Reddit mentions: The best retirement books

Sorry for taking a bit to get back to you, had to wait out a temp suspension because apparently I'm a jerk. Never be afraid or sorry to ask a question. The worse that can happen is someone won't answer or will get upset. Neither of these are bad.

It was actually more in total to pay off but that's the high point of the debt. What changed for me was over the course of a few years I went from making ~30K/yr to making over 100K/yr and not inflating my lifestyle. Which begs the question, how did that happen right?

It's completely reproducible, believe me I am not super special, but it did require a lot of planning and working towards a goal and quite a bit of luck. Some suggestions on how to make more money.

• Move if you can to somewhere with better prospects for higher pay. The absolute best way to do this is to have a crappy commute from a low paying area to a higher paying area. It's a kind of arbitrage. Just make sure you consider your commuting time as part of your overall pay. If it doesn't make sense dollar wise, don't do it. I've got a mostly telecommuting job now.
  
  
• Make yourself invaluable to your employer or customer. If you're working for an employer and doing more than is asked, document that and bring your achievements up when it's time for a raise. If you're self employed, do not undersell your worth. Make sure you take into account the Pareto principle and focus on the customers that make you the most money for the least amount of effort. You're working to live, not living to work.
  
• Get better at finances. Since you're here, I'm going to assume you've got a handle on the software part. YNAB is great, but it's not meant to be a complete tool. You need to know how to work with spreadsheets, and learn the basic math behind compound interest, interest rates, etc so that you can make them work for you.
  
  Listen I could, and probably should, write a book on going from dirt poor to comfortable. There are a ton of excellent resources out there. I'll list them here for you. I'm pretty sure I'm done with Reddit after this suspension deal (I only came back because I wanted to answer you :)) but I'll PM you some contact details if you're really interested. You can ping me any time you've got a question or even just for moral support. :)
  
  List of (what I think are) excellent resources:
  
  ^Note: ^I ^have ^used ^all ^of ^these
  
  

  Finance
  

  Radical Personal Finance - Excellent financial information. If you're Christian you will probably really love this guy. If you're not, it comes up a lot, but the information really is just amazing.
  
  The Millionaire Fastlane - This guy comes off as such a mook or a wiseguy, especially in the audiobook, but I've never heard someone explain why passive income is so important better. This is a self made guy who lays out how he made his money.
  
  Early Retirement Extreme - It's basically just his blog in book format, but it goes into how the numbers work. Maybe you aren't as extreme, but if you want to go extreme, this is an excellent guidepost.
  
  

  Personal Improvement
  

  
  Saylor Academy - Free education with an opportunity to get an inexpensive degree, or certificates. If you're an autodidact this place goes through some great courses.
  
  Ramit Sethi - This course is more than just finance it's how to save money, negotiate better wages, get better rates, and basically how to restructure your thinking to understand your own worth.

Let's start you with the basics:

• The Bogleheads investment philosophy videos discuss why index funds are the best option for retirement plans and other topics.
  
• Reading: I would read one or two of the books in the reading list. Probably The Bogleheads' Guide to Retirement Planning to start.
  
• Read and digest the Retirement Accounts section of the Wiki, especially the two 401(k) sections.
  
  The best page with information about setting up a 401(k) that I've seen:
  
  
• http://www.bogleheads.org/wiki/Setting_up_a_401k_plan
  
• Note: In the communication step, I think it'd be fine to just ask about the three funds I list below: "What do you recommend for US equities? What do you recommend for international equities? What do you recommend for bonds?" It's fine to provide the more "broken out" funds in a plan for people that want that level of tinkering, but I don't think it's necessary or helpful to most people.
  
  And a recent thread or two:
  
  
• http://www.reddit.com/r/personalfinance/comments/2bk4vj/first_time_setting_up_my_small_companys/
  
• http://www.reddit.com/r/personalfinance/comments/1un8n8/communicating_whats_desirable_in_a_401k/
  
  Companies worth contacting:
  
  
• Vanguard
  
• Fidelity
  
• Employee Fiduciary
  
• The Online 401(k)
  
  The latter two are good if you can't get good index fund options for the price your employers are willing to pay with the first two companies. If you're under 250-500 employees, the latter two are probably better bets.
  
