Comments on: The two personal finance books that changed my life

By: Tony Masters

Tony Masters — Mon, 21 Jul 2008 19:11:52 +0000

‘Work Less, Play More” by Steve Caiden

and if you can find it “How to Retire at 35″
by Paul Terhorst were the two that hit home for me.

Also agree on ‘YMYL’ but don’t like RDPD

Also Tom Hodgkinson’s “How to be Idle” and
‘Freedom Manifesto’ for humor and contrarian thought.

By: Hannah

Hannah — Mon, 03 Mar 2008 05:41:27 +0000

I’ve bought a used copy of YMYL and I’m on my way to reading RDPD. What’s really interesting is that every one of your posts make so much *sense* to me… it’s so refreshing. This month was the first time in my life that I started venturing into reading about PF and perusing finance blogs on my own. I’m so glad to know that I’m not alone in valuing efficiency and FI over just “being normal.” I’ve gotten a lot of stares and outright attacks from my friends, none of who understand what the point of thinking outside the box is. They think FI is a pie in the sky ideal, and happily max out their credit cards and buy frivolous things with money they don’t have. Well, it turns out (I recently took a Myer Brigg test) I’m an INTJ, and we INTJs tend to favor what “works” over what the majority is content to do. Heh, maybe there is some correlation to being an INTJ and having an FI mentality? I know that INTJs are supposed to be the most independent personality out of the entire pack…

Anyway, glad to know I’m not alone!

By: Jacob

Jacob — Mon, 18 Feb 2008 22:07:43 +0000

@antishay - I got a bunch of “frivolous/unnecessary” things as well. I don’t think that is a problem as long as they are acquired with some consideration. It’s when we buy things just to buy (retail therapy) or because the novelty wears out too quickly that there is a problem. In terms of enjoying things, I have a (mechanical) watch fetish. Now these babies typically retail (used) for more than $2000, so so far I have just gotten my enjoyment from window shopping and books and from buying a simple manual 30mm omega seamaster from 1961 and having that. I would like to get an IWC Mark XII or XV some day .. or the 1969 Speedmaster. Someday … I’m kinda like Wayne and the Fender in Wayne’s World that way. It shall be mine … oh yes … it shall be mine.

By: antishay

antishay — Sun, 17 Feb 2008 07:25:00 +0000

… and now I know why your posts all call so loudly to me! We’re both INTJs. How wonderful.

I love both of these books. And I’m right with you in how you think - I prefer concepts. Dave Ramsey’s 7 Baby Steps are great, but I don’t need the steps to get to my own wealth. I get the idea - I got it the first 10 minutes of his show. I prefer to think about broad ideas and then break them down into their individual implications on… well, everything.

Perhaps this is why I feel we see eye-to-eye. Although, I admit I will always live with a couple pairs of unnecessary heels in my closet. I won’t live at your level of self-sufficiency and non-consumerism. My time is extremely valuable to me and therefore I do outsource some things I could do myself. And I like buying things (not just to buy, but I do enjoy buying beautiful and interesting things). For me, though, it’s all about the art and expression of the things, not the HAVING, that brings me joy. Many people criticize women for their love of fashion and their enormous closets, but for me fashion is art and a huge part of my life. For this, I will always argue.

Sorry - I got off on a tangent.

By: H_Roarke

H_Roarke — Wed, 13 Feb 2008 20:52:38 +0000

RDPD is unequivocally the worst finance/business book I have ever read. Kiyosaki is a snake oil salesman. I have never seen anyone present any evidence he has made any money off of anything but his books/seminars. Which is fine, but he claims to have other business ventures. His idea that money should make you more money is good, but not exactly revolutionary. He reminds of a guy selling Amway every time I see him hawking his products.

By: DJ

DJ — Wed, 13 Feb 2008 14:09:24 +0000

Great blog! I found this blog last weekend and am in the process of reading every post. This is the first time I’ve done that with any blog.

I’m also a INTJ and a scientific person. That may partly explain why this blog makes sense to me. The main reason is that you’ve actually done things rather than just repeating all the good info that’s already been published.

By: fathersez

fathersez — Wed, 13 Feb 2008 06:26:55 +0000

RDPD is also my number 1.

I have read many bloggers talk bad about this book, but it was for me, a real eye opener. Like BB said, I found that the book gave me new concepts to thinking and living, not a “how to” guide.

The other book I really like is The Richest Man in Babylon.

By: Brip Blap

Brip Blap — Wed, 13 Feb 2008 03:55:32 +0000

@betsy: I have to disagree with your points! I think the fact that RDPD is lacking in compassion hardly sets it aside from 99% of personal finance books. It’s a personal finance guide and I don’t think it’s intended to be passionate - if anything it’s supposed to be a harsh slap in the face to people who are complacent about having a consumerist lifestyle. And YMorYL is full of their assertion that you seek to “retire” in order to pursue exactly what you want to do. They have example after example of people who used financial freedom to pursue exactly the type of work you describe. They don’t say you have to take a non-paying job - just that then you can choose your work without worrying about how much it pays.

@Jacob: Great choices. Those two books along with Think and Grow Rich would be at the top of my list, too. RDPD is one of the most hated books in the PF world, but I think it’s because people don’t really get its message and instead spend time criticizing the “practicality” of its message. It’s an inspirational book, not a how-to guide.

By: betsy teutsch - MoneyChangesThings

betsy teutsch - MoneyChangesThings — Wed, 13 Feb 2008 02:42:55 +0000

I hated Rich Dad, Poor Dad. It is completely lacking in compassion. Financial security is a means to an end, not the end all by itself.
I think YMorYL makes a good point, simplifying the connection between labor and material goods. However, it doesn’t have much to say to people who love their work and feel like it is a source of satisfaction, challenge, fulfillment, and meaning and in some cases power and influence to make things happen.
Once you retire, you still need meaningful work. Unpaid work is generally lacking in a lot of the characteristics I listed above, especially power to make the things you want to see in the world happen.

By: Debbie M

Debbie M — Tue, 12 Feb 2008 18:48:56 +0000

Actually, _Your Money or Your Life_ is a step program! A nine-step program. The steps take a while but the instructions are specific, so it actually is quite a good book for the kind of people who prefer that kind of book.

The fact that you’ve forgotten all about that shows that it’s a source of good ideas for all kinds of people.