worst books I've ever read, both in terms of writing style and content. I felt like an infomercial for the Wal-Mart crowd to me.

Well put. Now, this Random Walk book...anyone care to post the ISBN? Or a link to Amazon or something? I say that because I was looking at half.com and there seems to be a few different kinds and whether they change the name of the book when they update it or they are different books isn't clear.
Thanks,
clegg

wealthy barber is very general. i think richest man in babylon and barber are about the same when i skimmed it.

from BN's tobias description:
"Tips on every aspect of personal finance, including:
* Hoe to save 18-50% by spending smart"

bad typo..

clegg said: [Q]ArcaneXor said: [Q]I am surprised to see Rich Dad, Poor Dad mentioned, which I thought was one of the worst books I've ever read, both in terms of writing style and content. I felt like an infomercial for the Wal-Mart crowd to me.

Well put. Now, this Random Walk book...anyone care to post the ISBN? Or a link to Amazon or something? I say that because I was looking at half.com and there seems to be a few different kinds and whether they change the name of the book when they update it or they are different books isn't clear.
Thanks,
clegg

random walk 8 th edition here is random walk. but its 8th edition. i think there's a ninth edition but my internet is jacked up and i can't access Amazon right now

scorched03 said: [Q]clegg said: [Q]ArcaneXor said: [Q]I am surprised to see Rich Dad, Poor Dad mentioned, which I thought was one of the worst books I've ever read, both in terms of writing style and content. I felt like an infomercial for the Wal-Mart crowd to me.

Well put. Now, this Random Walk book...anyone care to post the ISBN? Or a link to Amazon or something? I say that because I was looking at half.com and there seems to be a few different kinds and whether they change the name of the book when they update it or they are different books isn't clear.
Thanks,
clegg

random walk 8 th edition here is random walk. but its 8th edition. i think there's a ninth edition but my internet is jacked up and i can't access Amazon right now

Thanks for the link, its not your internet. I can't access any item page within books on Amazon either. It is why I asked for an ISBN <img src="i/expressions/face-icon-small-smile.gif" border=0>
I'll wait and try tomorrow, maybe the server is being updated or something.
Thanks,
clegg

ISBN: 0393325350 for random walk 8th edition.

use addall.com to find a cheapo place to buy it.

scorched03 said: [Q]ISBN: 0393325350 for random walk 8th edition.

use addall.com to find a cheapo place to buy it.

Thanks, nice site. Bought it for 13.xx
Lots of reccomendations here, lets see how it is. I like my books to be somewhat math based..not just motivational BS.

-clegg

Wealth Without Risk/Financial Self Defense by Charles Givens

Lots of good information for beginners...taxes, insurance, motivation. although a lot of the info (especially investing) is out of date.

Throwing another vote in for A Random Walk Down Wall Street. Every investor should read that book, if for no other reason than the historical perspective it gives you on American stock markets. It's fun to read about the manias and fads of the past and compare them to today.

I recently read that "Take on The Street" by Arthur Levitt should be in a list like this.

I think the book was published recently, a few years ago. Any opinions on it, I wasn't sure when I read the recommendation if it was PR hype or not?

noless said: [Q]Your Money Or Your Life is not your typical investment/personal finance book. It offers a different perspective on life/work/money.

Your Money or Your Life is my favorite "finance" book. The difference between it and other books is that is doesn't provide any strategies to make more money...it makes you think about the money you are already earning and how much you really need to spend. I read it close to three years ago and it was a great groundwork for thinking about what I wanted to accomplish with my life as a whole and how not having to work day in and out and a corporate environment was a possibility.

Arkad said: [Q]Wealth Without Risk/Financial Self Defense by Charles Givens
Wow, that name is a blast from the past. Be careful following Givens too closely. He got himself in a boat-load of trouble including criminal convictions and lost lawsuits.

May Givens R.I.P. and may anybody curious about the fellow and his advice read up on him before following his advice. You can start here: Givens warning page url.

