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The Only Investment Guide You'll Ever Need

3.92  ·  Rating details ·  3,349 ratings  ·  243 reviews
The Only Investment Guide You'll Ever Need . . . actually lives up to its name.” — Los Angeles Times

“So full of tips and angles that only a booby or a billionaire could not benefit.” — New York Times

For nearly forty years, The Only Investment Guide You'll Ever Need has been a favorite finance guide, earning the allegiance of more than a million readers across America. T
Paperback, 320 pages
Published April 26th 2016 by Mariner Books (first published 1978)
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Average rating 3.92  · 
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 ·  3,349 ratings  ·  243 reviews

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Jan 19, 2008 rated it liked it  ·  review of another edition
i learned few key things from this book:

1. wedding rings depreciate in value and you are better off getting a matching IRA.

2. you should always buy in bulk.

3. never trade commodities.

4. investment professionals don't know much more than you and those who do, you don't have access to them.

5. in general,i learned to buy things that appreciate (mutual fund, savings accounts, homes) than things that depreciate (clothes, cars), not that i can buy anything at all at this point.

this was very helpful bo
Nov 05, 2020 rated it really liked it  ·  review of another edition
Tobias packs a lot into this book and it’s not like having to take a spoonful of icky medicine. He is practical, conversational and very good at explaining.

Even if you are getting some financial advice, Tobias helps you to frame the questions you should be asking.

My copy is about 15 years old but still relevant on most issues. The biggest weakness? Right now interest rates are near all-time lows. His discussion of annuities (and, perhaps, other related matters) does not take this fact into acco
Apr 23, 2012 rated it did not like it  ·  review of another edition
Shelves: investing
I really didn't like this book as an introduction to investing, primarily because it does not talk at all about asset allocation and does not really suggest a complete strategy. The previous two books I was reading, The Investment Answer: Learn to Manage Your Money & Protect Your Financial Future and That Thing Rich People Do were much better in my opinion, and also much shorter (around 100 pages).

But other problems with this book were:
- It barely talks about diversification
- Too much emphasis o
Nov 27, 2016 rated it really liked it  ·  review of another edition
In order for you to learn anything from an investment book you have to be able to pay attention. This simply isn't possible while skimming over a bunch of formulas, figures, and boring advice. At least for me it's not.

This book is funny. It teaches you not just how to play but if you should be playing at all. Andrew isn't trying to push a specific strategy instead he's trying to give you the tools to choose one for yourself.

Feb 21, 2013 rated it really liked it  ·  review of another edition
Crossposted from:
Here is a test. Suppose you had $100 in a savings account that paid an interest rate of 2% a year. If you leave the money in the account, how much would you have accumulated after five years: more than $102, exactly $102, or less than $102?

This test might seem a little simple for readers of The Economist. But a survey found that only half of Americans aged over 50 gave the correct answer. If so many people are mathematically challenged, i
Jan 29, 2011 rated it liked it  ·  review of another edition
This is a good book if you want to get a brief overview of all of the investment vehicles available to you. It did clarify for me what short-sales are, how options are different, etc. I recommend it for anyone wanting to understand just what is out there for investing.

I will give a break down of his book:

1- Saving money is imperative. Don't be stupid and spend it carelessly. A good 50 pages is devoted to money saving tips. Just want to reiterate that a dollar saved is as good as 2 dollars earned
Chad Warner
Dec 16, 2008 rated it it was ok  ·  review of another edition
Recommended to Chad by: Chad Brouwer
Shelves: finance, non-fiction
I was expecting a very basic, shallow primer on investing. I was pleasantly surprised to find many areas of the investing world covered in this book. Although this book has been updated many times since it was originally published, the 1990s copy I read was still pretty dated - the author kept saying things like "if you have a computer" and "if you're on the Internet".

