#bogleheads

[uovoc]

From tumblrposting it may appear that I spend all my time thinking about fictional characters. However that takes up only about 10% of my time. I have wide and varied interests. Including birding. And figuring out how to lean FIRE.

[antonjesus]

John Bogle's 10 Rules of Investing (Founder of Vanguard) [Bogleheads Gui...

[mccareer]

Finance Friday Articles

2024 Bogleheads Conference Videos Finding Contentedness How To Avoid Investment Fruit Loops My Favorite Investment Writing of 2024 My Rule for Avoiding Lifestyle Creep: Don’t Live Beyond Your Assets Pennies and the Backdoor Roth IRA Pick Your Peril The 4 Types of Investment Mistakes We’re too obsessed with cash Why I Don’t Invest in Real Estate

[passiveincomemoney]

25 Must-Read Resources for Managing Personal Finances

Navigating the vast ocean of personal finance information can be daunting. With countless resources available, it's crucial to find reliable and insightful sources that can guide you through the complexities of managing your money. To help you stay informed and make empowered financial decisions, here's an ultimate list of 25 sources, ranging from websites to podcasts, that offer valuable advice, practical tips, and up-to-date financial news.

Harvard Business Review: Offers a range of articles on personal finance management, with a focus on overcoming limiting beliefs about money and building a diverse investment portfolio.

Enrichest: Curates expert advice and resources across various personal finance topics, helping you achieve your financial goals.

Policygenius: Provides a list of the best websites for learning about money, covering everything from budgeting to investing.

Lifehack: Features a selection of valuable websites that offer free personal finance education and resources.

Mint: A comprehensive tool for budget tracking and financial planning.

NerdWallet: Offers in-depth reviews and comparisons of financial products, alongside helpful guides.

Investopedia: A go-to resource for financial education, offering clear explanations of complex financial concepts.

The Simple Dollar: Provides practical financial advice and personal narratives to help you manage your money better.

Wise Bread: A community of bloggers specializing in frugal living, personal finance, and money-saving strategies.

The Penny Hoarder: Focuses on unique ways to earn, save, and manage money.

HerMoney: Tailored financial advice for women, covering a range of topics from investing to retirement planning.

Ellevest: A financial company that empowers women with investment strategies and financial planning.

Entrepreneur: Offers insights into the financial aspect of starting and growing a business.

The Financial Diet: Discusses personal finance in the context of lifestyle choices and habits.

Mr. Money Mustache: Advocates for financial freedom through frugality and smart investing.

Bogleheads: Follows the investment philosophy of John Bogle, focusing on low-cost index fund investing.

The Balance: Provides comprehensive guides, articles, and reviews on personal finance.

Money Under 30: Offers financial advice specifically tailored for young adults.

Financial Samurai: Delivers in-depth analysis and discussions on wealth management and financial independence.

Afford Anything: Explores the concept that you can afford anything but not everything, emphasizing smart financial choices.

The Mad Fientist: Focuses on financial independence and early retirement strategies.

Dough Roller: Aims to help readers make sense of the complex world of finance and investing.

Get Rich Slowly: Shares personal stories and lessons on building wealth slowly and steadily.

The White Coat Investor: Provides financial advice for high-income professionals, particularly in the medical field.

Econlife: Breaks down economic concepts and their impact on everyday life and personal finance.

These sources are just the tip of the iceberg when it comes to personal finance education. They offer a blend of perspectives, from professional financial advisors to individuals sharing their personal journeys toward financial stability. By exploring these resources, you'll gain a well-rounded understanding of personal finance and find strategies that resonate with your financial situation and goals.

Remember, staying informed is a continuous process, and these sources can be your companions on the journey to financial literacy and independence. Happy learning!

