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Personal Finance Books

I really appreciated "I will teach you to be rich" by Ramit Sethi. Sure the title sounds scammy, but it walks you through automating your money flow, how to negotiate fees on credit cards/cell phone/cable companies (I use this advice literally every six months to negotiate Sirius radio down by 75%), how to not feel guilty about money through conscious spending, and has great action steps at the end of each chapter. Best of all it's a fun read!
 
Cyched said:
http://www.daveramsey.com/blog/daves-investing-philosophy?snid=tools.investingphilosophy

1. Recommends people, even those near retirement, invest in a 100% equities portfolio
2. Recommends investing in loaded mutual funds
3. Tells his audience they can expect a 12% annual return
4. Recommends 8% annual withdrawal rate in retirement (a majority of experts recommend 4%)
Click to expand...

I recently met with one of Dave Ramsey's "Endorsed Local Providers" (ELPs) to discuss investing. Although I'm going the Bogleheads route, the ELP did shed some light on #3. What Ramsey suggests is true, but it's not a whole truth. The mutual fund Ramsey is referring to has, in fact, returned 12% over its life. The problem is, the only way you would have realized 12% is if you invested the day the fund was founded...in 1913. Yes, the fund has returned 12% over its life, but if you look at any given 10 year period, the returns are more like 8-10%. Smoke and mirrors.
 
To answer to the OPs original question: I recently watched an interview with Jack Bogle (founder of Vanguard and many recommend his books here). He said there was only one financial book he would recommend (aside from his own, of course) and it was "A Random Walk Down Wallstreet" by Burton Malkeil. I haven't read it personally so can't vouch for it and I'm guessing it argues in favor of the Bogleheads philosophy (index funds). I added it to my reading list and I'm looking forward to reading it.
 
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