The Smartest Money Book You'll Ever Read: Everything You Need to Know about Growing, Spending, and Enjoying Your Money

by Daniel R. Solin, Joe Barrett (Reading)

Stop working for money
and put your money to work for you! Tens of thousands of readers trust Dan Solin's advice when it comes to investing, managing their 401(k)s, and planning for retirement. Now Solin offers the smartest guide to money management and financial planning yet. From managing your debt, boosting your savings, and owning (or renting) a home to buying insurance, maximizing investment returns, and retiring when you want to, The Smartest Money Book You'll Ever Read is your road map to financial freedom-and to enjoying yourself along the way.

Genres: Finance, Nonfiction, Self Help, Personal Finance, Money, Audiobook, Personal Development

Audio CD

First published December 1, 2011

About the author

Dan Solin is the New York Times bestselling author of the Smartest series of books which include: The Smartest Investment Book You'll Ever Read, The Smartest 401(k) Book You'll Ever Read, The Smartest Retirement Book You'll Ever Read, The Smartest Portfolio You'll Ever Own The Smartest Money Book You'll Ever Read, The Smartest Sales Book You'll Ever Read and Does Your Broker Owe You Money?

His latest book, Ask: How to Relate to Anyone, is based on cutting edge research he did to find out why he wasn't better at sales. What he discovered turned everything he previously believed upside down, increased his conversion rate exponentially and transformed his business and personal relationships.

Dan has taught the lessons in Ask with great success to audiences in North America, Europe and Asia.

Dan blogs regularly for Advisor Perspectives and also has a newsletter distributed to thousands of subscribers.

He graduated from Johns Hopkins University and the University of Pennsylvania Law School.

Visit the website for Ask for more information: askdansolin.com

Reviews

[January · Rating 5 out of 5]

The Smartest Money Book You'll Ever Read
Everything You Need to Know About Growing, Spending, and Enjoying Your Money by Daniel R. Solin
5h 26m narrated by Joe Barrett, 290 pages

Genre: Personal Finance

Featuring: What's The Point?, Epigraphs, Mint.com, Wrapping Your Mind Around Your Money, Master Your Universe, Freedom From Debt, The Home Dilemma, Rest Insured: Solving the Insurance Rubik's Cube, The Investment Industry: Friend and Foe, Don't Fight the Markets, Putting Your Money to Work, Real Retirement Planning, Life (and Death) Events, Putting It All Together, Sources, Support, and Supplemental Reading, The Lifestyle of the Broke and Homeless, A Map Won't Help Without a Destination, Focus on Your Net Worth,The Thrill of a Budget Beats the Agony of Poverty, Pay Yourself First, Build Savings Muscle, Investing in Your Home, Home Economics: Should You Buy or Rent?, Foreclosures and Short Sales, Annuities, Beating the 401(k) Rip-Off, Index Funds, Making Your Money Outlive You, Sources of Cash in Retirement, Life (and Death) Events, Kids Cost Money, College, Teaching Your Children About Money, Giving Back, In Sickness and in Wealth, Estate Planning Basics, Get a Budget, Get Out of Debt, Get a Home, Get Insured, Get Invested, Bulletproof Your Plan, Sources, Support, and Supplemental Reading; Glossary, Appendix, Risk and Return Summaries, Acknowledgements, Publisher’s Note, Index

Rating as a movie: PG

Quotes: "It’s sad that so few people achieve financial independence. Less than 3% of the U.S. population has $1.5 million or more in assets, free of debt, and this includes the equity in their homes. A recent study found that nearly half of Americans probably couldn’t come up with $2,000 in 30 days. (If you’re not familiar with terms like assets or equity or if you come across any other financial terms that you’re not sure you know the meaning of, you will probably find them defined in the glossary.) This reversal of fortune for so many Americans is dispiriting. This book will help put you on sound financial footing. This is not a book about how to get rich quick. But even if you are 60 and broke, I can show you how to become free of financial worries in a year or so and then rebuild from there. If you have 5 to 10 years, I can show you how to become financially comfortable. If you have more time, or have a good starting base of assets, I can show you how to become wealthy. You don’t need a lot of money to implement my suggestions. You can start small. If you don’t have a high income, if the value of your portfolio or your home has fallen, or if your retirement plans have been derailed, you can rebuild. The secret is to plan and budget."

