One book for my neice, a young mom.

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Lazareth
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One book for my neice, a young mom.

Post by Lazareth » Mon Jan 14, 2019 10:23 am

My niece: a/34, married, f/t mother & RN, three children, husband employed 75K w/benefits. Recently purchased their home and now asks for investment advice. I've conveyed the principles of this forum and I would like to provide one simple book. I would appreciate your suggestions of such a book, written with the financially-intimidated (not the average bh) in mind...and ideally void of the usual repetitive self-promoting chapters. Thank you!

magicrat
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Re: One book for my neice, a young mom.

Post by magicrat » Mon Jan 14, 2019 10:35 am

https://www.etf.com/docs/IfYouCan.pdf

Very easy to digest and directs the reader on how / where to learn more should they choose to do so.

Howard Donnelly
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Re: One book for my neice, a young mom.

Post by Howard Donnelly » Mon Jan 14, 2019 10:46 am

The Millionaire in You, by Michael LeBoeuf, Ph.D. This is the book.

michaeljmroger
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Re: One book for my neice, a young mom.

Post by michaeljmroger » Mon Jan 14, 2019 10:48 am

I personally really liked “A Random Walk Down Wall Street”.

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ruralavalon
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Re: One book for my neice, a young mom.

Post by ruralavalon » Mon Jan 14, 2019 11:23 am

Lazareth wrote:
Mon Jan 14, 2019 10:23 am
My niece: a/34, married, f/t mother & RN, three children, husband employed 75K w/benefits. Recently purchased their home and now asks for investment advice. I've conveyed the principles of this forum and I would like to provide one simple book. I would appreciate your suggestions of such a book, written with the financially-intimidated (not the average bh) in mind...and ideally void of the usual repetitive self-promoting chapters. Thank you!
If You Can, by Dr. Bernstein for a very clear and concise introduction.

In addition The Bpgleheads' Guide to Investing, for something more comprehensive.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

Dottie57
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Re: One book for my neice, a young mom.

Post by Dottie57 » Mon Jan 14, 2019 11:41 am

ruralavalon wrote:
Mon Jan 14, 2019 11:23 am
Lazareth wrote:
Mon Jan 14, 2019 10:23 am
My niece: a/34, married, f/t mother & RN, three children, husband employed 75K w/benefits. Recently purchased their home and now asks for investment advice. I've conveyed the principles of this forum and I would like to provide one simple book. I would appreciate your suggestions of such a book, written with the financially-intimidated (not the average bh) in mind...and ideally void of the usual repetitive self-promoting chapters. Thank you!
If You Can, by Dr. Bernstein for a very clear and concise introduction.

In addition The Bpgleheads' Guide to Investing, for something more comprehensive.
+1

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Swee'pea
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Re: One book for my neice, a young mom.

Post by Swee'pea » Mon Jan 14, 2019 11:48 am

I gave my niece "Smart and Simple Financial Strategies for Busy People" by Jane Bryant Quinn.

SwitchActiveDWG
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Re: One book for my neice, a young mom.

Post by SwitchActiveDWG » Mon Jan 14, 2019 12:12 pm

The Intelligent Investor by Benjamin Graham
or
The Simple Path to Wealth by JL Collins

sthadani
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Re: One book for my neice, a young mom.

Post by sthadani » Mon Jan 14, 2019 1:35 pm

The Simple Path to Wealth by JL Collins

This has been hands down the best book on Personal Finance that I have read!!

Texanbybirth
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Re: One book for my neice, a young mom.

Post by Texanbybirth » Mon Jan 14, 2019 1:44 pm

magicrat wrote:
Mon Jan 14, 2019 10:35 am
https://www.etf.com/docs/IfYouCan.pdf

Very easy to digest and directs the reader on how / where to learn more should they choose to do so.
+1
Old Tom Bombadil is a merry fellow, | Bright blue his jacket is, and his boots are yellow. | None has ever caught him yet, for Tom, he is the master: | His songs are stronger songs, and his feet are faster.

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CABob
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Re: One book for my neice, a young mom.

Post by CABob » Mon Jan 14, 2019 2:06 pm

A personal favorite of mine is Personal Finance for Dummies by Eric Tyson.
Bob

Broken Man 1999
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Re: One book for my neice, a young mom.

Post by Broken Man 1999 » Mon Jan 14, 2019 2:41 pm

I think this is a great book for a beginner:

The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On with Your LifeApr 16, 2009
by Bill Schultheis

Concise, informative.

