The Bogleheads' Guide to Investing

The Bogleheads' Guide to Investing

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Overview

The irreverent guide to investing, Boglehead style

The Boglehead's Guide to Investing is a DIY handbook that espouses the sage investment wisdom of John C. Bogle. This witty and wonderful book offers contrarian advice that provides the first step on the road to investment success, illustrating how relying on typical "common sense" promoted by Wall Street is destined to leave you poorer. This updated edition includes new information on backdoor Roth IRAs and ETFs as mainstream buy and hold investments, estate taxes and gifting, plus changes to the laws regarding Traditional and Roth IRAs, and 401k and 403b retirement plans. With warnings and principles both precisely accurate and grandly counterintuitive, the Boglehead authors show how beating the market is a zero-sum game.

Investing can be simple, but it's certainly not simplistic. Over the course of twenty years, the followers of John C. Bogle have evolved from a loose association of investors to a major force with the largest and most active non-commercial financial forum on the Internet. The Boglehead's Guide to Investing brings that communication to you with comprehensive guidance to the investment prowess on display at Bogleheads.org. You'll learn how to craft your own investment strategy using the Bogle-proven methods that have worked for thousands of investors, and how to:

  • Choose a sound financial lifestyle and diversify your portfolio
  • Start early, invest regularly, and know what you're buying
  • Preserve your buying power, keeping costs and taxes low
  • Throw out the "good" advice promoted by Wall Street that leads to investment failure

Financial markets are essentially closed systems in which one's gain garners another's loss. Investors looking for a roadmap to successfully navigating these choppy waters long-term will find expert guidance, sound advice, and a little irreverent humor in The Boglehead's Guide to Investing.

Product Details

ISBN-13: 9781118922361
Publisher: Wiley
Publication date: 08/04/2014
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 336
Sales rank: 213,469
File size: 1 MB

About the Author

MEL LINDAUER, CFS, WMS, was dubbed “The Prince of the Bogleheads” by Jack Bogle. A Forbes.com columnist, he’s one of the leaders of the Bogleheads community.

TAYLOR LARIMORE, CCL, has been dubbed by Money magazine as “the Dean of the Vanguard Diehards” and John (Jack) Bogle himself calls Taylor “The King of the Bogleheads.”

MICHAEL LEBOEUF, PHD, is an internationally published author, business consultant, and professor emeritus who taught Management at The University of New Orleans.

