Reddit Reddit reviews The Bogleheads' Guide to Retirement Planning

We found 6 Reddit comments about The Bogleheads' Guide to Retirement Planning. Here are the top ones, ranked by their Reddit score.

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Retirement Planning
The Bogleheads' Guide to Retirement Planning
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6 Reddit comments about The Bogleheads' Guide to Retirement Planning:

u/mwerd · 7 pointsr/washingtondc

They're all a ripoff and the industry is filled with ignorant conmen. Most "financial planners" are quite literally just salesmen. They're selling you peace of mind at a high cost. They're trained and strongly encouraged to push products with high commission for them that make little economic sense for you.

Have you read the wiki over on /r/personalfinance? https://www.reddit.com/r/personalfinance/wiki/commontopics

Between that and something like a bogleheads book (https://www.amazon.com/gp/product/0470455578 for example) you should be able to get the information you need.

If you're sure you want to work with a financial planner you might look into fee-based financial advisers, you can search for those here:
http://www.napfa.org/

A cursory search on the fee-based adviser website linked above didn't turn up any CFP (certified financial planner) who was also CPA (certified public accountant) in the DC limits.

Good luck

u/SteelSharpensSteel · 4 pointsr/marriedredpill

On What to Read


Here are some suggestions on books and websites:


The Millionaire Next Door by Stanley and Danko - https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474


If You Can by William Bernstein - http://efficientfrontier.com/ef/0adhoc/2books.htm


Free version is here - https://www.dropbox.com/s/5tj8480ji58j00f/If%20You%20Can.pdf?dl=0


The Investor's Manifesto. Preparing for Prosperity, Armageddon, and Everything in Between by William Bernstein - https://www.amazon.com/Investors-Manifesto-Prosperity-Armageddon-Everything/dp/1118073762


The Bogleheads Guide to Investing - https://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/1118921283


The Coffeehouse Investor - https://www.amazon.com/Coffeehouse-Investor-Wealth-Ignore-Street/dp/0976585707


The Bogleheads' Guide to Retirement Planning - https://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470455578


The Four Pillars of Investing: Lessons for Building a Winning Portfolio by William Bernstein - https://www.amazon.com/Four-Pillars-Investing-Building-Portfolio/dp/0071747052/


Total Money Makeover by Dave Ramsey - https://www.amazon.com/Total-Money-Makeover-Classic-Financial/dp/1595555277


Personal Finance for Dummies by Eric Tyson - https://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/1118117859


Investing for Dummies by Eric Tyson - https://www.amazon.com/Investing-Dummies-Eric-Tyson/dp/1119320690/


The Millionaire Real Estate Investor per red-sfplus’s post (can confirm this is excellent) - https://www.amazon.com/Millionaire-Real-Estate-Investor/dp/0071446370/


For all the M.Ds on here and HNW individuals, you might want to check out https://www.whitecoatinvestor.com/ and his blog – found it to be very useful.


https://www.irs.gov/ or your government’s tax page. If you’ve been reading, you know that millionaires know more than your average bear about the tax code.


https://www.reddit.com/r/TheRedPill/comments/7vohb3/money/


https://www.reddit.com/r/TheRedPill/comments/3hzcvn/financial_advice_from_a_financier/


https://www.artofmanliness.com/2017/09/22/4-money-tips-4-personal-finance-legends/


Personal Finance Flowchart from their wiki - https://i.imgur.com/lSoUQr2.png


Additional Lists of Books:


https://www.bogleheads.org/wiki/Books:_recommendations_and_reviews


https://www.whitecoatinvestor.com/books-4/


Subreddits


https://www.reddit.com/r/investing/


https://www.reddit.com/r/personalfinance/ - I would highly encourage you to spend a half hour browsing their wiki - https://www.reddit.com/r/personalfinance/wiki/index and investing advice - https://www.reddit.com/r/personalfinance/wiki/investing


https://www.reddit.com/r/financialindependence/


https://www.reddit.com/r/SecurityAnalysis/


https://www.reddit.com/r/finance/


https://www.reddit.com/r/portfolios/


https://www.reddit.com/r/Bogleheads/


MRP References


https://www.reddit.com/r/marriedredpill/comments/40whjy/finally_talked_to_my_wife_about_our_finances_it/


