The Only Investment Guide You’ll Ever Need

5.0 out of 5 stars
Very good and of course, a lot of common sense.
The Only Investment Guide You’ll Ever Need is a surprisingly common sense book that deals with investing and well…common sense too.

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.

4.0 out of 5 stars
Mostly true–in 2002; still useful in surprising ways.
This was the first investment book I read, and it still stands out as one of the most commonsensical, though I’m afraid at this stage of life–when questions about social…

5.0 out of 5 stars
How could you afford not to read this book?
This book is everything there is for common sense spending. You can either read this book and avoid common costly mistakes or learn it hard way by committing those mistakes…

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).

The book contains a wealth (hah!) of simple, sensible, wealth-building strategies. Perhaps even more important, it contains a wealth of simple, sensible, loss-avoidance strategies. And all of it is presented in an easy-to-read style, with humorous, self-deprecating stories that both enlighten and enliven. This is a seriously witty book!

Four points in particular that impressed me:

Tobias lists several kinds of investments that are so complex and have such a poor performance record that the only thing that most people need to know about them is that they should be avoided. That is very useful advice! Instead of wasting your time trying to become an expert in areas where even the experts lose money, you can spend your time more profitably in some other area.

Tobias examines the impact that taxes have on wealth-accumulation and proposes some simple strategies to avoid or minimize that impact, including IRA and 401(k) plans. That is very useful advice. Paying less taxes = accumulating more wealth.

Tobias discusses the effect that interest charges have and proposes some very simple strategies to avoid those too. That is also very useful advice. Paying less interest = accumulating more wealth.

Finally, regarding specific investments, Tobias provides some basic, common-sense strategies here, too. Tobias addresses some basic asset allocation issues, pointing out that some investments are very risky on a short-term basis, and it doesn’t make sense to put short-term money in a risky investment. Tobias lists a few places where your short-term money will be safe. As for your long-term money, Tobias makes the common sense observation that investment returns cannot be predicted from year to year, but investment costs can be predicted. That being the case, it makes sense to choose low-cost investments, and Tobias lists some recommendations. That is also very good advice. Paying lower investment fees = accumulating more wealth.

In short it is possible — and now, more than ever, it’s necessary! — for people to improve their financial position. This book helps show the average person how to accomplish that.

5.0 out of 5 stars
Your Financial Security is Assured
Of this book The New York Time wrote:” So full of tips and angles, only a booby or a billionaire could not benefit”.

5.0 out of 5 stars
What Can I Say That Already Hasn’t Been Said?
I just want to put in my ratings, but in terms of the review read the ones with the 5 star reviews. Granted, I haven’t read too many financial advising books, (I’ve read one…

2.0 out of 5 stars
Eh kinda sucks now
This book was the first finance book I ever read back in the 90s now. I loved it at the time. I recently boaugh a copy and it just does not grab me.

5.0 out of 5 stars
ROFL and Get Money Smart!
I bought this book in 1999 and read it annually. I always laugh out loud and recommend it to everyone I meet who is not and does not want to be an “expert” in the market but does…

5.0 out of 5 stars
One of the best investing books out there!
I’ve read a lot of personal finance books and this one has some of the best information I’ve found. If you are interested in personal finance and investing, you should definitely…

5.0 out of 5 stars
Outstanding Basic Reference
It is funny how several reviewers criticize the author’s recommendation to “not lose money”, while that is the number one rule from the richest person on the planet, Warren…

4.0 out of 5 stars
True to its title
I found this book very readable and full of excellent information. Although not all the latest vehicles are included, the information is useful for the typical investor.