[financebloging]

50 Best personal finance books

Understanding how to handle your money is super important, and that's what personal finance education is all about. It's like having a guide that helps you make smart decisions with your cash. Learning about personal finance isn't just about numbers; it's also about seeing things from different angles. Different people have different ways of dealing with money, and that's what makes learning from diverse perspectives so cool. It's like getting advice from various friends who've been through different money adventures. Now, why are we making a list of the 50 best personal finance books? Well, think of it as putting together a collection of super helpful tools. Books are like treasure chests of knowledge, and with this list, we're giving you a bunch of these treasures in this best personal finance books guide. No matter if you're a money pro or just starting, these books are here to share tips, tricks, and wisdom from lots of smart people. So, let's dive into the world of money wisdom and see how these books can help you on your financial journey! Here are 50 of the best personal finance books available today: - "The Richest Man in Babylon" by George S. Clason - "Think and Grow Rich" by Napoleon Hill - "Your Money or Your Life" by Vicki Robin and Joe Dominguez - "The Millionaire Next Door" by Thomas J. Stanley and William D. Danko - "Rich Dad Poor Dad" by Robert T. Kiyosaki - "The Total Money Makeover" by Dave Ramsey - "Nudge" by Richard H. Thaler and Cass R. Sunstein - "Predictably Irrational" by Dan Ariely - "The Intelligent Investor" by Benjamin Graham - "A Random Walk Down Wall Street" by Burton G. Malkiel - "Broke Millennial" by Erin Lowry - "I Will Teach You to Be Rich" by Ramit Sethi - "The Bogleheads' Guide to Investing" by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf - "The Automatic Millionaire" by David Bach - "The Lean Startup" by Eric Ries - "The $100 Startup" by Chris Guillebeau - "The Budgeting Habit" by S.J. Scott and Rebecca Livermore - "Smart Women Finish Rich" by David Bach - "The Index Card" by Helaine Olen and Harold Pollack - "The ABCs of Real Estate Investing" by Ken McElroy - "Rich Bitch" by Nicole Lapin - "The Four-Hour Workweek" by Timothy Ferriss - "The Little Book of Common Sense Investing" by John C. Bogle - "Money: Master the Game" by Tony Robbins - "The Simple Path to Wealth" by J.L. Collins - "Women & Money" by Suze Orman - "The Behavior Gap" by Carl Richards - "The Millionaire Fastlane" by MJ DeMarco - "The Wealthy Barber" by David Chilton - "The Millionaire Real Estate Investor" by Gary Keller - "The 5 Mistakes Every Investor Makes and How to Avoid Them" by Peter Mallouk - "You Are a Badass at Making Money" by Jen Sincero - "The One-Page Financial Plan" by Carl Richards - "The Power of Broke" by Daymond John - "Your Score: An Insider's Secrets to Understanding, Controlling, and Protecting Your Credit Score" by Anthony Davenport - "The Money Book for the Young, Fabulous & Broke" by Suze Orman - "The Art of Money" by Bari Tessler - "The Million-Dollar, One-Person Business" by Elaine Pofeldt - "The Millionaire Mind" by Thomas J. Stanley - "The Millionaire Real Estate Agent" by Gary Keller - "The Truth About Money" by Ric Edelman - "The Soul of Money" by Lynne Twist - "The Millionaire Messenger" by Brendon Burchard - "The Financial Diet" by Chelsea Fagan and Lauren Ver Hage - "The Little Book of Value Investing" by Christopher H. Browne - "The Elements of Investing" by Burton G. Malkiel and Charles D. Ellis - "Money Rules" by Jean Chatzky - "The Automatic Customer" by John Warrillow - "The Millionaire in the Mirror" by Gene Bedell - "The Millionaire Real Estate Mindset" by Russ Whitney" Read the full article

[desertrosew]

The Bogleheads' Guide to Investing

[techniver]

I am growing a dividend investment community on Medium.com. I want to do some marketing for it. What platforms are good for engaging writers and readers?

