Author Topic: Your Must Read Recommendations  (Read 17945 times)

Mike Key

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Your Must Read Recommendations
« on: February 15, 2012, 08:27:37 PM »
I'm going to start a thread, without actually giving any recommendations myself.


But I'd like to know, what are your must read book recommendations. Or let's modernize it, with what are the must read articles you send to friends who are interested in mastering their money.
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Re: Your Must Read Recommendations
« Reply #1 on: February 16, 2012, 03:27:23 AM »
I'm going to assume that it goes without saying that everyone should read Early Retirement Extreme by Jacob Lund Fisker and Your Money or Your Life by Joe Dominguez.

I would like to recommend, therefore, Choosing Simplicity by Linda Breen Pierce.  I can't remember how I found out about this book, but it's a really interesting study on people who choose to live a simple life.  Well worth a read by all Mustachians! 

EnemyMind

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Re: Your Must Read Recommendations
« Reply #2 on: February 16, 2012, 04:53:46 AM »
If this list isn't specifically on the stoic/live below your means type kick.

Richest Man in Babylon - Nearly everything can be extrapolated from this text.

- If you have a problem with how much others make, you should probably work more on making more yourself and see if those tax increases seem so sweet after that. -

Matt K

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Re: Your Must Read Recommendations
« Reply #3 on: February 16, 2012, 06:27:33 AM »
First book that put me on the right path was a gift from my Dad: "The Automatic Millionaire" by David Bach (naturally, it was the Canadian edition: http://www.amazon.ca/Automatic-Millionaire-Canadian-Powerful-One-Step/dp/0385660308 not enough Canadian editions for money books). The simple concepts of paying myself first and tracking all of my spending helped me pull myself out of debt.

One that changed the way I value my own work is Secrets of the Millionaire Mind by T Harv Eker. It is definitely a "motivational" book. That means the first third of the book is spent promising you all the wonders of the world if you just read it (I've already bought it, stop selling me on the book and get on with it!) - which seems to be par for the course. What I liked about it was how it changed my mind on getting paid.

Two examples:
1 - The best paid people in the world are not paid by the hour but paid by results. There is little motivation to do the best you can when you think in hourly rate. But when you think about delivering the best product / client experience / best value possible, hours no longer matter and you DO provide the best, and people reward that. More than that, you can never scale how many hours you work; if you offer 40 hours a week to your client, you'll never be able to provide for more than one (or two if you're nuts) client(s) at a time. But if you think about results, and offer results, then you can provide for as many clients as you want to take on (but now you are thinking about how to get those results, and maybe that means hiring on and training others to help you).

2 - I've always felt guilty about receiving money for doing things. I didn't value my effort, and expertise that way. Consequently, when I DID try to offer my skills and expertise to try and bring in a bit more income, I felt very awkward, had a hard time setting a fair price, and had a hard time convincing people I was actually worth it. Secrets reminded me that when I want someone else's expertise, and they deliver something far better than I could do myself, I am HAPPY to pay them for it. If I'm on vacation and I want to see all the best mountain biking trails in a foreign land, and I only have a limited amount of time to do it, I am absolutely happy to pay a local guide who'll ensure I have an awesome time and come home with great memories. I'm useless at renovations, so when I wanted to put in a new bathroom (pre-reading MMM), I paid a really talented guy to do it. It was expensive, but it was WORTH IT to me. Providing expertise and talent for a fair price isn't just good for you, it is good for the client who gets what they wanted, and don't feel like they took advantage of you or owe you anything. It sounds kind of obvious now, but I had a really hard time accepting this concept.

When I think of books that have improved my financial and entrepreneurial muscles, those two are the first that come to mind.

Edit: I just want to mention that much of Secrets is not Mustachian. It does not talk about frugality and living efficiently. It talks more about a successful mindset with regards to money. It is still "mainstream" in supporting your natural want for more stuff. I think combined with the Mustachian ethos it works well, just don't expect any Early Retirement concepts.
« Last Edit: February 17, 2012, 06:09:15 AM by Defconfunk »

Ben

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Re: Your Must Read Recommendations
« Reply #4 on: February 16, 2012, 07:59:28 AM »
The Intelligent Asset Allocator- William Bernstein.

