Best investing books according to redditors

We found 3,128 Reddit comments discussing the best investing books. We ranked the 612 resulting products by number of redditors who mentioned them. Here are the top 20.

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Real estate investments books
Bonds investing books
Commodities trading books
Futures trading books
Introduction in investing books
Mutual funds investing books
Options trading books
Stock market investing books
Online trading e-commmerce books
Investment analysis & strategy books
Deviratives investments books
Investment portfolio management books

Top Reddit comments about Investing:

u/lobster_johnson · 1391 pointsr/personalfinance

The Bogleheads' Guide to Investing by Taylor Larimore is a great introduction to investing. It might look silly, but it's not a silly book.

It's intended for "normal people" with no background in economics. It explains the basics of the stock market, funds, ETFs, bonds, etc., as well as the basics of investment — risk management, compound returns, value investing/fundamental analysis, etc. — in simple, understandable terms.

"Boglehead" is a humorous term for people who espouse the investing philosophy of John C. Bogle, founder of Vanguard — the largest and most consumer-friendly provider of mutual funds in the U.S. — and creator of the first commercially available index fund. Bogleheads usually recommend a simple "three-fund portfolio" as a diversification strategy, based on the idea that index funds by design will, over time, give non-professionals the best returns, as opposed to individual stock picking.

Bogle himself wrote a bunch of books. The Little Book of Common Sense Investing is supposed to be great.

u/technofox01 · 533 pointsr/personalfinance

I used to sell annuities as a broker, yes this is the main reason. You are better off investing in a Roth IRA or some other retirement account first, then - if possible when you retire - obtain a variable annuity with a principle/income protection (just in case the market crashes, but you get more dough when it goes up, than fixed).

Long story short, read Bogleheads Guide to Investing or Bogleheads Guide to Retirement; sources:

The Bogleheads' Guide to Investing

The Bogleheads' Guide to Retirement Planning

These two books are more than enough to give anyone the knowledge in terms of investing and retirement planning. Or just hit me up with questions, please note that I haven’t been licensed in almost a decade, because I had chosen not to renew my series 6 and 63. Anyway, I hope my post helps.

Edit: damn autocorrect.

u/OhBeSea · 195 pointsr/worldnews

Jacob Rees Mogg (one of the most vocal/prominent Brexiteers)'s father literally wrote a book on how to profit from economic crisis.

Blood in the Streets: Investment Profits in a World Gone Mad

u/BigBucksGentleman · 187 pointsr/wallstreetbets

Look to sell options only in premium rich underlyings (IV rank > 50). Sell around 45 days until expiration. Close between 25% to 50% of max profit. Make sure to roll to defend positions (look to roll around 20 DTE). Sell the 30 delta options, and look to collect 1/3 the width of a spread. If you really want to be a big dick player, beta weight your portfolio to SPY, and keep it delta neutral.

Edit: I got a lot of PMs concerning more information to this approach. Both TastyTrade and OptionAlpha are great resources to learn, and spell out this approach further. Other, more in depth, sources to consider are Option Volatility and Pricing and Options, Futures, and Other Derivatives.

u/davidmhorton · 84 pointsr/IWantToLearn

Buy and read these books (first):

Bogle on Mutual Funds

Bogleheads Guide to Investing

The Four Pillars of Investing

After reading those, download Robinhood and put $100 in (no more) and play around for like 6 months before even thinking about trying to play with larger amounts.

-- OR - skip Robinhood and download "Betterment" and just slowly put money in there and build some wealth.

Happy Learning.

u/pseudonym1066 · 77 pointsr/unitedkingdom

Jacob Rees Mogg is not an honest actor in this debate. He presents himself as someone honestly wanting the vote respected.


But he hides his clear financial motivations.:


- His father wrote a book called "Blood in the Streets: Investment Profits in a World Gone Mad", source about how the rich can profit from a country going to the dogs.

- He is estimated to have made £7 million from the damage to the country due to Brexit source.

- He refuses to answer questions about the money he will make due to the damage to British economy due to Brexit. source

He seeks to profit financially from the damage to the UK economy due to Brexit.

Britain's loss is his financial gain, and he does not have the interest of the country at heart.

u/NicolasDegreas · 62 pointsr/wallstreetbets

So basically... You had no experience whatsoever with the stock market, during a bull market you were able to outperform the S&P by 12% or so (Accounting for leverage) and now you think you're going to do well with options?

Let me tell you a story, in Business class in High School, we had this small stock market challenge, one group in particular, from my school, with no knowledge of finance whatsoever, reached 90% gains in just a month, they followed by dropping to -10% overall. Imagine if that was a 'real' account and they had reached 90% just to start fucking with options then tank to -200% and be indebted at 15 years old, well, that's what you're doing.

Anyway, I wish you the best of luck, at least read a book about options, VERY different from stocks, here's my recommendation "Options, Futures, and Other Derivatives" by John Hull

PS: That group was my group, I did all of the trades, which were ALL on 3x leveraged ETFs, pretty wild rollercoaster of emotions when I sank from +90% to -10%, from #1 to #36,205. The reward was minimal, but my dopamine receptors were already counting the win. The people who beat us, though, were +130%, if we'd gotten our last move right (It was about the elections), we would've gone to +300%.

u/RishFush · 61 pointsr/IWantToLearn

Rich Dad Poor Dad catches a lot of flak, but it's actually really good at teaching the absolute basics in an easy-to-follow manner. Like, learn what a Cash Flow Statement is, increase your asset column, learn basic accounting language, separate emotions and money, minimize taxes. Just glean the overall principles he's teaching and don't blindly follow his specific strategies.

The Richest Man in Babylon is another great, easy to read, investing 101 book.

And The Millionaire Next Door is a research-based book on Millionaires in America and what kind of habits and mindsets got them to their current wealth. It's a wonderfully refreshing read after being brainwashed by tv and movies saying that millionaires won it or stole it and live lavish lives. Most actual millionaires are pretty frugal and hard working with modest lives.

And here are some resources to help you learn all the new words and concepts:

u/mrzulu · 51 pointsr/personalfinance

First things first: ground yourself. You make great money, and, besides some irrational fears about things collapsing left and right, seem to have your shit together. Stop being afraid of what could happen with the economy or the stock market in the short term, and prepare your personal finances for the long haul. After all, that's your stated goal: "make sure my little one is reasonably comfortable when he turns 21 and my wife and I aren't too broke when we retire."

> investment related seem to be very different now in 2016

No, not really. The fundamentals of modern money management and investing are more or less the same today as they were in the 1930s -- spend less than you earn, save money for emergencies, and buy and hold investments for retirement. This is really, really easy to do. Buy a copy of The Boglehead's Guide to Investing. Read it cover to cover, take the best bits and leave the rest. It'll give you a solid rubric onto which you can act.

> at least 40% of my income is going to the various taxes in Japan without any apparent benefit to me or my family

"Apparent" here is the operative word. Emegency and public services are funded, the streets get cleaned, the roads get paved, the sidewalks are kept is usable shape, and a good chunk of your medical coverage is paid for by the taxes you pay in Japan. Without the civilization built around you you'd have a bigger problem than paying taxes. Taxes aren't always merely pissing away money with absolutely no return.

TLDR; stop being chicken little, read a book, educate yourself, and you'll sleep better with a fool-proof plan for your financial future.

u/drchekmate · 50 pointsr/personalfinance

As a fellow EM Doctor that had $300K+ in debt, you should find a higher paying job.

$230K/Yr is a pittance for what you do. I make (almost) twice that in a major metro area, had 8 interviews fresh out of residency that paid from $185-235/hr, from rural areas, to midsized town, to 1,000,000+ cities. You should be able to find a job at $200/hr easy. $200hr x 144hrs/mo x 12 months = $345K/yr. That's like $80K extra post tax per year that you can put towards loans / savings / vacations / whatever. Every 80K you miss our on early in your career stacks up over time, on missed savings, missed loan payments, etc.

You're getting screwed at $230K/yr. Get a higher paying job, and get an accountant that works with other doctors (will save you so much money!). Also read White Coat Investor.

Buy it and put it in the bathroom, and read it 5 minutes at a time until you're done.

u/DarthSaver · 42 pointsr/financialindependence
  1. Thank you for sharing your personal story.
  2. Never be ashamed of being ignorant. We are all ignorant about many things.
  3. Admitting ignorance is a power that many people lack. It is also the first big step towards learning. This is a super power that will propel you forward.
  4. The majority of normal, everyday people, do not know the first thing about investing. Not knowing anything about investing is average. You are now confronting this. That makes you above average.
  5. Start with these two books to learn about investing: The Simple Path to Wealth by JL Collins and The Little Book of Common Sense Investing by John Bogle.
  6. Not exactly investing related but just in case you don't already know about it, you should read this too.
  7. Congratulations on your daughter.
  8. Congratulations on living a full and dynamic life where you are able to confront your fears and admit mistakes, even when the extenuating circumstances around your mistakes aren't your fault. Congratulations on being able to learn change and fight for your family and a better life.
u/Cdn_Nick · 38 pointsr/IWantToLearn

A good introduction is this:

Lays it all out in basic understandable terms, and also provides brief summaries of the most significant people in investing: Buffett, Graham, etc

u/snadsnad · 37 pointsr/AskReddit

A lot of people downvoting renting and saying getting a mortgage is a sound personal finance decision need to wake up. Here is an amoritzation schedule on a 30 year $160,000 loan (loan amount after 20% down on a $200k house; a decent house in the midwest) with a 3.8% interest rate. You wind up paying $108k in interest. You do not make money on a property you are living in. You barely wind up paying more on the principal than you do in interest 12 years into the loan.

Golgatem has no fucking clue what they are talking about and apparently also does not have the faintest idea of the "true" costs of home ownership are. The reason so many people lost their homes in the real estate crash/recession was because they approached things the way Golgatem did. Get your heads out of your asses and stop thinking just because you were born in 'Murica you're entitled to a nice house with a picket fence. You should be aiming to have a positive net worth not renting a bunch of shit from the bank.

I would recommend you check out Get a Finance Life: Personal Finance in your 20s and 30.

u/vishnoo · 36 pointsr/unitedkingdom


Blood in the Streets: Investment Profits in a World Gone Mad Hardcover – Jun 1 1987

by James Dale Davidson (Author), William Rees-Mogg (Author)-------

that's Rees Mogg , the father of the current one. disaster capitalism.

u/anticausal · 36 pointsr/The_Donald

This phenomenon is called antifragility.

u/wkrick · 34 pointsr/financialindependence

You should read A Random Walk Down Wall Street.

The main takeaway is that nobody can consistently beat the market and you will likely come out behind if you try. Instead, you should invest in the entire market and go along for the ride. And diversification lowers risk.

VTSAX is an index fund for the entire US stock market so it's very diversified.

VTIAX is the complimentary fund for the rest of the world outside the US stock market.

Both are actually components of the Vanguard Target Retirement funds (along with their US and International Bond funds)

Rather than use a Target Retiement fund, I follow the "lazy portfolio" concept of self-managed investing for retirement...

Specifically, the three-fund lazy portfolio...
...which includes VTSAX, VTIAX, and VBTLX as the three funds.

Another reason people sometimes prefer VTSAX over Target Retirement funds is when the fund is held in a taxable brokerage account. Target Retirement funds include bonds and bonds aren't considered "tax-efficient" investments so it's not optimal to hold them in a taxable account. It's better to hold bonds in a traditional 401k or traditional IRA.

More info...

u/ScienceOnYourSide · 30 pointsr/medicine

It may be a bit much for 3rd years, but during 4th year I think everyone should read White Coat Investor, Medical Student Loans if they have student loans, and
The Millionaire Nextdoor. Those that have any interest in finances will take them seriously and continue to read beyond these. Those that don't really care will have at least been given a quick Finances 101 course for doctors and have somewhere to turn. I think a large problem is many medical students have no concept of what a dollar is even worth. Many grow up in upper-middle class America with parents supporting them through college if not further and then have essentially unlimited loans during medical school. We know nothing about finances in general and these give a good baseline for which older physicians can then build on. I would also recommend every 4th year start a budget, either on pencil/paper, Excel, Mint, YNAB, or something to at least track their expenses and have better money management skill in residency that lend themselves to later in life when they are making more money.

Careers in Medicine is also a decent resource all most medical students should have access too

u/patodruida · 28 pointsr/LeopardsAteMyFace

If you bet against the pound (like many top-tier brexiters did back in 2016) you can make massive gains. Also, if you have liquidity or access to backers with deep pockets, a country in crisis is nothing but a land of opportunity.

Check out this book written by the father of Jacob Rees-Mogg, one of the most recalcitrant leavers:

And (only tangentially related) what his sister has to say about profiting from the water crisis.

The 1% have been given plenty of time to hedge their bets. If they have to short the UK economy to make money, you can bet they will.

As for the leavers who will suffer for it but still defend the referendum to this day? Well, there is no shortage of Полезные идиоты.

u/Eniugnas · 28 pointsr/worldnews

Mogg's dad literally wrote a book on how to make money during recessions.

u/ASOT550 · 28 pointsr/investing
  1. The first half that you talk about is well known now, but that's because of Ben Graham. Don't forget, the original edition of the intelligent investor was published in 1949 nearly 70 years ago. Those ideas were revolutionary at the time. For someone who hasn't been reading about investing or done a lot of research those are also invaluable lessons to learn which is why the book is recommended so often.
  2. If you're looking for some more detailed security analysis I think Graham's other book security analysis will cover what you're looking for. I haven't read it personally so I don't know for sure, but from what I've heard secondhand I think it covers it.
  3. My own personal thought on the Intelligent Investor is that it's a good general book about the market and can teach you a lot. However, Graham is not the most engaging writer and reading through his book is a slog to say the least. I think there are other more recent books that teach the basics without being difficult to read. A Random Walk Down Wallstreet is one I've personally read that's good. I'm currently skimming through Heads I win, Tails I win and so far it covers the psychology of investing pretty well while also quoting from The Intelligent Investor directly. I've heard that The little book that (still) beats the markets is also good but I haven't read it personally.
  4. One final thought is that some of the ideas presented in the first half aren't necessarily so obvious to most people. If they were, you would never get valuations into the triple digit (or infinite!) P/E ratios like AMZN, NFLX, TSLA, etc.

    Edit corrected the years to nearly 70 from nearly 60. Did anyone else know it's 2016 and not 2006?
u/strolls · 28 pointsr/eupersonalfinance

> I saw few guides but i wanted to see opinion of more people on one place compared to sites that have 1-2 editors.

The evidence is that passive investing - buying index funds, and holding them for decades - is the best longterm investment for the majority of people.

The vast majority of actively managed funds do not outperform that strategy - they work 70-hour weeks at it, and have research resources you don't, so you should be really well informed and have a good reason if you think you can do better. [1, 2, 3]

That statement is not controversial, and the passive investing methodology is well documented. There are lots of sites and books about it - we usually recommend Tim Hale's Smarter Investing for UK-based investors, and the book recommendations page at the Bogleheads wiki is also very good; Bogle's Little Book of Common Sense Investing or The Bogleheads' Guide To Investing are amongst the most famous books on the subject.

I would honestly recommend reading one or two books, because books from publishers are copyedited and checked for errors, and because they can take you through the subject start-to-finish in a consistent manner and giving a clear explanation of the whole subject. IMO Smarter Investing does this very well, but it bows to Her Majesty's Revenue and Customs and not the Revenue Commissioners.

I don't know much about penny stocks, but they're a bit notorious for being driven by scammers. I don't know if that's true or not, but I suspect so. If you want to invest in individual stocks then you have the edge in small cap (companies the size of Halfords, Cineworld and Carphone Warehouse - not intending to fixate on retail, I just picked 3 companies with names that will be well known to consumers), which is much better documented and easier to research, so why would you bother with penny stocks, which are more prone to directors pocketing cash or engaging in other fraud?

I'm pretty sure you'll find the majority of day traders lose money - I've never before had the need to discuss that, so don't have a citation in my bookmarks. Look it up for yourself, but understand that if something offers returns that are too good to be true, or better than index investing, then it's because it's risky - returns are always related to risk; this is a rule of investing so fundamental that I have no doubt it applied to the operations of bronze age merchants as it does to us today.

u/AnonymousWritings · 26 pointsr/PersonalFinanceCanada

Your rent is really quite high, but it's Vancouver so I get it.

One thing that looks possibly missing is budgeting for longer term or infrequent regular expenses. This might be things like:

  1. Saving up to buy gifts for people at Christmas. Or just saving up because you know you will spend more at restaurants around the holidays.

  2. Saving up for yearly vacations.

  3. Any regular bills that are yearly rather than monthly. For me this is my rental insurance, but it sounds like you have this covered. A lot of people have yearly car registration fees as well, but I think you don't own a car? Either way, make sure you budget for any expenses like this so you aren't blindsided in January when you get a large bill that you didn't plan for.

  4. Clothing purchases? Maybe this is falling under "personal enjoyment" for you, but clothes wear out.. You're going to need to replace them.

  5. When you get a new cellphone every 4 years or whatever, do you buy a cheaper one on contract so there is no up front cost? Otherwise, you should budget monthly savings for this. And similar regular long-term purchases (Computer?).

    Perhaps not high on your list, but if it's your thing, setting some monthly budget for charitable donations is a good idea. Alternatively, just have a budgeted "flex" category that can include this, so that you aren't off-budget for random purchases ( within reason ).

    Move-out expenses: I've got about a $1000 bill for IKEA furniture in the 1 bedroom place I live in now. This did not include a bed ( additional ~$800). You can certainly do this cheaper (kijiji etc.), but budgeting $2000 or so would be a comfortable start. It sounds like you have the savings to do so. You'll want a good set of cookware, cutlery, plates, and kitchen knives as well, which could set you back a couple hundred, depending on quality and sales.

    Retirement savings: Typical suggestion is 10-20% of your pre-tax income. Since you have a defined benefit pension, you could aim for the low end, if you expect to stay in this position long enough to get full value out of the pension. $600 / month would not be a bad starting point. At 7% yearly growth, starting from zero, this would get you to savings of 1.5 million at age 65. 4% withdrawal rate gives a retirement income of $63,000 a year which inflation adjusts to about $30,000. Disregarding the DB pension, if you include CPP of ~$7000 / year, this would give you enough in retirement to more than cover your current expenses.

    For your current savings, you should keep an emergency fund of about 3 - 6 months income in a regular savings account that is easy to access. This is to cover you if something unexpected happens like you lose your job, or have to take extended time off to help a family member, or have some unexpected bills. As somebody who owns neither a car nor a house, your "unexpected bills" are likely to be less frequent and smaller, so you could aim for the lower range of this. I would keep at least $20,000 for an emergency fund though.

    For the rest of it, you need to decide what your long term goals are. If you intend to buy a car in near future (5 years), then you should keep an appropriate amount of money in a savings account, or other guaranteed instruments (such as GICs). GICs often (sometimes?) pay more interest than savings accounts, but have specific maturity dates. If you pull the money out before then, you forfeit all / some of the interest (depending on the terms of the particular GIC). If you think you will buy a car in 3 years, don't buy a GIC with a 5 year maturity date. If you intend to buy a house in the future, basically the same story. Keep the appropriate down-payment savings in a savings account or GIC so that there is no chance of losing it before you need it. Stock market investments are great in the long term, but for short term savings there is too much fluctuation, and you could be underwater when you need the money.

    If a car, house, or other large purchase (Planned big vacation, wedding, etc?) is not coming in the near future, then you should invest the rest for retirement. I recommend you pick up the book "A random walk down wall street" for more information about how you should be investing for retirement. The short version is to get a low-fee online brokerage account (I use TD direct investing), buy ETF index funds, and just hold them. No day-trading or "I think this will go down tomorrow, I'm going to sell and buy it back then!".

u/Original_Dankster · 26 pointsr/The_Donald

You sir, are 100% correct. Nassim Nicholas Taleb, one of the sharpest logical minds in the world, the same guy who developed the concept of antifragility (and thus was one of the few thinkers who predicted Trump's ability to withstand attacks) has recently written on how extreme minorities make decisions for the majority. It's about a 20 minute read.

u/jasonlitka · 24 pointsr/personalfinance

Ok, great, start educating yourself on financial management. Even if you hire someone to do it, don’t trust them blindly. Shady people love to take advantage of high-income doctors, because most doctors are incapable of managing their money responsibility.

Start reading some of the content over on White Coat Investor. It will change your life.

Also, the book:

u/myownman · 24 pointsr/ethtrader

To those of you who are trading ETH, but aren't as familiar with the underlying tech of Ethereum as you'd like...

Read this book.

I just finished it because I wanted to be sure my foundational knowledge of the tech and Solidity were up to snuff. It's a cross disciplinary explanation of the tech, economics, and use cases of Ethereum. It's not a dry tech-manual, and is a rather quick read.

Side note for the lulz:

If you come from bitcoin land, you'll recognize the author of this upcoming tome.

u/RemarkableTiro · 22 pointsr/UKPersonalFinance

Have you bought and read Tim Hale's Smarter Investing first? If not, go and buy it! It's only £20 but it'll net you thousands of pounds in the long run. It's targeted at UK readers and outlines the steps needed to start investing in index funds. More than anything, it will empower you to make your own financial decisions instead of letting other people guide you what to do with your money.

One key point that I'll outline now is that your desire to have your investments be relatively liquid is not really compatible with investing in stocks. The reason for that is stocks are volatile and it's possible you could lose half of your investment overnight in a market crash. The probability of that gets smaller as you leave your money invested for longer, which is why people usually recommend a minimum of 5 years to invest your money, although 10+ years is ideal. Anything less than 5 years and your best bet is keeping your money as cash and spreading it around high-interest accounts (see for the best accounts).

Once you've read Smarter Investing, you may be interested in investing in a global equity tracker. There are various effort-free options where you fund and forget, such as Vanguard's Lifestrategy series or the FTSE Global All Cap Index Fund.

Alternatively if you're feeling braver, you could check out my guide on constructing your own global equity tracker here.

But above all, read Smarter Investing!

u/Forlarren · 22 pointsr/worldnews

Cryptocurrencies are the only monetary technologies that eliminate or work around counter party risk, instead of costly and (necessarily) imperfect mitigation. While it might seem like a small thing, in computer science this is the equivalent of finding the philosophers stone. It will allow such sufficiently advanced technology to emerge it will be indistinguishable from magic to those that don't understand the inner workings.

It's hard to imagine why this is important now, because it's never existed before. Hell it's the biggest reason so many people keep getting their coins ripped off, old habits die hard (almost happened to me but I got luck when my wallet host actually managed to refund me).

You have to try to imagine a world without the need for trust.

How much more could people be capable of if they didn't have to worry about chargebacks, identity theft, (hyper) inflation, banking externalities (bank profits should count against GDP it's pure cost of doing business with no upside once you have cryptocurrencies), etc?

Imagine if banking "just worked", flawlessly all the time. That's possible (implementation is going to take time and a massive investment but that's happening faster than I have ever seen before, complainers need to watch this) with cryptocurrencies, and not possible otherwise due to aforementioned counter party risk (Murphy's Law).

Richard Brown, one of IBM's chief financial architects explains what's possible (if you only click one link click this one) due to the discovery of a solution to the Bysintine Generals Problem, better than I ever could.

Cryptocurrencies aren't just "not stupid" they are actually "smart", as in programmable. On the blockchain nobody knows you are a refrigerator. The blockchain doesn't sit around just waiting for a human to interact with it, it's a complex system with a life of it's own, makes decisions, and adapts based on fitness functions. Users are just nodes in the decisions making tree.

Add all that together and you have an antifragile system, with the potential to become a black swan as we witness the world's first digital hyper-monetization event.

So if you want to get in on this revolution, if you think living in a world that's provably fair is cool and good, if you want to take a chance and be rich, if you value security and freedom, cryptocurrencies like Bitocoin are the only game in town. The good news is due to the adoption cycle, it's still in the very early adopter phase. Freedom really can cost a buck-o-five, then just wait a few years.

Sure it might fail, but really for the cost of a soda you can not only help it succeed but potentially make a shit ton of money doing so, it's the greatest hedge opportunity the world has ever seen.

I hoped that helped. Good question by the way even though you got downvoted, I know what you meant, thank you for giving me the opportunity to share. =)

u/WiseStacks · 20 pointsr/PersonalFinanceCanada

Sorry for your loss..

Given your financial position (able to support yourself through school without borrowing) I would invest in ETFs, something like a Vanguard ETF with a minimal MER. I'd also transfer that mutual fund over to the same ETF as the management fees are typically too much, eating away at your returns. Even though the management fees may seem small, compounded over X years to retirement at age 21 is seriously significant..

If you invest this inheritance at your age and follow something like the 4% rule, you'll be retired before most people even start saving for retirement..

If you don't really follow what I'm saying, I highly suggest reading Millionaire Teacher.

u/Akachi_123 · 18 pointsr/europe

The book is called "Blood in the Streets". Mogg knows there will be strife, and as his father (well, the nanny who read his fathers book to him) taught him: strife means money for those who know how to earn it. And there are people who worship this guy sigh.

u/xjE4644Eyc · 17 pointsr/medicine

On that note read this book:

Small things that she will appreciate:

Black out curtains. Her hours are going to be irregular and after a night shift there is nothing better than coming home to completely dark room in the bright morning to sleep.

A nice pair of trauma shears like Leatherman Raptors.

u/hippotatobear · 16 pointsr/financialindependence

Hello! Also from Ontario Canada! The best advice I can give you is.... Spend less than you make (create a budget and stick to it), pay off all your credit cards in full every month, try to keep the life style creep to a minimum, and live in a low cost of living (LCOL) area (if you can).

In terms of buying vs renting there are calculators for that and it's personal choice, but try not to buy more house than you can handle (we live in the GTA so house prices are crazy right now...) If you can live with your parents for a while, you can save a lot of money that way too (just contribute to the household!! If not in cash, at least do the dishes and laundry or something...!).

If you want to buy and do nice things, budget and save for them! Striving towards FI doesn't mean you have to live like a pauper... But be reasonable and have your ultimate goal in mind.

Some nice books to read (that are Canadian!) Would be Millionaire Teacher by Andrew Hallam and The Wealthy Barber/The Wealthy Barber Returns by David Chilton (you can just borrow from the library as an e-book or actual book!).

Since you are unionized and have a pension, I would say max out your TFSA first (check out the index fund model portfolios from Canadian Couch Potato and then your RRSP (whatever room you have left after your pension adjustment) and once you still have money left over open a marginal account (if you you are married by then,max out both those accounts for your spouse before you open any marginal accounts).

Also, read the side bar and the stickied posts. Enjoy your journey to FI. It's important to plan for the future, but you shouldn't forget to enjoy the present as well!

u/Altoid_Addict · 15 pointsr/Foodforthought

That reminds me of something that Nassim Nicolas Taleb mentions in his book Antifragile. Apparently, quite a few scientific discoveries in the 19th century were made by English rectors with a nondemanding job and plenty of free time to devote to whatever they were interested in.

Of course, to participate in citizen science, you do need the drive to actually do something other than, for example, reading and commenting on Reddit, but I think enough people do have, or can find that drive.

u/snrubovic · 15 pointsr/fiaustralia

Firstly, have a read of the investment order for new investors.

