Book recommendation

[Sam]

Hi all,

I have two children, 18 and 17. I am looking for a book that teaches the value of money (not necessarily ER) to young adults. Hopefully, something that's realistic, interesting, and in-sync with the younger generation.

Thanks,
Sam

 

[SolidA]

Hi Sam!! My boys are 21 and 19 - "The Richest Man in Babylon" is a slim book that is easy to read; and (I know I will catch flak on this board for mentioning her name) Suze Orman is a good one for catching young people's attention (OK, I don't always agree with her, but if you were 18 she'd at least be semi-interesting to read!); David Bach is simple (to understand); "The Coffeehouse Investor" is good; "The Armchair Investor" is also easy to understand. OK guys, remember - Sam asked for books that would hold 18 year old's attention, NOT tomes that we all have slogged through!!!!! Do they drive? If you have a tape/CD player in the car, these books on tape would be good.

 

[Cut-Throat]

I know the only kind of books that held my attention when I was 18 had nothing to do with the value of money!

 

[Lazarus]

The Teenagers Guide to the Real World by Marshal Brain has a great chapter on money for teens.

 

[2B]

I know the only kind of books that held my attention when I was 18 had nothing to do with the value of money!

And they usually had fold out pictures.

 

[CA Sparky]

How about "Money & the Meaning of Life" by Needleman?

http://www.amazon.com/gp/product/03..._1/102-3598684-1952150?_encoding=UTF8&s=books

It meant alot to me.... depends on how mature the kid is though.
Kind of Zen and the Art of Motorcycle Maintenance.. but about money.

 

[Nords]

The Teenagers Guide to the Real World by Marshal Brain has a great chapter on money for teens.

An excellent read. Our daughter owns it, professes to be disgusted by it, and is secretly thrilled to be learning what's important to grownup life.

I also recommend the "Motley Fool Investment Guide for Teens", thankfully written mostly from the words & stories of teens instead of those Gardner fools. Another great read highly endorsed by our 13-year-old.

It might be a stretch for a teen, but you have a daughter, right? In that case I'd recommend "Millionaire Women Next Door". It recycles a lot of "The Millionaire Next Door" but with a healthy slug of grrrrl power and the stories of women who are doing it.

 

[youbet]

Sam, Sam, Sam......

You've got the right idea.  But the book has to be just one tool you use to get the job done.  The number one tool is YOU!

One early morning in northern Ontario, my son and I were paddling through the mist trolling leeches on spinner rigs looking for a walleye for breakfast.  About the time the sun was breaking through, he asked how we were able to afford being there, would we be able to come again, etc.  That was my opening.  Over the next several days, I presented a few brief scenarios about managing life's assets and opportunities.  It took.

Hope you get lots and lots of good suggestions for books for the young ones to read.  I know with your personal insight and advise, they'll get the message.  

 

[roadkill]

Check Out "The Wealthy Barber".


http://www.amazon.com/gp/product/07...f=pd_bbs_1/002-7313880-0257619?_encoding=UTF8

 

[Sam]

Thank you all for your inputs.  I will order the "The teenager's guide to the real world".

Thank you Nords. for the additional recommendations on the "Motley Fool..." and "The Millionaire..." books.  I think I will wait until they graduate from college before suggesting those book.  I want them to have a solid understanding of the value of money, but not obsessed with money or with getting rich at this stage of their life.

Sam

 

[Nords]

Thank you Nords. for the additional recommendations on the "Motley Fool..." and "The Millionaire..." books.  I think I will wait until they graduate from college before suggesting those book.  I want them to have a solid understanding of the value of money, but not obsessed with money or with getting rich at this stage of their life.

When I read them, I picked up more on the comments about getting out of debt and LBYM than I did on any fantasizing about getting rich.

Stanley also makes good points about intelligently picking majors & careers.

For your kid going to USNA, money will be the least of her worries. Not because she'll get so much of it-- she won't-- but because she won't have any time to do anything with it.

 

[Ed_The_Gypsy]

"The Coffeehouse Investor" has the virtue of being very short. It also has a recipe for apple (?) pie.

 

[Lazarus]

An excellent read. Our daughter owns it, professes to be disgusted by it, and is secretly thrilled to be learning what's important to grownup life.

I also recommend the "Motley Fool Investment Guide for Teens", thankfully written mostly from the words & stories of teens instead of those Gardner fools. Another great read highly endorsed by our 13-year-old.

It might be a stretch for a teen, but you have a daughter, right? In that case I'd recommend "Millionaire Women Next Door". It recycles a lot of "The Millionaire Next Door" but with a healthy slug of grrrrl power and the stories of women who are doing it.

I told my daughter to highlight everything she didn't agree with in the book. Which she did. I then told her it was all correct. When she understood that she was wrong she would be an adult. Still waiting.

 

[Lazarus]

Thank you all for your inputs. I will order the "The teenager's guide to the real world".

Thank you Nords. for the additional recommendations on the "Motley Fool..." and "The Millionaire..." books. I think I will wait until they graduate from college before suggesting those book. I want them to have a solid understanding of the value of money, but not obsessed with money or with getting rich at this stage of their life.

Sam

I wish I had had this book when I was young. I probably wouldn't have listened to the advice then. Lots of people much older than teens don't understand this much about life. Marshal Brain has a interesting web site. May have a lot of things you are not interested in. But I think he is a great logical explainer.
http://marshallbrain.blogspot.com/

 

[2B]

I told my daughter to highlight everything she didn't agree with in the book. Which she did. I then told her it was all correct. When she understood that she was wrong she would be an adult. Still waiting.

If you just gave her enough money, she wouldn't have to worry about all that "crap." You cheap bas***d. Why would you cause you beloved children all this stress?

My oldest daughter actually went out the front door on her 16th birthday to see her new car. I laughed until I was weak. She still grumbles about her lack of "ammenities" as a teen living at home.

I think everything came together for me when I had a wife and two infants. I lost my job and figured that with unemployment I had enough money for 3 months. That assumed I made no house payments because they wouldn't forclose for 6 months. In many ways, that was the best thing that ever happened to me.

 

[Lazarus]

I am still laughing thinking about a 16 year old looking for her new car.
Yea, I am a cheap bastard. Wouldn't give her every thing she wanted with no strings or rules. She moved out with her boyfriend about a year ago. She is learning a few things.

 

[HFWR]

You're probably getting smarter, too, huh.. :

 

[Lazarus]

You're probably getting smarter, too, huh.. :

Not yet. My head is pretty thick.