The Bogleheads' Guide to the Three-Fund PortfolioHow a Simple Portfolio of Three Total Market Index Funds Outperforms Most Investors with Less Risk
Twenty benefits from the three-fund total market index portfolio. The Bogleheads’ Guide to The Three-Fund Portfolio describes the most popular portfolio on the Bogleheads forum. This all-indexed portfolio contains over 15,000 worldwide securities, in just three easily-managed funds, that has outperformed the vast majority of both professional and amateur investors. If you are a new investor, or an experienced investor who wants to simplify and improve your portfolio, The Bogleheads’ Guide to The Three-Fund Portfolio is a short, easy-to-read guide to show you how.
FOREWORD BY JOHN C. BOGLE xi PREFACE: THE HISTORY OF THE BOGLEHEADS’ THREE-FUND PORTFOLIO xvii ACKNOWLEDGMENTS xxv CHAPTER 1: THE INVESTMENT INDUSTRY 1 CHAPTER 2: JOHN C. BOGLE—THE INVESTOR’S BEST FRIEND 5 CHAPTER 3: JOHN BOGLE INTRODUCES THREE TOTAL MARKET INDEX FUNDS 9 CHAPTER 4: TWENTY BENEFITS OF TOTAL MARKET INDEX FUNDS (IN NO PARTICULAR ORDER) 13 Benefit1: No Advisor Risk 14 Benefit2: No Asset Bloat 17 Benefit3: No Index Front Running 19 Benefit4: No Fund Manager Risk 20 Benefit5: No Individual Stock Risk 22 Benefit6: No Overlap 24 Benefit7: No Sector Risk 25 Benefit8: No Style Drift 26 Benefit9: Low Tracking Error 27 Benefit10: Above-Average Return 28 Benefit11: Simplifi ed Contributions and Withdrawals 32 Benefit12: The Benefitof Consistency 33 Benefit13: Low Turnover 34 Benefit14: Low Costs 35 Benefit15: Maximum Diversifi cation (lower risk) 38 Benefit16: Portfolio Effi ciency (best risk/return ratio) 39 Benefit17: Low Maintenance 40 Benefit18: Easy to Rebalance 41 Benefit19: Tax Effi ciency 42 Benefit20: Simplicity (for investors, caregivers, and heirs) 44 CHAPTER 5: GETTING STARTED 49 CHAPTER 6: STAY THE COURSE 59 APPENDIX I: WHAT EXPERTS SAY 63 APPENDIX II: MEET THE BOGLEHEADS 69 GLOSSARY OF FINANCIAL TERMS 75 INDEX 79
TAYLOR LARIMORE is a sage on the Boglehead forums for everyone who wants to discover "the Boglehead way." Crowned the "King of the Bogleheads" by Jack Bogle, he has spent more than seven decades in finance and investing, in such positions as revenue officer for the IRS, chief of the Financial Division for the Small Business Administration in South Florida, and a director of the Dade County Housing Finance Authority. He is co-author of The Bogleheads' Guide to Investing and The Bogleheads' Guide to Retirement Planning.
Investing doesn't need to be complicated. In fact, there's a lot of data and analysis showing the most profitable portfolios are the simplest. Taylor Larimore is recognized as a bona fide expert on Jack Bogle's low-cost, buy-and-hold investment strategy. He's substantially grown his own portfolio and shown many others how to do the same based on Bogle's philosophy, and in The Bogleheads' Guide to the Three-Fund Portfolio, he shares the blueprint to his personal approach to index investing approved by Jack himself. This groundbreaking guide in the Boglehead series offers the most straightforward system for developing an indexed portfolio that will outperform actively-managed ones over time. Through step-by-step explanations, it shows you how to ensure your financial security by investing in the three market index funds—U.S. stocks, non-U.S. stocks, and U.S. bonds. The key to capturing the most return with this strategy lies in allocation, and the guidance inside offers an illuminating depth of coverage on the nuanced ways to balance a portfolio based on your age, income, goals, tolerance for risk, and personal comfort level with volatility. For people just entering the workforce as well as those closing in on retirement, this single resource ensures a brighter financial future by enabling you to: Eliminate a large handful of risks associated with other investing methods, including manager choice, individual stock and sector vulnerabilities, tracking error, and more Avoid the most common ways investors lose money trying to make it, including stock picking, market timing, useless newsletters, and expensive advisors Prepare yourself to invest real money by hearing from a diverse collection of everyday investors successfully using the approach, including model allocation strategies and tips Follow the simple path to financial security in The Bogleheads' Guide to the Three-Fund Portfolio.
"Simple. Powerful. And unbeatable. Read it, execute it, then retire in comfort and sleep like a baby." —William J. Bernstein, bestselling author of The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between Discover How Focused Investing Can Lead to Tremendous Financial Growth The Bogleheads' Guide to the Three-Fund Portfolio shows you how to get better returns than the majority of professional advisors with just three index funds and a buy-and-hold strategy. Sound too good to be true? Not to the legions of investors who have already amassed fortunes following the philosophy of iconic investor and founder of The Vanguard Group, Jack Bogle. Whether you want to start investing or need better returns, this comprehensive guide walks you step-by-step through determining the proper allocation of your assets, choosing smart investments, and managing your portfolio over time—without losing sleep or money! In his inspiring Foreword, Jack puts his seal of approval on this powerful and easy-to-use resource, which provides: A five-step solution to securing wealth in Bull and Bear Markets Actionable plans for capturing more market returns than many professional investors Insights and commentary from celebrated and everyday Boglehead investors Discover the stress-free approach to reaching your financial goals with The Bogleheads' Guide to the Three-Fund Portfolio.
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