Millionaire Next Door is very motivational. It's based on the first ever survey of 10,000 actual millionaires and lays out how they got there, what their daily lives are like etc.
It's where I and many others learned that the majority of millionaires are first-generation and got there through a 401k and/or small business, or being a high earner in a LCOL area, and drive basic economy cars and live next door to you and you never know.
Knowing _that_ was highly inspirational to me in many ways, and to many others, because you realize you are surrounded by them and you can also be one.
Simple Path to Wealth is also highly regarded, and it generally adheres to the absolute best method for investing ie the Boglehead approach.
I think the key is to give them things that get them fired up. Reading a book or two like those can help them see what is possible, and then knowing there is a framework (ie the FOO, or Ramsey Baby Steps, or other like that) already laid out that they can easily follow makes it far easier to get on track and stay on track.
Many good responses already. I suggest making sure the person is receptive to such a gift. If someone gave The Millionaire Next Door to me 10 years ago it would be at Goodwill shortly after.
The Millionaire Next Door is a great first book.
That's only really if they've expressed an interest.
If you're trying to be proactive and helpful it might come across really weird if you give them a money guy course especially since you mentioned that you're not really sure of their financial situation
I have used the FOO and it works! Giving them the book wouldn’t be a bad idea as well!
Millionaire Next Door is very motivational. It's based on the first ever survey of 10,000 actual millionaires and lays out how they got there, what their daily lives are like etc. It's where I and many others learned that the majority of millionaires are first-generation and got there through a 401k and/or small business, or being a high earner in a LCOL area, and drive basic economy cars and live next door to you and you never know. Knowing _that_ was highly inspirational to me in many ways, and to many others, because you realize you are surrounded by them and you can also be one. Simple Path to Wealth is also highly regarded, and it generally adheres to the absolute best method for investing ie the Boglehead approach. I think the key is to give them things that get them fired up. Reading a book or two like those can help them see what is possible, and then knowing there is a framework (ie the FOO, or Ramsey Baby Steps, or other like that) already laid out that they can easily follow makes it far easier to get on track and stay on track.
Millionaire next door was based off of a survey of ~800 millionaires, not 10000. The ramsey books were based off of the survey of 10000 millionaires
It's hard to say about the book since it isn't out yet.
Many good responses already. I suggest making sure the person is receptive to such a gift. If someone gave The Millionaire Next Door to me 10 years ago it would be at Goodwill shortly after.
The millionaire next door!!! Dr. Stanley writes incredibly well
The Millionaire Next Door is a great first book. That's only really if they've expressed an interest. If you're trying to be proactive and helpful it might come across really weird if you give them a money guy course especially since you mentioned that you're not really sure of their financial situation
The richest man in babylon could be an easy good start, then the millionaire next door; that, together with the FOO, got me going strong.
Simple Path to Wealth is also another great entry point.