Rethinking Investing E-Book

Charles D. Ellis

• Herausgeber: John Wiley & Sons
• Kategorie: Ratgeber
• Sprache: Englisch

Seitenzahl: 97

Veröffentlichungsjahr: 2025

Beschreibung

Sophisticated, simple “Bible” for long-term investors, especially those in or approaching retirement

In just 10 short, accessible, and inviting chapters, Rethinking Investing: A Very Short Book on Very Long-Term Investing presents straightforward steps that ordinary people can take to better invest their money. This book dispels myths about the value of investment managers, highlights emotional tendencies that can cloud our financial judgment, explains why index funds are a savvy choice, and reveals secrets like why it’s better to wait until age 70 to receive Social Security benefits—along with the calculations that make this decision crystal-clear.

Written by renowned investor and popular author Charley Ellis, this must-read resource shows you how to set yourself up for investment success in three easy steps, with information on:

• Creating an optimal nest-egg withdrawal strategy to ensure you never run out of money, even if you live until age 100
• Maximizing returns through tactics like reducing your tax bill and making full use of diversified investment vehicles
• Using a safe, passive investment strategy and letting the modern stock market do all of the hard work for you

Rethinking Investing: A Very Short Book on Very Long-Term Investing is an essential read for long-term investors who want to start getting more from their money, especially those in or approaching retirement seeking to secure happier outcomes later in life.

Leseprobe

ADDITIONAL PRAISE FOR RETHINKING INVESTING

“The strategy that is most likely to lead to financial prosperity is surprisingly simple. This succinct book elegantly filters out the noise and focuses the read on what really matters.”

—James Choi, Professor of Finance, Yale University

“Charles Ellis is an investment industry legend, as a practitioner, executive and academic for longer than most asset managers have been around. I can think of no one whose advice I would rather take when it comes to my own personal investments. Rethinking Investing is Charley at his most practical best.”

—Robin Wigglesworth, author of Trillions

“If Charley Ellis is writing it, I am reading it! And you should too. Each new article and book bring a new perspective, a new insight and a new brilliant analogy! This book, is a gift from Charley to the millions of current and future investors who will find themselves better off.”

—Jenny Van Leeuwen Harrington, Chief Executive Officer, Gilman Hill Asset Management

Books by Charles D. Ellis

Figuring It Out: Sixty Years of Answering Investors’ Most Important Questions (Wiley, 2022)

Inside Vanguard: Leadership Secrets From the Company That Continues to Rewrite the Rules of the Investing Business (McGraw-Hill, 2022)

Winning the Loser’s Game: Timeless Strategies for Successful Investing (McGraw-Hill, 8th Edition, 2021)

The Elements of Investing: Easy Lessons for Every Investor, 10th Anniversary Edition (Wiley, 2021)

The Index Revolution: Why Investors Should Join It Now (Wiley, 2016)

Falling Short: The Coming Retirement Crisis and What to Do About It (Oxford University Press, 2014)

The Elements of Investing: Easy Lessons for Every Investor (Wiley, 2013)

What It Takes: Seven Secrets of Success from the World’s Greatest Professional Firms (Wiley, 2013)

The Partnership: The Making of Goldman Sachs (Penguin, 2008)

Joe Wilson and the Creation of Xerox (Wiley, 2006)

Capital: The Story of Long-Term Investment Excellence (Wiley, 2004)

Wall Street People: True Stories of the Great Barons of Finance, Vol. 2 (Wiley, 2003)

Wall Street People: True Stories of Today’s Masters and Moguls, Vol. 1 (Wiley, 2001)

Financial Services without Borders: How to Succeed in Professional Financial Services (Wiley, 2001)

The Investor’s Anthology; Original Ideas From the Industry’s Greatest Minds (Wiley, 1997)

Investment Policy: How to Win the Loser’s Game (McGraw-Hill, 1992)

Classics II: Another Investor’s Anthology (Irwin Professional, 1991)

Classics: An Investor’s Anthology (Business One Irwin, 1988)

The Second Crash: How the Stock Market Went the 1929 Route in 1970 (Simon and Schuster, 1973)

Institutional Investing (Dow Jones-Irwin, 1971)

Repurchase of Common Stock (Ronald Press, 1971)

CHARLES D. ELLIS

RETHINKING INVESTING

A VERYS HORT GUIDE TO VERY LONG-TERM INVESTING

FOREWORD BY BURTON G. MALKIEL

Copyright © 2025 by Charles D. Ellis. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data is Available:

ISBN 9781394328291(Hardback)ISBN 9781394328314(epdf)ISBN 9781394328307(epub)

Cover Design: WileyCover Image: © anilakkus/Getty Images

FOREWORD

How often have we heard people say, “If only I had known how small changes I could have made earlier in life could have made such profound changes in my financial security today in retirement.” And “Wouldn't it be nice if I could have a short and simple primer from a knowledgeable expert that explained how almost unnoticeable changes in my lifestyle today will profoundly affect my long run financial well-being.”

Charley Ellis, one of the legends in the investment profession, has come to the rescue. In these brief pages, you will learn all you need to know about investing wisely and setting yourself on the road to a secure financial future. Here you will learn not only what to do but also how to avoid the common errors that can ruin any financial plan. And all the important lessons are presented in an accessible, clear, and engrossing writing style. Reading this brief Charley Ellis chronicle of lessons learned from a lifetime of helping investors achieve their financial goals will be the most beneficial way anyone could spend a few hours of their time.

The average working household in the United States has no retirement assets apart from Social Security. The savings and related assets that do exist are closely correlated with income and wealth. This fact is prominently recognized by politicians who have favored imposing wealth taxes on the most affluent. However one views the fairness of the distribution of income and the tax system, there is another helpful way to lessen wealth inequality. Small changes early in life can absolutely ensure that even people with the most modest incomes can look forward to a seven-figure retirement portfolio.

On November 26, 2023, the New York Times published a charming story about Geoffrey Holt, who died leaving his entire estate of almost $4 million to his adopted hometown, Hinsdale, New Hampshire, to support community service organizations and programs. What shocked residents of the town was that Mr. Holt worked his whole life at a low salary, most recently as the caretaker for a mobile home park. His secret was that he had saved modest amounts of money regularly and invested his savings in the stock market.

The story of people with modest middle-class salaries amassing large fortunes is not an anomaly. In their book The Millionaire Next Door, Thomas J. Stanley and William Danko surveyed millionaire households in the United States and made the surprising conclusion that the typical millionaire isn't living extravagantly with fancy homes and cars, all thanks to an inherited trust fund. Most millionaires are first-generation rich. They often started their own business. Wealth in America is more often the result of a strong work ethic, frugal spending habits, and regular savings and investing. The millionaires next door have no interest in conspicuous consumption. They spend modestly and save regularly, and they appear to be far happier than their more ostentatious peers. This is the same template of a successful financial life that you will find in the pages of this book.