Ben Stein’s latest book offers a different, destructive take on one’s personal finances. How to Ruin Your Financial Life contains over fifty popular ways people sabotage their financial lives.

With each lesson taking no more than a couple of minutes, the book is a quick read. It’s also a funny book; Ben’s trademarked dry humor abounds, reaching Saharan levels as he explains why and how you should ruin your financial life.

Each rule is designed to shock readers from their complacency. Although most of the rules might sound like bad ideas, Ben assures us that things will be different for us. So, you see, there really is no reason to be afraid.

Now while we might not spend as much as we want, bravely going into debt (rule 6) and we probably don’t believe that we are not responsible for our financial well-being (rule 16), we still might be making a few of the mistakes described.

If you do see a little of yourself in this book, changing your financial habits should be a little easier after reading about the company you keep.

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Have you ever wondered how to get rich investing in the stock market?

Would you like to know how the most successful investors made their fortunes?

Are you confident you can accomplish anything you set your mind to?

If you answered yes to all of these questions, relax, you’re normal.

Unfortunately, you’re also probably on the path to financial disaster—low investment returns. Very few investors beat the market year after year.

Larry Swedroe’s latest book Wise Investing Made Simple cuts through investment propaganda with a strategy that offers you “the greatest odds of achieving your financial goals with the least amount of risk.”

Larry has made a career on solid investment advice through six books and his experience as an investment advisor. Now director of research for Buckingham Family of Financial Services, he continues to promote solid investing principles in his new book.

Wise Investing Made Simple uses tales to show how common sense often does not translate into financial sense. The stories address questions like why it’s not possible to consistently pick winning stocks and why great companies do not make high return investments.

If you are already familiar with the advantages of index funds, low expenses, and asset allocation, you’ll find enjoyable stories that reinforce what you know.

But if you are new to investing, you’ll learn why most investing advice is wrong—the advice hinges on the premise that you or professional investors can successfully pick rising stocks. Consistently beating the market, however, is nearly impossible, even for the most successful professional investors.

Wise Investing Made Simple will also explain why the most successful mutual funds aren’t likely to provide you similarly high returns.

If you are a do-it-yourself investor, you will probably need to read more on index funds and asset allocation before setting out on your own. Otherwise, this book will put you on the right investment path and will help you find a reputable investment advisor that can design the plan most likely to achieve your financial goals.

You can learn more about Larry Swedroe, wise investing, and his books at Buckingham Family of Financial Services. Make sure to check out his monthly column at Moolanomy.

Many thanks to JLP @ All Financial Matters who provided the book via a drawing.

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Do you know that feeling of anticipation, when you hold a new book, knowing full well it will be a joy to read from start to finish?

Russell Roberts has managed to craft another such a gem. But The Invisible Heart is more than a good story, it’s a love letter about economic freedom.

Roberts has a knack for making economic lessons accessible, even fun to read. In his first book The Choice: A Fable of Free Trade and Protectionism he made the case for trade.

With The Invisible Heart, Roberts pioneers a new genre, the economic romance. The story features an unlikely pair; a couple so unlikely, that the ending remains a surprise up till the end.

Invisible Heart features more plot turns than Roberts’ first book, but still contains plenty of his trademark dialog. In fact, the only way economics instructor Sam and idealist co-worker Laura might have a chance together is through many deep discussions.

Many of their discussions involve Sam defending his profession. Laura sees businesses as greedy and economists, like Sam, as their stooges. Instead, Sam explains that he loves freedom and he has little to no faith that the government can improve life through regulation (restricting freedom).

As their relationship progresses, Sam has the opportunity to dispel many common myths about the dismal science, and the dangers of government intervention.

The Invisible Heart is an exciting story full of rich dialog. Sam’s arguments might not convince everyone about the free market’s advantages. But all readers will better understand the dangers of government intervention and why some people prefer to let the market work.

You can learn more about economics at Russell Roberts’ homepage, or at Cafe Hayek where he blogs. He also hosts a regular “economics podcast for daily life” called EconTalk. The Invisible Heart is available at Amazon.com and sample chapters of his books are available.

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When is a book more than a book? Occasionally a book comes along with an idea so powerful, so simple that it threatens to transform the world.

Russell Roberts’ The Choice: A Fable of Free Trade and Protectionism is more than a book.

Roberts offers us a glimpse of a different America, an America free from foreign competition. A poorer America because it shunned trade. This alternative history is particularly relevant today as members of the media and politicians are all too happy to promote the idea that foreign countries like China are stealing our jobs.

Instead, Roberts shows readers how trade does not affect the number of jobs, instead it affects the types of jobs people work. Fortunately for us, one of the main characters is resistant to the idea.

This resistance to change provides the premise for the story. Ed Johnson, CEO of the Stellar Television Company is facing increased competition from lower priced Japanese televisions. Johnson is a generous man who wants to see his employees protected. His solution is a tariff on Japanese televisions.

In 1960, the tariff passes and employees of the Stellar Television Company continue to prosper. But this tax puts American down a dangerous path and it’s up to nineteenth-century economist David Ricardo to show Ed why (and to earn his heavenly wings in the process).

Their discussions range from outsourcing to tariffs to trade deficits and whether globalization helps the poor.

Roberts view of trade is anything but naive. Sometimes a few people are made worse off when their job moves overseas, but most people’s lives are enriched. The foreign worker now has a job much better than what was available before. Everyone now has access to a more affordable product. And the displaced worker is freed to pursue other opportunities that might pay more or be more rewarding.

Ultimately, the next generation has more money and more choices that were simply unimaginable when the jobs initially moved.

The Choice is a wonderful little book full of powerful examples that will help you better understand the benefits of trade. A clearer understanding is important today as free societies are faced with the choice between allowing people to make mutually beneficial transactions or protecting the incomes of a few at the expense of many.

You can learn more about the benefits of trade at Russell Roberts’ homepage, or at Cafe Hayek where he blogs. He also hosts a regular “economics podcast for daily life” called EconTalk. The Choice is available at Amazon.com and sample chapters of his books are available.

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