Comments on: The 3 Books That Changed My Financial Life Forever http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever Debt Kid - I'm Getting Out of Debt Sat, 21 Nov 2009 02:42:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: StockStalker http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever/comment-page-1#comment-19523 StockStalker Wed, 17 Jun 2009 06:22:53 +0000 http://www.debtkid.com/?p=3375#comment-19523 The one book that changed my view about money was not a book, but rather a very short e-booklet called "10 Unwealthy Habits", and it's yours as a free download at: http://www.changethis.com/27.06.UnwealthyHabits . The one thing, which stuck with me the most from the e-book was the fact that though money can't buy happiness, it can take happiness away from you (getting into debt from over-spending). Everyone should have a look at this e-booklet of about 20 pages, or so. The one book that changed my view about money was not a book, but rather a very short e-booklet called “10 Unwealthy Habits”, and it’s yours as a free download at: http://www.changethis.com/27.06.UnwealthyHabits . The one thing, which stuck with me the most from the e-book was the fact that though money can’t buy happiness, it can take happiness away from you (getting into debt from over-spending). Everyone should have a look at this e-booklet of about 20 pages, or so.

]]> By: Robert http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever/comment-page-1#comment-19347 Robert Wed, 27 May 2009 04:48:10 +0000 http://www.debtkid.com/?p=3375#comment-19347 I think that <i>Rich Dad Poor Dad</i>, is full of a lot of fluff, no offense personally meant to the poster above. The book that really got me to change the way I thought about money and make some financial goals for myself, was: <i>The 4 Hour Work Week. Great read. I think that Rich Dad Poor Dad, is full of a lot of fluff, no offense personally meant to the poster above. The book that really got me to change the way I thought about money and make some financial goals for myself, was: The 4 Hour Work Week. Great read.

]]> By: DD http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever/comment-page-1#comment-19340 DD Wed, 27 May 2009 00:15:13 +0000 http://www.debtkid.com/?p=3375#comment-19340 The only one to rock my world is "Your Money or Your Life." It actually changed my actions (for a couple of years anyways). But I've taken nuggets out of several others. "Rich Dad Poor Dad", "Millionaire Next Door" & "Total Money Makeover" to name a few. The only one to rock my world is “Your Money or Your Life.” It actually changed my actions (for a couple of years anyways). But I’ve taken nuggets out of several others. “Rich Dad Poor Dad”, “Millionaire Next Door” & “Total Money Makeover” to name a few.

]]> By: Benjamin http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever/comment-page-1#comment-19333 Benjamin Tue, 26 May 2009 01:58:38 +0000 http://www.debtkid.com/?p=3375#comment-19333 Rich Dad Poor Dad was the first book to really open up my mind to how I thought about money. From there, I have read many many many books and learned something from each one. The E-myth Revisited is one of my favorite books too as it teaches how to create systems instead of being the system. I am also a big fan of The 7 Habits of Highly Effective People, Mavericks at Work, and Economics in One Lesson. Check them out if you haven't read them yet! Great, fascinating books! Rich Dad Poor Dad was the first book to really open up my mind to how I thought about money. From there, I have read many many many books and learned something from each one. The E-myth Revisited is one of my favorite books too as it teaches how to create systems instead of being the system. I am also a big fan of The 7 Habits of Highly Effective People, Mavericks at Work, and Economics in One Lesson. Check them out if you haven’t read them yet! Great, fascinating books!

]]> By: Craig http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever/comment-page-1#comment-19323 Craig Fri, 22 May 2009 14:57:30 +0000 http://www.debtkid.com/?p=3375#comment-19323 Read "I Will Teach You To Be Rich" by Ramit it was the best book I could have read. I actually performed two actions he recommended while reading the book, so it directly helped me out a lot from just reading it. Read “I Will Teach You To Be Rich” by Ramit it was the best book I could have read. I actually performed two actions he recommended while reading the book, so it directly helped me out a lot from just reading it.

