(Part 2) Reddit mentions: The best personal finance books

Sorry for taking a bit to get back to you, had to wait out a temp suspension because apparently I'm a jerk. Never be afraid or sorry to ask a question. The worse that can happen is someone won't answer or will get upset. Neither of these are bad.

It was actually more in total to pay off but that's the high point of the debt. What changed for me was over the course of a few years I went from making ~30K/yr to making over 100K/yr and not inflating my lifestyle. Which begs the question, how did that happen right?

It's completely reproducible, believe me I am not super special, but it did require a lot of planning and working towards a goal and quite a bit of luck. Some suggestions on how to make more money.

• Move if you can to somewhere with better prospects for higher pay. The absolute best way to do this is to have a crappy commute from a low paying area to a higher paying area. It's a kind of arbitrage. Just make sure you consider your commuting time as part of your overall pay. If it doesn't make sense dollar wise, don't do it. I've got a mostly telecommuting job now.
  
  
• Make yourself invaluable to your employer or customer. If you're working for an employer and doing more than is asked, document that and bring your achievements up when it's time for a raise. If you're self employed, do not undersell your worth. Make sure you take into account the Pareto principle and focus on the customers that make you the most money for the least amount of effort. You're working to live, not living to work.
  
• Get better at finances. Since you're here, I'm going to assume you've got a handle on the software part. YNAB is great, but it's not meant to be a complete tool. You need to know how to work with spreadsheets, and learn the basic math behind compound interest, interest rates, etc so that you can make them work for you.
  
  Listen I could, and probably should, write a book on going from dirt poor to comfortable. There are a ton of excellent resources out there. I'll list them here for you. I'm pretty sure I'm done with Reddit after this suspension deal (I only came back because I wanted to answer you :)) but I'll PM you some contact details if you're really interested. You can ping me any time you've got a question or even just for moral support. :)
  
  List of (what I think are) excellent resources:
  
  ^Note: ^I ^have ^used ^all ^of ^these
  
  

  Finance
  

  Radical Personal Finance - Excellent financial information. If you're Christian you will probably really love this guy. If you're not, it comes up a lot, but the information really is just amazing.
  
  The Millionaire Fastlane - This guy comes off as such a mook or a wiseguy, especially in the audiobook, but I've never heard someone explain why passive income is so important better. This is a self made guy who lays out how he made his money.
  
  Early Retirement Extreme - It's basically just his blog in book format, but it goes into how the numbers work. Maybe you aren't as extreme, but if you want to go extreme, this is an excellent guidepost.
  
  

  Personal Improvement
  

  
  Saylor Academy - Free education with an opportunity to get an inexpensive degree, or certificates. If you're an autodidact this place goes through some great courses.
  
  Ramit Sethi - This course is more than just finance it's how to save money, negotiate better wages, get better rates, and basically how to restructure your thinking to understand your own worth.

Take a look at the other comment I posted. It covers what some people might be feeling, but there could be other reasons for their behavior.

Maybe it's because of the circumstances in which you're talking to people. It could be your entire city or country. Maybe you're at a place where people don't like to talk or meet others. Maybe there's something distressing that they can't stop thinking about. Even the most charismatic person wouldn't be able to reach most people in those situations. So even if you think that nobody wants to hear what you have to say, there are lots of times where people don't want to hear what anybody has to say.

Maybe instead it has something to do with you. Maybe the things you tend to bring up simply don't interest other people. Or maybe people look at you, and without you even saying a word they already decide that they don't want to get to know you. What could you do to improve how you look or make yourself more interesting? I know that's stupid and shallow, but many studies have shown a stupid amount of benefits of being attractive and beautiful. Hot girls don't always talk about interesting things, but unfortunately they aren't hard pressed to find an audience regardless of that.

I know this all probably sucks to read, but it's great that you're working to grow and improve. And it should be noted that if you keep striving to talk to more people, you will surely find people who will gladly listen to what you have to say. Maybe a few of those listeners will turn into friends. But don't get down on yourself if they don't, most of them won't no matter how interested they are in what you have to say.

I'll end this with a couple suggestions. The first suggestion, as you might gather from the last paragraph, is that you should search for more people to talk to. Like I said in my previous post, this is an unhealthy type of relationship for you. I recommend that you meet more people. I read a book called Talk to Strangers: How Everyday, Random Encounters Can Expand Your Business, Career, Income, and Life, and while it's not a great book, there are a few gems in it. My biggest takeaway from it is that in order to confidently meet people you must believe in four assumptions:

1. The world is a friendly place
   
2. Everyone can be met
   
3. Almost everyone you meet can enhance your life in some way
   
4. You can enhance the life of everyone you meet
   I've found that believing in these assumptions really does motivate me to talk to strangers. The more you experiment with it, the better you get at it. Plus it will expose you to types of people that you might not otherwise interact with, which is beneficial in a lot of ways.
   
   I know this second suggestion will seem illogical considering the title of the post, but I can't recommend Just Listen: Discover the Secret to Getting Through to Absolutely Anyone enough. I fully credit it for every time I've met someone who seems to enjoy my company. In this post I've listed off a bunch of things that you might be doing wrong, but this book will explain to you how to do things right. It's made a huge difference in my interactions with people, and a lot of people I meet now think I'm charismatic. I fully credit that to this book. Now that I think about it, I'm going to start re-reading it tonight.
   
   Hope that helps.

Thanks for the reply. Not trying to start a confrontation, but rather I'm trying to gauge what you think about this whole thing in detail (since you and pretty much everyone else in this thread have been short on details).


>That's called an internship. Many skilled jobs have them.

Yes they do. And most of them are unpaid. I can't afford to work for free, even if it will increase my wages in the long term. In the short term, I will be homeless.

>Google, Microsoft, even my company offers paid internships for people interested in the fields that our respective companies need.

However, there are stipulations for paid internships. Certain requirements and criteria you must meet. Therefore additional training and education must be attained before hand, no?

Without that additional training and education, you don't qualify for these kinds of internships. Can't get that additional training and education without an income, this creating a catch-22 and making you stuck.

>There's also grants, loans, and scholarships that cover expenses during college years. You can even get a book that shows you tons of ones that you may not know about. http://www.amazon.com/Ultimate-Scholarship-Book-2016-Scholarships/dp/1617600709/ref=sr_1_1?ie=UTF8&qid=1463516571&sr=8-1&keywords=book+of+college+scholarships This makes college relatively inexpensive. Of course, if you want to make college even cheaper, go to a community college for 2 years, then transfer to a 4 year to finish out your degree.

Ah yeah! My wife is doing this.

Here's the problem- those scholarships, grants and loans also have certain requirements.

But even if you meet those requirements, you've still gotta pay the rent and bills. Those loans, grants and scholarships, in most cases, will not pay for that.

I don't have the priveledge of living with my parents and freeloading. So I would need a full time job, AND go to school full time. While not impossible, it's improbable for most people.

