The Money Mustache Community
General Discussion => Welcome and General Discussion => Topic started by: Fuperw84 on December 26, 2017, 05:11:24 AM
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Does anyone know good financial books to read if you're trying to live frugal and build wealth for retirement. I'm currently reading "The Millionaire Next Door" and "Stop Acting Rich...And Start Living Like A Real Millionaire". I'm also watching Dave Ramsey's teachings on Youtube. Any recommendation is greatly appreciated.
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Your Money or Your Life is always highly recommended it. I read it over the weekend and enjoyed it. It talks about some of the fundamentals of FIRE, including what “enough” is.
YNAB is coming out with a new book this week I believe.
Also definitely pick up JL Collins’ The Simple Path to Wealth.
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Dave Ramsey has good advice to help you get out of debt. His investing advice is awful. You'll want to read jlcollins stock series for what many regard as the easiest way to build wealth in these parts
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Your Money or Your Life is always highly recommended it. I read it over the weekend and enjoyed it. It talks about some of the fundamentals of FIRE, including what “enough” is.
YNAB is coming out with a new book this week I believe.
Also definitely pick up JL Collins’ The Simple Path to Wealth.
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Agree. Would like to add that you can get around JL Collin's book by just reading his website Stock Series.
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For people with tricky circumstances (neurological differences, disabilities with intermittent symptoms, post-trauma, etc):
https://brainquirkcash.com/book/
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Set for Life for those who are interested in including real estate in their portfolio.
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Dave Ramsey has good advice to help you get out of debt. His investing advice is awful. You'll want to read jlcollins stock series for what many regard as the easiest way to build wealth in these parts
+1, all around.
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Your Money or Your Life is always highly recommended it. I read it over the weekend and enjoyed it. It talks about some of the fundamentals of FIRE, including what “enough” is.
YNAB is coming out with a new book this week I believe.
Also definitely pick up JL Collins’ The Simple Path to Wealth.
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Agree. Would like to add that you can get around JL Collin's book by just reading his website Stock Series.
2nd the "Simple Path to Wealth" suggestion. Simply the best book I've read on savings and investments.
True, you could just read his blog posts to get most of the info in the book, but the book lays out everything you need to know in a logical, easy to follow format. I think it's definitely worth the $10.
Also, he created one of the best videos on the internet IMO: https://www.youtube.com/watch?v=eikbQPldhPY&feature=youtu.be
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https://www.bogleheads.org/wiki/Taylor_Larimore%27s_Investment_Gems
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Regarding Financeswithourpose’s post.....I used to totally stress about donating money to people/organizations when I was terrible at saving because I obsessed on how it was affecting me.
I wrote a few checks this year that made me smile because I knew I was helping a good cause and I was able to make these donations because I started being smart about money a few years ago. Giving feels real good! Thanks for making that point in your post.
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On the giving point we're approaching the last hour for setting up a donor advised fund and reaping some tax breaks this year.
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Happy Money is a book I’ve perused lately that gives a few interesting tidbits on the link between spending and happiness. For example, your 1995 Camry gets you from home to work the same as the CEO’s Ferrari gets him from home to work. He has a Ferrari because “he enjoys driving it” and couldn’t drive something inferior. But even with a Ferrari he never actually takes it out just to drive it and enjoy it. Basically he takes Wagyu beef and makes sloppy Joe.
Those sorts of behavior and decision insights are packed into many of the books mentioned. After a while you understand it’s totally cool (and profitable!) to ignore the Joneses and find your own happiness.
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If you've ever had doubts on how the stock market functions or needed someone to explain to you why "get rich quick" is statistically a game for suckers, read "A Random Walk Down Wall Street." It's informative, easy to follow, and just plain entertaining.