Best of Bogleheads - your #1 takeaway

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
Dottie57
Posts: 7118
Joined: Thu May 19, 2016 5:43 pm
Location: Earth Northern Hemisphere

Re: Best of Bogleheads - your #1 takeaway

Post by Dottie57 » Sun Sep 01, 2019 3:20 pm

Having the right asset allocation - for yourself - will allow you to Stay the Course.

Edit - my very most important thing I learned is that I can manage my own portfolio.

Mr.BB
Posts: 1055
Joined: Sun May 08, 2016 10:10 am

Re: Best of Bogleheads - your #1 takeaway

Post by Mr.BB » Sun Sep 01, 2019 4:10 pm

The long term costs of a fund's expense ratio and other fees.
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

core4portfolio
Posts: 357
Joined: Thu Dec 26, 2013 2:12 pm

Re: Best of Bogleheads - your #1 takeaway

Post by core4portfolio » Sun Sep 01, 2019 4:11 pm

ionball wrote:
Tue Aug 27, 2019 1:08 pm
The elegance of simplicity.
+1
When complexity doesnt worked choose simplicity
Allocation : 80/20 (80% TSM, 20% TBM) | Need to learn fishing sooner

TomCat96
Posts: 790
Joined: Sun Oct 18, 2015 12:18 pm

Re: Best of Bogleheads - your #1 takeaway

Post by TomCat96 » Mon Sep 02, 2019 6:12 am

The consumer issues, product reviews, travel tips, career advice

aristotelian
Posts: 6447
Joined: Wed Jan 11, 2017 8:05 pm

Re: Best of Bogleheads - your #1 takeaway

Post by aristotelian » Mon Sep 02, 2019 10:56 am

The market is unpredictable. Focus on risk, diversification, and expense, as those are things you can actually control. Stay the course.

User avatar
Taylor Larimore
Advisory Board
Posts: 28809
Joined: Tue Feb 27, 2007 8:09 pm
Location: Miami FL

Re: Best of Bogleheads - your #1 takeaway

Post by Taylor Larimore » Mon Sep 02, 2019 12:12 pm

Bogleheads:

No investment advice anywhere is better than this:
THE BOGLEHEADS INVESTMENT PHILOSOPHY

1 Develop a workable plan
2 Invest early and often
3 Never bear too much or too little risk
4 Diversify
5 Never try to time the market
6 Use index funds when possible
7 Keep costs low
8 Minimize taxes
9 Invest with simplicity
10 Stay the course
Best wishes
Taylor
Jack Bogle's Words of Wisdom: "The Bogleheads, this diversification of caring individuals investors are a remarkable group. Even better, when you learn from their collective wisdom, you'll join the ranks of the investors who are well on their way to realizing their investment goals."
"Simplicity is the master key to financial success." -- Jack Bogle

Chip
Posts: 2591
Joined: Wed Feb 21, 2007 4:57 am

Re: Best of Bogleheads - your #1 takeaway

Post by Chip » Mon Sep 02, 2019 3:46 pm

There have been several things here which turned on a light bulb for me.

1. From Rick Ferri, sometime after the bottom of the 2009 market: Paraphrasing: "If you didn't rebalance into stocks according to your IPS, all through the market meltdown, then you had too high an allocation to equities." Then there was a further suggestion to look at your equity allocation at its lowest point (post-rebalancing) and set that as a new target allocation.

That struck home. Even though I rebalanced multiple times during that period I eventually stopped, with an equity allocation about 10% lower than my previous target. I'm now at that "new" allocation.

2. A couple of Roth conversion ideas:

The idea that each Roth conversion decision is a function of the tax rates of ALL of those who will withdraw from a tIRA (and the length of time they draw on it) until it is exhausted: the IRA owner, the surviving spouse and eventual heirs. This makes the decision much more nuanced than a simple comparison of the current owner's tax rate now vs. tax rate at RMD age. This changed the way I look at my own conversions as the eventual heir of my tIRA will be a charity with a 0% tax rate.

