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    • Personal Finances
  • Blogs

Recommended resources

Resources that we believe are worth your time.

Books

Personal Finances

  1. The Missing Billionaires: A Guide to Better Financial Decisions
    Victor Haghani and James White (2023)
    https://elmwealth.com/book/

The book that inspired the development of the R4GoodPersonalFinances R package offers a practical framework based on economic theories. It guides readers on how to allocate savings efficiently and optimize spending. The book includes a few simple mathematical formulas that are insightful and beneficial to grasp. It’s highly recommended for those with an intermediate understanding of the topic.

  1. Lifetime Financial Advice: A Personalized Optimal Multilevel Approach
    Idzorek, T. M., & Kaplan, P. D. (2024). CFA Institute Research Foundation.
    https://rpc.cfainstitute.org/research/foundation/2024/lifetime-financial-advice-a-personalized-optimal-multilevel-approach
    (Free PDF available for download)

This book delves deeper than “Missing Billionaires,” unifying multiple economic concepts and mathematical formulas into a cohesive framework. New multilevel optimization model demonstrates how to make optimal decisions by considering various factors such as risk tolerance, human capital, non-discretionary spending, and asset allocation simultaneously. This comprehensive monograph covers many complex topics. Consequently, it is recommended for advanced readers with a strong interest in mathematical formulas and theoretical understanding.

  1. Are You a Stock or a Bond? Identify Your Own Human Capital for a Secure Financial Future (Updated and Revised)
    Moshe A. Milevsky (2013). FT Press. ISBN: 978-0133115291.

The book is easy to read and provides informative insights into personal finance. It clearly explains concepts like human capital, diversification, personal inflation, and risk of the sequence of returns, among other topics. A solid introduction for beginners.

Blogs

  1. www.r-bloggers.com

R-Bloggers.com is a blog aggregator of content contributed by bloggers who write about R (in English).

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DISCLAIMER! The content on this blog is provided solely for educational purposes. It does not constitute any form of investment advice, recommendation to buy or sell any securities, or suggestion to adopt any investment strategy. Any investment strategies and results discussed herein are for illustration purposes only. The content reflects the observations and views of the author(s) at the time of writing, which are subject to change at any time without prior notice. The information is derived from sources deemed reliable by the authors, but its accuracy and completeness cannot be guaranteed. This material does not take into account specific investment objectives, financial situations, or the particular needs of any individual reader. Any views regarding future outcomes may or may not materialize. Past performance is not indicative of future results. This content is not investment advice or information recommending or suggesting an investment strategy within the meaning of Article 20(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse. Investing always involves risks, and any investment decisions are made at your own responsibility.

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