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I have roughly $20,000 to invest and I have absolutely no experience with investing. I am extremely risk-averse. Where do I start?(r/investing)
My recommended reading list includes One Up on Wall Street, Fail-Safe Investing, The Black Swan, How an Economy Grows and Why It Crashes, and Extraordinary Popular Delusions and The Madness of Crowds. The first book talks about picking individual stocks based on what you already know, the second about structuring a portfolio for growth while still playing defense, the third about common fallacies and hubris, the fourth about basic economics, and the fifth about irrational behavior.
If your money is sitting in a US bank account, then you’re making a 100% bet on the future of the US dollar. At a minimum, diversify your currency holdings by buying sovereign and high-grade corporate debt in countries with strong currencies.