I entered the calendar year intent on reading more. Then along came the pandemic, and with it, seemingly unlimited amounts of time at home to accomplish my reading goals. Yet, where time became abundant, motivation seemed to come in short supply. Nevertheless, I did find both the time and motivation to read five popular personal finance books that I’ve had on my list for a while. Here are those five books, in ascending order based on how I would rank and recommend them.

The Simple Path to Wealth – JL Collins

This is quickly becoming the Personal Finance Bible, and for good reason. You won’t find a more clear, concise, informative and easy-to-read book, regardless of where you are in your personal finance journey. JL Collins explains finances in terms that someone totally disinterested in money can understand, because that’s exactly what he’s trying to accomplish. The purpose of his book, and his website, is to serve as a reference for his daughter, who would rather not spend her free time reading personal finance books.

The concept of F You money is as relatable, and surprisingly attainable over time, as it gets, and tends to be one of the lasting impressions from Simple Path to Wealth. But almost anything and everything you’ll need to know is covered in this one book. JL Collins rightly sites Jack Bogle of Vanguard as one of the heroes in the financial space, but he himself is right up there in the minds of many for preaching the Boglehead method in simple and actionable terms.  

Retire Before Mom & Dad – Rob Berger

If Simple Path is 1a, this to me is 1b. Published a few years after JL Collins’ book, Retire Before Mom & Dad hasn’t gotten nearly the publicity despite providing similarly quality content. A quick look at the Amazon reviews (fewer than 100) indicates just how much of a hidden gem Rob Berger (and his book) is. The author was instrumental in my early journey down the personal finance rabbit hole via his Dough Roller podcast, so perhaps this book isn’t quite as popular as I would have thought. But I see no reason why it shouldn’t be.

Berger uses simple numerical examples a bit more frequently than Collins, which may be a good or bad thing depending on how your brain works. But both of these two books are very much worth a read, even if they’re covering a lot of the same material. Berger is a great teacher and it shines through in his book.

The Wealthy Barber – David Chilton

The Wealthy Barber is a nice easy read to hammer home the point that all you really have to do is save (and invest) 10 percent of your income and you’ll be in pretty good shape when it’s time to hang up the scissors, or whatever your occupational tool. The author is Canadian, so American readers may be a little confused by frequent mentions of an RRSP (Registered Retirement Savings Plan), which is not unlike a 401k here in The States.

The Wealthy Barber is basically a personal finance book in novel form, making it even more accessible to readers who aren’t necessarily looking for a how-to guide for their finances. This has to be one of the few personal finance books that qualify as page-turners you can fly through in a day at the beach. It’s an enjoyable way to reinforce the most basic of principles, and one that often needs reinforcing.

Your Money Or Your Life – Vicki Robin

I felt a little underwhelmed by Your Money or Your Life simply because of the praise it has garnered from many in the personal finance space. A lot of that has to do with this book being a light-bulb moment for many people, and really resonating as a result. For me, it met expectations, but there are some takeaways. The memorable phrase “We aren’t making a living, we’re making a dying” really hits home for those of us treating ourselves to a 9-5 lifestyle.

Money is important, but we often prioritize it over our own health and relationships, with predictably disastrous results. If you are finding yourself struggling with work-life balance, or generally stressing a lot about work and money, this is a good book to help you take a step back and re-evaluate your situation.

Rich Dad Poor Dad – Robert Kiyosaki

You know, I really enjoyed the first half of the book. It reminded me of the conversational flow of Wealthy Barber. And then, well, to quote the author himself, he’s a best-selling author, not a best-writing author. Too much of the second half of the book felt like he was trying to sell me his Rich Dad Poor Dad line of products, or I accidentally stumbled into one of his seminar presentations. I have no doubts that said presentations have helped many people, but in book form the tone is condescending and unrealistic.

Overall, I thought it was a valuable read in that it forced me to listen to a different perspective. And I must admit there are bits of information that were worth the while. His emphasis on the importance of owning revenue-generating assets makes it worth the read in and of itself. I wouldn’t recommend this as a how-to guide on personal finance, but it can be a good kick in the ass to help get you out of a woe-is-me gutter. It’s kind of a “if you can’t beat ’em, join ’em” approach to viewing the upper class, and I’m all for that.

Any other personal finance books I should read?

There’s no shortage of money-related books out there, and I plan on continuing to read anything and everything I can on the subject. Time and motivation pending, of course. I have since crossed I Will Teach You To Be Rich and The Richest Man in Babylon off of my Goodreads To-Read list.

Full disclosure: should you decide to purchase any of these books via the Amazon links provided, I get a quarter or two from Mr. Bezos himself at no additional cost to you via the Amazon Associates affiliate program.

What’s on your reading list, and what else should I add to mine?