  Finally, fund options. Please try to include at least the following funds with expense ratios below 0.25%:
  
  
• US Total Stock Market Index Fund
  
• Total International Stock Market Index Fund (if Fidelity funds, it's the Spartan Global ex U.S. Index Fund)
  
• US Total Bond Market Index Fund
  
  For helping employees, you might want to bring in a fee-only CFP to do some training (with remote dial-in/video for remote employees) and provide some materials for future new employees. See what materials and training also come with the plan providers you'll be considering, but do not get a service that passes advisor costs onto employees. These seem to be really expensive (0.5% to 1%) and are a huge waste of money.
  
  Beyond that, target date retirement funds are a good addition to the plan and very helpful to new investors, but make sure you get ones that are based on index funds like Vanguard Target Date funds and Fidelity Freedom Index funds. Many target date retirement funds are unfortunately based (wholly or partially) on actively managed funds and have higher expense ratios.
  
  P.S. Matching is a great thing to provide to your employees. I personally like matching schedules that simply match some percentage (e.g., 50%) for every dollar contributed (rather than capping at some percentage), but I'm sure there are other opinions on this. Even if it is a small percentage, employees like to see it.
  

Hello,

You're a young guy, so don't be so harsh on yourself.

Not wanting to go to college and spend a huge investment isn't the worst idea. If you don't think you will get much out of it, it might just run you into the hole. That's valid, but if you find something you want to do- even if it's a trade I would go for it if your family will pay.

Regardless: A large number of my friends have either never gone/dropped out of college. Many of them are doing just fine, it's just a matter of personal drive and work ethic. If you have a drive to work, you will make your way in the world.

But before you spend that money on books about money: Hold up.

I think investing and making money is something possible for you, but I think it would have to be done with your own money on income from your own job. I do not think many major finance companies will hire someone without a degree, but that doesn't mean you can't profit from investing. A single Vanguard account and a ROTH IRA can do you well if you're making money (it requires an income but investments are made after tax so it can grow tax free) and give you some personal experience with the subject.

Investing, I think for you, might be best started there and then worked out with caution moving forward. Don't rush into it, and don't spend a ton of money trying to get people to tell you how they think it works, because most of them can't even beat the s&p 500 over the longterm.

Those wealthy people we all see on tv, the ones that made it big: For each one of those there were a million people that fucked up and lost everything. My advice, from a lifetime of fucking up and holding things together with duct-tape blood and grit: Don't try to be like them. If it happens, it happens. If you find a passion and run with it and end up finding success, that's kickass, but trying to force something like that is often more about luck and circumstances.

Find a job you can tolerate, focus on your passions in the time between, and let life take you where it takes you. If you're interested in money/investing, here are some things I've read that really made a difference on my life.

Bogleheads is where I would recommend you look first for investing/money knowledge.

Early retirement extreme
is a book I read a few years ago. It shaped my thoughts on money right as I was transitioning from a low paying job to a slightly less low paying job, and since then I've thought about it all very differently.

Vanguard information

Fidelity information - Also low cost to investors like vanguard

More specifically FI-RE related things (Online sources that might not be relevant to you but contain a lot of very good advice on lifestyle and investing/personal views that are interesting to read)

MMM

Living a FI

About Building Wealthy And Being Happy: A Practical Guide To Financial Independence:

• If you have read forums like /r/financialindependence for many years, you don't need me to become FI. However, it might be just what your family or friends need to get them started. There are some more complex topics, but the basics do need to be repeated. I think there's something new for everyone.
  
  
• There are some hilarious comics drawn by my illustrator. The book is supposed to be approachable and easy to read.
  
• This is my first time self-publishing. Formatting took years off my life. If you experience any quality control issues please let me know and I'll personally make it right.
  
  
• Please feel free to share the link with your friends and/or leave an honest review on Amazon. Reviews are the lifeblood of self-published authors! Cheers and let me know if you have any questions or anything.

Amazon seems to have a lot of recent books on the topic.

Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators (2015)
https://www.amazon.com/Family-Trusts-Beneficiaries-Protectors-Bloomberg/dp/1119118263

Executor's Guide, The: Settling a Loved One's Estate or Trust (2018)
https://www.amazon.com/Executors-Guide-Settling-Loved-Estate/dp/1413324800

Trustee's Legal Companion, The: A Step-by-Step Guide to Administering a Living Trust (2017)
https://www.amazon.com/Trustees-Legal-Companion-Step-Step/dp/1413323650

Plan Your Estate (2018)
https://www.amazon.com/Plan-Estate-Denis-Clifford-Attorney/dp/1413325114

Every Californian's Guide To Estate Planning: Wills, Trust & Everything Else (2018)
https://www.amazon.com/Every-Californians-Guide-Estate-Planning/dp/1413324681

I certainly agree that SNAP is an inadequate program for dealing with hunger in the US. I doubt you'll find many democratic socialists singing the praises of any means-tested public assistance programs. I'd much rather we universalize the program and ensure that every person, regardless of income, has access to food. That would be much better then what we have now. And then what would be even better then that would be to socialize the means of production and distribute food and other necessities entirely on the basis of need.

But we live in the world we live in now, and when conservatives attack working-class families by proposing to strip funding for the program entirely, I think it's the obligation of the Left, and just decent people in general, to defend against those attacks. 47 million people depend on SNAP to help them with food every month. Do we really just want to throw them to the dogs? Oh no wait, I bet the answer is we just somehow go straight into a revolution. How does that work exactly?

This part was pretty amusing:
>The most popular myth among the Left is the argument that the EBT and similar programs were “won by the struggle of working people”. This utter bullshit is either described as the direct fruits of the workers movements’ own effort or as a concession to that movement. In the first variant of this argument, the working class is said to have directly fought for programs like EBT because it wanted to have its subsistence managed by the state. In the second variant of the argument, the capitalists were forced to concede programs like EBT in order to stave off working class militancy.

>Not one person on the Left has ever advanced a single piece of evidence, based on the actual historical record, to support either of these claims.

Before saying that no one has ever advanced any evidence to support these claims, it might help your credibility if you actually did some research to find out if that's true. Shockingly, it's not. There's an entire wealth of research on the development of the Welfare State that supports the theory that the Welfare State is directly tied to the struggles of unions and Labor parties. It's called Power Resources Theory:
>Power resources theory begins with the realistic premise that political power is very unequally distributed in a capitalist democracy (Korpi 1983). Business, owners and managers have far more power because they control the means of production and thus the delivery of economic resources to the population. Ultimately, the default organization of markets becomes favorable for business, which triggers the exploitation of workers and subsequent economic insecurity in the broader population. Business has an interest in maintaining this default organization, and so exerts its influence to maintain a minimalist welfare state. In this default position, the working class and the poor have very little political power.

>To alter power relations, the working-class and poor must bond together and attract some of the middle class (Hicks 1999). Then, organized class-based political action in the workplace and elections can result (Korpi 1983). Workers can strike and interrupt the ability of business to make profits. More effectively, the working-class and poor, allied with parts of the middle class, can support Leftist political parties (Huber and Stephens 2001). When in office, these parties can push for an expansion of the welfare state to protect workers and the poor, and guard against the economic insecurity that is inherent in capitalism. Thus, Leftist political actors representing the working class and poor may influence the state in order to institutionalize egalitarianism. Given these foundations, power resources theory suggests two relationships between Leftist political actors and poverty: channeled and combined (Brady 2003b; see esp. Korpi 1983:187, Figure 9.1). Both imply Leftist politics are interrelated with the welfare state.

You can learn more about this non-evidence in books such as The Democratic Class Struggle, The Transition from Capitalism to Socialism, and Old Age in the Welfare State: The Political Economy of Public Pensions. More non-evidence can be gleaned from a google search of the term Power Resources Theory. Best of luck on your education!

What others said about ACA exchanges is right on point.

Also, he/you might want to read "Get What's Yours for Medicare." Link here!. Also, the states all have a Medicare hotline; find yours here. The New York City one is great, but the one in my burb not so much; the one in Iowa is great. Keep trying until you find a good one.

Also there is a book by the same folks called "Get What's Yours in Social Security" that might be useful. Good luck to him!

I don't know any specifics about CSIS nor do I know whether employees of that organization have a DC plan, but I do know a bit about pension plans and can answer your questions regardless:

>Is this true? If so, how does it affect those who are retired?

