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Millennial Money: How Young Investors Can Build a Fortune Hardcover – October 14, 2014
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“O'Shaughnessy, portfolio manager and contributor to financial media, aims to explore every facet of investment opportunities for Millenials. He offers his investment strategy for outperforming the market, based on five key attributes that, implemented together, become powerful.” ―Booklist
“O'Shaughnessy provides sound advice that will give millennials the advantages they need to improve their financial future.” ―Publishers Weekly
“Patrick has done something very unique: he's written a highly readable book that speaks up--not down--to young investors, while keeping things sophisticated enough so that even veteran investors will find indispensable insights within.” ―Joshua M. Brown, author of Clash of the Financial Pundits and on-air contributor to CNBC
“If someone had given me this book when I was in my 20s, I'd be a billionaire today. Buy this book for someone you love who is in their 20s. They will think kindly of you when they are in their 60s.” ―Barry L. Ritholtz, Chief Investment Officer, Ritholtz Wealth Management
“Patrick has got it right. The sooner you start investing, the more you make. Patrick's recommendation to invest broadly in international stocks is also spot on for young investors. This book is a must read for anyone from their 20's to 40's.” ―Tim McCarthy, Former President, Charles Schwab and author of The Safe Investor
“Most young investors I know have abandoned stocks, and that's a big mistake. O'Shaughnessy lays out a clear path for building wealth over a lifetime with a key message: start now, invest globally, and master your own behavior.” ―Meb Faber, CIO, Cambria Investment Management, and author of The Ivy Portfolio
“Patrick O'Shaughnessy has written an accessible, thought-provoking guide to helping Millennials make the right financial decisions.” ―Kevin Roose, Bestselling author of Young Money
“Patrick's book is a must read for my generation, and anyone who cares about building a more secure life for themselves and their loved ones. His message is clear: the time to act is now and the future is ours to take!” ―Bryce Dallas Howard, Actress
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Top Customer Reviews
I have the same feeling about this book. In this book he proposes broad portfolio policies. But I think anyone who ignores them will be much less wealthy in the long run. This book is one of my favorites. I highly recommend it.
Most readers of financial books and news today are Baby Boomers or early Gen Xers, as it isn't until early middle age that most Americans begin to think seriously about saving and investing for retirement. The Millennials, at this stage of their lives, are more focused on starting their careers and paying down student loans; retirement planning is not high on the list of priorities.
Patrick O'Shaughnessy--himself a Millennial--seeks to change this generational attitude in Millennial Money: How Young Investors Can Build a Fortune. It is an impassioned plea to start saving early and aggressively, as the Millennials will face a very different reality in their golden years than that enjoyed by their parents and grandparents. Written by a Millennial in a voice that other Millennials will understand, O'Shaughnessy writes about "financial karma" and notes that, when it comes to money, we reap what we sow: "Building good individual financial karma is straightforward: spend less than your earn and invest a chunk of your income in the stock market every year."
Unfortunately, as a collective, we're looking at some very bad karma. Social Security--if it still exists in anything resembling its current form--will be far less generous, as America's high and growing debt load makes the status quo unsustainable.Read more ›
What makes this book so interesting is that it’s not only about specific investment advice, but about the larger issues that affect our investments. The first section addresses larger economic trends, including the inflation associated with the absence of a gold standard, to argue that young investors need to completely rethink the definition of “risk” in an investment. The risk isn’t crazy fluctuations in the short-term, but rather the loss of purchasing power due to steady inflation over the years. On a similar note, O’Shaughnessy argues that individual investors are actually better able than fund managers to achieve good returns over the long term, because we can disregard short-term fluctuations in our own portfolios, while fund managers are more concerned about keeping their jobs by avoiding any terrible but ultimately irrelevant losses in a single year or even quarter. O’Shaughnessy also says that we should take a global approach in our investing, citing the example of Japan in the 1990s to show that even the most successful-seeming industrial economy can be susceptible to devastating collapse.
The second section of the book presents the more typical discussion of a specific investing approach that the author recommends.Read more ›
Most Recent Customer Reviews
What I liked most is his checklist that he provides. He then elaborates on each point and explains the details pretty well.Published 3 months ago by Jim Konstanty
Bought this for my young investor and he really enjoyed it. We've discussed some of the ideas in the book and he's used them in his decision making process.Published 4 months ago by Maudy1
Good investment strategy for young investors with long investment horizons.Published 5 months ago by Johnathon Cribb
This book has eased my mind about investing and has given me the confidence I needed to investment within the stock market.Published 6 months ago by Ryan O'Hora
$25,000 invested at age 25 with a normal growth profile would become 1.5 million when their Social Security age arrives. Read morePublished 8 months ago by joseph crowley
Very good information for someone in the early years of investing. He can get into the weeds for a greenthumb, but does a nice job bringing it full circle to reiderate his... Read morePublished 10 months ago by C. Hundley
I had low expectations for “Millennial Money” because I have been in investing for more than a decade, know about investing from my own experience and mistakes, and have read a lot... Read morePublished 10 months ago by Acridotheres