Compelling, direct book that uses conversation-level math to explain why diversifying can help you build a strong portfolio. He is very clear on what portfolio theory can and can not do for you.

Four Pillars of Investing- William Bernstein

Why low-cost index funds are a better decision than picking stocks yourself or paying someone to do it for you, and why minimizing investment expenses is the name of the game.

Complete Financial Guide for Young Couples- Larry Burkett

Sound, practical advice for newlyweds and others that are trying to integrate their lives and their (usually small) budgets together. Emphasizes that money problems are at the heart of many divorces, and encourages a biblical, stewardship approach to finances. Money can own you by allowing yourself to stay trapped in debt and desperate, or it can own you by consuming your every thought with how you can get more of it. This encourages a middle path.

MEJG

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Re: Your Must Read Recommendations
« Reply #5 on: February 16, 2012, 08:36:35 AM »
Great stuff on here already!

I liked this blog post series: http://www.thesimpledollar.com/31-days-to-fix-your-finances/

Not truly MMM, but very helpful in my first steps thinking about FI, and the only thing that got Mr. MEJG on board.

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Re: Your Must Read Recommendations
« Reply #6 on: February 16, 2012, 12:05:41 PM »
I second the Automatic Millionaire by David Bach for youngsters.  This book showed me the power of compound interest.  I also enjoyed The Millionaire Next Door quite a bit. 

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Re: Your Must Read Recommendations
« Reply #7 on: February 16, 2012, 01:47:09 PM »
Don't forget the MMM reading list, linked from the top of the MMM site.
http://www.mrmoneymustache.com/the-mmm-reading-list/

Also, someone posted a link to a pdf of The Richest Man in Babylon. I can't check whether it works right now.
http://www.ccsales.com/the_richest_man_in_babylon.pdf

EnemyMind

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Re: Your Must Read Recommendations
« Reply #8 on: February 16, 2012, 08:10:30 PM »
Also, someone posted a link to a pdf of The Richest Man in Babylon. I can't check whether it works right now.
http://www.ccsales.com/the_richest_man_in_babylon.pdf

Pdf works great. Thanks!

Its been mentioned but I really didn't care for the millionaire next door or the other one that is similar about the richest people in different towns.

a lot of the information from that is somewhat worthless, a large amount of it is luck because they got into something new a long time ago, there isn't a lot of hard won success throughout it. Not to say you still cant get lucky and hit the next big thing in your area, but you hardly need a book to tell you to "be more lucky in your timing"

from a motivational standpoint of course its not bad.
- If you have a problem with how much others make, you should probably work more on making more yourself and see if those tax increases seem so sweet after that. -

arebelspy

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Re: Your Must Read Recommendations
« Reply #9 on: February 16, 2012, 08:50:17 PM »

Its been mentioned but I really didn't care for the millionaire next door or the other one that is similar about the richest people in different towns.

a lot of the information from that is somewhat worthless, a large amount of it is luck because they got into something new a long time ago, there isn't a lot of hard won success throughout it. Not to say you still cant get lucky and hit the next big thing in your area, but you hardly need a book to tell you to "be more lucky in your timing"

from a motivational standpoint of course its not bad.

Hmmm, that's not what I got out of it at all.  It more talked about how the "rich" got there by being frugal, rather than lucky.

It had very Mustachian principals of driving used cars, living below your means, etc.  It did talk about many starting their own business, but not about getting rich by being lucky or getting into something new, but rather through the hard work of their small business.

I think you should reread it and give it another chance.

Anyone else read Millionaire Next Door and want to let us know what their reading of it was?
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EnemyMind

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Re: Your Must Read Recommendations
« Reply #10 on: February 16, 2012, 09:56:00 PM »
perhaps I am crossing books with similar names. I do recall a few of them stating some intersting facts about most millionaires dont/havent had car loans etc etc.
- If you have a problem with how much others make, you should probably work more on making more yourself and see if those tax increases seem so sweet after that. -

Eristheunorganized

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Re: Your Must Read Recommendations
« Reply #11 on: February 17, 2012, 12:00:20 AM »
On a less finance related note, "Cradle to Cradle: Remaking the Way We Make Things" is an interesting read on environmental issues. Rather than being doom and gloom, it looks at manufacturing goods and how it can be improved.  Although not about personal finance, it makes you question your consumerism and reconsider reusing what you already have.