"Here’s what you can expect to learn: 1. How to rebuild from the devastating financial reversals of the past several years. 2. How to free up money to invest and begin the journey to put you on sound financial footing. 3. How to access the tools at Mint.com (if you choose to do so) for budgeting, tracking, investing, and shopping for financial services. 4. How to avoid becoming a victim of financial institutions who remain dedicated to making money at your expense. 5. Why financial planning is an absolute necessity in the current financial climate of turbulence and uncertainty."

My rating: 🌟🌟🌟🌟🌟💵

My thoughts:📱37% 2:01:06 Chapter 19 - Annuities: Don’t Toss the Baby Out with the Bathwater - This book has a lot of good points but some of the data is dated, it would be nice to know how the seniors are doing in 2020, but the 2009 information made its point.
📱55% 2:58:30 Chapter 27 - Why Index Funds Work for Investors - Crooks everywhere, no surprises here.

This is a pretty good money book. I'm glad I finally got it off my TBR. I need to pass this one on to my kids and do a refresher in the future. I would love a revised and updated publication of this book.

Recommend to others: Yes. There is a lot of good information that helps you avoid the financial industry taking advantage of you.

[Lin · Rating 2 out of 5]

Because I am of a certain age, I am not a fan of mint.com. The cover of this book has a seal of approval saying “endorsed by mint.com” I should say so! This book may as well have been written by mint.com for all the “mint hints”, which are available to mint users and therefore, useless to me. I wonder if Mr. Solin received compensation for the endorsement. If you like mint.com, you will probably love this book.
I did find some value in the material presented and perhaps I will try one of his other books, but I do not think this is “The Smartest Money Book You’ll Ever Read”.

[Audrey · Rating 4 out of 5]

Back to the basics type of book. everyone need to knows this information!! if you don’t you’re in trouble 😬

[Malin Friess · Rating 4 out of 5]

Solin provides more information on budgeting, paying down debt, buying a house..with some repeat information on investing, financial advisors, wills, and insuring yourself and your family.

1- Save 7-10% of your gross (pre-tax) income.
2- 95% of actively managed funds fail to match their market indexes
3- Devote no more than 25% of your income to housing costs (mortgage, insurance, tax, utilities)
4- How much do you need to retire? Experts say 75% of pre-retirement income (that seems high considering how much of current income goes to housing costs, children/schooling/childcare, and savings). That means saving 15% of income every year for 40 years. Another rule of thumb is 20 times your annual income while employed.

4 stars. Informative.

[Monica · Rating 4 out of 5]

Everything I know about the stock market I learned from Hollywood, so everything I know about investing is useless. I picked up this book because I wanted someone (who wasn’t interested in taking my money) to tell me what kind of investing is in the consumer’s best interest. Solin explains how to invest in an honest and objective way. What I appreciate most is the clear advice and direct steps he provides.

After reading this book, I feel pretty confident about how I want to invest my money. I skipped the sections on getting out of debt because it didn’t apply to me (and Dave Ramsey is better at that topic anyway). Some readers were annoyed by how often mint.com got mentioned (spoiler: A LOT), but it was really easy to ignore the mint.com “tips” and suggestions.

[Libby · Rating 5 out of 5]

This is a great intro summary into all aspects of personal finance stuff (and a great review if it's been a while since you have paid attention to your own finances). I think this is a must read for everyone to have a basic knowledge of personal finance and to be aware of how to plan for your financial future.

[Josh Liston · Rating 3 out of 5]

Seemed to wander a little more than his other work, but still cream of the money-book-crop!

[Jessica · Rating 4 out of 5]

This book had a lot of good information. I listened to it in the car on my commute, but I am thinking of actually buying a copy because there is information that I would like to have.

[Joe Cunningham · Rating 4 out of 5]

Actionable advice in an easy to understand format without holding your hand or assuming you’re a financial idiot.

