MONEY WORRIES KEEPING YOU UP AT NIGHT?
EXPLORE EXPERT FINANCIAL ADVICE THIS HOLIDAY SEASON
“The Total Money Makeover” by Dave Ramsey, a New York Times bestseller, is all about practical advice centered around the beginning of someone’s financial journey. He teaches readers how to successfully dig themselves out of debt, how to create a budget that doesn’t leave them starving, tips for creating an emergency fund, and more. Middle-Aged Adults (40s and Early 50s): ‘Your Money or Your Life’ by Vicki Robin and Joe Dominguez By this point in most people’s lives, they’ve established a career and have regularly occurring costs they’ve learned to manage. But isn’t there more to life than that? This book is for those who want to break out of that monotony and finally achieve financial freedom. However, the most significant benefit of this book is that it helps people who have already been stuck on the financial hamster wheel step off and look at what they want in life, set goals for those dreams, and use their finances to achieve them. Pre-Retirees (Late 50s, Early 60s): ‘The Four Pillars of Investing’ by William J. Bernstein Individuals in this age range can see retirement on the horizon. They’ve built their career over several decades and likely have a retirement account waiting for them. However, the fear becomes the thought of running out of money once the steady stream of work income is gone. In that case, setting up a diversified portfolio is a good idea. William J. Bernstein, dubbed “a hero to frustrated investors everywhere,” is an American financial theorist and neurologist. In “The Four Pillars of Investing,” he uses what he knows about people, our brains, and investing to create a practical and easy-to- read guide for anyone looking to start their investing journey and create that perfect portfolio. Retirees (65 and older): ‘How to Retire Happy, Wild, and Free’ by Ernie J. Zelinski At this point, work is in life’s rearview mirror, but that doesn’t mean money is, too. But retirement isn’t just about someone watching a bank account to see how much they have. Retirees want to do the things they love, like the trips they’ve been waiting to take or the hobbies they’ve been meaning to start. Ernie J. Zelinski, an international bestselling author and life coach, agrees. In his book, “How to Retire Happy, Wild, and Free,” he offers advice on making the most out of retirement, including managing finances while pursuing hobbies and passions.
No matter the economy, time of year, or stage of someone’s life, money is on people’s minds. According to a July 2023 report from LendingTree, “56% of Americans say they’re worried about their future financial situations, with 35% losing sleep over money.” The study further breaks down the percentage of this financial fear per generation. It found that over 50% of every age group, from Gen Z to baby boomers, were worried about their finances. Gen Xers (ages 43–58) had the highest majority at 61%. So, can we do anything about our financial situations, or will this fear haunt us forever? Of course, many resources advise cutting back expenses and saving more, but with the average American holding $21,800 in personal debt, doing so is easier said than done. Luckily, financial experts who understand these issues have written books containing far more effective, realistic, and actionable advice than “spend less, save more.” This holiday season, you may find yourself with more downtime than usual — a long plane ride ahead of you to visit family or time off your job. Whatever the reason, the extra time is the perfect opportunity to read the advice from these financial experts and take control of your financial present and future. We also understand that the financial issues a 20-year-old faces are far different than those a 65-year-old might face. So, to help you find the most effective book for your situation, we’re giving you the best books to read this holiday season, categorized by life stage. Young Adults (20s and 30s): ‘The Total Money Makeover’ by Dave Ramsey When young adults are first entering the workforce and beginning to build their careers, every penny counts. Wide-sweeping advice about investing in real estate or the top stocks to buy may not always be realistic, especially with student loans, rent, or a first mortgage on someone’s plate.
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