The Only Investment Guide You'll Ever Need

If you haven't read this book, you should. If you have read it, you should be doing better financially than before you read it. If you have read it and you are not doing better, you didn't learn anything, or didn't have the sense or the discipline to apply what you read. I don't know whether or not it is really the only investment guide you'll ever need. That may depend on how much money you need to worry about managing. But it seems like a pretty sound one for the average person who wants to use money more sensibly and plan for the future without doing extensive research or daily monitoring. A modicum of common sense and a fair amount of discipline are the primary prerequisites for following Tobias's advice. If you have those, and you are interested in putting your money to work for you, you will find that Tobias has advice that is both sound and reasonably simple. His basic advice: regular investment in a no-load mutual fund is the best way to go for most people who want to do something more with their money than leave it in the bank and wonder. But there is a lot more in the book than that (it doesn't take 300 pages to deliver that message, even though he does deliver it more than once), from an opening chapter designed to save you $1,000 a year on everyday expenses, to details about brokerages, investment instruments, and much more. Adding to the appeal of the book is Tobias's writing style, combining clarity, knowledge, and humor. It really is enjoyable to read, which a person like me would not be predisposed to say about an investment book. I should have read it 30 years ago (the first edition appeared in 1978 and there have been several revisions since then; this 2010 edition says it is completely revised and updated), but perhaps it is not too late for me to get a little bit smarter.

The book has a lot of good information. I wish he went further into the reasons why index funds are superior to actively managed funds over the long-haul for the vast majority of investors. He does say this, although he uses the term "mutual fund" too often to describe them.There is an obvious liberal slant throughout the book but it gets to an absurd level at the end of this latest addition in the section about the national debt and the deficit. It seemed to slant the truth by mentioning Bush tax cuts for the millionaires and billionaires and not mentioning the tax cuts were for every tax payer and then says Obama cut taxes for 95% of American taxpayers. While both of those statements are true by themselves the way they were presented was dishonest in my opinion. He also goes on about the rising debt for the nation under Republican Presidents and then makes no mention of Obama's spending which was already at historic levels at the time of publication. While I think we can all agree that spending needs to be brought under control, to lay the blame almost entirely at the hands of Republicans is absurd and takes away from the better points of this book about investing.The next version should stick to the subject manner and leave out the bias.

I checked this book out at my library after reading an interview with Tobias in a financial magazine. I am in the accounting/finance profession and have read lots of investment books over the years. This is the best -- by far!I promptly bought my own copy and have been reading and highlighting since. Tobias is a gifted writer with a knack for distilling complicated financial topics down to simple explanations and recommendations, without talking down to his readers. He steers people away from investments they should avoid (commodities, collections -- unless you're an "expert") and recognizes the time/reward trade-offs of financial and investment decision-making. I found his advice to not obsess over the differences in returns at most banks (pennies -- why bother?) and to not flog yourself if you forget to write down every last expense refreshing. He's succinct, funny, and disarmingly self-deprecating.Tobias doesn't try to "dazzle with detail" -- the book is appropriately detailed to make the case for simplified, low-cost investing, but not so burdened by charts and graphs that you grow quickly disinterested. He shows great respect for his readers. I'm going to get this book for several young people in my life who are just starting out.

I have been reading the various editions of this book since the first one was published more than 20 years ago. Tobias is a terrific writer. So much so that this book would make entertaining reading even if you completely ignored the advice it offered. 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. Tobias's theme is that the route to financial success lies in spending less than you earn and investing the difference safely. In some ways, this amounts to advice that we already know. But Tobias separates himself from competing authors by the forceful and witty way he spells out these points, and the equally forceful and witty way he explains how the various get rich quick schemes propounded in so many competing books are likely to make the authors of those books rich, but not their readers.So, if you are looking for a comprehensive introductory guide to managing your money, look no further.

It's a good guide on how to plan for retirement and gives specific steps to follow. Our only complaint (and this may not be a negative for everyone) was that the author devoted quite a bit of the book to explaining how to "live small" which is good advice, but the book was advertised as an investment guide. He does finally get to the investing part. (As I said, the initial advice may be beneficial to others, but we were already living that way). The investment strategies are sound and well laid out. The advice is definitely from a qualified source. It's well written and easy to understand, even if you don't have a background in economics, banking, investment . . . definitely written for a broad audience. Yes, we do recommend it.

A great book for people interested in getting into investment. Goes through all ways to save money and make the most out your money.

Very dry, some good tips but overall quite a dull read.

I highly recommend this book to anyone who doesn't know where they spend their money. I made decent money, but didn't know where it all go. This book begin by teaching me how to set a budget, and control my spending. Remember, to make money with money, you must first learn to save money. This book massively simplify the investment world for me, and it the first of many investment book that I eventually read.I highly recommend this for people that are starting their investment career, however it doesn't go into too much details on any particular subject.

Se volete gestite da soli i vostri risparmi, se non volete cadere nella trappola del risparmio gestito....leggetelo.Purtroppo libri di economia e finanza divulgativi (come questo) in Italia sono pochissimi.Quasi nulla arriva della immensa e valida letteratura anglosassone.Per questo una discreta conoscenza dell'inglese è d'obbligo......

Lots of information written in a friendly, conversational style makes this an enjoyable read. One of the best investment books I have read so far.