Books like The Truth about Money
The Truth about Money
I read this a few years ago, but the recent market turmoil made me pick it up again. This is one of the most comprehensive personal finance book you can find. Edelman covers everything you might be interested in: bonds, stocks, mutual funds, real estate, insurance, etc. Everything is clear and to the point, but Edelman doesn't insult your intelligence. He is not afraid to get deep into the math underlying the theories like diversification, compound interest, and others. There is also none of the rah-rah stuff you find in most personal finance books. Edelman is blunt and to the point, which gives his book plenty of credibility. One of Edelman's themes is that "money has changed," meaning the old way of simply putting money in a savings account and relying on a pension or social security is no longer sufficient for a secure retirement. Of course, since Edelman wrote this book, money has "changed" again. His advice about money market funds is certainly out of date. Still, Edelman's basic advice-always save, stay away from credit cards, don't spend your $$ on little luxeries that add up faster than you realize-is more timely than ever