For those unfamiliar with the author, Dan's Canadian Couch Potato blog & podcast is one of the best investing resources in Canada, covering all the nuances of index-investing. But he's generated so much great content over the years, it's hard for someone new to investing or indexing to know where to get started. "Reboot Your Portfolio" solves this problem nicely by explaining the most important concepts in a clearly progressing order.
To be clear, this isn't a "get rich quick" book. The investing approach advocated is index-investing, which has historically been shown to give strong & steady returns to grow your money and outperform the majority of investors over the long-term with manageable risk. Dan lays out a compelling case why over the long-term indexing is likely to outperform active management, regardless of if done by yourself or a professional, with much lower fees & less work involved. And best of all: the basic strategy makes sense whether you have hundreds or millions to invest.
While the technical steps to invest in an index fund are relatively straightforward nowadays, the "steps" presented here are really about laying a strong foundation: understanding concepts such why indexing works, what your risk tolerance is, what diversification you need and what you don't, which type of products to select, when to add new money, when to worry about fees and when to focus on simplicity, dealing with FOMO, and how to stick to your plan. This background is invaluable to making a proper financial plan and sticking to it.
Dan's background in journalism really shines through, with complicated concepts being explained in simple terms with plenty of evidence. It's also a really enjoyable read that never feels dry or boring, despite the subject-matter. Even as someone already familiar with most of the content, I enjoyed the read and it acted as a great refresher. And while focused on Canadian investors, I suspect even those in other countries would benefit from 95% of the book's content.
The book does focus on simplicity and thus emits (or only touches on briefly) some of the more advanced indexing/investing topics around areas like tax efficiency. Dan's likely right that in most cases worrying about these topics is likely to lead to more lost in mistakes and trading costs than any savings (especially for portfolios not at least mid-six-figures large), not to mention the extra effort, so avoiding these topics was probably the right call. But for those with larger portfolios & discipline and who are willing to do some more work to squeeze out some more savings, Dan and his colleagues have plenty of resources online to dig into these advanced topics; point being, even if you don't fully follow Dan's "keep it simple" advice, this book will still serve as a great foundation to make sense of those more advanced concepts.
Overall, regardless of your age, net worth, investable assets, previous investing experience, and anything else, I'd highly recommend giving this book a read.
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