The Best Financial Book I've Ever Read, Part 1

Well we're starting Monday off right -- with a whole new series here at Free Money Finance. This series is entitled "The Best Financial Book I've Ever Read" and like the last series, it will not only give you some great information, but it will also let you hear from several financial bloggers.

That said, let's get started with Nickel from FiveCentNickel.  His selection is "Time is Money" by Frances Leonard. Here's what he had to say:

"What I remember the most from having read it is the sense of clarity that I got about money and the future. The subject matter was really nothing revolutionary, just the basic principle that 'Money makes money, and the money that money makes, makes more money.' Perhaps I was just ready for a change, and maybe any finance book would have done the trick, but this book really did change the way I think about money and the future.

After laying out the case for the power of compounding, the book lays out a general plan for making a million. It then gives you a general rundown of the ins and outs of stocks, bonds and mutual funds. After this, there are several chapters devoted to topics such as risk tolerance, retirement accounts, and inflation-proofing your investments. There are also chapters on getting out of debt, buying a house and schooling your kids. There’s even a chapter devoted to the special concerns of women – if you’re going to live longer than the rest of us, you had better be able to pay for it! Finally, the book closes with a chapter titled 'The Six Seductive Sirens of Stupidity: Words of Warning for Future Millionaires.'

While sections of it will no doubt be outdated by now (e.g., it was published in the pre-Roth IRA era), I can wholeheartedly recommend 'Time is Money' to anyone who is starting out and just trying to get a handle on their finances. It’s easy to read, interesting, and downright inspirational. (Or at least it was to me.)"

I think I'm going to have a big reading list after this series is over! I've never read this book before, but based on Nickel's recommendation, it's going on my "to read" list.

Click here to read part 2.

Comments

[Michael]

The best financial planning book I ever read was called Best Financial Planning book. It was hands down the best book on money matters that I've ever seen! Really a GREAT read! Hope that helps.