Changes to pension plans are generally forward-looking with no impact on previously-accrued benefits. When a plan is converted from DB to DC, employees still receive credit for all years of service up to the point of the conversion, and their future pension is comprised of two portions - the defined benefit portion (paid out as a calculation of years of service multiplied by a salary factor, again multiplied by a percentage), and a defined contribution portion (provided to the employee as a lump sum to be invested).

>And most importantly, if I already have a defined pension with another department, how will this affect it?

If you have an existing DB plan, it'd work the same way as it would if you left government employment and joined any other employer with a DC plan - you'd be able to transfer your pensionable service if there's an agreement in place between both plans, or you'd retain your pensionable service in the DB plan and join the DC plan as a new member. You could also, if you wanted, take a cash payment (transfer value) of the value of your DB pension to put into an individual retirement account, subject to tax sheltering limits.

It's a little outdated, but I recommend picking up The Pension Puzzle if you want more information about the different types of pension plans and how they work. It's an older book, so your library probably has a copy.

Sounds like you're trapped by your house rather than your job, to be honest. And "trapped" is the wrong word as it's a decision you've made and something you've decided to prioritise. Which is okay! I like being a homeowner!
But you can choose to live differently too, you know; I'm not one to advocate escapist bullshit like running off to southeast asia or whatever, as I work a job I don't love too and would obviously rather work less. But I get paid rather a lot so that allows me to dwell on the positives rather than the negatives. And I have an exit plan which provides the that control and calm we all need, psychologically.

Pick your cliche - Mindset is everything; What you focus on becomes your reality; The grass is always greener. They are all basically true.

Anyway, suggest you read over the FAQ and sidebar links at /r/financialindependance (don't just jump into the threads read the curated stuff first). Or buy the excellent Building Wealth and Being Happy by /u/grahamcpa

Either will provide food for thought and may allow you to plan something that will make you happier either short or long term, rather than wishing your life away.

I've had a lot of back-and-forth with /u/GraemeCPA on his book about FIRE, and I recently learned that it was out on Amazon. I haven't grabbed it yet, but Graeme has been a great contributor to the sub, and I wanted to make sure that people realized that this was out there.

I plan on checking it out and seeing if we can add it as a resource on the sidebar.

Building Wealth And Being Happy: A Practical Guide To Financial Independence

On What to Read


Here are some suggestions on books and websites:


The Millionaire Next Door by Stanley and Danko - https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474


If You Can by William Bernstein - http://efficientfrontier.com/ef/0adhoc/2books.htm


Free version is here - https://www.dropbox.com/s/5tj8480ji58j00f/If%20You%20Can.pdf?dl=0


The Investor's Manifesto. Preparing for Prosperity, Armageddon, and Everything in Between by William Bernstein - https://www.amazon.com/Investors-Manifesto-Prosperity-Armageddon-Everything/dp/1118073762


The Bogleheads Guide to Investing - https://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/1118921283


The Coffeehouse Investor - https://www.amazon.com/Coffeehouse-Investor-Wealth-Ignore-Street/dp/0976585707


The Bogleheads' Guide to Retirement Planning - https://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470455578


The Four Pillars of Investing: Lessons for Building a Winning Portfolio by William Bernstein - https://www.amazon.com/Four-Pillars-Investing-Building-Portfolio/dp/0071747052/


Total Money Makeover by Dave Ramsey - https://www.amazon.com/Total-Money-Makeover-Classic-Financial/dp/1595555277


Personal Finance for Dummies by Eric Tyson - https://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/1118117859


Investing for Dummies by Eric Tyson - https://www.amazon.com/Investing-Dummies-Eric-Tyson/dp/1119320690/


The Millionaire Real Estate Investor per red-sfplus’s post (can confirm this is excellent) - https://www.amazon.com/Millionaire-Real-Estate-Investor/dp/0071446370/


For all the M.Ds on here and HNW individuals, you might want to check out https://www.whitecoatinvestor.com/ and his blog – found it to be very useful.


https://www.irs.gov/ or your government’s tax page. If you’ve been reading, you know that millionaires know more than your average bear about the tax code.


https://www.reddit.com/r/TheRedPill/comments/7vohb3/money/


https://www.reddit.com/r/TheRedPill/comments/3hzcvn/financial_advice_from_a_financier/


https://www.artofmanliness.com/2017/09/22/4-money-tips-4-personal-finance-legends/


