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How seriously are you going to take this? If the answer is "seriously", then Benjamin Graham's The Intelligent Investor is a pretty good follow up if you've already read A Random Walk.
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 :)
I was in a similar situation in my early 20's but yours is tougher. I believe the best thing you can do right now is to increase your income as much as you can. The more you earn, the more you can invest. Go abroad if you have to. Salary levels in Pinas are shit. In my case, I accepted more and more freelance (programming) work from abroad and eventually quit my corporate job. I started with about $11/hr and was able to find a good and stable client willing to pay $30/hr after a couple of years. That was last decade. You may be able to get more now.
For investing, please start with reading The Intelligent Investor. It's worth it even if you eventually go with a different investing philosophy. I can only honestly recommend managing your own stock (and other assets, if you want) portfolio. If I went with funds, the value of my investments would've been worth just 10 to 15% of what they are now. But there's no guarantee that the same performance can be replicated, so you really have to find what works for you. I graduated with no honors so you're probably smarter than me. I'm sure you can do this :D.
You should absolutely look into how it is invested. If you want to just do the least amount of work, look to see if there are any target date funds with expense ratios less than .2 and invest everything in the fund with the year that you want to retire. If you want to get more into it, I highly recommend the Bogleheads Guide to Investing as a very beginner friendly book that will give you the tools you need to pick funds for yourself (or maybe even decide that the target date fund is your preference).
> Incompetency. Watching these "technologies" develop has been like watching the first organism crawling out of primordial oceans all over again. In terms of rediscovering the past errors of technology and economic behaviour.
Oh boy you would enjoy part of /u/dgerard's book Attack of the 50 foot blockchain where he dives into the wonderful world of blockchain-based incompetency. To wit, my favorite two examples:
> * Bitomat, then the third-largest exchange, were keeping the whole site's wallet file on an Amazon Web Services EC2 server in the cloud that didn't have separate backups and was set to "ephemeral," i.e., it would disappear if you restarted it. Guess what happened in July 2011? Whoops
> ...
> * AllCrypt ran their exchange off a MySQL database ... and were running WordPress on the same database, and their WordPress got hacked such as to allow access to the exchange data. The same thing happened to Bitcoin lending startup Loanbase.
The book: https://www.amazon.com/Attack-50-Foot-Blockchain-Contracts-ebook/dp/B073CPP581
Three-fund portfolio, as explained in this fantastic book.
Read The Boglehead's Guide to Investing. Don't listen to anyone suggesting stock-picking strategies. Especially not gurus who "got rich" from picking stocks.
This is an old book but I believe this is where everyone starts with value investing, Benjamin Graham, The Intelligent Investor: https://www.amazon.com/dp/B000FC12C8/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 Or try the sub r/investing not WSB, GL!
Their book Lifecyle Investing explains it a lot better than reading the academic paper: https://smile.amazon.com/Lifecycle-Investing-Audacious-Performance-Retirement-ebook/dp/B003GYEGK2/
Do you want me to ELI5 Lifecycle Investing or Hedgefundie's Strategy, or both?
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.
cheers! Preorders are up on Amazon too. (Available worldwide.) The current draft is kinder to Ethereum than previous drafts, but gets stuck into smart contracts a lot more. /u/vbuterin's comments over on /r/Buttcoin greatly improved the Ethereum section.
I'll suggest another way that the new generation should invest: Leverage
Read this book from two Yale economics professors about using leverage in your youth to ACTUALLY LOWER YOUR RISK.
https://www.amazon.com/dp/B003GYEGK2/ref=cm_sw_r_cp_apa_7-FlFbCVJJSEM
That's right, you young bucks. Borrow and put it in the market.
But don't be an chump and just yolo. Learn, grow, dominate.
I think it depends highly on what is your knowledge and background. Generally I would something that talks about how to form trading strategies and about trading psychology. One such best-seller in amazon is "How to day trade for a living" (https://www.amazon.com/How-Day-Trade-Living-Management-ebook/dp/B012C4AU10). Bear in mind that understanding day trading doesn't require you to do day trading as a profession. But I've found this kind of knowledge to be invaluable when doing any kind of trades especially with cryptos where trading psychology is super, super important to grasp.
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.
Best $10 audiobook out there.
This is the author.
It is what you need to prepare for when you finally get to your number.
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.
If I may, I really like the Boglehead's Guide to Investing as a good all-rounder book that'll help you through your investment journey about what to pay down, how to invest, withdraw, and live off of your investments.