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Re: Your Must Read Recommendations
« Reply #12 on: February 17, 2012, 03:44:38 AM »
Hello.  What's a good book about the origins of capitalism and its ensuing history?

Mike Key

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Re: Your Must Read Recommendations
« Reply #13 on: February 17, 2012, 05:16:53 AM »
Great stuff on here already!

I liked this blog post series: http://www.thesimpledollar.com/31-days-to-fix-your-finances/

Not truly MMM, but very helpful in my first steps thinking about FI, and the only thing that got Mr. MEJG on board.

The Simple Dollar followed by Get Rich Slowly where two of the first personal finance blogs I ever started reading. I started following Trent when he started off in 2007 with his writing.

Its been mentioned but I really didn't care for the millionaire next door or the other one that is similar about the richest people in different towns.

a lot of the information from that is somewhat worthless, a large amount of it is luck because they got into something new a long time ago, there isn't a lot of hard won success throughout it. Not to say you still cant get lucky and hit the next big thing in your area, but you hardly need a book to tell you to "be more lucky in your timing"

from a motivational standpoint of course its not bad.

perhaps I am crossing books with similar names. I do recall a few of them stating some intersting facts about most millionaires dont/havent had car loans etc etc.

Yeah, you've got your books mixed up. The Millionaire next door was a deconstruction of what most people think Millionaires are and how they live. Basically proving that MTV Cribs and all that consumerism is a lie and not how most millionaires live.

For example, one of the interesting pieces about the book was that of people with a net worth of 1 million, the vast majority drove late model SUVs that where purchased used with cash.

As arebelspy there was a lot about frugality in the book. Nothing about people being lucky. Almost all where small business owners.

I read that book several years ago, so I could be rusty on the points, but those are what have always stuck with me.

Hello.  What's a good book about the origins of capitalism and its ensuing history?

That's a tough one to nail down. You can start with some really old works such as The Republic by Plato. But much has been written.


Like Terrorism, it's a term with no consensus on the precise definition nor on how the term should be used as a historical category. In modern context, it's generally referred to as the modern systems of economies that have dominated the West since about the 1400's.

But it has been practiced by other societies thru-out history.

Capitalism however isn't something someone thought up one day. It's really just something that has been going on since man started to barter, trade and then accumulate wealth. And it's been evolving ever since. Different systems of governance over commerce and labor have emerged thru-out history to attempt to solve societies problems with inequality which is one of the reasons I think people don't realize Capitalism just kinda is.

I really wish I had one solid book to offer on the subject but I don't. Well... maybe I do. The Greatest Salesmen Ever, which is about an ancient merchant who travels trade routes and accumulates vast wealth. It's a bit fiction, but there is a lot of truth about merchants being some of the first mainstream capitalist, in that they where seeking capital.
« Last Edit: February 17, 2012, 05:25:03 AM by mikekey »
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EnemyMind

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Re: Your Must Read Recommendations
« Reply #14 on: February 17, 2012, 05:37:40 AM »
Alright I found the books I was confusing them with.

"the richest man in town" - not terribly bad, not great either

"Rich like them" - really quite useless.
- If you have a problem with how much others make, you should probably work more on making more yourself and see if those tax increases seem so sweet after that. -

Physics

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Re: Your Must Read Recommendations
« Reply #15 on: February 17, 2012, 06:08:07 AM »
Hello.  What's a good book about the origins of capitalism and its ensuing history?

This may not be exactly what you are looking for (and they are long reads, but I found then to be fantastic) but the Baroque Cycle by Neal Stephenson can be viewed as a big (semi-fictional, but conceptually great) history of capitalism.

the books are:

Quicksilver
The Confusion
The System of the World
« Last Edit: February 17, 2012, 06:09:56 AM by Physics »

arebelspy

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Re: Your Must Read Recommendations
« Reply #16 on: February 17, 2012, 08:06:31 AM »
Hello.  What's a good book about the origins of capitalism and its ensuing history?

