Why aren't you a Boglehead already? Why I love Bogleheads....

 

“Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.”

People often ask me where I learned about investing and money. They are usually surprised when I tell them I learned about investing from a website named “Bogleheads.” I really can’t blame them, that’s what I thought at first too. I kept accidentally stumbling across the site when I was researching the best funds for my PERA401k.  Turns out another Coloradoan had already posted a question about PERA’s 401k. A few weeks later, I was directed to the site again. I started wondering, “What is this Bogleheads site and why do I keep getting directed here?” Eventually, I would learn that it’s the largest financial discussion forum in the world. It is named after John Bogle, the founder of Vanguard--the largest investment company in the World. Besides the financial discussion forum, it also includes an amazing wiki that covers every investing topic you can imagine.

One of the most amazing things about the discussion board is the portfolio review forum: https://www.bogleheads.org/forum/viewtopic.php?f=1&t=6212. After you’ve created an anonymous account, you can post your portfolio questions to a group of very smart and usually very helpful people. Within hours, you’ll have dozens of thoughtful answers about your investing questions. These people have nothing to gain from you, so you know their answers are in your best interest. Compared to the 403b advisors I’ve chatted with in my teacher’s lounge, Bogleheads blow them out of the water in terms of financial knowledge!

Before you do anything, make a cup of coffee, and spend a few hours reading through the articles on the wiki: https://www.bogleheads.org/wiki/Main_Page. Once you have a basic understanding of investing, consider posting your questions, or even your portfolio on the portfolio review forum. Your name is anonymous and you remain anonymous. You can use percentages instead of dollar figures. I know it seems strange at first but you’ll get used to it and it really works. I’ve shared my portfolio there many times.  I’ve posted on the board over 2,500 times now. Last year my wife and I made more money on our investments than we did working the whole year. Granted the stock market had an exceptional year but I give Bogleheads most of the credit. The best part is, after you’ve spent a few months reading posts and responding to questions, you’ll know enough about investing that you will be able to take care of your own finances.  Turns out that it is not that difficult.  I cannot tell you how important this is. Working with a 3rd party, such as Edward Jones, could end up eating half of your retirement savings. Trust me on this one: Nobody but YOU has YOUR best interest in mind when it comes to YOUR money. I encourage you to work with an hourly CFP but I also encourage you to learn as much as you can yourself, especially if you have kids--you’ll be able to pass the knowledge down to them.

And that’s why I love Bogleheads.org. Now go set up an account on Bogleheads and ask some questions!