I need a good book on investing and saving for 25-30 yr olds?

Question

Hello all,

My boyfriend is just getting into investing and I am worried that he may not know what the best options are for people our age. I am usually the one who gives him advice on things, but I admit that I don't know much about money matters, and I keep hearing contradictory information about investing as well. Does anyone know a really good book that I can buy him that will cover saving and investment options and best practices for 25-30 year olds? He is working now and also plans to go back to school for an MBA, and I don't want his money worries to get in his way. Thanks!

Answer 1

For saving I would recommend: "The Millionaire Next Door" - this will change the way you look at money and spending.

For investing: "The Little Book that Beats the Market" - a great short read on value investing.

For online investment advice, I think the best thing is to see what the best investors are buying and selling. You can find this information at http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas. There is also a charting feature , so you can see how your portfolio performs compared to the S&P 500.

Here are this month's best traders:

http://www.top10traders.com/Top10Standings.aspx

Good luck.

Answer 2

Hi, I think it's about risk tolerance. If you go to the library and just get a book on basic finances (like what's a mutual fund etc..the Wall Street Journal has some beginner guides that they update pretty frequently) that will start pointing you in the right direction abet stocks, mutual funds, real estate etc. I'm 24 and I found a lot of great resources on line. about.com has some great free resources and you can sign up for newsletters. Personally, my best practice is setting a goal (like I want to save X amount of $ by the end of the month) It's an ideal time to stock pile (especially if you don't have kids). Max out the 401k and get a subscription to something like money magazine (they offer some pretty sound advice).

Sorry it's not a "one" book approach..but the world of investing is always changing and you want up to date accurate data.

Answer 3

Try the book "The automatic millionaire : a powerful one-step plan to live and finish rich" by David Bach. It's a really good book that shows how investing small amounts automatically in different areas can make you rich in the long run.

Answer 4

Look up the work of some of the legends, Jack Dreyfus and Bernard Baruch comes to mind. There are many others. Unfortunately, you won't find any of them on YA. In fact, I'm starting to think that it might be under the "investing" topic you'll find the most fools and naive, stupid people congregating on YA. No shortage of huge egos though. "BB" btw. named his autobiography My Own Story. Truly worthwhile reading if you have an ounce of humility? And are able to open your mind and learn from one of the all time greatest masters of the investment field.

Answer 5

well as a start, i will recommend him to consult a financial advisor/planner instead of going alone. That will save him much stress and time. They'll be much better trained and be able to advise accordingly.

If he really wants a book to read, "The Intelligent Investor" by Benjamin Graham is a good book to read though it may be quite tough.

Answer 6

i like the dummy series
mutual funds for dummies
investing for dummies
stocks for dummies

they lay it out pretty well for beginners,