Again, another one that might not be exactly what you're looking for, but then again, it might be: The Worldly Philosophers by Robert Heilbronner

Amazon link: http://www.amazon.com/Worldly-Philosophers-Lives-Economic-Thinkers/dp/068486214X

Read some of the reviews and see.
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velocistar237

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Re: Your Must Read Recommendations
« Reply #17 on: February 17, 2012, 09:31:02 AM »
For those intimidated by investing, try this book:

http://www.amazon.com/Shortest-Book-Ever-Saving-Retirement/dp/0802446531/

At 192 small pages, with a clear prescription, it taught me the basics and got me over my fears. From there, I was able to build up to some of the more dense investing classics, but it will be a long time before I change my investment strategy.

adam

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Re: Your Must Read Recommendations
« Reply #18 on: February 17, 2012, 11:11:23 AM »
I figure most people here will appreciate this NY Times article on Target data mining the shit out of you:
http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html

I really enjoyed that one.

scottf200

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Re: Your Must Read Recommendations
« Reply #19 on: February 19, 2012, 10:41:38 PM »
Bar none my favorite investment methodology and retirement planning book. Comes with 1 yr subscription to their site. Incredible forecasting and fund comparisons for risk/reward.  I use the site to point to my Fidelity and Vanguard accounts so it understands my whole picture.  ** This site is an employee benefit to many big name companies (Ford, Dell, etc). I've used it for years but my wife had it at Lucent.

Book: http://corp.financialengines.com/employer/intelligent_portfolio.html 

Methodology: http://corp.financialengines.com/employer/investment_methodology.html

I liked this book so much I bought several copies for friends and just gave it to them.

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Re: Your Must Read Recommendations
« Reply #20 on: February 20, 2012, 09:01:43 AM »
Hello.  What's a good book about the origins of capitalism and its ensuing history?

Not capitalism exactly per se, but Venkat at Ribbon Farm writes some kick ass reviews of books about the history of the world and corporations:

http://www.ribbonfarm.com/2011/06/08/a-brief-history-of-the-corporation-1600-to-2100/
http://www.ribbonfarm.com/2011/12/01/how-the-world-works/
http://www.ribbonfarm.com/2011/12/15/how-the-world-works-part-ii/

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Re: Your Must Read Recommendations
« Reply #21 on: February 22, 2012, 08:00:32 AM »
The Cashflow Quadrant is a light read and a bit cheesy, but the repetition in there forced a couple of really important financial management concepts through my thick skull early in my working life. I have that book to thank for FI age 39. Basically spend less than you earn and buy assets which throw off cashflow with what you have left over.  Plenty of places to get this lesson, but this presentation worked for me.
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Re: Your Must Read Recommendations
« Reply #22 on: February 28, 2012, 10:07:41 AM »
I've been reading a lot of financial information lately including, at the suggestion of the reading page on this site, A Random Walk Down Wallstreet. I picked up and read what appeared to be the most recent edition at my library (9th Ed, 2007), but a subsequent search of Amazon shows a 10th edition published in 2011. Has anyone read the most recent version? Are there substantive changes to the content that would justify a wild goose chase through the Chicago Public Library system to find the newest version?  I imagine the book would have to have some discussion of the 2008 collapse, but I wonder whether there are any changes to the basic strategies advocated by Malkiel. Anyone?

Ben

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Re: Your Must Read Recommendations
« Reply #23 on: February 29, 2012, 12:57:36 PM »
Doubtful. The examples will be more current, and the newer edition would probably have a somewhat more favorable outcome on future returns in the stock market(since P/E ratios are more favorable after a decline). But it's usually a bad sign if investment books require major revisions due to recent events.

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Re: Your Must Read Recommendations
« Reply #24 on: February 29, 2012, 01:58:55 PM »
Hmmm, that's not what I got out of it at all.  It more talked about how the "rich" got there by being frugal, rather than lucky.

It had very Mustachian principals of driving used cars, living below your means, etc.  It did talk about many starting their own business, but not about getting rich by being lucky or getting into something new, but rather through the hard work of their small business.

I think you should reread it and give it another chance.

Anyone else read Millionaire Next Door and want to let us know what their reading of it was?