Platforms that are good for engaging writers and readers in your dividend investment community on Medium.com:

Social media:

Twitter: Twitter is a great platform for connecting with other dividend investors and sharing news and insights about dividend investing. You can use Twitter to promote your Medium blog, share links to your articles, and participate in discussions about dividend investing.

Facebook: Facebook is another great platform for connecting with dividend investors. You can create a Facebook group for your Medium community, share your articles on your Facebook page, and join other dividend investing groups on Facebook.

LinkedIn: LinkedIn is a professional networking site that can be a good place to connect with other dividend investors. You can share your articles on LinkedIn, join groups related to dividend investing, and participate in discussions about dividend investing.

Online forums and communities:

Seeking Alpha: Seeking Alpha is a popular financial website with a large community of dividend investors. You can create a profile on Seeking Alpha and participate in discussions about dividend investing. You can also use Seeking Alpha to promote your Medium blog.

Bogleheads: Bogleheads is a forum for investors who follow the principles of index investing. There is a subforum on Bogleheads for dividend investing. You can participate in discussions about dividend investing and promote your Medium blog.

Dividend Growth Investor: Dividend Growth Investor is a website and forum dedicated to dividend investing. You can participate in discussions about dividend investing and promote your Medium blog.

Other marketing ideas:

Guest blogging: You can guest blog on other websites related to dividend investing. This is a great way to get your name out there and reach a wider audience.

Email marketing: You can build an email list of subscribers and send them regular updates about your Medium blog. This is a great way to keep your audience engaged and coming back for more.

Paid advertising: You can use paid advertising to reach a wider audience. This can be a good way to promote your Medium blog or to drive traffic to your website.

[tamtamaratam-blog]

FINANCIAL EDUCATION:

Certainly! Here's a list of suggested books, videos, and materials for each point of the financial education program:

Personal Finance Basics:

Book: "The Total Money Makeover" by Dave Ramsey

Video: "Budgeting 101" by Khan Academy

Material: Budgeting templates and worksheets

Financial Goal Setting:

Book: "Your Money or Your Life" by Vicki Robin and Joe Dominguez

Video: "Setting Financial Goals" by The Financial Diet

Material: Goal-setting worksheet and visualization exercises

Banking and Financial Institutions:

Book: "The Money Book for the Young, Fabulous & Broke" by Suze Orman

Video: "How Banks Work" by Learn Liberty

Material: Online banking simulation or case studies

Credit and Debt Management:

Book: "Debt-Free Forever: Take Control of Your Money and Your Life" by Gail Vaz-Oxlade

Video: "Understanding Credit and Credit Scores" by Khan Academy

Material: Sample credit reports and interactive debt repayment calculators

Investing and Wealth Building:

Book: "The Intelligent Investor" by Benjamin Graham

Video: "Investing for Beginners" by Investopedia

Material: Simulated stock market portfolios and investment research tools

Taxes and Tax Planning:

Book: "J.K. Lasser's Your Income Tax 2023: For Preparing Your 2022 Tax Return" by J.K. Lasser

Video: "Tax Basics: Introduction to Taxation" by TurboTax

Material: Sample tax forms and interactive tax calculators

Introduction to Entrepreneurship:

Book: "The Lean Startup" by Eric Ries

Video: "How to Start a Startup" by Stanford University

Material: Business plan templates and case studies of successful startups

Consumer Rights and Financial Protection:

Book: "Consumer Reports Buying Guide 2023" by Consumer Reports

Video: "Understanding Your Rights as a Consumer" by Federal Trade Commission

Material: Sample consumer complaints and guides on avoiding scams

Retirement Planning:

Book: "The Bogleheads' Guide to Retirement Planning" by Taylor Larimore, Mel Lindauer, and Richard A. Ferri

Video: "Retirement Planning Basics" by NerdWallet

Material: Retirement savings calculators and retirement income projections

Financial Decision-Making:

