Book Recommendations for a new Boglehead

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Tanman4223
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Book Recommendations for a new Boglehead

Post by Tanman4223 » Mon Jul 09, 2018 2:10 pm

Hello everyone! First and foremost, I want to thank all of you for knowledge and insight you have given me throughout this forum. I only found this plethora of information about a month ago and have been hooked ever since. To give a little back drop, I was very interested in retirement savings as I am merely 26 years old and fairly frugal with very investing experience; I was scouring for advice when I was recommended to check out Dave Ramsey's website/podcasts. While I will admit that his debt reduction information was decent (not very applicable to me), I raised an eyebrow upon hearing his investing advice. After conducting a little research into his "recommended" actively managed funds and a jaw-dropping discovery of front-load expenses I thought, there's no way this is the most effective way to invest. Low and behold, I stumbled upon the Boglehead website. I once was blind and am now at peace with my retirement investing allocations.
Now that my long-winded thank you is out of the way, what books would any of you recommend to an avid reader and Bogle enthusiast? I have just finished "The Millionaire Next Door," and was thoroughly impressed and surprised. I have made notes to check out all the literature listed in the Wiki but am also curious as to everyone's suggestions/favorites.

Tanner

2015
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Re: Book Recommendations for a new Boglehead

Post by 2015 » Mon Jul 09, 2018 4:48 pm

I recommend reading Taylor's Gems on this site and go from there. You might call each "Gem" a brief preview of each book covered. You could then decide the read which books you found most applicable to what more you're looking to learn.

Howard Donnelly
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Re: Book Recommendations for a new Boglehead

Post by Howard Donnelly » Mon Jul 09, 2018 5:01 pm

I highly recommend The Millionaire in You, by Michael LeBoeuf. Terrific book!

Fallible
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Re: Book Recommendations for a new Boglehead

Post by Fallible » Mon Jul 09, 2018 5:05 pm

Welcome to the forum!

A good book list awaits you from the Bogleheads' wiki:

https://www.bogleheads.org/wiki/Books:_ ... nd_reviews
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

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lthenderson
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Re: Book Recommendations for a new Boglehead

Post by lthenderson » Mon Jul 09, 2018 5:45 pm

https://www.amazon.com/Bogleheads-Guide ... 1118921283

https://www.amazon.com/Bogleheads-Guide ... 0470919019

I've lost several copies of each from loaning them out so now I keep a few of each on hand.

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Whiggish Boffin
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Re: Book Recommendations for a new Boglehead

Post by Whiggish Boffin » Mon Jul 09, 2018 5:50 pm

Dr. William Bernstein wrote If You Can: How Millennials Can Get Rich Slowly. It's a 15-page paper that you can download, for free, from the link. You read it twice -- once for the gist, and once for the reading assignments. If you absorb what's in the assigned books, you'll be giving us advice pretty soon.

The first assignment is The Millionaire Next Door, so you're already on your way. This book gives motivation for saving and investing from the start of your working life.

The second assignment is Jack Bogle's Common Sense on Mutual Funds. You can't go wrong with this. It covers the theory of investing, and the business of investing.

The next assignments are:

Edward Chancellor's Devil Take the Hindmont
Benjamin Roth's The Great Depression: A Diary
These cover the history of investing, so you'll recognize it when the markets go crazy.

Jason Zweig's Your Money and Your Brain
This covers the psychology of investing, so (maybe) you'll recognize it when you are about to go crazy.

Rick Ferri's All About Asset Allocation
Allan Roth's How a Second Grader Beats Wall Street
These cover the business of investment. (So does Bogle.) Bernstein says "Act as if every broker, insurance salesman, mutual-fund salesperson and financial advisor you encounter is a hardened criminal, and stick with low-cost index funds, and you'll do just fine."

Dr. Bernstein has written some good ones. He didn't plug them in If You Can because he's classy like that. If you are not driven off by mathematics, try The Intelligent Asset Allocator. Definitely get to The Four Pillars of Investing.

[Edited for spelling.]
Last edited by Whiggish Boffin on Sat Jul 21, 2018 1:38 pm, edited 1 time in total.

DesertDiva
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Re: Book Recommendations for a new Boglehead

Post by DesertDiva » Mon Jul 09, 2018 6:03 pm

In addition to "The Millionaire Next Door":
  • "The Little Book of Common Sense Investing", John C Bogle
  • "The Bogleheads' Guide to Investing (Second Edition)", Taylor Larimore, Mel Lindauer & Michael LeBoeuf
These books are enough to help you develop a plan and stay the course, in addition to reading bogleheads.org

youngpleb
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Re: Book Recommendations for a new Boglehead

Post by youngpleb » Mon Jul 09, 2018 6:19 pm

All of the above is great advice. I'd also recommend "A Random Walk Down Wall Street" once you've read through a few of the above. It helped me get rid of that itch to add an active fund to my portfolio :mrgreen:
27. Always learning.

Tanman4223
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Re: Book Recommendations for a new Boglehead

Post by Tanman4223 » Tue Jul 10, 2018 4:51 am

Thank you all for your suggestions. Between work and school part-time, I’ll be trying to dovetail some of these books in. There’s never enough time in the day. :beer

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