The only way my wife can do it is because I work as a truck driver and make decent money, so I can handle all of the basic expenses. Even so, she will still need a fat student loan on top of her grants and scholarships, because I simply don't make enough to pay for an additional 2 years at a university (but I make too much for her to qualify for anything).

BTW, my wife did go to a community college for 2 years first. We did this entirely out of pocket. It was killer for my budget, and really made things tight. Yes it's much cheaper than going to a university for 4 years, but it ain't cheap.

>Luck had ZERO to do with my success. I've been "stuck" in many jobs before. Jobs that I hated, needed, and couldn't afford to be without. I simply used my time after work to gain better skills through various methods, and applied for other, higher paying jobs. There's nothing preventing people from doing the same.

Luck had a lot to do with my success. Even things as simple as being at the right place at the right time or just so happening to have enough money in the bank on a certain date to acquire a liscence of some sort.

Hard work plays an important role as well, but that's not the whole picture.

People in subsaharan Africa are some of the hardest working people out there, but without any luck, they're still stuck.


> The story is about automation replacing minimum wage workers. This is absolutely on point with the discussion. You need to explain how that's a fallacy.

It's confirmation bias. Just because everything worked out for you, means that it can work out for everyone. That's basically your entire argument.



> Where's my fucking cookie!

Haha


> If you didn't get the skills you need for joining Job Corps, why didn't you try other places? Why didn't you ask others what they did? You didn't push hard enough forward.

Uhhh yeah I did. I gave 2 examples of what I did.

My point there was that government "training", in my experience anyway, is bullshit. Job corps wasn't my first state funded training program, but it was my last.

I didn't get any real training until I started paying for it out of pocket or through contracts.

I probably should've explained that better.

>And finally, you throw your hands up in disgust and give up.

No I'm still here. I just was waiting for you to reply in detail.

>Let me point you to a little video by our good friend Mike Rowe.

> https://www.youtube.com/watch?v=ooruG2zK1XY

> And here's the link he's talking about.

> http://www.holtcat.com/careers.aspx

Yeah that's basically what I did. Now I'm doing fine. I make good money as a truck driver.

I do want to note a couple of things about that second link-

129 jobs? That's not very many.

Also I noticed that many of those jobs don't list a salary range, which concerns me.


>So, tell me again how there's only 2 ways out of a blue collar worker job?

That's another fallacy. I just described two ways that I personally did it. It's pretty obvious there are more ways.

>If it was easy, people would find even MORE things to bitch about.
You want $15 an hour up from $9-$10 an hour, you better bring me that much more worth of "employee" to the table.

Tl; Dr Something something lazy millennial welfare Queens. Your argument completely broke down here.

Sorry man, but as someone who went from being homeless to working hard and making good money, you just have no idea how lucky you are. You completely take it for granted, and you look down upon those who may be working hard, but are stuck.

Do lazy people exist? Sure they do. There's plenty of people out there who don't have any aspirations beyond mc.donalds or jack in the box or whatever. But they're not nearly as common as you think.

EDIT- since you brought up minimum wage, I'm just gonna come out and say that IMO, local minimum wage should be 3x the price of a shitty studio in the ghetto. If that studio is $500 /mo, then minimum wage should be around $1500 /mo (assuming full time).

If it's $1000 /mo (like where I live), well, it should be higher.

Federal minimum wage should be enough to have a basic living standard in, say, the Ozarks.

Of course it never turns out that way, but I digress.

Glad to hear this.

Looking over the FAQ a bit more there's a lot there for you to ruminate on - and looking over the booklist, there isn't one that would fit an 'A to Z' money management approach (for you to get started on learning all the details you would need to get everything in order, including but not limited to retirement saving, insurance, wills and trusts, college savings etc.)

When I was a lot younger I got a lot out of 'Making the Most of your Money' by Jane Bryant Quinn, I see that there's an updated version out. I can't recommend the 1997 version I read, but it may be worth a look. Amazon Link.

But a classic, great read (that you can finish in just a few hours) is one that not a lot of people have heard of, much less actually put into practice. It has positively made a huge difference in how I view successful people, and how people can grow great wealth. It is making money the old fashioned way, by living on less than you earn.

The book? The Richest Man in Babylon by George Clason, on the FAQ reading list.

Best of luck in your adventure. I'll be dealing with a similar 'problem' within the next 5-10 years, won't share any more details than that.

Concerning your sister's FAFSA, is it possible your mother didn't want your sister filling it out because she's not up-to-date on her taxes? The FAFSA would require your sister to enter information from your mother's most recent tax return.

FWIW, when I was your age, I found out my parents didn't have the money to help me get a car. So I got a summer job, and after the entire summer, had only been able to save up ~$300. I managed to find a 1978 Ford Fiesta on Craigslist for $200, and was able to get it running for just under $100 in parts and tools. Meanwhile, it took a few more months before I could enroll in drivers school. I was nearly 17 by the time I got my license.

Around the same time, my parents informed me that they hadn't been able to save anything for my college, and if I wanted to go, I'd have to figure it out. My dad and stepmother did buy me this book: How to Go to College Almost for Free. I read it cover-to-cover and it was very helpful. I quit cross-country my senior year in high school so that I could devote all my time to working and filling out scholarship applications.

I ended up getting enough scholarships and grants to completely pay for my first year, most of my second year, and about half of the rest. It helps to find a school that has a lot of its own scholarship programs, as those are the easiest to get (universities actually use scholarships as a way to entice you to pick them). I took out student loans to cover the rest (also without a cosigner).

You're obviously a bright kid with your 4.0 GPA, so you'd be well served to start applying for merit-based scholarships.

Also, I took my first Advanced Placement course in 10th grade. I highly recommend doing all the AP classes you can handle. At the end of the AP class, you sign up for the AP exam, which is less than $100. If you pass, most schools will give you full credit for the corresponding course, which would have cost you hundreds or thousands to take at the university. By the time I graduated high school, I had 28 college credits, 24 of which transferred in, and knocked an entire year off my degree program. Because of this, I managed to get 2 degrees in the normal 1-degree timeframe.

You also might consider going to a community college for the first 2 years, and then transferring to your university of choice. The first couple years of college are typically general education and introductory courses that you can take at any community college for a fraction of the price anyway. Just look on your desired university's website to see which local community colleges' classes transfer (or call them and talk to an admissions advisor at the school if you're unsure).

I chose to go to a fully co-op school (if you're not familiar with cooperative education, check it out). A semester for us was 3 months in the classroom and then 3 months at a paid internship (which the university helped find) that counted as credit toward my degree. This helped me pay living expenses at college and gain valuable experience toward my career before even graduating.

Anyway, my point to all this is, it IS possible. You can do this. I know it seems like the cards are stacked against you, but this is exactly what makes you stronger. Believe it or not, in the not-too-distant future, you'll actually look back and get some sick satisfaction from the childhood you survived. My childhood was a bit rough, but it wasn't even close to what you're describing. For this reason, you can come out stronger than I did.

The world is not going to give you what you want. If it did, you wouldn't know what to do with it. You gotta take it. It's time to overcome the odds and make life your bitch, not the other way around.

