We've compiled a list of our team's top personal finance reads and listens
Some are personal finance classics, while others challenge conventional ways of thinking about personal finance. We also have a couple of recommendations for the young readers in your life.
Podcast: Money for Couples hosted by Ramit Sethi
Recommended by Sam Siegman, Planning Associate
I love this podcast because Ramit focuses on the relational and psychological aspects of personal finance and challenges the couples he talks to, to focus on what they want their life (their "rich life") to look like, and then backs into the money from that perspective. This content is definitely more focused on the personal than the finance, so not for people who want nuts and bolts, how to invest my money kind of content.
Book: Just Keep Buying by Nick Maggiulli
Recommended by Jackie Griggs, CFP®, Financial Planner
I like this book a lot (particularly for clients) because it's broken into super clear chapters based on a lot of the types of questions people often need help with. For example, "How Much Lifestyle Creep Is Okay?", "Should You Rent or Should You Buy?", "Why You Shouldn't Wait to Buy The Dip". So even if people don't want to sit down and read the whole book, they could probably find some valuable lessons to apply to their own financial life just by picking and choosing a few chapters that are relevant to them.
Podcast: Money Guy Show hosted by Brian Preston and Bo Hanson
Recommended by Dylan Grubb, Planning Associate
I like this podcast because they break down many different concepts (basic and a little more advanced) in an easy to digest and clear manner. The show is hosted by two CERTIFIED FINANCIAL PLANNERs® (CFP®) Brian and Bo. Brian is also a Certified Public Accountant (CPA) and Bo is also a Chartered Financial Analyst® (CFA®) so it adds their separate expertise for some extra flavor. They also answer listener questions so the concepts are applied to real life scenarios to understand better."
Book: The Richest Man in Babylon by George S. Clason
Recommended by Jeff Wenger, CSLP®, CFP®, Financial Planner
This book shares personal finance lessons in a fun parable format making concepts both relatable and easy to remember.
Fun fact: These parables were distributed as pamphlets to U.S. banking and insurance customers and were so well-received by the public that in 1926, the parables were collected into one volume under the title of his most famous story, The Richest Man in Babylon - making this a true personal finance classic!
Podcast: 50 Fires: Money and Meaning hosted by Carl Richards
Recommended by Health Lovallo, CFP®, Financial Planner
I've enjoyed listening to this podcast as the interviews he does with different people (including some celebrities you'd most likely recognize, and people who aren't so wealthy) gets into all the "feels" people have surrounding money and its meaning to them. This includes entertaining and vulnerable conversations about why talking openly about money is so taboo, how it plays into our identities, and the values people hope their use of money reflects to their families and communities.
Book: The Millionaire Next Door by Thomas J. Stanley and William D. Danko
Recommended by Jen Quire, CFP®, CFO and Financial Planner
I've always loved this book. I think it provides a really grounding perspective about what wealth is, how it's built, and what it looks like vs the common perception. And it backs up a lot of the principles we work on here: being intentional with cash flow, having a plan, etc. I think a lot of people these days are focused on projecting that they have wealth by spending vs. saving and investing to actually build it.
Podcast: Marketplace hosted by Kai Ryssdal
Recommended by Theresa Scheu, CFP®, CMO
Kai and his team report on global and US business news and focus their reporting on how these developments may affect businesses and individuals' personal finances. Although technically not a personal finance podcast, I find better understanding what is going on in our economy, helps me make better informed financial decisions.
Book: The Psychology of Money by Morgan Housel
Recommended by Hugh Baker, CFP®, Financial Planner
This book is on almost every personal finance must-read list - for good reason! Through a series of short stories, the book shows that the key to accumulating wealth has as much more to do (or more) with healthy behavioral skills as it does with intelligence or being a financial expert. Prior to writing this book, Housel wrote for The Wall Street Journal and The Motley Fool. His journalistic, easy-to-read style of writing makes this book an informative and enjoyable read.
Podcast: Finance for Physicians hosted by Daniel Wrenne, CFP®
Recommended by the team at WFP
After a brief hiatus, the Finance for Physician Podcast is back! share the good, the bad, and the ugly of navigating personal finances while practicing medicine. The team at WFP will help you hone in on the financial decisions that matter most and make sense of the ever-changing personal finance landscape.
Looking for books to introduce your kids to personal finance? Daniel Wrenne, CFP® and CEO has a couple of recommendations:
Book: The Golden Quest by David Delisle (ages 6-9)
It's a story about a kid that goes on an adventure to discover hidden treasure and find ultimate happiness. But along the way he learns the lesson that money doesn't actually buy happiness. I bought this for my middle son who was probably around 7 at the time. He was really into graphic novels and read this in one day and loved it.
Book: Grandpa's Fortune Fables by Will Rainey(ages 9+)
It's about a young child who goes on a journey to learn about getting rich but along the way learns that money doesn't buy happiness. It's a bit more advanced and covers a ton of personal finance concepts. My 9 year old loved this one and read it twice The author also has a great blog on personal finance tips for kids.
Additional Resources:
Daniel's interview with the author of the Golden Quest in this episode of Finance for Physicians
Daniel's interview with the author of Grandpa's Fortune Fables this episode of Finance for Physicians
Wrenne Financial Planning is a registered investment adviser. The content of this blog post is intended for informational purposes only and is not intended to be investment advice. The views expressed in blog post are subject to change based on market and other conditions. Some information has been obtained/provided from third party sources and is believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information, and it should not be relied on as such
Theresa Scheu, CFP®
Theresa Scheu, CFP® is the Chief Marketing Officer at Wrenne Financial Planning. She lives in the Boston area with her husband and two boys. When she's not at work you can find her at her kids' soccer games, running, and traveling.