Then, if you have an emergency fund and no debts (besides HECS/HELP), then

u/Bulletproof_Haas · 14 pointsr/wallstreetbets

Realize that you always need to be learning and taking in new information. You will never "master" the market, nobody else has mastered it either, so take others' opinions with a grain of salt.

As much as people joke around here it can be a good way to spur new thought. If someone says the market will crash in 3 days? Why? Do you agree? If so, why? What data can you come up with to support that? (Etc, etc). Your goal should be to become knowledgeable enough to look at the economic landscape and come up with a personal opinion about what will happen next.

Once you have an informed hypothesis on what will occur then you make investments based on those convictions.

u/andermic · 14 pointsr/options

This goes over all of the basic trades. How to enter and exit. And how to make adjustments. It’s a little long winded but very informative.

This is less wordy and covers the same topics. However it is less informative than the rookie book. Probably good to start here and then read the rookie book.

u/TWeaKoR · 14 pointsr/unitedkingdom

Why would they? They want Blood in the Streets.

u/scooterdog · 14 pointsr/financialindependence

Qualifications: grew up in a very modest (i.e. lower) part of town, parents worked in blue-collar professions, and started buying a rental property in the 1960's, then dad passed away (with four kids). Now definitely intergenerational wealth, all kids went to college in STEM, parents in their 90's (step-dad helped build up RE holdings to 36 units) with holdings in the 8-figures. No I haven't inherited any of it (yet) but well into middle age myself, make very good money (and will leave it at that), and have a few RE holdings.

> I'll have manager experience. I'm also reading a book called "real estate investing for dummies" and I just finished "rich Dad poor Dad"

Good for you, I didn't start reading books on anything finance related until well into my 20's, and then I read a lot of very good books. I don't think much of Kiyosaki, frankly, but as Brian Tracy said 'to earn more you must learn more'. So don't stop, keep on reading, and especially books over blog posts and short pieces. Why? Books will have more complex ideas and more research to back it up.

Regarding your game plan: you did not indicate what you are interested in doing, and what you do well, and what people will pay you to do, and what the world needs. Take a look at this ikigai graphic. Not sure if you know that welding or sales is this for you, and of course there are other things you may grow into. But hey if you have a good idea that this is the path you want to take, good for you!

I came here to say about sales, few salespeople are on Reddit, they are very busy making lots of money to talk about it. In my own (technical) sales field base runs from $65K up to $120K with another 40% commission, but you need to have the right background (STEM college degree, experience as a customer, and aptitude for outside sales) so barriers to entry are high. So yes, six figures in your late 20's is achievable, and it does take a lot of hard work, no doubt!

Of course owning your own business as a contractor, or becoming a top welder, or tons of other things you could do, I know of plenty of people who do very well.

Regarding the end goal, admirable, and I say your thinking is in the right place. The road to FI is varied - real estate is a very good method (the way my parents went, they bought low and held onto their properties in a HCOL area), investing into index funds another good method (again read books like Boglehead's Guide to Investing, or another favorite of mine on the sidebar called The Richest Man in Babylon) The amount these books can make you over five or ten years is a lot. Over 15 or 25 years is huge.

> Even if I don't get to enjoy it

I see many piling on here saying 'you should enjoy it' but I didn't interpret this comment in that way. You realize it's a road not many take (too many live way beyond their means, and don't have savings / passive income / true wealth to show for it). Yes there's sacrifice, and it takes a long time to build up $1,500 in monthly passive income much less $15,000, but people do this and often you cannot tell. (For example, look up the book The Millionaire Next Door.)

Are you on the right path? Definitely YES. The path to financial independence starts with a mindset, and the fact you are asking the question puts you out in front of all the peers of yours who are thinking about lots of other things, which you know all too well.

Will you make mistakes along the way? Of course, we are all human. The important thing is mindset, and the great thing of being younger is that you have time to make other choices, and learn along the way.

u/throwbubba1 · 14 pointsr/investing

Read. All the famous investors started reading at a young age and read ferociously (ok maybe not all but most).

Go to the library if you can, they generally will have all the quality investing tomes, without some of the "get rich quick manuals" which only benefit the authors.

Here is a few books to start with:

u/Th0mas8 · 12 pointsr/worldnews

Lets not forget about book that father of Jacob Rees Mogg (Wiliam Rees Mogg) wrote 30 years ago (1987) - its name ?

"Blood in the Streets: Investment Profits in a World Gone Mad"

*Jacob was always supporter of hard-Brexit - now you know why...

u/dak4f2 · 12 pointsr/personalfinance

I'm rereading the book Get a Financial Life which taught me about a lot of the things I never learned at school or from my parents. It's a good place to answer your questions about what to do with your money, and these are the basics you can teach your son over the years. It helped me out immensely ~10 years ago, would recommend. Maybe it's even at your library for free.

u/johncheswick · 12 pointsr/investing


Updated version for Kindle through Amazon

It's a solid starting point. At times it feels like a sales pitch for Vanguard, but it's still not bad advice. It does have good info on the basics though.

u/ZenNate · 12 pointsr/Bitcoin

> OP needs to seek out a trained financial adviser.

Don't. Financial advisers are mostly just salesmen, and most sell shitty products with high fees. It's impossible to navigate which ones are good and which ones aren't unless you know finance yourself, in which case, you will no longer need a financial adviser and can invest yourself for the lowest fees (use Vanguard for the lowest fees).

It's really not all that complicated to invest if you play the game of diversification and just try to get the average market return. Trying to beat the market is another game (a game which we who are interested in bitcoin are playing) and takes another level of sophistication.

Just read these two books and you'll know all you need to know to invest your own money well for the lowest fees. That is if you're playing the simple diversify-and-get-average-market-return game.

The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between

A Random Walk down Wall Street: The Time-tested Strategy for Successful Investing

u/grapeape25 · 11 pointsr/uwaterloo

If you're just looking to learn instead of fulfilling a degree requirement then it is a probably more useful to pickup a book and do it yourself.

Some useful subs:

u/pianojosh · 11 pointsr/financialindependence

"cannot tell the future or predict the market"

"when the price drops back down again"

Can't have both. You're trying to time the market if you do it and will lose in the long run even if you get lucky a few times. It's like playing Blackjack, the house has an edge (in this case, I guarantee you whoever is on the other side of the trade knows more than you do).

If you're saving for the future, you do not change your behavior with the movements of the market. Otherwise you're just another day trader.

I suggest you read A Random Walk Down Wall Street and try to perish these thoughts from your mind.

u/Holy_Shit_Stains · 11 pointsr/investing
u/discoganya · 11 pointsr/personalfinance

No kids, mortgage, etc? If so then in order or priority:

  • Contribute to the work-based plan (401(k), 403b,) enough to get the full employer match (the match is like free money, your best possible investment),
  • Pay off high interest debt (a guaranteed high return, the next best thing to free money),
  • Contribute to a Health Savings Account (HSA) if available (unlike many other tax deductions, there are no income restrictions to contribute to an HSA)
  • Contribute the maximum to an IRA, traditional or Roth, depending on income eligibility
  • Contribute the remainder of the maximum employee contribution to the work-based plan

    At this stage saving money (accumulation) is way more important than asset allocation (stocks, bonds, CDs, etc.)

    Buy this book and read it
u/JimJimster · 11 pointsr/personalfinance

Check out The Simple Path To Wealth. Can't recommend the book enough.

u/UserNotFoundError666 · 10 pointsr/stocks

If you want to know how Warren Buffett invests just read "The Intelligent Investor" by Benjamin Graham

After that read "Security Analysis" by Graham and Dodd. With these 2 books alone you will have a deep understanding of how to invest like Buffett.

TLDR: Benjamin Graham was Buffett's mentor, taught him how to invest, and wrote everything down in his books so that you can do the same. Also you could just buy BRK.B (or BRK.A if you've got the cash) shares and let Buffett do all the work for you.

Sub about Value Investing /r/SecurityAnalysis/

Some background info if you're interested... after Warren Buffett graduated from Penn he applied to Harvard for graduate school but was rejected and ended up at Columbia University instead. Ben Graham was one of his professors at Columbia. Graham was incredibly intelligent, he grew up poor in NYC and received a full scholarship to attend Columbia and by the time he graduated he was offered tenure as a professor in 3 separate departments (Mathematics, English, and Philosophy) but he declined those offers and went off to Wall Street instead where he was credited at the time for creating systems on how on invest based off of specific signals and criteria instead of blindly gambling in the market. Graham later returned to academia because he wanted to write a book on the investing techniques he created. This is when Buffett and Graham crossed paths at Columbia. Buffett studied Graham's investing style and it obviously worked out well for him, he credits Graham to this day as being his mentor and says he still reads The Intelligent Investor every so often.

u/Bizkitgto · 10 pointsr/investing

I'd read A Random Walk Down Wall Street first. Then Intelligent Investor before Security Analysis.

The first book I read when I was a n00b was The Neatest Little Guide to Stock Market Investing. It's pretty simple and basic and made for total beginner's.

Also, you may want to read Reminiscences of a Stock Operator at some point.

Also, check out Robert Shiller's Financial Markets course.

Stock Charts is a good online introduction to technical and fundamental analysis.

Have fun!!

Edit: correction

u/o_oli · 10 pointsr/unitedkingdom

This probably has nothing to do with it...

Ignore the authors surname, also totally not relevant.

But seriously, some politicians serve only themselves and their friends, its hardly a secret that its always been the case.

u/AnnoyinTheGoyim · 10 pointsr/Drama

Read “Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor” by Seth Klarman. It’s only $1,000 on Amazon.

u/LucianConsulting · 10 pointsr/premed

When Breath Becomes Air - Paul Kalanithi

Being Mortal - Atul Gawande

Better - Atul Gawande

Honestly anything by Atul Gawande

Start With Why- Simon Sinek (Just finished this one today. Phenomenal read. Not medicine related, but a great perspective on what leadership means and how you can inspire those around you)

The White Coat Investor - James Dahle (Financial literacy is always a good thing)


I have quite a bit more book suggestions if you're ever curious, but those should keep you busy for a while. Feel free to DM me if you want more!

u/[deleted] · 10 pointsr/DaveRamsey

Unless you need complicated estate planning advice, there is no reason not to DIY.

Read this book:

Or TL/DR version:

If you are just setting up a Roth IRA and want to get started, go on Vanguard/Fidelity/Schwab and buy a target date fund close to your retirement date. Done.

Paying loads and buying high cost mutual funds is beyond silly in 2019.

u/zardfizzlebeef · 9 pointsr/Flipping

One of the rarest books out there is "Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor" 1st Edition
by Seth A. Klarman
. Will fetch you $1,000+ on Amazon and people WILL buy it at that price.

There's a pretty interesting story behind it. Klarman is a famous investor and he only sold a few thousand copies then ceased production. It's considered a "holy grail" for anyone into investing/trading.

u/kajsfjzkk · 9 pointsr/personalfinance

\> This is not a financial problem, this is a trauma problem.

Perfectly said.

OP, in therapy you can talk about your experiences growing up with financial worries. A good therapist can help you explore how those experiences affected you and help you identify the narratives you tell yourself as a result.

It sounds like the financial hyper-awareness has actually served a very useful purpose for you so far. You did well in school and worked your way into a good career. But there's a saying: "What got you here won't get you there." Now your anxiety around finances is holding you back, and you would be better served by spending less energy worrying about finances while still putting a plan in place to responsibly manage your finances.

A therapist can also help you retrain your thinking. Cognitive Behavioral Therapy is one type of therapy which is aimed at retraining negative automatic thoughts. You identify negative thoughts and write them down, then apply techniques from the CBT toolbox to understand why those thoughts are distorted and replace them with more adaptive thoughts that better reflect reality.

The key point is that your brain won't let you simply choose to stop thinking a negative thought, because there's usually a kernel of truth. You need to replace the negative thought with a new thought that also true but is more adaptive.

So for example, when you think:

\> I'm suddenly gonna lose all my money at the blink of an eye

You can write that thought down, then look at a list of cognitive distortions and identify things like "all or nothing thinking" and "jumping to conclusions". From there you can identify potentially useful CBT techniques. Some techniques work better for certain types of cognitive distortions. So you might try techniques like exploring "What's the worst that would happen? How would I need to react if I actually lost all my money?", or you might try keeping count of unwanted thoughts to make yourself better at noticing them as they appear. There are dozens of techniques.

I'll note that studies have actually shown that CBT from a book can be just as effective as CBT with a therapist. I'd recommend finding a therapist if you're able, because they can help in ways that a book can't. But it's worth mentioning for anyone who isn't able to see a therapist, or isn't sure whether their therapist is any good.

You can just open up the book, start reading, and do the exercises. The key is that you can't just skim the book. You have to actually do the work and write down your answers.

Here's a good book on CBT:

Here is a good blog post on how to find a therapist:

Finally, one way to feel more in control is to learn more about managing your finances. I'd recommend reading a good book on personal finance, like this one:

And then I'd recommend writing out an "investing policy statement". Basically it's a written statement describing your financial goals and long term plan of how to attain them. You're effectively writing instructions for your future self. This can help put worrying to rest. For example, you can consult the statement to remind yourself that you planned to save $___/month toward a house and $___/month toward retirement. If you are meeting your goals, you shouldn't feel guilty about spending money on things you enjoy.

Here's a blog post describing an investing policy statement:

u/giladnaor · 9 pointsr/personalfinance
u/jrharte · 8 pointsr/UKPersonalFinance

Read this:

Follow this:

Notice on the flowchart that seek financial advice is waaaaaaaaaaaay at the bottom and basically the very last thing on the list.

Also, it would help the sub if your were a bit more specific in your question and gave details of your situation. i.e. current income and outgoings, current savings, goals for your money etc.

P.S. Those fees and costs are RIDICULOUS. Run away from whoever that is.

u/Lynart · 8 pointsr/PersonalFinanceCanada

Take some of that money and invest it into some good books because Redditing will not give you anywhere near the amount of information a well thought out book will.

The one listed below covers a ton of information everyone should know involving the stock market, including mutual funds, bonds and etfs

u/cheeseburger12345 · 8 pointsr/personalfinance

My stepdad is a financial advisor and he recommends this book for young people: Get a Financial Life: Personal Finance in your 20s and 30s.

u/zippy4457 · 8 pointsr/financialindependence

Antifragile by Nassim Taleb. Things that are Anti-Fragile are better than things that are fragile... In FI terms it means things like being debt free > being in debt, low living expenses > spending everything you earn and then some, etc.

In general being FI is inherently anti-fragile.

u/GSpotAssassin · 8 pointsr/Bitcoin

Book plug which you are referencing:


I'm actually in the middle of reading it. Great ideas!

u/Beren- · 8 pointsr/SecurityAnalysis
u/TheRealAntacular · 8 pointsr/investing

Don't have any textbooks to enumerate here, but as far as "regular" (or as regular as an esoteric topic like quant investing gets) books go:

u/oldskool47 · 8 pointsr/ethtrader

According to, it's available for pre-order and will release on July 25, 2017. Of course this may or may not be accurate. Cheers!

u/hamletmachine66 · 8 pointsr/ethtrader

Only one I’m aware of is the pre-order for Andreas’ new book Mastering Ethereum - but that’s not out til early next year:

Mastering Ethereum: Building Smart Contracts and Dapps

u/NachoDynamite · 8 pointsr/personalfinance

The younger you start savings the better off you'll be. Even if it's just a little every day.

READ: The Richest Man in Babylon

READ: Rich Dad Poor Dad

Do this, and you'll be ready to be on your own.

u/romman00 · 8 pointsr/personalfinance

The Bogleheads' Guide To Investing. First book I read about investing, does a great job explaining concepts and actually teaching IMO, especially for someone not familiar with investing. Can read it from front to back cover and learn a lot.

u/yankee-white · 7 pointsr/Bogleheads

Start by buying yourself a copy of the Boglehead Guide to Investing. It will be the best $20 expense you'll ever have in investing. Beyond that, we don't know much about you or what your investing goals are.

u/marcusaurelius_stoic · 7 pointsr/eupersonalfinance

It really depends which kind of saver/investor you are.

My recommendation is to start from with the bogleheads wiki:

u/HPCer · 7 pointsr/algotrading

Well, the trick is to do one step at a time. Your goal is a very reasonable one, but you'll want to focus on the foundation first. For a non-programmer, I would recommend starting off with Code Academy or Coursera. The advantage of the second link is that it immediately provides you with a sense of direction while learning a language. Code Academy's Python tutorial is really nice in providing interaction with your code. Regardless, you'll want to first gain a sense of syntax on your language of choice.

After you're familiar with at least one language, the next most important thing is to become familiar with data structures and algorithms. This book on Amazon is amazing for giving beginner advice in the area:

The book is not overly complex and mathematical compared to many other books, and it provides a fairly reasonable foundation for any beginner. If you ever want to practice writing basic algorithms out (optional), visit Codility's lessons to try things out. Once you can comfortably complete some of their lessons with a high grade and understand their topics, you should be ready to dive into the math/finance side. I feel that at this point, the Max Dama paper is a great way to get an overview of the basics. Regardless of the financial instruments you're trading (I've mainly worked with equities), you'll need a sense of portfolio management. Here's two books that may be worth running through:

They're both equities based (and I could be wrong here about FX), but it's probably a good idea to get a sense of how to measure returns. Regardless of the asset class you're planning to trade, all algorithms should be rigorously backtested and simulated (traded with virtual money) prior to being moved into production, and one of the best ways to improve your outcome is to know how to measure the returns and risks associated in your backtesting/simulations.

Hope this isn't too much information at once, but it should be a start. The first two courses throw-it-out mentioned in Coursera is a great start too.

Edit: I'd also take some time to browse some of the links on the sidebar in this subreddit. Some of those links are immensely helpful (especially the Statistical Learning one). Many of the strategy links are fairly easy reads and are recommended as well.

u/Dunning_Krugerrands · 7 pointsr/ethtrader

Lol, I think Gavin Wood & Andreas kind of have that covered.

u/btfftb · 7 pointsr/ynab

YNAB flow chart.

First off - either in YNAB, Google Sheets, or with pen & paper - write out EVERYTHING you spend money on. Check your bank statement to help you. This
is what mine looks like.

Now, dig deeper if you haven't already . Don't just estimate how much you will spend on gifts - set a budget for those people you enjoy gifting to. What does that look like - how much are you spending? write it out! Set a budget for anyone you gift to! Here is mine.

Have Credit Card debt? Make sure to stop using those RIGHT NOW! Begin paying those off ASAP.

TIP: not sure how much your bills will cost you? OVER budget! My Electric bill is $22 a month in non summer months. but my bill come summer and the AC is on comes out to be $50-60 per month. So i budget $40 year round. This evens out. Be conservative on all your numbers.

Great! Forgetting anything? Add it when you think of it.

"Beware of little expenses. A small leak will sink a great ship."

Once you have your expenses laid out - make sure you are spending less than you are making. YNAB won't help you if you don't help your self realize what your financial priority is. Is it makeup and shoes or is it Saving 6 month worth of an emergency fund & eventually a house. Be wise. Only you can help you.

Now that you know how much 1 month of living costs you and your debit is paid down or off - multiple the 1 month by 3months. Say the month costs you 3K x 3 = $9K Emergency Fund. Now you have a financial goal . /r/personalfinance can really help you determine what goal fits you best. This was just an example. I personally am trying to grow a 6 month E-fund.

Determine how quickly you can afford to meet that goal of a 3 month emergency fund. Will it take you 4 months or 12 months? How ambitious are you? Are you willing to not buy clothes for a few months? Again, this is where you have to determine YOUR goals and what track you want to be on. This has nothing to do with YNAB but read Rich Dad Poor Dad. Figure out what you want to do and want in life.

Once you have your expenses broken down into a monthly budget. Input that data into YNAB. Rent, Electric, Internet, - assign a monthly goal - why not? You know how much you need each month so assign the goal.

This is what my YNAB currently looks like. Organize yours how you see fit. I like to organize based on Priority and Due Date. It's just what works for me.

Notice "Gift Giving" This way doesn't work for everyone - some might say it's over kill but it's what works for me! It's what i need to realize my financial priority. I assign every gift a Goal by date - Generally 1 month before i plan to give the gift so i have 1 month to shop. Example i budget xmas for atleast November so i have 1 month to shop for gifts.

TIP: Don't buy anything makeup, shoes, etc impulsively. Add and Itemize everything to a Wish Farm Category . Hands down one of the best things I did. Makes you realize how many things you thought you wanted but for sure can live with out because there is other things you NEED.

If you have any questions let me know. YNAB has changed my life for the better - got me on the right track and I know you are on the right track just because you have posted on this sub but you have to commit to using YNAB DAILY!!!!! Every time you a financial transaction happens - log it! Every time you have inflow of cash (get paid) Assign every dollar to your true essentials not things that don't help you.

Don't neglect the YNAB blog - they have a bountiful amount of information on the proper way YNAB works.

u/RedcurrantJelly · 7 pointsr/unitedkingdom


Next he's going to say "And that Sovereign Individual over there, yes, Jeremy Corbyn - that disaster capitalist! Total hypocrite! Under Corbyn, blood will be running in the streets!"

u/KlutchAtStraws · 7 pointsr/worldnews

Johnson is the worst kind of self-centred political opportunist who is doing to nothing to try and save this shitshow. He is full steam ahead on no-deal, backed by his adviser Dominic Cummings (who appears to be wielding far too much power for an unelected adviser), his 'Leader of the House', Jacob Rees-Mogg and a cabinet packed with nodding Brexiters. The last sensible moderate Tories have all gone. One-nation conservatism is dead.

During the referendum campaign, there were many Leavers who talked about this or that style of trade deal or arrangement but we are heading for no-deal, the worst possible outcome.

The only reason I can see for this is Boris and his chums stand to do very well out of the whole thing. Jacob's Dad wrote this lovely tome a few years back which is the blueprint for making a killing while the world burns.

u/Cryptolution · 7 pointsr/Bitcoin

> N Taleb claimed that, for Bitcoin to succeed, it must be banned by a few governments. I generally agree; the effects of a formal ban could be either good or bad.

Well that does it. I've gone and ordered Antifragile , Taleb is just too reasonable and I think I need to soak in his wisdom. Im a big proponent of neccessary friction in society, and I think that bitcoin needs it to succeed, which I do think it has quite a lot with statist crying terrorism, drugs, murder for hire, etc, despite all the empirical evidence pointing to the fact that it is our established banking system that is the source of the majority of these issues.

u/bronyraur · 7 pointsr/Frugal

Agreed, rich dad blows. It's a complete joke along with most of the parents' book recs.

Edit: OP, in the spirit of being constructive I'm going to link you to one of my favorite investing books. It's written by one of the best contemporary value investors, Seth Klarman. Klarman, through his investment organization--The Baupost Group, has returned upwards of 20% annually for years. His 1991 book, "Margin of Safety", sells on Amazon and the like for $1500+.

Link to the Margin of Safety PDF

For a book about mutual funds you can do no better than "The Bogleheads Guide to Investing"

u/Mostofyouareidiots · 7 pointsr/investing

"The neatest little guide to stock market investing" might be what you're looking for. I haven't read it but I just picked it up off my book shelf and it looks like it covers the basics of how and why the markets work, common valuation ratios, brokers, how to make different types of orders...

u/pflurklurk · 7 pointsr/UKPersonalFinance

> As I'm still pretty new to investing, I was wondering if any of you had any advice, tips, suggestions for me.

Go here:

Then here:

Then buy this book:

You'll thank me in 30 years. Best return on £20 you'll ever invest.

Don't forget to keep some cash on hand because you are young and your perspective on life is probably going to change quite significantly in the new few years.

u/classiste · 6 pointsr/gadgets

If their stock dropped 61% because apple pulled out - they don't have a bright future. You sound like the kind of person interested in investing in coal.

Edit: Educate yourself:

The past is not an indication of the future in investing. You are speculating, one of the worst things you could do as an investor - here, educate yourself some more:

u/WhatsToBeSaidNow · 6 pointsr/wallstreetbets

And then PM me questions. If you have the risk tolerance and the capital to be doing what you're doing with TSLA and the mind to graduate with the degree you're getting you could be making a literal fortune. No joke.

u/Generalj10 · 6 pointsr/quant
  • Hull's Derivatives is the bible
  • Stigum's Money Market is a legitimately enjoyable read and taught me SO MUCH
  • Fabozzi's Fixed Income Handbook is a good general overview of the FI market. (More widely known than, but not as good as Stigum's.)
  • I don't know where your programming skills are, but try to model out anything that you find interesting in the books above using Jupyter. This will help a great deal with internalizing what's happening mechanically underneath the concepts you're learning.
  • How I Became A Quant for easy train/bed reading.
  • Mandlebrot for a dose of realism. Models are always wrong.
  • The Medium of Contingency for a glimpse into the mind of a practitioner. It's... weird.
  • Cliff's blog because he's humble (and also my idol). His chapter in How I Became A Quant is the best, imo.

    disclaimer: Not a quant, never went to school for it nor worked in finance. I just like reading. This list is more than enough for the summer, but let me know if you want material focused on anything in particular. (Structured products, history, etc.)
u/trocky9 · 6 pointsr/investing

Judging from the broadness of your question, I'd suggest buying (or checking out from the library) a couple of books about investing. Start with the basics like: Charles Schwab, Peter Lynch, and Burton G. Malkiel. Right now, education is probably the best investment you can make (besides enjoying your life).

Ninja edit: It's good to be thinking and asking about investing, but, if you are serious about investing a serious chunk of money, learn the basics for yourself. You'll be better prepared to make the best decision for your money and your lifestyle.

u/BigFrodo · 6 pointsr/AusFinance

Disclaimer: I'm mid20s guy with less invested in shares than I have in my super. The following is what I did to get started in investing which sounds like you're about where I was a year or two ago.

First of all; depending on your circumstances be aware that ING Direct's or ME Bank's savings accounts are currently giving 3.00% interest which might be better than your term deposit if you don't want to go whole hog into shares right away. (ING Direct also does $50 bonus referral codes so expect a flood of PMs now that I've mentioned this)

As for books:
/r/FI's wiki makes some good recommendations from what I've read of them


>* The Bogleheads Guide to Investing

  • A Random Walk Down Wallstreet
  • The Four Pillars of Investing
  • The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
  • Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School -- Suggestion - Ignore Rule 9 regarding individual stock picking.
  • The Intelligent Investor -- Caution - Embark on individual stock ownership at your own risk.

    The lowest barrier to entry would be that "acorns" app but I strongly recommend taking the couple days to make a CMC account or some other online brokerage with low fees and buy ETFS through that instead so that you're actually learning how it all works and not just pressing buttons on an app. Link it up with free Sharesight account for pretty graphs and easy tax reporting and that should teach you more about "having a share portfolio" than the majority of the population.

    Obviously this subreddit and /r/fiaustralia in the sidebar are worth keeping an eye on for insight from people with more skin in the game than me.