P.S. If for some reason, 2 years from now, college just doesn't become a reality, please don't let it get you down. I have plenty of successful friends without a college degree. You just have to go out and make it happen.

P.P.S. What exactly do you mean, you don't know how to drive at all? You're obviously intelligent and internet-savvy. Look it up, take some online courses. Watch your mom and sister drive. There's honestly not much to it. If you're worried about driving a manual, look up how a clutch and transmission work, and it will make a lot more sense. I had always been a major car and engineering nut as a kid, so I had a pretty good understanding before I ever sat in the drivers seat, and it already felt natural the first time I did.

Hello,

You're a young guy, so don't be so harsh on yourself.

Not wanting to go to college and spend a huge investment isn't the worst idea. If you don't think you will get much out of it, it might just run you into the hole. That's valid, but if you find something you want to do- even if it's a trade I would go for it if your family will pay.

Regardless: A large number of my friends have either never gone/dropped out of college. Many of them are doing just fine, it's just a matter of personal drive and work ethic. If you have a drive to work, you will make your way in the world.

But before you spend that money on books about money: Hold up.

I think investing and making money is something possible for you, but I think it would have to be done with your own money on income from your own job. I do not think many major finance companies will hire someone without a degree, but that doesn't mean you can't profit from investing. A single Vanguard account and a ROTH IRA can do you well if you're making money (it requires an income but investments are made after tax so it can grow tax free) and give you some personal experience with the subject.

Investing, I think for you, might be best started there and then worked out with caution moving forward. Don't rush into it, and don't spend a ton of money trying to get people to tell you how they think it works, because most of them can't even beat the s&p 500 over the longterm.

Those wealthy people we all see on tv, the ones that made it big: For each one of those there were a million people that fucked up and lost everything. My advice, from a lifetime of fucking up and holding things together with duct-tape blood and grit: Don't try to be like them. If it happens, it happens. If you find a passion and run with it and end up finding success, that's kickass, but trying to force something like that is often more about luck and circumstances.

Find a job you can tolerate, focus on your passions in the time between, and let life take you where it takes you. If you're interested in money/investing, here are some things I've read that really made a difference on my life.

Bogleheads is where I would recommend you look first for investing/money knowledge.

Early retirement extreme
is a book I read a few years ago. It shaped my thoughts on money right as I was transitioning from a low paying job to a slightly less low paying job, and since then I've thought about it all very differently.

Vanguard information

Fidelity information - Also low cost to investors like vanguard

More specifically FI-RE related things (Online sources that might not be relevant to you but contain a lot of very good advice on lifestyle and investing/personal views that are interesting to read)

MMM

Living a FI

How much debt? Anyway, I'm with you - any amount is bad.

If she gets upset at you for giving good advice, I hate to say it but take it as a real cue about how long term your relationship is going to be - you're trying to help her and it doesn't sound like she respects your opinion, and it's not about a small insignificant thing. How she hands her money might affect you in the future because if you get married it will become your debt as well.

It also sounds like she feels like her options are limited and that piling on schooling will automatically result in success, regardless of the mound of debt that's accumulating. Maybe start by trying to talk to her about the motivation behind what she's doing, and where she things it is going to go. Sounds like she wants the easy path and doesn't admit to her failures.

On money, if it is the issue (I don't think it is) you might consider these books for her, which she could also take as a total slap in the face, but worth maybe a try:

https://www.amazon.com/gp/product/0310337429/ref=dbs_a_def_rwt_hsch_vapi_taft_p1_i2

https://www.amazon.com/gp/product/1937077594/ref=dbs_a_def_rwt_bibl_vppi_i1

https://www.amazon.com/gp/product/1937077977/ref=dbs_a_def_rwt_bibl_vppi_i1

​

Also, consider attending Financial Peace University (https://www.financialpeace.com) together. Tell her it's something you're interested in, and you'd love it if she attended with you as a couple. I'm sure you'll hear plenty of other people talking about student loans and how they were saddled with debt. Maybe it would help her to hear from other people's stories.

You have a narrow mindedness about you, but I'll see if I can help clarify things for you:

1. That's called an internship. Many skilled jobs have them. Google, Microsoft, even my company offers paid internships for people interested in the fields that our respective companies need. There's also grants, loans, and scholarships that cover expenses during college years. You can even get a book that shows you tons of ones that you may not know about. http://www.amazon.com/Ultimate-Scholarship-Book-2016-Scholarships/dp/1617600709/ref=sr_1_1?ie=UTF8&qid=1463516571&sr=8-1&keywords=book+of+college+scholarships This makes college relatively inexpensive. Of course, if you want to make college even cheaper, go to a community college for 2 years, then transfer to a 4 year to finish out your degree.
   
   
2. Luck had ZERO to do with my success. I've been "stuck" in many jobs before. Jobs that I hated, needed, and couldn't afford to be without. I simply used my time after work to gain better skills through various methods, and applied for other, higher paying jobs. There's nothing preventing people from doing the same.
   
   
3. The story is about automation replacing minimum wage workers. This is absolutely on point with the discussion. You need to explain how that's a fallacy.
   
   
4. See answer 1.
   
   
5. Where's my fucking cookie!
   
   
6. If you didn't get the skills you need for joining Job Corps, why didn't you try other places? Why didn't you ask others what they did? You didn't push hard enough forward.
   
   
7. And finally, you throw your hands up in disgust and give up. Let me point you to a little video by our good friend Mike Rowe.
   
   https://www.youtube.com/watch?v=ooruG2zK1XY
   
   And here's the link he's talking about.
   
   http://www.holtcat.com/careers.aspx
   
   So, tell me again how there's only 2 ways out of a blue collar worker job?
   
   If it was easy, people would find even MORE things to bitch about.
   
   You want $15 an hour up from $9-$10 an hour, you better bring me that much more worth of "employee" to the table.

I would recommend that you get a good estate planning lawyer now. They can help you understand more and potentially advise you on what you would like to ask of your father. I also highly recommend this book: http://www.amazon.com/Beyond-Grave-revised-Gerald-Condon/dp/0060936312

An experienced lawyer will have "seen it all" and be able to help you know what pitfalls to look out for about children, trusts, and inheritances. My personal bias is towards keeping the trust distributions limited until a later age (40+), but you'll need to get your father on board with that. We once had a poster here whose trust wasn't released until age 55. I think encouraging your children to establish a career, at least, before they can tap into the money is a good idea. I've definitely known people who never really figured out what they wanted to do with their life because they didn't have to do anything. On the other hand, some people can be really self-motivated and level-headed. But I think more of this has to do with individual temperament than any amount of parental influence can have.

Don't be upset with the people here. Many find your situation laughably easy because they are already living for much less than it costs you. However I'm sure you are earnest - you are looking over the edge of a cliff and need to know if it's safe to jump.

The house value is meaningless unless you plan on moving so you can just ignore the whole thing in your calculations. With your invested net worth, you can safely spend $22k per year for the rest of your life (well ~99% probability). If you used the 4% rule for a 95% success rate, you could spend $29k per year.