[Annette · Rating 5 out of 5]

His books are always excellent. This one is a broad overview of everything, which is a good primer for some of his other books on more specific topics.

[Adam · Rating 4 out of 5]

If you have more money then you can ever spend congratulations! 🎉 this book isnt for you. But if your like the other 99 % of people continue reading..
can you let the market build wealth for you?
Or are you taking the idea that your family can't live in the S & P 500 ?
Remember you can never be too rich or too thin
You may see yourself as never retiring.....plan anyway
The reason the market will always give a return is this: none of us is as smart as all of us
Invest in just three index funds

What my 👂 heard ⤵️

with Sarah as my future I like my chances
if the rules don't work you change them
less than 3% of the US population has 1.5 million dollars or more in liquid assets not including their personal house
think of debt like a massive drain on your future income
place more value on having money than spending it
the rich always thinks in terms of delayed gratification
money will work for you if you put it to work
what value do you place on being able to retire comfortably?
a map won't help without a destination
that is the enemy of your wealth
the thrill of a budget beats the agony of poverty
a man in debt is a slave
debt is the worst poverty
when you avoid that you avoid the poverty it can generate take a dim view of poor credit histories
buying a home is not always the guaranteed financial home run people think it is
homeownership is such a badge of middle class membership
you can live in a house that will provide shelter for you and your family but you can't live in the s&p 500 index
mortgage payments represent forced savings
all insurance is basically a bet
limited exposure to loss of income
casino makes money on every game
nothing changes on Wall Street
sales people exist to overcome resistance
baking expresses Hands-On I took the trouble caring
let the market do the work
it takes discipline to do nothing
can you let the market build weath for you ?
how much risk for how much return?
juicy returns
cdc.
how do you feel about losing money?
invest in three index funds that's it
you can never be too rich or too thin
you may see yourself as not retiring but plan anyway
if you have more money than you can ever spend congratulations
first we make our habits and then our habits make us
none of us is as smart as all of us

[Clio · Rating 5 out of 5]

This book agrees with the best practices for investing laid out in the Investing All-in-One for Dummies by Eric Tyson et al that I'm also currently reading. There's a lot of useful info here about all kinds of personal finance topics and while some of them aren't currently useful to me I'm glad I own this book because I'll probably go back and reference those sections. You can easily just read the chapters on the topics you're interested in and they're all short and to-the-point, with one-sentence TLDRs at the end of each.

Great info for a dummy/great starting place for my book-learning about personal finance.

[Randy Daugherty · Rating 4 out of 5]

Stop working for money
and put your money to work for you! Tens of thousands of readers trust Dan Solin's advice when it comes to investing, managing their 401(k)s, and planning for retirement. Now Solin offers the smartest guide to money management and financial planning yet.

From managing your debt, boosting your savings, and owning (or renting) a home to buying insurance, maximizing investment returns, and retiring when you want to, The Smartest Money Book You'll Ever Read is your road map to financial freedom-and to enjoying yourself along the way.

[Mycala · Rating 3 out of 5]

Just a heads-up -- this book recommends the use of Mint.com. On about every fifth page. That said, it's a good book. It covers the standard budgeting, saving, getting out of debt, making your money work for you, how to find the best insurance, whether or not you should own or rent a home, stock markets and mutual funds, estate planning, and how to navigate extenuating circumstances such as serious illness.

[Shawn · Rating 1 out of 5]

If you've ever read articles/blog posts/forum posts about personal finance, or a book about personal finance, this book will NOT be useful to you. This book is an introduction to personal finance, but not as useful as perusing reputable online sources.

It reads like a really long advertisement by Mint.com. Mint.com is a very useful tool, but I did not enjoy expecting to read a book by a respected investor advocate, and instead reading a very long and useless commercial.

One star.

[Sarah Benetti · Rating 1 out of 5]

I’ve read dozens of financial books this year and this is the worst. I don’t agree with a lot of it, but that’s not why. It’s repetitive and his arguments aren’t arguments, he doesn’t back up his opinions. Not a fan

[Sarah · Rating 2 out of 5]

I don't consider myself to know much about finances, so I was surprised that a lot of the content is this book is common sense & common knowledge finances. There were a few glimmers of new info that I hadn't heard before, but overall not a very informative book.

