• Best financial books to improve your financial health

    by Badgley Phelps | Oct 21, 2022

    According to a recent survey from NerdWallet, 40 percent of Americans feel that their financial health is worse today than pre-pandemic. That makes now a great time to brush up on tips that can help improve your personal balance sheet. Here are six books our financial planners have found helpful.

    For women investors

    Smart Women Don’t Retire—They Break Free: From Working Full-Time to Living Full-Time by The Transition Network and Gail Rentsch

    Rich in practical advice and stories from women who have successfully navigated a wide range of opportunities, this read is a blueprint for women seeking a whole new set of life choices. This book is particularly relevant now since women control an increasing amount of wealth in America.

    For retirement planning

    The Number: What Do You Need for the Rest of Your Life and What Will It Cost? by Lee Eisenberg

    Here, you’ll find a look at resources people will need at retirement in order to enjoy the active life they desire, especially post-career. Eisenberg translates The Number into commonsense advice that resonates across a wide spectrum, allowing people to have greater understanding of how much money they need to retire while still maintaining their lifestyles.

    For parents

    The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money by Ron Lieber

    The foundation of this book provides a detailed roadmap for the best ways to handle financial opportunities and needs of children, teens, and college students. The Opposite of Spoiled is also a promise to our kids that we position them to manage money better than we have. Read more about raising financially fit children.

    For legacy planning

    Family Wealth—Keeping It in the Family by James E. Hughes Jr.

    This read includes principles and practices for family governance and joint decision making. It highlights ideas on developing character and leadership, inspiring creativity and enterprise, and helping all family members find and follow their individual callings.

    For personal finances

    Your Money or Your Life by Vicki Robin and Joe Dominguez

    Our financial planners tout this as a go-to book for changing your relationship with money, whether you’re just beginning your financial life or heading toward retirement. This makes a great gift for anyone you’d like to empower to take and keep control of their personal finances.

    For everyone

    The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel

    This popular book explores the ways people think about money and teaches readers how to make better sense of one of life’s most important topics. Housel explains how behavior is a critical overlay for financial and personal success.

    Reading financial books can not only empower us to make better choices in our financial lives and improve financial fitness, but it can also help reduce stress in times of uncertainty.

    Want personalized planning advice? Contact us.

 

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