For many people, the ability to invest is a pie in the sky dream that will never be achieved, due to the fact that they may not believe they have “enough” money to invest. This book promises to allay those fears and help readers get a better view on personal finance, and working with what you have right now to solidify your finances later. This was an interesting premise for the book and we were very excited to read it, given the success of The Motley Fool website and how well esteemed the authors are in the personal finance industry.

The first few chapters contain some basic advice, but once you reach the third and fourth section, things start to get pretty interesting. If you are already well versed in managing your money but need some help on investments, you can easily just skip ahead to these sections and get exactly what you are looking for. However, it never hurts to get a refresher course, and the authors did a great job of making sure that the prose is quite readable and easy to understand.

We got a lot out of the fourth part, particularly the section on the ten most common investing mistakes. Anyone that is interested in investing in stocks should read this chapter at least twice before diving in. You’ll be able to avoid a lot of common mistakes and develop a solid game plan for investing in the future.

The fifth part was another big favorite of ours, particularly the section on “five months in.” This provides readers with a way to follow up on the advice they’ve implemented and see where they stand. While we may not agree with absolutely everything espoused in this book, there are still some real gems of information in here that cannot be overlooked, especially if you are truly interested in investing.

Although the target audience is definitely those that are completely new to managing their money, we did find some great nuggets of information in this book that will benefit even the most well versed financial whiz. The sections on investing are worth far more than the cost of the book and in many cases, it’s like being tutored by two of the best minds in personal finance. While some parts of the book may be old hat to pros, there is still solid information contained within these pages that cannot be overlooked.

For those that are completely new to personal finance, this book is a treasure trove of advice, strategies and good old common sense that can be put to immediate use. If you read only one book on managing money, this should be the one that graces your shelves. Each chapter is an education and it’s helpful to keep referring back to the book from time to time to stay motivated. We highly recommend this book to both finance pros and beginners.

Originally posted 2008-10-31 05:34:57. Republished by Blog Post Promoter

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