Finance
Page 3: Books and Video
Page 1: Overview
Page 2: Read More
Page 3: Books & Video
Page 4: Glossary of Terms
Page 5: Resources & Quotes
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NOTE* Some of these books will contradict one another (example “Rich Dad Poor Dad” and “Dave Ramsey Total Money Makeover”) yet I find value in both. Some even contradict themselves at times. Can conflicting view points both be useful and even correct? Yes
The Dave Ramsey book is more appropriate for most people, especial people with bad habits while the Rich Dad Poor Dad is for a more disciplined audience.
Example Contradiction:
Debt free vs utilizing debt properly. Should you buy a $43,000 car cash or finance at 0.9% interest rate? Generaly speaking you should take the low finance rate and invest that money which will return a much higher rate than 0.9% in the long run. That rate is lower than standard inflation target of 2% and much lower than this ridiculously high inflation rate in 2022. But each individual’s situation is unique with many factors to consider (including risk & stress). Right or wrong I’ve done both, dependent on circumstances at the time.
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money – That the Poor and Middle Class Do Not! By Robert T. Kiyosaki, read by Tim Wheeler https://amzn.to/3nSHuvH
RICH DAD POOR DAD Summary by The Swedish Investor
“I think The Intelligent Investor is the best book on investing ever written..”
Warren Buffett
The Intelligent Investor Rev Ed. by Benjamin Graham read by Luke Daniels https://amzn.to/3v12OBk
In this book we learn concepts such as Dollar Cost Averaging and that drunken irrational fool Mr Market.
THE INTELLIGENT INVESTOR SUMMARY by The Swedish Investor
Warren Buffett How To Invest For Beginners: 3 Simple Rules by FREENVESTING
Humorous description of the Mr Market analogy starting at 1:50 mark
Warren Buffett on Mr Market
“Most people react the wrong way to stock prices… They think the stock market is there to instruct them.
And Mr Market is this partner you have in investing. He is a remarkably obliging parnter.
This guy comes around every day and he tells you what he’ll pay you for your interest in the business or what he’ll sell you more at the same price.
Nobody ever does that in private business….You’d be at a terrible disadvantage.
And you’d be at a particular disadvantage if you’re Mr Market because Mr Market… This guy is an alcoholic manic depressive, he is as unsound as they come… he is going to name all kinds of crazy prices and you don’t have to pay any attention to him except when it’s to your advantage. That’s once a year or once every 5 years, 1 stock out of 3,000.
All you have to do is sit there, you have no moral responsibility to this jerk. He is naming these numbers, you didn’t ask him to but he’s doing it and all you have to do is pick the one time when he is particularly depressed or particularly manic or particularly drunk or whatever it may be.. and you take advantage of him.”
Warren Buffett
The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel read by Chris Hill https://amzn.to/38wWz0M
THE PSYCHOLOGY OF MONEY Summary by The Swedish Investor
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns, by John C Bogle 10th Anniversary Edition https://amzn.to/3JcRXJQ
The Little Book of Common Sense Investing by John Bogle Summary by Chris Invests
Money: Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins read by Jeremy Bobb https://amzn.to/3LAQn6a
Top 5 takeaways from Tony Robbin’s MONEY: Master the Game by The Swedish Investor
Books on the frugality approach
The Millionaire Next Door: The Surprising Secrets of America’s Rich by Thomas J. Stanley & William D Danko, read by Cotter Smith https://amzn.to/3CVlRiF
THE MILLIONAIRE NEXT DOOR SUMMARY by The Swedish Investor
The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey https://amzn.to/37k0LjE
THE TOTAL MONEY MAKEOVER SUMMARY by The Swedish Investor
Less frugal approach
Use with caution and a critical mind but there are very many good eye opening concepts explained in this book. See some quotes here https://www.kevingittemeier.com/books/
The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich (Expanded and Updated) by Tim Ferriss https://amzn.to/3LLbtik
THE 4-HOUR WORKWEEK ANIMATED BOOK SUMMARY by FightMediocrity
THE 4-HOUR WORK WEEK Summary by the Swedish Investor
Videos and YT Channels Regarding Finance
- Youtube Channels:
- Kevin Gittemeier: it’s not about finance but subscribe anyway!
- Charles Schwab: https://www.youtube.com/charlesschwab
- Vangaurd: https://www.youtube.com/vanguard/
- Fidelity: https://www.youtube.com/Fidelity
- TD Ameritrade: https://www.youtube.com/user/TDAmeritrade
- Investopedia: https://www.youtube.com/investopedia
- The Rich Dad: https://www.youtube.com/c/TheRichDadChannel
- Principles by Ray Dalio: https://www.youtube.com/principlesbyraydalio
- The Ramsey Show – Highlights: https://www.youtube.com/user/DaveRamseyShow
- Ramsey Everyday Millionaires: https://www.youtube.com/RamseyEverydayMillionaires
- The Swedish Investor: https://www.youtube.com/TheSwedishInvestor
- Next Level Life: https://www.youtube.com/NextLevelLife
- Chris Invests: https://www.youtube.com/ChrisInvests
- Videos:
- Investing Basics: ETFs by TD Ameritrade: https://youtu.be/kqr-h-pmky4
- Traditional Vs ROTH IRA Which Should You Choose https://youtu.be/fQMU4UuJSBc
- 4 Reasons You Should Consider A ROTH IRA by NLL https://youtu.be/wUxB32W2zGs
- TSP Explained How to Rollover TSP to IRA by NLL https://youtu.be/Q-1o0o428BQ
- Charles Schwab Platform Videos:
- Schwab’s Trading Tools & Platforms: https://youtu.be/sqqmY8I8gxU
- How To Open Charles Schwab Account by Justin Conroy: https://youtu.be/o_3434T-9CU
- Charles Schwab FULL Platform Tutorial by Mike Plymale https://youtu.be/v85mLIx3hJg
- Charles Schwab Trading Platform Tutorial by Jake Broe: https://youtu.be/CZsiRomcUeE
- Charles Schwab Mobile Trading App Tutorial by Jake Broe: https://youtu.be/jKRzUR8rPVA
- Schwab Stock Slices Tutorial by Jake Broe: https://youtu.be/K0gXexNHb-s
The Most Valuable Financial Asset You Will Ever Have | Importance of Financial Literacy / Intelligence
Traditional Vs ROTH IRA – Which Should YOU Choose? By NLL (2018)
MAGI, Roll ins, Back Door & Inherited explained
4 Reasons You Should Consider A ROTH IRA by NLL (2020)
Tax Deferred vs Post Taxed Investing – Running the Numbers
“How The Economic Machine Works by Ray Dalio”
An excellent video explaining how the economy operates.
“Principles for Dealing with the Changing World Order by Ray Dalio”
Principles For Success by Ray Dalio https://youtu.be/B9XGUpQZY38
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Page 1: Overview
Page 2: Read More
Page 3: Books & Video
Page 4: Glossary of Terms
Page 5: Resources & Quotes