Finance books are a big trend as everyone wants to know how to make a buck. However, some books do not understand some aspects of business and finance issues and give the most unhelpful advice a reader could ask for.
Rich Dad Poor Dad by Robert Kiyosaki
Seeing this best-seller here might raise an eyebrow, but many readers think this book contains horrible advice. It recommends joining an MLM, claims that a house doesn’t qualify as an “asset,” and includes poor definitions of finance terms. This book tops this list with the worst financial advice.
Cash Cows, Pigs, and Jackpots: The Simplest Personal Finance Strategy Ever by David Trahair
The author falsely states that the markets are rigged against the individual investor. “he advises readers that they shouldn’t invest in the equity markets. It is full of misconceptions and will not help you or anyone to learn about finance.
The Latte Factor by David Bach
This book is condescending and is filled with sexist tropes and stereotypes, questionable math, and overwhelming optimistic returns expectations. It can quickly breed financial misconceptions.
Warren Buffett Invests Like a Girl: And Why You Should, Too by LouAnn Lofton
Many readers have stated that this is a sexist book that reiterates how females are so much wiser than men in investing. While that might be an interesting idea, what’s concerning is that they used studies from irrelevant authors that do little to support an argument.
The Clash of the Cultures by John C. Bogle
With a few good chapters but most mediocre and repetitive, this book has little to say about investment. It talks about Wall Street’s speculations and how it impacts investors. In retrospect, the book served as a decent way to pass the time. Yet, its potential to offer more practical insights still needs to be explored.
The Six Fundamentals of Success by Stuart R. Levine
Written by the CEO of Stuart Levine & Associates, it’s disappointing to see no accurate, consultancy-worthy advice. Although it is not the worst book, it could be more helpful; you get introductory chapters about the industry and how to create a plan, etc.
Working with You is Killing Me by Katherine Crowley
Although it may be presented as a business book, it speaks about everything but finance. With a statement like “Take charge of your own response,” you will not really get those numbers growing.
The Laws of Lifetime by Dan Sullivan and Catherine Nomura
Another business book without much helpful financial advice has a few listed principles; examples include “Always make your gratitude greater than your success” and “Always make your performance greater than your applause.”, which show the book’s quality.
The Invisible Employee: Realizing the Hidden Potential in Everyone by Adrian Gostick and Chester Elton
This book is from the O.C. Tanner Company and has a self-proclaimed performance recognition company. The book has a few helpful comments, and the advice is your typical go-to finance input that you can find online.
Wealth Without Risk by Charles J. Givens
The author faced many lawsuits and two court cases for misleading his customers and was ordered to refund $14 million. No one needs any financial advice from this guy!
The Only Investment Guide You’ll Ever Need by Andrew Tobias
This book is decent for someone new to finance and investing. However, if you already know the basics, there is little to learn. Besides, some frugal advice is too much, even for long-term budgeters.
Reminiscences of a Stock Operator by Edwin Lefèvre
It is based on personal accounts with technical issues such as selective memory and deception. It is definitely not the evidence-based finance book that you are looking for.
Your Money or Your Life by Joseph R. Dominguez and Vicki Robin
This book has good points but could be more concise and easier to finish. Many readers think it needs to be revised and updated, with horrible advice for investors.
The Retirement Miracle by Patrick Kelly
This book is about having a tax-free retirement using indexed universal life. Its tendency to make ridiculous claims causes it to earn a spot on this list. The author compares whole life insurance to the stock market, using the NASDAQ index instead of the S&P 500.
From Day One: CEO Advice to Launch an Extraordinary Career by William J. White
The former CEO/professor William J. White has written the most apparent financial insights. There’s nothing better than a collection of anecdotes and feel-good motivational quotes, such as “Your long-term success in your career will be rooted in the contribution you make.”
The Best Damn Sales Book Ever: 16 Rock-Solid Rules for Achieving Sales Success! by Warren Greshes
It calls itself “the best book ever” and is written by Warren Greshes, a motivational speaker, but has little to offer in this book. With a chapter discussing how salespeople see themselves as successful and a guide about setting goals, I wonder if you’d get anywhere with this text.
Broke Millennial by Erin Lowry
The author often comes across as condescending and rude; for example, she speaks to millennials as if they don’t understand how to use credit cards and offers very little financial information. It also makes an assumption that everyone has stable, full-time jobs.
“The Total Money Makeover” by Dave Ramsey
This is one of the finance books that can help you, but it depends on the information. Dave Ramsey has spent years teaching others about finances through speeches, podcasts, and books, and this is one of his famous books. This book will help you pay off your debts, save for retirement, and plan for the future.
