Question For the Financial Gurus Out There

[saint]

Ahhh...the irony of asking for investing advice from a gamgling forum

Anyways...as I will be entering the working world soon, I was curious as to what are some good books on investing, etc. I have a very basic knowledge of IRAs, 401s etc but as a newbie it's tough to sort through good sources. At a bookstore there are a ton of books, it's hard to separate the good from the bad.

Seeing as I will be entering this area in my life, are there any must-reads that you guys can recommend on finances/investing etc?

 

[Captain Crunch]

Sellkirk would probably be the best to reccomend a book, but IMO, I would find someone you know and trust and ask them who they use for these matters. There are a million financial advisors out there who all want to take care of your money, but talking to one who someone you know refers would be the best start. Reading a book might help with understanding all of the different terms and types of investments, but getting solid advice from someone who you trust, especiallly beings you are just starting out, would be the best path to take right now.

You might post something in the "Movers and Shakers" forum if you don't get the response you are looking for here.

Good Luck

 

[onetrickpony]

The Millionaire Next Door

 

[DOGS THAT BARK]

Would echo CC remarks--check with Seilkirk in Movers and Shakers--been following him since before Madjacks and best I've seen--hands down.

 

[dawgball]

In my opinion, these are must reads for mindset moreso than how-tos. This is a good starter list that is required reading for all of our new employees.

Rich Dad, Poor Dad -- Kiyosaki
The Cashflow Quadrant -- Kiyosaki
The Millionaire Next Door (already mentioned)
The Millionair Mind (the follow-up to Next Door) -- Stanley
Think and Grow Rich -- Hill
How to Win Friends, and Influence People -- Carnegie
The Leader in You -- Carnegie

 

[redsfann]

It really depends if you want to hire someone to manage your money, or if you are going to do it yourself.
Biggest thing is to really pay attention to all the various fees attached to any investment vehicle you may be interested in.

Here are a couple of books I've read that you might find helpful.


how to retire rich -- J O'shaughnessy
the smart investor's survival guide -- c carlson

 

[saint]

Thanks guys, I've read the millionaire next door, will get started on some of the others. I appreciate the feedback.

 

[worm44]

Two books currently in Print you should without a doubt read:

1-Debt free by 30-(great book for younger people about how to avoid credit problems and start investing etc for your future)

2-Rich is made not born---(hard book to get a hold of but if you can find it it is literally a step by step blue print to financial freedom)

 

[DOGS THAT BARK]

Would anyone have any use for cassette tapes of books descibed by Dawgball. I have most and they been collecting dust for years. Used to listen to them years ago when traveling.
You pay for shipping and they are yours.

 

[The Boys]

Will your employer be contributing to your 401?? If yes then this is usually the best way to go. For example if your employer matches dollar for dollar then you double your money be contributed immediately.

 

[saint]

Will your employer be contributing to your 401?? If yes then this is usually the best way to go. For example if your employer matches dollar for dollar then you double your money be contributed immediately.

Actually, I will be the employer ...going to be a dentist, might associate for a couple years but once out will be on my own for my business.

 

[Doughboy]

If you are a dentist, then you should at least put into a Roth IRA while your income does not exceed the income limitations of 95k. That way at least you have some tax free savings out there before you start making the big bucks. Just buy some funds inside, and if you are married, make sure you are doing it for both.

 

[DOGS THAT BARK]

While digging out Think and Grow Rich tape album and book to ship to someone who requsted it I also came across some more tape albums(contain full volumn of cassettes). Anyone wish to have them send me shipping address and they are yours.

The Psychology of Winning> Dennis Waitley
The Psychology of Sales> Brian Tracy
Swim with the Sharks> Harvey Mackay
and one of my favs
Your Time and Your Life> Charles Hobbs

Warning comes with each> not responsible for hair loss when engaging in discussions with liberals after use