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Author: kelly316 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76421  
Subject: retirement investment tips? Date: 5/20/2004 1:51 AM
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Okay, I've finally come to the age when I really need to think about retirement plans. I know absolutely nothing about options and the advantages/disadvantages of each. Would someone point me in the direction of either some websites or books so I can educate myself? Something easy to read please, like I said, I know nothing!
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Author: wcfenton Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41072 of 76421
Subject: Re: retirement investment tips? Date: 5/20/2004 2:28 AM
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kelly316...

Okay, I've finally come to the age when I really need to think about retirement plans. I know absolutely nothing about options and the advantages/disadvantages of each. Would someone point me in the direction of either some websites or books so I can educate myself? Something easy to read please, like I said, I know nothing!
---------

You may want to start here:

http://www.fool.com/school/basics/basics01.htm

An easy to read first book:

"The Coffeehouse Investor" by Bill Shultheis. Available at Amazon.com:

http://www.amazon.com/exec/obidos/generic-quicksearch-query/mot07375793

It's a start!

Regards,
Bill




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Author: 2old4bs Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41076 of 76421
Subject: Re: retirement investment tips? Date: 5/20/2004 8:54 AM
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Here's the link to TMF's retirement center. You will find everything you need to know as an introduction:

http://www.fool.com/retirement.htm?ref=G02A04

After you've digested everything there, then read "The Coffeehouse Investor".

Good luck,

2old


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Author: yobria Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41077 of 76421
Subject: Re: retirement investment tips? Date: 5/20/2004 9:35 AM
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Okay, I've finally come to the age when I really need to think about retirement plans

Ah, congratulations on turning 18! In addition to the good leads provided, read The Four Pillars Of Investing, by William Bernstein.

It's written for the novice investor, and is the best financial book ever written in my opinion. It will pay for itself many times over.

Nick





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Author: jg4 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41079 of 76421
Subject: Re: retirement investment tips? Date: 5/20/2004 3:25 PM
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Nick,

I am just getting toward the end of "Four Pillars". Wish I had read this first. Berstein is interesting and informative to read for novice investors like myself. He does not hold back on his criticism of the brokerage industry, money managers, and many mutual funds and how their intrests are not usually aligned with the client.

However, in my own experience, I have found that some brokers are reasonable to deal with. I have had dealings with Schwab and Merrill where they have given me decent advice. It prevented me from making mistakes which would have resulted in additional fees for them. I suppose I was lucky.

On the other hand, a friend of mine was taken to the cleaners by a broker at Morgan Stanley who had her transfer her company IRA (conservatively invested) to them in a wrap account at the top of the bubble. He invested it rather aggresively and lost about 40% for her. So Berstein's points are well taken.

I haven't yet determined exactly what Berstein's agenda is or if he has one. He makes the case that the reader is very unlikely to beat the market and full time professionals and is better off in index funds, particularly Vanguard. Somehow, this worries me a little. Bogle endorses the book. Bernstein seems to have an investment advisory company. Are they just tooting their own horns?

JG

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Author: yobria Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41082 of 76421
Subject: Re: retirement investment tips? Date: 5/20/2004 4:53 PM
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JG,

Yes, if you know nothing about investing, and are lucky enough to find an ethical and educated broker (many brokers honestly think they're helping you by hopping in and out of stocks vs index funds. They're ethical, just not educated), it's possible for you to come out ahead vs investing on your own.

But investing through a broker will never beat a passive index fund strategy Bernstein recommends over the long term. Brokers are an added cost layer you'll have to pay for one way or another. You'd be nuts to even consider one after reading TFPOI.

Bernstein has no hidden agenda- he's telling you the truth. He recommends Vanguard (and DFA) because they're among the best products out there. People don't always act based on ulterior motives. I've been recommending Vanguard for a long time, too. Does that mean I have an agenda?

Nick

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