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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