]]> By: Jim ~ mydebtblog.com http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever/comment-page-1#comment-19322 Jim ~ mydebtblog.com Fri, 22 May 2009 14:30:25 +0000 http://www.debtkid.com/?p=3375#comment-19322 The cow book sounds like what comes out of the cow (not talking about the beef either). Last time I checked I can still control my 401k and where my money is being invested. When you're young, mutual funds loaded with stocks produce income over a period of time. Later in life you have to start considering shifting to something safer to secure the growth during the prior 20 years of maturing. Many resources say invest 15% of your income, so if you can put up to 6% in a 401k and get the employer match, go for it. That still means 9% has to go somewhere else, like a Roth IRA or some other savings vehicle. I don't buy gold either because it's very expensive and the only ones making money are selling it, not buying it. Never put all your eggs in one basket, you can't go wrong with that one. Whole life is a good way to screw yourself later on. Since he seems to hate investing in traditional ways of course he wants a 'cash' vehicle like whole life. Term insurance, for 10 or 20 years is enough to get people covered should something happen to them during their prime earning years. You can get a term policy for way less than a whole life policy. Insurance isn't always about getting something out of it. When's the last time you got anything out of your homeowners/renters insurance? Do you frequently have accidents and use your car insurance? You want to read something that will really make you think about retirement, go check out "The Wisdom of Great Investors": http://www.nezperce.org/content/081024%20Davis%20Funds%20Wisdom%20ofGreat%20Investors.pdf The advice in this has far more value and common sense than anything you can read in a book. I trust the advice coming from people who have built wealth. The cow book sounds like what comes out of the cow (not talking about the beef either). Last time I checked I can still control my 401k and where my money is being invested. When you’re young, mutual funds loaded with stocks produce income over a period of time. Later in life you have to start considering shifting to something safer to secure the growth during the prior 20 years of maturing. Many resources say invest 15% of your income, so if you can put up to 6% in a 401k and get the employer match, go for it. That still means 9% has to go somewhere else, like a Roth IRA or some other savings vehicle. I don’t buy gold either because it’s very expensive and the only ones making money are selling it, not buying it. Never put all your eggs in one basket, you can’t go wrong with that one.

Whole life is a good way to screw yourself later on. Since he seems to hate investing in traditional ways of course he wants a ‘cash’ vehicle like whole life. Term insurance, for 10 or 20 years is enough to get people covered should something happen to them during their prime earning years. You can get a term policy for way less than a whole life policy. Insurance isn’t always about getting something out of it. When’s the last time you got anything out of your homeowners/renters insurance? Do you frequently have accidents and use your car insurance?

You want to read something that will really make you think about retirement, go check out “The Wisdom of Great Investors”: http://www.nezperce.org/content/081024%20Davis%20Funds%20Wisdom%20ofGreat%20Investors.pdf The advice in this has far more value and common sense than anything you can read in a book. I trust the advice coming from people who have built wealth.

]]> By: Moneychick http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever/comment-page-1#comment-19321 Moneychick Fri, 22 May 2009 13:39:14 +0000 http://www.debtkid.com/?p=3375#comment-19321 I love Larry Winget! I am not one to sugar coat anything, and am a believer in tough love so you can imagine that I watched his show every saturday when it was on. Money, to me at least, isn't a thing to take lightly and people in debt definately got lofty with their money (I know I did!). So, Larry basically smacks us back into reality. Don't take it too personally, just get back on track and follow his advice! Also I have the Killing Sacred Cows book. I wasn't too thrilled with it, as i'm not big on investing, but I think the key principle to the book that I do agree with is stop putting your money in with the stocks! Had he offered alternatives to where to use 401(k), I think I would have understood that book better. I also like Suze Orman's books/shows - she puts everything in simple terms and makes her advice "idiot proof". Granted there are some things people don't agree with, but not everyone's advice is fit for everyone. I love Larry Winget! I am not one to sugar coat anything, and am a believer in tough love so you can imagine that I watched his show every saturday when it was on. Money, to me at least, isn’t a thing to take lightly and people in debt definately got lofty with their money (I know I did!). So, Larry basically smacks us back into reality. Don’t take it too personally, just get back on track and follow his advice!

Also I have the Killing Sacred Cows book. I wasn’t too thrilled with it, as i’m not big on investing, but I think the key principle to the book that I do agree with is stop putting your money in with the stocks! Had he offered alternatives to where to use 401(k), I think I would have understood that book better.

I also like Suze Orman’s books/shows – she puts everything in simple terms and makes her advice “idiot proof”. Granted there are some things people don’t agree with, but not everyone’s advice is fit for everyone.

]]> By: MoneyEnergy http://www.debtkid.com/the-3-books-that-changed-my-financial-life-forever/comment-page-1#comment-19320 MoneyEnergy Fri, 22 May 2009 04:36:28 +0000 http://www.debtkid.com/?p=3375#comment-19320 Good looking books... I haven't read any of them! But as for the latter: money that sits in a savings account at a bank is definitely what banks want, but not for any conspiratorial reason - yes, they make profits off of it by re-lending it to others.... but those others also include businesses and people just like us... so, it sounds to me like he's either narrowsighted there or just taking a cheap shot to get attention with a pseudo-polemical point. In a bread and butter economy, there has to be savings sitting around in banks, or we end up with..... securitization, CDOs and all the other strange things that took the system down in Sept. 2008..... just saying this based on what I understand.... Good looking books… I haven’t read any of them! But as for the latter: money that sits in a savings account at a bank is definitely what banks want, but not for any conspiratorial reason – yes, they make profits off of it by re-lending it to others…. but those others also include businesses and people just like us… so, it sounds to me like he’s either narrowsighted there or just taking a cheap shot to get attention with a pseudo-polemical point. In a bread and butter economy, there has to be savings sitting around in banks, or we end up with….. securitization, CDOs and all the other strange things that took the system down in Sept. 2008….. just saying this based on what I understand….

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