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suggestions welcomed. Best financial help book to read?

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leilei0812

Rough_Rock
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Sep 18, 2006
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Hello everyone,
My bf and I are graduate students not really making much money, we survive off stipends currently. But I will be graduating soon. I was wondering there is a must read book for explaning retirement plans and other basic things we need to be doing when I start making a salary. Thank you!
 

partgypsy

Ideal_Rock
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I recommend "Your money or your life" by Dominguez and Robin. It is a financial book but so much more. There is some bits of financial advice that are outdated (some kind of government bonds that no longer have the high interest rates available when the book was written) but otherwise very useful.
The main point is live below your means, so you control your money and not the other way around.

I would not recommend any of Robert Kiyosawki''s (sic) books. I read one of his books and thought that some of his advice was a little troubling and could get some people into big trouble. Dig a little further: he isn''t who he claims to be.
 

partgypsy

Ideal_Rock
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For more fact based guides I like the dummies guide to financial planning, Suze Orman''s books, and the guide written by guy who wrote Dilbert (name escapes me). All books have slightly different advice (bias) about for example how much and what kind of insurance you need, how much to save, what are considered high risk investments or not, so it is good to read more than one book and figure out what applies to you.
However it boils down to that for example everyone knows what to do to stay healthy (exercise, eat healthy food, get good sleep, etc) but sometimes people don''t want to do those things and look for shortcuts instead so people look for a snazzy new diet (all grapefruit diet) or exercise machine to get there. Maybe that will work for a few lucky people but not most.

Healthy financial planning is the same thing (live below ones means, set up so that money is automatically saved into retirement account, have basic insurances). Those basic practices are much more important than picking what exact stock to buy, chasing the latest get rich scheme. But that''s just my opinion.
 

JoangA

Shiny_Rock
Joined
May 16, 2003
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174
I have followed the advice of Bob Brinker for decades, his advice has served me well. Check out his website, he lists many books. I don''t read them all, I''d rather look at jewelry or decorating books.. He does have a newsletter that recommends different types portfolios to match your risk tolerance and age.

http://bobbrinker.com/

I also recommend Terry Savage, she has a couple of books. http://www.terrysavage.com/

Good for you to be young and thinking about this!
 

shel

Shiny_Rock
Joined
Aug 28, 2006
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141
"The Money Book for the Young, Fabulous & Broke"

by Suze Orman
 

scarleta

Brilliant_Rock
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Feb 25, 2006
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1,572
suze orman is the only one I know and would recommend it for beginners Easy to understand.Can''t go wrong
 

leilei0812

Rough_Rock
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Sep 18, 2006
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93
Thanks everyone. I went out last night and bought Suze Orman''s the young, fabulous and broke with a coupon. :)
 
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