I've distributed a few to my family. Didn't make a bit of difference. No fault of the book.

However, since your niece has asked for help, hopefully she will be receptive to your suggestions. One can only try.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

bloom2708
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Re: One book for my neice, a young mom.

Post by bloom2708 » Mon Jan 14, 2019 2:54 pm

Boglehead's Guide To The Three Fund Portfolio - Taylor Larimore

If You Can by Bernstein is also worth a quick read.
“People don’t want advice, they want confirmation.” Unknown

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David Jay
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Re: One book for my neice, a young mom.

Post by David Jay » Mon Jan 14, 2019 3:05 pm

I have been looking for my "one book", and I think I am settling on Bernstein's "The Investor's Manifesto". It covers some things overlooked by other books, including a chapter on behavioral economics and one on the financial services industry.

I intend to recommend "If you can", if they read that and I will loan them a copy of The Investor's Manifesto.

The portfolio recommendations are a little bit dated (book was published in 2009), but I really like it as a single, very readable volume.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

staythecourse
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Re: One book for my neice, a young mom.

Post by staythecourse » Mon Jan 14, 2019 4:36 pm

Not sure it can get any easier yet complete then Allen Roth "How a second grader beat Wall Street."

Working, married, and 3 kids at home she doesn't have time for anything complex!

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

stoptothink
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Re: One book for my neice, a young mom.

Post by stoptothink » Mon Jan 14, 2019 5:01 pm

Texanbybirth wrote:
Mon Jan 14, 2019 1:44 pm
magicrat wrote:
Mon Jan 14, 2019 10:35 am
https://www.etf.com/docs/IfYouCan.pdf

Very easy to digest and directs the reader on how / where to learn more should they choose to do so.
+1
I've sent this to all of my employees and dozens and dozens of other people. For someone who knows nothing, it is an easily digestible start.

Austintatious
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Re: One book for my neice, a young mom.

Post by Austintatious » Mon Jan 14, 2019 5:13 pm

Investing Made Simple by Mike Piper

https://www.amazon.com/Investing-Made-S ... 0344303733

Click on the image of the book on the Amazon site and check out the table of contents. Simple, thorough and an excellent source for the relative beginner, in my view. A real bargain at $14

Austintatious
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Re: One book for my neice, a young mom.

Post by Austintatious » Mon Jan 14, 2019 5:15 pm

stoptothink wrote:
Mon Jan 14, 2019 5:01 pm
Texanbybirth wrote:
Mon Jan 14, 2019 1:44 pm
magicrat wrote:
Mon Jan 14, 2019 10:35 am
https://www.etf.com/docs/IfYouCan.pdf

Very easy to digest and directs the reader on how / where to learn more should they choose to do so.
+1
I've sent this to all of my employees and dozens and dozens of other people. For someone who knows nothing, it is an easily digestible start.
Yep, it makes for a very good start. I've sent it to my adult daughters.

nix4me
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Re: One book for my neice, a young mom.

Post by nix4me » Mon Jan 14, 2019 5:40 pm

A simple path to wealth - JL Collins

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JupiterJones
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Re: One book for my neice, a young mom.

Post by JupiterJones » Mon Jan 14, 2019 5:51 pm

I'll heartily second Personal Finance for Dummies (Tyson) and Investing Made Simple (Piper). Both are very Bogleheady. Tyson covers more ground beyond investing. Then again, Piper's trademark "short and sweet" approach might be just what you need for your niece.

And I'll add The Smartest Investment Book You'll Ever Read by Dan Solin. A bit longer than the Piper book, but not much. Also quite Bogleheady.

Coffeehouse is good, but it misses the top of my recommendation list due to all the slicing-and-dicing he eventually gets into.

I have not yet read A Simple Path to Wealth, but the excerpts look great, and I wouldn't be surprised if it winds up on a my standard recommendation list too.

Bottom line: If I had to pick one, I'd go with the Mike Piper book. It's great.
Last edited by JupiterJones on Tue Jan 15, 2019 3:02 pm, edited 1 time in total.
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Topic Author
Lazareth
Posts: 103
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Location: New England

Re: One book for my neice, a young mom.

Post by Lazareth » Mon Jan 14, 2019 9:10 pm

As the OP for this "one book" topic I thank each of you who replied. This is great information, just as I was hoping for. I'll be adding these to my reading list, and I now have a nice book idea for my niece. I trust that your thoughtful suggestions will be helpful to other bh's as well.

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