I wouldn't hold onto the 2.8% loan. Sure it's a good interest rate, but you don't need the leverage. This article should help you visualize the effect of leverage. Making it your last action of work to pay it off would probably smooth out the road a bit. I'd have a talk with your father and tell him that you are getting ready for retirement and you'd like to pay it before you finish.

I'd say that you can't FIRE quite yet unless you are willing to cut expenses. Can you reliably live off of $1800 a month in your budget? That's not a spending level that's objectively difficult, but it may take some getting used to.

What you can do right now is to start bringing your expenses down and practice living off of the amount you would have if you were FIRE. If you need to burn some vacation to have some free time to simulate the cost savings from being home, do it. Doing the trial run right now will tell you more than years of playing with calculators.

You should go ahead and start working on kids. 35 is already pretty old for having children. The chances of conceiving go down, the chances of birth defects go way up. It may take a while for your wife to get pregnant. The reason why I suggest this is that you'll be able to take FMLA leave when your child is born, which will help with the next step.

After you've got the trial run handled, you go ahead and jump in the pool by taking a leave of absence. If it's paternity leave, your work can't legally stop you from taking 6 weeks. Otherwise, you should be able to negotiate some type of leave (perhaps 4 months?) while you take a "sabbatical." You'll know that this is your retirement, but they won't. If the first try at retirement doesn't go well, you can just go back to work when your sabbatical or paternity leave is done.

I'd recommend you read the book Get a Life: You Don't Need a Million to Retire Well. It covers a lot of subjects you wouldn't really think about going into retirement.

I highly recommend reading The Wealthy Renter: https://www.amazon.ca/Wealthy-Renter-Choose-Housing-That/dp/145973646X

Re: "paying rent for nothing" - You're always paying some form of 'rent'. To be super simplistic "Rent" is payment made for the use of something.

1. If I'm renting a house, the math is pretty obvious... my rent is whatever rent I pay, plus any utilities or insurance. My principle form of rent is the literal rent and is paid to the landlord.
   There's no investment I get from it, it's just money I pay to use the space.
   
   
2. If I'm buying a house, the math is less obvious. My rent is a combination of the financing interest, utilities, taxes, and maintenance+condo fees. Usually for schmucks like us the principle form of rent is financing interest (and condo fees) and is paid to the bank (and condo corp).
   There is also an investment I get from it - the mortgage principal payment, and any gain/loss in the value of the home.
   
   
3. If I own a house with no mortgage, I'm still paying rent. In this case, I'm paying the same utilities/taxes/maintenance fees as in #2, and I have another primary rent cost: opportunity cost.
   So for example, if my house is worth $300K, instead of having that $300,000 in an investment account making a conservative 5% annual compound return, I have it tied up in an asset (the house). The math is complicated and assumption laden, but in this scenario the simplest calculation of my opportunity cost rent is ($300,000 x 5% return / 12 months = $1250 per month).
   The investment I get from this is any gain/loss in value of my asset (aka house).
   
   Sorry if that seems a bit pedantic, but I think it's an important linguistic distinction because we're always told (usually from our parents' generation) "don't pay someone else's mortgage with your rent". But the reality is that we always pay rent no matter what. What actually matters is being smart about the numbers and understanding your own assumptions and risk tolerance/comfort levels. I find most people who own really don't know their actual full cost of ownership or their 'rent' cost, but think it's worthwhile information to figure out and think about.

Some people say education is the best long-term investment.

So continue to learn about finance, living frugally, and really concentrating on your education until you can start developing a portfolio of assets. This is knowledge that will make you a lot of money summed over your lifetime. I waited until I was 24 before I started reading up on saving/investing/financial planning/FIRE. I wish I'd learned it all when I was your age (see Investopedia). I'd have focused much more on collecting income-earning assets and experiences, rather than wasting all my money on short-lived liabilities (like new cars or games I didn't really need).

Literally the most important thing to an investment is time. The earlier you start, the better, due to compound interest. As a rule of thumb, very low risk investments should probably be earning you 2%-5% interest per year (e.g. loans and government bonds, introductory savings offers) and riskier investments (e.g. stock market exchange traded funds) should be returning 7% - 8% per annum averaged over 5-10 years. Company-matched pension contributions are amazing, and make you thousands per year. These should be maxed out if you ever get the option. And then you avoid expensive debt (credit cards, payday loans) like the plague. Anything earning less than 2% AER makes you a few euros a year and is essentially pointless.

There's a book called Rich Dad, Poor Dad. The gist of it is that rich people are taught to build assets over their early working life. The first one is education. Then you could be writing a book, getting constant royalties from it forever (did this). Or you could make an online course (doing this), host an online service, get a lodger (doing this), rent your parking space, or rent out property or storage space. Then you can stop trading your time for income (because your time is always finite and so your earnings will always be linked to how much time you forfeit). Instead, rich-thinking people build a portfolio of assets that make them money. There's another book called The Marshmallow Test, which essentially discusses that smart people tend to be able to delay their own gratification in order to be richer in the future (although a bit of an oversimplification). Anyone can retire early and live out their hobbies; they just need to start saving and investing early and diligently.

It also really helps to really learn how to deal with windfalls of money that you weren't expecting. Most people tend to splurge on unnecessary things, then it becomes a habit. To start, here is the UK Personal Finance flowchart. I'm not sure if there is one for Germany.

I have a small amount of CC debt but I was able to get a consolidation loan, this made my payments more manageable and the pay-off date and overall cost are now way lower than they would have been. This could be done through some third party lender but I would start with where you know first for options. If you have a bank I would start by there, they may even have someone that specializes in this kind of financial assistance. If you have access to a credit union they may even be more help than a bank's financial advisers. You can always call the credit card company directly and discuss debt management options. It may also be helpful to look at some debt relief programs or reference materials. I've always found Dave Ramsey's plans for financial planning to be straight-forward and effective. Here's a link to a Ramsey book that covers debt-relief and saving/investment, his main concept for debt relief is a "snowball" plan - pay off the small stuff first and once paid off use that extra many for the next largest balance and so on.

Good Luck!

Honestly, yes. You're not the first person who wants to start a business and there are programs (here in the US, anyway) at the full Uni level and at lower levels like community colleges (not sure the Aus equivalent) that don't break the bank but still give you an education.

The thing is, in the 21st century, if you don't have a degree, you will have trouble getting a job. Not saying it is impossible, but just high school isn't good enough anymore. A great way to learn about business is to work in one, and you'll be limited in the types of jobs you can get (and thus, learn) if you don't go to uni.

You can get scholarships, you can get grants. Put your energy and ambition into getting your uni degree for free. People have done that, like this guy.

and for what it is worth, I'm getting an MBA with a concentration in entrepreneurship and innovation. I'm learning a lot!

yes, but I strongly recommend you read: http://www.amazon.com/The-First-National-Bank-Dad/dp/0743204808 first.

