Bogleheads guide to investing 2nd edition
Over the course of twenty years, the followers of John C. Bogle have evolved from a loose association of investors to a major force with the largest and most active non-commercial financial forum on the Internet. The Boglehead's Guide to Investing brings that communication to you with comprehensive guidance to the investment prowess on display at Bogleheads. You'll learn how to craft your own investment strategy using the Bogle-proven methods that have worked for thousands of investors, and how to: Choose a sound financial lifestyle and diversify your portfolio Start early, invest regularly, and know what you're buying Preserve your buying power, keeping costs and taxes low Throw out the "good" advice promoted by Wall Street that leads to investment failure Financial markets are essentially closed systems in which one's gain garners another's loss.
Investors looking for a roadmap to successfully navigating these choppy waters long-term will find expert guidance, sound advice, and a little irreverent humor in The Boglehead's Guide to Investing. He saw a high fee, self-serving, good ol' boy network and thought it was wrong. Bogle believed the purpose of an investment company was to be investor-focused. His idea turned into a revolution.
The Bogleheads' Guide to Investing is a testimony to the massive changes that have taken place as a result of Bogle's vision. The ideas in this book have saved countless investors billions of dollars in unnecessary fees. Hats off to Taylor, Mel, and Mike for a job well done.
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It then describes setting a goal and investing timeframe and determining your risk-tolerance. The authors then tackle the subject of what percentage of your portfolio should be stocks vs. There are suggested portfolios for both young and middle aged investors, and for both early and late retirees. Chapter 10 explains the tax implications of stock and bond funds: dividends, long and short-term capital gains, and the effect of turnover on taxes.
The also discuss hidden costs of k plans. The chapter ends with a discussion of asset location placement of funds within either taxable or tax-advantaged accounts , with stock and bond classes listed in order of tax-efficiency. Chapter 12 discusses diversification, promoting whole market funds, and provides an extensive list of correlations between Vanguard funds. Chapter 13 is an account of why market timing of stocks, bonds, and interest rates, and performance chasing of hot funds is fruitless.
Chapter 17 starts with a lengthy discussion on rebalancing your portfolio to reduce risk, and doing so in a tax-efficient manner. Practical examples are given Chapter 18, which goes in-depth on "tuning out the noise" of much of the financial media. Included is television, internet, newsletters, radio shows, seminars and books, which they label "financial porn. The authors discuss strategies to avoid these traps.
Chapters 20 through 22 discuss retirement: when to take social security , what is a safe withdrawal rate, given longevity and health, market returns, inflation, etc. They urge the importance of remaining flexible. Next is an overview of insurance: life, health, disability, property and auto, and long term care: how much do I need, and for how long do I need it?
Finally they discuss wills, living trusts, powers of attorney and gifting. This final chapter encourages the investor to get started, and assures them that they can rely on the bogleheads online forum and local boglehead groups for support. Readers comments mikenz first edition I have read lot of books on investing before the Boglehead's Guide, and have followed the forum for years, so there was little new in this book. However it was one of the most enjoyable books I've read for its organisation and good humor.
It would be an excellent first investment book, and one of the few books in the Book List that I could give my mother and she could finish! This book really captures what the diehard philosophy is all about. See also. Bogle have evolved from a loose association of investors to a major force with the largest and most active non-commercial financial forum on the Internet.
Part 1: Essentials of Successful Investing Chapter 1. Choose a Sound Financial Lifestyle Chapter 2. Start Early and Invest Regularly Chapter 3. How Much do You Need to Save? Chapter 7. Keep it Simple Chapter 8. Asset Allocation Chapter Taxes Part I Chapter
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