I liked many of the author's points and topics:
A penny saved is two pennies earned, when you count time and taxes.
Dollar-cost ave
Jul 07, 2020 marked it as didn-t-finish  ·  review of another edition
Shelves: buddy-reads
Buddy reading this and I decided this was destined for donation. Got to page 20 and the stupid was overwhelming. There are better investment books out there. Read them, not this.
May 13, 2015 rated it it was amazing  ·  review of another edition
Shelves: non-fiction
I took a personal finance class in college that I thought was the best thing ever. It covered a lot of the same material (large purchases (cars, homes), insurance, retirement, estate planning, family budgets, etc.). When describing the class' textbook, the teacher said that all personal finance textbooks are terrible, but the one he'd chosen was the least awful. He should have gone with this one, which came to me as a recommendation from my finance-savvy mother. Tobias is fun and funny and just ...more
Aug 25, 2018 rated it really liked it
This really is NOT the only investment guide you'll ever need. As other reviewers have mentioned it leaves out a lot of the important basics (diversification, AA etc). However, is the first book I've read that discussed more interesting topics like options, futures, LEAPs, P/E ratios, shorting etc

The first part of the book was about being frugal.

Buying in bulk for things you are going to use anyway is an instant tax free return on your money. Let’s say you spend $1000 to buy all of your items i
May 30, 2018 rated it really liked it  ·  review of another edition
8/10 for an investment book. Wish I had gotten my hands on this book sooner. For people who want to be financially sound, not for those who wish to get rich quick.

Most investment books are written so that the writer can brag about his/her “winnings”. Rarely do they discuss their failures or the realities of investing. Any book that claims to “make you rich quick”, is BS.

I expected this book to be BS, but it was the opposite. Tobias demonstrates the risks of investing, through his own personal e
2.5 stars Very simplistic and entry-level look at investing. If you need the most basic of basics, this book will be good for you but if you know enough about finance to know such things as the difference between a traditional and Roth IRA you probably won't find much new information here.

I'm pretty much as frugal as they come but some of the 'how to save' suggestions were too much for even me. Examples: You don't need a sandwich bag because that plastic bag that your shirt came back from the d
Alex Pal.
It's an ok book, it has the basic about money. Save, spend bellow your means, and invest in cheap fix costs index funds. I am not sure that if you need to read only one book this is it, but definitely, it was a pleasant read and the advice is accurate for the person who does not want to be an investing professional.
Matthieu Huard
Good book, covering a lot of topic and give great advice. However a big piece of it is relevant only if you live in the US.
Saurabh Jha
Sep 10, 2020 rated it really liked it
This gratuitously titled book explains in an easy-to-understand language the simple rules of personal money management. It does not contain much financial jargon and it is more about how one can save money, how to grow it, and so on.

This book is divided into three parts: personal savings, retirement accounts, and stock market. Rather than being a comprehensive overview of each area, it contains a simple explanation of how these work and how one can use them to improve their financial present and
Aug 13, 2020 rated it really liked it  ·  review of another edition
The title is fitting for the book. If you were to buy only one book on investing, this would be a good choice. It's written for the average person who is looking for financial security for the duration of their life. The writing style is very casual, and the book goes over the long term investing most people should consider.

It covers pretty much all the different types of things that can be invested in, gives warning stories about people trying to get rich quick, details the risks and advantages
Nov 22, 2008 rated it liked it  ·  review of another edition
Shelves: nonfiction
The string of useless personal finance books continues. Ok, that's a little harsh. Tobias's work isn't useless. It's actually decent in that it covers the necessity of frugality, budgeting, long-term planning, and investing. If you follow his strategies and advice, you will be wealthy when you're ready to retire.

He includes a lot of practical information about where to find the best credit cards, cheapest travel arrangements, easiest ways to invest your money, and countless other pieces of infor
Lesley Looper
Feb 05, 2019 rated it really liked it  ·  review of another edition
This was an informative read! I especially liked the sections on investing and retirement saving, since I'm working on learning more, saving more, investing more. (Tobias is a fan of mutual funds, which was interesting and good to know.)

