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.

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