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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

jeteb041 wrote: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.

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.

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

BrazilBandit wrote: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

Dcc617 wrote:

BrazilBandit wrote: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?