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Ric Edelman is consistently rated as the top independent financial advisor in the country by well-respected publications. He also hosts a weekly radio show where he talks about the economy and answers questions. Even if you think you know a lot about finances, Ric is the type of guy that will re-educate you and challenge your financial plan. While it’s true that this book covers many of the standard areas that many books of this nature cover like stocks, bonds, mutual funds and so on, it’s also the most well rounded personal finance and investing book that I’ve ever read and I’ve been around the block. The Truth About Money includes information about such overlooked topics like:

Estate Planning

I bet a lot of you have never used the services of your financial advisor to talk about estate planning. Retirement planning is great but what about preserving your wealth for your heirs? Ric covers this in detail and also provides solid arguments on why you can’t afford not to do so.

Insurance

Before reading this book, the topic of life insurance seemed unnecessary. It really opened my eyes to why you need it as well as health insurance. Too many people scrimp on these and then lose everything due to a sudden major illness that costs thousands to treat or a sudden death that leaves many debts unpaid and no insurance to cover them.

Personal Finance

This book not only covers investing but details how you can get out of debt, if you should pay for child care, the best ways to pay for college, whether it’s better to buy or lease your car and the truth about home ownership. Most investing books don’t touch any of these topics but Ric covers them in depth.

Investment Principles

You’ll learn why you shouldn’t try to time the market, why investing based on your emotions is bad, why world events won’t really hurt your portfolio that much and the truth about how fees charged by mutual funds will eat up your gains. These aren’t the cookie cutter principles you’ve read about in other books!

Taxes

If this wasn’t enough, this book also dedicates a section to reducing your tax burden. Who wouldn’t like to pay less tax? Ric outlines some common deductions that you might be missing out on as well as some that you might not be aware of. By creating awareness of these and highlighting who can benefit from a tax professional, Ric demystifies the complex world of the tax code.

This book will change the way you think about investing for your retirement and how you plan for the unknown right now. In fact, after reading this book, I changed the way I think about investing significantly. Ric makes it easy to understand and gives you clear advice and steps on how to improve your financial situation. I challenge you to try reading it for yourself and seeing if you don’t learn at least five new concepts that you already didn’t know.

If you have anything to say about Ric Edelman and his book, feel free to comment below.

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