    Now, the other option is you want to ACTIVELY trade that $1k. If you've read some of Bogle's explanations on why that's a bad idea, realised you'll be competing against people with much bigger budgets and a full time job anaysing these things and understand that even at CMC's low $13 flat fee you're losing 1.3% of your $1k packet with every trade then you'll need advice from someone other than me.

    Personally the best investment I think I have made so far was my $1k of "beer money" that I threw into bitcoin. Not because it made a good return, but because after months of careful analysis, frequent trading and keeping an ear to the ground on new alt coins I turned my 3.5 bitcoin into 1.05. I didn't end up losing a cent thanks to other factors but seeing how badly my "high risk, high gain, actively managed portfolio" went I'm ecstatic that I learned my lesson with $1k and not with my self-managed super fund at 57 y/o like several people I know.

    TL;DR: Anything by John Bogle
u/joshrda · 6 pointsr/suggestmeabook

I'm kind of in the same boat. The folks at /r/personalfinance suggested A Random Walk Down Wall Street, which I'm about 20 pages into. It gets updated every so often, so the info should be pretty current. Seems pretty good so far.

u/this_guy83 · 6 pointsr/personalfinance

You owe it to yourself to understand what you are actually buying when you "invest in the market." A Random Walk Down Wall Street cannot be recommended highly enough. Check out the newest edition from your local library.

u/atticusmitch · 6 pointsr/FinancialCareers

You'll hear this a thousand times but read A Random Walk Down Wall Street. It has a good overview of America's market history, specifically the last decade. Make sure you buy a revised version.

Some people may suggest Intelligent Investor and Securities Analysis but I found them very dated.

Also here is the r/personalfinance reading list:

u/elbyron · 6 pointsr/PersonalFinanceCanada

It really depends what you want to save for. Are you planning to buy a new car soon or go on a nice vacation? Saving up for a downpayment on a house? Saving for retirement? Some combination of these?

For any portion that is shorter term (car, vacation, house) you're probably good with just keeping it in savings accounts, though you might want to check out some high-interest TFSA accounts that probably pay a much better rate than what you're currently earning.

For retirement savings, you should invest in stock markets and bonds, though not directly. Mutual funds or exchange-traded funds are your best bet, ideally sticking with low-cost "index funds". There's a lot to be learned before you begin this journey, and so I suggest you start out by reading these great personal finance books:

  • The Wealthy Barber Returns, by David Chilton. You can still get a free copy here even though it says the free eBook offer expired Dec 31.
  • Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School, by Andrew Hallam. Check your local library, or buy it on Amazon in paperback or Kindle.

    Both of these provide solid coverage of all the basics of personal finance, and a good intro into investing. They are somewhat lacking in the actual implementation of the investment strategies they discuss, so for that I recommend an eBook called The Value of Simple, which you can get from Chapters, Amazon, or from the author's website.
u/john1443 · 6 pointsr/Finanzen

Ich hab's nicht gelesen - vielleicht The Bogleheads' gGuide to Investing? Oder eines der anderen Bücher auf dieser Liste?

u/mimefrog · 6 pointsr/investing

A lot of people feel strongly that provides a sound strategy. They have a book as well.

u/Rufio6 · 6 pointsr/finance

Expected Returns

AQR publications (Cliff Asness / Antii Ilmanen):

Other than that, CFA material. The CFA stuff that is relevant is golden, the rest of it is just good to know. If you don't want to be a charterholder, you can still find sets of the books for $180 or so.

u/TK503 · 6 pointsr/USMC

yaaaaa... this kid is the classic example of a money burner

He has minimal work experience as an 18 year old. Fortunately for me i joined when i was 23 so i was a little more level headed about spending but im worried for him

someone else here linked this book and since i know he wont read it, maybe i will to give him some tips along the way

u/russilwvong · 6 pointsr/PersonalFinanceCanada

In your situation (single, making $350K/year), plowing most of your income into savings makes perfect sense. Income is much more volatile than it was a generation ago. Peter Gosselin.

Andrew Tobias (The Only Investment Guide You'll Ever Need) suggests practicing delayed gratification--you get a surprising amount of satisfaction from having something to look forward to, not just from the thing itself. You want to have a standard of living that gradually increases over time, not one that's flat or declining. It doesn't make sense to have EVERYTHING RIGHT NOW, because then you wouldn't have anything to look forward to.

I like to use a hypothetical budget. Pretend that you make only $65K/year, and you're saving 10% of that (putting $6500 into an RRSP). According to this tax calculator, your after-tax income would be about $53,000. $6500 of that goes into savings, leaving $47,000 for spending. Then figure out how you want to allocate that money. Over time, you can gradually increase your hypothetical budget.

The other reason for restraining your spending with a hypothetical budget is that it makes it far faster to achieve financial independence (the point at which your investment income, at a 4% or 5% nominal return, is enough to cover your annual spending).

Dating may also be easier if your lifestyle isn't too extravagant. It's probably easier to relate to someone who has a regular middle-class lifestyle, not some crazy rich-person lifestyle.

For more on how rich people often maintain a regular standard of living, see The Millionaire Next Door.

More specific budgeting advice: you may want to review your transportation budget. If you buy a new car for $30,000 every five years, you probably want to allocate $6000 each year, not zero for four years and then $30,000 in year five. Your repairs and maintenance budget also seems low.

u/william_fontaine · 6 pointsr/financialindependence

> Yeah, that is why his book sells more than $1000 at ebay and Amazon !!!

Wait, seriously?

Yep, it's $1,190.54. Holy cow.

u/SgtGears · 5 pointsr/UKPersonalFinance

Have a look at the flowchart.

As said by /u/GordonCopestake, your goals should not be a reaction to the money. If you don't have any concrete goals yet, now is a good time to think about them. However, do so pretending you don't have that £20k.

A couple of options to think about:

  1. Put the money away as savings in some current account(s) until you have decided what your goals are. It's probably a good thing to start with regardless, as it makes managing the money easier. Look at this website to see how to best manage the £20k. If you want to keep things simple: open a Santander 123 and put it all in there.

  2. If you're looking at property soon, a LISA might be good for you. You should first complete option 1, and then work out how much you want to move to your LISA every year afterwards.

  3. Don't have any plans for the next 5 years (at least)? Maybe investing is an option then. This book is frequently recommended to read up on investing and what to look out for.

    Whatever route you take, I believe option 1 is usually a relevant starting point, so I would advise you look into that first. It keeps your newfound savings split from your checking account, and helps you keep a good overview of your money.

    Good luck.
u/SgtJockMacPherson · 5 pointsr/DaveRamsey

The best thing you can do is read and then read some more! Find those articles about investing and start learning the language. You can probably find what you need from a couple of books at the library or you can find them on Amazon but if you need help understanding it, then get help. You can call an investment broker in your area and schedule a meeting. They will usually spend some time with you for free in hopes that you will invest with them in the future.

[Mandatory link to Bogle type book] (

u/erlo · 5 pointsr/finance

I recommend you read this book.

Call it what you want. "Bullshit" or whatever. I don't disagree with Buffet btw, on a total return basis it's hard to beat the market. But if you care about other metrics, and you have access to cheap funding, and you're trying to preserve capital, then it's not "bullshit". There's a reason good pension funds are heavily diversified.

But yes, let's be abrasive because people don't agree with you.

u/josiahstevenson · 5 pointsr/badeconomics
  • Expected Returns by antti Ilmanen
  • Asset Management by Andrew Ang
  • maybe Asset Pricing by Cochrane

    The last one doesn't really give you an overview of real-world institutional details as much, whereas Ang and Ilmanen both have really extensive introductions to this. Both Ang and Ilmanen spend some time on the economics of why this works -- utility-function-based explanations of why we should expect things to have positive expected returns anyway -- but they add a lot on how this looks IRL (how the relevant instruments and markets for them actually work, what classes of investors tend to buy them and why, what kinds of risk factors they're exposed to, etc)

    Edit: I recommend against Ben Graham's book actually if you want a broad overview. I don't think he even touches factor investing, for example. Focuses on how to pick stocks by valuing the company on a fundamental basis which...shouldn't add value. Has little tie in to academic finance, unlike Ilmanen and Ang which both give you a good idea of what the seminal papers in various areas are and what's going on in the literature lately.
u/Counter_Proposition · 5 pointsr/investing_discussion

> How easy/difficult is it to get a hold of stocks like Apple, Amazon and Walmart?

Very easy, perhaps too easy. You can start with Robinhood, but it's not an app for serious investors IMHO (E-Trade is, however).

What I've done so far is reading "The Simple Path to Wealth" by J.L. Collins. The book basically details how low-cost broad-based Index Funds (VTSAX in particular) are a safe bet and how they can help you get moderately wealthy over the course of several years. It's not exciting or "sexy" but the thing is, just like most things in life worth doing, there are no shortcuts.

u/TheEndTrend · 5 pointsr/RobinHood
u/ibdx · 5 pointsr/personalfinance

The most efficient way to pay off post college debt is to maximize your post college income. Focus and invest in yourself during college. Any work or income during college will likely be meager and not make much difference (My savings during college and grad school were basically pennies to what I earned afterward). If you are interested in reading you can start for free from the bogleheads wiki or one book I like is The Simple Path to Wealth

u/tedmiston · 5 pointsr/financialindependence

I thought the pronunciation was very clear! And thank you, adding to Overcast by feed url worked.

I just finished JL Collins book The Simple Path to Wealth before this one and highly recommend his stuff as well. The book is largely pulled from the content of his blog posts.

u/Argosy37 · 5 pointsr/financialindependence

You, sir, need to read The Bogleheads' Guide to Investing. That or just read around the Bogleheads wiki. This page is a good place to start.

u/MFurey · 5 pointsr/investing

They've updated Security Analysis too.

u/praeconium · 5 pointsr/options

That guide lists some amazing books but weirdly it doesnt mention the "options Bible" which will teach You everything You look for.

Options, Futures and other financial derivatives - John Hull

Plenty of pdfs online as well

u/G_Morgan · 5 pointsr/UKPersonalFinance

I'd definitely invest some of it. The younger you are the easier it is to generate a good retirement. FWIW £60k in the stock market in an ISA or pension from age 25 until retirement will generate £500k real terms by retirement on an average return (as always average return is not guaranteed, you also need to be brave enough to not panic during the 3/4 crashes you'd live through). That is assuming you don't personally put a penny in after the initial deposit.

If you are 25 or under you've basically already achieved what is shown on the graph below for free.

This said I'd definitely look at the flowchart others have posted and consider your objectives and take some for just spending for the hell of it right now. If you put half of the amount into a SIPP you are already beating the average pension pot in the UK (which is disturbingly only £26k). You have a choice between either effectively a near guaranteed easy retirement by putting £60k into a passive pension fund and leaving it for 40 years, meaning you can basically spend nearly all your income for the rest of your life. Or you can put some away and still guarantee yourself a huge pension with relatively modest contributions over the years.

If you want advice about how to do this I'd look up the recommending reading, the book I've linked below is excellent. Then look up the rules about investing in a SIPP or S&S ISA. I'm not sure what the rules with a pension are with regards to inheritance.

u/q_pop · 5 pointsr/UKInvesting

Over at /r/ukpersonalfinance we have a small "recommended reading" list that's worth looking at.=:

> Intelligent Investor - Benjamin Graham
> This book was written by the father of "value investing", and the mentor of Warren Buffett, who is widely accepted to be the world's most successful investor.
> It was originally published in 1948, but Ben Graham updated it periodically over the years, and it stands as true today as it ever has.
> Beating the Street - Peter Lynch
> Published in 1994, this is arguably showing its age more than Intelligent Investor. Either way, valuable reading from one of the best managers of money in the past few decades.
> Naked Trader - Robbie Burns
> Subtitled "How anyone can make money trading shares", this is an entertaining, tongue-in-cheek account of one financial journalist's attempt to quit his job and make £1,000,000 using a short-to-medium term trading strategy. Not very scientific, but an interesting counterpoint to the previous recommendations.
> Smarter Investing - Tim Hale
> The ultimate counterpoint to attempting to "beat the markets" - after spending 15 years working in active fund manager, Tim Hale concluded that the best outcomes for most investors in most situations would be a simple portfolio of "passive" investments (that is, funds which attempt to track a market, rather than outperform it). This style is favoured by the likes of Monevator, and many of the subscribers here.
> Berkshire Hathaway's annual shareholder letters - Warren Buffett
> Not a book, but a series of essays over the years from the world's most successful investor. Makes interesting reading! Notably, the 2014 letter (not published in the above link but published here in abridged form) implies that he now feels most investors would be best served by low-cost trackers.
> The Financial Times guide to investing - Glen Arnold
> A great starter guide, going from the very basics (why businesses need shareholders) to more in-depth explanations of different types of investment, and step-by-step guides on how to execute trades.

u/ResoluteMan · 5 pointsr/personalfinance

Put it in something like this.

u/odraciRRicardo · 5 pointsr/portugal

Se queres ganhos a curto prazo compra antes raspadinhas.

A longo prazo A Random Walk Down Wall Street

u/jacobheiss · 5 pointsr/investing

A lot of this comes down to how actively you want to engage in the process, how much of an "enterprising investor" you want to be as opposed to a defensive investor.

For the more defensive position, a lot of /r/investing appreciates Graham's approach emphasizing value, even if a substantial quantity of capital is devoted to playing the market itself (something Graham called speculating). If that approach is interesting to you--which seems likely given your stated desire for low to medium risk with steady growth--then the main adjustments you'd need to make are as follows:

  • Quit sinking the majority of your capital investment into just a couple stocks and stay away from actively managed mutual funds, too. For upwards of 80% to 90% of your capital, go with a balance of indexed stocks and bonds. A common way to do that is to subtract your age from 100 and let the difference be the percentage of stocks; in your case, we're talking 76% of your capital in indexed stocks and 24% in bonds if you did not set aside anything for more speculative forms of investment. If you set aside, say, 10% of your capital for speculation, then we'd be talking about roughly 68% of your total capital in indexed stock and 22% of your total capital in bonds. Periodically buy / sell to maintain this balance; some people who are really disinterested in closely playing the market do this only once or twice per year with long term success. Your goal here is to diversify your capital outlay in one of the most boring yet demonstrably low risk / consistent growth ways out there, and that is a portfolio heavily biased towards indexed stock and bonds. For a text that develops the logic and details of this approach, read The Millionaire Teacher.

  • There are tax advantages to contributing to a 401k; so, a lot of people would council maxing this out. Nevertheless, a 401k is just a type of account; you would still want to follow the principle in the previous point in deciding specifically what sort of investment you want to "point" your 401k towards. (I say this because some people are under the mistaken impression that a 401k is itself a form of investment, e.g. "I have some capital in stocks, some in bonds, and some in a 401k.")

  • With whatever quantity of capital you chose to devote to more speculative activity, say, 10% of your total capital outlay, think of this as your chance to experiment. If you like KO and WEN, great. As frequently as you want to play the markets, whether you want to go long on this stock or short on that, this (and only this) portion of your capital is yours to do with as you please. Have fun, but don't ever allow yourself to pull capital from your more secured forms of investment over to speculative activity if your goal is "low to medium risk with steady growth." Speculation is inherently risky; that's the way it works. And it's not something you can just do every once in a while with consistently solid results; it takes serious devotion.

  • Since you mentioned holiding a normal savings account and/or a CD, I'm going to mention that most folks council retaining upwards of 3 to 6 months worth of expenses in a totally liquid form of savings. This won't make you any money whatsoever (well, unless we wind up with a nice drop in inflation and you can take advantage of some pretty crazy rates select credit unions offer, like Baxter's "Rainy Day Savings" at 3.0% APY). But that's okay; the goal here is to have cash on hand for an emergency. CD rates are pretty terrible across the board right now; so, you're better off going with a high interest online savings account like ING Direct Savings or Discover Online Savings if you don't want to bother with or cannot get credit union membership enabling you to snag those nicer savings account rates.
u/Iinventedcaptchas · 5 pointsr/Anarcho_Capitalism

I learned this concept under a different name in Nassim Nicholas Taleb's book, Antifragile

u/buzzsawddog · 5 pointsr/M1Finance

Save a buck and borrow it from the local library.

I did not know about the 3fund book but think it would be silly to buy it :) it is going top tell you to balance for risk between a total market, total international, and total bond. It might talk about a split total bond/ total international bond... But hey might be worth a read if your library had it.

u/judgemebymyusername · 5 pointsr/personalfinance

DO NOT buy a new fucking car. This is the most common mistake I see newly enlisted kids make. If you do buy a car, make it something affordable like Honda or Toyota sedan. Learn how to work on it yourself - most AF bases have an auto hobby shop with tools and everything you need, even people to help you out. It's a great way to save money, make some friends, and learn some skills that will last you a lifetime.

And for God's sake put something in your TSP, at least 5% into the target date fund, especially your Roth TSP if you you manage to work for a tax free income at some time.

Take your first paycheck and spend $15 on The Bogleheads Guide to Investing. You'll thank me later.

Finally, open an account with USAA and do all your banking there, as well as all of your insurance. USAA access alone is something a lot of us want but can't get.

Another common mistake that newly enlisted make is getting married way too young or having babies way too young. Keep it in your pants. Some of these kids are divorced with 2 kids by 25 years old. Don't be that guy. And don't take up smoking cigarettes.


u/BlackwaterPark10 · 5 pointsr/DaveRamsey

Great job! Now go read this book, open a Roth IRA at Vanguard, and auto invest into VTSAX Mutual Fund for the next 40 years, and you will be unfathomably rich. Dont bother with bonds, simply VTSAX and maybe a spinkle 10% at most of VTIAX for some international companies.





u/dumbguy5689 · 4 pointsr/IWantToLearn

The following two books are highly recommended and also suggest Index fund investing. My wife and I just swapped everything over to this strategy as well.

Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School

The Wealthy Barber Returns

u/riskeverything · 4 pointsr/FinancialPlanning

I recommend 'the only investment guide you'll ever need' by andrew tobias. I read this about 20 years ago and am now financially independent and retired early thanks to its advice. He updates the book regularly. You can read the other reviews on amazon to see that its helped a lot of people. The book is aimed at the beginner but gives very solid advice. (I went on to read a ton of financial books over the years and the advice is backed up by many other excellent financial books). The book is aimed at the beginner and concentrates on what you need to know. I like the fact that he's very direct in his approach. For example for some very advanced and risky investments, he says 'don't even think about it'. Its written in an easy to read, kind of humorous style and you can read it in a few hours. He deliberately only puts one graph in the book. It worked for me.

u/smaug777000 · 4 pointsr/IWantToLearn

I'm biased towards



Investopedia helps to understand the specifics, but really ask yourself, what do you want to do with this knowledge? That's an easier question to answer than "how does all of wall street, finance, and banking work?"

u/Wild_Space · 4 pointsr/personalfinance

First step is to determine your time horizon. From there, you can determine how much risk you want to take on. If you wont need the $2,000 until retirement, then you can afford to be rather risky and go 100% into a stock market index. If you're going to need that money at graduation, then you're probably better off putting that money into a savings account and investing in some personal finance books.

I recommend The Only Investment Guide You'll Ever Need as recommended by Mark Cuban.

u/davesidious · 4 pointsr/brexit

Oh but they do. They buy the stuff that's going cheap, from desperate people willing to sell. They then hold on to it, and sell it back when it's worth more, use it as a write-off, or a thousand other things rich people not in the messed-up economy can afford to do. You can read about it in Jacob Rees Mogg's father's book entitled "Blood in the Streets: Investment Profits in a World Gone Mad". Yes, JRM's father literally wrote the book on how to make money from events such as Brexit.

And you didn't comment on the rest of EthiczGradient's post, so can we assume you agree with it?

u/Mr_Jekyll_Dr_Hyde · 4 pointsr/ukpolitics

I know you're being sarcastic, but for those who don't realise it here's a book on how to make money when economies go to shit, written by mogg's dad.

u/Cloverhands · 4 pointsr/whatsthatbook

This is a long shot, but could it be Antifragile by Nassim Nicholas Taleb? He has written more than 2 books, but his last big hit, The Black Swan, may have been the controversial book your customer mentioned.

u/wonder_er · 4 pointsr/financialindependence

Nassim Taleb wrote a book called Antifragile that gives one possible perspective on your question.

By putting yourself in a "safe" place (not 100% dependent on a job to pay bills, spending all your income, etc) you're making a small contribution to the health of the whole.

A small thought experiment: If everyone in America started saving 40% of their income tomorrow, what would happen?

Plenty of jobs would disappear, but there would be more than enough reserved to fund those who lost their jobs until something else became available.

Right now I'm planning on making significant contributions for my in-laws when they can no longer work. I'm 26, and am positive that I'll be providing a lot of care for them in less than ten years. That means that the more I can save now, the more I can care for them later, and keep them healthy and happy, while preventing them from being a drain on "the system".

Last thought - there's not a fixed dollar cost per child's life saved. If it was that simple, some huge foundation (Gates, Zuckerburg) would kick all the money needed to eliminate all malaria-related deaths ever. They could afford it. The challenges are so much more nuanced than that. So you couldn't save 30 lives a year with your $100k, even if you tried.

Great question, though. I love thinking through all of these kinds of things.

PS have you read Your Money or Your Life? I think it might help answer some of these questions.

edit: spelling

u/reaulopolt · 4 pointsr/personalfinance

I recently came across the book "The White Coat Investor." Haven't started reading it yet, but it seems well reviewed. Book is meant for students in addition to residents and attendings.

The author also has a blog in case you want to validate his content and advice first:

u/LoriousGlory · 4 pointsr/stocks

Understanding Options 2E

Option Trading: Pricing and Volatility Strategies and Techniques

Dynamic Hedging: Managing Vanilla and Exotic Options (Wiley Finance)

u/RuthBaderBelieveIt · 4 pointsr/UKPersonalFinance

No worries. If you're on track with emergency fund, pension and debts then savings are a good way to go either for retirement or other long term goals.

Stocks and Shares ISA invested in low cost index funds is probably the way to go. Take a look at the resources in the sidebar on this and there's plenty of historical discussion on this sub around which funds and platforms for S&S ISAs.

Tim Hale's Book 'Smarter Investing' is also well worth a read if you're thinking of going down that route.

Yeah it is, most people don't notice that :)

u/Noetyk · 4 pointsr/personalfinance

Go read The Bogleheads' Guide to Investing and you'll be set to get started investing. It's well-written and easy to understand.

u/GasStationSushi · 4 pointsr/Silverbugs

You need to go read some financial management books.
Here's one to start.

Assuming you're in the US and presumably in a low tax bracket, you should be putting money into a Roth IRA.

Sidenote: My company offers 100% 401K matching, no vesting period, and offers good low cost/fee funds. Yet I still have co-workers that don't fucking do it, despite being literally a 100% return on investment for just plopping money in there.

u/calcium · 4 pointsr/financialindependence

Welcome to the states! It sounds like you and your husband are doing quite well for yourselves. Saving for the future and being financially independent is a great goal to strive for. Maxing out your IRA and 401K is a great idea as it'll save money on taxes. Beyond that, I recommend low-cost mutual funds for nonpre-tax savings - a good book to read that's great for beginners would be The Boglehead's Guide to Investing. I also recommend checking out /r/personalfinance

As to worrying about lifestyle creep, there are a few tricks I like to do to keep me from spending needlessly. The first is to envision how long it would require me to work to be able to afford something. For example, you make $55k/yr or about $27.50 pretax, so if you see a new pair of shoes that are $125, you'd need to work for a little more than 5 hours to be able to afford them. Are they still worth it to you?

Another trick is to wait several weeks from buying large, expensive items. I like to set a price point for myself and if it's over that ($250) I need to wait several weeks to buy it. If I forget about it or find 2 weeks later I don't need it than I just saved myself money - it's saved me from buying a lot of needless electronics. This takes some will power, but I believe that you can do it.

u/andthenisawtheblood · 4 pointsr/personalfinance

I really like Investopedia University. It's free and very informative and they will have pages with short videos/articles explaining terms and concepts as well. A good start would be their Financial Concepts and Index Investing entries. Also wanted to add their Retirement Plans page. You'll mostly want to read about Traditional and Roth IRAs, and Qualified Plans.

The biggest tip I could give is to just keep reading, I found I was actually interested in this stuff so it was easy to read all about it. If you don't understand something make the effort to learn and then continue. It doesn't have to be complicated, index investing is a great way to build wealth over the long term.

I never really read any actual books, because honestly the best advice for 90% of people would be to just invest in index funds, and there's plenty of free information online, but you can read The Boglehead's Guide to Investing.

Bill Ackerman has a good video that does a good job of breaking it down.

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 -

If You Can by William Bernstein -

Free version is here -

The Investor's Manifesto. Preparing for Prosperity, Armageddon, and Everything in Between by William Bernstein -

The Bogleheads Guide to Investing -

The Coffeehouse Investor -

The Bogleheads' Guide to Retirement Planning -

The Four Pillars of Investing: Lessons for Building a Winning Portfolio by William Bernstein -

Total Money Makeover by Dave Ramsey -

Personal Finance for Dummies by Eric Tyson -

Investing for Dummies by Eric Tyson -

The Millionaire Real Estate Investor per red-sfplus’s post (can confirm this is excellent) -

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

Personal Finance Flowchart from their wiki -

Additional Lists of Books:

Subreddits - I would highly encourage you to spend a half hour browsing their wiki - and investing advice -

MRP References (original) (year 2)

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/goodDayM · 4 pointsr/investing

I'd recommend listening the Freakonomics episode The Stupidest Thing You Can Do With Your Money. And also reading this book: The Bogleheads' Guide to Investing.

Both will tell you about passively managed index funds. Most actively managed funds fail to beat them. Warren Buffett bet $1 million that an index fund would make you richer than if you entrusted it with hedge fund managers, and he won.

u/fireandnoise · 4 pointsr/finance
u/bigbag6 · 4 pointsr/LINKTrader

Awesome exposure, great for awareness about CL. And it's going to be on Amazon later this year! (already available for preorder: Somebody please make a Kindle version, please!

u/Yakuza77 · 4 pointsr/investing

If you want to keep it simple but effective, just like OP did, read this: The Simple Path to Wealth The simple path to wealth - JLCollins

u/oishiiiii · 4 pointsr/smallbusiness

I've read a lot of business books in the past year. These include:

7 Habits of Highly Effective People

Rich Dad Poor Dad

Think and Grow Rich

How to Win Friends & Influence People

Secrets of Closing the Sale

How to Master the Art of Selling

The E-Myth Revisited

The Compound Effect

The Slight Edge

The $100 Startup

The Toilet Paper Entrepreneur

I have 4HWW waiting to be read, in addition to about 15 other books that are sitting there, waiting to be read.

The $100 Startup is very inspiring, especially for people who have no chance at securing a "normal" job (I dropped out of college). The Toilet Paper Entrepreneur is also very informative. But out of this list, by far, my two favorite books are The Compound Effect and The Slight Edge. #1 going to The Slight Edge. Read this book. Maybe it won't apply to everyone as much as it did to me, but it totally changed my attitude towards life.

u/yt1300 · 4 pointsr/personalfinance
  • First of all congratulations. It's terrifying and awesome to become a father.

