What one book?

Freakonomics

Two things it did, helped spark an interest in economics and made me see that things should be looked at from all angles
 
The Retirement Myth by Craig Karpel. Written in 1995, this book, more than any other, brought home the reality that I would need to work hard and plan carefully to secure my own retirement and that it would be folly to rely on social security for that purpose. He explained in clear language, and with memorable imagery, the fundamental demographic problems we face. I date my substantial saving and investment efforts to the day I read the last page of this book.
 
Last edited:
Most of these books I haven't read, and many I haven't even heard of. These are not the results I was expecting. I was expecting all answers to fall within the range of five or six well-known books. Very interesting, and gives me lots of new ideas for reading.
 
Rich Dad, Poor Dad... I know that this is flawed as an investment text, but it did change my view on life. Prior to reading we were two professionals w three kids a reasonable mortgage and a small rental property so we were doing OK. However, at the time of reading I thought it perfectly described us as well educated and "smart" in our professional lives, but not very smart when it came to building wealth.

It was the beginning of a long (10 year) and continuing education and it did help me to be even more open to opportunities (so far mostly real estate) other than W-2 income.
 
In my case it was an event and not a book . I was 32 recently divorced with two children and that made me realize I had to figure out the future . After that revelation I read every book I could on the subject including ( don't laugh) Suze Orman .
 
Revolutionary Road by Richard Yates because the one person who understands your plans to escape Big Blue literally lives in the loony bin but for him numbers is easy.
 
I have read so many financial books that I don't really remember.

I read a book about low cost Vanguard mutual funds and John Bogle about 20 years ago... that put me on to the low cost indexing approach. I can't remember the name of it.

I read a lot of books on fundamental and technical analysis. In the end, I was not very disciplined at keeping up with that level of detail... hence, the use of mutual funds.

I can remember one book that I read very early before I had much understanding about stocks. It's get rich quick title caught my eye. Although it is nothing of the sort. If you read it, you might chuckle... it is not "The Intelligent Investor". But it's content was profound to me at the time.

It is about the stock market (not real estate). This guy came up with a method to building a portfolio and rebalancing it based on a formula (a form of asset allocation to mitigate risk). It has been so long, I do not remember all of the details. But he had back tested examples. The first edition was written in the 70's... I read it in the late 80's... probably the 2nd edition.


How to Make $1,000,000 in the Stock Market Automatically


Amazon.com: How to Make $1,000,000 in the Stock Market Automatically: (4th Edition) (9780451204417): Robert Lichello: Books


His method has some followers. I am sure there are critics.

Lichello A.I.M. - Risk Management Home Page -


How did it help me... at the time it made an impression on me. Once I read it... I struck me that there appears to be a relatively manageable way to make a lot of money over time and "I could do it". It motivated me to learn more about stocks and the stock market.
 
The Zurich Axioms by Max Gunther

While flawed in many respects, it really made me understand the importance of taking risks with my investments.

Lots of others of course, but this was one of the earliest ones.
 
How I turned $1,000 into 1 million investing in RE

Bill Nickerson's classic book "How I turned $1,000 into 1 million (later 3 then 5 million) investing in real estate part time. I originally read this after losing my home in the recession of 79/80. I was encouraged to start anew, smarter with the knowledge of this book. My wife and I bought a home 6 weeks later, our first investment house 3 years later, and I was so excited I eventually became a Real Estate Broker. My wife and I own numerous rental homes and (once) an out of state resort home, all because of this book. Dated, yes, but the information is still relevant. Out of print, but available on ebay and Amazon. I found one recently at Goodwill for $2. Don't pay over $10.

Also a great follow-up. The millionaire real estate investor by Gary Keller
(of Keller Williams real estate). Real life case histories of dozens of real estate investors. (I know, that is 2 books..........but...). btb
 
For me it was How To Retire Rich by James O'Shaughnessy. It was the first financial book I ever read, and it introduced me to the concept of FIRE (not his term), and also made me realize that I like this financial stuff. I had never really thought about it before.
 
Can't be done. So I'll say The Four Pillars of Investing A Random Walk Down Wall Street The Intelligent Investor The Only Investment Guide You'll Ever Need The Millionaire Next Door Your Money or Your Life Work Less, Live More How to Retire Happy Wild & Free The Bogleheads Guide to Investing Free to Choose.

