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Reconsidering the Advice In 3 Popular Personal Finance Books

FYI: They all have something worthwhile to offer, but after rereading them, I found that all had a glaring omission: a lack of substantive advice on investing. You will have to go elsewhere for an in-depth discussion of how to set up a portfolio and choose among stocks, bonds, exchange-traded funds or mutual funds.


  • FYI —-“Many people turn to books for help, so we decided to go back and review three of the most popular finance books of the last 15 years: Suze Orman’s “The Nine Steps to Financial Freedom” (Currency, $16.99); Dave Ramsey’s “The Total Money Makeover” (Nelson Books, $26.99); and Robert T. Kiyosaki’s “Rich Dad, Poor Dad” (Plata Publishing, $8.99).”

    NYT article - I wasn’t willing to click on a NYT article and use one of my 5 or 10 for the month.
  • "FYI: They all have something worthwhile to offer, but after rereading them, I found..."

    I doubt very much that Ted ever read them, never mind re-reading them, as he claims.
  • again, again, again, Ted is quoting the article lede, not speaking for himself
  • without having read the books, but knowing SO's show in depth, and then reading this

    The authors have different takes on how to succeed, though. Ms. Orman says trust your instincts. Mr. Ramsey says relentlessly eliminate every last shred of debt. And Mr. Kiyosaki says emulate the rich, who have figured out how to “have money work for them.”

    I would say for myself and my family that this sounds stupid beyond description, and is terrible advice in any case to anyone about almost anything, and in fact I would strongly urge F&F to do the opposite. Do not trust your instincts, cheap debt is a great thing to hold, within reason, and emulating the rich, good grief, means ... wtf wtf exactly ?
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