26 of 30 people found the following review helpful
Good starter book for financially inexperienced 20somethings,
By A Customer
This review is from: Get a Financial Life: Personal Finance in Your Twenties and Thirties (Paperback)
First, I would like to disagree with the two extremely negative commentators that found this book patronizing. Although this book is obviously intended for beginners, I don't think Kobliner intended for anyone to take the beginner level content personally. For example, Kobliner did not insinuate that Gen. X-ers can't use credit cards responsibly. For those who can't, however, or for those who feel overwhelmed with the amount of debt they have taken on, Kobliner provides the financial framework for knowing why you should pay your credit cards as soon as possible. I think that the summary of the book & the cutesy cover should have given these two readers a clue that the book was intended for those with a limited financial background. Lynch would be terribly heavy reading for people unfamiliar with the business world.
That said, I found this book very informative. Obviously, personal finance is a vast subject and so this book serves as a brief overview of such topics as different types of bank accounts, paying your student loans back, saving for retirement, what to look for when renting an apartment, and how to buy a house. I bought this book a couple of months before my dad cut the purse strings and I graduated from college. Although I majored in accounting, I learned mostly theory in school. I found the investing content particularly informative and I opened my IRA ASAP. It is now been a little more than a year and I do think that I have "outgrown" most of the subject matter, but I still use this book for reference. When I buy a house, I will now know about the different types of mortgages and how much I should set aside. Of course, if schools taught personal finance, I wouldn't need this at all.
I do agree, however, that this book needs to be updated, if not for the creation of the Roth IRA alone. That is the only reason I'm not giving it five stars. Internet resources would be helpful, too.
I would recommend this book to people who are starting out in life (early twenties) or to those in their mid to late twenties who have no clue when it comes to personal finance. I plan on giving a copy to my younger sister for Christmas. I would not recommend this book to anyone in their thirties, though, despite what the cover says. I think the only topic that a thirty-something might find useful would be the house-buying chapter. Here in San Francisco, though, that is how long it takes to save for a down payment on a house, so you might not even need it in your neck of the woods.