Recommended Reading

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IPer
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Recommended Reading

Post by IPer » Tue Aug 13, 2013 9:46 am

Hi,

I have some children that are coming of age. What should I recommend that they would be able to read that would have them "get it" when
it comes to concepts of saving and investing, compound interest/dividends, etc...? One is already 18 yrs old, another will be in a year and some
that are younger. Please advise if you have any experience with this.

Best regards!
Read the Wiki Wiki !

thx1138
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Re: Recommended Reading

Post by thx1138 » Tue Aug 13, 2013 10:07 am

This:

http://www.amazon.com/Elements-Investin ... 118484878/

I read this a few months ago specifically to evaluate it for kids coming of age. Doesn't talk down, is compact, concise and easy to understand. I'd recommend as a first book for almost anyone regardless of age. Short, sweet and on point. You can preview the table of contents on Amazon to get a feel for it.

chaz
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Re: Recommended Reading

Post by chaz » Tue Aug 13, 2013 10:54 am

Also let them read the forum wiki.
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page

staythecourse
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Re: Recommended Reading

Post by staythecourse » Tue Aug 13, 2013 11:15 am

Most adults don't "get it" despite reading and being lectured through out their lives so not sure how kids will since they likely are not even interested at this age.

The best thing is to re-inforce the concepts yourself when opportunities come up. Kids do seemt to listen they just like to act like they don't like to listen. For example, "I know you want that pair of jeans, but if you take that money and save it and wait you can get the pair of jeans AND a belt because of the magic of compounding".

Good uck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

PB
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Re: Recommended Reading

Post by PB » Tue Aug 13, 2013 12:11 pm

+1 for Elements of Investing. Haven't read the updated version, but an excellent, concise first read IMHO.

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CABob
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Re: Recommended Reading

Post by CABob » Tue Aug 13, 2013 12:34 pm

I recommend one of Erik Tyson's Dummies books http://www.amazon.com/s/ref=nb_sb_ss_c_ ... Caps%2C366
Either Personal Finance, Investing, or Mutual Funds depending upon their specific interest.
The Boglehead's Guide to Investing is also very good.
Bob

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abuss368
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Re: Recommended Reading

Post by abuss368 » Tue Aug 13, 2013 12:35 pm

Three of my favorite books to recommend that I believe will not overwhelm folks:

In no particular order:

1) Straight Talk on Investing - Vanguard's former CEO and Chairman Jack Brennen.
2) The Little Book of Common Sense Investing - Jack Bogle
3) The Bogleheads Guide to Investing - Taylor, Mel, and Michael

You can not go wrong with any of these fine books on investing.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

The Wizard
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Re: Recommended Reading

Post by The Wizard » Tue Aug 13, 2013 12:38 pm

18 may not be old enough to matter yet, unless that person professes an INTEREST in this subject.
Assuming they go on to college, it's the first real job with decent income that matters.
Perhaps it won't hurt to have a discussion about the EVILS of credit card use and how one must pay off one's balance in full each month...
Attempted new signature...

bornloser
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Re: Recommended Reading

Post by bornloser » Tue Aug 13, 2013 1:00 pm

The book Millionaire Teacher is a quick easy read and I think applicable to the given ages. The book was recommended by a Boglehead and I read it and then passed it along to a graduating high school senior starting college this fall.

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