Author Topic: I need some books on financial planning...  (Read 2339 times)

WootWoot

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I need some books on financial planning...
« on: November 08, 2017, 03:29:37 PM »
...and I really, really have trouble understanding what's written in 99% of them.

I'm math-phobic, to begin with. I'm looking for something written in plain language, along the lines of Jane Bryant Quinn. Right now I'm reading one of her books, but the copyright is 2006.
The other books I took out of the library are by Samuel Case (looks a bit dry, and really old copyright wise) and "The Only Investment Guide You'll Ever Need."

I'm seriously considering "Personal Finance for Dummies." I've always liked the series (despite the title!). I have looked at some of the books recommended on here, and they seem a bit too complicated for where I'm at right now. (Where I'm at: Trying to save more for retirement, trying to manage a windfall, trying to invest money without losing any of it, hopefully without paying large fees).

So, I'm looking for something written

1. After the recession;
2. In Plain English;
3. For an older investor (not completely necessary, but "Get A Financial Life" is too "young" for me.

Can you help? Thank you very much! :)

Acastus

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Re: I need some books on financial planning...
« Reply #1 on: November 09, 2017, 12:49:25 PM »
Nothing wrong with Personal Finance for Dummies, by Eric Tyson. It was the first book on the topic I ever read. His advice on reducing expenses is pretty basic. Try the Frugalwoods blog for that.

WootWoot

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Re: I need some books on financial planning...
« Reply #2 on: November 09, 2017, 01:52:44 PM »
Thanks for responding! I'll check out that blog too.

jalich

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Re: I need some books on financial planning...
« Reply #3 on: November 10, 2017, 12:17:27 PM »
The Simple Path to Wealth by Jim Collins (jlcollinsnh) is an excellent general resource. It's not tailored to a specific age group, but explains personal investing in fairly simple terms. Plus MMM wrote the forward, so you know it's pretty closely aligned with Mustachian values if that sort of thing is important to you.

http://jlcollinsnh.com and you can find a link to http://www.thesimplepathtowealth.com/ from his homepage. The whole site is a good read; the book is mostly an edited and organized version of the blog laid out in a logical manner. Well worth the $15 IMO.

MDM

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Re: I need some books on financial planning...
« Reply #4 on: November 10, 2017, 09:41:40 PM »
Previous suggestions all good.  See also Getting started - Bogleheads and www.etf.com/docs/IfYouCan.pdf for yet more perspectives.

Find the one(s) that work best for you.  Good luck!

aceyou

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Re: I need some books on financial planning...
« Reply #5 on: November 12, 2017, 05:37:15 PM »
I'll second The Simple Path to Wealth.  He makes finance understandable and even enjoyable without dumbing anything down. 

WootWoot

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Re: I need some books on financial planning...
« Reply #6 on: November 13, 2017, 12:01:12 PM »
OK, sounds good! Thank you, everyone, for your help!

I'm almost done with the Jane Bryant Quinn book. It was helpful, especially in explaining some stuff re: life insurance.

Cwadda

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Re: I need some books on financial planning...
« Reply #7 on: November 13, 2017, 12:02:03 PM »
The Simple Path to Wealth by Jim Collins (jlcollinsnh) is an excellent general resource. It's not tailored to a specific age group, but explains personal investing in fairly simple terms. Plus MMM wrote the forward, so you know it's pretty closely aligned with Mustachian values if that sort of thing is important to you.

http://jlcollinsnh.com and you can find a link to http://www.thesimplepathtowealth.com/ from his homepage. The whole site is a good read; the book is mostly an edited and organized version of the blog laid out in a logical manner. Well worth the $15 IMO.

Yes, this book is what you want.

reeshau

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Re: I need some books on financial planning...
« Reply #8 on: March 07, 2018, 08:34:36 PM »
I recommend  "Your Money Ratios" by Charles Farrell.  It's a great financial-planner-in-a-box.  While he does not avoid math, it is straightforward with plenty of examples.  He also does a good job building up a financial plan, starting with earning and spending, then going into major money events (houses, kids, college, retirement).  He emphasizes how they are related--those are the ratios in the title.

It is geared for traditional retirement age, and earnings from median wage to about $75k.  So, not necessarily in line with MMM.  But I consider it a very good primer, giving you a "license to learn" upon finishing:  you will better know the areas to study further, and what questions you want answered.  Everyone I have loaned or referred the book to raves about it, and for different reasons, which I take as proof of the breadth of topics covered.

WootWoot

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Re: I need some books on financial planning...
« Reply #9 on: March 08, 2018, 09:55:17 AM »
OK, thank you! I will check into it!

Leisured

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Re: I need some books on financial planning...
« Reply #10 on: March 14, 2018, 05:57:41 AM »
These two books are more about investing than financial planning. 'The Richest Man in Babylon' by George Clason, and 'The Intelligent Investor' by Benjamin Graham. Both available for slight cost from Amazon. The Richest Man implies, correctly,  that investing goes back to the ancient world, although the characters in the book are fictional. Both books give good insights.

Edit: the low cost of these books are if you buy as Kindle.
« Last Edit: March 14, 2018, 06:00:10 AM by Leisured »

2Birds1Stone

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Re: I need some books on financial planning...
« Reply #11 on: March 14, 2018, 06:12:27 AM »
A Simple Path To Wealth by JCollins is a good read.

WootWoot

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Re: I need some books on financial planning...
« Reply #12 on: March 26, 2018, 03:21:26 PM »
Thanks for the suggestions. Haven't been on here in a week or two so didn't see them till now.

Zola.

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Re: I need some books on financial planning...
« Reply #13 on: March 29, 2018, 07:40:16 AM »
These two books are more about investing than financial planning. 'The Richest Man in Babylon' by George Clason, and 'The Intelligent Investor' by Benjamin Graham. Both available for slight cost from Amazon. The Richest Man implies, correctly,  that investing goes back to the ancient world, although the characters in the book are fictional. Both books give good insights.

Edit: the low cost of these books are if you buy as Kindle.

Reading this at the moment, an easy read, light and interesting. Straight forward!