  • Get 30 year term life insurance today. You are going to sleep better knowing this is taken care of. No "cash value" life insurance. TERM!!

  • Read some books, The Millionare Next Door, Rich Dad Poor Dad, Financial Peace any of the etc. These books will give you some contradictory advice but they'll also give you the information to make your own decisions.
u/branstad · 4 pointsr/financialindependence

>i am ready to open a Roth IRA and Brokerage, so i did with Fidelity.


>i feel like just dumping all my money into Vanguard Target Retirement 2060 isn't the best idea

It's perfectly OK to have your investments in a target date fund while you learn more. Given your Roth IRA & brokerage are with Fidelity, the Freedom Index target date funds will be just fine (the Freedom funds without "Index" in the name are more expensive).

>i do want to actually learn a little more than "just dump your money in this target date fund"

The Bogleheads Wiki is a great place to start. There are links to a high-level page on lazy portfolios and specific pages for the Three-fund Portfolio, etc. The page on tax-efficient fund placement will likely be useful as your brokerage account increases.

Personally, I recognized there is value in simplicity. To that end, I work toward a version of a Three-fund portfolio myself. While I do not tilt toward small caps or specific sectors (like REIT), I do have a portion of my bond holdings in an intermediate tax-exempt fund.

Take your time. Consider developing an Investment Policy Statement. Read a book or two. Of course, posting here and/or the Bogleheads forum are great for providing context & examples or clarifying concepts along the way. Let some of the concepts sink in and ruminate before actually changing your portfolio.

u/ChideDaJungler · 4 pointsr/personalfinance

Your advice is biased by personal experience and anecdotes (2008). Real estate is not the great investment vehicle you make it out to be and even if it were, you could just buy REITs. Investing in a diverse portfolio has always outperformed all other investment types when viewed over the medium and long term and this even includes recent market crashes. Here are two books which used evidence collected from the inception of the stock market system to prove me right:

edit: punctuation.

u/busyroad94 · 4 pointsr/personalfinance

Another which had a great impact on me was Burton Malkiel's A Random Walk Down Wall Street...

u/whitneyhighwhy · 4 pointsr/badeconomics

So to buy A Random Walk Down Wall Street in bulk, these bastards are charging 17.16 a copy, around $5 more than what it would cost individually on friggin' Amazon.

[Something something EMH is crap]

u/miriverite · 4 pointsr/personalfinance

Hi, former Wall Street-er here. Sounds like you're more interested in fundamentals investing instead of technical? If so, read:

u/captain_mustang · 3 pointsr/UKPersonalFinance

Repeating /u/jrharte:
>Read this:

>Follow this:

One of the lessons in the book is that the aim of the game in investing is not to gain the most tokens but to ensure you loose the fewest. This means minimising your costs, especially when you're at the beginning of your investing journey. The miracle of compound interest means that every £1 you save now will be worth many more £ in 10-20 years.

Another element to consider is how good are you at picking winners? Do you think you can pick shares which will consistently beat the market? How about funds? Can you pick the best fund manager who puts together a market beating basket of investments year after year after year?

I'd wager that you'd be honest with yourself and say probably not. So what are the chances of you picking a market beating financial advisor?

u/ArchBanterbury · 3 pointsr/UKPersonalFinance

> Do you reckon in my case, I should continue to maximise the H2B then transfer at year end to my LISA, or open a S&S ISA now, and open a LISA next tax year?

If you haven't already, I'd strongly recommend reading the MSE guide for LISA and H2B ISA's; MSE Lifetime ISA Guide

Short Answer; Keep contributing to your H2B ISA, then transfer it across to a S/S LISA if you're comfortable with that before April 2018 to maximise your allowance and bonus you'll get.

Long Answer; speaking from my own experience and plans with my H2B and LISA, I currently have been contributing to a H2B since they were originally offered. I will continue to contribute to my H2B till early 2018 (around Feb) then I will transfer it to the S/S LISA I opened with Hargreaves for £100 back in June - The reason for opening it with just £100 is that your LISA must be open for 12 months before you can withdraw from it to buy a house. While we aren't actively looking right now for a house (and if seems like you aren't looking right now either) anything could happen.

The reason I've kept my money with the H2B and not moved it all over to the LISA already is that (and ignore that it's a S/S LISA) the interest I'm getting in the H2B is too good to miss up right now.

After my January 2018 payment into my H2B I'll have contributed £2,000 into it for this tax year. I'll transfer it to my LISA, which I have already started with £100 this tax year, allowing me to contribute the final amount of £1,900 as a lump sum. That means by April 2018 I'll have maximised my LISA allowance of £4,000. I'll also have transferred across my previous H2B contributions of around £4,200.

The 25% bonus is then paid on the whole lot after the end of the 17/18 Tax year, whereas had the cash been left in the H2B I would have to wait till I exchange on the house to see any of that bonus.

It's important to note that anything transferred from H2B to LISA after the end of this tax year will not benefit from the immediate bonus.

Your other points about moving from the Premium Bonds to a S/S ISA. I feel you'd be best served by spending some time reading up on funds available to you and what your goals are. Tim Hale's Smarting Investing is probably the best £15 you'll spend to give you an insight to the world of Stocks and Shares and should be your first port of call. Time Hale - Smarter Investing

u/Boiiing · 3 pointsr/UKPersonalFinance

> Do you have any recommendations for providers (beyond the list you gave)?

I use TD Direct Investing as my broker for both a non-ISA shares account, and an ISA account which is mostly shares rather than funds. I also use Sippdeal (AJ Bell) for my SIPP which does the same sort of thing (except I happen to be using their pension wrapper rather than an ISA wrapper) with a different fee structure.

If I was starting out today with an ISA I might use Charles Stanley Direct who have a reasonable price for holding a mixture of funds and shares, until you have about £20k, when some other options might be cheaper (their annual fee is a (low) percentage of your total assets but obviously costs more the more you have). Look for percentage fees if you only have (relatively) few assets and fixed fees if you have lots of assets.

If all I was doing was buying shares and not funds, and I only wanted UK shares (like RM etc), the cheapest option in or outside an ISA wrapper is probably, an execution-only no frills broker. But as a newbie you should not be buying shares in individual companies that you really know relatively nothing about (see comment below).

There is a decent comparison of costs of different brokers at ; Monevator is a good site overall and although it caters a bit more to the 'passive' investor rather than someone who trades shares or buys actively managed funds, due to the personal philosophy of those that run the site, the people writing there are pretty smart. Lots to keep you reading.

>I absolutely wouldn't sell then rebuy Royal Mail to move them into an ISA, I agree. Where do you think the Royal Mail stock is going to settle?

Exactly, if you had £1000 cash you would not buy RM shares now they have just spiked up 33+%. This tells you that if you have £1000 of RM shares you should not keep them. Where it settles is not relevant, you have just got gifted a free chunk of cash and that same day-one free gain is no longer available. If you want to gamble on it going up or down from here, you can, but you don't know what the odds are. So it is a game that mathematically you shouldn't bother playing. Sell the shares.

>Going forward I think I'd like to have about a 70/30 split between funds and shares picked myself (to practice investing, or something like that).

>Is this the right approach? I am trying to get into investing, and intend to put more money into it over the next few years. In your opinion, should I be focusing on funds and not holding some individual stocks myself?

Yes to the focusing on funds. A fund is a way of deploying £1000 into 100 companies across multiple geographic markets without getting out of bed and buying £10 worth of each of the 100 companies and paying £10 broker fees to buy each of them and £10 to later sell each of them, requiring each company to triple in value for you to even break even. Why would you want to access multiple companies? Diversification - you don't know which company will perform well or go bust. Why would you want to access multiple markets (USA, UK, Korea, China, Switzerland, Germany, Australia, Brazil)? Diversification, you don't know which country will perfom well or badly compared to your own.

There are different choices in funds with different exposures to different types of companies around the world. There are different strategies - if you buy a UK index fund you effectively put most of your cash in the largest UK companies so that when it says on the news that 'the FTSE 100 went up by 4% last month', your portfolio also went up by 4% because you have 70 quid of your thousand quid in each of HSBC and Royal Dutch Shell oil, and 2 quid in each of William Hill and Tate & Lyle, so your proportions mirror the index and overall your portfolio will move like 'the market'. Whether it is sensible to have over 30x the exposure to oil companies like Shell and BP than you have to sugar and milk companies like Tate or Dairy Crest, is another question entirely. But it is one option. Otherwise you can have an investment trust or a more 'actively managed' fund, where the management fees are higher but someone is making decisions to pursue a particular strategy to try to beat the market.

Reddit loves passive investing using indexes because it is easy and for Americans it can be tax efficient compared to active managers buying and selling underlying companies all the time. On the main /r/PersonalFinance forum they would tell you to just buy Vanguard index funds (extremely low fees, basic index tracking). Vanguard have a product called 'Lifestrategy' funds which you can get in the UK through the brokers I mentioned above. It is one fund which is a mix of different international indexes so you are not just following UK (your local index) or US (the biggest international one, half the investible world). Blackrock do a similar fund family called 'Consensus'.

The best thing you can do starting out with 3k in your ISA and wanting to get into investing, is spend a couple of percent of it on some books. Sure, best way to learn is by mistakes so you could buy some individual stocks. If they go up you will think it is easy and will learn nothing. If they go down it is an expensive lesson. So go with books.

Standard book recommendation for a UK newbie is Tim Hale's Smarter Investing ;new edition out this month, old edition now half price on Kindle.

I have that book, he is a huge fan of index investing / passive investing which as mentioned is only one way of doing it. But it's standard issue for a new investor.

A more balanced approach might be in Andy Bell's new book DIY investor, he owns AJBell which runs Sippdeal, Money AM, Shares mag, and Preview here . I haven't read it but the guy seems smart enough and the preview looks like what you want (i saw a promo link because as mentioned, I use SIPPdeal as one of my brokers/platforms). If you can sell your RM shares at a nice price, you might have enough for a couple of books and £250 free profit.

Hope that helps get you started, enjoy. Just don't count on next £250 being as easy as the last ;-)

[Obligatory "Edit: Thanks for the gold !!!1!!one!!!" ]

u/-Jonatron- · 3 pointsr/UKPersonalFinance

For my S&S ISA I put everything into this, you could save a bit of money and get HSBC FTSE All-World Index Fund C as it's essentially the same but with slightly less on-going charges.

I'd say I was on the upper end of risk tolerance though especially for medium term savings.

As for books I think this is the most recommended book on this subreddit for a very good reason.

It should be enough to teach you the power and benefit of investing in passive trackers vs trying to play the market via expensive active fund managers.

Plus there's a few other nuggets of valuable information tucked away in there!

u/reubenc98 · 3 pointsr/UKPersonalFinance

Personally, I would invest weekly in your situation. I don't see any benefit in waiting that week. The fee to you will be the same whether you do it once a year, once a week or once a fortnight. Do have a look into vanguard product's, they will automatically rebalance them which is handy. Sort of like a fire and forget investment.

But I cannot stress enough - you should read Tim Hale's Smarter Investing. You need to outline your goals and invest appropriately. Eg, if you're saving for a house and plan to buy in 5 years you would be better with a cash LISA...

£16.24 and it'll be the best investment you'll ever make.

Vanguard is actually as accessible as the UK FTSE - I'm not quite sure what you mean? You can go through your broker, Hangreaves Lansdowne and they will have all the funds available.,-prices--and--factsheets/search-results/v/vanguard-lifestrategy-80-equity-accumulation

It's that simple!

u/roju · 3 pointsr/canada

Read A Random Walk Down Wall Street and then buy a market-indexed fund. I use one from ING, but I'm sure there are other options.

Edit: Downvoted by people who think they can beat the market? Or people who don't like to read? Or the mutual fund managers who don't want people buying indexed funds instead of paying inflated commissions for below-market returns?

u/RoboCrapper · 3 pointsr/investing

Im a big fan of "A Random Walk Down Wall Street".

u/pfdean · 3 pointsr/PersonalFinanceCanada

Hey dude, kind of in a similar position as you. Started reading about PF a little more than 2 months ago and wish I had started 10 years earlier, haha!

Take some time and read before jumping into anything! Here's what I started with:

Wealthy Barber

then read

Millionaire Teacher

and now I'm working through

Guide to Investing


Random Walk Down Wall Street

You will learn a crazy amount about investing with these few books.

I also keep my eye on the RFD Personal Finance forum along with Canadian Money Forums, the latter being a lot more mature.


u/romper_el_dia · 3 pointsr/finance

Wow. Ok, two things:

  1. The article you are referencing is from 1996. This amazing review of exchange rate predictability by the leading scholar on the subject was published in 2013; and one of its key findings is that the success of different predictors in the FX markets changes over time, without any ability to forecast which one will be most (or at all) successful at any time. FX is literally the hardest thing in economics to forecast.

  2. You clear haven’t read or have willfully forgotten A Random Walk Down Wall Street, which does a beautiful deep dive into the meaninglessness of “technical analysis”.
u/dave4283 · 3 pointsr/StockMarket

Check out this book man. I'm just starting as well and its really helped explain things. Well put together and it's pretty cheap.

u/3ntidin3 · 3 pointsr/RobinHood

Here's a book on stock market investing for newbies that I thought was really great:

u/jetez_vos_sabots · 3 pointsr/PersonalFinanceCanada

No worries! Learning this stuff can be fun so I do encourage you to read, at least the CCP website and guide. It's easy to get lost in a lot of the finance noise on the Internet so the CCP site is about all you need for basic knowledge of getting started. For books, Millionaire Teacher was the first book I read and it provides a solid understanding of passive/index investing (I actually gave a copy of this book to a friend today and she's loving it so far). The Value of Simple is the next book I read, which provides a straightforward description of the technical aspects of investing. When you get to the end of The Value of Simple, you'll make an investment plan, open a DI account, and you're off to the races. If you don't know the answer to something, search the CCP website or this sub and you'll probably find an answer (or an entertaining discussion thread).

These few websites and books are the totality of what I had when I got started. Now I also read Garth Turner and Mr. Money Mustace pretty regularly, partly for the finance talk but mostly for the entertaining writing styles. I've adopted a variation of Garth's millennial portfolio for myself but it's arguably more complicated than it needs to be: a CCP portfolio covers you globally and for fixed income and equities.

u/bman2017 · 3 pointsr/PersonalFinanceCanada

There are a few books by Andrew Hallam that I found useful.

Other than that, questions asked on Reddit and the CCP have been helpful. Other books often recommended on this sub that I have read are often on personal finance in general, and what I like about Andrew Hallam's books is they are more on simple investing.

Once I found out how to view ETFs names and see what they meant, I googled ETF-A vs ETF-B. This helped me learn the difference.

The 3 largest ETF creators:

  1. Vanguard (all ETFs start with a V)
  2. ishares by blackrock (all ETFs start with an X)
  3. BMO (All ETFs start with a Z)

    I ended up just going with Vanguard. There is no reason you cant mix an match (BMO bond, Vanguard Canadian Equities, etc.) but you need to be aware of the different holdings of different ETFs.

    Example: iShares has south korea listed as a developed nation, where vanguard has south korea as developing. So if you buy the vanguard developed and the ishares developing nation ETFs, you would not own any south korea and you would lose exposure to companies like Samsung, LG, etc. You could also go with an ETF for all contries excluding canada (example: VXC - Vanguard excluding canada). You pay slightly higher MER but it keeps things simple. So you would hold VXC, A bond Fund (VAB for Vanguard), and a Canadian equities ETF (VCN for vanguard). If you wanted to break up VXC into 3 new etfs (you would have to manage 5 ETFS at that point), you would need to buy a US equities ETF (VUN), a Developed country ETF (VIU), and a developing nations etf (VEE). Or you can just keep it simple and manage 3 ETFs. CCP talks about transaction costs in some of the links i posted below, so there could be potential savings by paying a higher MER for the 3 ETF portfolio instead of managing the 5 etf portfolio.

    I would recommend the following posts on the CCP website:

    Posts on rebalancing:

    On ETFS:

    On Asset Allocation:

    How much canadian, US, Developed, or Developing equities should you have (no right answer, you will need to decide yourself):

    VXC (Vanguard Equities excluding canada) contains USA, Developed, and Developing - but these are not weighed equally in the index. So if you break it down into 3 ETFS - you should have a lot more of the USA ETF than the Emerging market. 56% of VXC is USA.

    But once you finish your research and determine what ETFs, and the portfolio %s it is easy (2 hours/year to buy ETFs and rebalance).

    If you have concerns, or would like your portfolio reviewed - you can post it on this website. Personally, my breakdown is as follows:

    5% VAB (Vanguard Bond Fund)
    30% VCN (Vanguard Canadian Equities)
    The next 3 funds can be replaced by VXC - Vanguard equities excluding canada - but i opted for the cheaper more complex approach:

    40% VUN (Vanguard USA equities index fund)
    20% VIU (Vanguard Developed Nations equities indexed fund)
    5% VEE (Vanguard Developing nations equities indexed fund)

u/nif_makria · 3 pointsr/UKInvesting
  1. Yes - An ISA allows £20k tax free.

  2. There are a lot out there. What you need to check for is how much does Natwest charge per transaction. i.e. to buy x number of shares how much does it cost. This kind of goes with your point 4. If you have £100 to invest, but it costs you £10 to buy and then £10 to sell you really only have £80 to actually buy the shares. Even if you bought £90 of shares, you would have to make 10% + just to get you back to £100, but then lose £10 when you sell them. So really you would need a 20% + profit just to break even after transactions !! If you manage to pick a share which is 20% + profit while your starting out - your very lucky :)

    Bottom line to buy shares and make it worthwhile you probably need £400+ - unless your happy to use the £100 just to test the waters and try things out. £400 would still cost £10 to buy and £10 to sell, but you would only need 5% profit to break even rather than 20%

  3. Instead of buying shares which come with a £10+ transaction fee (buy and then sell) - take a look at funds. Funds are generally long term 10, 15, 20 years - but you pay a small yearly % fee instead of a one off payment like shares.

  4. Dont buy a share based on its price - you need to research the company as you can buy partial shares.

    If your really really interested in shares over funds then read :

    If you happy to look longer term, then read about funds / passive invetments -

    Both these books are regularly recommended across this sub.

u/karenet · 3 pointsr/ottawa

I was going to recommend /r/PersonalFinanceCanada as well. I also recommend the following books:

  • The wealthy barber returns (only $10 and is sooo good!, I think it should be part of the high school curriculum)
  • Millionaire teacher

    They are both super easy to read and I can almost guarantee they will make you hate high MERs enough to switch to DIY investing or robo-investing.
u/ehcu0d · 3 pointsr/DaveRamsey

Got it.. 1st, find out from your employer if they offer an employer match. Make sure you capitalize on that because that is free money. 2nd, 15% of your income should go into retirement (pref. after tax- better to get taxed on ex. $5,000 now, then to get taxed on $2 million when you retire and withdraw). There are two types of mutual funds, actively managed (have higher expense ratios) and index funds (lower expense ratios). Vanguard has tons of low cost index funds (thats what the author in millionaire teacher advises. He shows data in their also on how index funds have outperformed actively managed throughout history.

Dave recommends the current mix of funds:
Growth and income: These funds create a stable foundation for your portfolio. Brant describes them as big, boring American companies that have been around for a long time and offer goods and services people use regardless of the economy. Look for funds with a history of stable growth that also pay dividends. You might find these listed under the large-cap or large value fund category. They may also be called blue chip, dividend income or equity income funds.

Growth: This category features medium or large U.S. companies that are still experiencing growth. Unlike growth and income funds, these are more likely to ebb and flow with the economy. For instance, you might find the latest it gadget or luxury item in your growth fund mix. Common labels for this category include mid-cap, large-cap, equity or growth funds.

Aggressive growth: Think of this category as the wild child of your portfolio. When these funds are up, they’re up. And when they’re down, they’re down. This volatile growth usually accompanies smaller companies. "So small-cap funds are going to qualify—or even a mid-cap fund that invests in small- to mid-sized companies," Brant says. But size isn’t the only consideration. Geography can also play a role. "Aggressive growth could sometimes mean large companies that are based in emerging markets," he adds.

International: International funds are great because they spread your risk beyond U.S. soil. That way your retirement fund doesn’t totally tank if America goes through an unexpected downturn. It also gives you a chance to invest in big non-U.S. companies you already know and love. You may see these referred to as foreign or overseas funds. Just don’t get them confused with world or global funds, which group U.S. and foreign stocks together.


Hope this helps. If you would like more details on how to invest I'd be glad to send you millionaire teacher free ( Was actually written by a school teacher lol. I've been in your shoes and have always enjoyed guiding people. Seriously considering turning this into something I do on the side where I can help more people achieve financial freedom.

u/NGD80 · 3 pointsr/ukpolitics
u/shaidy64 · 3 pointsr/unitedkingdom

Interesting that Jacob Rees-Mogg's father literally wrote the book on disaster capitalism.

u/the-rood-inverse · 3 pointsr/brexit

We don’t either...

But that’s because there isn’t any logic. It’s a bunch of extremists on one side followed by a bunch of ver gullible people. In the case of the latter rather than admit they were wrong they double down and move the goal posts, currently the excuse is ‘it would be good to go without for a bit’ (makes people grateful). In the case of the former they are disaster capitalism who want carnage (look at this book called ‘blood on the streets’ by Rees Moggs dad) they know they can protect their money (by moving there main source of income to Ireland In the case of Rees Mogg or by becoming a french resident like Lawson) but want our assets.

u/0MadWatch0 · 3 pointsr/unitedkingdom

Here's a book by Reee-Smog's dad to explain it for you.

u/souleh · 3 pointsr/unitedkingdom

Read his fathers books to understand a bit of what makes Rees-Mogg the younger who he is.

u/cyanocobalamin · 3 pointsr/AskMenOver30

You might want to read Get A Financial Life, for people starting off managing their finances.

There are loads of renter guides for college students ( first time renters ). Try Googling for some.

u/billFoldDog · 3 pointsr/personalfinance

Here is what is happening:

Your financial planner gets kickbacks for selling insurance policies. He wants you to have lots of money on hand so you can buy insurance policies so he can collect kickbacks.

This is why most financial planners are awful people. They take your money, say they are going to help you, then fuck you on behalf of their corporate pimps.

Drop the financial planner and figure this out yourself. You can use this personal finance subreddit, but if you need things in a book format, I recommend Get a Financial Life. This is not the last book you'll read on personal finances, but it is an excellent first book. You can finish it over the course of an afternoon or two, and it will help you understand all the basic things you need to know, from mortgages to car notes to insurance.

u/adshad · 3 pointsr/agile

There's plenty of literature that promotes the same things:

Drive by Daniel H. Pink

[Antifragile by Nassim Nicholas Taleb]

Organize for complexity by Niels Pflaeging

Reinventing organizations by Frederic Laloux

Management 3.0 by Jurgen Appelo

Agile is a paradigm, not an instruction guide, and so all of these including the one you mentioned can be incorporated. Agile is not some stubborn point-by-point fieldbook, its a general attitude.

Many of the books I mentioned never make a single reference to Agile, because its being implemented in fields completely unrelated to software engineering (nurses doing homecare for seniors, auto part manufacturing, etc..)

u/PeaceRequiresAnarchy · 3 pointsr/Anarcho_Capitalism

The author of the article has a highly-rated book, Free Range Kids.

> FREE RANGE KIDS has become a national movement, sparked by the incredible response to Lenore Skenazy's piece about allowing her 9-year-old ride the subway alone in NYC. Parent groups argued about it, bloggers, blogged, spouses became uncivil with each other, and the media jumped all over it. A lot of parents today, Skenazy says, see no difference between letting their kids walk to school and letting them walk through a firing range. Any risk is seen as too much risk. But if you try to prevent every possible danger or difficult in your child?s everyday life, that child never gets a chance to grow up. We parents have to realize that the greatest risk of all just might be trying to raise a child who never encounters choice or independence.

^ I remember reading about that story a while ago and wishing that my parents had taken a page out of her book.

I'd also make the same criticism of my school/education experience. My education was "touristified," to use a term coined by Nassim Taleb in his book Antifragile, which, in my view, prevented me from being able to learn as much as I would have been able to otherwise.

u/meats_the_parent · 3 pointsr/financialindependence

You might be interested in reading Taleb's Antifragile. It touches on models ("solutions") that are predicated upon assumptions prone to prediction error and how the models' outputs changes when the "improbable" occurs.

u/Gleanings · 3 pointsr/freemasonry

The problem with censoring "hateful talk" is that it really is just "let's censor opinions I disagree with." Hate speech laws are very subjective, and typically used by those in power to censor those who they want to keep out. ("Criticizing the King or his political allies is now hate.") Hate speech laws are censorship, and antithetical to freedom of speech.

When you are a leader, you get shit all the time, and if that triggers you or offends your delicate sensibilities, you are not cut out for leadership.

Competent, effective people are opinionated and will tell their leadership exactly what they think, because they're the most invested and the ones who want success the most. They're full of energy. They get things done. Even disagreeing with them is energizing.

What I can't stand are the belly aching whiners who never do anything and want to pull down everyone else to their same level of staid ineffectiveness. Their ideas are lame and their execution is a guaranteed failure (if they ever get around to actually doing any of their time wasting ideas). These people are energy sucking vampires. Even listening to them is draining.

If you want to be a leader of effective men, you need to become antifragile.

u/directheated · 3 pointsr/investing

The cheapest used copy is $794 :-0

Did people here snap up all the cheap copies after your post?

u/The_Gongshow · 3 pointsr/wallstreetbets

I bought a couple of these when I was just starting out.

Nowadays I keep one or two around as paper weights and used the rest just to wipe my ass.

u/JustMid · 3 pointsr/stocks

I just bought this book.

The investopedia has a bunch of information as well.

You can also simulate trading stock with fake currency but in the real market. I just set up an account with sprinklebit because some guy recommended it.

u/MillenniumCondor · 3 pointsr/Buttcoin

I would just sell it and take the ~25% loss. You could do a lot worse. If you want a sound investment strategy, read the Bogleheads investment philosophy. They recommend dollar-cost-averaging your way into a diversified portfolio of low-cost, no-load index funds. You might also check out The Bogleheads' Guide to Investing. It is a great introduction to proper investing (not speculating, which is what crypto "investors" are actually engaged in). Your local public library probably has a copy. Even at $11/hr you can save for a comfortable retirement. If you can manage to save up $1000 in your savings account, you can buy an all-in one fund and simply put a fraction of your paycheck into it every month. It's hard to get rich quick, but easy to get rich slowly.

u/peturh · 3 pointsr/AskReddit

A Random Walk Down Wall Street directly contradicts The Intelligent Investor.

I'd like to recommend another book, more advanced than The Intelligent Investor. Security Analysis.

u/18kartik · 3 pointsr/stocks

Although a challenging read, this book is extremely helpful: Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions)

u/justjacobmusic · 3 pointsr/investing

If you don't want to make a career out of trading, a helpful rule of thumb is a 90 / 10 principle popularized by Andrew Hallam in his text Millionaire Teacher: Stick 90% of your capital in tax sheltered, virtually passive forms of investment like index mutual funds or ETFs with an IRA wrapper and stick the other 10% in whatever investment vehicle you want to learn.

