Want to help a young family member start their financial education? Would you like to learn more about money yourself? Curious about choices you can make for optimal financial success? No matter what stage of life you’re in, you can find a great read to improve your financial life. These are the best personal finance books to read at every age.
The Best Personal Finance Books for Kids
Those Shoes by Maribeth Boelts
This is a wonderful read for kids under eight because it outlines the concept of “wants versus needs.” Understanding this concept at an early age can help kids make smart purchasing decisions later on in life.
The Lemonade War by Jacqueline Davies
For children over eight, “The Lemonade War” provides a fun, entertaining and adventurous introduction to the world of entrepreneurship and money management. There’s more than one book in this series, so enthusiastic younger readers can enjoy the story as it continues.
The Reading List for Teenagers and 20-Somethings
The Richest Man in Babylon by George S. Clason
Clason’s book is a collection of stories that teach valuable financial lessons. More engaging than nonfiction books that drone on and don’t inspire, “The Richest Man in Babylon” gives readers an education in basic money management that can empower them to build a solid financial foundation.
The Random Walk Guide to Investing by Burton G. Malkiel
If you’re working and earning money, it’s never too early to start investing some of your cash. The guide is based on Malkiel’s classic book that sold over a million copies, “A Random Walk Down Wall Street.” This version is condensed and much more focused, providing readers with a step-by-step process for investing wisely. It explains why a passive investment philosophy that uses low-cost index funds is a smart strategy if you’re just learning or getting started with investing.
Best Personal Finance Books in Your 30s, 40s or 50s
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
Once you establish yourself in your career and start earning more money, the easiest thing to do is stop saving and scrimping — and start spending. “The Millionaire Next Door” provides a great education on why that’s the worst mistake you can make if you want to build wealth. Stanley and Danko give readers a real inside look at how America’s wealthy actually use their money.
Money: Master the Game by Tony Robbins
If you want to change your fortune, you need to learn how to change (and master) your own thoughts, feelings and actions around your money. While Tony Robbins is no financial expert (and the investment advice in the book leaves a little to be desired), the chapters on improving mindsets and behaviors help you create a great relationship with money.
What to Read at 60 and Beyond
The Number by Lee Eisenberg
Feeling uncertain about the end of your career and the start of retirement? Pick up this book by an author who served as an editor for both TIME and Esquire. Eisenberg’s work shares insights, ideas and more from financial experts, researchers, coaches and other industry insiders and professionals on everything from money to living a satisfying life after work. “The Number” is about what you need for the rest of your life and how much it will cost. It not only covers your finances, but also takes a deep look at your feelings at this stage of life (and how to handle them).
Remember, whether you’re just opening your first savings account or you’re planning your finances for retirement, it’s never too early or too late to improve your financial skills. If you’re looking for a smart read, pick up one of these savvy books — it’ll be worth the investment!