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06-30-2016, 01:46 PM
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#1
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 293
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Reading material for son
My son emailed this morning and asked if I read any blogs about financial independence. He is young, about 5 years into his career. He contributes to his 401K, and uses a target date fund. This is the first indication of his interest in financial independence and I want to steer him the right way. So, if there was one book and one blog you'd direct your kid towards, would you please share the name? Thanks in advance for any guidance.
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06-30-2016, 01:52 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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Investments by Bodie, Kane and Marcus
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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06-30-2016, 02:12 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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__________________
Numbers is hard
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06-30-2016, 02:14 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 1,225
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If You Can, How Millennials Can Get Rich Slowly by William Bernstein
https://www.etf.com/docs/IfYouCan.pdf
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06-30-2016, 02:51 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2015
Location: Michigan
Posts: 5,003
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Your Money and Your Brain by Jason Zweig.
__________________
"The mountains are calling, and I must go." John Muir
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06-30-2016, 03:03 PM
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#6
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Recycles dryer sheets
Join Date: Apr 2016
Posts: 191
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The Millionaire Next Door by Stanley and Danko
followed by
The Millionaire Mind by Stanley
Classic LBYM texts
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07-01-2016, 09:27 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 1,495
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Send him to the Bogleheads site. Eventually, it will save him years of mistakes.
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07-01-2016, 10:04 AM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,374
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I get bored with most personal finance and investment books, but have been a regular reader of Money magazine for over 30 year and also Kiplinger Personal Finance.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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07-02-2016, 04:30 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: South central PA
Posts: 3,486
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Bogleheads forum. They have a ~ 5 page beginner guide to investing, which printed out and gave to him. Now he's off and running. About half the days when my son is home while job hunting post college, he is reading about investing to understand the terminology. Learning 1-2 things a day about investing will translate to a wealth of knowledge in just a year.
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07-02-2016, 05:40 AM
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#12
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Recycles dryer sheets
Join Date: Mar 2014
Location: Islands
Posts: 363
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 Quote:
Originally Posted by Options
Send him to the Bogleheads site. Eventually, it will save him years of mistakes.
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+1 and read Bogleheads Guide to Investing
https://www.amazon.com/Bogleheads-Gu...e+to+investing
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07-02-2016, 09:07 PM
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#13
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,895
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Instead of a single source, ask him to enter search terms "active versus passive investing". He ought to find a lot of useful info from a lot of diffeent sources there.
-ERD50
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07-02-2016, 09:35 PM
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#14
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Full time employment: Posting here.
Join Date: Jan 2005
Posts: 587
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I second The Millionaire Next Door. I read this book in my mid 20's - I thought it was going to teach me how to get rich quick. Instead it taught me that getting rich is not quick. It really made me want to learn about all things financial and provided me with a realistic investing timeframe before retirement.
Sent from my iPad using Early Retirement Forum
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07-06-2016, 02:52 AM
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#15
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 293
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Excellent suggestions. Thank you. I will share every suggestion and I've ordered for him the book referenced up-thread.
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07-10-2016, 04:49 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Nov 2013
Location: Twin Cities
Posts: 3,941
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Most definitely "The Simple Path to Wealth" just out by JL Collins. He is FIRED himself and wrote it for his daughter as she started her career. It has all the right values folks on this board espouse, including avoiding debt, saving half your income, investing in Vanguard stock index funds, retiring early. It's excellent.
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