Book: "Thinking, Fast and Slow" by Daniel Kahneman

Video: "The Art of Decision Making" by TED-Ed

Material: Case studies with decision-making frameworks and exercises

Financial Ethics and Social Responsibility:

Book: "Doing Well and Good: The Human Face of the New Capitalism" by Willie Pieterson

Video: "The Moral Roots of Liberals and Conservatives" by TED Talk with Jonathan Haidt

Material: Discussions on ethical dilemmas and real-life examples of socially responsible investing

Financial Technology and Innovation:

Book: "The Fintech Book: The Financial Technology Handbook for Investors, Entrepreneurs, and Visionaries" by Susanne Chishti and Janos Barberis

Video: "How Fintech Is Changing Finance" by CNBC

Material: Case studies on fintech startups and demonstrations of digital payment platforms

These resources provide a range of educational materials to supplement the financial education program, including books for in-depth knowledge, videos for visual learning, and interactive materials to engage students actively. Remember to

[highdeman]

10 highly recommended books for financial education

1.“The Intelligent Investor” by Benjamin Graham — This classic book teaches the principles of value investing and how to analyze stocks to make informed investment decisions.

2. “Rich Dad Poor Dad” by Robert Kiyosaki — This book challenges traditional beliefs about money and provides practical advice on how to build wealth through investing in assets that generate passive income.

3. “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko — This book presents a study of millionaires in the US and identifies common traits and behaviors that contribute to their success.

4. “The Simple Path to Wealth” by JL Collins — This book explains the basics of investing and personal finance in a simple and straightforward way, with an emphasis on low-cost index fund investing.

5. “The Bogleheads’ Guide to Investing” by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf — This book outlines the investment philosophy of Jack Bogle, founder of Vanguard, and provides practical advice for individual investors.

6. “The Richest Man in Babylon” by George S. Clason — This book uses parables set in ancient Babylon to teach the principles of personal finance, such as living below your means, saving money, and investing wisely.

7. “Your Money or Your Life” by Vicki Robin and Joe Dominguez — This book offers a holistic approach to personal finance that encourages readers to examine their relationship with money and develop a plan for achieving financial independence.

8. “The Total Money Makeover” by Dave Ramsey — This book provides a step-by-step guide to getting out of debt, building an emergency fund, and investing for the future.

9. “The Psychology of Money” by Morgan Housel — This book explores the ways in which our attitudes and behaviors towards money can impact our financial outcomes, and offers insights for building a healthy relationship with money.

10. “The Four Pillars of Investing” by William Bernstein — This book covers the basics of investing, including asset allocation, diversification, and risk management, and provides a historical perspective on the evolution of the financial markets.

[torley]

Mr. Ravenna, the last profile, almost reads as a poster boy for a "bogleheads" approach to saving and investing toward retirement: Cool Creatives https://www.metafilter.com/activity/289714/comments/mefi/

[antonjesus]

More than 50 percent of mutual fund and ETF assets track passive indices, which makes index methodology important. Episode 68 is all about index history and evolution and how the usage of indexes as investment products changed the industry. 

 Rolf Agather has been in the indexing industry since the 1980s. He started Russell, moved around the industry a bit, then went back to Russell Investments and in 2002 became the Managing Director, Research and Innovation, Russell Indexes. He remained there after a merger with FTSE and became the FTSE Russell Managing Director, Research, North America. Rolf moved to Morningstar in 2020 as Morningstar’s Head of Research and Product, Indexes.

 The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki. 

 Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.  

 This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

[mccareer]

Finance Friday Articles

4 Lessons from the 2024 Bogleheads Conference Before You Quit Built for Success Don’t Invest in ‘Too Good to Be True’ — Lessons Learned from an Alleged Ponzi Scheme 2025 Federal Income Tax Brackets Reflect Lower Inflation Levels Four Easy Steps to Build a TIPS Ladder Should Medical Students Buy Disability Insurance? The global 60/40 portfolio: Steady as it goes TRICARE Dental Program…

[fictionyoubelieve]

it’s not the optimal choice for $10mm, but for the amount of money most people want to invest, just use a target retirement date fund! Basically any account on an investing site* will offer retirement date funds, which do all the work of automatically reinvesting and changing your risk exposure over time.

