Wealth of Experience: Real Investors on What Works and What Doesn't Hardcover - 2003 - 1st Edition

Summary

First line

The investment literature is rich with theory.

From the jacket flap

Presenting a fresh approach to investment guidance, Wealth of Experience is built on real investors' stories about what has and what hasn't worked for them during their per-sonal investment journeys. Based on responses of 600 investors to a detailed survey, this one-of-a-kind book distills the investment wisdom of ordinary human beings-men and women, working and retired, young and old-into a simple plan that can help you enhance your prospects for long-term success and avoid major financial mistakes.

Chapter by chapter, you'll be introduced to the building blocks of a successful investing program. You'll learn how to approach these building blocks from different angles so you can achieve your individual goals. Through the personal accounts of "What Works" investors and informative sidebars from Vanguard officers, you'll receive a down-to-earth education on important investment issues that include developing a portfolio; managing taxes on your investments; avoiding self-destructive moves; and keeping your costs low. Detailed discussion shows you how to:

• Save today so you can have financial success tomorrow
• Establish a plan and find a strategy to make it happen
• Study the investment process and understand your investments
• Diversify and allocate your assets
• Select investments with the right combination of benefits and trade-offs for your unique goals
• Monitor portfolio performance and make midcourse corrections

Wealth of Experience also explores how you can leave a lasting investment legacy, both financial and behavioral, by donating to charitable organizations or shaping the investment habits of your children and grandchildren.

Wealth of Experience approaches investing from the perspectives of ordinary people who have experienced the successes and failures that characterize any investment program. It shows that real people from all walks of life can invest to meet their financial goals without access to highly paid advisers or complicated investment strategies. Filled with practical advice for investors from investors, Wealth of Experience will illuminate an investment path that is right for you.