The idea that each partial Roth conversion decision requires a separate analysis. It isn't as simple as saying "I'll convert to the top of XX% bracket for the next Y years". As Roth balances increase and tIRA balances decline it changes the future withdrawal tax equation. I believe I've already converted a sufficient amount over the years that I will never empty the Roth and it's unlikely that RMDs only will empty the tIRA. So further conversions now will only serve to reduce the amount that will ultimately go to charity. For me it made sense to stop converting.

H-Town
Posts: 2101
Joined: Sun Feb 26, 2017 2:08 pm

Re: Best of Bogleheads - your #1 takeaway

Post by H-Town » Mon Sep 02, 2019 4:04 pm

livesoft wrote:
Sun Sep 01, 2019 8:18 am
I've been thinking about what I have take away from participating in this forum whenever this thread pops up. It is difficult to say, but perhaps one of the major takeaways for me is that people have lots and lots and lots of behavioral problems when it comes to money. They are so emotional about money that they do things against their best interests all the time. That was eye-opening for me.
This is true. For people who have no interest in investing, they can just put their savings in Target Date funds and will likely be in a better shape than most DIY investors. They can take a hit for tax inefficiencies, but as long as they can avoid costly behavioral mistakes, they would come out ahead of emotional investors.

User avatar
4nursebee
Posts: 1345
Joined: Sun Apr 01, 2012 7:56 am
Location: US

Re: Best of Bogleheads - your #1 takeaway

Post by 4nursebee » Mon Sep 02, 2019 4:24 pm

#1 takeaway, without a doubt, nothing even close second, was a book someone mentioned. I quit drinking ETOH the day I read that book.

Allen Carr Stop Drinking Now

https://www.amazon.com/Stop-Drinking-No ... 6648&psc=1
Last edited by 4nursebee on Mon Sep 02, 2019 4:29 pm, edited 1 time in total.
4nursebee

User avatar
zaboomafoozarg
Posts: 2043
Joined: Sun Jun 12, 2011 12:34 pm

Re: Best of Bogleheads - your #1 takeaway

Post by zaboomafoozarg » Mon Sep 02, 2019 4:27 pm

My biggest takeaway when I found this forum:

I didn't care about money nearly as much as I should.

User avatar
abuss368
Posts: 15976
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!

Re: Best of Bogleheads - your #1 takeaway

Post by abuss368 » Mon Sep 02, 2019 4:35 pm

Simply the best website on the internet!
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

User avatar
nedsaid
Posts: 12757
Joined: Fri Nov 23, 2012 12:33 pm

Re: Best of Bogleheads - your #1 takeaway

Post by nedsaid » Mon Sep 02, 2019 7:12 pm

Taylor Larimore wrote:
Tue Aug 27, 2019 7:38 pm
My takeaway:

The Bogleheads are a wonderful group of people who want to learn to invest successfully. I've also happily discovered that most Bogleheads are even more interested in helping others.

Best wishes.
Taylor
Jack Bogle's Words of Wisdom: "If there is a Web site that bespeaks the Golden Rule, surely the Boglehead site is its paradigm"
I am certainly 100% all in on the Golden Rule. I can't help though remembering the little King in the Wizard of Id comic strip. In a speech to the peasants, the little King said, "Remember the Golden Rule, he who has the Gold makes the rules!" I always chuckle when I think of that as it is so true. But yes, treating others as you have have people treat you is excellent advice.
A fool and his money are good for business.

Rudedog
Posts: 146
Joined: Wed Aug 01, 2018 3:15 pm

Re: Best of Bogleheads - your #1 takeaway

Post by Rudedog » Mon Sep 02, 2019 7:34 pm

Costs matter, keep costs low. Stay the course. Don't pay attention to the media and talking heads. If anyone says annuity, run the other way.

JBTX
Posts: 5535
Joined: Wed Jul 26, 2017 12:46 pm

Re: Best of Bogleheads - your #1 takeaway

Post by JBTX » Mon Sep 02, 2019 8:23 pm

Given my background, I already knew most of the core fundamentals, but seeing it here over and over again reinforced it such that I have been more proactive in acting on it, such as getting out of most of the high or moderate fee funds that I clung to, save more, max out as much as possible to tax advantaged vehicles etc.