For example, I put 90% of my capital in a batch of index funds and ETFs predicated on John Bogle's suggestion of "your age in bonds, the rest in common stock" index funds and ETFs by way of an account with Vanguard for my IRA and my company's 403(b) program. Vanguard makes this really easy through their target retirement funds, which automatically adjust the ratio of stock / bonds over time. I'm really interested in value investing; so, I take long positions in individual stock that meets the criteria Benjamin Graham identified in Security Analysis and The Intelligent Investor with the other 10% of my capital via a brokerage account with TD Ameritrade--this isn't tax sheltered like my retirement accounts but it's basically an ongoing education in investing since TD Ameritrade offers a ton of instructional materials on topics like options, commodities, etc. and I want to see my money grow.

Let's take a look at what this could look like for your situation. Starting with $5k and doing something like what I'm doing, you would:

  1. Open an account with Vanguard or whomever else you want to deal with for your IRA and invest $4500 there. If you follow that same rule of thumb I mentioned from Bogle, you could stick 18% of that in a bond ETF like BND, i.e. $810. Of course, you'll have to purchase in units equivalent to the going rate of the ETF shares, which $83.22 at present. So, you'd have to go with 10 shares for a total of $832.20 invested. Then, you could stick the rest in a total stock market ETF like VTI, whose going rate is $103.50 at present. To invest 82% of your available $4500, or $3690, you would need to buy 35 shares for a total of $3685.50 invested. But maybe all this seems way too complex to keep track of year after year; so, you could instead just invest all $4500 in a one-stop-shop composite index fund like Vanguard's Target Retirement 2035, which currently features a ratio pretty close to what you want between bonds and stock and will automatically adjust for you over time.

  2. Open an account with pretty much any other decent brokerage, study up, and invest your remaining cash in whatever you want to learn how to do. $500 is not going to buy you much stock, but you could pull off a few options plays with that amount of cash. The key here is to provide a context where you basically force yourself to learn how to invest by having an actual stake in the game. A lot of people advocate paper trading, i.e. executing trades with fake money but real stock market numbers, as a way to learn how to invest; however, we all behave differently when our actual money is at stake. It's better to learn with actual money, even if it's not much. As I mentioned before, I personally like TD Ameritrade because they provide a lot of instructional content; however, your mileage may vary.

    Any follow up questions?
u/occupybourbonst · 3 pointsr/investing

Glad you read intelligent investor first.

Next is Ben Graham's Security Analysis

This book is really excellent and gets a lot more technical with the numbers.

u/choctawkevin · 3 pointsr/Economics

Securities Analysis by Graham is good too, also One up on Wall street by Lynch is another great one for investors.

u/begals · 3 pointsr/options

Cool, learning is good. I’m a reader, I recommend picking up a book (fairly up to date one, at least one that was written post-internet era and is still generally applicable in the way option orders work, as it’s certainly different than what a book in the 80s would have said, if there was one). Choice is up to you, search the sub for “recommend books” or something similar and you’ll see plenty of suggestions.

IF you’re a reader, I say go for a book, you’ll read when you wouldn’t be looking online. Also, a good book already sold you, you bought it, and so it pushes no agenda, and the authors is incentivized by sales to have the most informative book, especially in the current retail market where people likely put equal or greater trust in strangers’ Amazon reviews than the vestiges of how it used to be pre-amazon and yelp, ie consumer reports, industry/hobbyist magazines, and word of mouth. I don’t know who the go to for book reviews was, I’m guessing NYT always ran a book critic column, and perhaps trading mags would have reviewed some. Big, needless tangent I’m writing here, but what a change. Anyway, point being, an author should generally just be out to be helpful as good reviews will drive sales. Free books (or even worse, this “Apiary fund” which is really a ‘school’ built to sap you money. See below for a note on the subject) are.not to be trusted, the adage there’s no such thing as a free lunch is pretty much always applicable to investing. Nobody is giving away trade secrets for free.

If you are tempted by a class of some sort, ideally look for something in your town or city that does community adult education. Generally it’ll be $10-50 for this sort of thing, depending on the length. The idea being, community centers and non profits are not trying to squeeze your money, so not only is the lesson cheap, it’s centered on teaching, not selling. Many “free” classes advertised (You’ll see RE investing most commonly, though no doubt people do it for options) are really excuses to get you in a room where you feel trapped and give you the hard sell. Usually some variation of, here’s a tiny bit of info, now to get the real secrets just pay $5000 for this week course, or something similar. Avoid these like the plague, they have no wisdom to offer and just want your cash.

Similar to community adult ed, university related classes also have no hidden agenda, so if you find an options course you could audit or mmmmm or something, you could go for it. I didn’t go to business school or major in economics or anything so I don’t know if they have whole classes on options, but perhaps at least one that covers the market along with options, maybe even futures.

But time-wise, you’ll get the info quickest reading online or reading a book, and you’ll learn quickest by doing, no amount of reading will prep you or teach you as trading will. But you want at least a good background.

For books, I can only recommend from what I’ve read. I’ve read I think 4, 2 stood out:

Understanding Options Ed. 2E by Michael Sincere. It’s not a very complicated book, it’s not teaching you ICs and jade lizards, but it gets you all the basics you need to ask smart questions.

The Only Options Book You’ll Ever Need by Russell Stultz, is my favorite. It starts simple, covering everything the simpler book does, and builds on that. It’s nicely out together for progressive learning, and if you read both, the first book you could eat in a day, and by the 4th chapter or so you’ll be ready to start trading. Then keep reading, since if you go too far with zero experience it’ll not actually stick.

Or, use the help bar here and its resources, the CBOE has great online teaching resources, as does Tastytrade, and others.

Hope that helps steer you in the right direction- good luck!

u/3rdLevelRogue · 3 pointsr/actuary

I passed on the 23rd, so what exam is next? IFM? Can I skip out of order and take the short-term then the long-term? I took an MFE class using Hull's Book in 2017, but would that work for IFM?

u/saluja04 · 3 pointsr/wallstreetbets

Sure, I can try to help you out. I wouldn't call myself an expert, but I've studied them and spent time at an options market-making firm on Wall Street. My education in derivatives started at university, where I took an options and derivatives class. We used John C Hull's book, Options, Futures and Other Derivaties (link is to latest, 9th edition; you can use previous editions). Incidentally, Hull is a professor at Universary of Toronto.

While employed, we used Sheldon Natenberg's Option Volatility & Pricing: Advanced Trading Strategies and Techniques. The text is on the dry-academic side but is definitely an excellent resource.

You (and others) can also check out Khan Academy's excellent introductory videos here.

I'm not sure how I'll be able to mentor you, but I'm happy to give it shot. Let me know what I can do to help you out!

u/MasterCookSwag · 3 pointsr/investing

>“Get in the weeds” is exactly what I’m looking to do.

Read hull. That'll get ya properly in the weeds.

u/madfatter · 3 pointsr/weedstocks

no you're right. i was making a simplistic calculation on the interest.

i am familiar with options and black-scholes (i have the bible), but i just haven't fucked around with them much.

i need to read up on conv. debenture effective interest rate.

i'm assuming:
4.94/3.29 ~= 1.50, which annualized is about 22.5%, 7.1% of which is the semi-annual compounded coupon rate.

u/protox88 · 3 pointsr/finance

In that case, start with the famous Hull book. It requires basic mathematical foundation (i.e. intro calculus) and a bit of knowledge on probability.

Don't worry about PDEs, Monte Carlo, or anything for now. Try to understand the Hull book, which is less mathematically rigorous.

If you're still interested after that, then you can look into more advanced probability theory (via measure theory), martingales, stochastic calculus, and so forth - which requires more advanced calculus and understanding of mathematics (probably by 3rd or 4th year math if you're studying in university)

u/leinad_02 · 3 pointsr/RobinHood

Options college courses are part of getting an MBA in Finance.

u/IanCal · 3 pointsr/ukpolitics

I don't think active investing tends to get better returns than passive so I just invest as broadly as possible in the market. Much cheaper. I'm not picking stocks at all.


u/splodgemcroo · 3 pointsr/UKPersonalFinance

I would agree with the other posters that for an 18 year+ timescale, you should be looking at an equity based investment rather than cash. You should concentrate on minimising the fees involved in whatever product you choose - so some kind of passive index tracker is ideal.

My personal recommendation would be the Vanguard LifeStrategy funds :

You next need to decide what wrapper/platform you're going to use to invest in the fund. You could do this with a junior ISA in your childs name, but I believe this means that it will be under their control from the moment they turn 18. What I've chosen to do for my kids is invest the money I'm saving for them in my own ISA so that I can have some control over when and for what purpose the money is used for (I seem to recall I wasn't at my decision making best at 18....)

Since you say you don't have much experience with investing generally, can I recommend picking up the following book which I think gives a really good overview of how to invest cheaply and effectively :

Smarter Investing by Tim Hale

(surprised by how expensive it seems to be actually - maybe try shopping around? Really worthwhile book though I promise..) There's also a lot of good information on the web - I'd recommend the monevator blog i linked to above as a good starting point.

I have no connection to either the monevator blog or Tim Hale - but I've found them both very useful personally.

u/theberkshire · 3 pointsr/Investments

Congratulations on being wise enough with your money at such a young age to do your research and ask questions. That's exactly what you should continue doing, as it will pay off in the long run far more than any single investment you can make right now.

Along those lines I would invest a small amount of that money in some basic books about money that will help you develop a fundamental philosophy about your relationship with money and building wealth. Ebook, blogs and apps all have their benefits, but you really should have a basic financial library of physical books you can have on hand.

Your Money or Your Life:

The Simple Path to Wealth: Your road map to financial independence and a rich, free life:

The Bogleheads' Guide to Investing

The Millionaire Next Door: The Surprising Secrets of America's Wealthy

That short list is in no way complete, but will get you started.

As far as websites/blogs/free reads here's a few to consider:

It's great that you have a nice little lump sum of money to invest right now, but the key to building wealth generally won't involve lump sums every now and then and finding places to put them. The key is to discipline yourself to set aside portions of any amount money that comes in and have an automatic system to invest it and let it grow without touching it.

Have a plan for every paycheck, bonus, tax refund, inheritance, bank heist money :) you come into to have a portion funneled into your investments before you're tempted to find other, unlimited, things to do with it.

This is the greatest book probably ever written on that concept:

Having a goal, a plan for getting there, and the discipline to actually execute it will make you wealthy. Wealth gives you choices, freedom, and opportunity, and the earlier you start building it, the easier it will be to have these things. If you don't appreciate how important those are to living a good life, I guarantee you will in the years ahead.

At some point you will hear the name Warren Buffett (if you haven't already). He's the single greatest investor who's ever lived and my personal favorite. Once you have the basics down, and you might have further interest in investing I would recommend studying him. Even though there are countless books and websites devoted to him, he's already left us nearly everything you need to know about investing right there on his simple company website in the form of his annual letters--basically a free master class on investing, written by a genious who also happens to have great wit:

In a much broader sense beyond investing, there is a book more than a hundred years old that discusses getting to wealth in a very interesting and powerful way. I've used it as inspiration from a standpoint as a business person, but I think it's worth studying seriously for anyone trying to build wealth.

I believe you can still get a free copy here:

If you don't want to subscribe, just Google "The Science of Getting Rich".

And here's a good audio version as well:

No matter what philosophy and path you take, I always include another personal recommendation to set aside a small portion of your portfolio into something "alternative" that interests you and might have the potential to build or at least preserve wealth. For me it's basically precious metals, and more specifically collectible silver and gold coins. I've also collected old paper money, stamps, stock certificates, rare books, and music and movie memorabilia all to a lesser degree. Keeps things interesting, and sometimes you can do pretty well with experience and a little luck.

And best of luck to you!

*Edit: Sp+fixed links, and here's my best TLDL:

Buy physical copies of some basic wealth building books. Consider :

Your Money or Your Life:

The Simple Path to Wealth: Your road map to financial independence and a rich, free life:

The Bogleheads' Guide to Investing

Read "The Richest Man in Babylon" and follow the concept of always paying yourself first:

Warren Buffett is an investing God. If/when you're ready to learn more, just start here:

Read and/or listen to "The Science of Getting Rich":

Diversify a small portion of your wealth with physical assets you can hold and that might have a lifelong interest to you. A quick recommendation would be to start with 5% of your portfolio in precious metals, perhaps a small variety of silver bullion coins and bars. (I'd be happy to give you specific suggestions on these if wanted).

u/niko-su · 3 pointsr/eupersonalfinance

I'm pretty much at the same boat with you (same age, Berlin, cash I'm sitting on) but my mortgage is a bit cheaper (1.04% since I made 50% downpayment I guess). So with 4% Tilgung and this 5% yearly payment, it should be paid off in 10 years, however, I'm still considering If will do it or will make this cash perform better when invested.

I currently have around 12% of my cash invested in ETF, the rest sits in my Tagesgeld. I will gradually increase the investment amount, since I only started last month so I'm still kinda learning before going full speed.

I suggest you to spend some time reading about it before going this path. has tons of info but only in German. The Bogleheads' Guide to Investing is a kind of classic book, a bit focused on US realities, but still gives a good overview of different investment instruments and personal finances.

u/SteveAM1 · 3 pointsr/personalfinance

It's actually not as complicated as you might think. Read this book and you'll be in good shape.

u/Athabascad · 3 pointsr/RobinHood

Schwab has some etfs with even lower ratios but since the assets under management (AUM) of these ETFS is significantly lower on them I use the above. If you care to check though the equivalents of the above would be:

SCHX - US Large Cap Blend - 0.03%

SCHM - US Mid Cap Blend - 0.05%

SCHA - US Small Cap Blend - 0.05%

SCHE - Foreign Emerging - 0.13%

SCHF - Foreign Developed - 0.06%

SCHZ - Total Bond Market - 0.04%

also check out

and read this

also read this

u/gabrocheleau · 3 pointsr/financialindependence

I really like this idea, and it's pretty much what I'm doing. Last year I posted something about this here on r/financialindependence and I've also exposed my lifestyle here.

Since my teenage years, my goal has been to live free. I stumbled upon FI books early on ("Boglehead's guide to investing" anyone!?) and figured hitting FI early on was possible and desirable. I majored to be an Actuary and while studying, I started creating websites and doing other freelance work on the side. These projects took off very slowly, but were enough to pay for random college expenses.

When I graduated, I took a gap year and my freelance work was enough to sustain while traveling through Southeast Asia. At that point, I was netting ~500 to 1000$ a month from 20 hours of work (per month). I loved the lifestyle of working an hour or two every other day. It just became something I did once in a while on the computer instead of (or actually, while) browsing Reddit or FB.

I realized that if I roughly doubled this income, I might be able to sustain this lifestyle permanently. Coming back home (to Canada), I invested a lot of energy expanding several streams of income (mostly freelance work) and eventually it paid off. I even had the luxury of turning down 9-to-5 high-paying actuarial jobs.

Remote work now takes roughly 5 hours of my time each week (and 95% of that can be done whenever I feel like), and it allows me to live in a very low COL area, which ironically might help me reach FI sooner than if I worked in a HCOL city as an Actuary. Although I wouldn't mind living like this for a long time, I'm on track to become financially independent at around 30 y/o (in ~5 years).

While I understand that for many, working part time is not an option, trying a lifestyle that resembles "FIRE" (lots of free time, low stress, no financial worries) can really be beneficial. I feel like many blindly aim for FIRE because they dislike work, or like the idea of not having to work, and while I can fully understand why, living for the future is a dangerous gamble. Not because "you might die before" as stereotypical consumers might claim, but because of the terrible mental habits you risk developing. I believe that people overestimate the reliability of postponing happiness for extended periods of time. While the grass is quite green without work, in itself it doesn't do much, it only makes you more of what you already are.

Happiness is largely determined by mental habits. If you are not developing great mental habits RIGHT NOW, they won't magically appear the day you retire. All around me, I see people waiting for retirement to finally travel/invest time in passions/develop skills/etc. I'm skeptical of how well this works in practice. I have the feeling that people would benefit from treating their mental habits with the same care that they show towards their bank account. Surely you don't want this path to mentally cripple you and end up like this.

Like others mention, I wouldn't really call myself "half-retired" though. It's really nothing more than a cooler lifestyle. (subjective, of course).

u/hexydes · 3 pointsr/investing

+1 to Vanguard. Another good book for OP.

u/jevonbiggums10 · 3 pointsr/math

Currency trading is a really elegant area of finance that, if you're talented, can lead to great rewards. Part of the reason for this is that currency markets trade 24/7, have almost unlimited liquidity (daily trading volume of over 4 trillion USD), and if you're in the right place, you can get access to very large leverage.

The mathematics of simple currency trading is also not all that complex. Don't get bogged down trying to learn the most complicated math! You are doing exactly the right thing by getting your hands dirty and actually trying to build strategies. If there were precise mathematics that governed how to predict the direction of an arbitrary pair wouldn't everyone do that? Think about the implications of this in terms of arbitrage (and why arbitrage makes any model that precisely predicts the future value of a currency pair impossible).

The best source for getting your feet wet in how currency trading is done, and what sorts of strategies work (i.e. carry strategies) is to read Anti Ilmanen's book. See chapter 13.

u/alifaraz21 · 3 pointsr/omise_go

oh no mate, stay away from the source as much as possible. I'd say distance yourself from the "developer high-horse" as much as possible. Lol, I made up that term but hoepfully you get what I mean.
Just start with the basics, blockchains, POW/POS consensus algorithms and then move on to the nitty gritty. I actually found a really noob-friendly guide somewhere which made everything much clearer to me.
Also, check out these books. They are for ether/bitcoin but this will give you lots of vaulable info about developing for any crypto-currency. Also afaik Omise is also using Ethereum Blockchain for now.

Proof of work at khan academy
infact view the entire series here.

u/ricksebak · 3 pointsr/financialindependence

The most common answer here will be VTSAX.

The better answer for a 21 year old will be that you should read JL Collins. This book will also recommend VTSAX, but more importantly it’ll tell you why VTSAX is a good choice, and even why investing at all is a good choice. Your library probably has it if you don’t feel like buying it, and you can knock it out in a weekend.

u/LukeSwan90 · 3 pointsr/DaveRamsey

The Simple Path to Wealth by JL Collins (book)

JL Collins - Stock Series (blog)

There’s nothing in the book that’s not in the blog. The book is just better organized since it didn’t come organically like the blog.

u/nathanaherne · 3 pointsr/smallbusiness

These are the books I recommend to start with:

All direct amazon links, no referral links.

u/GenosHK · 3 pointsr/financialindependence

> A good general rule is to pay yourself first. This means after setting aside money for whatever you have to pay each week/month (rent, phone bills, food, utilities, etc - and work out what this is going to cost each paycheque to set that aside. Eg $40 a month for phone, set aside $10 a week if your paid weekly etc) put this into your savings. Even if it's $20, do it.

Robert Kiyosaki would argue that is paying yourself last.

That being said, what you suggested is EXACTLY what my wife and I did, and it was THE turning point in our finances. We weren't making any more, and it didn't seem like we were spending less, but we had money in savings at the end of the month.

u/123poopy · 3 pointsr/Bogleheads
u/indexinvestoreu · 3 pointsr/eupersonalfinance

>Do you have any recommendation as to where I can start (e.g. reading, websites to compare, etc.)?

the usual suspects:

  • Bogleheads wiki - An invaluable free resource. I think it is easier to come here when you have specific topics you have questions about
  • Bogleheads Guide to Investing - is a good book on general personal finance topics and gives a general overview of investing topics
  • The Little Book of Common Sense Investing - will show you why low cost index funds are a good idea.
  • If you can - is a quick free PDF you can read quickly and get the core gist of what passive investing is about. Bernstein is a great writer, he has really good books to in case you are interested.

    justETF is a good resource to find ETFs. morningstar is also good.

    >Is there also some more "direct" ways of investing into stocks without picking them yourself?

    Easiest when living in Germany would be to get a depot account in a cheap broker. justETF has a comparison of some.

    You may also consider DeGiro or InteractiveBrokers.
u/HotdogCaprecious · 3 pointsr/DaveRamsey

I strongly recommend this book. Its an easy read and it has solid, evidence backed advice.

u/occio · 3 pointsr/eupersonalfinance

Okay, different beast.

You work in a niche industry and plan to invest in that. While I do believe you might have insights others have not consider the following: IT is hype based and your now profitable niche from which you draw your livelyhood goes bust.

Not only is your company in trouble, other companies that might value your know-how with good pay are in trouble as well ant it's hard to get a foot in the door.

Since you invested your money in the same place your earning potential is impacted as well as your net worth. This is called a concentration risk.

For me personally it would be too risky to invest my savings into something in which I am already heavily invested (with my human capital).

Another perspective: Everything public you know about the companies you want to invest in is already priced in, the stock price reflects the potential and risks adequately. Everything non-public that might move the needle is considered illegal insider information. It does not matter if your friend or your friends friend gave you that information.

I would advise reading up on the reasoning behind passive investing. There are numerous books. If you want to keep a small part of your money in company / industry stock feel free, but you should at least know the tradeoffs.

u/Logic_and_Memes · 3 pointsr/CasualConversation

Get enough sleep. Caffeine doesn't replace it. If you already have a healthy sleeping pattern, great! Sleeping helps you retain information. Here's some information to retain.

u/ryken · 3 pointsr/personalfinance
  1. Open a Vanguard account

  2. Dump everything into VFIFX

  3. (Optional) Read Boglehead's Guide to Investing and adjust investments accordingly.

  4. Transfer shares to an IRA when you are eligible. Passing up tax free growth because you don't think you'll live long is dumb, dumb, dumb.

  5. Change nothing else about your life.
u/BitFagget · 2 pointsr/investing

Invest 18.36 in this: That’s only 0.12% of your capital. Then invest some time into reading it. Then come back again.

If you want instant cash flows, certificate of deposits will pay you 450 bucks a year at present rates.

u/atoz88 · 2 pointsr/personalfinance

There are lots of good ones, and they all say the same thing - max out your retirement plans and own total market index funds at Vanguard. The Bogleheads Guide is good if you don't mind paying. Some good free ebooks, too, for example Investing In Four Hours will be free Aug 5.

u/team_xbladz · 2 pointsr/Futurology

> Got any investing advice for a college student with no real living expenses working part time?

Start here.

Since you're starting out, accumulating an emergency fund first in a savings account is likely your primary goal. Once you get down to step 4, then I would set up automatic investments into an IRA at Vanguard, with 100% of contributions into Vanguard Target Retirement 2060.

>I only ask since it's something I've wanted to learn more about for a while

If you want to learn more about WHY this is a good idea, I highly recommend reading through the Stock Series by JLCollins. He presents it in an enjoyable and not overly technical way to keep it interesting. If you prefer books, then the Bogleheads Guide to Investing is a great resource. Borrow it from the library to save some money!

My best advice as a student is to take full advantage of the career center at your college: resume review, internship opportunities, interview practice, etc. Attaining an internship in your field will give you a huge leg up on everyone else graduating with you.


u/FliesLikeABrick · 2 pointsr/therewasanattempt

there are 3-4 books that I keep at least 2 copies on-hand of, because they are informative and I like giving them to people with no expectation of giving them back.

Ok this sounds like I am talking about religious texts - they aren't. They are:

- Normal Accidents: Living with High-Risk Technologies

- The Checklist Manifesto: How to Get Things Right

- The Bogleheads' Guide to Investing

- The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)


The first two are must-reads for engineers working in any kind of system, be it computers, electronics, mechanical, or people systems (project management, etc)


The last 2 I tend to recommend to people who think that reasonable investment awareness and decisions requires a lot of specialized knowledge and attention

u/Chummage · 2 pointsr/FinancialPlanning

I've read about half of these. Pretty dry reading. I would recommend the following:

The Wealthy Barber

I Will Teach You to be Rich

Bogleheads' Guide to Investing

All About Asset Allocation

The basic point of all of the books above and in the article is that you aren't going to beat the pros in investing, in fact the pros can't even keep up the same record from year to year. Index funds are the way to go. Other books above go over what the asset allocation looks like and also goes over insurance and other things to make your finances sound.

As an aside, I never could stick with a budget until using the software YNAB and now that I'm doing a monthly budget I am seeing massive benefits.

u/jevans102 · 2 pointsr/personalfinance

Newer version of the same book. Difference in price is only a few dollars.

Thanks for sharing OP. I bought a highly recommended introduction to the stock market book. It's been enlightening, but it's too in-depth for me to get as much out as needed. I just ordered your recommendation. I'm looking forward to reading it!

u/morebass · 2 pointsr/investing

Bogleheads guide to investing. It assumes you have no knowledge of it and at least around where I am it's highly recommended to get started with.

u/IvyRaider · 2 pointsr/CFB

Here you go. This, and Total Money Makeover changed my life (just don't listen to Ramsey's advice on mutual funds and stick with indexing per Bogle). Also, use YNAB to budget every cent that you come across.


  • save $1000 cash

  • snowball your debts

  • go back and save up to 6 months of bills (some suggest 12 months in this economy)

  • max your retirement. /r/personalfinance suggests the following

    a. contribute to your 401k up until company match

    b. contribute to your Roth until max

    c. go back to your 401k until you hit the limit

    d. now you can play with individual stocks

  • pay cash for everything. If you can't afford it, save.
u/econ_learner · 2 pointsr/Economics
  1. Academic finance and academic economics are joined at the hip. PhD students in Economics programs get jobs as Finance professors, and Finance professors will publish in Economics journals. Finance research uses the tools of economics, both theoretical (optimizing agents, equilibrium) and empirical (econometrics).

  2. Finance research and finance industry is less connected. PhDs in Economics tend to go into economist positions in banks, or analyst positions on the buy side. Their perspectives are very different from the traders who are making markets or executing orders for customers.

  3. Do you want a practical introduction, or do you want an introduction into how economists study those topics? If the former, try /r/investing or /r/finance. I hear good things about Expected Returns.

  4. For behavioral finance, some old-ish classics are Shiller's Market Volatility and Shleifer's Inefficient Markets. A more recent text might be Pedersen's Efficiently Inefficient.
u/sirbragsalot · 2 pointsr/Accounting


EDIT: Finish this in two days. I dare you.

u/rjm101 · 2 pointsr/investing

This sub is full of skeptics that don't have any foresight to think ahead. They are like people in the 90's looking at the web with all its crazy marquees and gifs on websites saying this is a waste of time because their encyclopedias do a better job. If you actually want to learn about it. Pick up a book and use the actual technology.

u/robson26 · 2 pointsr/ethereum

Mastering Ethereum: Building Smart Contracts and Dapps

Not out yet but figured I'd let you know.

u/zora · 2 pointsr/ethfinance

don't forget about the $2,500,000(12,500ETH) in burned ETH here too!

etherscan has it listed as the ENS burn address but I read in Mastering Ethereum that it was the default burn address.

u/Stackfault67 · 2 pointsr/investing

For an easy way to get started, I suggest you begin with one or two mutual funds, preferably index funds.

Bogel's Little Book of Common Sense Investing is short read and a great introduction to investing with index funds.

