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Check out Vanguard. Either go to their website, check out bogleheads.org, or read The Bogleheads' Guide to the Three-Fund Portfolio: How a Simple Portfolio of Three Total Market Index Funds Outperforms Most Investors with Less Risk https://www.amazon.com/dp/B07DH1QYJK/ref=cm_sw_r_cp_apa_i_dQVaCbKQVD1VD
Easy peasy.
I seriously think that every med student should read The White Coat Investor at some point before residency. It's a pretty quick, well-organized, and extremely useful read on how to manage finances going into residency and beyond. So many doctors devote everything they have to medicine, but don't understand how to manage the unique financial circumstances that go with it (e.g. high debt burden, guaranteed high income potential as an attending).
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 :)
From the article:
> "I started thinking about writing a book in early 2017 because all my family and friends were coming to me for financial advice," she says. "I also began to wonder, well, why aren't they reading books or learning on their own? [...] And that's where the idea for 'Money Honey' came from."
So, yep, exactly.
I seriously think that every med student should read The White Coat Investor at some point before residency. I know this isn't quite what you were asking for in terms of maintaining clinical knowledge, but it's a pretty quick, well-organized, and extremely useful read on how to manage finances going into residency and beyond. So many doctors devote everything they have to medicine, but don't understand how to manage the unique financial circumstances that go with it (e.g. high debt burden, guaranteed high income potential as an attending).
"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.
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.
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.
All information is available online, but I like books, because they are structured. I read this book and I think it covers all basics you must know. It's short and doesn't go too deep into details. I think it (or something similar) can be a good start for you.
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.
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.
to be honest, if you're having such a worry, you're obviously not suitable to hold individual stocks regardless of the amount of time and effort poured into research.
What you should be doing is holding the entire market through an irish domiciled etf that buys the SP500 index and build your portfolio from there.
Low Tax and fees should be the top priority in your mind as a recent investor.
It's not as exciting as when NVIDIA announces a new GPU and their stocks skyrocket but by having an ETF which holds the entire market your position will not be as volatile and you do not need to worry about how bad your individual positions get. As the market grows, your ETF grows. DCA into these 20 years and you'll thank yourself for sticking through both good and bad times.
20 years of holding individual positions just cause some say these big name companies are good can just be as bad cause you don't know what's gonna happen. They don't even have a crystal ball to prove it to you.
I see some people recommending call options here. You just started investing. Unless this is money you're willing to burn, this should be a no no for you.
You should also start with this to get what I just summarised above: https://www.amazon.com/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
Probably an unpopular opinion in this sub, but with time I’ve grown convinced that the best investment approach is this one: https://www.amazon.ca/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
Just invest + forget.
William Bernstein has a great book for young people starting out. I think its exactly what you are talking about. It is called "If you Can." I think it might be free.
The studies that claim that TA can give an edge always restrict this effect to certain time windows when markets are "ineffective". (If you have a counter example I would be interested to read it) Unfortunately we can't know when markets are effective and when they aren't. If you analyze common TA predictors over a very long time period, they lose pretty much all predictive power. Which makes intuitive sense actually, because if for example buying the golden cross would give a consistent 10% return, then everybody would do it and thus negate its effect. There are no infinite money loopholes, every win is somebody's loss (minus annual growth of the market).
>all high frequency trading relies heavily on TA.
Do you have a source for that? I would be interested to read it. I would imagine that state of the art algorithms feed historical price info into their models, among many other variables, but to say that they employ TA would be a stretch if we compare that to rather simple trading rules such as crossing moving averages.
Hedge funds and investment banks have a bad track record of beating the market. The bottom line is, if you expect to beat the market on a consistent basis by using TA you will most likely be disappointed. Of course, you can always get lucky. It is easy to find examples of investors who made a lot of money using TA. But this is survivorship bias and does not mean that it works.
If I may suggest a book that helped me (among other) to develop an intuition around this: The little Book of Common Sense Investing. It makes the case for index investing and challenges the idea that trying to beat the market is a worthwhile pursuit.
I also strongly recommend John Bogle’s investing book. He was the chairman of Vanguard and basically invented most of the index fund industry. Once you understand what he did and the basic concept behind it, you will realize that 90% of what passes for investment knowledge is usually a waste of time.