I've also learned a lot of more detailed and related personal finance. Credit card bonus churning, mega backdoor Roth (which unfortunately I haven't been able to take advantage of), various estate planning techniques (conduit vs accumulation trusts), financial planning for special needs kids (529 ABLE, special needs trusts, etc), how to evaluate and select a 529 plan for a small company.

User avatar
noraz123
Posts: 283
Joined: Tue Jun 10, 2014 1:23 am
Location: SF Bay Area

Re: Best of Bogleheads - your #1 takeaway

Post by noraz123 » Tue Sep 03, 2019 12:51 am

Accepting market returns (ie, index funds) is an easy, guaranteed to way to beat the average return.

As William Sharpe pointed out:
If "active" and "passive" management styles are defined in sensible ways, it must be the case that

(1) before costs, the return on the average actively managed dollar will equal the return on the average passively managed dollar and

(2) after costs, the return on the average actively managed dollar will be less than the return on the average passively managed dollar

These assertions will hold for any time period. Moreover, they depend only on the laws of addition, subtraction, multiplication and division. Nothing else is required
.

Taking this one step further, it must be the case that the return on the passively managed dollar will be greater than the return of the average invested dollar.

This was my moment of zen. Ever since finding Bogleheads, embracing a 3-fund portfolio philosophy, I have tuned out all the noise and stay the course.

Also, "nobody knows nuthin'!"

illumination
Posts: 263
Joined: Tue Apr 02, 2019 6:13 pm

Re: Best of Bogleheads - your #1 takeaway

Post by illumination » Tue Sep 03, 2019 4:41 pm

For me, it was market timing.

I had never really looked at it that every day you "stay" in stocks, it really is no different than deciding that day to make a purchase.

That revelation made me much more interested in simply figuring out an asset allocation and leaving it there than strategically figuring out when to move in and out of the market.

Also, related to market timing, the scenarios that show the various "what ifs" of people who were terrible at market timing (basically buying every year at the height of the market) and still doing quite well. In fact, it was something like a 1% difference over a long time period versus someone timing it perfectly and buying at the year's low. The people that really "blew it" were the ones on the sidelines the whole time.

wilson08
Posts: 407
Joined: Wed Apr 02, 2008 2:37 pm

Re: Best of Bogleheads - your #1 takeaway

Post by wilson08 » Tue Sep 03, 2019 4:48 pm

The only thing you can control is asset allocation.

H-Town
Posts: 2101
Joined: Sun Feb 26, 2017 2:08 pm

Re: Best of Bogleheads - your #1 takeaway

Post by H-Town » Tue Sep 03, 2019 4:52 pm

wilson08 wrote:
Tue Sep 03, 2019 4:48 pm
The only thing you can control is asset allocation.
I would argue that your asset allocation changes daily as the market moves. It won't be the exact % as you had yesterday.

You can control asset location, saving rate, Roth, TLH, etc.

international001
Posts: 1162
Joined: Thu Feb 15, 2018 7:31 pm

Re: Best of Bogleheads - your #1 takeaway

Post by international001 » Tue Sep 03, 2019 6:33 pm

wilson08 wrote:
Tue Sep 03, 2019 4:48 pm
The only thing you can control is asset allocation.
And taxes

Andrew321
Posts: 97
Joined: Sat Nov 10, 2018 11:10 am

Re: Best of Bogleheads - your #1 takeaway

Post by Andrew321 » Tue Sep 03, 2019 6:50 pm

I learned the importance of frugality-I just got a raise, moved down in housing, and now save a minimum of 40% of my gross. Sure, I'm making up for lost time, but I'm happier and wealthier.

Bill Bernstein's admonitions against consumerism in "If You Can" and "The 4 Pillars of Investing" were the starting points, and many Bogleheads agree.

iamblessed
Posts: 306
Joined: Sat Jun 09, 2018 11:52 am

Re: Best of Bogleheads - your #1 takeaway

Post by iamblessed » Tue Sep 03, 2019 7:34 pm

Simplicity
stay the course
keep costs low the funds and your monthly cost (personal)
Don't take to much risk
keep taxes low

harvestbook
Posts: 697
Joined: Sat Mar 18, 2017 7:12 pm

Re: Best of Bogleheads - your #1 takeaway

Post by harvestbook » Wed Sep 04, 2019 7:51 am

Don't quit your day job. Ever.
I'm not smart enough to know, and I can't afford to guess.