Collins The Simple Path to Wealth is another great read for someone getting started in investing. It's based on the Stock Series posts from his blog.

u/avar · 2 pointsr/eupersonalfinance

You need to realize that you have 3 very different problems:

  1. Filing taxes on your investments, I don't know how you're filing your taxes now but you may need someone with more expertise in US / Austrian filings once you start investing.

  2. Find an investment platform that's willing to work with you, a lot in Europe aren't willing to do so due to FACTA, but maybe you're willing to open an account in the US.

  3. Actually deciding how to invest. I suggest starting to read something like and going with index funds instead of throwing money at a broker.
u/ScroogeJones · 2 pointsr/StockMarket

Are you newer to investing? Not judging, just offering tools to become more knowledgeable!

If you are check out the following:

The Intelligent Investor: this is a classic book on investing, a must read -

The Simple Path to Wealth: NOT A GET RICH QUICK SCHEME. might not be everyone's cup of tea, but a great quick read. Good for retirement and more of a passive investment -

u/TreesButterPanny · 2 pointsr/M1Finance

I am reading Get Rich With Dividends,, and I have also created a dividend pie with the intent of reinvesting dividends for 5-10 years then using the account for passive income in retirement. It is also my fun account, as I have a maxed out 401K and IRAs managed by a financial advisor. Also reading Simple Path to Wealth, who agrees with every other Redditor that I can't beat the market, but my intent isn't to beat the market, its to beat my financial advisor.

u/bkprettygirl · 2 pointsr/personalfinance

Do you have your local library app? Many libraries have it for free... mine didn’t so I bought it but lots of people in my online group got it from the library

u/2wheeloffroad · 2 pointsr/personalfinance

1/2 in Vanguard S&P 500 and the rest in an equivalent fund focused on international companies. Diversity among the largest companies around the world. Vanguard funds have very lost fees so more of your money keeps working for you.

I have been reading this book. I think you would identify with it and like it. I don't necessarily follow all his advice, but a good principle.

The Simple Path to Wealth: Your road map to financial independence and a rich, free life

u/voobaha · 2 pointsr/personalfinance

Jim Collins just published a book called The Simple Path to Wealth, based on his excellent series of blog posts. It's an easy read and I highly recommend that you check it out.

But until you have a good understanding of how investing works, don't worry too much about it. Put your savings in an online savings account like Ally so you can at least earn some interest. Keep saving, do some reading about investing, and you'll eventually know what to do with your money. You're already ahead of the game just by virtue of thinking about this stuff.

u/geekyearthmomma · 2 pointsr/homeschool

We read [This] ( in school.

But in my opinion the best way is to make them pay the bills. Take them shopping and let them buy their own groceries for a week and then analyze what they could have done to cut cost or have a more balanced diet. Show them your expenses then have them get a job, rent an apartment and pay the bills (on paper). We did a project like this in college where you ran a company and every week you made choices like which insurance policy to get then next week your truck would break down, a competitor moves in, then your storage facility burns to the ground. (you could get more in depth like if they take out a credit card then don't pay on it bam drops their credit and they cant get the loan on the minivan when baby number four comes along.)

u/tedted8888 · 2 pointsr/politics

> Now if we just say 'tough, your kid your problem' then we're going to have tons of kids growing up in even worse poverty, which are even more likely to become burdens on the system.

Steven levitt in freakonomics argues that the drop in crime rate from the 70's to the 90's was largely in cause of abortion. High crime happens in poverty stricken downtown neighbor hoods where kids are brought up in single family households. He argues because the women have the option to abort the child, that child is not brought into the world and further continues a life of crime. So since no child is born, crime goes down. If we outlawed abortion, yes we would have lots of children running around in adult bodies burdening society, but since we have abortion, theres no child to grow up in destitute environments. (the conservative argument is foster care should take care of these unwanted children, but I would argue there is not enough foster parents capable of taking on these unwanted children, and also it sounds nice to use the state to support foster parents, but there are unintended consequences from subsiding anything, even nice well intention things like foster parents.). I'm willing to compromise and let single mothers have child support from the state for one child, but any further, "your kid your problem". Agian, I think private charity or womens society's should be responsible for supporting the single mom and kid, not the gov't.

This is the crux of our disagreement. We both want to get poverty down to 3-7%, and have nearly 90% of 30-60 year olds in the middle class. I see 70 years of welfare leading to multiple generations stuck in welfare traps. Clearly the results are that gov't welfare does not accomplish its intended goal of bringing people out of poverty. If it hasn't worked in 70 years, I dont see how its going to work in the next 5, 10, 20 years. I'm not a historian, and I may be doing a very shallow analysis, but something was working from 1940 to 1960 to reduce poverty. And since welfare, medicare and medicare didn't happen until the 1960s, one cannot blame these programs for decreasing poverty.

Poverty is a mindset. Did you know that most lottery winners go bankrupt? link. They go bankrupt because they have a poor persons menality. They get $5MM in the lottery, go buy a dream house, their friends cars, pay off their friends debt, travel the world, go on a giant spending spree. They end up 10-20MM in debt and cannot pay off their debt. It doesn't matter if you give them 5MM or 50K. The spend 2-4x the money they receive, and go bankrupt from the debt they incur. Rich people on the other hand, put 10-20% of their money in savings, no matter how little they earn. Rich people only spend 50-70% of the money they earn, and only go into debt for things that appericate in value, like a home, or something they need, like a car. For more on this read "rich dad poor dad" link

I"ll have to get to the rest later. Time for bed

u/ErsatzFabel · 2 pointsr/USMC

Its sounds like both of you ought to bear down on this knowledge:

u/anon35202 · 2 pointsr/TheRedPill

Having two fathers and two mothers competing over your love can be the best thing ever. One teaches you the shrewdness and cut-throat world of winning deathmatches and earning respect through force, the other teaches you the socially optimal solution, how to be poor and find pleasure and joy with a mat and a guitar.

Story reminds me of the writer from Rich dad poor dad:

u/great_apple · 2 pointsr/StockMarket

But you're most likely better off with growth stocks than reinvesting dividends. High-dividend stocks, in general, are established companies with steady earnings. Their stock prices don't move all that much, or at least don't match/beat the market. Of course there are exceptions, but for the most part you're choosing between huge growth potential and huge dividends. Imagine if you'd bought Google (no dividend) 5 years ago versus AT&T (huge dividend). You'd be way better off with Google, regardless of reinvesting that almost 6% dividend.

You really, really should look at index funds/ETFs. You'll get a nice mix of high-dividend stocks and stocks with high growth potential.

Think about it this way: You're young and just starting. This is the best time to be making good investment decisions, because right now is when your money has the most time to grow. If you make dumb decisions now then get smart when you're 35, you've lost 10 years of time. So you want to make the best possible decision now. Don't let youthful confidence make you think you know better than the tried-and-true advise. If investing in high-dividend stocks when you were young was the smartest strategy, that would be the tried-and-true advice... but it isn't. A three-fund portfolio of indexes is.

You're clearly doing the right thing starting young and seeking out advice. I'd suggest spending $15 and a day of time reading Bogelhead's Guide to Investing. It covers all the basics about what to look for, and explains why a three-fund portfolio is smart... so you can know for yourself instead of taking random internet advice. Pretty small investment of time/money to set yourself out on the right foot when it matters the most.

u/huppie · 2 pointsr/financialindependence

I honestly don't know much about insurance in the US, but term life insurance is almost always the way to go. I'd recommend searching /r/PersonalFinance for the name of the company to see if anything pops up.

As for the last part... that's why I recommend reading a simple book on investing. I'm assuming a modest cash buffer of about 6x your monthly expenses and then investing the rest.

Most people here will recommend investing in cheap, broad index funds, usually by instances like Vanguard. Popular funds as far as I know are VTSAX for stocks and BND for bonds.

Just to reiterate: Just pick up The Bogleheads Guide to Investing. Your future self will thank you.

u/Rinx · 2 pointsr/suggestmeabook

The bogleheads guide to investing is the most science based, matter of fact primer I've found on personal finance. Can be dry at times, feel free to skip the extensive chapter on tax law. I really feel it's a book everyone should read.

u/smadab · 2 pointsr/investing

There's lots of useful information at The Boglehead's Website, especially The Getting Started Guide.

I've also found the following books incredibly helpful as well:

  1. The Four Pillars of Investing

  2. The Boglehead's Guide to Investing
u/morridin19 · 2 pointsr/PersonalFinanceCanada

Depending on what you are looking to do I would recommend reading Millionaire Teacher, and then The Value of Simple.

Those two combined with reading some stuff at the Canadian Couch Potato Blog was enough to get me from 0-to investing.

u/B-A-H · 2 pointsr/PersonalFinanceCanada

Start by reading these,

Then pick up a copy of this book.

Dont feel like you need to manage your own funds...this is a personal choice that a lot of people here like to do (you can make your expenses 0.17-0.2%). If you are not comfortable managing your own funds, there is nothing wrong with sticking with Tangerine's Indexed mutual fund (1.07%).

On a portfolio of 30k, tangerine would charge $321/year. If you took on DIY investing in ETFs, you could get this cost down to $60 per year + trading commissions. There is nothing wrong with paying a bit extra to keep things simple.

The Canadian Couch Potato blog puts some guidelines on how much you should have invested before switching to ETFs, but this info is outdated. Questrade (a discount brokerage) came to Canada since 2014 (I believe). With questrade you dont have to pay any fees to purchase ETFs, you can start low cost ETFs with a portfolio as small as $1000. ETFs are the cheapest form of indexed investing

Some other terms you might want to understand:

Dollar cost averaging

Investment re balancing

u/CPCPub · 2 pointsr/AusFinance

Growth is good, but you can do better by getting directly into the underlying funds themself. However, if you just choose 'growth' option, you'll be doing a lot better then most people who just ignore super completely and waste away a lot of potential earninigs.

It would be easy for me to say to you "just invest in X Y & Z", but the problem is that it would be much better for you, if you took the time to understand why I would be telling you that in the first place. Learning about investments properly and having a competent understanding will change & improve your life a great deal and will give you a big edge over other people your own age.

I highly recommend that you find & read this book:-

I recommend this book specifically because I have found it is very easy to read and not intimidating for anyone from a non-financial background. I used to give this book to staff members who worked for me in a previous job where I had a lot of 18-25 year old staff members reporting to me, and they all said they wish information like this had been taught in high school.

There are other books you could read of course, but I have found this one is the best for people who are "newbies" to dealing with finance, wealth & investments.

Of course, I'm happy to answer any other questions you might have.

u/legrandcourt · 2 pointsr/PersonalFinanceCanada

Depends, but basically you should try to balance through contributions rather than sales. If the TFSA is your only account:

  • if it's already full, balance with your contribution next January (the proportion of each fund you buy will bring it back in balance);

  • if it's not full, you can balance with each contribution by focusing on the underperforming assets at the time of your contributions.

    It's not crucial that you stay in balance all the time, especially if you're doing automatic contributions. One of the selling points of the couch potato is that it's easy and you only need to spend a few minutes, once per year, to bring it back into balance.

    More details found down this rabbit hole. (Also, read Millionaire Teacher if you haven't already.)
u/rocketman19 · 2 pointsr/PersonalFinanceCanada

I only bought them in December, but all of them track only one index (except the bond one), so it would be rather simple to calculate.

I'm guessing they are e-series versions of their regular mutual funds, I would stick with the indexes - lower MER and minimum investment.

Here's a great link:

Global Couch Potato option 2 is basically what I have with a lower bond allocation (I hold ETFs/Stocks in a BMO account).

This was also a really good read:

u/carnifex2005 · 2 pointsr/PersonalFinanceCanada

Since you're just starting out, highly recommend you read Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School.

u/MrVercetti · 2 pointsr/personalfinance

Millionaire Teacher is the book I wished that I had read before I started investing and that I like to recommend to beginning investors.

The Little Book of Common Sense Investing is the book that opened my eyes and set me on the right path.

u/rhunter99 · 2 pointsr/PersonalFinanceCanada

Read some books like millionaire teacher. It's easy to read and it will give you a good place to start

u/maverick_235 · 2 pointsr/CanadianInvestor

Read the The Millionaire Teacher, it’s all you really need to know.

Check out Canadian Couch Potato

Check out Bogleheads forums to learn more.

Simplicity is best.

u/CJOttawa · 2 pointsr/PersonalFinanceCanada

Read this book first: "Millionaire Teacher." Seriously, run, don't walk, to the nearest Chapters and buy it. GO. NOW. Before the internet hoards descend on you! ;)

Next book: "The Wealthy Barber Returns." (skip the first "Wealthy Barber" book which, having been written in the 1980s, the author admits is out of date)

Those books will give you the "what" and "why." The Canadian Couch Potato website will give you the "how."

u/hanksredditname · 2 pointsr/AskReddit

Finally - some decent investing information on reddit. For anyone who is looking for more info, I recommend you check out Millionaire Teacher - its a simple investing book for low-mid income earners and its written so anyone can understand it.

u/philocrash · 2 pointsr/financialindependence

Congrats on cleaning out that debt! I know the great feeling I had when we finished off my wife's student loans, you really can't beat it.

Just putting in my two cents here. The book "The Millionaire Teacher" has a great section on things to watch out for in Financial Advisers (link). They also list typical things Financial Advisers will say and how to respond to them. Great ammo for any meeting with one.

That being said, if you are confident in your principles of investing (indexing, expense ratios, stocks/bonds mix) AND you understand HOW the Edward Jones guy is being compensated, then you may consider the meeting.

Even with all that, I wouldn't allocate any significant portion of my stash with anybody from Edward Jones.

Personally I like to meet with people like this. I like to bust their balls and see how well they know investments, early retirement, tax law, picking stocks, what their personal investments look like, insurance (for early retirees), education level, trading experience, net worth, etc. It's like being a black belt in personal finance and checking out a rival school to see what they have to offer (or not offer).

u/mule_roany_mare · 2 pointsr/BuyItForLife

by far
Everything you need to know could fit on an index card, but this book really breaks everything down. You'll be amazed at how simple it is once you understand.

As an example of debt being good, I bought an apartment in a building which was so distressed (and helped turn it around since) that banks wouldn't give a loan. I had to raid my retirement & buy in cash.

So instead of paying 50k upfront & a 100k loan at 2%, I paid 150k upfront.

Had I taken a mortgage I would have paid $2,000 for the privilege of borrowing 100k, but I would have also been able to leave the 100k invested and made $6,000, for a net profit of $4,000.

Debt is a tool, it lets you take opportunities you wouldn't be able to otherwise. If you wait until you can afford something you lose out on it's benefit the whole time you are saving, and if it means you have to instead rent in the meantime you not only lose the benefit, but pay a premium for the privilege.

Inflation reduces the value of a dollar by 2% every year. So 100$ worth of stuff today will cost you 102$ next year. If you are saving you are also chasing a moving target.

Having debt (and paying it off) also proves that you are trustworthy & banks can give you a good rate at 3% instead of 9% when they worry you won't pay it back.

Debt is a tool, and if you use it to buy things which make you money it's a good bet. If you use it to buy things which cost you money/lose value it's a bad bet.

Since I own my apartment now I could take a loan against it (and probably should set it all up now). If I can get a loan at 3.5% I could then invest that money & get 7%, net 3.5%. Of course there is risk involved in this, but over a long enough period you might as well bet on the economy since if it crashes & never comes back you have bigger problems anyway.

If you live in NYC I can lend you my copy of the book. I've bought it for a half dozen young people I care about as it was really illuminating for me & answered soooooo many questions I didn't understand well enough to ask. Everyone I know has a lot of anxiety around their finances, but this will show you how to think about money & what is worth the effort/what isn't worth worrying about.

u/johnsmithindustries · 2 pointsr/personalfinance

I'm finishing up school as well, and have recently gotten into personal finance. I read blogs like The Simple Dollar and Get Rich Slowly on a daily basis. They have large, search-able archives and are full of free information and tools that relate to personal finance. Wonderful resources.

If you're looking for good books to read I'd like to recommend The Millionaire Next Door. By far my favorite, this book completely changed my thinking about personal finance.

Some others:

The Only Investment Guide You'll Ever Need

The Boglehead's Guide to Investing

The Automatic Millionaire

See if your library has any! Oh, and here's a longer list from GRS:
Building a Personal Finance Library: 25 of the Best Books About Money

u/bucket_of_frogs · 2 pointsr/worldnews

Not for the disaster capitalists pushing for it. The father of Arch-Brexiteer, Jacob Rees-Mogg wrote a much-studied book on how to capitalise on the misfortune of others. Much of their families’ wealth was made by profiteering/preying on the vulnerable.

Blood in the Streets: Investment Profits in a World Gone Mad

u/nyaaaa · 2 pointsr/worldnews
u/Sephirdorf · 2 pointsr/unitedkingdom

This is it. Written by Jacob's dad, it goes on about how to profit from a destroyed economy.

Blood in the Streets: Investment Profits in a World Gone Mad

u/helpnxt · 2 pointsr/HighQualityGifs

So Jacob Rees Mogg's farther wrote "Blood in the Streets: Investment Profits in a World Gone Mad"

And here is Farage beaming at the pound drop, sorry he wasn't doing thumbs up my mistake

Added point is here is a video from bloomberg explaining how dodgy Farage and Brexit election is

The problem is it is very hard to cut through the 20+ years of anti EU propaganda the shit rags like the Mail and Sun have been pushing hard with, here's that list

u/wijwijwij · 2 pointsr/personalfinance

Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner

u/milkywaymasta · 2 pointsr/Anarcho_Capitalism

Fucking charlatans. For more: Antifragile

u/TooFewForTwo · 2 pointsr/changemyview

There are a few things to unpack, here.

>CMV: Holding opinions so dearly that you consider them part of your identity is fundamental damaging to pubic discourse and conversation.

I think it is only damaging to public discourse if you let it be. It's damaging when you believe you are being assaulted and refuse to listen or debate calmly and rationally.

>Changing opinions is usually seen as a sign of weakness or incompetence, and most people are subconsciously terrified of being wrong.

I think there is a happy medium. If you're stubborn in the face of truth and facts, then you're also showing fragility.

>With that being said, I believe that the reason why the split between the political community is so much larger than before isn’t solely because if echo chambers, but the unneeded ego-centric reinforcement of opinions that convince the holder that any attack of their ideas translates to an attack on them.

Bingo. Check out The Coddling of the American Mind. It's a highly impactful article which saw the trend you mentioned years before it spread. There is also a book with the same title. I found out about it on the Joe Rogan podcast.

There are 3 implicit harmful rules:

  1. What doesn't kill you makes you weaker
  2. Always trust your feelings (emotional reasoning)
  3. There are good and bad people... we must crush the bad people (us vs them)

    This style of thinking is at odds with cognitive behavior therapy. It causes distress and depression. If you want to be antifragile then you must expose yourself to different viewpoints. Your mind works similarly to an immune system: If you limit exposure to minor stressors, you will only be more distressed when you encounter something in the future.

    I disagree that it is wrong to hold an opinion so deeply you consider it part of your identity. We are all a culmination of our experiences and beliefs. Some of those beliefs have a stronger impact than others and define us more. I think it is okay to have a belief define you but you should be willing to slow down and listen to an opposing viewpoint.
u/SophistSophisticated · 2 pointsr/europe

>Speech is a physical, tangible thing that can and does do damage to people's mental health when misused.

Lots of things could potentially damage people's mental health. Strong criticism could potentially harm my mental health. Insults (they don't have to based on race, ethnicity, religion, sexual orientation, or gender) could harm my mental health. Honest criticisms could harm me mentally. Expressions of hatred based on my political leanings could harm me mentally. Honest criticism has the potential to harm me mentally.

What are you going to do about them? Ban people from insulting one another and using strong language? Are you going to stop people from calling Tories evil scum because that could mentally harm someone who is a conservative ? Are you going to stop people from celebrating the punching of Nazis because neo-Nazis might me harmed by the celebration of violence against them? Are you going to stop people from calling Brexiteers stupid and idiots because that has the potential to harm them mentally? Yes, speech does have the potential to affect someone mentally. The problem is that the mental harm is so subjective that everything is potentially harmful mentally to someone. What another person might brush off easily might make a fragile person hurt. The subjectivity of experience of speech is one of the reason why you just can't go around forming objective policies around this issue.

Another thing is that we human beings are anti-fragile. Our bones get stronger the more they are used. Our muscles build when we tear them through exercise. Our immune system gets stronger when they encounter viruses and bacteria. A great book to read is Anti-fragile by Nassim Taleb who goes into this whole question and shows that a lot of what people believe about human fragility is counter productive. The more you shield others from things you think might hurt them emotionally and mentally, the more mentally fragile they are going to become. There is a perfect analogy with allergies and fragility. The more sanitized the environment, the greater the risk for that becomes.

I also take objection to your characterization of speech.

Speech =/= action. One of the thought experiments I think about around these issues is regarding somebody who sincerely holds a belief that the Holocaust didn't happen.

Now no country has banned thinking such things because they couldn't. However, most of continental Europe has decided to ban expression of such opinions. Now suppose a hypothetical case where this person who sincerely believes that the Holocaust didn't happen is asked a question about it in public. Based on the laws of Continental Europe, that person has to lie in public. The person can't sincerely tell the world that he doesn't believe in the Holocaust because that would mean jail. So we have government requiring/forcing people to lie.

I consider this just an egregious violation of a person's freedom of conscience, and while it is just a hypothetical, it does have bearings on what actually happens, because a lot of people who sincerely don't believe the Holocaust happened do have to lie at the threat of being imprisoned.

You cannot separate the freedom of thought/opinion/feeling and the freedom to express those thoughts/opinions/feelings as you have done. They are inextricably linked.

Speech is not the same thing as an act. A politician can say that he is going to do something. That politician's speech is not the same thing as an act, as most people participating in democratic societies quickly realize.

u/Skrioman · 2 pointsr/getdisciplined

Stephen Covey's The 7 Habits of Highly Effective People contains a bunch of principles that I really internalized and still rely on, almost a decade after reading it.

Nassim Nicholas Talib's Antifragile changed my outlook on life and got me thinking about viable long-term strategies.

John Medina's Brain Rules is especially useful if you're in school, studying, or in some line of creative or intellectual work. I've applied its principles to my presentations, teaching, and personal studies, and I'm really happy with the results.

Happy reading!

u/tekvx · 2 pointsr/argentina

Jo-der. No se si sos un economista, un biologo, o un sabelotodo -- pero la gente como vos es peligrosa... Agarras el narrativo ideal y lo justificas atacando la cruda realidad (y sin fundamento). Espero que seas un interlocutor valido o que por lo menos, vos tambien, tengas autores a quienes haces referencia.

Aca van los mios:

  • Capitalismo como propiedad intrinseca de la poblacion humana:

    "The Delphic Boat: What Genomes Tell us" by: Antoine Danchin (un groso..... en serio.)

    "The Free Market Existentialist" by: William Irwin (phD philosophy).

    "Antifragile" by: Nassim Taleb (este tipo es una eminencia, lee su CV

    Ademas, tal vez te interese este video informativo (porque no tenes ganas de leer tanto) acerca de la historia del capitalismo... son 11 mins. y bastante claro.

  • El gen como unidad basica

    "The Selfish Gene" by Richard Dawkins. (si no leiste esto todavia, te lo recomiendo!!!! mucho!!!!! pero me parece raro que seas biologo y no entiendas a lo que me refiero con decir que el gen es la unidad basica)

  • Matematica para entender la economia desde los grados de libertad que se presentan en el movimiento Browniano (Stoic Calculus)

    Ito Calculus es un buen lugar para comenzar.

    Este video course de MIT acerca de finanzas es basicamente TODO la matematica que necesitas para entender finanzas o macroeconomia moderna.

    Este video course de MIT es mas orientado a la economia y el rol de la politica en el desarrollo economico.

    Cualquier duda NO QUEDO a disposicion por consultas, pero espero que contribuyas algo de tu parte.... para enriquecer la discusion

    Y a los downvoters: You're all dirty slags.

    EDIT - agregue un video
u/prometheangambit · 2 pointsr/PurplePillDebate

Nice. Great post. I couldn't agree more. So I'll just help (circlejerk?).

The intuitive, irrational, and crazy part of my personality I only just started developing as I realized I mistyped myself as an INTJ for over 20 years (unhealthy INFJ for that long). The book Antifragile by Nassim Taleb points out the valuable Dionysian part of our nature and just how fragile these social-economic models are in the face of time.

When BP asks "Fine. RP works, but will that make you happy in the long-term?" the jaded RP reply is "Probably not, but what choice is there for men like me?" Others live and die by the Redpill, but can anyone really believe Chateau Heartiste is a happy, healthy, secure individual? No extreme personality and total rejection of the Other emerges from a healthy psyche. You can't take a man who naturally values long-term mating into a short-term mating box and not expect -- nevermind. You already get it.

u/StampCollect0r · 2 pointsr/business

Skin in the game. Read Antifragile by Nassim Nicholas Taleb.

u/FKYS · 2 pointsr/finance

Yes OP, this is an answer you are looking for. Read about value investing, another good book to read is Seth Klarman's The Margin of Safety. And if you don't know who Seth Klarman is you have to look it up.

u/BarkWoof · 2 pointsr/personalfinance

>I know I want to be a Doctor.

OK, so take not going to med school off the table.

>I finally got into a medical school after working at getting in for the past 4 years... should I re-apply and hope to get into a cheaper school?

IMO, hell no. Getting in, as you know, is very difficult. The risk of gambling to get in again later at a cheaper school (if you've already decided you absolutely will go to med school) is not worth it.

In response to others who say you should get a military scholarship to pay for school, I'd say that is not a decision to make from a financial standpoint. You join the military to serve your country, not for financial reasons. If you don't believe me, read The White Coat Investor. According to the author's math, he would have made more money in the long term by paying for his own schooling and taking a higher paying job (military docs don't make as much as civilians, at least not for several years).

$70k/year for tuition alone is expensive, no doubt about it. You should really take the debt you're incurring into account when you decide which specialty to pursue (i.e. stay the hell away from peds and family practice). But hell, you've discovered /r/personalfinance before even starting the journey. I would kill to have discovered this place at the same place in my life.

Source: Emergency Medicine attending (1 year post-residency). Around $360k in student loans at the moment.

u/WallStreetPhysician · 2 pointsr/personalfinance
u/CuriousPanda21 · 2 pointsr/personalfinance
u/davomyster · 2 pointsr/investing

Oh hells yeah I do! I give this book to everybody because it's shockingly simple, easy to understand, makes no assumptions about pre-existing subject knowledge, is written clearly and consicely, and its format follows a logical progression that makes it accessible and the best recommendation for a high schooler or a school superintendent with a Harvard PhD, two people I've gifted this book and who both loved it and changed the way they handled their finances.

It's called The Bogleheads' Guide to Investing

I provided an Amazon link, where you can get it for around $15. I can't speak highly enough about this book. If most of your financial knowledge comes from what you've been reading that stock blog you mentioned, this book will change your life. Without any hyperbole, it most definitely changed mine.

u/slyde56 · 2 pointsr/personalfinance

I'm not the guy I believe you're replying to, but I think that /u/nullstring means that once you have a job with a 401k, you'll need to reevaluate which (Roth or 401k) you'll max out first.

