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The Only Investment Guide You'll Ever Need (平装)
by Andrew Tobias
| Category:
Personal finance, Personal wealth, Investment, Self help |
| Market price: ¥ 158.00
MSL price:
¥ 128.00
[ Shop incentives ]
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| Stock:
In Stock |
MSL rating:
 Good for Gifts |
| MSL Pointer Review:
Packed with great investment, tax and cost saving tips, this investment classic is a great introduction to personal finance. |
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AllReviews |
1 2   | Total 2 pages 12 items |
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Cota (MSL quote), USA
<2007-01-12 00:00>
As a young and overwhelmed newlywed twenty-some years ago, I read The Only Investment Guide You'll Ever Need. It was clear, fun to read, and full of good advice. I was recently surprised to see it is still in print, revised and updated.
If you're already the sort of person who reads personal finance books, it won't be the only one you'll read, but it may be the one that holds up the best over time. Tips such as "invest" in staples such as coffee when they are cheap and ride out times of inflated prices by using your surplus are as useful today as they were in 1978. (Although if I remember, Tobias used canned tuna as the example in the earlier editions, and now uses cases of wine to illustrate the point.)
Tobias has updated the book to include investment advice that we never considered in 1978. He includes tips on how to find the best online air fares, when and when not to use eBay, TiVo, and reverse mortgages. He has some simple and effective ideas on how to make Social Security viable for the foreseeable future (without resorting to privitization). He gives specific advice to couples who are married and couples who aren't or who can't be.
One of my favorite sections is on what to do if you win the lottery. How many long drives have I passed by planning that very thing? (My first step: get an unlisted phone number.) Tobias's advice on this unlikely event is excellent, especially step 5b.) Don't buy a boat.
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David Lubin (MSL quote), USA
<2007-01-12 00:00>
Not only does Andrew Tobias suggest that readers save and invest, but also shows real ways that people can spend less (through conservation, stocking up on essentials at warehouse prices, saving money on insurance (auto, life, etc), paying yourself first, etc). Additionally, he explains investment vehicles in simple layman terms while divulging his personal opinions. All of this is done in a humorous, witty and quick read...a pleasant surprise to those of us picking up Investment Guides. Tobias truly covers it all, from savings accounts, to options and everything in between such as treasuries and annuities. He also discusses the merits of self-directed investing. It is telling that he dedicated the book "To my broker - even if he has, from time to time, made me just that." This is a must read for those seeking entry-level knowledge of the ins and outs of investing or simply a witty read on the topic. |
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Chris Hudson (MSL quote), USA
<2007-01-12 00:00>
This is a good book. Tobias' main point is that you need to start saving 10% of your income, and he also gives advice on ways to cut costs and where you can put your money. I've read a lot of investing books and some of what he said was not new to me. However, I did learn some new things. Some parts of the book that I found helpful were Chapter 5 which explains Treasuries (bills, notes, and bonds). I also liked his advice in Chapter 10 about what to do if you fall into a large sum of money (Lottery or inheritance). There are also some useful resources in the appendices in the back of the book such as contact info for discount brokers, mutual funds, a compound interest chart, and finally a quick summary of his main point (save 10% of your income). I gave the book four stars instead of five because I don't agree with ALL of his advice, for example I do not believe in purchasing rental properties (too big of a headache), and I think that home equity loans are a BAD idea. Other than that, a great book. |
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Jim McDuffie (MSL quote), USA
<2007-01-12 00:00>
I have found the advice in this book to be invaluable. You simply can't go wrong. Those looking for a book with stock/mutual fund investing howtos should keep looking however. This is a broad brush stroke at handling one's money. Period. If you are going to read this book, be sure to read My Vast Fortune as well. The two tell quite a story and show that Mr Tobias is not just blowing air between his gums. This book is eminently readable and there is just not much wrong with it. Everything from what to do if you inherit wealth, to what type of life insurance to buy, to how to buy a car, to how to use the internet to save money on staying at a hotel are covered, as well as everything in between. Read this and prosper. |
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Petrotchenchov (MSL quote), Russia
<2007-01-12 00:00>
If you are expecting to learn everything you need to know about investments from this book, you will probably be disappointed. But this book is funny and entertaining while at the same time it is packed with sound investment advice that can benefit everyone. It was a delightful read. And now my only wish is to have some money to invest! I really enjoyed reading it and learned a lot. It's a great book for a beginner who wants to know more. If that's you, you'll be satisfied after you read it.
Some things in life are worth the money. Today I save my money for those things. One of them is peace of mind. I read the book and incorporated its basic message into my daily life. Especially important is calculation of the value of saved money: a dollar (or Russian ruble) saved is one that has escaped taxes and the demands of living. As he puts it, a penny saved is two pennies earned. I remember this message as I walk through stores in Moscow. Now most of our stores in Russia are looking absolutely the same as in Western Europe.
Enjoy the book and start enjoying saving! Informative as well as entertaining, this could be the best twelve bucks you'll ever spend. Andrew Tobias makes a good introduction reading about personal finance for everybody.
