My name is Kinthalis and ::hangs head down in shame:: I don’t know what a Roth IRA is, how the stock market works/how to invest in it, or how to develop a short and long terms savings/retirement plan.
Help me!
What books would you guys recommend to someone like me - a total newb trying to prepare for things like buying a home, having a family, retirement, etc?
I’ve been navigating the alleyways of commerce using this book I got from a little guy I met briefly at a sci-fi convention. But I can’t make heads or tails of all these rules of acquisition. And who is this nagus guy anyway?
Not a book to read but a good website to browse through is BANKRATE. They have a big glossary section and lots and lots of articles and a variety of topics. As well as current typical loan rates and finance calculators.
When you feel like you’ve got a firmer understanding of the basics of investing, different investment types, etc., I’d highly recommend The Intelligent Investor.
I second this. In general I HATE the Dummies books – hate hate hate – but Eric Tyson knows his stuff. Ric Edelman is also a pretty good source, lots of good info on his web site. His books get a bit repetitious, but picking up one of the basic ones isn’t a bad idea. Stay far, far away from Dave Ramsey – he’s not bad on some of the basics, but he’s an angry, judgmental hardass.
You could also start listening to Sound Money on public radio; this is what got me started.
The Suze Ormand books are kind of “Personal Finance for Dummies”.
You might also try websites like www.motleyfool.com
I would avoid Robert Kiyosaki’s books (Rich Dad Poor Dad, etc) as critics widely regard him to be full of shit.
