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What We Are Reading

As part of our role as educators, we understand the importance of continuous education.  Reading is a great way to continue learning, and while there are thousands of books written on finance, we know that with limited time we can only hope to read a few.  Here you will find a number of books which we have read and think you might find interesting as well to continue your financial education.

The Intelligent Investor: The Definitive Book on Value Investing

One of the greatest investment advisors of the twentieth century, Benjamin Graham taught and inspired people worldwide. This revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines and gives readers a more thorough understanding of how to apply Graham’s principles of value investing.

Your Money Matters: 21 Tips to Achieve Financial Security in the 21st Century

One of the best-recognized names and faces in the financial advice world reveals how to greet the new century with money in your pocket. This book by Jonathan Pond breaks new ground by taking a human look at meeting life’s financial challenges. Pond’s tips present important lessons essential to achieving financial peace of mind and new ideas for prospering in the new century.

Simple Wealth Inevitable Wealth

With nearly 200,000 copies now in print, Simple Wealth, Inevitable Wealth is one of the most successful privately published books on any subject in the last fifteen years.

The new, extensively revised fifth edition (January 2013) refreshes and updates the book through the serial crises of the last few years – highlighting both the resilience of equities and the inestimable value of the advisor who functions as the antidote to panic.

You’ve Lost It, Now What? How to Beat the Bear Market and Still Retire on Time

This book has a feisty and easy-to-understand style that gives you a road map for the years ahead. It takes you step-by-step through the process of rebuilding your investments and explains how after reaching retirement you can squeeze the maximum out of your savings.

Bogle on Mutual Funds: New Perspectives for the Intelligent Investor

This book explains the various investment markets and different types of mutual funds (bond, stock, balanced, money market, etc.). It tells you how to understand and evaluate risk and gives advice on how to construct an investment program for whatever purpose you may have in mind. It also gives advice on how much risk is prudent for different investment time horizons.

The Richest Man in Babylon

A collection of parables written in the 1920s, this book is a timeless, inspirational work. Great advice on the subject of thrift, financial planning and personal wealth, that is just as sound today, as it was 80 years ago.

Your Money or Your Life: Transforming Your Relationship With Money and Achieving Financial Independence

This is a best-selling book on how to get control of your money and your life. The authors help you take a look at how you handle your money, and whether it is a reflection of your values.

The Millionaire Next Door

Contrary to what many may believe, most millionaires are not flashy. This book gives you a good look at the profile of a typical millionaire, how they got there, and how you can learn from their habits. Who knows, you might even become the next Millionaire Next Door.

Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in Your Life

This is a book that searches for the spiritual meaning in wealth, and tells the stories of three composite characters throughout the book. You learn how to evolve through the seven stages (innocence, pain, knowledge, understanding, vigor, vision, and aloha) necessary to achieve financial and emotional security. Named as “one of the most influential people in the financial planning industry” (Investment Advisor magazine, June 2003), George is the founder of The Kinder Institute of Life Planning, a personal empowerment and training organization that offers the highly-acclaimed Seven Stages of Money Management Workshop.

A Random Walk Down Wall Street: The Best Investment Advice for the New Century

This is an investment classic, originally published in 1973. It has just been updated, and now takes into account the dot-com meltdown. Among other topics, Malkiel gives an entertaining history of past market bubbles, and explains why it’s not worth trying to beat the market. There is also a life-cycle guide to investing in the market.

The Number: A Completely Different Way to Think About the Rest of Your Life, and What Will It Cost?

The often avoided, anxiety-riddled discussion about financial planning for a secure and fulfilling future has been given a new starting point in;THE NUMBER: A Completely Different Way to Think About the Rest of Your Life, and What Will It Cost;by Lee Eisenberg (Free Press; January 10, 2006). The buzz of professionals and financial industry insiders everywhere, The Number represents the amount of money and resources people will need to enjoy the active life they desire, especially post-career.

The Investment Answer

Gordon Murray, who spent his career working as a Wall Street insider, learned that he had but six months to live. Collaborating with his own advisor, Dan Goldie, he wrote a book that was the story he wanted everyone to know. The result is a well written, easy to understand guide that cuts through the jargon and describes the essential five decisions that everyone needs to make — how to make sound investment choices for life.

The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money

The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money makes the undeniable connection between the human condition and irrational financial decision making. Carl Richards uses simple analogies and clever cartoon-like drawings to define what he calls “the behavior gap” or the distance between what we should do and what we actually do. When it comes to investments, we are too often overwhelmed by emotions such as fear and greed. As a result we are driven to take actions that are not always in our best long-term interest. If we know intellectually that we should buy low and sell high, then why do investors so often do the opposite? Richards explains this behavior in a way that is both simple and elegant.

The Quest For Alpha

The debate on active investing-stock picking and market timing-versus passive investing-markets are highly efficient and almost impossible to outperform-has raged for decades. Which side is right? In The Quest for Alpha: The Holy Grail of Investing, author Larry E. Swedroe puts an end to the debate, proving once and for all that active investing is likely to prove futile as the associated expenses-costs, fees, and time spent analyzing individual stocks and the overall market-are likely to exceed any benefits gained.

Investors are on a never-ending search for a money manager who will deliver returns above the appropriate risk-adjusted benchmark, aka the “Holy Grail of Investing.” The Quest for Alpha: The Holy Grail of Investing, demonstrates that it’s a loser’s game-while it’s possible to win, it’s so unlikely that you shouldn’t try.

Tap Dancing To Work

Carol Loomis’ collection of the best Buffett articles Fortune published between 1966 and 2012, including thirteen cover stories and a dozen pieces authored by Buffett himself. Loomis has provided commentary about each major arti­cle that supplies context and her own informed point of view. Readers will gain fresh insights into Buffett’s investment strategies and his thinking on management, philanthropy, public policy, and even parenting.  

 

The Financial Wisdom of Ebenezer Scrooge

Ebenezer Scrooge would seem an unlikely source from which to glean financial wisdom: He was a wealthy man who kept his living quarters cold to save shillings and lived a reclusive existence because he worried someone would take his money. However, Dickens’ classic tale of how Scrooge found his true course in life is a powerful model we all can benefit from today.
Unlike other financial planning books that focus narrowly on the “dollar and cents” of money, The Financial Wisdom of Ebenezer Scrooge is an easy read. Written for the layperson, this book provides advice that is simple, transformational, and timeless.

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