5 Books About Investing as Recommended by Jen Smith
Jen and her husband paid off $78K of debt in 23 months. During that time Jen became passionate (borderline obsessed) with encouraging others that they could take control of their spending and get their finances under control. Since 2016 Jen has been featured in U.S. News, Yahoo Finance, Money Magazine, and The Wall Street Journal. She’s been nominated for best new personal finance podcast as co-host of the Frugal Friends Podcast and has written for The Penny Hoarder, The Financial Diet, and MarketWatch. When Jen isn’t behind her computer she’s a new mom trying to figure out this whole parenting thing. Today we chat with her about 5 books she would recommend on investing.
The first book you recommend is The Simple Path to Wealth by JL Collins. What makes this book so important when it comes to investing?
Investing can be an overwhelming topic, I love Collins' book because it's simple, relatable, and easy to read. It makes everyday people feel like they can be expert investors.
The book takes a really simple approach, as the author believes that complex investments only profit those who create and sell them. Do you agree with this statement?
Next up is Broke Millenial Takes on Investing. Do you think one should start investing young, even when you feel you aren't ready to get into the market?
You should start investing as young as possible, especially if you feel you're not ready. Time is your ally in investing and getting over your fear to start is more important than knowing everything.
Your Money or Your Life by Vicki Robin is third on the list. Why is this book considered as one of the most influential books ever written on personal finances?
The book is an important guide to the financial independence/ retire early movement. It encourages people to look at their purchases in terms of how much time they cost instead of simple monetary value.
This book focuses not only on financing strategies, but also on mindfulness, good habits and decluttering. Tell us about your take on this.
Personal finance is personal first. Without lifestyle change, financial change won't be sustainable.
The Little Book of Common Sense Investing by John C. Bogle places emphasis on index funds as a good investment. Do you agree with him? Why?
Index funds aren't the only way to invest but I feel they're the simplest so I believe they're a good way to start investing.
Last but not least, you recommend The Book on Rental Property Investing by Brandon Turner. Please tell us more about why this is a good book to read for aspiring investors.
If you're funding your 401k and IRA every year and want to diversify, real estate is a great way to do that. Brandon Turner has built an extensive resource for real estate investors at BiggerPockets.com and his book
Rental properties have the caveat that they often require a lot of maintenance and work. Do you think the payoff is worth it?
If you like real estate then it's worth it. But like any work, if you don't enjoy it you shouldn't do it.
Where can our readers discover more of your work or interact with you?
I'm at modernfrugality.com and on Instagram at @modernfrugality.