Can anyone recommend a personal finances book?

[golgi]

I am clueless about taxes, personal investing, etc...I will be starting residency soon and I guess all these things are improtant to know. Can anyone recommend a good, SIMPLE book explaining how all these things work. Is personal finances for dummies good or is something else better.


Thanks!

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[hokiedoc2005]

My financial advisor recommends the Smart Women/Couples/Men Finish Rich books.

Hope this helps.

 

[golgi]

My financial advisor recommends the Smart Women/Couples/Men Finish Rich books.

Hope this helps.

Thanks dude!

 

[timtye78]

My favorite is "The Total Money Makeover" by Dave Ramsey.
Easy simple powerful. I loved it.

 

[GeneGoddess]

Smart Women/Couples/Whatever is pretty good. Honestly, though, Suze Orman's huge volume titled, "The Road to Wealth" is one of the best. I hate her, and she bugs the hell out of me, but it is a good book. Basically, it is a Q&A book. It will say, "What is a Roth IRA" and give an answer. Then it will say, "Which is better, a Roth or a traditional IRA?" and give an answer. Very well laid out and answers the "questions" you have.

Try looking at the library or a bookstore first. There is also a similar book by Money (I think it is "The NEW Money Book of Personal Finance" that is also very good and complete.

 

[rubyness]

I like Suze Orman's new book-- The Money Book for the Young Fabulous and Broke" I'm not sure of the exact title, but I know it involves being young fabulous and broke.

It includes info about improving FICO scores, dealing with credit cards, buying a home / car, describes the stock market, savings, investments, retirement.

All simple, and not too overwhelming. Plus the whole thing ties into her website where you can get even more info & advice.

 

[cabby]

The Wall Street Journal Guide To Understanding Personal Finance is short and goes over a lot of topics with pictures and graphs to help explain concepts. Check out amazon.com to see some sample pages.

Mark

 

[skeezix]

Check out The Wealthy Barber by David Chilton. The style is somewhat goofy, but the concepts are clearly & compellingly explained. It sounds ridiculous, but once I started it, I didn't want to put it down--concepts I had discounted as boring suddenly became interesting. It's an easy, pleasant read.

 

[skypilot]

Check out this one: the "Coffeehouse Investor" It is good for docs because it allows you to avoid all the investment hype.

Another good read if you want a philosophy on money is "Your Money or your Life" by Vickie Robbins and Joe Dominiguez. Again this book shows you how to avoid investment hype.

 

[trouta]

I liked Get a Financial Lifeersonal Finance in Your Twenties and Thirties by Beth Kobliner. It covers most of what you need to know in appropriate detail.

 

[ortho2003]

My favorite is "The Total Money Makeover" by Dave Ramsey.
Easy simple powerful. I loved it.

Financial Peace is probably a better book by Ramsey. It goes more into detail, rather than giving tons of personal stories.

 

[RexKD]

I'm going into medicine from a finance career on Wall Street.

I recommend Corporate Finance by Brealey and Meyers

It's the intro finance book used at Wharton and Harvard.

It's not personal finance, but if you read it and work through the problems, you will have a better knowledge of finance than if you read 100 personal finance books.

One you have an excellent background in valuation and corp fin, you can make the transition to personal finance easily.

 

[Dr. J?]

For straight up investing, I would suggest one of Jack Bogle's book:

http://www.amazon.com/exec/obidos/t...102-1762591-1641711?v=glance&s=books&n=507846

He was one of the founders of Vanguards first mutual funds and has some excellent advice on how to invest you money over the long-term w/o getting hit with high maintenance fees. Also, ck out http://flagship.vanguard.com/web/corpcontent/CorporatePortal.html for additional ad hoc educational items.

In regards to personal finance, I second the above posts about Dave Ramsey. Haven't used the books, but listen to the AM show. Seems to be a straight shooter.

Other sites that may help you:

http://marketplace.publicradio.org/

www.tiaa-cref.org

http://www.smartmoney.com/

 

[DrDawg]

Has anyone come across any books that apply to doctors or residents? It seems to me that we have specific issues that the general pop doesn't have. If there are no books does anyone know any company that does fin planning for residents/doc?