There's an essential thing to keep in mind: interest rates are too low and time horizons too long to actually make it possible for young people to "Get" saving at an early age. The solution to this is obvious, affordable and fun for everyone: just open your own "bank" and then pay your kids ridiculously unsustainable interest on every dollar they save (up to a limit). 1% per month. hell, 1% per week.

it teaches them math, you can afford it on small amounts of money and it gives them the opportunity to learn something about compounding at a rate they can relate to.

strongly recommended.

If you are in great shape, healthy, happy and have great relationships with your kids and great ties to your community, then your retirement is going to be awesome with or without a lot of money. If you lack those things, then no amount of lobster dinners is going to make if fulfilling.

There are diminishing returns to your happiness when compared to your income. Those returns may even be negative if you are spending your time doing something unfulfilling to earn money that won't increase your happiness.

You should read the book Get a Life: You Don't Need a Million to Retire Well There are certainly things you can do to improve your retirement, but they may not be in the realm of earning more money.

Also, you imagine that your retirement life is going to to be one big adventure where you travel all over and do all kinds of interesting things. I'd wager that you'll be sick of it in a year. Have you even tried doing it for a few months? If you can, why don't you try doing it now and see if it's something that you are willing to do for the rest of your life? I suspect that getting a house, taking care of grandkids and coaching the local little league is going to be more fun than endless nights on a sailboat.

I too came from a home situation where finances were very tight but I married (30 years ago) a beautiful young woman from a wealthy family. However, she was never taught how to handle money either.

I found the book Rich Dad, Poor Dad to be helpful and check out /r/financialindependence as someone else already suggested. My wife and I and our family made out quite well despite having to figure it all out on our own.

Good luck!

The answer is because robots can't do all the work without the work of humans to install, monitor and create new more efficient ones. The fact you even think robots make shoes and farm today, is alarming. Humans do that with the aid of machines. What are you thinking you are going to do all day? Sit around while robots take care of everything? I think this is a big reason people gravitate towards socialism. They can't compete in capitalism due to lack of drive to offer good others want, so they only consume, and sit around feeling entitled to more things they didn't invest in. Go out, take the risk to be an entrepreneur to create a product and sell it at a reasonable price that people buy it so you can make some money. Stop being a worker, be a creator.

​

Better yet, read Rich Dad Poor Dad and find out what you were not told, so you can become prosperous.

​

https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1543626610

It actually sounds like you're doing pretty well. Consider a credit union instead of a bank, and look for a safe money-market fund or high-interest savings like ING Direct for your emergency fund. The advice below of paying off the higher-interest loan first is sound.

Useful links:

http://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/0470506938/

http://www.amazon.com/Your-Money-Life-Transforming-Relationship/dp/0140286780

http://www.reddit.com/r/frugal

As I noted in a comment in another thread...

---

>What lies at the intersection of /r/financialindependence and /r/mgtow?

A nifty little book called "Bachelor Pad Economics" that I recently ran across -- and there's also a (cheaper) ebook version -- seems to sum it all up (i.e. MGTOW + Financial Independence, etc.). He pretty much outlines (after the fact) what I followed for a plan in the 90's and 00's.

BTW I'm like Mr. Magwitch, basically frugal and (more or less) "retired" in my early 40's; debt free with house paid off, investments that (in part because I was no longer doing a commute/day-job) I was able to pull from the stock market at the 2007/2008 "peak" and then bought back in at basically the bottom -- and which generate more than enough to pay my minimal living costs (no wife, no EX-wife, no kids, & free from wife & kid-led consumer/status trap = cheap living).

Moreover, that was achieved after only about a dozen years of working & saving (and 8 years paying off the house, buying the vehicles, building the workshop addition, etc) -- that dozen years prior (early 30's) I was deep in debt due to a failed business (went out a bit too far on that limb, had to climb my way back out), and without a proverbial pot to piss in (not even a functional vehicle for about a year).

Note that I said "more or less retired" because I do still engage in some occasional consulting contracts, as well as "working" on hobbies and various volunteer things -- but basically I'm doing those things because I want to (I really only take consult contracts that I think are "interesting" or unique in some way and where I expect to have fun as well as make some extra cash) -- I am NOT doing any of those things to eat or have a roof over my head...

And I am definitely not feeding any brats (much less some F's crotch spawn).

---

BTW Forgive the repost of above the comment, but why rewrite the same thing again? Figured I'd post this as a separate thread to get the book some more exposure. (And no... I am not the author and don't make a penny from this recommendation, not even Amazon link-based stuff.)

Could check out: https://www.amazon.ca/Wealthy-Renter-Choose-Housing-That/dp/145973646X

TLDR: renting is typically cheaper in the long run than purchasing a home/condo, with greater freedom. Theres more to it than that, definitely give it a read.

I'm personally living at home just because my family home is better than anything I could afford.

Scott Adams is a big Trump guy. He talked about how great Trump is throughout the last presidential campaign and then wrote a book about how smart and persuasive Trump is that was a best seller in 2017. Basically he thinks Trump is a genius at marketing and he talks about it a lot.

Tja. En smideskurs i silver eller en smedkurs är toppen. Du ska verkligen pröva. Det är väldigt roligt och du kan tillverka saker som du kan ge bort. Det ger hög tillfredsställelse. Tänk att du ska försöka göra något regelbundet. Dvs gå till ett ställe där det finns folk som brinner för något som du själv gillar. Då är det lättast att hitta polare.

Om du är den som pratar om andra personer så är det ju inget hinder att bryta lite tankemönster. Genom att uppleva saker så hittar du något annat att prata om som du säger. Tänk såhär: "Vet du vad jag råkade ut för på stan. Kramade en kompis och då sa hennes mamma att hon också ville ha en kram, men sedan gick hon därifrån och det visade sig att hon inte var hennes mamma, utan bara en tant som gick förbi!" Vips så har du levlat i din konversation. :)

När det gäller backpacking så är det ypperligt att åka själv. Jag vet att det är näst mardrömslikt att göra det själv. Men jag LOVAR att du kommer inte ångra dig om du gör det. Se det som "exponering" en utmaning utan dess like. Om du inte kan motivera dig, gör det bara för att kunna prata om det sedan. Så tänkte jag när jag gjorde lumpen! Fungerade skitbra. Börja borra lite på nätet. Chatta lite med folk på forumet mm. http://www.backpacking.se/ tror jag stenhårt på. Kanske till och med kan hitta resesällskap där.

Baka är king det med. När du en gång blir inbjuden till något, ta med dig något du bakat. Typ en snygg burk med kakor, eller en toscakaka etc. Det gör att du sticker ut från alla andra och det flockas folk till. :)

Här är en länk till det som min polare hoppade på: https://www.facebook.com/charismaticrevolution Det är mer inriktat på att hitta en partner. Men det är så mycket mer.

Läs lite böcker som uppvärmning: Bok 1, Bok 2
Dessa böcker kickar upp din förmåga supermycket. När du pluggat på lite, gå ut och testa. Du har ju aldrig något att förlora. Visst det kommer vara obekvämt, hjärnan skriker av rädsla, men det är som att köra bil. Plötsligt så är inte bilen ute och kör med dig utan du kör bilen. Hjärnan adapterar och förändrar sig.

