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Bernstein's Recommended Reading

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  • #16
    I really enjoyed the millionaire books. They illustrate how attaining a comfortable net worth is so much more important than displaying the trappings of a high income. These books made me see this concept.

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    • #17
      out of that list definitely read:
      The Millionaire Next Door by Thomas Stanley and William Danko
      Common Sense on Mutual Funds by Jack Bogle
      Your Money and Your Brain by Jason Zweig
      How a Second Grader Beats Wall Street by Allan Roth
      All About Asset Allocation by Rick Ferri

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      • #18
        Any of the Bogle books are great.

        Also, I really like books written by Mike Piper. His book (and calculator) on Social Security actually saved us from making a poor decision.

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        • #19
          Originally posted by Dont_know_mind View Post
          Jack Bogles books are great, particularly the little red one.
          Most of Bogle’s interviews on YouTube are excellent.

          I’ve just started reading Bogleheads forum seriously recently. It is excellent.
          This is a great thread:
          https://www.bogleheads.org/forum/viewtopic.php?t=30085
          I've added Bogle's The Little Book of Common Sense Investing to my reading list. I'll have to check out his YouTube interviews. Thanks!

          Originally posted by Bev View Post
          Any of the Bogle books are great.

          Also, I really like books written by Mike Piper. His book (and calculator) on Social Security actually saved us from making a poor decision.
          From what I've read and heard of Mike thus far, he's great! I plan on reading his Taxes Made Simple soon.

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          • #20
            THE 4 PILLARS OF INVESTING, RANDOM WALK DOWN Wall Street, THE WINNING INVESTMENT STRATEGY(SWEDROE)
            and THE LITTLE BOOK OF COMMON SENSE INVESTING(BOGLE)
            ALL will say a diversified portfolio of no load low cost stock and bond INDEX FUNDS
            YOUR ONLY REALLY IMPORTANT DECISION-your asset allocation model
            The ACCUMULATION phase is easy

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            • #21
              I see no one has mentioned How to Think About Money by Jonathan Clements, so I'll toss that onto the recommendation list.

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              • #22
                The WCI book is probably the highest yield for a physician. Bogle book for other careers. A lot of overlap and by reading you will see the common themes.

                Spend less then you make (save at least 20%)
                Save the extra and invest in low cost index funds
                Utilize tax advantaged accounts

                Honestly if you do those things you will be fine. Reading and learning will just let you understand the why and how. That understanding will be more important as you get towards the end of your career because as stated above the accumulation phase is easy.

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                • #23
                  3-4 books is ENOUGH to know ALL!!!!!!!

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                  • #24
                    Another book that I enjoyed was Phil DeMuth's 'The Affluent Investor'. I agree that one doesn't need to read a ton of books in the subject area as there isn't really much to it. I have read many because I enjoy the topic but it is definitely a matter of diminishing returns.

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                    • #25
                      I think that The Millionaire Next Door was the most impactful to me of those suggested. If you do not get the behavior down correctly, the other stuff matters very little.

                      The Psychology of Money by Morgan House is one to add to the list.

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                      • #26
                        Originally posted by VagabondMD View Post
                        I think that The Millionaire Next Door was the most impactful to me of those suggested. If you do not get the behavior down correctly, the other stuff matters very little.

                        The Psychology of Money by Morgan House is one to add to the list.
                        I second Psychology of Money. Quick but enlightening read.

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