best personal finance books of all time
Reading is one of my greatest joys. It allows me to broaden my perspectives and introduce me to new passions. In my own literary journey, I have come across several personal finance books that I personally would consider to be the best finance books of all time. You can purchase these books on ebooks.com.
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There is a reason this book has made countless lists for best personal finance books. RDPD blurs the lines of autobiography, personal finance, and psychology.
This book is many things but it is NOT a book to tactically help you invest. This book will not show you the ins and outs of investing or help you decipher between stocks and mutual funds. RDPD will help you change your perspective on personal finance and money management as a whole.
Robert peppers the book with stories from his early childhood to illustrate the principles of financial literacy and entrepreneurship. More specifically, he speaks to the differences in perspectives between his own father (poor dad), and his friend’s father and future mentor (Rich dad). If you’re new to personal finance, I highly recommend reading this book first to get your thoughts flowing on smart money management.
The total money makeover
By Dave Ramsey
I picked up this book after watching several David Ramsey videos. If you haven’t heard of him, Dave Ramsey is a personal finance guru who is hell bent on getting Americans out of debt through his famous 7 baby steps program.
I highly recommend this book if you are in significant debt. While I can appreciate Dave Ramsey’s no nonsense approach to debt management and personal finance, I do find him to be a bit stringent on his rules (eg. no credit cards, no investing until you’ve cleared all debt, etc.).
Finance is fluid and sometimes requires a change in strategy along the way. However, crippling debt has been weighing down Americans for years and his approach will certainly help you dig yourself out.
Published in 1949, The Intelligent Investor is considered to be the bible of value investing written by one of the greatest investors of all time. His book is often found on the shelves of avid investors.
However, I will warn you, this book is not a casual read. I personally found myself reading pages multiple times (something I found was common with fellow readers). Take notes, annotate, and re-read as necessary. The material is dense, but helpful.
This book does receive criticism for being “outdated”. However, there are valuable concepts in the book that are timeless
What i learned losing a million dollars
by Jim Paul and Brendan Moynihan
Often times we read personal finance books as a way to feel inspired by success. Authors Jim Paul and Brendan Moynihan accomplish the exact opposite by detailing Jim’s incredulous loss after a meteoric rise.
The book presents a cautionary tale and advises on strategies on how to avoid losses in the future. More importantly, the book provides a heavy dose of humility, detailed through the eyes of a man who once thought himself above all.
Great read especially for those interested in trading.
Not all personal finance books are about high stakes trading or retiring by 30. In Smart Couples Finish Rich, couples learn how to navigate finances together for a prosperous future. As single people, we all have our own way of managing money. However, many of us have learned that after entering into marriage, those strategies may have to change.
David starts with his own story of managing finances with his wife and the struggles they encountered. The rest of the book dives into how couples should navigate their finances through the lenses of personal values, life stages (retirement, homes, etc.), and finally, how to increase income.
I highly recommend this as one of the best personal finance books of all time for couples (in any serious stage of a relationship). Read this book and at the very least use it as a tool to start having difficult but productive conversations about finances.
Ok so this is not really a personal finance book per se. However, personal finance is more than just investing in stocks. Personal finance extends to all streams of income you manage including earned income.
While this book won’t teach out how to manage money, it will teach you how to manage people and your relationships, both of which can have a tremendous impact on future wealth. The book is an easy read focused mostly on interpersonal relationships.
Some of the examples he uses seem more like best case scenarios vs. what would actually happen, but my advice is to take this with a grain of salt and focus more on the lesson. His suggestions may also seem obvious, but if you’ve ever come across a contentious or disliked person, you’ll reason that being truly likeable and having influence, are skills to be honed.
I’ve read some criticism about this book focused mostly on the patronizing nature of his advice ( eg: begin in a friendly way, show appreciation and interest in others, avoid arguments, etc.). However, at the end of the day, would you rather be right or would you rather get what you want?