Personal Finance Flowchart from their wiki - https://i.imgur.com/lSoUQr2.png


Additional Lists of Books:


https://www.bogleheads.org/wiki/Books:_recommendations_and_reviews


https://www.whitecoatinvestor.com/books-4/


Subreddits


https://www.reddit.com/r/investing/


https://www.reddit.com/r/personalfinance/ - I would highly encourage you to spend a half hour browsing their wiki - https://www.reddit.com/r/personalfinance/wiki/index and investing advice - https://www.reddit.com/r/personalfinance/wiki/investing


https://www.reddit.com/r/financialindependence/


https://www.reddit.com/r/SecurityAnalysis/


https://www.reddit.com/r/finance/


https://www.reddit.com/r/portfolios/


https://www.reddit.com/r/Bogleheads/


MRP References


https://www.reddit.com/r/marriedredpill/comments/40whjy/finally_talked_to_my_wife_about_our_finances_it/


https://www.reddit.com/r/marriedredpill/comments/67nxdu/finances_with_a_sahm/


https://www.reddit.com/r/marriedredpill/comments/488pa0/60_dod_week_6_finances/ (original)


https://www.reddit.com/r/marriedredpill/comments/6a6712/60_dod_week_6_finances/ (year 2)


https://www.reddit.com/r/marriedredpill/comments/3xw015/how_to_prepare_for_a_talk_about_finances/


https://www.reddit.com/r/marriedredpill/comments/30z704/taking_back_the_finances/


https://www.reddit.com/r/marriedredpill/comments/2uzukg/married_redpill_finances_and_money/


https://www.reddit.com/r/marriedredpill/comments/3637q5/some_thoughts_on_mrp_and_finances/


https://www.reddit.com/r/askMRP/comments/8dwaqt/best_practices_for_finances_within_marriage/


https://www.reddit.com/r/marriedredpill/comments/588e5o/gain_control_of_the_treasury/


Final Thoughts


There are already a lot of high net worth individuals on these subs (if you don’t believe me, look at the OYS for the past few months). This should be a review for most folks. The key points stay the same – have a plan, get out of the hole you are in, have a budget, do the right moves for wealth accumulation. Lead your family in your finances. Own it.


What are YOU doing to own your finances? Give some examples below.

It seems like everything I read from people who are under 40~ years old who claim to be FI consists of these people becoming entrepreneurs rather than actually becoming financially independent. I make good money in my career, but building a portfolio where 4% withdrawal covers my living expenses does seem like a far off goal. On the contrary, building up some "mostly passive" businesses seems very achievable.

This eBook in particular stuck out. I don't know how true the book actually is, but he pretty much goes from working as his sole income source, to making money from outsourcing and rental income.

Are you guys working on passive/side businesses in addition to your saving/investing goals? How much effort do you put into this versus career advancement, and what kind of businesses are you working on? Do you feel the time spent working on these projects has a return that outweighs working more hours, taking on a second job, or pursuing higher paying positions in your field?

Most of all: would you feel comfortable "retiring" off of this income even if your portfolio wasn't quite at the level you wanted it to be?

Based on your investment choices... I would also recommend the two Boglehead's Guides. There is one to investments and one for retirement. Both will take you from having a "lack of knowledge in this realm" to no longer needing advice from so-called financial advisers.

If you're really following their advice, you also wont buy the books, but you will check them out at a library. Personally I bought them because they were pretty cheap anyways and I love having them to lend to friends whenever the subject of retirement or investing comes up.

Investing!


Retirement Planning!

They're all a ripoff and the industry is filled with ignorant conmen. Most "financial planners" are quite literally just salesmen. They're selling you peace of mind at a high cost. They're trained and strongly encouraged to push products with high commission for them that make little economic sense for you.

Have you read the wiki over on /r/personalfinance? https://www.reddit.com/r/personalfinance/wiki/commontopics

Between that and something like a bogleheads book (https://www.amazon.com/gp/product/0470455578 for example) you should be able to get the information you need.

If you're sure you want to work with a financial planner you might look into fee-based financial advisers, you can search for those here:
http://www.napfa.org/

A cursory search on the fee-based adviser website linked above didn't turn up any CFP (certified financial planner) who was also CPA (certified public accountant) in the DC limits.

