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Recommended Personal Finance Books

Posted by admin on August 17, 2007 in Investment Products

I wanted to end the week with a compilation of books that readers have emailed me that they enjoy. The list has a little bit for everyone so feel free to explore them all. As a side-note, I attempted to determined how much money I have saved borrowing personal finance books this year rather than buying them and I estimate approximately $250-$350 savings so far. Borrow these books, save some money and learn something new! Have a great weekend:

Four Pillars named his blog after the book “Four Pillars of Investing: Lessons for Building a Winning Portfolio.” Four Pillars writes: “I think this book is one of the more logical financial books that I’ve read in that it makes exhaustive use of historical data and statistics to show that you can’t beat the market so the best strategy is to index with the lowest costs possible.  It has a great section on the psychology of investing which covers a number of historical boom and busts which he uses to show how the markets always come back in the long run and how the important thing about investing in equities is to stay invested in good times and bad.  He also talks about asset allocation and makes a very convincing argument that all investors regardless of their age should have a significant equity allocation in order to beat inflation. To sum up:  A great book!”

The Financial Blogger recently reviewed the book “Why You Want to Be Rich” by Donald Trump and Robert Kyosaki. Reader Michael recommends the same book but only the Kyosaki part (!).

Reader Judi recommends “Balancing Act- a Canadian Woman’s Financial Guide” by Joanne Thomas Yaccato” which she describes as a “simple book full of really practical stuff. Its geared towards woman but applies to everyone.”

Reader Nancy writes that you can’t beat the classic and recommends the Wealthy Barber by David Chilton. David Bach’s series of books on (Finish Rich for Couples, Finish Rich for Woman etc.) are along the similar lines as Chilton’s book and his entire series is a good starting point for anyone who is a beginner in learning about personal finance.

Last, but not least, reader Alan writes that “you have to start with the original- Think and Grow Rich” by Napoleon Hill. If you have not heard of the book, the book summarizes lessons learned by the author from Andrew Carnegie. The book was published in 1960 and many of the lessons brought to light by Hill resonate in the works of the likes of T. Harv Ecker and other authors who explore the psychology of achieving financial independence.