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Surprised it hasn’t been mentioned yet, but definitely check out the White Coat Investor. Not a physician myself, but have heard great things about the book (4.8/5 with 1,200+ reviews) and understand the forums are very active.
Guys please bump this
I study chart analysis, every day. Open salt of trading view, open the "accumulation / distribution", notice the irregularity.
As the price is going down, accumulation is increasing, My analysis concluded that there is a group or a person accumulating a ton of salt for some reason. People see this coming. By this I mean the imminent pump.
Happy trading! Source (book):A Complete Guide To Volume Price Analysis
> I don't get investments and never owned stock in my life.
Thankfully, it's not too complex or difficult. I'd recommend starting with John Bogle's "The Little Book of Common Sense Investing".
OP, probably not a popular opinion in this sub, but if you want to beat the majority of investors and have the most likely path to a healthy retirement, look into index funds. This book by Jack Bogle, the founder of Vanguard, lays out incredible evidence on top of evidence on top of evidence that the way to make the most money in investing is via index funds. My comment may get downvoted in this sub, but do some reading and decide for yourself :)
"3 fund" is a straightforward Boglehead portfolio.
https://www.bogleheads.org/wiki/Three-fund_portfolio
https://www.amazon.com/Bogleheads-Guide-Three-Fund-Portfolio-Outperforms/dp/1119487331/
The second link is a thin 100 page book written by a nonagenarian who followed John Bogle's advice and became one of the first Bogleheads.
The side bar here is pretty good.
This is also a pretty fantastic and easy read: https://www.amazon.com/Little-Book-Common-Sense-Investing/dp/0470102101
It’ll cost you like 10 bucks and by the end, you’ll have the info needed to make a basic portfolio.
Translation: Researchers read Jack Bogle's The Little Book of Common Sense Investing which already contained decades of research on this topic. Next they wrote a paper and put this year's date on it. 😄
"If You Can" is the best cheaply-available primer on index investing - the likeliest, easiest, and safest way to make money on the stock market. Google "If you can book" and it should pop up, or go here to buy it for a dollar https://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI. Some people have uploaded it for free, too, if you search for it.
10x is really crazy
The conservative value that is likely to be achievable with low risk is 7% per year, as that is the average increase of the market for the last decades
And even that isn't risk free
https://www.amazon.com/Little-Book-Common-Sense-Investing/dp/0470102101
This might be a good starting point to manage your expectations
And just because it has a average if 7% per year, that accounts for years that are very much above 7% and years that go into negative values
Nothing guarantees that you won't invest your money and immediately lose most of it
It'll be easier for you to earn 1800 for your mother than 2000
Leave the investing for something that can wait more than a few months
Tldr: just put it in a low cost index fund. It's that simple, everyone thinks they beat the market but in reality the chance of you picking the right actively managed fund or even more miraculously pick single stocks that beat the market are not good.
I was in your shoes not too long ago.
Here’s one short book that pretty much tells you everything you need to know about investing:
https://www.amazon.com/Little-Book-Common-Sense-Investing/dp/0470102101
Importantly, it’s unbiased and the author isn’t selling you anything.
If you’d like the summary, here it is: stock picking doesn’t work, 95% of fund managers underperform the market, you’re best off investing your money into a low cost index tracker such as Vanguard S&P500 fund.
Yes, it’s boring and simple but you’re guaranteed to beat at least 95% or so of all professional fund managers. I call that winning!
https://www.amazon.com/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
Jack Bogle's Little Book of Common Sense Investing is the right place to get started. Dave Ramsey is great for beginners too, but he preaches a hard line on some things that aren't necessarily true at all income levels.
I don't like Guides - as most of them are biased or tilted towards their own skewed opinions of what delivers the most returns.
I would strongly recommend reading this book: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
It will explain everything - and what contributes the most to your returns over the years.
I like Bogle's The Little Book of Common Sense Investing and despite the title I Will Teach You To Be Rich, but I'm very quickly out of my depth when it comes to the posts here, so grain of salt and all that. I keep it simple with index funds for me, my wife, and the kiddo's 529.
Yeah, I can appreciate that. You lose some stability with renting no doubt, but you also gain flexibility!
Just wait till your daughter gets a bit older, starts a family etc. You'll be able to land anywhere and be close to your future family. Owning a home is an anchor.
with that 0 percent loan you definitely will be better served investing and paying the minimum. Investing is the tricky part that many get wrong.
I'm not sure how knowledgeable you are on investing but it will make or break your retirement.
I have a book recommendation for you to help you get started:
https://www.amazon.ca/Little-Book-Common-Sense-Investing/dp/1119404509
This book changed the trajectory of my own personal finances and investment/retirement savings.
I am not a personal finance expert of planner, but if you have any questions with any of it feel free to PM me.
Cheers
Read the personal finance wiki and a few finance books. Since you’re talking MCAT, definitely get this one:
The White Coat Investor: A Doctor's Guide To Personal Finance And Investing (The White Coat Investor Series) https://www.amazon.com/dp/0991433106/ref=cm_sw_r_cp_api_glt_i_R8CC3B8VTKEYEDTMZAC3.
Also read up on the boglehead 3 fund portfolio, which would actually just be two funds for someone your age:
1) Total US Market (e.g. VTI)
2) Total non-US (e.g. VXUS)
I’d split my money between the two 75/25 and just keep adding money whenever you can.
