Gift Ideas for New Investors
It's the 11th hour for gift shopping and I'm sure you're stick to death of malls and traffic by now. Fear not! You can still rush-ship items from Amazon in time for Christmas and I've got the perfect list of investing gifts that you can give to your loved ones who are new to the investing world. Below are three of my favorite reads for investing, which are not complicated for novice investors, and actually are rather enjoyable. There's a book for every investing personality...and a fun suggestion as well.
Click on the titles to check them out on Amazon.com and enjoy!
Everyone, and I mean everyone, before you ever buy your first stock should read this book by Burton Malkiel since it provides everything you ever wanted to know about the stock market in a very clear and precise way with plenty of easy-to-understand examples. There is a new edition of this book just about every year, it is now on edition 10 and I was education on the 8th edition - but the message is overall still the same. My first mentors on Wall Street suggested I read this book to better understand what the stock market is all about. Frankly, I'm very glad I did.
This book was a gift to me by one of the co-authors, Taylor Larimore, who incidentally is my distant cousin. Who would have imagined we'd end up in the same industry. He is a friend of John C. Bogle - the founder of Vanguard Group (many of you may have an employer 401(k) managed by them already).
The Boglehead's Guide to Investing is a DIY handbook that espouses the sage investment wisdom of John C. Bogle. This witty and wonderful book offers contrarian advice that provides the first step on the road to investment success, illustrating how relying on typical "common sense" promoted by Wall Street is destined to leave you poorer. This updated edition includes new information on backdoor Roth IRAs and ETFs as mainstream buy and hold investments, estate taxes and gifting, plus changes to the laws regarding Traditional and Roth IRAs, and 401k and 403b retirement plans. With warnings and principles both precisely accurate and grandly counter-intuitive, the Boglehead authors show how beating the market is a zero-sum game.
Investing can be simple, but it's certainly not simplistic. Over the course of twenty years, the followers of John C. Bogle have evolved from a loose association of investors to a major force with the largest and most active non-commercial financial forum on the Internet. The Boglehead's Guide to Investing brings that communication to you with comprehensive guidance to the investment prowess on display at Bogleheads.org. You'll learn how to craft your own investment strategy using the Bogle-proven methods that have worked for thousands of investors.
After his Enlightenment the Buddha set out to help liberate the individual, and create a society free from suffering. The economic resources now exist to offer a realistic possibility of providing everyone with decent food, shelter, work, and leisure, to allow each of us to fulfill our potential as human beings, while protecting the environment. What is it in the nature of modern capitalism which prevents that happening? Can Buddhism help us build something better than our current economic system, to reduce suffering and help the individual to freedom? In this thought-provoking work, Vaddhaka Linn explores answers to these questions by examining our economic world from the moral standpoint established by the Buddha.
by Your Wallet
Who are you, my uncle? This one may seem a little odd, but if you have no time to go to the store, perhaps you can go to the ATM and take out some cash for your loved one. BUT make sure to mention that the cash is not for spending but rather for opening a new account -- like a Roth IRA or a Brokerage Account to do trading. What better way to encourage your loved ones to get investing then to actually start to help them with investing? If your loved ones are kids though, they will need to have a family member co-sign on their accounts and won't be able to make trades themselves until they're 18, but they should get started as early as possible.