The Only Investment Guide You'll Ever Need [Paperback]

Andrew Tobias (Author)

Book Description

Publication Date: January 1996

Thoroughly revised and updated, a new edition of the classic financial planning handbook furnishes guidelines for investing in insurance, stocks, bonds, real estate, collectibles, and more, along with information on taxes, budgeting, pensions, and other vital topics.

Editorial Reviews

From Library Journal

You've probably got the original it was a million-copy best seller so here's a revised version covering new laws and the joys of the Internet.
Copyright 2001 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

From Booklist

Tobias wrote The Only Investment Guide nearly 20 years ago, and it instantly became a best-seller. Over the years, it achieved status as an investment classic, even though Tobias had to renege on the title's promise, offering follow-ups with such qualifiers as "still the only . . ." and "the only other . . . ." He has revised and updated his guide, noting that when the first version came out, checking accounts did not pay interest, there were no ATM networks, and the average trading volume on the New York Stock Exchange was almost 12 times less than on a slow day now. Even taking into account all the changes, Tobias' basic advice remains the same: keep it safe and keep it simple. Irreverent (and sometimes flip) and entertaining, Tobias serves up his tips with iconoclastic common sense. David Rouse

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Product Details

• Paperback: 221 pages
• Publisher: Harcourt; Rev&Upd edition (January 1996)
• Language: English
• ISBN-10: 0156003376
• ISBN-13: 978-0156003377
• Product Dimensions: 7.9 x 5.1 x 0.6 inches
• Shipping Weight: 9.6 ounces
• Average Customer Review: 4.5 out of 5 stars  See all reviews (118 customer reviews)
• Amazon Best Sellers Rank: #3,118,375 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

157 of 161 people found the following review helpful:

4.0 out of 5 stars A good place to start, September 11, 2002

By 

Chris J. Hudson "Chris Hudson" (San Antonio, TX, United States) - See all my reviews
(REAL NAME)   

This review is from: The Only Investment Guide You'll Ever Need (Paperback)

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.

75 of 78 people found the following review helpful:

5.0 out of 5 stars listen up kiddos, don't get too greedy, January 15, 2005

By 

Paul Skinner (Manassas, Virginia United States) - See all my reviews

This review is from: The Only Investment Guide You'll Ever Need (Paperback)

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).

70 of 74 people found the following review helpful:

5.0 out of 5 stars Don't Buy a Boat, August 19, 2005

By 

takingadayoff "takingadayoff" (Las Vegas, Nevada) - See all my reviews
(TOP 1000 REVIEWER)   

This review is from: The Only Investment Guide You'll Ever Need (Paperback)

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.