Good luck

Here's the conventional wisdom on what to choose from:

http://www.bogleheads.org/wiki/Prioritizing_investments

>+ Company plan (401k, 403b, etc.) up to the company match

Company match is a free guaranteed return. Usually this is quite generous.

>+ Health Savings Account, if eligible.

This is only if you have a high deductible health plan. That's an official IRS definition and your plan must specifically say it's a qualifying plan. Having high deductibles isn't enough.

>+ Roth IRA or deductible traditional IRA up to maximum contribution limit, depending on personal circumstances and eligibility.

If you think your taxes at retirement will be higher than now (remember that taxes are now at all-time lows) then go with the Roth plan. If you think your taxes at retirement will be lower than now (possible if your current income is high enough that you're a couple tax brackets up) then go with the Traditional IRA.

You can switch back and forth from year to year as circumstances change. It's helpful to have both taxable and non-taxable income available during retirement so one can stay in appropriately low tax brackets.

>+ Company plan up to maximum contribution limit

These are rare, but sure, it might offer some benefits over taxable accounts.

>+ Taxable investing

These are nice because they can be used pre-retirement if necessary. Plan for long-term investing and you can also get decent tax rates.

This is the book with details:

http://www.amazon.com/The-Bogleheads-Guide-Retirement-Planning/dp/0470919019

I'm not sure about a particular book, but here's an idea. At retirement by a big honking Single Premium Immediate Annuity (SPIA). Now all your money is spent and you've got a nice income for as long as you live.

I'm being a little facetious but I'm trying to illustrate that, with a little planning, it is possible to spend it all in a way that won't leave you fretting that it might run out.

Look for books that are geared towards retirement planning as opposed to accumulation.

Edit: I found this book by Steve Vernon a pretty good description of how to set up for retirement spending.

There's a terrific book with lots of details and do's and don'ts here. International Living Magazine is also great. Lastly the Digital Nomad group here is great with lots of people doing it that will respond.

First apply for Unemployment. That’s fastest and easiest. Next apply for State Disability. In my state of California, that lasts for a year. Then after a year has gone by, you can apply for Social Security Disability Insurance: SSDI. That takes about 6 months, and applicants are often denied for various reasons.

Many that are denied hire attorneys that specialize in this area. They work on a contingency basis- they only get paid if you win the appeal, and then get 30% of your settlement.

Another program is SSI. That’s a Social Security benefit based on income. I know very little about it.

There’s an easy to digest book on the entire subject:


Nolo's Guide to Social Security Disability: Getting & Keeping Your Benefits https://www.amazon.com/dp/1413324843/ref=cm_sw_r_cp_api_i_rYKVDbNT15CD5

There's a common saying that if you read 3 books on a topic, you will know more about it than ~ 99% of people. I recommend starting with I Will Teach You To Be Rich by Ramit Sethi. Despite its corny name, this is a fantastic intro to personal finance for beginners. A more advanced and in-depth book would be something like Wealth by Virtue which I plan to read soon because people have been singing praises about this book. There's a million books out there about stuff like this and if you just read a few, you will be lightyears ahead of everyone else.

Two words: Index funds

Vanguard is the leader in providing reputable index funds with outrageously low fees. A lot of mutual funds will charge an expense ratio of 0.5% to 2%, which doesn't sound like a lot, but adds up big time in the long run. Vanguard's index fund expense ratios can be as low as 0.05% Considering that the bulk of managed mutual funds don't regularly beat the market, the index fund seems like the best bet for the everyday investor.

Set up an IRA, or an employee sponsored 401k, and begin putting in an affordable amount every month (dollar-cost averaging). Don't worry if the market is up or down, it all balances out in the end (timing the market is impossible for the average investor, and in the long run doesn't matter much anyways). Read up on bogleheads, check out r/investing, don't try to time the market, and remember that dollar-cost averaging is your friend.

Yeah, basically the goal is to try to reduce taxes in retirement by having social security, ROTH, and 401k savings to draw from.

