173
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 15 Jan 2024
173 points (96.3% liked)
Asklemmy
43895 readers
972 users here now
A loosely moderated place to ask open-ended questions
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
Are there any resources you'd like to recommend?
Bogleheads Guide to Investing - First Edition PDF
Book Summary on Bogleheads Wiki
Bogleheads Wiki
This is somewhat of a speed run of the book.
The Bogleheads philosophy is basically to buy everything with a 2 or 3 fund portfolio.
The linked documents will explain those in more detail, but the concept is to buy everything so you always have bought the biggest winners, not to bet on a handful that will all lose or win, but at bigger expense to you.
They'll tell you how much to buy of each and what type of account to keep it in to max tax effectiveness.
It's not complicated once you read the source, and anyone should be able to understand it, it's not written to be cryptic or to sell you something. You can put your money anywhere you choose and it works the same.
I've followed it for about 15 years or so and have been very happy. There's no checking on stock news or any of that BS, you just develop a plan you're comfortable with, and then stick to it. The more hands off you are, the better honestly.
Wow, thank you!
Of course! The hardest part is usually just getting started, so there's no need to overcomplicate.
For those also saying "well look at this rich person with money to invest over here," you can also read this stuff and be a step or two ahead when you do get to invest, because one of the first things it explains is prioritizing where to put money. Fill up one level before moving on to the next, but by reading ahead, you know what to do when you get there so you are prepared.
Money for us non-uber rich folk works best with time, so the sooner you get in the game, the more success you should have overall. They call this "getting rich slowly" which doesn't sound exciting, but that's the point. Most people don't want to be on an emotional roller coaster with their money, they'd rather be on a lazy river ride that gets then where they want to be.
Bogleheads is great. There's also a book called "common sense on mutual funds"
Thanks
The nice thing is that, physically it’s the easiest thing in the world. The only complicated part is not trying to game it or convince yourself that you need more than the 2 or 3 fund portfolio.
Just buy a Total market index fund, some sort of bond fund and maybe some total market international stock fund
This is primarily a sailing channel but Clark has a series of finance videos that are excellent.
https://www.youtube.com/watch?v=9XK5ocXPhTg
Thank you
Here is an alternative Piped link(s):
https://www.piped.video/watch?v=9XK5ocXPhTg
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.