LawEgr1
Posts: 177
Joined: Tue Dec 27, 2016 10:34 pm

Re: Best of Bogleheads - your #1 takeaway

Post by LawEgr1 » Wed Sep 04, 2019 8:30 am

I have learned so many things on this board, and am thankful for the knowledge sharing opportunities, learning opportunities and different perspectives.

However, what has ALWAYS been the item that stuck with me as 'best of Bogleheads' is:

Callan's Periodic Table of Investment Returns

https://www.callan.com/wp-content/uploa ... e-2019.pdf

My takeaway? I would't have been able to predict any of this, and therefore, be diversified, keep it (relatively) simple so I can live with it. That seems to be a common mantra.

ALinLI
Posts: 113
Joined: Thu Jun 02, 2011 9:04 am

Re: Best of Bogleheads - your #1 takeaway

Post by ALinLI » Wed Sep 04, 2019 8:39 am

I have learned so many things on many topics and grateful for finding this community - my top takeaway is

we Boogleheads really have found the "magic formula" for FI and building significant wealth, only downside is that will take long time on a median income so patience , oh and most of the things we debate on here probably are insignificant in the long run as long as we follow the basics

zeal
Posts: 195
Joined: Tue Dec 11, 2018 4:28 pm

Re: Best of Bogleheads - your #1 takeaway

Post by zeal » Wed Sep 04, 2019 9:05 am

So hard to rank all my takeaways and pick just one, but... for the masses I'd choose:

Make a simple plan and stick to it (AKA, 3-fund portfolio + stay the course).

Personally? Learning that I can use a Roth IRA as an emergency fund. Had I not known that, I probably wouldn't have opened one (for each of us) for another few years. Once the year is over (well, Apr 15th of the following year if you want to be technical), that Roth space is lost forever. Thanks, Bogleheads!

sschullo
Posts: 2514
Joined: Sun Apr 01, 2007 8:25 am
Location: Rancho Mirage, CA
Contact:

Re: Best of Bogleheads - your #1 takeaway

Post by sschullo » Wed Sep 04, 2019 9:14 am

HomeStretch wrote:
Tue Aug 27, 2019 2:39 pm
That successful DIY investing by the average person is possible.
+1 I totally agree!
Public School K-12 Educators: "Ask NOT what your annuity sales person can do for you, ask what you can do to be a Do-It-Yourselfer (DIY)."

international001
Posts: 1162
Joined: Thu Feb 15, 2018 7:31 pm

Re: Best of Bogleheads - your #1 takeaway

Post by international001 » Thu Sep 05, 2019 7:05 pm

livesoft wrote:
Sun Sep 01, 2019 8:18 am
I've been thinking about what I have take away from participating in this forum whenever this thread pops up. It is difficult to say, but perhaps one of the major takeaways for me is that people have lots and lots and lots of behavioral problems when it comes to money. They are so emotional about money that they do things against their best interests all the time. That was eye-opening for me.
+1, BH and other resources made me wake up one day and stop being a philistine.

I am rather rational for most things. But I had been doing stupid things with my money in my zombie-like days.

stoptothink
Posts: 6498
Joined: Fri Dec 31, 2010 9:53 am

Re: Best of Bogleheads - your #1 takeaway

Post by stoptothink » Thu Sep 05, 2019 7:20 pm

runner3081 wrote:
Tue Aug 27, 2019 2:07 pm
...also, there are a lot of people who make significantly high salaries.
+1

User avatar
abuss368
Posts: 15976
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!

Re: Best of Bogleheads - your #1 takeaway

Post by abuss368 » Thu Sep 05, 2019 7:33 pm

How independent objective the Bogleheads are. Always willing to lend a hand and teach Me. Bogle’s investment lessons.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

User avatar
fortyofforty
Posts: 1651
Joined: Wed Mar 31, 2010 12:33 pm

Re: Best of Bogleheads - your #1 takeaway

Post by fortyofforty » Thu Sep 05, 2019 7:56 pm

As was stated before: Nobody knows nothin'. Every time I think I do, I am humbled by Mr. Market. (Jack mentioned that in at least one of his books, so I had read it there first.)

