Book by J.L. Collins
Been doing passive investing for years, although with my primary resource being the Internet, my knowledge has been a bit sparse. I still have many questions, and wanted to find a comprehensive piece that'd inevitable answer some of them, such as: Why is it OK to have 50-100% of your portfolio in the US market? Why is the standard withdrawal rate adjusting for inflation 4%, and not 5%? When should you invest lump-sum, or do dollar-cost averaging? Among others. Something I wish this book had gone more into are the economics of passive investing and buying and renting property (e.g. a mortgage has a lower annual interest than the market, how do you optimize this, etc). The book has chapters almost exclusively focused on the US and how to optimize taxes there, those can promptly be skipped without losing much. I got answers to some of my questions, but this is a fairly basic book—will serve anyone who's just getting into passive investing, or lack a complete mental model. It'd get another star if it talked more about the composition of indexes, real estate and was less shallow on International markets.