It's very much a frugality thing. Also talks about how one extravagant purchase (expensive car, expensive rug) sets off a chain reaction where you need to "match" the rest of that area of your life. So folks living in the exclusive neighborhoods also "need" pricy cars, antique furniture, etc. There is an element of luck involved in how some of the individuals made or could have made their millions. For instance, there's an anecdote about a guy who didn't take advantage of his company's stock purchase option, which would've been worth millions by the time he retired. It also could've been worth nothing, so that piece of hindsight really doesn't establish a rule. The overall message of the book was essentially that you should be saving 10-15% of your income, but most people save less than half of that (UAWs), while most millionaires (PAWs) saved at least double the amount.

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Re: Your Must Read Recommendations
« Reply #25 on: February 29, 2012, 02:06:25 PM »
The Investor's Manifesto and The Intelligent Asset Allocator (both Bernstein) are the only full books I've read. I was trying to get through Bernstein's suggested reading list here: http://www.efficientfrontier.com/reading.htm

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Re: Your Must Read Recommendations
« Reply #26 on: March 24, 2012, 08:12:01 PM »
   I agree with a bunch of what's already been said.  I am a funny bibliophile, in that while I am a voracious reader I don't collect books, but I have had Your Money or Your Life on my shelves ever since my Dad told me to read it when I was 18.  That's one I reread over and over again.  More than any particular title, though, is the idea to read a lot of them.  When I was 22, and 2 years out of college I was very lost.    I was physically ill, unemployed, and very depressed for 6 months.  Everyday I would walk to Borders Bookstore, and sit and read a book about finance or investing for 4-8 hours a day.  I probably read 4 books a week for 24 weeks.  I got a job about the time I had exhausted the personal finance section.  Some of them were crap, most of them had the same couple of nuggets of wisdom in them. If it was published prior to 1997, I have probably read it.  It was a good education.
   Coincidently, my plan after I get off the computer is to walk to Barnes & Nobles.  I miss Borders though.  And no, I don't feel guilty about reading their books for free.  They have gotten plenty of money from me, mostly for lattes or hot cocoa over the years. 

Heidi

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Re: Your Must Read Recommendations
« Reply #27 on: April 05, 2012, 11:03:51 PM »
This isn't a book pertaining to frugality or investment, but to medical care and its overall condition in America which does impact all our bottom lines. I just got finished reading the book myself this evening, and am convinced that nearly anyone who gives a lick about their own health care and how their money and their insurance premiums get spent needs to read it.

It's called How We Do Harm: A Doctor Breaks Ranks About Being Sick in America by Otis Webb Brawley, M.D., and I picked up a copy of the book from the local library after catching an interview he did on Tavis Smiley a few weeks back. If you don't happen to recognize the name, this isn't just some random book published by a naturopath crank with an axe to grind against the establishment, this is a book by the Chief Medical and Scientific Officer and Executive V.P. of the American Cancer Society. The interview and the book both take an unflinching and grounded look at what America's medical system is doing to its own patients through corruption, greed, scientific indifference and marketing and he does it with rational thinking and a sometimes dark humor. The patient stories are heartbreaking, and the realities are sobering. I've lost a lot of family and friends to cancer over the years, and some of the treatments and protocols discussed struck a deep chord with me. It's definitely a book worth taking the time to read, and for me is one of the first books in ages that has actually made me want to purchase a copy to have in the personal library to share with others.
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Re: Your Must Read Recommendations
« Reply #28 on: April 06, 2012, 10:11:31 AM »

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Re: Your Must Read Recommendations
« Reply #29 on: April 22, 2012, 03:06:32 PM »
I would add my vote to Your Money or Your Life as the best first read.  I also found Affluenza to be a great "shake you awake out of your consumerist coma" book.