This book gives a pretty good synopsis. In full disclosure my insurance agent gave me a copy to try to get me to buy variable life insurance. I don't really endorse that part. To be honest, I don't fully understand the ins and outs, but they have high fees and require some special structuring to get them to work as an investment. I have a 403b and a 457k, each with 18,500 max and a ROTH option for the 403b, on top of a employer compensation plan, so I gave plenty of levers for now.

https://www.amazon.com/Power-Zero-Bracket-Transform-Retirement/dp/0989000192

Boglehead's has a book specifically for retirement planning. This might be a good place to start if they are English speaking. If they are not English speaking, it will be up to you to educate yourself and then educate them. You can't force the knowledge on them, but you need to keep in mind that if they don't have enough money in retirement, they will likely be relying on you to support them. Maybe sitting down and talking to them about your concerns would be a good way to get them concerned as well.

Don't pay off the house! The way inflation is going it is much better to pay your mortgage with future watered down dollars and you get to write off the interest in the mean time.

Go here http://www.bogleheads.org/forum/viewforum.php?f=1&sid=e7eb3112918c466c56250d9de7993c31 and they will help you figure it out.

2% is criminal unless you are about to retire you could get 5% in bonds and be completely safe. I made 24% last year just buying the market and my Fiance's finance guy got her 12% (due to fees). Paying people for financial management seems like a waste to me when you can educate yourself a bit and not pay fees.

Main things to understand are diversifiable risk, expenses ratio, stock/bond ratio, asset allocation, rebalancing, tax loss harvesting, and tax efficiency. If you knew about these things last year you would have made 24% instead of 2% because all I did was buy the market and add a little extra exposure to small and foreign companies.

This book might help http://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470919019/ref=sr_1_2?s=books&ie=UTF8&qid=1302800416&sr=1-2

There are some really good books out there with this information.

​

I just finished this one, it was good: https://www.amazon.com/gp/product/0743297016/ref=ppx_yo_dt_b_asin_title_o03_s00?ie=UTF8&psc=1

This book is poorly designed, but contains great info on the social progressiveness of different countries:

https://www.amazon.com/Better-Life-Half-Price-cheapest/dp/1505651697/ref=sr_1_4?keywords=retire+overseas&qid=1568387822&s=gateway&sr=8-4

For everyone concerned about the financial questions, I purchased this workbook from Amazon lately for a friend who received a terminal diagnosis. Working through the pages helped us make sure everything was addressed and helped give him some peace of mind. It may be worth it, if you're concerned about your own situation, to take a look.

I used to sell annuities as a broker, yes this is the main reason. You are better off investing in a Roth IRA or some other retirement account first, then - if possible when you retire - obtain a variable annuity with a principle/income protection (just in case the market crashes, but you get more dough when it goes up, than fixed).

Long story short, read Bogleheads Guide to Investing or Bogleheads Guide to Retirement; sources:

The Bogleheads' Guide to Investing https://www.amazon.com/dp/1118921283/ref=cm_sw_r_cp_api_d006Bb505YNH1

The Bogleheads' Guide to Retirement Planning https://www.amazon.com/dp/0470919019/ref=cm_sw_r_cp_api_z006Bb4QAZKBM

These two books are more than enough to give anyone the knowledge in terms of investing and retirement planning. Or just hit me up with questions, please note that I haven’t been licensed in almost a decade, because I had chosen not to renew my series 6 and 63. Anyway, I hope my post helps.

Edit: damn autocorrect.

This one

I got it when it was free, haven't finished it yet. /u/GraemeCPA'/ writing is pretty good.

JL Collins is great, I for one highly agree with his position on real estate.

OP might also enjoy Graeme Falco's book. Graeme is Canadian and a frequent contributor over at /r/financialindependence. I have yet to read it, but I have hear much good about it.

https://www.amazon.ca/Building-Wealth-Being-Happy-Independence-ebook/dp/B01MXRXM1A

Good question. The post important thing is starting early- due to the much discussed benefit of compound interest.

http://www.getrichslowly.org/blog/2006/05/23/how-compound-interest-favors-the-young/

Many people suggest saving 10-20% of gross income for retirement. It is important to contribute the maximum amount when someone else contributes/matches what you invest.

Three general rules of investing.

1. Invest regularly
   
2. Go for investments with low fees
   
3. Diversify
   
   My favorite beginners book for investing is-
   
   http://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470455578

One of our subscribers, /u/graemecpa, has just finished a personal finance book. He was running a giveaway yesterday, but due to an apparent glitch in the RemindMe bot, many people missed the giveaway deadline.

