Sound Mind Investing Handbook: A Stepbystep Guide to Managing Your Money from a Biblical Perspective

This is a fantastic book, it's great for the beginner who is clueless about investing, saving, etc. But, it's also great for the more experienced investor as well. It gives you steps for your financial goals and future, from Step 1, getting out of debt, all the way up to the step of your retirement, and all the steps in between teach you how to get to the point where you actually have a retirement fund. The biblical perspective is what really ties it all together. He speaks in such easy to understand terms, and you will learn so much, it has been a God send for me.

In the foreward of the third edition of "Sound Mind Investing", Larry Burkett writes "...I endorse the integrity and honesty of Austin Pryor. Obviously you, the reader, must evaluate his advice yourself. No one individual has the right advice for everyone, and anyone can, and will, be wrong in the changing economy we live in. But if you will spend the time to read carefully the counsel Austin provides in this book, you will find it both time and money well spent."I agree wholeheartedly. After having read numerous introductory texts on money-management from a Christian perspective, this book is the most comprehensive and readable text of the lot. Austin's book is divided into 6 Sections:1) Getting Debt-free. The author considers this the first level of financial fitness, an equivalent of laying a proper foundation upon which to build. At this early point in the text, he discusses the importance of tithing in your plan. Austin writes "we are not commanded to give generously. Rather, our giving is a test of sincerity of our love and our willingness to trust in God's utter faithfulness" (based upon 2Cor 8:8,9:8). Austin goes on to say "When you pray about your giving, may I encourage you to give to the full measure of your gratitude and cheerfulness. And continue to ask God to enlarge your heart toward Him so you can eagerly embrace the sacrifice needed to give all the more." In addition, budgeting as well as the dangers associated with the misuse of credit cards are discussed.2) Saving for Future Needs. This includes the principles of saving money in a secure, low-risk emergency fund (financial planners recommend 3 to 6 months living expenses; Austin recommends $10,000) as well as in an accumulation fund for big-ticket items that you anticipate purchasing within 1 to 5 years. He also includes advice on preparing to help your children to finance their college or technical education. He believes that, if parents have the financial means, they should consider helping with the expenses of a college education for their children. Emphasis is given to the benefits of investing for your children's education as early as possible. Powerful examples are given. Note that Austin believes that children should be responsible for a portion of their educational expenses as well. Advice on where to invest this money is given, including but not limited to Ed IRAs and 529 plans.3) Investing Your Surplus. Once you are debt-free and have adequate savings in an emergency fund, the author believes you can then begin to take educated risks by investing your surplus in mutual funds. This section is a primer on investment basics and mutual funds.4) Diversifying for Safety. Austin is a strong proponent of building an age-appropriate,diversified portfolio through mutual fund investing. For the typical investor, he advocates "dollar-cost-averaging" or "value-averaging" strategies versus market-timing strategies, although he does admit venturing into market-t

After trying to invest on my own,with mixed results; I've come to have a real admiration for the years of solid experience and great insight in Sound Mind Investing. The market perspective, great research and wonderful world view rate this book tops for me.

Having read twenty or thirty investment books, this one has got to be one of the best introductory to advanced texts I've seen. It is an extremely easy read and a great reference book. I especially like the author's highlighting of the most important concepts in each section.

This is a must read for anyone wondering about investing or retirement plans. Mr. Pryor gives a step by step plan to make and then meet your financial goals. He clearly explains all forms of investments with their risks and benefits. If you have any questions about investing, Mr. Pryor explains everything in a simple to understand manner. If you are old enough to earn money, this book is worth investing in. I wish I had read this years ago.