1. Couch potato investing is an investment strategy that favours passive longterm sustainable growth of your investments through a buy-and-hold strategy. Eiiy-2 already linked to the definitive blog for doing Couch potato investing as a Canadian.
   
2. I think that the best introduction to life insurance is Stop Over-Thinking Your Money! by Preet Banerjee. The first and last chapter give you a great overview of the why and the what of insurance. Borrow it from the library if you have to (that's what I did), but I strongly recommend this book for those who have no idea about insurance.

Banks and advisers from organizations like WFG are essentially just sales people for products. They aren't going to help you manage your money. Luckily, there's a wealth of information out there to help you do this, mostly for free. You will be surprised to learn that managing your money really comes down to very basic principles that can be hard to stay committed to.


Try checking out some of these great subs:
r/ynab
r/personalfinance
r/startups
r/entrepreneur


Also, you can check out these books. They sound gimmicky but they really do have good information about managing your money:
Rich Dad, Poor Dad
The Millionaire Next Door


If you're looking to hire someone, as others have pointed out look for a Certified Financial Planner, not an adviser.

Spend $14.64 of your $200 on this: Personal Finance For Dummies. Don't be turned off by the name, it is excellent. After that you'll have a better idea of what you should be doing.

Second, figure out what you want to do work-wise and go after it. There's only 3 types of questions that are asked in a job interview:

1. Can you do the job?
   
2. Do you like the job?
   
3. Can we stand working with you?
   
   I suggest you work on question 2.

Not specifically on point, but you might consider the classic Extraordinary Popular Delusions and the Madness of Crowds or the works of the great anti-psychiatrist Thomas Szasz (in particular Ceremonial Chemistry).

The Wikipedia page on moral panics has a lot of good links.

And seriously consider taking a junior or community college class in personal finance.

Also: there's good books on personal finance that are highly recommended.

1. Personal Finance for Dummies by Eric Tyson
   
2. The Road to Wealth by Suze Orman
   
3. Making the Most of Your Money by Jane Bryant Quinn
   
   Find out when Suze Orman's show is on your local PBS station and watch the fuck out of that show. She cares a great deal about the little guy and knows the typical traps that novices fall into.

The For Dummies series of books are actually pretty good for fundamentals as well. You might like this one:

https://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/1119517893

Here is a good reference: http://www.amazon.com/The-First-National-Bank-Dad/dp/0743204808

We do this with our kids. The kids can spend or save whatever they want. The Bank of Dad pays 5% per month. This teaches them that delaying gratification pays off. And they learn what it's like to make bad decisions, which is a great thing to do when they are little and the stakes of bad choices are pretty low.

Other books I might suggest that are helping me keep more of my income include:

America’s Cheapest Family

Cut your Grocery Bill in Half

MoneySmart Family System great for seeing how to teach financial education to your kids.

Love Your Life, not Theirs

The principles in these are helping my situation a bit. I’d check overdrive or your library for copies.

Its from a book called Bachelor Pad Economics by Aaron Clarey (the one who is on the front page currently). The quote is a bit out of context, so here is an excerpt of the relevant section:

http://www.2shared.com/document/BUbJMvYy/



I think what Clarey is trying to say is the better you get, the harder your search is to find an equal or somebody you want to spend your time with. It's not necessarily an either or game either. You can focus on the pursuit of excellence and later if you want a family, focus on that.

> worth almost $47 billion in liquid cash would agree

This is incorrect. Liquid cash is a number you can get from an ATM or walk into a bank and ask for. His wealth is tied to stock investments in mostly Microsoft and Berkshire Hathaway.

> You need to take a chill pill, get back on your medication, and take off that fucking tin foil hat.

You need a book.

The recommended section is just a treasure trove of amazing garbage:

Ben Shapiro

Mike Thernovich

Vox Day

This dumbass

The_Alinsky_fearer has logged on

Trump as a soviet worker

Sharia law is coming to your chipolte

The adventures of Hitler

Scott Adams: Failing is actually success

> No major debts except a mortgage, but I'm a complete newb with money.

You're doing fine, keep it up!

This is a great starter: https://www.amazon.com/Dave-Ramseys-Complete-Guide-Money/dp/1937077209

Most people borrow too much and use credit cards they can't pay off the same month and get buried. Just don't do that and you're 15 years ahead of most people.

For insurance and investments, there are SO MANY to pick from it's dumb to take advice from people who don't know your goals, background, history, etc.

the ussr never attempted to even adopt proper communism. There is an incredible book called "The most popular delusions and madness of crowds" it pretty much outlines how the ussr was able to use the guise of communism to take control. Hope and Fear my droogs. Hope and fear.

EDIT: it's actually ['Extraordinary Popular Delusions and The Madness of Crowds'] (http://www.amazon.com/Extraordinary-Popular-Delusions-Charles-Mackay/dp/0486432238) thanks! u/Aut0graph

It's not directly about the administration, but Win Bigly is an excellent read.

Hey, thanks for the book recommendation! I’m always looking to add to the list, and this one has all sorts of acclaim, so I’m looking forward to it.

On a more somber note, I hope that others who read this thread take note of how charitable and thoughtful you are being - something sorely missing from the current state of American political discourse. You’re setting the right example and it’s a damn shame that it’s become so rare a thing that I felt the need to make a point of it.

This book can best explain how we can see things so differently about Trump

Please start your education early with the books that they will never introduce you to!! Here's a good start:

• Rich Dad, Poor Dad
  
• The Art of the Deal
  
• Still the Best Hope
  
• Righteous Indignation
  
  With this knowledge, no liberal will be able to fuck with you!

I recommend reading Stop Over-thinking Your Money by Preet Banerjee, a good chunk of which discusses how the various types of insurance work and how to figure out your needs so you don't get sold something that isn't right for you.

This depends on whether you prefer the approach of Scott Adams or that of Jordan Peterson. Scott is an unapologetic sophist, where as Peterson believes in always telling the truth, even if he is wrong about a few things.

>have the monsters meet in the middle

You really oughta read that book I linked. Evopsych, not Scott's. His answers on the subject of libertarianism are actually different and more complex than the ones I gave you, but that will be half the fun.

Personal Finance for Dummies

https://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/1119517893/ref=mp_s_a_1_3?keywords=personal+finance+for+dummies&qid=1568165153&s=gateway&sprefix=personal+finance&sr=8-3

Investing for Dummies

https://www.amazon.com/Investing-Dummies-Eric-Tyson/dp/1119320690/ref=mp_s_a_1_3?keywords=investing+for+dummies&qid=1568165219&s=gateway&sr=8-3

Same author. I read the older version of Investing for Dummies by the same author something like 15+ years ago. I did not read the personal finance one, but the investing book will put a lot of things into perspective for you. It really would be great if these were studied in highschool and\or college. Always get the latest version. They update it for current tax law. The general ideas are always the same.