This book comes highly recommended here and elsewhere if you're interested in learning more. (second edition here

Feel free to pm me if you want.

edit: added second edition

u/LevelOneTroll · 2 pointsr/personalfinance

Try to contribute at least as much that is matched by your company into the 401k. Then, if you have extra money left over, put what you can into a Roth IRA. If you find that you can max it out each year ($5500), then increase your contributions to the 401k until the total percentage you're investing is 15% of your annual income.

Stay away from individual stocks. Read The Boglehead's Guide to Investing.

u/dasbif · 2 pointsr/personalfinance

I recommend you read the book The Bogleheads' Guide to Investing before getting started.

Here's an Amazon link, or you can get it at your local library, etc -

u/lebski88 · 2 pointsr/AskUK

> Just put whatever money into the FTSE 250 tracker ISA with the lowest fees you can find. A lot of High Street Banks will offer these.

Tracking just the FTSE 250 is a bit risky to be honest. It's way to exposed to the UK which is definitely putting all your eggs in one basket. Particularly if you live here, get paid in pounds, are invested in our property market etc. You want something that's a bit closer to representing the world market. As someone else said Vanguard Lifestrategy 60 or 80 would be good.

My main recommendation would be to read this:

u/emorrp1 · 2 pointsr/UKPersonalFinance

Just to help you with your research as your actual question has been answered, what you're describing is called "Financial Independence", often combined with "Early Retirement" if your income grows significantly.

The relevant subs are /r/financialindependence/ (US and high-earners heavy) and /r/FIREUK/ (which has links to UK-based blogs like If you haven't already, you'll be recommended to read this from our wiki:

> Smarter Investing - Tim Hale
> The ultimate counterpoint to attempting to "beat the markets" - after spending 15 years working in active fund manager, Tim Hale concluded that the best outcomes for most investors in most situations would be a simple portfolio of "passive" investments (that is, funds which attempt to track a market, rather than outperform it). This style is favoured by the likes of Monevator, and many of the subscribers here.

u/LOLROFLHAHALMAO · 2 pointsr/UKPersonalFinance

I would recommend Tim Hale’s Smarter Investing ( so that you can get an idea of what asset allocation is most appropriate to your needs and what you would like your investment to do for you. I know everyone preaches to read that book but, honestly, it is the best £20 you will ever spend.

As mentioned above, past performance means absolutely nothing when looking at what may happen in the future.

u/ness36 · 2 pointsr/dogecoin

I would like to recommend as fitting nicely with the 1 doge = 1 doge philosophy of "enthusiastic indifference" the following two references for those interested in economics and currency markets:

Evidence for the fact that the stock market is efficient so to try to beat or time the market is basically impossible:
A Random Walk Down Wall Street

Very helpful community for beginning investors:
Bogleheads Guide for Beginner Investors


u/Frux7 · 2 pointsr/TumblrInAction

Just read the book: A Random Walk Down Wall Street. It basically explains the best way for non-rich people to benefit the most from the stock market.

u/cstoner · 2 pointsr/investing
u/haoest · 2 pointsr/investing

You are young, do yourself a big favor and learn to invest on your own. It's easier than you think. The earlier you learn it the sooner it will serve you for the rest of your life.

Here's a great starter (a random walk down wall street):

Best $15 you will ever spend.

u/stankind · 2 pointsr/investing

Interest rates have been mostly dropping over the last 30 years, for whatever reason. That means the "risk free" rate of return has been dropping, to near 0. Which means the return on newly-bought competing investments should also drop very low. Which means stock prices paid by newcomers should rise very high. Which is what's happened.

Now, if interest rates were to rise dramatically, I think we'd have a crash, like we did in October 1987. The old classic book, A Random Walk Down Wallstreet explains my reasoning, using 1987 as an example.

u/EngineerinLA · 2 pointsr/AskMen

A Random Walk Down Wall Street. This book should be required reading in high school. It's super simple, doesn't overly complicate investing, and is the one thing people just don't talk about enough. We should all have a certain amount of financial literacy.

u/scriberius · 2 pointsr/IWantToLearn

maybe give "a random walk down wallstreet" a read. It's written in a way that you can fairly understand it without a background in econ.

u/jessezany · 2 pointsr/perth

Yeah completely understandable, it's not too complicated, but from an outsiders perspective can look daunting. I can't really recommend any specific financial advisors, but if you have the time to do some reading I can recommend a few things that will help you out. A Random Walk down Wall Street and The Intelligent Investor are great, easy to read introductions to value investing, while this post on /r/AusFinance gives some pretty straightforward and practical advice.

While its not the advice you're looking for right now, do consider it as it may help save you thousands of dollars in the long run.

u/memeoic · 2 pointsr/Fire

I agree with the above comments, but you might additionally consider:

  • Either VOO ETF (if you’re more conservative ~10%/yr) or VGT ETF (~20%/yr). Both are diversified and just don’t panic on downturns and wait.
  • Read A Random Walk down Wall Street: The Time-tested Strategy for Successful Investing (which explains why ETFs work)
  • If you have an ESPP do that, and then sell after a year
  • Don’t buy individual stocks. They are too risky and they can really drag your long-term savings plan.
u/Toulvern · 2 pointsr/vosfinances

Alors j'allais gueuler contre le PEL mais tu l'as déjà fait.
As-tu une limites basse sur ce compte? Un virement minimum attendu? Le seul intérêt du PEL pourrais être l'accès à des taux intéressants à long terme, donc à garder si tu peux conserver le minimum d'argent dessus.
A priori pas de frais pour le fermer, j'avais fermé le mien pour des raisons similaires. Mais il faut que tu vérifies avec ta banque.

Il faut que tu sois conscient que l'AV t'expose à du risque (pas beaucoup mais quand même). Donc de mon point de vue il ne faut pas trop en mettre dessus.

Vu les sommes en jeux, ça ne sert pas à grand chose de diversifier.
Ce qu'il faut c'est maximiser l'intérêt composé.
Cad choisir le meilleur support et mettre de côté régulièrement en repérant le meilleur moment pour faire tes virements et ne pas pourrir ton rendement de la quinzaine.

Quel est le rendement de ton livret jeune? C'est probablement le plus intéressant. Tu devrais avoir 8k dessus.

Et sinon oubli la bourse en direct, c'est de la merde.
Intérêts composés, intérêts composés, intérêts composés.
Je te conseille de lire ceci (existe en français mais la version anglaise est plus à jour):

u/Pat6802 · 2 pointsr/StockMarket

In my personal opinion, Jason Kelly's book linked below was a great Stock Market 101 book, very easy to read:

I highly recommend it!

u/Poles_Apart · 2 pointsr/stocks

This is a good intro book. Watch investopedia videos as you read the definitions in the beginning. After that its a pretty easy read. He summarizes all the major investors books and strategies, highlights his, and ties them all together.

u/schnaids · 2 pointsr/stocks
u/capsule_corp86 · 2 pointsr/investing

intelligent investor is a great read, but for some more in depth stuff i like security analysis

u/moveovernow · 2 pointsr/tifu

There's one way to consistently make a lot of money investing over a long period of time. It has worked repeatedly for nearly a century, producing numerous billionaires. It's the only approach that enables someone outside of Wall Street to consistently beat the market and get rich (over many years).

The Intelligent Investor by Benjamin Graham

Security Analysis by Benjamin Graham

Margin of Safety, by Seth Klarman [pdf of book, out of print]

Buffett: The Making of an American Capitalist by Roger Lowenstein

Common Stocks and Uncommon Profits by Phil Fisher

u/FelipeKbcao · 2 pointsr/brasil

Ações mesmo. Mas sem participar de fundos coletivos, e comprando empresas boas, sub cotadas em bear markets e sair fora delas quando der bull, quando todo mundo quer comprar. É menos difícil pro investidor individual fazer isso do que os grandes fundos, pois os pequenos podem se posicionar (e tbm sair fora) com mais agilidade. À medida que o patrimônio cresce além dos milhões, a fricção aumenta junto. Os 15% não seriam um retorno consistente, mas sim uma média de desempenho dividida entre o período total.

The Intelligent Investor

Security Analysis

Daqui uns 15 anos eu volto pra avisar se deu certo.

u/quietinvestor · 2 pointsr/EuropeFIRE

You're still being quite general, but I'll answer the best I can.

To be honest, as a trader I mainly traded OTC (Over-The-Counter) interest rate products that are not available to trade for retail investors, so you learn most of it on the job, other than pricing and valuing the products themselves, which appears on textbooks, but nothing that can be of much use for a retail investor.

Each financial product is different, so although there are some "transferable" skills, it truly depends on what you are trading, but again, trading is very short-termist so I wouldn't recommend it to a retail investor in spite of all those guru books that sell you that you can be a successful day trader, you can't: you'll just bleed losses, bid-ask spreads, brokerage fees and short-term taxes, plus again there is no way you'll beat full-time pros.

In terms of learning Economics and Finance, I'm afraid I'm of little help because I learned it all during my degree and masters at a very in-depth, specialised level, purely through textbooks. Also, a lot of it is very theoretical and not sure if of much use for an amateur level, or for real life, for that matter.

I did watch quite recently a video by billionaire hedge fund manager Ray Dalio, which explains quite well and succintly how the economy works. For those readers that don't speak English very well, if you go into Bridgewater's youtube account, you can find the video in different languages.

If what you refer to is equity investing, but not anything related to the Efficient Market Hypothesis (EMH), I quite sympathise with the value investing approach. In that sense, books I'd recommend are:

u/CongregationVJackals · 2 pointsr/wallstreetbets
u/collegefurtrader · 2 pointsr/wallstreetbets

When you decide you need a faster way to lose money, read up on options.
Start here:

amazon link: Understanding Options

And: WSB guide to not being an options retard

u/sufferpuppet · 2 pointsr/wallstreetbets

Follow this link. Bring $11 with you.

u/Ragepower529 · 2 pointsr/wallstreetbets

I also have this one very good book
Understanding Options 2E

u/J1701 · 2 pointsr/wallstreetbets

Someone here recommended me this book awhile ago. It was easy to read and understand and I feel like I learned a lot from it. Would also recommend.

u/SnapChefHarry · 2 pointsr/options

If you're just beginning, my personal favorite is "Understanding Options" by Michael Sincere.

u/kevstev · 2 pointsr/wallstreetbets

I am guessing either earnings passed and were meh enough to not move the price so the implied volatility fell yet the price remained stagnant, or its just time decay.

I hate to be this guy but read a book you illiterate SOB. Trading stuff you have little understanding of is a great way to get wiped out quick. Just give me your money or at least let me know what underlyings you are trading so I can be on the other side of the trade.

Might as well give you a suggestion to read:

u/Ki1103 · 2 pointsr/math

I would start with this article by Mark Joshi. It's a little old (2008) but serves well as an introduction.

Now a quick disclaimer, I'm still quite junior and my work falls somewhere between the Desk/Dev roles. Based on your description you'd fall into more into the Model/Research roles. Also these are my opinions ymmv.

W.r.t general finance/economics, I dislike most finance/economics books. I would treat it more like learning a language listen to podcasts, read (good) blogs, non-academic books etc.

u/carlmatt · 2 pointsr/finance

Now it's been a while since I read these, and I'm not complete sure if these are the kinds of books that you're looking for, but I found them quite good:

Options, Futures, and Other Derivatives by Hull:

Investments and Portfolio Management by Bodie, Kane & Marcus:

I hope this helps!

u/Excelerate23 · 2 pointsr/UKPersonalFinance

This is the most recent edition as far as I know -

u/CollReg · 2 pointsr/UKPersonalFinance

Essentially it comes down to how long before you might want to spend it.

If it's sometime in the next five years, then keep it in cash, because the stock market might dip and there might be less there than when you started with.

Beyond a five year horizon, the chance that the stock market has made you money becomes greater. Check out this graph for historical returns (although these don't guarantee the future will be the same). Furthermore if you diversify your portfolio, the risk of adverse real world events causing a fall in your investments is reduced. As such the standard advice is to find a low cost globally diversified passive fund or funds, the classic example of which are Vanguard's Lifestrategy funds.

The most important thing is to understand what you're getting in to, so the best advice is to do some reading. Monevator is a fantastic and accessible site, and Tim Hale's Smarter Investing book is often recommended too.

u/balrogwarrior · 1 pointr/PersonalFinanceCanada

Do a tonne of reading. A lot of things are US based but the principles apply to Canada too. Read the investing for beginners info at to get a grasp. Joshua Kennon is a pretty smart guy when it comes to investing and business but he really just follows the principles of Benjamin Graham (Warren Buffet's mentor). Security Anaylsis is very good as well as The Intelligent Investor.

u/betanajc · 1 pointr/phinvest

>I’m 20 right now with 1.5M in savings.

You have a great head start compared to most people! Don't squander the money. You'll realize 1.5M isn't that big soon enough, if you haven't already.

>While I really do appreciate the groundbreaking and insightful concepts that he introduces in his books, I feel like it doesn’t specifically teach you how to invest especially if you are an absolute beginner

Yes, I noticed this too but there was one crucial lesson he taught in the book that people miss - cashflow management. What did you learn about cashflow management?

Don't underestimate that lesson. It's literally the key to becoming and staying wealthy. It's probably more important than learning how to analyze a company's financial statement, forecast price movement, etc.

Once you feel like you're ready, go and study the different methods for analyzing a company. I would suggest reading this book: Security Analysis and this. Those two books will teach you exactly what you're trying to figure out now in terms of "learning to invest".

Keep learning, don't stop growing.

u/more_lemons · 1 pointr/Entrepreneur

Start With Why [Simon Sinek]

48 Laws of Power [Robert Greene] (33 Strategies of War, Art of Seduction)

The 50th Law [Curtis James Jackson]

Tipping Point:How Little Things Can Make a Difference and Outliers: The story of Succes [Malcolm Gladwell]

The Obstacle is the Way, Ego is the Enemy [Ryan Holiday] (stoicism)

[Tim Ferris] (actually haven't read any of his books, but seems to know a way to use social media, podcast, youtube)

Get an understanding to finance, economics, marketing, investing [Graham, Buffet], philosophy [Jordan Peterson]

I like to think us/you/business is about personal development, consciousness, observing recognizable patterns in human behavior and historical significance. It's an understanding of vast areas of subjects that connect and intertwine then returns back to the first book you’ve read (Start with Why) and learn what you've read past to present. Business is spectacular, so is golf.

To Add:

Irrationally Predictable:The Hidden Forces that Shape Our Decisions - [Dan Ariely] (marketing)

The Hard Things About Hard Things - [Ben Horowitz] (business management)

Black Privilege: Opportunity Comes to Those Who Create It - [Charlamagne Tha God] (motivation)

The Lean Startup: Use Continuous Innovation to Create Radically Successful Businesses - [Eric Ries]

Zero to One: Notes on Startups, How to Build the Future - [Peter Theil]

u/Goodbot9000 · 1 pointr/Bitcoin

>The good traders GameKyuubi was wrong about only one thing: There aren't any good traders.

If you haven't seen a good trader yet, does that mean they do not exist?

Nobody had ever seen a black swan. For thousands of years, that meant that they didn't exist. Until someone saw one, of course.

You are running into a fundamental problem of inductive logic, and it's preventing you from seeing trading rationally. If you want to read more on how this matters to traders, I'd suggest The black swan by Nassim Taleb

>There are lots of us who believe we are good traders. But we aren't. Of course, some of the loudest voices on Reddit regularly remind us about how well they time the market. Except when they don't time the market well.

Here is the first misconception about trading. The best traders have never timed the markets. They utilize arbitrage opportunities, which exist in countless forms across every asset class, and rarely have anything to do with market timing.

I highly recommend reading The Quants if you're interested in learning how successful traders operate, as well as their history. It's not only extremely informative, but highly entertaining

>A paper published last October by the Haas School of Business at UC Berkeley entitled "Do Day Traders Rationally Learn About Their Ability?" used nearly 15 years of stock market day trading data to conclude that all day traders are irrational, the vast majority of day traders lose money, and even when day traders are successful, they "irrationally attribute success disproportionately to their ability rather than luck."

Now this I agree with. The vast majority of traders are terrible at trading, and when they do win, it's because they are lucky, not because they are smart. One of the fundamental books on Wallstreet for understanding this is What I learned losing a million dollars

The entire story is about an extremely successful trader who lost everything on one bet, mainly because his entire life before that had been a string of extremely lucky coincidences, and he never realized it.

>Of course, their success was due to their unique trading ability and not the fact that the entire market rose like a rocket.

Keep in mind, the best traders are always benchmarked against an asset or index. This is called beta weighing. If you make less money trading then you would have from just holding the bench marked asset, you have effectively lost money from trading.

>Warren Buffett, the most successful investor of modern times, has often said that he only invests in what he knows. His preferred holding period: forever. With that model, his company, Berkshire Hathaway, has averaged a 19 percent annual return since 1965 which means it has risen more than 1 million percent.

There are a lot of reasons for Warren Buffet's success, but it's worth pointing out that it's a lot more complex than just picking a security and holding it forever. If you want to learn about value investing, and the fundemental analysis behind it, check out Security Analysis

It's written by Ben Graham, the guy who taught Warren Buffet everything he knows. Arguably the most important concept in the text is called [investing with a margin of safety](

Bitcoin definitely has intrinsic value. The problem is, nobody knows what that intrinsic value is worth. Since there is no currently known method of valuing a decentralized network (although progress is being made) Warren Buffet wouldn't touch bitcoin with a 10 foot pole, and if you want to invest in value, the way he has, you shouldn't either.

>Trading is no solution for intelligent people. What we need are new ways to use cryptocurrency.

Ouch man, that's harsh. I'm interested in why you correlate hodling with intelligence. IMO, there are dumb people hodling, and dumb people trading. Most of the time, it's those who form an opinion based on a single source, or worse yet a single quote, who are dumb. It's those that think in absolutes, and without a healthy degree of skepticism.

According to Ben Graham, it's not the speculators or the investors that are dumb. It's the people that can't tell the difference between the two.

EDIT: Sorry, typed this up real quick at work. Spelling and grammar mistakes everywhere.

u/naked_short · 1 pointr/CFA

Depends on what you're interested in -

Most of my work is in derivatives so would recommend

u/vineetr · 1 pointr/IndiaInvestments

Assuming you are not trolling, you can glance through this book, this one or several others. Without knowing how to read financial statements (one of which is a balance sheet), you'll just be speculating on the value of a company.

u/structurallyengineer · 1 pointr/investing

The best two books anyone worth their salt would recommend are The Intelligent Investor and Security that order.

u/kubutulur · 1 pointr/finance

first: Reminiscences of a Stock Operator by Edwin Lefevre

Whichever version of

Liar's poker is interesting. Skip wealth of nations in my opinion. I like it, but there are more pressing things to read.

Next, I'd say read this "Options, Futures and Other Derivatives by John C. Hull'

Read Brett Steenbarger's books on managing yourself (enhancing trader performance, and other)

Check out Jeff Augen books on options trading.

next: Trading in the Zone : Maximizing Performance with Focus and Discipline by Ari Kiev

>>>Most importantly, read on different topics.<<<

Read anything by Fabozzi fixed income, mortgages

I had a few in mind, but this was a great help to me: GS summer reading list has great titles:

Graham, Bill Gross, John Train, Peter Lynch

I really liked The Predators’ Ball and Den of Thieves

Also, consider spending some money and getting one of these courses: (I'm not affiliated with them, but when they were starting out, I got one of the programs on discount, didn't fully persue it, but I found presentations to be very helpful on valuations and LBO introduction.. I imagine they got even better overtime)

u/kallesim · 1 pointr/investing
u/RiceStrikes · 1 pointr/investing

I'm 21 myself and like to be hands on with trading which seems to be what you want. You should look into trading weekly options. This is a book that's pretty good for covering all the basics Feel free to message me if you have any questions.

u/hsvp · 1 pointr/StockMarket

I'm a semi informed guy on stocks but totally clueless on options. Just started reading 'understanding options" by Michael sincere. It's a 2014 2nd edition. Seems to be pretty good so far.. seems to be geared toward beginners

u/excited_by_typos · 1 pointr/wallstreetbets

> im getting options approved this week.

Read this and save yourself a few thousand dollars. Seriously. But to answer your question, you need cash to sell puts - not stock.

u/NeverWasNorWillBe · 1 pointr/options

I thought this book was really good:

Also, watch all the videos and read all the links that are associated with options on Its a great resource.

u/ChemTrades · 1 pointr/options

Buy and read this book: Understanding Options 2E (Business Books)

u/tone_cold · 1 pointr/options

Honestly I would say read a book on it. Use your notepad, your highlighter, make tabs, the works. Read it and then read it again.

I used this

Don’t buy a seat at the table if you’re going to bet on a losing hand.

u/scarletham · 1 pointr/finance

Hull's book on derivatives.

Also, someone posted a similar topic 2 days ago. It's more related to the math/logic side of interviews, but still could be helpful.

u/NakedOptions · 1 pointr/stocks

There's no set price, like I said on the post, depends on the maturity, strike price, etc. There's opensource software on github that does this type of calculations as well as websites. If you wish to dive deep into the valuation of derivatives the golden standard is John C. Hull

u/everdayimdevelopin · 1 pointr/finance
u/hab12690 · 1 pointr/finance

Currently reading this for my derivatives class. Luckily it just became highly relevant to the job interview I have next month.

u/plaksel · 1 pointr/UKPersonalFinance

Smarter investing by Tim Hale is the one I would recommend.

u/becketsmonkey · 1 pointr/CasualUK
u/leftofcentre · 1 pointr/UKInvesting

Smarter Investing: Simpler Decisions for Better Results (Financial Times Series) is the one most people advise but I found it a bit dry and repetitive. Basically the message is buy index funds.

u/AlexanderSupersloth · 1 pointr/UKPersonalFinance

Read Tim Hale's book Smarter Investing. You don't need to play the markets or analyse companies or anything like that. It is super simple.

Tl;dr: Step 1: buy index funds. Step 2: wait.

u/snakevargas · 1 pointr/investing

I'm halfway through A Random Walk Down Wall Street. It is fairly easy to read and seems to cover all the common investment strategies. If you're thinking about long term investing you should check it out.

The author contends that the best performing investment strategy over long periods (such as 30 years) is a widely diversified portfolio that covers the entire market (e.g. index fund). Frontline aired an episode last year that came to the same conclusion. Mutual funds have management fees that reduce your gains. Fund performance will vary over time as the market changes (and fund management changes).

Another thing to consider is tax; you will pay capitol gains tax in the year you sell (15% of sale $ - buy $). Purchasing another stock does not get you out of this.

u/kusetsu · 1 pointr/pics

This book by Burton Malkiel does a better job explaining this point that the business card. It's only $10, too, and I'd consider it required reading for anyone who's learned about the stock market through a combination of parental advice and Hollywood.

u/Jdizzle78 · 1 pointr/booksuggestions

I would read <a href=>A Random Walk Down Wallstreet</a> for a good summary on investing basics. Also, I agree that Fooled by Randomness is a fantastic book from a philosophical standpoint.

u/Ba11erOnABudget · 1 pointr/investing

Posting for postings sake really.

Early 20's small timer dipping my feet into the world of investing. My only experience is the 4 unit finance class I took in College last year and whatever snippets I've read from /r/PF (mostly ppl recommending you have an emergency fund setup, debts taken care of and vanguard retirement plan). I have A random Walk arriving this weekend but decided to get into it a tad earlier just to feel it out.

I purchased $100 of AMD stock over the last couple of months starting in Oct. through RH. Since my initial investment, I've gotten a return of 12% which I think is pretty good taking it for what it is. I see the stock doing much better in 1 years time and will hold out until then regardless of performance while continuing to dump my pre-budgeted spending money into it (usually $100/month).

Again, I know it's virtually nothing at the moment but I want to further chase these feel goods with initial investments into some other companies. SHOR, BBRY, TMUS, and FEYE are on my watch list and I plan on reading up on Utilities, Healthcare and Energy but one step at a time.

TLDR: Hi guys, Where do you recommend I look to learn about energy, health/pharm/utilities.

EDIT: what do any of you think about CPRX?

u/Deeply_Alcoholistic · 1 pointr/Entrepreneur

Sorry for the picky correction, but it's A Random Walk Down Wall Street, amazon link here - and it's a great book, really changed my opinions on investing too

u/sceptross · 1 pointr/portugal

Curioso, acabei de o ler há umas duas semanas :P

Para além das sugestões dadas, sugiro também que leias a "continuação" do Rich Dad Poor Dad, o CASHFLOW Quadrant. Estou a lê-lo atualmente e se gostaste do RDPD, também vais gostar.

Um livro que eu também vou ler em breve é o A Random Walk Down Wall Street. Já o comprei, já vi muita gente referir-se a ele como obrigatório para qualquer pessoa que pretenda investir na bolsa.

O conceito de fundos e de acções aplica-se em Portugal tal como em qualquer outro país. E mesmo que não se aplicasse ou os aches demasiado instáveis por cá, nada te impede de investires na bolsa ou em fundos de outros países. O PSI 20 seguiu sempre as tendências do Dow Jones nos últimos 25 anos, de acordo com este gráfico, à exceção dos últimos 5 anos. Muito provavelmente por causa da austeridade / instabilidade nos bancos, diria eu. Mas a economia funciona de igual forma em qualquer lado, a tendência é sempre subir. Pode é demorar mais nalguns casos.

Só por curiosidade, começaste-te a interessar pelo tópico por alguma razão ou com algum objetivo em específico? Podes também procurar blogs de pessoas que tenham objetivos semelhantes, ou que já os tenham inclusive atingido. Costumam ser leituras bastante interessantes. Posso-te sugerir alguns se o teu objetivo for atingir independência financeira o mais rapido possível :P

u/mborges018 · 1 pointr/investing

Check this book out .. definitely helped me a lot starting out!!

A Random Walk down Wall Street: The Time-tested Strategy for Successful Investing

u/wpleary · 1 pointr/stocks

I would advise you to learn more about the history of the stock market, and how difficult it is to beat the market. Books like A Random Walk Down Wall Street will give you a great history of the market.

I personally have a hard and fast rule of never putting more than 10% in a single stock. I'd recommend putting the majority in a retirement account in an S&P 500 index fund, and then using whatever money you're completely OK with losing entirely as a trading account you can go crazy in. :)

u/Jim3535 · 1 pointr/personalfinance

This video is a good TL;DR despite the clickbait title.

The Bogleheads' Guide to Investing is a really good, practical book on investing.

A Random Walk down Wall Street: The Time-tested Strategy for Successful Investing is a pretty thorough takedown of stock analysis and picking.

u/TheRearguard · 1 pointr/investing

Here is a random article I found about stock simulators.

How do you like to learn things? There are tons of books, podcasts and blogs about investing. Here are some popular ones or ones that I have read and used

  • Books
  • Blogs
  • Podcasts
    • Money Tree Podcast -- pretty poor production quality but good general stuff.
    • There are tons of others, Google it.