In no particular order except the first...if you insist.
 
Can I add one? Way back when, over 20 years ago, I didn't own any equities, I read the 7th edition of a classic called How to Buy Stocks, by Louis Engel and Brendan Boyd. It was first published in 1953 and when I bought the 1982 Bantam edition had already had over 6 million copies printed. Basic, but got me interested.

How do I know all these details? It's still on my bookshelf.
 
"Making The Most of Your Money" by Jane Bryant Quinn. 1990's publication.

The most important thing I learned from this book is that no one should care more about looking out for you money than yourself. In otherwords, the so-called "experts" just because they have a title, aren't always looking in your best interests.

The second most important thing I learned is to not chase performance. Index investing is a way to play the market without playing the market.
 
Moemg said:
In my case it was an event and not a book . I was 32 recently divorced with two children and that made me realize I had to figure out the future . After that revelation I read every book I could on the subject including ( don't laugh) Suze Orman .
Click to expand...
I can never understand the dislike of Suze Orman. She is smart, she doesn't mislead, and she writes very clearly. Not only that, unlike most male pf gurus she is not an egomaniac.

Ha
 
haha said:
I can never understand the dislike of Suze Orman. She is smart, she doesn't mislead, and she writes very clearly. Not only that, unlike most male pf gurus she is not an egomaniac.

Ha
Click to expand...

Powerful women are often objects of dislike........perhaps because they intimidate some [-]men[/-] people! :LOL:
 
Meadbh said:
Powerful women are often objects of dislike........perhaps because they intimidate some [-]men[/-] people! :LOL:
Click to expand...
Yes; I like tall women too. Not exclusively mind you, but if I see some 6'2'' woman at a dance, I always dance with her. (I'm 5-10)

Ha
 
I think I'd go with "Your Money or Your Life". When I first read it you could get 7% on a CD and that's what they said to do for cash. Obviously not possible now. They revised the book fairly recently.

I haven't really made a study of these books though.
 
haha said:
I can never understand the dislike of Suze Orman. She is smart, she doesn't mislead, and she writes very clearly. Not only that, unlike most male pf gurus she is not an egomaniac.

Ha
Click to expand...

Well... I'm female, she doesn't intimidate me at all, but I find her simple and boring. She's not misleading, but from my encounters with her programs, she isn't pushing a sophisticated type of investing, more of a safe one.

I'm 5'2.5" (I shrank! from 5'3") and I intimidate the hell out of men... it's an interesting phenomenon and has nothing to do with height, obviously... :LOL:
 
thinker25 said:
I'm 5'2.5" (I shrank! from 5'3") and I intimidate the hell out of men... it's an interesting phenomenon and has nothing to do with height, obviously... :LOL:
Click to expand...

You go girl.
 
thinker25 said:
I'm 5'2.5" (I shrank! from 5'3") and I intimidate the hell out of men... it's an interesting phenomenon and has nothing to do with height, obviously... :LOL:
Click to expand...

I'm 5'4" and I have discovered that I am considered quite intimidating to a lot of people.

I am woman, hear me roar! :LOL:
 
haha said:
I can never understand the dislike of Suze Orman. She is smart, she doesn't mislead, and she writes very clearly. Not only that, unlike most male pf gurus she is not an egomaniac.

Ha
Click to expand...
To me it's the "volume", i.e. her forceful speaking style. I watched her on PBS many moons ago and turned the show off after 15 minutes. I am no shrinking violet myself, but her style was a real mood killer. ;)

I'm 5'7" and I know people find me intimidating. I speak moderately and am often quiet (in listening and observing mode). I avoid drama like I avoid eating liver.:sick:
I figured it out a long time ago...people often "mistrust" a person with a good center of gravity. :D
 
You must log in or register to reply here.

Similar threads

T
All Your Worth (Book Review)
Replies
5
Views
673
walkinwood
walkinwood
E
Five Years Retired: Lessons Learned
Replies
24
Views
2K
Koolau
Koolau
F
Gifting The Simple Path to Wealth Note Suggestions
2
Replies
28
Views
3K
sengsational
sengsational
S
Problems with Fidelity Bond depth of book
Replies
3
Views
482
foxfirev5
foxfirev5
J
Money Books for Newbies
Replies
12
Views
689
scfr
S

Latest posts

Back
Top Bottom