From the website, tax loss harvesting has saved me a lot of real money in taxes.

ETA: Also "backdoor" Roth (thanks for the reminder tony_roach).
Last edited by fortyofforty on Thu Sep 05, 2019 8:17 pm, edited 1 time in total.
Indexing works, not because of magic, but because of math. | Diligentia. Vis. Celeritas. - Jeff Cooper | Original Vanguard Diehard

tony_roach
Posts: 92
Joined: Sun Nov 19, 2017 2:05 pm
Location: Philadelphia

Re: Best of Bogleheads - your #1 takeaway

Post by tony_roach » Thu Sep 05, 2019 7:57 pm

-Backdoor Roth: the board helped me clear out pre and post tax dollars in an IRA so I could do backdoor roth
-Spousal IRA: confirmed I could do a spousal IRA for stay at home DW through an additional backdoor roth
-IPS: helped me define an investment policy statement
-Company Compensation: helped me to better understand how to diversify away from my company compensation (sell RSU's right away, maximize the time value of NQSO and determine if ESPP makes sense depending on long hold periods)
-Simplification in all accounts: I was already on board with the low cost investing approach in my retirement accounts but the site also helped me clean up my taxable account which I used to buy individual stocks (many dividend paying stocks) but shifted to low cost index ETF's to focus on total return and simplify my portfolio
-I learned about the mega backdoor roth, I just can't do it at my employer.

User avatar
firebirdparts
Posts: 339
Joined: Thu Jun 13, 2019 4:21 pm

Re: Best of Bogleheads - your #1 takeaway

Post by firebirdparts » Fri Sep 06, 2019 10:45 am

LawEgr1 wrote:
Wed Sep 04, 2019 8:30 am

Callan's Periodic Table of Investment Returns

https://www.callan.com/wp-content/uploa ... e-2019.pdf

My takeaway? I would't have been able to predict any of this, and therefore, be diversified, keep it (relatively) simple so I can live with it. That seems to be a common mantra.
I'm with you. This is the coolest. I admit I am taking for granted all of the foundational items when I say this one is the one that interests me the most.
A fool and your money are soon partners

Sandi_k
Posts: 1108
Joined: Sat May 16, 2015 11:55 am
Location: SF Bay Area

Re: Best of Bogleheads - your #1 takeaway

Post by Sandi_k » Fri Sep 06, 2019 11:54 am

I was already a Boglehead before I found this site. What have I learned and done, since finding this site?

- An IPS - it made me think long and hard about what I valued and thought and believed about investments.

- The only things I can control are my savings rate, and low fee investing.

- For the first time, I started thinking about withdrawal strategies. And I learned about SoR risks. So I spent some time reading about SWR, VPW, the 4% rule, etc. If I had to pick only one thing - it would be this. I now have confidence that we know how to withdraw our funds in a responsible way, partnered with a pension and SocSecurity.

RJC
Posts: 379
Joined: Fri Dec 14, 2018 1:40 pm

Re: Best of Bogleheads - your #1 takeaway

Post by RJC » Fri Sep 06, 2019 12:20 pm

Just knowing where to invest. I've always heard folks saying you should invest your money but to understand where things should be (order of investments, etc.) outside of a traditional 401k.

Thank you Bogleheads!

deltaneutral83
Posts: 1337
Joined: Tue Mar 07, 2017 4:25 pm

Re: Best of Bogleheads - your #1 takeaway

Post by deltaneutral83 » Fri Sep 06, 2019 12:34 pm

-Determine your risk tolerance and be conservative in the initial assessment. Add 10% more bonds than you think you need, and re adjust after your first bear market when the cat is out of the bag
- Simplicity and have no ego
-Nobody knows Nothing
-Drive a 14 year old Corolla

billlumber1981
Posts: 8
Joined: Fri Sep 06, 2019 9:28 am

Re: Best of Bogleheads - your #1 takeaway

Post by billlumber1981 » Fri Sep 06, 2019 12:47 pm

The email car buying strategies discussed on this forum.

I never would have thought that by easily emailing dealerships from the comfort of my own home, I could negotiate on my terms and secure the best out the door (OTD) offer. I was able to save $1,250 by doing this simple, easy procedure.