Just look for the option to “buy funds,” and search “target retirement” (or google the site name plus that phrase), and there should be multiple options with different years specified, usually in increments of five, like 2040, 2045, etc. Choose the one closest to when you think you’ll retire. Then (after setting aside whatever safety buffer you want in a regular savings account) put all the money you’re saving for retirement into that fund. Keep adding to it as you can afford.

And that’s it! That’s all you have to do! Doesn’t matter if it’s a 401k, IRA, or personal investment account—you can put the money in any of those into a target retirement date fund.

*I like Vanguard because they cater to normal people saving for retirement, so their UI is not too overwhelming. But other sites like Fidelity, Morgan Stanley, or anywhere you already have a retirement account should work fine.

If you want a tiny bit more control over the distribution of investments, look up “3 fund portfolio” and click any bogleheads link to learn more. (Bogleheads generally has good advice in both their guides and forums.) But it will require you to use a spreadsheet or calculator to rebalance every time you put money in, and most people will end up not doing that.

i would not trust myself to invest that money wisely. i didn't even have a savings account until i was like 26 or something

[desertrosew]

The Bogleheads' Guide to Investing

[tedpigottart]

John Clifton "Jack" Bogle (May 8, 1929–January 16, 2019). /// Thank you. ///// #bogle #bogleheads #vanguard #investing #investment #indexfunds #portrait #wallstreetjournal #watercolor (at Valparaiso, Indiana) https://www.instagram.com/p/Bs16Kcqh834/?utm_source=ig_tumblr_share&igshid=vagmmi9ovzkn

[valuentumbrian]

Jack Bogle’s Work Is Not Done

Image shown: Page 167 of Jack Bogle’s text Character Counts. Background: The cover of Value Trap. 

Brian Nelson, CFA

By now, I’m sure you’ve heard the news.

Vanguard’s founder John C. Bogle passed away. I never met Jack. Many others that knew him personally can describe him much better than me. There are probably dozens of books written about him, too. I’ve watched a few of his speeches through my computer screen, and while I’ve certainly read a lot of his work and a lot about him, Jack wrote a book that inspired me greatly.

If you’ve read my text Value Trap, you know the book wasn’t Common Sense on Mutual Funds. I think some of the concepts in Common Sense are somewhat misleading to investors, from how total return is derived from Bogle’s syllogism, but that’s not important right now. The book that I am talking about is Character Counts, the Creation and Building of The Vanguard Group.  

While many may have been strangely inspired to get into this business by Oliver Stone’s movie Wall Street in 1987 or the Wolf of Wall Street in 2013, it was Jack Bogle’s book Character Counts that inspired me. After reading that book, I even drew up a business plan for my own asset management firm. Someday, I, too, may manage money, and I believe the time is getting closer and closer to do so.

There is one small subchapter in Character Counts, two paragraphs in all, called “The Value of Candor,” and I’d like to reproduce some of it here. On page 167, Jack wrote: “One of our most important values is candor--tell the whole truth and nothing but the truth, with no strings attached, and let the chips fall where they may.” If there has been one line that has defined every step of the way at Valuentum, it has been this one. Our firm lives by candor, for better or worse.

Jack was philanthropic. He often donated part of his salary to charities while working at Vanguard, but Jack made his money in this business, too. His net worth has been estimated at $80 million, a stash of wealth very few in the world will ever grow to accumulate. Vanguard’s business model was saving people from fees. Such a business model didn’t lend itself to collecting a lot of them, so there may not have been an avenue to attain billions in net worth, in any case. It may have been the way Jack wanted it--to make tens of millions and leave his mark on the industry. He was wildly successful in this respect.

