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Old 08-15-2016, 09:04 AM   #21
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Millionaire Teacher....Good introductory book. I had my daughter read it(at age 17) and write a book report on it. I paid her 50 bucks to do that.
Result - Today, Three years later, she has 15K in her Roth IRA.
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+1 This is the one I always recommend. It is actually readable, unlike so many of them.

There is also this book that is getting a lot of play right now... I have not read it.. for obvious reasons...

Millenial Money
https://books.google.ca/books/about/...ir_esc=y&hl=en
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Old 08-15-2016, 11:53 AM   #22
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Personally I hate books. first, I find almost every book I've tried to choke down, dry as dust and within 5 minutes puts me to sleep.
Clearly, you are not a candidate for Thinking, Fast and Slow by Daniel Kahneman, a 499 page tome on why people make the spending decisions they do. I found it fascinating.

Kahnman is the only psychologist to win a Nobel Prize in economics.

More practically for the OP I also liked the book The Millionaire Teacher. Predictably Irrational was a recreational read for me.
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Old 08-15-2016, 11:55 AM   #23
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I recommend The Coffeehouse Investor. A very small book, as indexing is simple. His 'Out-fox the box' example is simple and golden.

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Old 08-15-2016, 04:43 PM   #24
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My teenage sons favorite book was " Rich Dad, Poor Dad, he also reads a lot of Mr Money Mustaches blogs.
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Old 08-15-2016, 08:44 PM   #25
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How about that index card of financial advice? Google it to find more. Seems like a good starting place, especially for someone who may not want to sit down and read a whole book.


For my son, I wrote up my own document, a few pages covering things like LBYM, staying out of debt, account types, index vs managed vs individual stocks, insurance, fees, taxes, etc. I tried to tailor it to our life and relate things I've done. I concluded with the suggestion of a basic diversification plan of stocks/bonds/international in VG index funds, suggesting 110-age in stock, 2/3 US and 1/3 international. Pointed out it's not the only way, but watch out for fees and why not to chase returns.
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Old 08-15-2016, 08:53 PM   #26
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I think their own brain is the best starting point. Then read when they have questions.
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Old 08-15-2016, 09:16 PM   #27
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I have never read a book on investing, I just did it.
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Old 08-15-2016, 10:09 PM   #28
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The Truth About Money by Ric Edelman. I love it.


I better not die right after retiring! I've saved for years to be able to enjoy the money and time. (This is one of my fears)
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Old 08-16-2016, 08:02 AM   #29
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Johnathan Clement's Money Guide - 2016.


The Millionaire Teacher by Hallam.
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Old 08-16-2016, 08:06 AM   #30
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I think their own brain is the best starting point. Then read when they have questions.
A younger person comes to you for advice, and you tell them to use their brain, and read a book? How do you figure that will go over? I'd walk away from that, mumbling to myself, but loud enough for them to at least hear the last word: "hole".
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Old 08-16-2016, 08:28 AM   #31
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Making the Most of Your Money- Jane bryant Quinn
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Old 08-16-2016, 08:55 AM   #32
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I'd recommend the book "Investing For Dummies". It's a very easy, light read with a good bit of humor in it. The Bernstein and Bogle books are great for people in this forum, but for someone who really doesn't want to learn about this stuff, the Dummies book is not nearly as imposing to get through.


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I was a CFO for a lumber company before I retired. I bought 20 copies of this book (out of my own pocket) for our management team. Several people had since commented to me that this was the best thing I had ever done for the company.

I also recommend A Random Walk Down Wall Street, it was the book that changed my investing habits for the better.
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Old 08-16-2016, 12:56 PM   #33
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I would recommend 'Millionaire Teacher' as the best low level entry level book. And agree that 'The Four Pillars of Investing' is the best book for those who are eng/math/sci/business types. Bernstein's brief 'If You Can' is a really good potential wake up call in a very small dose.
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Old 08-16-2016, 02:17 PM   #34
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This one sums up everything pretty well and is a quick read. I like it and recommend it to younger folks.
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Old 08-16-2016, 04:12 PM   #35
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...This weekend, my God Son got into a conversation with me about investing. I was shocked by his lack of knowledge. He's 36, newly married, and has a family income that's probably around $130K. I was appalled to learn that he wanted advice on how to invest $5,000. I began talking about index funds but quickly learned that he didn't know what an index was. So I started describing the three major indexes.

It occurred to me that the best solution would be to recommend an introductory book on investing. But I've never read a book that elementary. Do any of you out there know a good book on investing that starts at ground zero??
note: bold by redduck

Hope that he didn't pick up that you were shocked and appalled--kind of interferes with the learning process. And, why would he need a description of the three major indexes?

I would suggest that he read no book. (Seems to have worked for RobbieB)


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I have never read a book on investing, I just did it.
Anyhow, I would explain in real simple terms

chorus: could you do it any other way, redduck?
redduck: what's that now?
chorus: never mind.

and suggest he get into a Target Date Fund. Then you could discuss the differences in the various Target Date Funds' make-up (e.g. mostly large U.S companies, some international companies and some bonds). The two of you could pick a specific fund. You could talk to him about ways of adding to the fund. Then, if he's interested he could start reading. Hopefully, he won't be all that interested--and that he just continues to put money into the Target Fund (ok, maybe something into Wellesley as he get older).
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Old 08-16-2016, 04:14 PM   #36
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I think it depends on what his interest is and how much he likes to delve into details. For me, an engineer by training and profession, Bernstein's The Four Pillars of Investment is the best.

Jack Bogle is good at simplifying the topic. His black book on investing (or is it mutual funds) may be a good one to get started on.

Or, you "schedule" a session with him and walk him through the basics. For some people, that latter approach is best. I would prepare just as I would if it were a presentation to a customer/peer at work.
+1 on four pillars, it's what did it for me.
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Old 08-16-2016, 05:45 PM   #37
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A Random Walk Down Wallstreet was a good read and has been updated many times over the years.
An excellent book.
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Old 08-16-2016, 07:59 PM   #38
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An excellent book.
+1
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Old 08-17-2016, 05:35 PM   #39
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pssst! Where's unclemick? He can tell 'em most of what they need to know in one sentence. Could do a LOT worse! YMMV
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Old 08-17-2016, 06:23 PM   #40
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It's true, I never read a book. I also never heard of all these guys you all are referencing all the time with their financial columns / blogs.

I just did it. And more than once, many brokers at many companies. Moved stuff around as I saw fit based on performance or lack of same.

I don't know squat about this stuff and it's making me lot's of dough.

Really, just do it -
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