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From Library Journal
Copyright 2001 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
From Booklist
Copyright © American Library Association. All rights reserved --This text refers to an out of print or unavailable edition of this title.
Browse and search another edition of this book.
Here you are, having just purchased a fat little investment guide we'll call Dollars and Sense, as so many investment guides are (although the one I have in mind had a different title), and you are skimming through idea after idea, growing increasingly excited by all the exclamation marks, looking for an investment you would feel comfortable with. Read the first page
Concordance
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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5.0 out of 5 stars
A journey of a thousand miles begins with a step,
This review is from: The Only Investment Guide You'll Ever Need (Paperback)
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.
5.0 out of 5 stars
A Great Introduction To Personal Finance,
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This review is from: The Only Investment Guide You'll Ever Need (Paperback)
"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. ..." Peter Hupalo, Author of "Becoming An Investor."
5.0 out of 5 stars
Perhaps not the only but certainly the first,
By
This review is from: The Only Investment Guide You'll Ever Need (Paperback)
Perhaps not the only but certainly the first investment guide. It focuses on basics and provides sound information. I routinely give this book as a gift typical as a Graduation Gift. It dispels many of the myths that investing is too complicated and that we should blindly hand our money to brokers. Anyone testing the waters of investing past passbook savings account should read this book first.
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