Pay down debt or avoid incurring it. No investment is 100% except paying off debt. Don't buy more than you can afford. Diverse mutual funds are good. Pre-tax 401k is good.

> They have no difficulty whatever in countering a fact by a lie which, if repeated often enough and loudly enough, becomes accepted by the people.

I just finished reading Scott Adam's Win Bigly: Persuasion in a World Where Facts Don't Matter — I just returned it to the ChattLibrary system, so it's available for checkout, if anybody is interested. It's largely about why Trump won, even when sometimes his hyperbole gets the best of him. Whatever your political leanings, this is a great book: just like the author, I am socially-liberal (pro-choice, 420-friendly) and fiscally-conservative (see my comment history).

Stop Over-thinking Your Money!: The Five Simple Rules Of Financial Success by Preet Banerjee

To be an investor, you first need to be a saver.

Not sure how closely people here follow him, but Scott Adams (the creator of Dilbert) writes at length on this subject and is beloved by Trumpsters for it. His most recent book (which is literally subtitled Persuasion in a World Where Facts Don't Matter ) has already become a sort of secondary bible to the crowd who thinks that subverting, manipulating, and denying reality are skills to be celebrated.

First National Bank of Dad

http://www.amazon.com/The-First-National-Bank-Dad/dp/0743204808

Good tips include:

• paying high interest to keep them... interested
  
• give them allowance but charge back if you have to do their chores

I've enjoyed this one. The book contains a lot of good arguments for renting and discusses buying vs renting in major Canadian cities

It's actually 'Extraordinary Popular Delusions and The Madness of Crowds'. It's very, very good.

I was going to echo this comment. OP, suggest he has a look at e.g. Personal Finance for Dummies.

Basically setting aside a decent portion of what he makes now is work 7 figures by the time he retires, which is not the case for the same amount set aside in his 40s or 50s. That money now is gold later on. So he needs to plan for paying corporate taxes and then personal taxes and finally invest as much as he can.

I would say set some aside to invest in growing the business and then whatever he takes home, invest as much as possible in long term (retirement) plans. Of course, spend some on the current necessities, but don't go too wild yet. A tax advisor and financial planner can help (e.g. how much to invest within the company vs how much to pay himself in salary or dividends which will all have different tax implications. Retirement plans are generally tax deferred, so that helps too.

Thanks for the recommendation! Are you referring to this book?

I think the problem is that Amazon is only giving me html style aff links. I need the simple ones that look like this: https://www.amazon.com/Win-Bigly-Persuasion-World-Matter/dp/0735219710/tiborthechechen

A lot of people (most people) graduate high school or even college without knowing how a credit card really works, or a loan, or taxes. Also, saving is not a cultural value, and for good reason. The largest industry in the US is the financial industry, which is constantly marketing / propagandizing people to spend and borrow, spend and borrow.

There is a reason this book exists, which is that our schools don't teach financial literacy or independence, and our culture doesn't value financial independence, and so if you don't learn it from your immediate family, you probably don't learn it at all.

Couple that with decades of wage stagnation and increasing education and health costs, and it's not surprising that most people in their 20s don't have expectations of financial independence or even retirement, let alone early retirement. If everything you experience tells you that it's not possible, and that your savings won't matter, you are going to spend more now and enjoy life while you can.

Yes

https://www.amazon.com/Win-Bigly-Persuasion-World-Matter-ebook/dp/B06X1DWK4Q

This is part of the basic premise of the new book Win Bigly: Persuasion in a World Where Facts Don't Matter, by Scott Adams. It's essentially making a strong argument that politics is dominated by people who cannot see their own biases and therefore facts don't matter to them, and why/how Trump's persuasiveness was so effective at convincing the small percentage of the population that's open to both sides to vote for him. It's not about his lies, all politicians lie, but it's his unique technique and skill in communication.

Start here. It's a good start.

EDIT: here's one review:
Every young man needs to read this book. All the advice one needs to know when moving out of the parent’s house: college, dating, budgeting, spending, financial planning, and being a success in Obama’s Socialist America.

The reader will experience shock and dismay at what has become of our economy and the ‘modern woman.’ This isn’t your Dad’s, or Grandfather’s America, sonny. Those days of finding a quality woman, raising a family, having a successful career with just one or two employers is just about impossible. Pursuing those endeavors will most often result in failure and financial ruin.

This is 512 pages of advice. Most are lessons the author has learned the hard way. Young men: read this so you can navigate the terrain of the new, transformed, America. Read it to learn from someone else’s mistakes!

Has anybody read his new book "Bachelor Pad Economics?" Looks like it has a caricature of Roosh and some other people on it:

http://www.amazon.com/Bachelor-Pad-Economics-Financial-Advice/dp/1494463180/

Leverage. Loans. Financing.

I recommend some reading: https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194/ref=sr_1_1?ie=UTF8&qid=1506001245&sr=8-1

Maybe check out the wealthy renter if you feel like your wasting your money renting. https://www.amazon.ca/Wealthy-Renter-Choose-Housing-That/dp/145973646X

Bachelor Pad Economics: The Financial Advice Bible for Men
=

Pretty much everything you need all in one (big, fat, long*) book.

---
* But don't fret about the size, you don't HAVE to read the entire thing all at once, or even all in your youth -- much of the advice it contains is for middle-age & later years (like "estate planning" i.e. how to structure what & how what's left goes to kids, or friends, or whoever after your dead, etc) -- and the author guides you as to what parts you SHOULD read (or focus on) depending on your age & situation (education/career status, marital state, present financial condition, goals, etc).

Lift. Don't get fat. Learn a martial art. Don't get married young. Probably don't marry at all if you live in the western world. Don't be afraid to walk away from a girl. Don't be afraid to put yourself first. Make a plan for your life and keep those goals in mind. Find something you;re passionate about and incorporate it into your life. Bachelor Pad Economics has some good advice on not getting your financial life fucked.

Believe it or not, Personal Finance for Dummies by Eric Tyson is not at all bad.

Your paying too much for auto insurance, I have a DUI as well (fuck the CHP), and on your cell phone.

Get some cheap birth control from Planned parrent hood, they do that shit for free (USA government pays for it in actuallity).

I would suggest buying Rich Dad Poor Dad.

It is a bit pricey at $8, but it is written for your demographic.

https://www.amazon.com/gp/offer-listing/1612680194/ref=sr_1_1_olp?ie=UTF8&qid=1509903532&sr=8-1&keywords=rich+dad+poor+dad

Itse kuuntelen kirjoja aina kun kävelen tai matkustan jonnekkin. Saa senkin ajan hyödynnettyä.

En tiä minkälaisia kirjoja tykkäät lukea, mutta itse tykkään markkinointi, yrittäjyys aiheista.

