Boglehead Financial Literacy Certification?

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fortfun
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Boglehead Financial Literacy Certification?

Post by fortfun » Fri Aug 30, 2019 12:18 pm

Has there ever been any discussion of creating a Boglehead financial literacy exam and certification? Either through Bogleheads or the non-profit financial literacy group that supports it? It could cover the information contained on the Wiki. Of course, it wouldn't give you a license or legal authority to do financial advising, however; it could be helpful for those who are interested in volunteering at libraries and schools to deliver basic information that is recommended on the wiki. Here is a similar idea:
https://www.wise-ny.org/programs-servic ... educators/

The Boglehead philosophy is simple and badly needed by almost everyone I've met. This seems like a really wonderful way to get the word out and to help people from being taken advantage of by unscrupulous individuals.

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David Jay
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Re: Boglehead Financial Literacy Certification?

Post by David Jay » Fri Sep 06, 2019 1:03 pm

Are you volunteering your time and effort to create the program and then administer it?

BH is an all volunteer effort and it would require a lot of administrative workload to do something like that.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

3504PIR
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Re: Boglehead Financial Literacy Certification?

Post by 3504PIR » Fri Sep 06, 2019 4:25 pm

The real test and certification has two parts; one when you retire and the other when you pass away.

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David Jay
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Re: Boglehead Financial Literacy Certification?

Post by David Jay » Fri Sep 06, 2019 5:21 pm

Cool, Part 1 completed.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

Grt2bOutdoors
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Re: Boglehead Financial Literacy Certification?

Post by Grt2bOutdoors » Fri Sep 06, 2019 5:49 pm

Well, I flunked. Not retired and still here.
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Iridium
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Re: Boglehead Financial Literacy Certification?

Post by Iridium » Fri Sep 06, 2019 10:48 pm

It is an interesting thought, but I think a full blown 'certification' would be overkill and not in keeping with the forum's culture, which tends to be highly suspicious of anyone calling themselves an expert and generally keeping their financial approach close to the vest. Unless the test is aimed at financial advisors, I am not sure folks taking the test would derive much value out of an official certification.

However, I could see folks getting together to create a Boglehead final exam page on the wiki. Think of it as a DIY certification. Sure, you can cheat, but just like cheating on one's IPS, they would just be hurting themselves. And everyone else saves the $300 testing center fee and nobody is tempted to appeal to authority ('I'm a certified Boglehead and I say...').

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SevenBridgesRoad
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Re: Boglehead Financial Literacy Certification?

Post by SevenBridgesRoad » Sat Sep 07, 2019 1:07 am

Which Boglehead gets to grade the exam questions about:

International allocation

Factors

Rock polisher: Which one to buy?

Paying off mortgage early

SWR

Fidelity vs Vanguard

Bonus essay question: Are FIRE Folks really retired? Discuss.
Retired 2018 age 61 | "Not using an alarm is one of the great glories of my life." Robert Greene

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Stinky
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Re: Boglehead Financial Literacy Certification?

Post by Stinky » Sat Sep 07, 2019 5:05 am

SevenBridgesRoad wrote:
Sat Sep 07, 2019 1:07 am
Which Boglehead gets to grade the exam questions about:

International allocation

Factors

Rock polisher: Which one to buy?

Paying off mortgage early

SWR

Fidelity vs Vanguard

Bonus essay question: Are FIRE Folks really retired? Discuss.
You missed two questions:
Are stocks soaring, or are they in free fall? Discuss.

Does Hedgefundie’s strategy really work?
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Elena
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Re: Boglehead Financial Literacy Certification?

Post by Elena » Sat Sep 07, 2019 6:12 am

LOL. Thank you for the morning laughs. I needed them.

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fortyofforty
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Re: Boglehead Financial Literacy Certification?

Post by fortyofforty » Sat Sep 07, 2019 7:23 am

Years ago, Morningstar had a series of "classes" on investing, laid out like a college curriculum, if I remember correctly. I believe I even printed them out to read at my leisure. I found that series very helpful. Perhaps something along those lines would be good.
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | Diligentia. Vis. Celeritas. - Jeff Cooper | Original Vanguard Diehard

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David Jay
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Re: Boglehead Financial Literacy Certification?