      Warren Buffett famously/supposedly read every book in the financial section at the library by age 12--I think the important thing to take from that is you are still young and have tons of free time and aside from starting to invest as soon as you can (you can usually start as soon as you have earned income) you should be investing in yourself...getting good grades, figuring out what you want to do after high school, trying out businesses, learning marketable skills (e.g., coding, good writing skills, good interpersonal skills, good organizational skills, etc).

      Good Luck!
u/RV_Camping_Nightmare · 1 pointr/Portland

I've been reading lately and it hammers home how often bubbles and investor lust for quick and easy profits happen in history. It's like we never learn. :-( Hell I'm no better, having been caught up in the Bitcoin craze losing a couple hundred to panic selling.

u/birdweed · 1 pointr/investing

This question has been a lot answered a lot — you should check the sidebar.

That said, the boring but generally good advice is to first save up an emergency fund large enough pay for three months of your life with no other income during that period before you start investing. A lot of people say 10k is a good round number for that fund, but it'll obviously vary from person to person.

Once you have that, you should check out Robinhood. It gets a lot of flak on reddit because it gives people who might have no idea what they are doing a lot of power to blow all their money on penny stocks and emotion. While most other brokerages will charge you $8 - $10 for every trade, Robinhood charges nothing. That saves you a lot, especially if you're starting out with a relatively low portfolio value, but it also means you have to hold your emotions in check on your own, since commission fees won't be there to do it for you.

Vanguard offers a great variety of ETFs, many of which are available on Robinhood. You should check out that list.

I'd also advise you read at least one book. I really like A Random Walk Down Wall Street. I'll spoil the ending for you: It's really hard to beat the market. But it's not so hard to match it.

u/WildAboutPhysex · 1 pointr/AskEconomics

I highly suggest Burton Malkiel's Burton Malkiel's "A Random Walk Down Wall Street" to any non-technical (and, frankly, even technical) persons seeking a general understanding of economics and finance. It is easy to read and touches on 95% of the key terms that would be covered in an interview.

Anything more in depth than this would likely require more time than you seem to have.

Edit: a word.

u/osskjc · 1 pointr/investing

I would keep maybe 5k in cash as an emergency fund. With the 10k left I'd recommend a low cost stock mutual fund or ETF. Vanguard has good ones. VTSMX is the total stock fund, although that is weighted more towards large companies. If you want to focus on smaller companies, you could go with the small cap growth fund, VSGAX.

For books, A Random Walk Down Wall Street would be a good place to start.

u/DonDraperPussySlayer · 1 pointr/stocks
u/Danes81 · 1 pointr/personalfinance

I personally like The Neatest Little Guide to Stock Market Investing.

The author goes over the basics as well as styles of the greats.

u/TasoFlocus · 1 pointr/investing

It is a variation of the dogs of the dow strategy. Part of the value of your described strategy is dividends.

Jason Kelly discusses your described strategy in his book "The Neatest Little Guide to Stock Market Investing".

The strategy seems to have merit. Basically the argument is that any stock stable enough to be listed on the dow is a safe investment but since these stocks are at the bottom there is room for growth.

u/spacexfalcon · 1 pointr/investing

I read and skimmed a bunch of books on investing and stocks. The only one that seemed to really stick with me also happened to be the shortest one. Perhaps because its brief. This was a really good launching point for me. The Neatest Little Guide to Stock Market Investing by Jason Kelly

u/xilex · 1 pointr/personalfinance

This book was my first introduction to this world

The Bogleheads' Guide to Investing

u/nevertoolate1983 · 1 pointr/CFP

How about a list of books/resources in the sidebar for those just starting out?

I heard these are two good books for beginners
The Bogleheads' Guide to Investing

So You Want to Be A Financial Planner

u/BoomAngry · 1 pointr/personalfinance

The same thing happened to me in 2015. I was just starting my retirement savings out of school and ended up losing money in the first few months. But that was just unfortunate timing of the market. The shares I bought before that small market correction are now worth more than when I originally bought them.

We're both probably around the same age so time is on our side. If you're in a target date fund, you're well-diversified and don't need to worry about the short-term volatility in the market. If for some reason we lose all of our money, the world is screwed anyway and the last thing we'd worry about is our retirement accounts.

This will give you a good, brief explanation of dollar-cost averaging.

Also, I recommend picking up this book at your library:

It's a quick read and will give you more confidence in what you're doing. You have 7 months until you can contribute more to your Roth so that gives you plenty of time to get a good understanding and gain confidence in setting yourself up for the future.

u/5_yr_lurker · 1 pointr/personalfinance

I am currently a resident in my research years and finally started taking an interest in my finances. I would argue that you do not necessarily need an adviser yet. You should do some reading first. Here are some websites White Coat Investor (WCI) and Bogleheads, which has a great forum and wiki. You should definitely read these 2 books:

  • The White Coat Investor. It is a little to basic for me and I pretty much had zero knowledge about finances but its a quick easy read.

  • The Boglehead's Guide to Investing. I personally think this is the gold standard for personal finance/retirement investing. (Read it even though it says not to if you have large loans). It is also a quick easy read but explains things considerable better than WCI book. It also discusses adviser and types of different advisers. Going forward you should make it a habit to read at least one finance book a year (treat it like CME).

    I too plan on PSLF (my residency + fellowship will be 9 years so pretty easy decision). My personal opinion is to live like a resident for 2-3 more years (no lifestyle inflation) and accumulate as much money as possible. That means renting for the same amount (if possible) wherever you move for you job. No new cars and the like... After just 2-3 years of this, you will have a decent chunk of money for whatever.
u/CarlSagansturtleneck · 1 pointr/videos

A decent place to start.

If you don't want to read a book, then just google "index funds" and "asset allocation" to get started.

u/steptonwat · 1 pointr/IWantToLearn

You should start by reading The Bogleheads' Guide to Investing and A Random Walk Down Wall Street. Both are short reads and very useful for beginning investors.

These books, and most of the people at /r/personalfinance, will tell you that your best bet is to buy index funds. They will also point you to Vanguard, who generally has the lowest fees around. There are a couple of strategies that get advertised a lot:

  1. Buy a target date fund. You just choose when you want to retire and invest in that fund. It has a balance of domestic and foreign stocks and bonds that shift towards more bonds as your retirement date approaches. Example: Vanguard Target Retirement 2045 Fund (VTIVX)

  2. Buy a "3 fund portfolio". This is generally a broad domestic stock index, a broad international stock index, and a broad bond index. This could be VTSMX, VGTSX, and VBMFX.

    In terms of your money, you should start by maxing your IRA and 401(k) contributions each year, and then invest however much more into a standard "taxable" account. Note that you generally want your bond holdings in a tax-sheltered IRA or 401(k). Also note that there are other companies that offer low-fee index funds as well.
u/nuclear_throwaway · 1 pointr/UKPersonalFinance

I think that's just a summary (I have the hardback and it's 570 pages long). The full one is here:

It's good stuff.

u/krappa · 1 pointr/UKPersonalFinance

It's been a while now, but I think I got the idea from Expected Returns by Antti Ilmanen; it is an interesting read but it's quite heavy, so I only made it to chapter 4.

u/TheseWerewolf · 1 pointr/ethereumnoobies

This O'Reilly book won't by published until this summer, but I'll be looking out for it.

u/BeachJustic3 · 1 pointr/ethtrader

To an extent but not really. He demonstrates some basic solidity programming, but his goal is to provide a thorough explanation of Ethereum, it's uses, and why it differs from other public chains that non-technical people can understand too.

If you want something more technical check this one out

Edit: I know it's not out yet, but it will be one of the better references out there.

This guy isn't half bad if you want one now.

u/hazed-and-dazed · 1 pointr/ethdev

There’s plenty of online resources that dives deep into each thing that guide suggests .. but given how quickly this space moves, things may quickly be outdated. There’s no one course or one place for this, unfortunately.

As for a textbook, would highly recommend Mastering Ethereum by Andreas Antonopulous and Gavin Woods:

I also listen to some podcasts like Unchained, zero knowledge, Crypto Basics etc - they are not really dev oriented but pretty good to keep a ear on the ground on what’s happening in the space while stuck in traffic.

u/eukdole · 1 pointr/ethdev

Introducing Solidity and Ethereum is alright. For now I would just look into the documentation of Solidity, Truffle, geth, Web3 etc. Mastering Ethereum looks super promising, as it's written by Gavin Wood (co-founder of Ethereum, made Solidity) as well as Andreas Antonopoulos (wrote Mastering Bitcoin). It's supposed to come out later this year.

The problem is that these tools change so fast that books might be outdated by the time you read or get them. It doesn't help that this is such a new field. Even the documentation sometimes isn't up to date.

u/bitusher · 1 pointr/Bitcoin

He wrote this book

and often talks about how wonderful ETH smart contracts are which is absurd.

u/Jericoicee · 1 pointr/personalfinance

I'd start by looking at this webpage:
This breaks down the steps of that flow chart for you. The simple flowchart is amazing for beginners.

I would then look into this blog. it has many useful topics but this post in general is a simple intro to see if you are interested in it:

If these topics interest you I recommend this book.

Best of Luck.

u/boringtobenormal · 1 pointr/personalfinance

I wish I would have read this when I was your age, plus Dave Ramsey, and you’ll be golden.

If you want real estate, invest in a REIT. You need more money to make a dent in “real assets” like real estate.

u/UnknownEssence · 1 pointr/financialindependence
u/pbrewer81 · 1 pointr/financialindependence

Yes it is. I will not do the explanation justice so below is a link to JL Collins book A Simple Path To Wealth where he dives into the market trends.

The short answer is that the market always goes up. If you search for a graph of the stock market showing the last 100 years, while there are a few periods where you see some big dips, over the long run it always head higher.

Check out this book... it’s worth every penny!

u/longlivedasset · 1 pointr/personalfinance

Read and listen to Dave Ramsey if you want to be "good" with personal finance.

If you want to "optimize" finance, then come hang out with us in r/financialindependence

Podcasts: ChooseFI, Afford Anything

Blogs: Mr. Money Mustache

Books: Simple Path to Wealth, Your Money or Your Life, Millionaire Next Door, The Richest Man in Babylon


Some pointers:

  1. Don't do what most people do. Chances are, they know less about personal finance than you do.
  2. Spend based on your value (within your means of course), not based on the percentage of income.
  3. Don't spend money to impress others.
  4. If you think 20's is time to spend every penny to have "full" experience, look at this chart.

u/nealosis · 1 pointr/StockMarket

Since you are in the beginning stages of investing I highly recommend JL Collins’ book. This will introduce you to the fundamentals of saving through Index Funds.

u/jblaze5779 · 1 pointr/oilandgasworkers
u/quantifical · 1 pointr/PersonalFinanceNZ

100% recommend J L Collin's stock series or his book if you're going to go full ham on shares.

u/wsbtc · 1 pointr/personalfinance

The Simple Path to Wealth by JL Collins

It is more about investing but aimed at your age and very readable.

u/wizardomg · 1 pointr/booksuggestions

The Shadow Of The Wind by Carlos Ruiz Zafon and The Curious Incident Of The Dog In The Nighttime by Mark Haddon. You're welcome... about Shadow.. It's mystery someones burning copies of a book and the kid in the bookstore tries to figure out who's behind it. It's soooo goooood. For the other request maybe Think and Grow Rich by Napoleon Hill and Rich Dad Poor Dad by Robert Kiyosaki

u/SocratesTombur · 1 pointr/india

Sounds like a great father, he is working to build a desirable habit in you real early. But really your investing will start once you have regular income.

> Any sources to learn about such stuff?

Too many sources to mention. The book, The Intelligent Investor by Benjamin Graham continues to be a gold standard. But it is pretty wordy and difficult for the first timer. Rich Dad, Poor Dad is exciting to read but very shallow and even misleading. Most of these books use the American market in perspective.

The Four Pillars of Investing. Great book for beginners!

u/CallMeJono · 1 pointr/OpTicGaming

I'm pretty sure it is this book: Rich Dad Poor Dad

u/YellowKingNoMask · 1 pointr/changemyview

It seems you're confusing your critique of Marx's theories with the idea that he wasn't the first to articulate those ideas as well as he has. Just so you know, the idea that Marx's theories were just a rearticulation of what a bunch of people had thought through time immemorial is false. In fact, the kind of capital-as-powersource Marx was talking about didn't really come into it's own before that time period. Before that, major power sources were armies or feudal alliances or churches, not the business class.

Regardless of how you feel about what he said, he was one of the first (if not the first) person who can really be shown to have said it.

> Indeed, the early criticism of Marx surrounded his fathomless ignorance of the landowning peasantry, which certainly owns capital, and that he wrote off as the lumpenproletariat.

We often use the word Capital to describe currency or owned object of any kind, but that's not really what Marx means when he says 'Capital'. How can owned land be 'capital' in one case but not in another? Because Capital is meant to refer to something which can be rented, loaned out, or otherwise gain interest or increase in value. The landowner who lives on and, say, subsistence farms a small tract of land is not equivalent to a landowner who owns a larger acreage that he rents out to farmers or factories or whathaveyou. The latter can use his land to function as an asset, while the former is not in a position to property capitalize on what he owns.

A word I like to use instead is asset; which has the explicit meaning of something that will increase in value and is relatively liquid.

> Indeed: there is no such thing as a capitalist class, because everyone who participates in the commerce of society owns capital of a sort.

But, as I hope I've explained, Capital is a matter of scale. Enough money to live on is not capital, as it must be spent and can't be used to invest in assets capable of generating more capital with relative independence. If one can leverage their capital to the degree that they no longer need to sell their labor, makes one a capitalist. The ownership of something that could be capital depending on the circumstances does not.

If you don't like Marx, the best book for pointing this out is actually Rich Dad, Poor Dad, by Robert Kiyosaki-

His intention, of course, is to explain to everyone why it's good to be and how to be rich; but in doing so, he defines a worldview that is almost pure Marxism.

u/The-muffin-man34 · 1 pointr/personalfinance

Read rich dad poor dad. It is easy to read and teaches you basic concepts of money and investing. The main point of the book is to make money work for you, not you working for money. Link:

u/Trugy · 1 pointr/personalfinance

The best ones are of course free, and both this subreddit and bogelheads have a wealth of knowledge. I try and watch a tutorial or read a story a few times a week on both

For how to create and stick to a budget as a young professional, I like Dave Ramsey. He has tons of good rules of thumb and pitfalls to avoid that will be useful for the rest of your life. He's a bit conservative though, and I don't necessarily agree with his cash only, no debt strategies.

Suze Orman is another great author for younger people, especially when tackling big things for the 1st time like home ownership and loans

My top suggestion though is Rich Dad, Poor Dad. It's not as direct as many other personal finance books, as its more general advice on how to steer your financial life, but itss an incredible book

u/burncycle · 1 pointr/AskReddit

This book. Read it.
Dad read this -> he's wealthy now. I read this -> I see what everyone is doing wrong. I'm now waiting my turn to get out of college and get started on this.

u/tallish_possum · 1 pointr/AskReddit

Rich Dad Poor Dad

Read it, teach them object lessons and show them the things that the educational system will never teach them if you don't now.

u/mk2ja · 1 pointr/personalfinance

Baby Step #7: Build wealth and give!

Once your financial house is in order—all debts are paid off, emergency funds are fully funded, retirement contributions are maxed out, then the only thing left to do is keep finding ways to build wealth and enjoy it.

I've been reading a book this week (almost done) that has really helped me think of some things I can do once I get to that point myself. Rich Dad, Poor Dad by Robert Kiyosaki really harps on the idea that money should work for you, instead of you working for money; the trick is to find creative ways to make that happen. It's got me really excited to get my debts and savings squared away so I can move on to the wealth-building stage!

Edited to add: In response to your remark about chasing income increases… read the book linked above! Don't just make it your long-term goal to keep finding ways to work for more money, when you could be finding ways to get money working for you! It's not right for everybody (it might not even be right for me), but the sooner people think about it like that, the sooner they can try it for themselves, the better their chances of achieving it!

u/lcoursey · 1 pointr/AdviceAnimals

Anyone wondering about wealth:

Read The Millionaire Mind

Read Rich Dad, Poor Dad

Read The Millionaire Next Door

These books highlight the differences in how people talk to their children about wealth.

u/goodcurry · 1 pointr/personalfinance

I started with The Bogleheads' Guide to Investing

Edit: updated link

u/BasicBrewing · 1 pointr/personalfinance

You don't really have any control over your ROI, there are much bigger factors at play. You want to control the things that you can - which is why keeping fees reduced is a strategy stressed around here.

Overall, I think you are in good place, though. Keep doing research, and most importantly, keep on saving.

If you are looking for some "light" reading, check out this book (think there are free PDFs available, too).

u/hereimalive · 1 pointr/investing

I can understand the short time horizon, however I'm also comparing the services I'm being offered, especially on my second bank where I have most of my money and since 2007 they had a 41% increase, while S&P in the same time period had almost 100%.

Even with a more conservative approach in their investments, which I like because in 2008 there was no negative returns and they actually ended up the year at +0.32%, while S&P 500 ended at almost -40%. However, even with that -40% S&P was able to return more in the same amount of years, even with -40% years.

I pay 1%-1.50% commission to the bank AFAIK.

Do you think in the MSCI BRIC ETF that a 3% annualized for the past 10 years is good? That's what I'm getting mostly with the investments I'm getting at the moment.

From what I can understand $BKF had 45% increase in 2017, while MSCI BRIC ETF had 30%. In 2016 it was 23% to 31%. Either I'm reading this wrong, but it wasn't nearly identically performances, it was a 10% difference each year.

I will read Boggleheads, is it this?

u/Chadsius · 1 pointr/personalfinance

Devil Take the Hindmost - fun, readable book about the history of investment

The Boglehead's Guide to Investing has a lot of practical info on wealth maximization through minimizing taxes, long term consistent debt such as frequent new car purchases, and general buy and hold investment strategies solid, classic book about foundations for building wealth

u/DrunkenTarheel · 1 pointr/personalfinance

Those are definitely competitive rates. He's probably hiding some additional fees though, like the expense ratios of the funds themselves, and any load fees.

However, the best thing to do is absolutely to continue to manage things yourselves. There is very little value that a CFP can add over just doing some research, after all, who cares most about your financial future, you or some guy who is just after $0.7% of it?

The wiki of this sub has a lot of great information, you may also want to check out some books like The Bogglehead's Guide to Investing. I can guarantee you that the $14 you spend on that book will give you a better return on your money than the 0.7% you pay an advisor....

u/martinarcand1 · 1 pointr/PersonalFinanceCanada

>I use her car for work

Shouldn't you have some sort of insurance then?

>(down approximately 6% on the year)clearly i suck at that game.

I recommend you read up on some books! (An index of stocks are up 7.69% in Canada so far this year and 4.16% in the USA)

A good one about investing is "The millionaire teacher". It's a good book for everyone.

Another more 'general' one about finances is "The Wealthy Barber Returns".

Also a general website:

u/DivEarner · 1 pointr/investing_discussion

There are a number of books or blogs that you can follow as well.
Millionaire Teacher book

Start somewhere and you will adjust what you need to learn.

u/MusicalWrath · 1 pointr/personalfinance
u/KamikazeEmu · 1 pointr/personalfinance

I recommend you read up on index investing. This is a good book:

Also understand the power of passive investing. Another good book:

At the very least read the first recommended book. I feel that index investing is the best way to go, but you should do your research and decide if you think it is as well.

u/flashbang123 · 1 pointr/asktrp

Compound interest is the closest thing to magic in this world. You need to at least learn the very basics of investing. Check out r/financialindependence and read this and this.

Never stop exercising. Start doing 5x5's if you aren't already. If you have time to watch TV you have time to lift.

Don't waste your time and attention on mental opiates. Kill your facebook account. Fuck social media.

u/Berries_Cherries · 1 pointr/politics

The top 1% pays 47% of all taxes, here are some sources TaxFoundation, Wall Street Journal, CNBC, and finally The IRS.

Now I want the bottom half who [pay 2% of all taxes] to pay their fair share.

Now the question becomes what is someone's fair share? Is it proportional to the amount of wealth someone has, The top 1% have 34.6% of the wealth but as I pointed out earlier they pay 47% of all taxes.

My solution is to take away voting rights for people who are net negatives when it comes to taxes; that is, you should not be able to vote to take more of someone's money because you feel you deserve it.


Millionaire flights are already happening in The US, France, and in the UK (three sources there) to the tune of billions in lost tax revenue.


Read this book called Millionaire Teacher It’s true that many millionaires have earned their money by starting (or selling) their own businesses or finding high-paying positions within organizations. But this certainly isn’t the only way to amass $1 million. In his book “Millionaire Teacher,” Andrew Hallam explains how he saved over $1 million as a teacher well before retirement age, outlining how he used low-cost index funds and a disciplined approach to saving, investing and living on a budget to build a nest egg most of his fellow teachers would envy.

In addition to investing in the stock market, like Hallam, other millionaires boost their bottom lines by adding second jobs or passive streams of income. For instance, investing in real estate can allow a middle-income wage-earner to develop rental income as a second, reliable income stream. Artists who pay the bills and invest with the income earned through a day job might sell paintings for hundreds or thousands of dollars on the side and bank the extra income. Those who don’t earn million-dollar paychecks can still reach the $1 million mark; it just requires discipline, creativity and focus on the goal.

The largest group of millionaires from 2014 actually came from mediaGraphic chart


Our problem with economic growth is that the government pushed everyone to get a college degree so hard that now even the most menial jobs are asking for a degree and years of experience, either internship or volunteer/hobby, or a masters degree for relatively basic work. The government created an education bubble and when our manufacturing jobs went overseas, which was always going to happen due to our short term WWII based monopoly on manufacturing (We bombed nearly all of Europe's manufacturing and China was still agrarian), creating a bubble and popping. So now we have a bunch of college educated kids fighting for minimum wage jobs for two main reasons:

  1. Education inflation

  2. Housing bubble bursting, again the result of government encouraging banks to give out NINJA or No Income No Job Approved loans. Which tanked the market leading people to lose life saving both in the stock market and in home values prolonging, sometimes indefinately, retirement for some workers; for some of our younger workers that means no higher paying jobs because there are no openings and a glut of labor driving wages down.

    The following is from a HUD memo quoted here

    >For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership.


    Cool, so the housing crisis was largely a problem of government telling people to go out and buy houses, in some cases four or five, that they could not afford and the banks that we instructed by HUD to lend them the money anyway. Next, you have the college bubble, both the education bubble and the accompanying debt bubble, which are due to pop within the next three to five years at most, again due to government overregulating and pushing an equality of outcome secnario.

    Now if you want to increase my taxes, which we have already established I pay a disproportionate amount of (47% on total percentage, 34.6% on wealth – which isnt even taxed) to fund what? Another government intervention in social welfare, or even worse social justice, that will cause a new created asset bubble and tank the economy in 20 years for my children?

    No thanks.

u/cdnson · 1 pointr/vancouver

> Is it silly to ask a professional for their help on my first trades and pay them for their service?

Not at all, plenty of smart and well-paid people do it.

The thing is, there is plenty of evidence that paying someone to manage your portfolio is just not worth the fees. IMO, internet_poster is right about buying index funds.

I highly recommend this book:

Millionaire Teacher

It is available at the public library.

u/someuname · 1 pointr/vancouver

[Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School] ( seriously this has been a bit of a godsend and has changed a lot about the way I think about personal finance.

u/jstbcs · 1 pointr/personalfinance

A "rule" I have heard over and over is keep a 6 month emergency fund. If you cut it down to that you free up 80k, I enjoyed this book.

TL:DR. put 80k into an index fund.

u/upachimneydown · 1 pointr/japanlife

> every time I get an idea to invest and start reading about it I get frustrated and give up.
> It can't be that hard because it seems like everyone and their baby has investments in one thing or another but I'm too dumb to figure it out.

Read one book: The Millionaire Teacher.

u/ass_munch_reborn · 1 pointr/AskReddit

Hmmm.... I learned my investing on the streetz!

A good all around book is called - which is great, but I don't remember how much this has in terms of investment material:

And this book looks promising:

u/unusedusername3 · 1 pointr/personalfinance

I thought this one summed up many things nicely:
Only Investment Guide You'll Ever Need by Andrew Tobias
Contrary to it's name, it has more to do with personal finance than investing.

u/redditors2013 · 1 pointr/personalfinance

Here are the first two I read to get you started, I'll see if I can't dif up the others:

u/vorxaw · 1 pointr/personalfinance

I highly recommend this because it's a really accessible read, and it go over some things that are beyond investment

u/nimbycile · 1 pointr/FinancialPlanning

The Only Investment Guide You'll Ever Need has a chapter specifically for winning $1m. It's advice is pretty good. Don't buy a boat.

u/gabihg · 1 pointr/personalfinance

If I were you, I would put as much money towards college as you can. The less debt that you have the better in the long run. I'd also open an IRA. If you were to put in $10/month now, it would drastically compound later. Here is a [link] ( to visually show you compounding.

I'd also suggest [this] ( book. It's $10 and is well worth the money.

It's great to save for retirement and not have debt but no one has mentioned budgeting. Learning to budget is really important.

I'm 25 and started saving a few years ago. I get to go out for coffee and drink with friends when I want, but I still save 1/3 of pay checks for retirement/ savings.

Instead of buying lunch 5 days a week at work, I bring my own lunch 3 days a week. Let's say a meal is $7.

$7X5 days=$40/ week. $40x52 weeks= $2,080/ year.

$7x2 days=$14/ week. $14x52 weeks= $728/ year.

That saves me an extra $1352 to go out, to travel with, to pay off debt or to retire. Buying coffee at Starbucks daily is great but adds up.

You can work smart now and enjoy retiring at 50 or travel the world simply by being smart about your finances.

u/Simon_Drake · 1 pointr/brexit

Jacob Rees Mogg's father wrote a book on how to do exactly this - invest then cripple the economy and reap the profits for yourself.

u/Treczoks · 1 pointr/worldnews

Written by Jacob Rees Mogg's dad. Basically the "Brexit Manual".

u/esprit-de-lescalier · 1 pointr/unitedkingdom

There is a whole book on it:

Oh look, it's written by Jacob Rees Moggs dad...

u/chemcalfarmr · 1 pointr/Random_Acts_Of_Amazon

I have a thing for this song atm Bleed out - Blue October :)

This book has options under $10!

And why must you stay up? Ive been working late this week n cant sleep XD

u/pumpkin_guts · 1 pointr/AskReddit

Along with the other suggestions here, you also need to start doing some heavy research into finances. I can tell you that charged off loans never leave your credit report, while a lot of things will drop off after seven years. If you haven't already paid back charged off loans, do those asap, because even though they still appear, how fast you pay those charges off also shows up. It's important that you understand your obligations and also how each of these things affect you so that you can address the situation properly.

I've enjoyed reading Get a Financial Life by Beth Kobliner. For me it was informative without being overwhelming. Also, Money Girl's Smart Moves to Deal with Your Debt by Laura D. Adams was a good read, too.

u/acranox · 1 pointr/pics

This is a quick read that is highly useful if you want to learn a thing or two on the topic.