I liked the book so much I bough a copy for each of my family members and I've even loaned the book to several of my friends who have been using the knowledge from the book to help them setup their financial future. I started reading the second edition they put out the other day until a friend asked if he could borrow it to have one of his employees read as he wanted to give her some direction in investments.
No it's not. Anything that can be done with blockchains can be done better and efficiently by other means.
Blockchains are still an answer looking for a question
This book goes into details about all the claims made by blockchains and it puts the technology into perspective. The technology is nothing special, it is just a very inefficient method of distributed databases. And many of its features that distinguishes are actually pretty bad for any business or human institution
https://www.amazon.com/Attack-50-Foot-Blockchain-Contracts-ebook/dp/B073CPP581
With the assumption that you don't have significant investing experience or interest in spending a lot of time on investing, I strongly suggest you read this book: The Simple Path to Wealth: Your road map to financial independence and a rich, by JL Collins. Link below.
Simply invest in an index fund and a bond fund, rebalance yearly and you are on auto pilot for life. I've done Monte Carlo analysis on this strategy with a 4% annual rate and the outcome is a 99.5% success probability over a 60 year span.
If your interests or skill set changes over time, you can always change how you invest money.
Passive investing coupled with your very successful small business is a great strategy ... you get to focus on the thing you are best at.
Congrats on your great financial success!
Hi OP, i would recommend you to read this book to start with getting some fundamental knowledge on investing in a Singapore context: Rich By Retirement: How Singaporeans Can Invest Smart and Retire Wealthy It is a short read, and covers most of the advice already given by people here in more depth.
I think you are right.
I also think this book:
https://www.amazon.com/Attack-50-Foot-Blockchain-Contracts-ebook/dp/B073CPP581/
is the most honest fundamental view.
I also think that even Algorand was implemented as a ponzi-scheme ( holding back much, so the original cartel would make money later ), but that the Algorand technology is the sanest one around, for a digital-currency,
& I also think that stock-ownership should be on a modified Algorand-style blockchain ( ownership constraints added, e.g. ), as should accounting-records ( making it impossible for a single-computer-failure within a business to wipe-out all the accounting-records, or for a missing backup to do that, either ).
The blockchain can be a useful technology, but selling bubblegum-wrappers isn't what an economy is built on, & NFT's are the economic equivalent to bubblegum-wrappers, to me.
Imagine, however, using blockchain to record who bid what, in an auction-to-house-a-real-work-of-art-for-1-season arrangement:
then real art would be moving around, for real economic benefit ( visitors to that museum ), & the bids would not be deniable...
that would be actual economy standing on blockchain...
Whatever: just the opinions of an old geek, is all!
🙏
I always suggest readingThe Simple Path to Wealth by JL Collins. It's a fantastic Boglehead read targeted at young investors.
Same content as his Stock Series blog but easier to digest. Also suggest the audible version. His voice is like butter. 😂
For budgeting, I use mint, it's a free app.
A good book for longer term planning is https://smile.amazon.com/Simple-Path-Wealth-financial-independence-ebook/dp/B01H97OQY2/ref=tmm\_kin\_swatch\_0?\_encoding=UTF8&qid=1660765509&sr=8-1
> At the end of the day people that dismiss it just don’t want to / have the time to invest I. Understanding a new asset class.
I mean this guy who wrote a 2 hr 20 min documentary about why crypto is all shit:
Or this publisher of multiple books on why it's shit:
https://www.amazon.com.au/Attack-50-Foot-Blockchain-Contracts-ebook/dp/B073CPP581
Clearly weren't lacking in time or desire to understand it.
Blockchain isn't interesting at all. I used to hold essentially the same view as your comment, but then I read Attack of the 50 Foot Blockchain and realized the blockchain is dumb af.
The blockchain is at best completely pointless, and at worse it has major flaws which make it unsuitable for practical application. It's a solution looking for a problem, and everything people claim it "solves" we already have better tech for. A large part of the reason anyone thinks it's useful is part of a concerted marketing effort by cryptobros.
JL Collins in The Simple Path to Wealth would say the addition of international exposure isn't worth the risk. I disagree with him as I feel he has an extreme home country bias philosophy. But he's also a few decades older than I am and probably wouldn't benefit from changing his plan.
I believe investing in US only equities places me in greater risk if the US were to experience a unique regional catastrophe. I gladly accept that I'm taking on more risk investing in EX-US and willing to take lower returns for the piece of mind it gives me.
For me this is where Personal Finance is personal.
I was where you're at to years ago, at the age of 42! You're ahead of most. The knowledge will come. I suggest giving The Simple Path to Wealth a read or listen. It will cover most of the basics. Just keep an open mind on international index funds.