Personal Finance Advice/Recommended Reading Forum

[jeteb041]

Hey all! Long-time lurker here; finally made an account so I can get some advice.

Some basic info: I'm entering 2L in the fall at a T-20. I'm kjd and this will be the first time I will be receiving a substantial sum of money from a summer job.
As a result, I wanted to see if there was something I could do with the money I will get this summer, along with the money that I have sitting in my savings account + CDs. I will have around $50k total to invest by August, and it scares me because I have close to 0 money management knowledge/skills. (Really should have taken my personal finance course in undergrad more seriously)

Anyway, I was hoping to finally educate myself and read some books, so I'd really appreciate any recommendations. I don't need the real basics (have basic understanding of the investment options I have), so no "Personal Finance for Dummies" please. That said, are there any books out there with solid advice for a beginning investor?
I'm currently reading The Intelligent Investor, and so far I like it.

I'd also appreciate any advice you may have from personal knowledge/experience. TIA

[ek5dn]

Hey all! Long-time lurker here; finally made an account so I can get some advice.

Some basic info: I'm entering 2L in the fall at a T-20. I'm kjd and this will be the first time I will be receiving a substantial sum of money from a summer job.
As a result, I wanted to see if there was something I could do with the money I will get this summer, along with the money that I have sitting in my savings account + CDs. I will have around $50k total to invest by August, and it scares me because I have close to 0 money management knowledge/skills. (Really should have taken my personal finance course in undergrad more seriously)

Anyway, I was hoping to finally educate myself and read some books, so I'd really appreciate any recommendations. I don't need the real basics (have basic understanding of the investment options I have), so no "Personal Finance for Dummies" please. That said, are there any books out there with solid advice for a beginning investor?
I'm currently reading The Intelligent Investor, and so far I like it.

I'd also appreciate any advice you may have from personal knowledge/experience. TIA

I was in a similar position last year - The Boglehead's Guide to Investing is a good read. It obviously leans towards investing in mutual funds though, so keep that in mind as you read.

[34iplaw]

Probably stick to funds, preferably with low fees, and some blue chips I'd imagine. If you're actively interested in trying to invest, perhaps set aside a relatively small amount [$1k-$5k] to play with.

Timing is a pain to do, but, personally, I tend to try to buy after a significant daily drop [either market or specific stock]... prices are going to fluctuate...might as well try to get them when it's a down day.

[BrazilBandit]

Read "a random walk down wall street" and do it yourself with ETFs. start early and don't try to time the market.

[Dcc617]

Read "a random walk down wall street" and do it yourself with ETFs. start early and don't try to time the market.

+1 on Random Walk and not trying to time the market

[ek5dn]

Read "a random walk down wall street" and do it yourself with ETFs. start early and don't try to time the market.

+1 on Random Walk and not trying to time the market

+2. Definitely a good read. Also, does Barbarians at the Gate live up to its hype?