| Might be a bit US centric, but my recommendation is: 1. Read the reddit personal finance wiki https://www.reddit.com/r/personalfinance/wiki/index/ 2. Read The Simple Path to Wealth by J L Collins 3. Read The Bogleheads' Guide to Investing 4. Read the Bogleheads' wiki https://www.bogleheads.org/wiki/Main_Page 5. Use a personal finance app to track budget and spending (I use Simplifi). 6. Track your Income, Expenses (just the broad category), Bills (per invoice), Assets, Debt on a spreadsheet with columns per month. I make it easy and put the hyperlink for the source of truth in the name of the row. 7. My general rule is that I need to have at least 50% savings each month from combined investments and income. This percentage is more defined by what year you want to "retire" and switch from capital accumulation to capital spending phases of your life. 8. This is the step I'm on now. I'm trying to learn finance in a far deeper capacity, so I'm spending time to learn accounting, finance, trading strategies. I'll run various accounts with different strategies and see how it goes. Those strategies will fall under the "speculative" part of my portfolio, which won't exceed more than I can afford to lose and still hit my retirement targets. |
I loved this book, and it’s exactly what I do. I have every investment dollar in VTI (ETF version of VTSAX).
My other favorite book is The Wealthy Barber. That and The Simple Path To Wealth have be the wisdom to keep investing as simple and possible, and some insight on how to develop good investing habits. Paying myself first & dollar cost averaging are both incredible insights.
I also enjoyed The Richest Man In Babylon.