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Re: Your Must Read Recommendations
« Reply #30 on: April 30, 2012, 06:33:04 PM »
Millionaire Teacher by Andrew Hallam

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Re: Your Must Read Recommendations
« Reply #31 on: May 19, 2012, 06:45:23 PM »
I would add my vote to Your Money or Your Life as the best first read.  I also found Affluenza to be a great "shake you awake out of your consumerist coma" book.
Would you care to elaborate?
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Re: Your Must Read Recommendations
« Reply #32 on: May 20, 2012, 12:18:23 AM »
The only one on my list that hasn't been mentioned is "Ordinary People, Extraordinary Wealth" by Ric Edelman, particularly the first chapter, which covers mortgages. It was published in 2001, but is as timely as ever. He's written other good pf books, but this one is my personal favorite.
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Re: Your Must Read Recommendations
« Reply #33 on: May 24, 2012, 11:01:18 AM »
If this list isn't specifically on the stoic/live below your means type kick.

Richest Man in Babylon - Nearly everything can be extrapolated from this text.

I have read so many personal finance books, this ancient book is by far my favorite book. It's concise and to the point. timeless classic that touches your soul. I can't wait to read this at storytime to my kiddos when they turn 3!

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Re: Your Must Read Recommendations
« Reply #34 on: May 31, 2012, 10:57:11 AM »
I recently found this one on Amazon: Cashing in on the American Dream: How to Retire at 35 by Paul Terhorst. I was a bit skeptical at first, since it was first published in 1988 or so and I wasn't sure what I'd find. However, it has turned out to be another good read along the same lines as YMOYL or ERE. It is essentially ERE 20 years earlier, so of course the financial investment advice is going to definitely be quite outdated for a myriad of reasons. But that information isn't the majority of the book, so I still think it is an exceptionally good read for informational value. What I found most interesting is that he writes strongly for the "$50/day Rule" in that total expenses total no more than $50/day which works out to about $18k/annually. When thrown into an inflation calculator, his numbers would be about double in modern dollars--right in line with what Len Penzo advocates. Yet at the same time, MMM, Jacob, and plenty others have managed to keep their expenses at or below the $50/day level, even with families and of course in the face of inflation that has approximately halved the buying power of a dollar compared to the 80s. I wouldn't recommend it as a first read because of how different the financial landscape is, but I'd definitely give it in conjunction with something more modern or an addendum on modern financial instruments. The title is powerful and with my aforementioned caveats, I think this would definitely be an excellent gift choice to high school/college graduates. They have the opportunity to use this book to the fullest since they aren't usually already nearing 30 with a pile of debt behind them and a lackluster job.
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Re: Your Must Read Recommendations
« Reply #35 on: August 01, 2012, 08:33:55 PM »
I'm going to go a bit off the reservation here and recommend Thou Shalt Prosper.  It explains why Jews have been more prosperous as a group throughout history, and is written by a Rabbi (so obviously no anti-semitism).  Essentially the message is very pro-work and pro-business, explaining why work and business are inherently good activities, that benefit not only you but everyone around you.  The mentality of this book is certainly more along the lines of saying that working your whole life is better than retiring early.  Not exactly the MMM philosophy, right?  So I'll recommend it under four contexts:

1. It has recommendations that will help you prosper during your accumulation phase--having the right attitude to succeed, and reach FIRE more quickly.
2. It also may help you better understand the moral argument behind work and business being good and ethical things--aiding your attitude about work while you are still working.
3. Most people after reaching FIRE, I would argue still are very productive and contributing members of society, MMM included.  This material could help you sort out the right attitude of what to do after retirement to stay engaged and happy, rather than feeling lost and isolated, after retirement.
4. Even if you disagree with the work-is-good mentality, understanding your enemy is a good thing, in my opinion!

By the way, it isn't heavy handed religious God Commands You To Do This stuff either--it is written from a very practical perspective.  Sure there is scripture quoted here and there, but it's in a very practical sense, explaining how Jewish beliefs and teachings have led to their economic success.  Following the book does not require or assume any sort of religious belief.