[Jude · Rating 4 out of 5]

This is a good book with plenty of good details and advice on how to build wealth. It's truthful and real, but is slightly cynical at times. It would be better if there weren't so many "Mint Hints" and other finance apps and tools were mentioned.

[Angelika · Rating 3 out of 5]

A solid introductory book to taking control of your finances. I highly recommend this book to folx just starting to save. A lot of references to resources that will help the reader continue to learn. The advice is sound and reflects what I’ve read elsewhere.

[Cindy McReynolds · Rating 4 out of 5]

It covers a broad spectrum of different subjects related to money and wealth. It's over a decade old, and some of the technology is dated. Yet, most of the information is valid, though the numbers may be off due to economic variables.

[Saad Aftab · Rating 4 out of 5]

Simple, concise and packed with information like any typical Solin book.
Highly recommended.

[Terry Burger · Rating 5 out of 5]

Love this book. Easy reading with sage advice that you can put into action immediately. If you are serious about learning personal finance this is a must read.

[Warren Brown · Rating 3 out of 5]

Some good tips. Trying to learn.

[Melissa Akin · Rating 3 out of 5]

Pretty basic but good information

[Robin Hunt · Rating 3 out of 5]

Good basic info for anyone new to finance.

[Tim Johnson · Rating 2 out of 5]

It's hard to find a money book to get really excited about because so much of the advice that's out there seems like it should be common sense. Spend less than you earn, save, invest, and avoid debt like the plague. It's all good advice and yet it's not that simple in reality.

The financial industry as a whole is full of people whose only goal is to take money out of your pocket and put it in theirs. Invest in an index fund with Vanguard. It's good advice but he doesn't tell you that you need $10,000 dollars as a minimum investment. I think I have 10k laying around the kitchen somewhere. It's a lazy 10k and needs a job. Ten thousand dollars is a lot of money for most people.

Solin also advocates paying off your largest debts before you start saving. It makes sense because you will pay more in interest than most savings products will give you. Dave Ramsey advocates building an emergency fund then paying down your debts from smallest to largest. Both methods make sense but Ramsey's gives you the ability to feel like you're making progress. We build on success.

This is essentially a book of tips and couldn't be anything else, considering the breadth. I find it useful to read on these topics. Even if I disagree with some of the tactics, it keeps me focused on my goals.

[Mark · Rating 3 out of 5]

The Richest Man in Babylon is general principles that apply in any economy, The Smartest Money Book You'll Ever Read is specific advice for modern Americans. Exhaustive in scope, no one person needs all of this advice, but everyone could probably use some of it.

It seems that most financial advice writers have one piece of advice that they consider to be of paramount importance, and they feel the only way to impress their audience with the importance of this advice is to repeat it in the same words two or three times a chapter for the middle third of the book. The advice may be quite good, but the approach is not the soul of persuasion. If you want to cut to the chase, in this book, it's low-fee, passively-managed indexed funds and fund families.

[steph · Rating 2 out of 5]

It had too much in it to be truly effective. It had only like 230 pages but 47 chapters so you can understand how everything is shortened and condensed. It's a great book if you are just starting to read finance and aren't really sure of everything just yet because it gives a good overview of a lot (debt, retirement, owning a home, life insurance, investing, estate planning etc). But if you are looking for a finance book that is more detailed in specific areas geared to your needs, I'd recommend trying another finance book.

[Barbara · Rating 3 out of 5]

A helpful guide to any financial questions one might have. the author gives many helpful tips in a no nonsense manner. Many of his tips we already know; pay off all credit cards, starting with the highest first. He suggests the only accepatble debt is mortgage debt and gives the website www.mint.com for all money matters.

[John Cardelli · Rating 4 out of 5]

I have read many personal finance books and I have this one to be rather excellent. It went through the basics of Investments, Debt, and everything else that personal finance books typically are about. There were a few pieces of gold within the book itself. I wasn't too impressed on the Mint.com advertising within the book but all in all I would recommend this book.