I ask around and no one has ever heard of doing this. Most people go to the dealership and accept whatever the dealer tells them. As long as it is below MSRP, then they will assume that they "got a good deal" even though they could have gotten a much better deal by putting the dealers into a price bidding war.

Sandi_k
Posts: 1108
Joined: Sat May 16, 2015 11:55 am
Location: SF Bay Area

Re: Best of Bogleheads - your #1 takeaway

Post by Sandi_k » Sat Sep 14, 2019 7:43 pm

Really? Wow.

I've been dealing with car dealers this way since 1997, when I bought a Subaru Legacy wagon using a fax machine. ;)

Email is much easier.
billlumber1981 wrote:
Fri Sep 06, 2019 12:47 pm
The email car buying strategies discussed on this forum.

I never would have thought that by easily emailing dealerships from the comfort of my own home, I could negotiate on my terms and secure the best out the door (OTD) offer. I was able to save $1,250 by doing this simple, easy procedure.

I ask around and no one has ever heard of doing this. Most people go to the dealership and accept whatever the dealer tells them. As long as it is below MSRP, then they will assume that they "got a good deal" even though they could have gotten a much better deal by putting the dealers into a price bidding war.

kommisarrex
Posts: 96
Joined: Mon Oct 25, 2010 11:45 pm

Re: Best of Bogleheads - your #1 takeaway

Post by kommisarrex » Sat Sep 14, 2019 11:11 pm

#1 practical takeaway - index funds

#1 philosophical takeaway - “need, willingness, and ability to take risk.”

Reframing things in terms of risk and your personal situation was really a big mind shift for me. It’s also the thing I find myself taking about the most in conversations with friends and colleagues about finances and retirement.

User avatar
Mel Lindauer
Moderator
Posts: 29927
Joined: Mon Feb 19, 2007 8:49 pm
Location: Daytona Beach Shores, Florida
Contact:

Re: Best of Bogleheads - your #1 takeaway

Post by Mel Lindauer » Sun Sep 15, 2019 7:05 am

I'm surprised that I haven't seen what I consider to be the #1 lesson folks need to learn. None of the other things listed in this thread can happen if you don't follow rule #1 which is:

Learn to live below your means.
Best Regards - Mel | | Semper Fi

User avatar
abuss368
Posts: 15976
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!

Re: Best of Bogleheads - your #1 takeaway

Post by abuss368 » Sun Sep 15, 2019 7:52 am

Mel Lindauer wrote:
Sun Sep 15, 2019 7:05 am
I'm surprised that I haven't seen what I consider to be the #1 lesson folks need to learn. None of the other things listed in this thread can happen if you don't follow rule #1 which is:

Learn to live below your means.
Best advice that be given to anyone and is the key to financial success.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

User avatar
MNGopher
Posts: 445
Joined: Tue Jun 16, 2015 1:44 pm
Location: Minnesota

Re: Best of Bogleheads - your #1 takeaway

Post by MNGopher » Sun Sep 15, 2019 8:37 am

I was amazed by the amount of useful information in the Rick Van Ness videos on this site. In about 30 minutes you learn most of what you need to get started.

sschullo
Posts: 2514
Joined: Sun Apr 01, 2007 8:25 am
Location: Rancho Mirage, CA
Contact:

Re: Best of Bogleheads - your #1 takeaway

Post by sschullo » Sun Sep 15, 2019 8:54 am

I discovered back in the 60s and 70s to question all authorities, grow long hair, attended countless encounter groups, discovering meditation, but one principal that I never forgot was rejecting materialism. Everybody talks about this, studies were published and agrees that material junk doesn't make you happy long term, but so few live below one's means. Despite all of the massive financial mistakes I experienced and bitterly learned over a couple of decades, I STILL retired early (earlier than the traditional age of 65 for my generation) at 60, and my late husband retired at 59. And it is all because I paid myself first by living below my means, even in a high standard of living location, Los Angeles.