Jack Bogle has made the jobs of financial advisors across the country easier and more profitable. By investing in index funds and not spending as much time with stock selection or selecting managers, advisors can spend more time accumulating assets and serving more clients. Jack saved tons and tons of investors billions of dollars in fees, but in many cases, those savings may not have always made it to the end client. Some advisors still may charge 1%-2% on assets under management just to hold those index funds that Jack created.

Bogle believed “advisors are destined to charge hourly or retainer fees, like lawyers and accountants.” There are tons of advisors that are adding tons of value (e.g. building customized solutions, pursuing and studying stock selection to explain value principles to clients, striving to generate excess returns while taking on less risk), but there are others that hold index funds and reap the spread in doing so. Bogle’s work in the financial industry remains unfinished, and it is the responsibility of the next generation to carry the torch. Let us all rise.

History, not our contemporaries, will judge Jack Bogle. Today, the stock market may be better off because of the index fund, but even Jack speaks of how indexing has become “bastardized.” There are an estimated 70 times more stock indexes out there than stocks, themselves, and the number of ETFs continues to grow, estimated at more than 5,000 today. These are not better investment options for retirees. These are just more options, and many of them aren’t backed by much more than a backtest and fuzzy logic. Wall Street has always been good at creating products.

When asked if indexing has gotten out of hand, Bogle has stated “unequivocally yes…it’s a little bit of Dr. Frankenstein…some kind of monster was built out of what I created.” In many respects, indexing may be responsible for permanently changing the definition of investing into the concept of speculation, as many today may not even care to know the difference. Buying ETFs that are based on certain themes isn’t investing, per se. It’s speculating on the future price performance of a basket of stocks, and most of the time, it is done so without any consideration of price and estimated fair value. This might be better described as gambling.

Jack Bogle’s ideals transcend beyond mutual funds. Investors deserve to get more of their savings. He has often said that “you get what you don’t pay for.” Today, there are advisors that index and charge exorbitant fees for the advice. The industry is better than this, and I don’t think the DOL Fiduciary Rule or the SEC’s Best Interest Rule comes close to addressing the real issue that investors are facing today: “roughly 90% of wealth management clients are not fully aware of what they pay.” The industry needs more fee transparency. I’ve written to the SEC on this topic. My open letter can be downloaded here.  

I never met Jack, and I wish I could have. Though we have different beliefs, I feel like we are similar in so many ways. The grit he showed in building an index fund could only be viewed as inspiration behind our grit in standing up for investors when we made our call in MLPs some years ago. The word “candor” is something that governs everything we do at Valuentum, and everything I do in my life. At Valuentum, we’re going to tell you how things are exactly how we see them and let the chips fall where they may. It’s not easy to do this as a publisher, when many just want to hear what they want to hear.

As my book Value Trap reiterates, indexing and theme-based ETF proliferation have gotten out of control. Jack has stated that a world in which everyone indexes would become “chaos” and “catastrophe,” and while it’s a given not everyone will index, what are the chances of price-agnostic trading (quant and indexing) completely overrunning value-conscious trading, causing levels of market volatility not ever witnessed before. I believe this is a non-zero probability that can impact each and every one of our lives. The good thing, however, is that the future is what we make it. The debate today is not about active or passive or keeping costs on mutual funds low, but how we can ensure a healthy market structure for posterity and how investors can continue to get more of what is theirs, after advisor fees. There is still work to be done. 

Thank you Jack for taking us this far. You will never be forgotten. God bless.

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Valuentum members have access to our 16-page stock reports, Valuentum Buying Index ratings, Dividend Cushion ratios, fair value estimates and ranges, dividend reports and more. Not a member? Subscribe today. The first 14 days are free.

Brian Nelson does not own shares in any of the securities mentioned above. Some of the companies written about in this article may be included in Valuentum's simulated newsletter portfolios. Contact Valuentum for more information about its editorial policies.