- Hardcover: 336 pages
- Publisher: Wiley; 2 edition (August 18, 2014)
- Language: English
- ISBN-10: 1118921283
- ISBN-13: 978-1118921289
- Product Dimensions: 6.3 x 1.4 x 9.1 inches
- Shipping Weight: 13.6 ounces (View shipping rates and policies)
- Average Customer Review: 437 customer reviews
- Amazon Best Sellers Rank: #6,586 in Books (See Top 100 in Books)
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The Bogleheads' Guide to Investing Hardcover – August 18, 2014
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From the Inside Flap
The Bogleheads’ Guide to Investing is a handyresource that is written for anyone who may be grappling with afinancial problem or simply wants to know how to invest money toget the best results. The Boglehead team of investmentexperts—Mel Lindauer, Taylor Larimore, and MichaelLeBoeuf—provide the answers for gaining a foothold in themarket and keeping it there.
Investing can be simple, but it’s certainly notsimplistic. Over the course of nearly twenty years, the followersof John C. Bogle have evolved from a loose association of investorsto a major force with the largest and most active non-commercialfinancial forum on the Internet. The Bogleheads’ Guide toInvesting is a hands-on resource for tapping into John C.Bogle’s “uncommon” investing wisdom.
Like the first edition, this thoroughly revised and updatedsecond edition of The Bogleheads’ Guide to Investingoffers investors of all stripes, ages, and investing prowess a DIYhandbook that champions the sage investment wisdom of John C.Bogle. Often witty and always wise, the book is filled with sageadvice that helps investors take the first step on the road toinvestment success. And to keep investors on the right path, theauthors illustrate how relying on "common sense" promoted by WallStreet is destined to leave you poorer.
The updated second edition includes the latest information onhow to profit from backdoor Roth IRAs and Exchange Traded Funds.The book also contains timely updates on estate taxes and gifting,plus changes to the laws regarding traditional as well as 401(k)and 403(b) retirement plans. In addition, the authors offerinvestment warnings and principles that are both precisely accurateand sometimes counterintuitive.
Assuming no extensive knowledge of finance on your part, theBoglehead authors march you step by step toward the winninginvestment strategy.
From the Back Cover
Praise for The Bogleheads’ Guide to Investing, SecondEdition
"I'm often asked to recommend a good, basic book on investing,and The Bogleheads' Guide to Investing has been my go-topick since its original publication. It focuses on all the rightthings: the virtues of maintaining a frugal lifestyle, keepinginvestment costs down, and building a simple, low-maintenanceportfolio. And importantly, it also tells investors what they cansafely tune outnamely, day-to-day market action and thelatest 'hot' investment products. Its advice will stand the test oftime."
CHRISTINE BENZ, Director of Personal Finance,Morningstar, Inc.
"John Bogle set out to reform the mutual fund industry nearly 40years ago. He saw a high fee, self-serving, good ol' boy networkand thought it was wrong. Bogle believed the purpose of aninvestment company was to be investor-focused. His idea turned intoa revolution. The Bogleheads' Guide to Investing is atestimony to the massive changes that have taken place as a resultof Bogle's vision. The ideas in this book have saved countlessinvestors billions of dollars in unnecessary fees. Hats off toTaylor, Mel, and Mike for a job well done."
RICK FERRI, CFA, Founder, Portfolio Solutions LLC
"The Bogleheads' Guide to Investing describes asophisticated and proven approach to successful investing.Nevertheless, its message of saving, investing in a diversified,balanced, low cost portfolio, and keeping it simple is easilygrasped by investors of all levels of experience. Regardless ofyour investment acumen, this book provides many clearly expoundedinvestment insights and is a great roadmap to financialsuccess."
GEORGE U. "GUS" SAUTER, Retired Chief InvestmentOfficer, Vanguard
"The best one-stop shopping solution to saving, debt management,investing, insurance, and financial planning I have seen betweentwo covers. For the price of a week's worth of lattes, you cansecure your future."
