Author Topic: Best Investing Book for an Investing Newbie?  (Read 2086 times)

Bbqmustache

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Best Investing Book for an Investing Newbie?
« on: August 12, 2014, 05:53:54 AM »
My 21 year old trainer and I had a conversation last night that was truly eye opening.  I was talking with her about the difference between Roth IRAs and Traditional IRAs when her comments and questions stopped me in my tracks.  She could understand the IRA "shells", but had not one idea of money in the accounts growing.  She thought if you but $5000 in, years later, that $5000 (and no more) would be there.

What is a great start up book for some one who has no grasp of money working for you instead of against you?

Thanks!

fallstoclimb

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Re: Best Investing Book for an Investing Newbie?
« Reply #1 on: August 12, 2014, 08:04:16 AM »
I really like the "If You Can" booklet by William Bernstein.  It's very short and sweet, but every chapter has assigned reading to do that I've been slowly working my way through.  So far all have been surprisingly readable - I think he put together the list with a millennial audience in mind, so it's probably perfect for your 21 year old trainer. 

(Here for $1, I think on his site for free:  http://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI)

Bbqmustache

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Re: Best Investing Book for an Investing Newbie?
« Reply #2 on: August 12, 2014, 08:14:19 AM »
Nice!  The preview I saw looks like this might be a great read for her.  Thanks!

blackomen

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Re: Best Investing Book for an Investing Newbie?
« Reply #3 on: August 12, 2014, 09:01:08 AM »
Fail Safe Investing by Harry Browne

Even if you don't adopt his "Permanent Portfolio" strategy, his 16 rules of financial safety are invaluable to keep in mind which ever strategy you decide to later pursue.

schimt

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Re: Best Investing Book for an Investing Newbie?
« Reply #4 on: August 12, 2014, 09:02:25 AM »
i have recommended "Get a financial life: finance for your 20's and 30's" to a few friends who were in about the same boat as your trainer, very limited finance knowledge, but very readable. The first chapter summarizes all the other chapters, then she can read the other chapters at her choice or interest. It covers a wide variety of topics like debt, savings, car loan, mortgage, retirement savings, ect.

Then i would advise her to read "your money or your life" which is more on the frugal side and teaching the concept of financial independence. 

palebluedot

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Re: Best Investing Book for an Investing Newbie?
« Reply #5 on: August 12, 2014, 09:15:21 AM »
Nice!  The preview I saw looks like this might be a great read for her.  Thanks!

I remember someone sharing this PDF version of the book. Fortunately I kept it :)

https://dl.dropboxusercontent.com/u/29031758/If%20You%20Can.pdf

clarkm04

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Re: Best Investing Book for an Investing Newbie?
« Reply #6 on: August 12, 2014, 09:22:01 AM »
Another vote for If You Can by Bernstein.  It's short, very good, and free if you use that Dropbox link posted.

I've sent it to a few people and quite a few even if they don't change much, get investing better.