I guarantee this book will generate returns of about 10,000%. https://www.amazon.com/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
Check out Money Honey. It’s down to earth and fun to read. But TL;DR:
1.) save an emergency fund 2.) invest in a simple maybe 60/40 domestic international index split like $VTI/$VXUS 3.) consider real estate. You could buy a duplex. Live in half, rent the other 0 mortgage and maybe some net 4.) Budget like you never had this money e.g. immediately pay yourself forward by putting it somewhere you won’t be tempted to take it out, as in your IRA your 401k your HSA and then your brokerage accounts.
The S&P500 index is a collection of 500 American companies - as judged by the Standard & Poors Company.
The index is the collection of companies.
You can read more about the index fund and why it’s touted by investors (such as Warren Buffett) to be the most hassle free investing vehicle.
Here is a link for further reading.
Here is a book written by the found of Vanguard (John C. Bogle) on why you should use index funds.
Valuing insurance companies is a specialized skill involving evaluating risk exposure. Warren Buffett did this. I wouldn't recommend investing in an insurance company unless you are willing to acquire this skill. The safest thing is to buy a broad market fund. Read this book.
As a programmer, I want to understand all important areas of programming. That is why I am reading about cryptocurrencies. I want to understand the technology. And if I happen to find a sensible investment, I would buy it, but I am not holding my breath. But just from what I have read, I could design a sensible cryptocurrency indirectly backed by a world stock market ETF through an ethereum contract. This would be financially equivalent to owning the ETF in the worst case of no traction, but would be much better than the ETF if it gained traction. Anyway, I am tired of writing up good ideas and having them ignored, so I probably won't bother.
At 14 you have time on your side, you should start investing in your own financial literacy. Start off by reading this book. It will give a good idea of the stock market and will promote exchange traded funds (ETFs) with low expense ratios. If you want to get even more in to stocks get a copy of the Intelligent Investor and Security Analysis. Both are by Benjamin Graham.
Unfortunately. I don’t know anything about Australian tax law, retirement accounts, or what applications are available for trading. To better address this question, I suggest finding someone with specific knowledge on Australia and reading a well respected book on investing aimed at Australians.
Just an FYI that Kiyosaki is a two bit huckster and Rich Dad Poor Dad is made up trash that is meant to get you to buy into his real estate business. You can find much better personal finance info in Jack Bogles The Little Book of Common Sense Investing or JL Collins Simple Path to Wealth.
>he little book of common sense investing
is it this one here ? - https://www.amazon.com.au/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
I'm currently doing a free giveaway of my book on Amazon. It's called Millennial Millionaire and outlines how I became a 28-year-old millionaire and how others can follow the same path:
- How to increase your income by 50% or more, with precise steps and scripts to land raises, promotions, and better jobs
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1st priority needs to be the match next month.
2nd, she needs to focus her attention on her training/residency. (Please don't buy a house. Please, please, please!)
3rd, paying off those loans. She's has more than average (average med school debt is ~$200k), but still manageable if you guys are smart about it.
Read The White Coat Investor. It will help you a ton!
Somewhere around 9th or 10th priority is playing the churning game.
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I know this isn't the advice you were asking for, but please listen to old Dr. highway22.
Even though bonds are more mathematical in nature, it's still easy to misinterpret how they function as investment products. It would probably not be a bad idea to pick one up before investing too far into a specific plan.
A good example is the idea of duration. Most online material simply refers to duration as the amount of risk and potential loss/gain due to rate shifts. This isn't necessarily wrong; but I prefer thinking of it more as the amount of time it would take to recover from the shift. When a bond goes down in value, its effective yield also increases; that also means that as I receive coupon payments, I can reinvest them at this higher yield as well. After a period of time, the increased coupon payments catch up with your losses and you are "whole" again, but you are now receiving payments at the higher rate. So, duration can also represent the length of recovery time.
In the case where I would be looking at a ~5 year plan with intention to still hold bonds after that period, I would not be too terribly concerned about holding a bond fund with a 2 year duration. My total outlook is certainly farther than that (some expenses spread between 0-5y and then some remaining for "perpetual" investment) and I have time to recover.
I read this book over the course of a couple days and felt it served well as a good enough education for my needs. Nothing terribly shocking, but understanding enough that eventually got me over my personal concerns with low interest rates. At the same time, I'm sure there are plenty similar ones you can find free in a library.
I just finished listening to this book on audible. It was a quick listen and explained IV and the Greeks and even some basic strategies. I found it very helpful. I’ve only been buying calls and puts but this makes me a bit more confident in selling options now.
https://www.amazon.com/Options-Trading-QuickStart-Simplified-Beginners-ebook/dp/B01DSKA0E4