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Book recommendation for spouse
08-05-2010, 06:59 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 2,873
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Book recommendation for spouse
My spouse has decided that she wants to understand our investments and has asked me to get a book for her to read that explains everything. I need to get something that is easy to read, or as easy as possible for an investment book, and most importantly, explains the terminology before using it. If she starts reading about bonds, mutual funds, etc, without a prior description, it's going to be a hard read.
I pretty much follow Bernstein's approach to investing and I'm thinking of getting her his latest book, Investor's Manifesto, but I'm wondering if there might be a better choice.
Any recommendations?
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08-05-2010, 07:05 PM
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#2
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Moderator Emeritus
Join Date: May 2007
Posts: 12,901
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I like Swedroe's " the only guide" collection. I think he does a good job of explaining various investments.
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08-05-2010, 07:07 PM
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#3
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Moderator Emeritus
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
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Solin's books are succinct and right on, IMHO.
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Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.
As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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08-05-2010, 07:09 PM
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#4
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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I would start with something a little easier than Bernstein . My first investment book was Financial Planning for the Utterly Confused by Lerner . It explains everything in simple terms . If you give her too complicated of a book she may lose interest .
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08-05-2010, 07:31 PM
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#5
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Thinks s/he gets paid by the post
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
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Quote:
Originally Posted by kiki
My spouse has decided that she wants to understand our investments and has asked me to get a book for her to read that explains everything. I need to get something that is easy to read, or as easy as possible for an investment book, and most importantly, explains the terminology before using it. If she starts reading about bonds, mutual funds, etc, without a prior description, it's going to be a hard read.
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We might be in-laws!
My wife is very visually oriented when it comes to learning (she's an artist and suffers from dyslexia) so when she asked me the same question it took a while to find the right kind of books. I didn't want anything childish (she was also a banker with dyslexia -which still amazes me) but it would help if it explained things from the ground up, and included diagrams and pictures.
Here's the one that she said was easy for her to understand and she enjoyed learning from it: Amazon.com: The Wall Street Journal Guide To Understanding Personal Finance (9780743216968): Kenneth M. Morris, Alan H. Siegel: Books
It may be a little dated on some things, but it has been a good place to get started.
I will also add that I am discovering that, at least in the case of my wife, doing rather than reading helps a lot. So, we don't just talk about capital gains, I dig out a blank Schedule D and show her how to fill it out using an end-of-year statement. Also, working with a certain concept from different angles seems to help also. So, when we talk about something different, I always find a way to tie it back into something she's already learned, even if it's just a contrast, and it helps her create a better picture in her mind.
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08-05-2010, 08:36 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 2,873
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I agree that Bernstein would be too much at this point. I think Swedroe also fits into that category. She needs something that's a bit more approachable and if she finds finance interesting enough, then she can move onto these books.
This is a great list to start with. I found them all at the library and I put them on hold. This way she can try a few of them out and see which one she likes best.
Thanks!
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08-05-2010, 11:49 PM
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#7
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Full time employment: Posting here.
Join Date: Jun 2008
Location: Caldas da Rainha, Portugal
Posts: 583
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The Only Investment Guide You'll Ever Need by Andrew Tobias. I read the first edition 20 years ago, it's one of the three things I credit with being able to retire early (the other two are luck and the asset allocation theory).
He's a good writer, the book has a conversational tone, like your friendly uncle is explaining it to you. I've been recommending this book since I read it.
Amazon.com: The Only Investment Guide You'll Ever Need: Newly Revised and
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08-06-2010, 01:06 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Posts: 7,733
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It has been ages since I read Tobias's book, but I do remember it fondly as one of the first investment books I read and quite good.
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08-06-2010, 07:13 AM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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I have outlived most of the people I don't like and I am working on the rest.
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08-06-2010, 07:15 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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One of the best points is made very simply here--Outfox the Box:
The Coffeehouse Investor Outfox the Box
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I have outlived most of the people I don't like and I am working on the rest.
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08-06-2010, 11:12 AM
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#11
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Full time employment: Posting here.
Join Date: Jan 2007
Posts: 582
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Another vote for Tobias' Only Investment Guide You'll Ever Need. I think it's great for someone completely new to investing.
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08-07-2010, 07:38 AM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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I recommend "The Bogleheads' Guide to Investing" I have given it to my teenager to read. It's simple, but very thorough.
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08-07-2010, 07:54 AM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
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I also like Andy Tobias' book.
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I have outlived most of the people I don't like and I am working on the rest.
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08-07-2010, 07:55 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Posts: 1,934
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Yet another vote for Tobias, The Only Investment Guide You'll Ever Need.
Just as excellent for people new to investing are Larimore, et al, The Bogleheads' Guide to Investing and Chilton, The Wealthy Barber.
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And if I claim to be a wise man, it surely means that I don't know.
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08-08-2010, 07:22 AM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,303
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I'm also a Bernstein follower and while Investor's Manifesto is the most basic, it's probably too much to start with. I too would recommend the ORIGINAL Coffeehouse Investor for a beginner. The NEW Coffeehouse Investor is NOT as good a choice IMO - I was very surprised reading it, he added unnecessary complexity to what was an excellent first book from my POV. I also have the Tobias book and it was good, but it's pretty dated now...
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08-08-2010, 10:10 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Aug 2007
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I agree with Coffehouse Investor. I remember reading the original book after Bernstein, etc, and felt that it was too basic, but that's because I read all of the other stuff. For someone starting it out, it couldn't be better: it's short and to the point.
I think that'll be book #2 after a more general personal finance book.
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08-08-2010, 02:15 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 4,172
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I'm not sure I've read books on this subject but everything I have read in both the Idiots and Dummies series of books has been excellent. Check them out at your local library.
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