By the way, along the lines of #4 above, I'm currently reading Against Thrift: Why Consumer Culture is Good for the Economy, the Environment, and Your Soul.  I just started it so can't really say whether I recommend it, but I just couldn't pass it up when I saw it on display at the library.
« Last Edit: August 01, 2012, 08:38:32 PM by ShavinItForLater »

PFgal

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Re: Your Must Read Recommendations
« Reply #36 on: August 08, 2012, 08:16:08 PM »
The first personal finance book I read was Smart Women Finish Rich by David Bach and I loved it.

http://www.amazon.com/Smart-Women-Finish-Rich-Achieving/dp/076791029X/ref=sr_1_1?s=books&ie=UTF8&qid=1344478290&sr=1-1&keywords=smart+women+finish+first

I thought his Automatic Millionaire was good too, but there was something about Smart Women that really spoke to me and opened my eyes to the possibility that yes, even I, could do this.  Also, while he did mention couples, he also included single women.  So much of personal finance, MMM included, seems to assume a two-income household or a high-earning one-income household and for many of us, those are possibilities (or at least they aren't the current reality.)  I found the book very approachable and one that I highly recommend.

And of course, I agree that Your Money Or Your Life is a must-read.  I may have to break down and buy it soon, since I keep taking it out of the library.  I'm a visual person, and the charts are really great.  I get excited to go over my finances every month just so I can see the changes on the charts!  This is another good eye-opener for a newbie.  Again, it shows that FIRE is possible, and it gives some great guides to determining if your expenses align with your values, which I hadn't seen done as well anyplace else.
« Last Edit: August 09, 2012, 08:05:37 PM by PFgal »
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Matt K

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Re: Your Must Read Recommendations
« Reply #37 on: August 09, 2012, 08:41:27 AM »
I was reminded by another thread of "The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future" by Chris Guillebeau

I read it a month or two ago, and I loved it. I think it helped me a fair bit with my side gigs. I made my Dad (who does music recording / producing as a side gig) read it, and he loved it to.

If you're thinking about making some money on the side, I think it is well worth your time.

carriep

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Re: Your Must Read Recommendations
« Reply #38 on: September 12, 2012, 12:06:15 PM »
Amy Dacyzcyn's [Tightwad Gazette/u] was truly life-changing for me in the late 90's.  My husband & I were over 100k in student loan debt and I felt so hopeless and out-of-place among our social circle, which was full of people excessively spending and deeply invested in the consumer-oreinted lifestyle.  At the time, I hadn't really processed my values and had no idea about how to handle money.  Amy's work inspired me, helped us to get out of debt, and also empowered me to feel ok about being thrifty in a sea of people who found it strange and often questioned my choices.

I also highly recommend Your Money of Your Life and Financial Peace by Dave Ramsey.  I enjoyed The Millionaire Next Dorr and Rich Dad, Poor Dad.  I am currently reading Walden by Thoreau.  It's may not be considered practical, but I find it inspiring.

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Re: Your Must Read Recommendations
« Reply #39 on: September 12, 2012, 01:23:38 PM »
My favorite "mustachian" books aren't about money per se, but about your mindset on life. Here are two:

Mindset by Carol Dweck
This book is going to flip a switch in your brain that says "I can make changes in my life." The author calls it a "growth mindset," but itís really just the knowledge that no matter what hand we were dealt in life, we can improve attributes about ourselves by practice and mindfulness. She gives countless examples of athletes not born with any special gift, but who went on to dominate their sport due to determination and hard work. There are examples from almost every walk of life: sport, business, parenting, etc.

The Power of Habit by Charles Duhigg
This book goes deep into the psychology behind how humans form (and break) habits. It gives specific tips to help you adopt new habits and make them stick.

carriep

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Re: Your Must Read Recommendations
« Reply #40 on: September 12, 2012, 02:22:36 PM »
My favorite "mustachian" books aren't about money per se, but about your mindset on life. Here are two:

Mindset by Carol Dweck
This book is going to flip a switch in your brain that says "I can make changes in my life." The author calls it a "growth mindset," but itís really just the knowledge that no matter what hand we were dealt in life, we can improve attributes about ourselves by practice and mindfulness. She gives countless examples of athletes not born with any special gift, but who went on to dominate their sport due to determination and hard work. There are examples from almost every walk of life: sport, business, parenting, etc.

The Power of Habit by Charles Duhigg
This book goes deep into the psychology behind how humans form (and break) habits. It gives specific tips to help you adopt new habits and make them stick.