Terry Savage - a Chicago financial columnist, author and TV news financial reporter is one of my favorites for good, no-nonsense, financial information. Her "The Savage Truth On Money" is excellent and her upcoming "The Savage Number: How Much Do You Need To Retire?" looks promising as well.

Not really a finance book but a negotiation book:

Getting to Yes

Probably the only book I read in law school that actually had real world application.

Ordered One -Thank You.

longwood8 said: [Q]Not really a finance book but a negotiation book:

Getting to Yes

Probably the only book I read in law school that actually had real world application.

what about that guy jonathan pond (i think is his name) he's on pbs a lot. kinda like suze orman, but less about "life" and more about money... i thought he had a book...

miserly said: [Q]what about that guy jonathan pond (i think is his name) he's on pbs a lot. kinda like suze orman, but less about "life" and more about money... i thought he had a book...

Got that one: Your Money Matters ..., all simple strategies and tips (21 tips for achieving financial securities to be exact). Not very useful to me. JMHO.

101 (General backgrond):

1. The Only Investment Guide You'll Ever Need (Andrew Tobias)

2. Personal Finance for Dummies/Mutual Funds for Dummies (Eric Tyson)

3. Making the Most of your Money (Jane Bryant Quinn)

201 (Investing)

1. The Intelligent Asset Allocation/The Four Pillars of Investing (William Bernstein)

2. Contrarian Investment Strategies (David Dreman)

301 (Classic Investing - treatise)

1. Random Walk Down Wall Street (Burton Malkiel)

2. The Intelligent Investor (Benjamin Graham)

76hhma wrote: [Q]101 (General backgrond):

1. The Only Investment Guide You'll Ever Need (Andrew Tobias)

2. Personal Finance for Dummies/Mutual Funds for Dummies (Eric Tyson)

3. Making the Most of your Money (Jane Bryant Quinn)

201 (Investing)

1. The Intelligent Asset Allocation/The Four Pillars of Investing (William Bernstein)

2. Contrarian Investment Strategies (David Dreman)

301 (Classic Investing - treatise)

1. Random Walk Down Wall Street (Burton Malkiel)

2. The Intelligent Investor (Benjamin Graham) That's the best list I've seen.

Avoid financial books that have a pop psychology slant, are written by people who misspell their own names (it should be "Suzy") or part their hair too neatly, have titles containing words like "dad", "millionaire",
"risk" (usually accompanied by "no", "free", or "without), or "now".

Margin of Safety, by Seth Klarman, is an absolutely phenomenal book on value investing. I have read every book on the top 10 lists for value investing. This is at or near the top. Was out of print for years but now avail again. You are going to want to own it.

As long as you take it as a quick read, and nothing more, Rich Dad, Poor Dad is worth reading. There's a lot of high-horsing about it that is unmerited if you separate the book from the author's institution.

One of the better books I've read on the subject is Stephen Pollan's Die Broke. He really breaks it down to exactly why it is that we strive for money and provides the tools to set up a gameplan that fits your goals in life. Live Rich is the sequel to Die Broke where he goes into ways to get the most out of your money and life.

I've never read Your Money or Your Life, but I do recommend going to their website.

Bagofchips said: [Q]Margin of Safety, by Seth Klarman, is an absolutely phenomenal book on value investing. I have read every book on the top 10 lists for value investing. This is at or near the top. Was out of print for years but now avail again. You are going to want to own it.


doesn't seem to available anywhere
do you have link?

Skipping 31 Messages...
Thanks for the heads up on this.

Just purchased "Millionaire Women Next Door" hy Thomas J. Stanley.

qrychefan said: [Q]http://www.fatwallet.com/t/18/467946/ post on HOT DEALS(this great post is on page 3 after 2 hours-getting buried):
Check out original thread for coupons too!
BookCloseouts is having a blowout sale 90% off. They have a ton of finance books,not many of the greats-but some to keep me in the right mind set AND they do have the MOTLEY FOOL books ($1.40)




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