I was a natural at living below my means and was lucky enough to discover this very simple principle 50 years ago, and finally found a whole lot of support on this forum and with the younger generations FI and FIRE movements.
Public School K-12 Educators: "Ask NOT what your annuity sales person can do for you, ask what you can do to be a Do-It-Yourselfer (DIY)."

dknightd
Posts: 1860
Joined: Wed Mar 07, 2018 11:57 am

Re: Best of Bogleheads - your #1 takeaway

Post by dknightd » Sun Sep 15, 2019 8:57 am

I learned you can never make more time

njuser
Posts: 188
Joined: Thu May 15, 2008 11:10 am

Re: Best of Bogleheads - your #1 takeaway

Post by njuser » Sun Sep 15, 2019 8:58 am

There are so many helpful posters here. If I could only read one forum, this would be it. Biggest thing I learned was to understand my risk tolerance, and that it is different for everyone. Also living below our means and being able to tune out the opinions of friends and relatives. That last one is more annoying than anything; it's a learned skill.

Dottie57
Posts: 7118
Joined: Thu May 19, 2016 5:43 pm
Location: Earth Northern Hemisphere

Re: Best of Bogleheads - your #1 takeaway

Post by Dottie57 » Sun Sep 15, 2019 9:00 am

Mel Lindauer wrote:
Sun Sep 15, 2019 7:05 am
I'm surprised that I haven't seen what I consider to be the #1 lesson folks need to learn. None of the other things listed in this thread can happen if you don't follow rule #1 which is:

Learn to live below your means.
It may be that many here already knew that part of the puzzle.

Colorado13
Posts: 961
Joined: Thu Apr 07, 2011 4:58 pm
Location: Colorado

Re: Best of Bogleheads - your #1 takeaway

Post by Colorado13 » Sun Sep 15, 2019 12:14 pm

new2bogle wrote:
Tue Aug 27, 2019 2:42 pm
muffins14 wrote:
Tue Aug 27, 2019 2:40 pm
Becoming informed of the existence of the mega-backdoor Roth
Ok this one too - thanks Bogleheads for informing me of such a great feature of the tax code!!

+1

User avatar
oldzey
Posts: 1389
Joined: Sun Apr 13, 2014 8:38 pm
Location: Land of Lincoln

Re: Best of Bogleheads - your #1 takeaway

Post by oldzey » Sun Sep 15, 2019 12:22 pm

Mel Lindauer wrote:
Sun Sep 15, 2019 7:05 am
I'm surprised that I haven't seen what I consider to be the #1 lesson folks need to learn. None of the other things listed in this thread can happen if you don't follow rule #1 which is:

Learn to live below your means.
+1
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

User avatar
Taylor Larimore
Advisory Board
Posts: 28809
Joined: Tue Feb 27, 2007 8:09 pm
Location: Miami FL

The Boglehead Philosophy

Post by Taylor Larimore » Sun Sep 15, 2019 1:17 pm

LilyFleur wrote:
Tue Aug 27, 2019 12:55 pm
What is the single most useful piece of knowledge that you have learned here at Bogleheads?
LilyFleur:

The Boglehead Philosophy:

1 Develop a workable plan
2 Invest early and often
3 Never bear too much or too little risk
4 Diversify
5 Never try to time the market
6 Use index funds when possible
7 Keep costs low
8 Minimize taxes
9 Invest with simplicity
10 Stay the course

Best wishes.
Taylor
Jack Bogle's Words of Wisdom: "Stay the Course. No matter what happens, stick to your program. I've said "Stay the course" a thousand times, and I meant it every time. It is the most important single piece of investment wisdom I can give to you.-- But before you stay the course, make sure you're on the right course."
"Simplicity is the master key to financial success." -- Jack Bogle

User avatar
abuss368
Posts: 15976
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!

Re: Best of Bogleheads - your #1 takeaway

Post by abuss368 » Mon Sep 16, 2019 3:31 pm

One of my biggest experiences and takeaway's is the focus on simplicity. Life is definitely much better and easier. For that I will always be thankful to Mr. Bogle and the Bogleheads.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

User avatar
abuss368
Posts: 15976
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!

Re: Best of Bogleheads - your #1 takeaway

Post by abuss368 » Mon Sep 16, 2019 3:32 pm

Also, the simplicity that we learned in our financial lives is now carrying over to our non-financial lives. My wife and I are much happier, less clutter, less waste, and surprised about how much worrying and thinking it has eliminated.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

Post Reply