I've added these to my list of books to read. Thanks, I always enjoy taking in new perspectives & these are two books I'm not familiar with.

yolfer

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Re: Your Must Read Recommendations
« Reply #41 on: September 13, 2012, 12:53:36 PM »
I've added these to my list of books to read. Thanks, I always enjoy taking in new perspectives & these are two books I'm not familiar with.

You're welcome! If you enjoy those, you should also look into "The 7 Habits of Highly Effective People" and "Choice Theory".

carriep

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Re: Your Must Read Recommendations
« Reply #42 on: September 14, 2012, 09:42:55 AM »
I've added these to my list of books to read. Thanks, I always enjoy taking in new perspectives & these are two books I'm not familiar with.
[/quot
You're welcome! If you enjoy those, you should also look into "The 7 Habits of Highly Effective People" and "Choice Theory".

I read 7 Habits years ago, but I'm sure it would be worth reading again.  I guess Covey died recently.  I will add Choice Theory to my list, too.

I just thought of the series of books by Sarah Susanka , starting with the Not So Big House.  She advocates for smaller houses with more character.  Spending more money per square foot for a house that incorporates details that make a house more livable & aesthetically pleasing.  Her ideas inspired my family to sell our McMansion (about 3800 sq. feet) and move to an older (although not historical), more established neighborhood & into a house almost half as large (2000 sq. feet). 

I think it might be helpful to start a thread about housing, not DIY project, but how our values/choices in housing inform our timeline to FI, impact our use of cars, contribute to our overall happiness.  What do you think?

yolfer

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Re: Your Must Read Recommendations
« Reply #43 on: September 14, 2012, 05:15:42 PM »
I think it might be helpful to start a thread about housing, not DIY project, but how our values/choices in housing inform our timeline to FI, impact our use of cars, contribute to our overall happiness.  What do you think?

I think that's a great idea!

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Re: Your Must Read Recommendations
« Reply #44 on: September 20, 2012, 06:03:30 PM »
The best book I've ever read about self sufficiency, debt and credit (or lack of) is The Prize Winner of Defiance, Ohio by Terry "Tuff" Ryan. Terry's mother Evelyn lived in 1950s America with 10 kids and a drunk for a husband and no access to credit.

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Re: Your Must Read Recommendations
« Reply #45 on: September 28, 2012, 12:43:49 AM »
Good stuff! You can also Revolution 2020 written by Chetan Bhagat.

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Re: Your Must Read Recommendations
« Reply #46 on: October 01, 2012, 11:13:28 AM »
One of my favorites is The Tao of Abundance, by Laurence Boldt.  I've had my copy for a long time, it's been dropped in the bathtub even so it's a bit thick and frilly now.  LOL! I don't agree with every bit of the book, but overall it's been a great help in redefining abundance for me.  Life is an extraordinary gift all by itself, and we spend SO much of it thrashing around.  Breathe and enjoy!  :)

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Re: Your Must Read Recommendations
« Reply #47 on: October 01, 2012, 01:21:54 PM »
I really enjoied "The New Global Student: Skip the SAT Save Thousands on Tuition and Get a Truly International Education" by Maya Frost.  It gives a good alternative to traditional college, and if you're FI by the time the kids are in high school, it can be a great alternative.

SJ

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Re: Your Must Read Recommendations
« Reply #48 on: October 02, 2012, 04:52:35 AM »
This book isn't so much about mastering your money as it is about society mastering our money, but since it's been such a huge influence on me personally, I thought I'd recommend it here: Sacred Economics: Money, Gift, and Society in the Age of Transition by Charles Eisenstein.  The ideas in this book can change our world for the better in such beautiful ways.   

I linked the book on Amazon above, but I would highly recommend visiting the website where you can read it for free and also view the books 12 minute video trailer, which is so very inspiring.
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KulshanGirl

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Re: Your Must Read Recommendations
« Reply #49 on: October 10, 2012, 10:44:25 AM »
Hungry Planet - Peter Menzel
Material World:  A Global Family Portrait - Peter Menzel

These two books are really amazing - in Hungry Planet, he takes photographs of families throughout the world along with one month's worth of their typical groceries.  Material World is the same premise, only he has photographed families along with ALL of their possessions dragged out in front of their houses.  The range is pretty stunning.  Both of these books will make you feel rich.