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Peter Hupalo (MSL quote), USA
<2007-01-12 00:00>
The Only Investment Guide You'll Ever Need is a fun-to-read introduction to personal finance.
Tobias tells us that, due to the power of compounding, it's important to start saving early. Tobias has a great way to explain compounding to kids. Start with a cookie jar and $1. Tell the kids they can earn 10% daily on their investment in the cookie jar. (Essentially, we squeeze a year's compounding into a day). At the end of the first day, the kid 'earns' 10 cents. At the end of the second day, you pay him/her 11 cents and so on. (to get the next day's value, just multiply the previous day's value by 1.10, using your handheld calculator, or the use cheesy calculator that comes with Windows.) The kid will quickly learn how fast compounding grows money. After 30 days, he'll/she'll have $17.45 in the cookie jar.
Tobias points out that Ben Franklin grew up in a time of no income taxes and no social security taxes. Back then, a dollar saved was a dollar earned! Today, for every $1 dollar in earnings, you might pay 33% in federal taxes, 8% in state taxes, and about 7% in Social Security taxes. Added up, that's about 50%, especially if we add in a sales tax. So, for each dollar you spend, you'll need to earn $2. To buy a $20 pizza means you need to earn $40! So, effectively, Tobias says a dollar saved is two dollars earned.
The book starts by giving some money-saving tips, such as buying in bulk, insulating your house, replacing incandescent light bulbs with compact fluorescent bulbs, and cutting your own hair (I always knew I should have purchased one of those "Flow-be's" advertised on late night TV many years ago! It combines a vacuum attachment to a barber's clippers. As advertised, it said the vacuum would suck your hair in, the trimmer would cut it to the proper length - Just pass it over your head like a comb, and you're done. And, you've saved fifteen bucks...)
Tobias's discussion of bonds is as good as I've seen anywhere without going into teeth-gnashing mathematics. He discusses treasuries (bills, notes, and bonds), junk bonds, zero-coupon bonds, inflation adjusted bonds, municipal bonds, and saving bonds. Tobias suggests skipping corporate bonds and buying treasuries.
I especially enjoyed the chapter, "What to Do If You Inherit a Million Dollars; What to Do Otherwise." After discussing a Zen approach to personal finance, Tobias writes: "I believe happiness lies less in how much you have than in which way you're headed…”
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Paul (MSL quote), USA
<2007-01-12 00:00>
Andrew Tobias weaves through the dizzy world of T-bills, municipal bonds, alternative minimum taxes, and a host of esoteric personal finance topics. But the bottom line he preaches is simple: be happy living on less than you make, and save the rest in safe no load mutual funds, diversifying between domestic and international stocks. Tobias tries to assure most of us average Joes that we are a fool if we think we can outsmart the Warren Buffetts of the world, so don't go crazy speculating on individual stocks. At best, you will make a broker happy. At worst, you will lose your shirt. There now - I just saved you $14 you can add to your no load mutual fund account (lol). |
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An American reader (MSL quote), USA
<2007-01-12 00:00>
This book is easy to read, and the author's sense of humor will keep readers engaged while he guides them through some topics that are actually quite serious for your financial future. Part of this book's value is the author's many humorous anecdotes of investment schemes gone awry. Laugh, but learn. Knowing the potential pitfalls of investing may be more helpful to a beginner than anything else. Even the best advice about what to do may not save you as much money as knowing what NOT to do. If a textbook approach to personal finance strikes you as boring or too complicated, a book like this can be an excellent alternative.
While the title is a great attention grabber, please don't stop with this book. How can you know whether the author's ideas stand up scrutiny if you don't read other books with different viewpoints? Further reading is a good investment too.
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Ulla Evans (MSL quote), USA
<2007-01-12 00:00>
This is the only investment book I can get my husband to read. I gave copies of the 1987 edition to my sons when they graduated from college and I am giving them the 2005 edition as they approach 40. Tobias has been consistent with his advice over the years. He does not promise to make you rich but he gives guidelines for ending up with a comfortable retirement; partly by getting one to acknowledge what one does not know.
He helps create a saving mind set. His explanations are clear and useful even for more sohpsticated investors than I am. Plus I enjoy his sense of humor which makes for an enjoyable read.
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An American reader (MSL quote), USA
<2007-01-12 00:00>
First and foremost, Tobias has a keen sense of humor, which makes this book an enjoyment to read. In my opinion that is the most important thing because if a book is dull albeit with good advice, then you're probably not going to get much from it. The real-world examples and down-to-earth suggestions make this something for everyone, not just the wealthy. This was the first investment book that I had ever purchased. And although it isn't the only one I own, it's the one I refer to most often. I've never taken a business class, and my career is completely unrelated, but I needed something to help me plan my finances. I learned an extraordinary about from Tobias and I definitely feel confident going into the investment world.
I've since began buying this book for my siblings as a college graduation gift. I think that you can't go wrong purchasing this item. |
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1 2 | Total 2 pages 12 items |
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