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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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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Originally posted by Dont_know_mind View PostJack 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
Originally posted by Bev View PostAny 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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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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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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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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Originally posted by VagabondMD View PostI 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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