What I would do is read this: https://www.amazon.co.uk/Little-Book-Common-Sense-Investing/dp/1119404509/ - The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
And this: https://www.amazon.co.uk/gp/aw/d/0060555661/ - Intelligent Investor: The Definitive Book on Value Investing
Then sell them all and start again after formulating my plan based on my new knowledge.
Read this book ASAP. Join the Boglehead forum (google search). In short, low fee index ETF index funds or equivalent vanguard funds (according to what I’ve been told they are equally tax efficient)
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books, Big Profits) https://www.amazon.com/dp/1119404509/ref=cm_sw_r_cp_api_glt_fabc_P6GBXWQ0TZW5PKQY3D9R
I always recommend The Little Book of Common Sense Investing by John Bogle and, despite its title, I Will Teach You To Be Rich by Ramit Sethi.
Bingo bango, you're on the right track.
Three funds comes out to US, International, and Bonds. It's up to you to decide your risk tolerance.
This one is a great read to get you introduced to the idea of using Index funds weighted for market caps, and why it's better than the average investor in the long run.
VTI and VXUS are Vangaurd funds. You are correct, VTI is US and VXUS is international. If you want to make it real easy and follow Vanguard's weighting, just buy VT. It's a total market index, weighing about 60% US, 40% International. If you wanted more control, but to follow the lead, then buy 60% VTI and 40% VXUS.
Bonds are pretty much up to risk tolerance and personal preference. A lot of younger folks don't even touch bonds until they're about 20 years out from retirement. I'm 33, and currently hold about 10% bonds because I'm a bit more conservative than some of those cats.
I use Fidelity as my brokerage, so I use their mutual funds instead of ETFs. This is mostly six of one, half dozen of the other. If you've got other banking services at chase, might as well keep your investments there too.
Once you've selected some Index Funds you like, the important thing to look for is the expense ratio. The lower the ER, the more money you get to keep.
You need to look at more that just the performance. It is critical that you also factor in the fund fees, which can accrue into a lifetime loss of tens of thousands of dollars that you lose to the 401k managers. In many cases, it's best to just throw 100% into an Index Fund with low fees, and let the market do the work. Especially at your age. Slow and steady growth always beats outs fund managers who charge higher fees for their funds, and statistically speaking, rarely beat the S&P 500. Why pay higher fees to managers who can't even beat the market? An index fund that tracks the S&P 500 or other index fund typically has very low fees, since there is no middleman to make bad picks for your fund. Check out John Vogel's books. He's the founder of Vanguard, and makes tons of sense. I wish my employer had our 401K with Vanguard instead of Fidelity. https://www.amazon.com/Little-Book-Common-Sense-Investing/dp/0470102101
If you’re new, read this book. You aren’t buying equities from a company, but from other individuals or institutions who hold the equities. The brokerage is just there to help arrange the sale (it’s more complex than this). The market decides the price of the ETF, not your brokerage.
You can certainly make more money with a concentrated position in a single stock, but you also have to be comfortable with higher risk. At your age I’d simple recommend a 100% equities, no bonds portfolio. Just buy the index and don’t look at it for 5 years and let compounding do the work. It’s more about setting the right investing habits at your age than trying to get rich off of $1K. I’d recommend starting with Jack Bogle’s book titled “The little book of common sense investing.” https://www.amazon.com/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
It’s an easy read and a good primer by the godfather of Index investing.
I highly recommend this book: https://www.amazon.com/Common-Sense-Mutual-Funds-Anniversary/dp/0470138130
It is no nonsense and BS. A lot of info out there will sugar coat the market, acting like everyone can beat the market if they wanted, but that isn't true. This book lays investing itself out straight so you can understand it at its core. It goes into great detail, so it isn't a quick read or cliff notes version, but at your age, you can take you time and read the book in little bits. Take a year or more to if you need, but it is a great reference book to have on hand.
VUSA is an sp500 low cost etf in gbp. Depending on his risk appetite and how soon he needs the money he could mix it with VAGP which is Vanguard Global Aggregate Bond etf, also low cost.
I currently have 100% VUSA in my ISA.
I strongly suggest reading this book by John Bogle, the guy who invented index trackers.
Some people suggest going into a world tracker instead of a 100% US one like vusa. If you feel that the US will stop performing as they have then have a look into this other book.
I personally don't think that the world is gonna switch gears soon, hence my bet on the US market.
The book which had the biggest influence on me and changed my view on Investing was from John Bogle, Father of index funds.
This is the one and only one book on index investing you require ;-). Little book of common sense investing. Its the number one best seller in mutual fund investing over amazon.
He has written many other books too which you can slowly digest one by one.
choose a low cost index fund and let it sit there for 30 years. to do that, you'll have to follow Aerodye's advice :) Suggest "how a 5th grader beats wall street", this is the book that most impacted me financially. also if "If you can" by Bernstein gives a roadmap to an excellent basic financial education
https://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI
also, consider giving some to a charitable cause. when we give, we get.
Buy this book - The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle (the inventor of index fund)
Don't take it personally. You also don't want her blaming you if your good advice leads to bad outcomes (strategy and end result don't always correlated, due to luck/timing).
I'd suggest getting her Bogle's "The Little book of common sense investing" and Davidson's "What your Financial Advisor isn't telling you"