Favorite personal finance books.

[Disneefun]

Your Money or Your Life, by Dominquez and Robin. This book taches the concept of "financial independence" where you are able to live off the passive income from your investments and then pursue the things that are most meaningful to you in life. It takes a hard look at things like how many "life hours" you have to work to pay for things and really makes you question the worth of those things when you think about the amount of time you give up to get them.

 

[MrsPete]

Thank you for your post.
I think "All Your Worth" will be the first book on my list.

I would like to see a book for those of us who are already frugal also. This is something I would like to read about.

As far as the "The Tightwad Gazette" goes I will have to see if my Library has it. I don't think they sell this one anymore.

Try eBay for the book -- I've often bought used books for pennies on the dollars.

 

[MrsPete]

. . .
We've discussed this book before on this board and we get a lot of "But, but...I live in a major metro area and there's no way my must haves could *ever* be below 50%....that's not realistic....that's my *mortgage* payment".

And my answer would be....then move, or take in roommates, or do what it takes to balance your money. Because you can't live and succeed financially long-term without keeping those must-have's at or below 50%.....otherwise you'll always feel deprived (if you don't have enough for wants), or you'll never save a dime.

We live in an area with a low cost of living, and our must-haves are only about 20% of our take-home pay. Things sure do vary by location.

 

[Mary•Poppins]

I am a big fan of the Bogleheads. I have read (and bought ):

Boglehead's Guide to Retirement and Boglehead's Guide to Investing

These books are not about managing budgets as much as how to invest your money for retirement. It focuses on "slow and steady ... with the least about of costs" wins the race.

The also have a great forum. Here is the link below:

http://www.bogleheads.org/forum/index.php

 

[Buzzsgramma]

'Automatic Millionaire' by David Bach...........but a must read would be..'The Millionaire Next Door' by...Stanley