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Table of Contents

ACKNOWLEDGMENTS xiii

FOREWORD BY JOHN C. BOGLE xv

INTRODUCTION xxiii

PART I ESSENTIALS OF SUCCESSFUL INVESTING

CHAPTER 1

CHOOSE A SOUND FINANCIAL LIFESTYLE 3

CHAPTER 2

START EARLY AND INVEST REGULARLY 13

CHAPTER 3

KNOW WHAT YOU’RE BUYING: PART ONE 25

CHAPTER 4

KNOW WHAT YOU’RE BUYING: PART TWO 39

CHAPTER 5

PRESERVE YOUR BUYING POWER WITH INFLATION-PROTECTED BONDS 49

CHAPTER 6

HOW MUCH DO YOU NEED TO SAVE? 63

CHAPTER 7

KEEP IT SIMPLE 75

CHAPTER 8

ASSET ALLOCATION 89

CHAPTER 9

COSTS MATTER 109

CHAPTER 10

TAXES: PART ONE 119

CHAPTER 11

TAXES: PART TWO 131

CHAPTER 12

DIVERSIFICATION 143

CHAPTER 13

PERFORMANCE CHASING AND MARKET TIMING ARE HAZARDOUS TO YOUR WEALTH 153

CHAPTER 14

SAVVY WAYS TO INVEST FOR COLLEGE 169

CHAPTER 15

HOW TO MANAGE A WINDFALL SUCCESSFULLY 179

CHAPTER 16

DO YOU NEED AN ADVISOR? 187

PART II FOLLOW-THROUGH STRATEGIES TO KEEP YOU ON TARGET

CHAPTER 17

TRACK YOUR PROGRESS AND REBALANCE WHEN NECESSARY 199

CHAPTER 18

TUNE OUT THE “NOISE” 211

CHAPTER 19

MASTERING YOUR INVESTMENTS MEANS MASTERING YOUR EMOTIONS 223

CHAPTER 20

MAKING YOUR MONEY LAST LONGER THAN YOU DO 235

CHAPTER 21

PROTECT YOUR ASSETS BY BEING WELL-INSURED 243

CHAPTER 22

PASSING IT ON WHEN YOU PASS ON 257

CHAPTER 23

YOU CAN DO IT 265

APPENDICES

APPENDIX I: GLOSSARY OF FINANCIAL TERMS 273

APPENDIX II: BOOKS WE RECOMMEND 279

APPENDIX III: FINANCIAL WEBSITES WE RECOMMEND 283

APPENDIX IV: VANGUARD ASSET ALLOCATION QUESTIONNAIRE AND PIE CHARTS 287

ABOUT THE AUTHORS 293

INDEX 295

What People are Saying About This

From the Publisher

"Generically, the Bogleheads are folks who admire John Bogle, founder of the Vanguard mutual fund company . . . So, why did they write this book? Probably for a little ego boost. Also, perhaps, to share a lifetime of accumulated knowledge, to help other people achieve their financial goals, and to leave the world a slightly better place. Are these guys nuts,or what? Anyway, they did a good job. This is definitely a book for beginning investors, but the facts are solid, the advice almost impossible to argue with . . . . If you're looking for a financial book you can trust, we can't think of a better candidate than this, except possibly for one of the books by the Master (i.e., John Bogle) himself. If you want to get started investing, if you need a new investment plan, or if you'd like to validate an existing plan, we suggest that you sit down, read this book, and trust what you read. How rare is that?"
—Roy Weitz, FundAlarm.com (December 2005)

"The chief Boglehead is Taylor Larimore, 81, a former official at the Small Business Administration . . . He and a few other Vanguard fans started the Diehards forum in 1998. Now Larimore and two other longtime Diehards—Mel Lindauer, 67, a retired owner of a graphic arts business, and Michael LeBoeuf, 63, a former management professor—have written The Bogleheads Guide to Investing . . . . The book’s main themes should come as no surprise. In his own writing, Bogle emphasizes diversification, low costs, and index funds; here, his followers try to make those notions graspable for beginners . . . . Also, unlike most investing authors, the Bogleheads offer advice on topics from taxes to insurance to estate planning ."
Penelope Wang, MoneyMagazine (January 2006).

"The new "Bogleheads Guide to Investing!" Gotcha! A must-read!"
Paul Farrell, Marketwatch.com

"If you master the concepts laid out in this book, you'll do very well."
—Reuters News

"'The Bogleheads' Guide' is both a textbook for beginners and a refresher course for old hands. It blends elements of financial-planning primers like 'The Wealthy Barber' with tips on why it pays to be cheap, a la 'The Millionaire Next Door.' ... The Bogleheads march readers smartly through the basics of how much they need to save for retirement, how to allocate their assets and when to rebalance their portfolios. The authors steer through the minefield of taxes and warn neophytes to master portfolio-gutting emotions including greed and fear."
—James Pressley, Bloomberg.com

“If you are looking for a simplified and methodical do-it-yourself guide that will enable you to manage your investment portfolio, this is the book to turn to.”
The Economic Times

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The Bogleheads' Guide to Investing 4.3 out of 5 based on 0 ratings. 10 reviews.
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Guest More than 1 year ago
Many good books have been written on saving and investing but this is one of the best I've read. It is written in simple language and avoids technical jargon that tends to lose readers who are looking for basic knowledge and a plan they can develop and implement. I learned so much that I ordered 12 more copies for close friends. I believe browsing chapters 19 & 23 would be helpful to anyone who might not feel they have the ability to get the most from this book. I always thought investing was complicated but found it can be a do-it-yourself activity. The Bogleheads' Guide is a winner and I would recommend it to readers of all ages who are struggling with understanding the best and easiest way to save and invest for their future.
Guest More than 1 year ago
There are a lot of books out there about investing and managing your money, but this one provides a very simple and easy to understand perspective that all investors can comprehend. The authors have gone to great lengths to make sure that the most uneducated and inexperienced investor can take the advice in this book and use it immediately. This book is more than just how to invest, it describes money management life style changes needed to help someone accumulate wealth.