So he's extended the promotion to today. Here's the link:Building Wealth And Being Happy: A Practical Guide To Financial Independence

If he had will find that and try to put your hands on the insurance policy. Contact social security about any death benefit for burial to be paid to your mom as well as social security payments for your minor siblings.

I'm going to recommend a book to you, try to get it from the public library but, if it is unavailable you can buy it.

Executor's Guide, The: Settling a Loved One's Estate or Trust by NOLO publishing.


https://www.amazon.com/Executors-Guide-Settling-Loved-Estate/dp/1413324800/ref=sr_1_1?ie=UTF8&qid=1539069704&sr=8-1&keywords=nolo+guide+for+executors


Soup to nuts on how to settle an estate.

For retirement: buy this book, read it, do what it says.

http://www.amazon.com/The-Bogleheads-Guide-Retirement-Planning/dp/0470919019

As for tax advantages, I recommend you consult an accountant. There may be deductions you can take.

• Please read the FAQ and I'd recommend reading The Bogleheads' Guide to Retirement Planning
  
  
• Schwab is fine, you should open a Roth before April 15 and report it as a 2013 contribution. Since you are in a low tax bracket this is a good time to open a Roth. The limit is $5.5k so I'd max it out 2013 and 2014 before you start your new employment.
  
  
• Invest in index ETFs with low expense ratio and diversify among different asset classes.
  
  
  

> Essential Retirement Guide by Fred Vettese

Thanks, this one, right? https://www.amazon.ca/Essential-Retirement-Guide-Contrarians-Perspective/dp/1119111129/ref=sr_1_1?ie=UTF8&qid=1509569427&sr=8-1&keywords=the+essential+retirement+guide

Thanks! Is this it? https://www.amazon.ca/Essential-Retirement-Guide-Contrarians-Perspective/dp/1119111129

Before paying someone, spend some time poking around on here. They also have a couple helpful books that sum everything up in layman's terms.

This book provides a good foundation - https://www.amazon.com/Bogleheads-Guide-Retirement-Planning-ebook/dp/B002QX44IS

Instead of hiring an adviser, why not learn what you need to know and do it yourself. I personally liked this approach:
http://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470455578

The Bogleheads' Guide to Retirement Planning This is a great book. It covers investing but goes heavy into retirement planning.

Something like this may help OP's dad organize the household accounts and it's not very expensive: [https://smile.amazon.com/Get-Together-Organize-Records-Family/dp/1413323154?_encoding=UTF8](
Get It Together: Organize Your Records So Your Family Won't Have To )

For retirement, The Bogleheads Guide to Retirement Planning, got me started down the right road. It's the one I recommend most to people.

1. Pay off any high interest debt (>5%)
   
2. Save enough to cover 6 months loss of income (for you, that probably means not too much now, but it will mean much more the second you finish college and move out), and put it in a savings account that provides you immediate access.
   
3. Get a single credit card, and pay for your everyday things with it. Then pay off the entire balance of the card every month. The point is to accrue a history of good payments, but not interest
   
4. Invest your extra money first into a tax deferred retirement fund (Roth-like IRAs), and after maxing that out (there are yearly limits to what can go in), invest in low cost taxable equity and mutual finds.
   
   Read the following two books to get started with investing and retirement:
   
   The Boglehead's Guide to Investing: http://www.amazon.com/gp/product/0470067365?ie=UTF8&tag=diehardsorg-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0470067365
   
   The Boglehead's Guide to Retirement Planning: http://www.amazon.com/gp/product/0470455578?ie=UTF8&tag=bogleheads.org-20&linkCode=as2&camp=1789&creative=390957&creativeASIN=0470455578
   
   If you start now, and keep at it as hard as you can, you'll retire, completely financially independent, at 50. That's 15 years earlier than the American government says their citizens should retire, and even earlier than most people actually manage to retire.
   
   And finally, live below your means. You can't save money if you financially strap yourself.
   

Here you go.

Buy this book: http://www.amazon.com/The-Bogleheads-Guide-Retirement-Planning/dp/0470919019

Early Retirement Extreme by Jacob Lund Fisker http://earlyretirementextreme.com/ and his book is the most profound thing I've ever read for finances https://www.amazon.com/Early-Retirement-Extreme-philosophical-ebook/dp/B0046LU7H0/.

http://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/1118921283

Then

http://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470919019