Post by David Jay » Sat Sep 07, 2019 8:28 am

SevenBridgesRoad wrote:
Sat Sep 07, 2019 1:07 am
Rock polisher: Which one to buy?
Silly boy. Everybody knows the answer to that one...
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

mhalley
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Re: Boglehead Financial Literacy Certification?

Post by mhalley » Sat Sep 07, 2019 12:42 pm

Most important question, which 5k watch to buy?

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Eagle33
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Re: Boglehead Financial Literacy Certification?

Post by Eagle33 » Sat Sep 07, 2019 2:46 pm

fortyofforty wrote:
Sat Sep 07, 2019 7:23 am
Years ago, Morningstar had a series of "classes" on investing, laid out like a college curriculum, if I remember correctly. I believe I even printed them out to read at my leisure. I found that series very helpful. Perhaps something along those lines would be good.
By chance is this the series of classes you were referencing?
Morningstar Investing Classroom
Rocket science is not “rocket science” to a rocket scientist, just as personal finance is not “rocket science” to a Boglehead.

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fortyofforty
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Re: Boglehead Financial Literacy Certification?

Post by fortyofforty » Sat Sep 07, 2019 3:06 pm

Eagle33 wrote:
Sat Sep 07, 2019 2:46 pm
fortyofforty wrote:
Sat Sep 07, 2019 7:23 am
Years ago, Morningstar had a series of "classes" on investing, laid out like a college curriculum, if I remember correctly. I believe I even printed them out to read at my leisure. I found that series very helpful. Perhaps something along those lines would be good.
By chance is this the series of classes you were referencing?
Morningstar Investing Classroom
Not sure. Without logging in, I can't view it, and I haven't logged in in years. That sounds like the right name, though.
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | Diligentia. Vis. Celeritas. - Jeff Cooper | Original Vanguard Diehard

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fortfun
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Re: Boglehead Financial Literacy Certification?

Post by fortfun » Mon Sep 09, 2019 7:07 pm

David Jay wrote:
Fri Sep 06, 2019 1:03 pm
Are you volunteering your time and effort to create the program and then administer it?

BH is an all volunteer effort and it would require a lot of administrative workload to do something like that.
Yes, I would happy to assist with this. Everything could be automated. Of course, I would like feedback from the BH forum. It would just be for those who would like to volunteer at schools and libraries to discuss basic financial literacy based on the principles of this group.

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joe8d
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Re: Boglehead Financial Literacy Certification?

Post by joe8d » Mon Sep 09, 2019 8:05 pm

3504PIR wrote:
Fri Sep 06, 2019 4:25 pm
The real test and certification has two parts; one when you retire and the other when you pass away.
Yes, Part 2. More attention needed to deal with your end of life and final wishes planning:

Will
Health Care Proxy
POA
List of assets and location
ACH Bill paying setups
Funeral Pre-plan
and many other thing's

I've been doing these things myself even to the point writing my own Obit.
All the Best, | Joe

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David Jay
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Re: Boglehead Financial Literacy Certification?

Post by David Jay » Mon Sep 09, 2019 10:49 pm

joe8d wrote:
Mon Sep 09, 2019 8:05 pm
I've been doing these things myself even to the point writing my own Obit.
Turns out you really were a great scholar, athlete, executive, philanthropist and statesman. :happy
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

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fortyofforty
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Re: Boglehead Financial Literacy Certification?

Post by fortyofforty » Tue Sep 10, 2019 5:56 am

David Jay wrote:
Mon Sep 09, 2019 10:49 pm
joe8d wrote:
Mon Sep 09, 2019 8:05 pm
I've been doing these things myself even to the point writing my own Obit.
Turns out you really were a great scholar, athlete, executive, philanthropist and statesman. :happy
And modest. Don't forget modest.
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | Diligentia. Vis. Celeritas. - Jeff Cooper | Original Vanguard Diehard

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joe8d
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Re: Boglehead Financial Literacy Certification?

Post by joe8d » Tue Sep 10, 2019 8:44 pm

David Jay wrote:
Mon Sep 09, 2019 10:49 pm
joe8d wrote:
Mon Sep 09, 2019 8:05 pm
I've been doing these things myself even to the point writing my own Obit.
Turns out you really were a great scholar, athlete, executive, philanthropist and statesman. :happy
And "The Richest Man in Graveyard"
All the Best, | Joe

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