https://www.reddit.com/r/marriedredpill/comments/67nxdu/finances_with_a_sahm/


https://www.reddit.com/r/marriedredpill/comments/488pa0/60_dod_week_6_finances/ (original)


https://www.reddit.com/r/marriedredpill/comments/6a6712/60_dod_week_6_finances/ (year 2)


https://www.reddit.com/r/marriedredpill/comments/3xw015/how_to_prepare_for_a_talk_about_finances/


https://www.reddit.com/r/marriedredpill/comments/30z704/taking_back_the_finances/


https://www.reddit.com/r/marriedredpill/comments/2uzukg/married_redpill_finances_and_money/


https://www.reddit.com/r/marriedredpill/comments/3637q5/some_thoughts_on_mrp_and_finances/


https://www.reddit.com/r/askMRP/comments/8dwaqt/best_practices_for_finances_within_marriage/


https://www.reddit.com/r/marriedredpill/comments/588e5o/gain_control_of_the_treasury/


Final Thoughts


There are already a lot of high net worth individuals on these subs (if you don’t believe me, look at the OYS for the past few months). This should be a review for most folks. The key points stay the same – have a plan, get out of the hole you are in, have a budget, do the right moves for wealth accumulation. Lead your family in your finances. Own it.


What are YOU doing to own your finances? Give some examples below.


u/prozaconstilts · 2 pointsr/AskReddit
  1. Pay off any high interest debt (>5%)
  2. Save enough to cover 6 months loss of income (for you, that probably means not too much now, but it will mean much more the second you finish college and move out), and put it in a savings account that provides you immediate access.
  3. Get a single credit card, and pay for your everyday things with it. Then pay off the entire balance of the card every month. The point is to accrue a history of good payments, but not interest
  4. Invest your extra money first into a tax deferred retirement fund (Roth-like IRAs), and after maxing that out (there are yearly limits to what can go in), invest in low cost taxable equity and mutual finds.

    Read the following two books to get started with investing and retirement:

    The Boglehead's Guide to Investing: http://www.amazon.com/gp/product/0470067365?ie=UTF8&tag=diehardsorg-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0470067365

    The Boglehead's Guide to Retirement Planning: http://www.amazon.com/gp/product/0470455578?ie=UTF8&tag=bogleheads.org-20&linkCode=as2&camp=1789&creative=390957&creativeASIN=0470455578

    If you start now, and keep at it as hard as you can, you'll retire, completely financially independent, at 50. That's 15 years earlier than the American government says their citizens should retire, and even earlier than most people actually manage to retire.

    And finally, live below your means. You can't save money if you financially strap yourself.
u/[deleted] · 2 pointsr/AskReddit

The ELI5 version is Mike Piper's "Can I Retire?": http://www.amazon.com/Can-Retire-Retirement-Savings-Explained/dp/0981454259/ref=sr_1_1?s=books&ie=UTF8&qid=1333578527&sr=1-1

The ELI.. high school student is the Boglehead's guide to retirement planning: http://www.amazon.com/The-Bogleheads-Guide-Retirement-Planning/dp/0470455578

The boglehead's wiki is also a great resource. Here's the entry on 401(k)'s: http://www.bogleheads.org/wiki/401%28k%29

As for investment advice, what you'll learn from those resources is simple: Invest passively, and minimize fees (in that order of importance, although one comes with the other). If you like, start a thread in /r/personalfinance showing what options are in your fund, message a link to me, and we can go through it and figure out what options you have. Unfortunately, many work 401(k)'s aren't that great, investment option wise. But they're still worth contributing to, because you can roll the money over into a real IRA and choose something better when you change jobs.

u/xeriscaped · 1 pointr/AskReddit

Good question. The post important thing is starting early- due to the much discussed benefit of compound interest.

http://www.getrichslowly.org/blog/2006/05/23/how-compound-interest-favors-the-young/

Many people suggest saving 10-20% of gross income for retirement. It is important to contribute the maximum amount when someone else contributes/matches what you invest.

Three general rules of investing.

  1. Invest regularly
  2. Go for investments with low fees
  3. Diversify

    My favorite beginners book for investing is-

    http://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470455578
u/iluv2sled · 1 pointr/personalfinance

Instead of hiring an adviser, why not learn what you need to know and do it yourself. I personally liked this approach:
http://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470455578