WILLIAM J. BERNSTEIN, cofounder, Efficient FrontierAdvisors, LLC, author of The Intelligent Asset Allocator, TheFour Pillars of Investing, and The Investor'sManifesto
Top customer reviews
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Money is something we all have to think about multiple times a day and those decisions have a long lasting effects on our future selves YET most of us don't get a proper education on how to manage our finances!
This book got me thinking long term. Do I need to buy the most expensive phone? Do I need a brand new car? Can I put this charge on my credit card and pay it off in full at the end of the month?
Maybe my hard earned money is better spent on my future, that one dollar saved today will be $8-$10 when I retire if I instead invest it. It taught me to not get fancy with mutual funds that peel off 1-3% in fees and instead stick to low cost index funds. That little 1% savings on fees over time could mean retiring when I am 55 or having to work another 10 years or more.
As the financial crisis was hitting the US in 2008, and the stock market was tanking I was buying. I had quickly paid off my debts and my standard 10% retirement savings per month went to 20%, then 30%. By 2009 I was putting away nearly 50% of my income into my retirement and brokerage accounts.
Ten years later I am debt free and in a much better financial situation than my peers. Buy this book, educate yourself and invest in your future.
Before finding this gem of a book, I was reading several success books this year like "Success Principles" by Canfield, "Success Through a Positive Mental Attitude" by Hill & Stone, "The Richest Man in Babylon" by Clason, "The Templeton Plan" by Sir Templeton, to name a few. One book led to another and I ended up with "Smart Couples Finish Rich" by David Bach, which led me to Graham's "The Intelligent Investor". I first read Graham's 1972 edition (thanks to LA public library) and was looking for more current examples, so I purchased the 2003 edition with commentaries by Jason Zweig, which proved to be a very worthwhile upgrade.
While looking up some things I didn't understand online, I repeatedly came across the bogleheads forum, so I signed up as a free member and asked a question. The bogleheads were so helpful that I not only got my question answered, but also understood that the people there were genuinely trying to help. One of the bogleheads led me to a forum page which had book recommendations, so I purchased the kindle edition of this book.
And the moment I started reading the book, I knew this book had the answers for most of my questions. I finished reading it in two days! I just wanted to do this homework done asap and take care of my 401(K)s and IRAs. I had done a big timing mistake six years ago and went highly conservative (80% bonds, 10% stocks and 10% REITs). Luckily it was before the crash, so I had netted some profits, but I waited too long to get in to stocks again. Then I changed jobs and never paid attention! And the stock market had its best bull run for the past 5 years (no one told me!)! Wish I had put my money in a target retirement fund and went to sleep, but that wasn't the case :-(
This excerpt from the book sums it all up about the authors and this book:
"We have no hidden agendas. We aren't financial planners or money managers looking for clients. We don't have a high-powered, get-rich-quick weekend seminar to sell you. We are all well over 70 years of age, financially secure, and haven't missed a meal yet. If you want to read the book at the bookstore, the library, or borrow it from a friend, that's fine with us."
So you are not getting a book that just skims a few things and then asks you to look into the authors' other books or their youtube channel or sign up for their weekly digest!
The book begins with a quick introduction on the philosophy of borrowing vs. spending vs. saving and investing. The initial chapters have some valuable general advice (like car buying and running a part-time business, for example). But the main content is all about sound investing principles, facts and strategies. The book also discusses enough about taxes, which a lot of investing books seem to just skim or totally ignore. There is also enough material covering how to manage one's emotions when investing. I found some of the material to be like "Ben Graham Simplified".
This is one of the very few books that has the guts to not lick the boots of network marketing businesses. (I have personally wasted a lot of my time and money in one such business.) Most other "success authors" would like to sell their books to network marketing businesses in bulk, so they mostly praise some company or the other. My personal experience coincides with those of the authors in that you are better off financially by staying away from network marketing businesses. If you are business-minded, the authors recommend running a business you are really passionate about which coincides with your interests, education and/or experience. Couple the income you produce from your job and/or business with the investing principles explained in this book, you will have a solid plan and a financially successful life!