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Started By
Message
Millennials Guide to Investing and Retirement
Posted on 5/5/14 at 3:29 pm
Posted on 5/5/14 at 3:29 pm
Hey MT, I scanned through the first page of threads and didn't see this posted. I hope it's not Germans, I couldn't stand the internet ridicule.
Bill Bernstein wrote a phamplet on investing for young professionals that gives a no-nonsense guide to investing for retirement. It takes about an hour to read through and is well worth the time.
For many MT posters this will be just a pleasant reinforcement to what they already know but there might be a few lurkers that could benefit from reading it.
It's typically for sale on Amazon for $0.99 but its free today.
If You Can: How Millennials Get Rich Slowly
Bill Bernstein wrote a phamplet on investing for young professionals that gives a no-nonsense guide to investing for retirement. It takes about an hour to read through and is well worth the time.
For many MT posters this will be just a pleasant reinforcement to what they already know but there might be a few lurkers that could benefit from reading it.
It's typically for sale on Amazon for $0.99 but its free today.
If You Can: How Millennials Get Rich Slowly
Posted on 5/5/14 at 3:39 pm to Swifty
Edit to avoid hijack:
Could you give some high level views of the book?
Could you give some high level views of the book?
This post was edited on 5/5/14 at 3:41 pm
Posted on 5/5/14 at 3:50 pm to Swifty
nm
my bad, im an idiot
my bad, im an idiot
This post was edited on 5/5/14 at 3:52 pm
Posted on 5/5/14 at 4:05 pm to Swifty
Thanks, I've been wanting something like this
Posted on 5/5/14 at 4:54 pm to TheHiddenFlask
quote:
Edit to avoid hijack: Could you give some high level views of the book?
1) You should be saving 15% of your income after you are debt free (401k match excluded).
2) The financial services industry is to be avoided at all costs.
3) You should be investing with Vanguard.
4) Bonds are safe and stocks are risky, so their expected returns reflect that.
5) Your investment account should consist of 33% Total US stock fund, 33% Total international stock fund, and 33% Bond fund (preferably gov't). You should rebalance yearly, which should take 15 min.
6) You should expect the long term real return of the above portfolio to be 3%.
7) Vanguard is the best place to do 5) because of low fees.
8) Everyone should read The Millionaire Next Door (and several other books as well).
Posted on 5/5/14 at 5:05 pm to Sigma
Was this written by a boglehead?
Posted on 5/5/14 at 5:23 pm to Sigma
Why on earth would a millennial invest a third in bonds?
Posted on 5/5/14 at 6:24 pm to Joshjrn
quote:Apparently he's serious about the "slowly" part.
Why on earth would a millennial invest a third in bonds?
Posted on 5/5/14 at 6:33 pm to Joshjrn
I know that there is no way in hell I'm throwing 33% into bonds at 25
Posted on 5/5/14 at 6:44 pm to TigerTatorTots
I consider myself to be conservative at 27 with 10% in bonds. 1/3 is insane
Posted on 5/5/14 at 7:20 pm to jimbeam
Just finished reading. He redeems himself by saying that the distribution isn't set in stone, and that this was just a way to do some safe market "timing" via reallocation. The rest was worth reading. Mostly things I already knew, but still worth reading. Ill be sure to pass it along to any investing neophytes I run across.
Posted on 5/5/14 at 7:49 pm to Joshjrn
I just finished the booklet as well. I look forward to reading his book recommendations.
Posted on 5/5/14 at 7:54 pm to Swifty
Any idea why it is free today?
Posted on 5/5/14 at 8:20 pm to jimbeam
quote:
Was this written by a boglehead?
Yep. He actually put it on the site for free a couple of weeks back for free.
Posted on 5/5/14 at 8:32 pm to Venelar
Excuse my ignorance but what's a boglehead?
Posted on 5/5/14 at 8:49 pm to oR33Do
Bogleheads.org
It's a group of people that believe in investing a certain way. The bogle part is in refence to J. Bogle (creator of Vanguard and the first index fund).
The bogleheads.org forum and wiki have a TON of information. Also on the forum there are a lot of people that help you with questions about your investments.
It's a group of people that believe in investing a certain way. The bogle part is in refence to J. Bogle (creator of Vanguard and the first index fund).
The bogleheads.org forum and wiki have a TON of information. Also on the forum there are a lot of people that help you with questions about your investments.
Posted on 5/5/14 at 8:54 pm to Venelar
The forum is awesome. Tons of info.
Posted on 5/6/14 at 12:12 am to jimbeam
I'm way older than a Gen Y and no way I'm putting 1/3 in bonds to watch them lose money for a 2nd consecutive year.
Posted on 5/6/14 at 12:15 am to TigerTatorTots
quote:
I know that there is no way in hell I'm throwing 33% into bonds at 25
No....shite.
I am at 7
I can't see a strong argument for someone that young being higher than 10.
Its especially ironic because they say to use Vanguard....and Vanguard has a fund that has a similar approach to investing: with very different percentages.
This post was edited on 5/6/14 at 12:17 am
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