The Only Investment Guide You'll Ever Need, Only Investment Guide You'll Ever Need by Andrew Tobias

The Only Investment Guide You'll Ever Need, Only Investment Guide You'll Ever Need by Andrew Tobias

Ignoring the advice, though, would be a bad idea because Tobias gives an overview of just about everything the average person needs to know about managing his or her money. He covers budgeting, insurance, and, of course, investing.

Invest that dollar in index funds and ten years later, you'll likely have a dollar earned. Market maker is a firm that will buy and sell stocks with a bid/ask spread to make money. Each exchange will have one or more of them.

Our disagreements flare up most around the subject of cash. I’d like to avoid holding cash that will cost me $800,000 over a lifetime, while Cuban openly advocates for staying out of the stock market while you wait to start a billion dollar business.

I am not sure that if you need to read only one book this is it, but definitely, it was a pleasant read and the advice is accurate for the person who does not want to be an investing professional. I expected this book to be BS, but it was the opposite. Tobias demonstrates the risks of investing, through his own personal examples.

He wants to tweak it and keep it going instead of scrapping it or allowing current workers to opt out. In other words, he would decrease benefits and increase taxes to pay for this failed system. Social Security is an abomination, and no one should be forced into contributing to it.

What if someone has cancer and will die in 5-10 years? It's ridiculous to force them to save for retirement. What happens when the baby boomers retire and we have 2 workers supporting every 1 retiree instead of the 40 to 1 ratio we had when FDR first made this mistake?

The Only Investment Guide You'll Ever Need is not the only good book on investing. It's not even the only investment book you'll need, if you have any special financial situations where expert advice is needed (a disabled child who will never be able to take care of himself, for example). But it covers just about everything you need to know, plus a bunch of stuff that's merely fun to know.

The Only Investment Guide You'll Ever Need : Newly Revised and Updated

There's also a great chapter on everyday savings you can make. It's sort of like David Bach's Latte Factor, but Tobias's take is a lot (dare I say) smarter in its outlook and scope. This author started early as a whiz kid and is very accomplished, but he's self-effacing and honest about his own mistakes--so you really do trust him to be straight with advice. Most people will definitely get something out of this book. For nearly forty years, The Only Investment Guide You ll Ever Need has been a favorite finance guide, earning the allegiance of millions.

What Tobias’s book does a good job explaining, especially in the opening chapters, is that personal finance isn’t some kind of mysterious alchemy. Sure, there are always new ways of making (and losing) money. But the basic principles that guide your decisions should be simple, practical, and most of all immune to fads. And don’t sink your money into risks you don’t understand. If you must invest, put your money in low-cost, broad-based index funds, every month, for the rest of your working life, regardless of market conditions.

I wish I had known about it before, It would have saved lots of time and money which I have spent on a few seminars. THis book goes into more detail and gives suggestions and examples we can use in our everyday life. (Each category has more specific sub-categories.) This is an important and helpful book. Mr. Tobias, for one, describes himself as rather chickenhearted. People should take on levels of risk that are not only appropriate for their income, goals, and stage of life, but also in line with their psychological ability to withstand risk.

On a personal aside, governmental regulations and the tax code created this hodge-podge of investment vehicles and considerations. It pisses me off that it's even necessary to play all these games and learn arbitrary information such as the maximum contribution to a 401 K plan for 2007 is $15,000. Equally annoying is that this arbitrary information changes every year, so your knowledge quickly becomes obsolete if you don't keep up. Tobias does a good job of wading through the pool of excrement that our government has created, but reading his book just makes me angry about our government's interventionist and innane rules. The existence of a book like this just shows how beautiful a FairTax world would be.

• A simpler book might begin and end with low cost index fund investments so the average investor is not confused.
• I've been thinking about checking out some additional investment / financial advice books.
• My only regret is that I didn’t discover this work until I was in my 30s and had lost 10 years of investment time.
• Before reading this, I was confused about several instruments with about the same level of risk (CDs, money market funds, money market accounts, I-bonds, TIPs, and Treasury bills).
• What Tobias’s book does a good job explaining, especially in the opening chapters, is that personal finance isn’t some kind of mysterious alchemy.

For regular readers of the site, I awardThe Only Investment Guide You’ll Ever Needby Andrew Tobias four out of five wizard hats. For the book’s target audience, this is undoubtedly a 5/5, and a must read. Parts of this were not helpful (his whole savings chapter, and other places where his advice was too specific/circumstantial to be useful, like everyone should invest in timber!). I consider myself a decently smart and well educated person, but financial stuff is just so difficult for me to grasp.

Ignore financial newsletters, there is no way you can predict what the market will do, when even financial experts are unable to do it. Don’t buy annuities or dabble in commodities futures. The Only Investment Guide You Will Ever Need is definitely worth reading to get wide perspective regarding everything related to investment & financial planning. It's an ok book, it has the basic about money. Save, spend bellow your means, and invest in cheap fix costs index funds.

This looks like a good one, with some real world advice. If it has some humorous stories included, all the better. It's hard to find that in an investing book.

You can tell this book has been through many iterations and that a lot of things have changed since the original edition. There are a lot of broad topics breezed through and squeezed in the span of a few pages that make reading tedious at times.

However, I'm pretty sure I'll return to this one, as it does provide a fairly wide overview of a lot of different things that seem useful to know about. I learned a lot about taxes that I didn't understand before, and had several more productive conversations with my husband about our overall financial strategy. But I'm pretty sure this is not the only investment guide I'll ever need. To ask other readers questions aboutThe Only Investment Guide You'll Ever Need,please sign up.

This completely updated edition will show you the best way to manage your money, no matter what your means. Chapter two alone should save you thousands of dollars. Today I’m reviewing The Only Investment Guide You’ll Ever Need by Andrew Tobias. I also maintain a list of all my book reviews. I read this book when it was first published in 1978!

Is This Book Really The Only Investment Guide You’ll Ever Need? [Book Review]

3- If you are not investing in a 401(k), especially if your employer matches, then you are just stupid (which I completely agree with). If you don't have a 401(k) option, then you need to look into IRAs.

A fine strategy for a genius techie perhaps, but not exactly the best advice for the average person looking to maximize their returns. rating will probably change since this is the first book I've read about investing, and I don't know what else is out there. I enjoyed this [somewhat snarky] take on personal finance from Mr. Tobias. He keeps his observations and teaching interesting, yet gives you enough information to be helpful.