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April 07, 2008

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The Total Money Makeover by Dave Ramsey did it for me!

Ditto on "Millionaire Next Door". It doesn't get a lot of respect these days, but it's message have had a lasting impression on me.

I'll have to check out some of the other books you mention. I haven't read any of them.

I find that there is often a lot to be learned, even in books that don't get a lot of respect (like the Millionaire Next Door).

This is a great list!

Financial Peace from Dave Ramsey...

You guys have to read Peter Schiff's book, "Crash Proof"

Peter has predicted the economic hardship more accurately then any other economist in the world in this book. Everything from the housing crash to the credit crunch.

The Only Investment Guide You Will Ever Need is the one that changed me. It's full of common sense tips, delivered in a very entertaining way. I'd been using Managing Your Money (still the best personal finance software I have ever used, even though it was in DOS!!!), co-created by the author, Andy Tobias, prior to reading the book.

I've been a BIG fan ever since! By far, the best book on personal finance and investing I've read to date. It's been updated several times since the first publication (and very well at that). I did like the Automatic Millionaire, too. It's a very good book, especially for those of us (me!) who are not active with their finances (I have automated nearly everything).

The book Living Rich by Spending Smart is a really good one. I read it a couple of months ago and I was very impressed, I would definitely recommend it.

The most enlightning book I've ever read was "Your Money Or Your Life" By Joe Dominguez. It really started my husband and I going down the path to financial freedom together. We were polar opposites about money. I was the thrifty one, and he was very casual about spending and really had no burning desire to save or spend less. We butted heads a few times over goals and saving for the future. After we read this book together we decided on what was important, and now make decisions about money as a couple not as individuals. We now weigh most purchases based on time spent working to pay for them. You'd be surprised what is does to your perspective.

IMHO, the first book one should read before investing a single penny is "The Intelligent Investor" by Benjamin Graham. After reading the first few chapters, one can figure out if they want to go the Bogle way (Low Cost All Market Stock/Bond Index Fund) or Buffet way (Value Investing based on fundamental research). It is important to realise that getting market return is easier than it looks & getting above market return is tougher than it looks & an investor should decide which way suits them the most...

Richest Man in Babylon... Classic...

Glad to see someone else recommending it.

People need to read books like these before they ever pick up a book about how to pick great stocks!

Great suggestions, and I am going to check several of these out. My all time best is Burton Malkiel's Random Walk Guide to Investing. I have read it a half dozen times and recommended it to many--beautiful in its simplicity. I have also read Malkiel's original book A Random Walk Down Wall Street. But the Random Walk Guide is more practical and to the point. He is perhaps the original Boglehead.

I think the Wealthy Barber does a good job of explaining the hows and whys of saving and investing at a very high level which is easy for everyone to understand. I haven't yet had a chance to take a look at The Richest Man in Babylon, but I certainly intend to read that personal finance book after reading this post

Interesting. I haven't read any of the 5 from MSN Money, but I have read all of *your* 5, except for Career Intensity. I'm putting that at the top of my reading list.

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