Rich dad poor dad on ihan ykkössuositus yrittäjyydestä ja "contagious", sekä "influence. Psychology of persuation" markkinoinnista.

https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1543626610

https://www.amazon.com/Contagious-Things-Catch-Jonah-Berger/dp/1451686587

https://www.goodreads.com/book/show/28815.Influence

In his book Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Robert Kiyosaki says something like, "Tax law punishes those who earn their income as employees while rewarding those who earn income as investors."

You insure assets, not liabilities. The primary income earner of the household is an asset, and should be insured for both death and disability.

Your child is a liability, given they don't earn income and you pay for their upkeep. If your child dies, there will be an immediate cash requirement for their burial, etc, and you could insure for this if it will be challenging for the family finances.

Can I recommend "Stop Overthinking Your Money" by Preet Banerjee

Edit:link repair

Early Retirement Extreme by Jacob Lund Fisker http://earlyretirementextreme.com/ and his book is the most profound thing I've ever read for finances https://www.amazon.com/Early-Retirement-Extreme-philosophical-ebook/dp/B0046LU7H0/.

It's this gormless drivel about ["persuasive masterminds"] (https://www.amazon.com/Win-Bigly-Persuasion-World-Matter/dp/0735219710/ref=asap_bc?ie=UTF8)

You should check out First National Bank of Dad.

You need to read Beyond the Grave. I remember that it dealt with your type of situation.

I recently bought Bachelor Pad Economics: The Financial Advice Bible for Men, what's your thoughts on it? I'm completely new to finance and my goal is to retire before I'm 100 y/o.

> https://www.amazon.com/dp/B06X1DWK4Q/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

In a triple redundant EMC drive array in Iowa.

Did you see that Based Dilbert Merchant has a book coming out about all this?

https://www.amazon.com/dp/B06X1DWK4Q/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

You’re right about that

Get her the book:

https://www.amazon.com/Love-Your-Life-Not-Theirs/dp/1937077977

https://www.amazon.ca/Wealthy-Renter-Choose-Housing-That/dp/145973646X/ref=asc_df_145973646X/?tag=googlemobshop-20&linkCode=df0&hvadid=292905515425&hvpos=1o1&hvnetw=g&hvrand=9132666439524070042&hvpone=&hvptwo=&hvqmt=&hvdev=m&hvdvcmdl=&hvlocint=&hvlocphy=9001444&hvtargid=pla-436372549143&psc=1

Jane Bryant Quinn's book is the bible of personal finance. My father gave me a copy when I graduated from college. It's 1200 pages of dense print, and it covers everything.

Check out the book National Bank of Dad where the author tells strategies on how to teach children saving skills.

Depends on the individual. In Rich Dad, Poor Dad the recommendation is to go bankrupt before your 30.

If you don’t, or don’t come close you’re not taking enough risk and most likely won’t become wealthy.

Win Bigly: Persuasion in a World Where Facts Don't Matter is a good place to start.

Estate attorneys have incredible bags of tricks up their sleeve.

You might want to get granddad a copy of Beyond the Grave, a book about estate planning gone wrong that gets mentioned a lot on Bogleheads. Then find a stand-up attorney who can help minimize estate hassles that you and your parents will have to deal with someday.

I think there's a direct correlation to lower IQ and degrading quality of debates. Trump is suggestive proof of this. I think [Scott Adams] (https://www.amazon.com/Win-Bigly-Persuasion-World-Matter/dp/0735219710) explained it best.

Also, read "Rich Dad, Poor Dad", please.

Wrong. Facts don't matter for persuasion.

You're simply unaware of how the human mind works. Every cognitive scientist understands the phenomenon I'm describing.

> Paul Krugman

Krugman Predicting Market Failure

Krugman Predicting Clinton Win

Scott Adams predicted a Trump Win, and that the markets would react favourably.

> I am aware has no specific education in economics,

School

BA in Economics
Hartwick College

MBA
Haas School of Business
University of California at Berkeley

> nor has he ever had any work in those fields published,

economics, or statistics:

• Teller
  
• commercial lender,
  
• budget supervisor
  
• Budget and financial analysis
  
  Politics
  
  
• https://www.amazon.com/Win-Bigly-Persuasion-World-Matter/dp/0735219710
  
  New York Times Best Seller.
  
  > His track record is terrible. We've established this beyond doubt. Do try to keep up.
  
  Terrible compared to what? Krugman?
  
  > The position that Jordan Peterson is an idiot is already well publicized.
  
  By whom?
  
  > What issue? That Jordan Peterson is an idiot?
  
  Yeah sure; lets have a broadcast debate about that. We can put it up on youtube.

Unfortunately he's also an author.

http://www.amazon.com/Bachelor-Pad-Economics-Financial-Advice/dp/1494463180/ref=pd_sim_b_2?ie=UTF8&refRID=1VC5EZQW2N1WSNRBP1J0

I read Rich Dad Poor Dad. I didn’t agree with all of what he said, but most of it made a ton of sense

Everyone works on savings that are really bad, and really in the end are just okay.

You need to focus primarily on investments that generate passive income.

Make money work.

Rich Dad, Poor Dad by Robert Kiyosaki

Não tens de agradecer, my pleasure. Assim de repente, alguns clássicos e outros livros que possam ser úteis:

- Rich Dad Poor Dad

- One Up on Wall Street

- The Intelligent Investor

- Everyday Millionaires

- Your Money, Your Life

- Side Hustle

- Motley Fool for Teens - não leves a mal ter escolhido a edição "for teens" - é só porque é um excelente guia para quem está a começar e vai investir quantias pequenas só para molhar o pé. Se quiseres algo mais completo, tudo o que é do Motley Fool (incluindo o site, newsletters e podcast) é bom.

Em português não conheço muito e o único que me vem à cabeça é este do Pedro Queiroga Carrilho.

I know I wrote this before, but I want to drive this point in: Read the book The Richest Man in Babylon. The take away from this book is how to have a broader mind on stressful financial situations and techniques on very common problems.

But on the stressful worries of absolution, you should read both Rich Dad, Poor Dad and Think and Grow Rich. These go more into the emotional intelligence of financial woes as well as some techniques on dealing. Be careful of book 3 though. It's very strong and has dark advice also.

You've contrived an absolutist situation that for some reason you believe to be true. I can't convince you out of this, even though the truth of the matter is that there are situations that have leeway. Rent is one of them. The 2nd and 3rd books go into detail about this.

I feel that you've mentally trapped yourself in a set of "what ifs." These are self worries that disable us. The 1st book explains this well. The 2nd just drives is why, and the 3rd is more what you should do while doing that.

Simply put, you're creating rules to restrict yourself. I get everyone wants to have a high standard on stuff, but those ideals of fronting detract from actual progress.

Are you serious? Have none of you been paying attention to Trump and Scott Adams?

Persuasion! Branding techniques, motherfucker! HAVE YOU HEARD OF THEM?

As soon as you say 'libtard', you lost: You are acknowledging them as a "liberal retard."

1. Labeling them "liberal." Good fucking job. What the hell did I say above?
   
2. Used "retard" as an insult. Now you're an asshole.
   
   How the hell are you going to get people to take your side with "libtard?" Now read a goddamn book.