In addition to learning more about money, I learned a little about Hetty Green, the "Witch of Wall Street," and want to read up on her!!
Beth Robson
Aug 16, 2019 rated it really liked it  ·  review of another edition
Good advice to follow! Compound compound compound
Gopal Sadagopal
May 16, 2020 rated it really liked it  ·  review of another edition
Shelves: non-fiction
Very thorough; a must read for beginners. Lots of practical tips.
Dec 02, 2019 rated it really liked it  ·  review of another edition
This book is one of the better books on investing you will find. The author realizes that other books offer and tries to bridge the gap and give his readers more or less what you really need to know. I love how he gives practical advice on how, when, and where to invest. While his book is a little bit of a giant encyclopedia of information covering way too much and a little too broad, his overall goal was met.

In the author's words "Even if reading this book can save you 1000 a year, isn't it wo
Dan Becker
May 02, 2016 rated it it was amazing  ·  review of another edition
This is one book that is continually updated, not to change the wisdom, but rather, to deal with the changing world.

I have read this book every decade since its release back in the 70s. As a young student, I enjoyed its sound advice. As a repeat reader, I enjoyed the application of the wisdom to current situations.

For example, here is the wisdom. Avoid get-rich-quick schemes. Avoid high-risk. Avoid high-cost. Spend less than you earn. Economize where you can. These seem to be self-evident. Howe
James Frederick
Jun 15, 2018 rated it it was amazing  ·  review of another edition
It is kind of arrogant to come out with a book with a title like this. After having read it, though, I think that the arrogance may be warranted. I REALLY liked this book. It is definitely one of the best investment guides I have ever read and it is chock full of excellent advice and information. It made me think of financial matters in a whole new way. I liked the author's tone, which was very much down to earth and included healthy doses of humor, from time to time. Let's face it...the subject ...more
Feb 22, 2007 rated it it was amazing  ·  review of another edition
This book is great as a financial primer. This isn't like the other finance books which tell you how to make a killing in the market or buy investments to make you a millionaire ("first, get a million dollars...").

This book is great book to teach simple sound financial principles that we all should already but most of us don't. It is should really be titled "A practical financial guide so you won't have to eat cat food when you are 65 and will have the money to do what you (reasonably) want to d
Apr 02, 2018 rated it really liked it  ·  review of another edition
Good overview of investing. I like the author's explanation of the book. The only guide you'll ever need but that doesn't mean there aren't other good ones out there or that it's the only one you would ever want to read. He just gives you all the tools you will need. I agree with him for the most part.

But I would still recommend to continue to read to get other advice.
Samantha Cira
Sep 14, 2007 rated it really liked it  ·  review of another edition
Shelves: finance
This book is a really nice intro to personal finance.
William Frick
Mar 22, 2018 rated it really liked it  ·  review of another edition
Practical introduction into the world of investing.
Pete Klein
Jul 19, 2019 rated it really liked it
Great book, great resources. Highly recommend if you are any level of investor, beginner to Pro.
Vikash Anand
Aug 14, 2019 rated it really liked it  ·  review of another edition
The Only Investment Guide You Will Ever Need by Andrew Tobias is a book that give holistic view of almost everything related to financial planning i.e. saving & investing, equity market, mutual funds, index funds, tax implication, professional investment, retail investment, insurance etc.

The Part One of the book deals with tips & tricks to save intelligently using various avenues available in the market i.e. eat cheaper, buy only things which is really required & wait at least 48 hours before or
Dmitri Poletaev
May 13, 2017 rated it did not like it  ·  review of another edition
What an idiotic set of advices!

When I took a sample, I liked it and decided to "invest" 10 bucks and buy the whole book. OMG, how stupid that decision was. The author's frugality is rather of an epic proportions! I was laughing out loud when he suggested how you should stockpile canned food and other junk under your table, if you don't have a basement. And real test came to life when the author started to talk about insurance. Unfortunately for him that is my specialty. And I can tell you, sugg
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45 likes · 3 comments
“YOU HAVE some money in a savings bank; you are contributing to your company’s 401( k) at the maximum rate allowed; you have equity in a home, if you want it; you’ve tied up $ 1,000 in bulk purchases of tuna fish and shaving cream; you have lowered your auto and homeowner’s insurance premiums by increasing your deductibles; you have adequate term life insurance; you’ve paid off all your 18% installment loans and insulated your attic—you have done, in short, all the things that scream to be done. Now what?” 0 likes
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