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OK I don't know shit about investing/financing and would like to change that. Where do I start? I read the article and nod my head and go, "OK ETFs!" But then I
by swang 11y ago
OK I don't know shit about investing/financing and would like to change that. Where do I start? I read the article and nod my head and go, "OK ETFs!" But then I go and there are tons of them. Is the one he suggested the one I'm suppose to go with regardless?
- kozhevnikov 11y agoA common advice that I'm yet to follow myself is to start by reading sidebars on /r/investing and /r/personalfinance specifically their wiki and FAQ. [1] https://www.reddit.com/r/investing/wiki/faq https://www.reddit.com/r/investing/wiki/faq [2] https://www.reddit.com/r/personalfinance/wiki/index https://www.reddit.com/r/personalfinance/wiki/index
- j_lev 11y agoIn typical chicken-egg fashion there is no better teacher than having skin in the game, but just make sure you know what you're doing before you jump in. Personally I tend to encourage people to read Bogleheads' Guide to Investing first. That should equip you with everything you need in order to get your feet wet. Then, while you're checking your investments every day (exactly the way the book tells you not to do), start to read as much as you can about Permanent Portfolio. The reason I recommend this is because it allows you to learn the theory of (and indeed watch, if you decide to build your own Permanent Portfolio) different asset classes, and how they move depending on various macroeconomic factors. Finally, if you want to start stock picking I'd recommend getting started with Peter Lynch's books.
- mokn 11y agoRead "A Random Walk Down Wall Street". Gives a great intro to the history and theory behind investing for those wanting to learn.
- j_lev 11y agoGood one. Forgot about this one. Intelligent Investor is good too as per other commenter but I find that it's quite hard reading for a beginner.
- puranjay 11y agoRead "The Intelligent Investor" Calm, mature advice for investing that has stayed true for over 50 years.
- blufox 11y agoAnd if you don't have the time to read, listen to the audiobook online https://www.youtube.com/watch?v=UoCow6DsDaA https://www.youtube.com/watch?v=UoCow6DsDaA.
- matwood 11y agoGreat site: http://www.bogleheads.org/wiki/Lazy_Portfolios http://www.bogleheads.org/wiki/Lazy_Portfolios
- rjst 11y agoSome good books to get you started: * the smartest investment book you'll ever read * the four pillars of investing * The Millionaire Next Door * If You Can
- spacecowboy_lon 11y agoGo and read the intelligent investor by Graham (who taught Warren Buffet) http://www.amazon.co.uk/dp/0060555661 http://www.amazon.co.uk/dp/0060555661
- refurb 11y agoI found William Bernstein's books to be a great intro to index investing. "The four pillars of investing" "The intelligent asset allocator" - more technical The Boglehead wiki is also fantastic.
- otterley 11y agoMy favorite is _A Random Walk Down Wall Street_ by Burton G. Malkiel, the cofounder of Vanguard. Dispels a tremendous number of myths; at the end of the day you'll learn to KISS. http://amzn.com/0393340740 http://amzn.com/0393340740
- AreaGuy 11y agoIncidentally, Malkiel is currently the Chief Investment Officer of Wealthfront.
- iaw 11y agoSo, others have said it, but to reiterate: The reddit personal finance sub forum, read the sidebar Boglheads.org A random walk down wall street by Malkiel Those three resources will be sufficient to put you ahead for retirement investing without being ripped off.