Reddit Reddit reviews The Only Investment Guide You'll Ever Need

We found 13 Reddit comments about The Only Investment Guide You'll Ever Need. Here are the top ones, ranked by their Reddit score.

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The Only Investment Guide You'll Ever Need
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13 Reddit comments about The Only Investment Guide You'll Ever Need:

u/russilwvong · 6 pointsr/PersonalFinanceCanada

In your situation (single, making $350K/year), plowing most of your income into savings makes perfect sense. Income is much more volatile than it was a generation ago. Peter Gosselin.

Andrew Tobias (The Only Investment Guide You'll Ever Need) suggests practicing delayed gratification--you get a surprising amount of satisfaction from having something to look forward to, not just from the thing itself. You want to have a standard of living that gradually increases over time, not one that's flat or declining. It doesn't make sense to have EVERYTHING RIGHT NOW, because then you wouldn't have anything to look forward to.

I like to use a hypothetical budget. Pretend that you make only $65K/year, and you're saving 10% of that (putting $6500 into an RRSP). According to this tax calculator, your after-tax income would be about $53,000. $6500 of that goes into savings, leaving $47,000 for spending. Then figure out how you want to allocate that money. Over time, you can gradually increase your hypothetical budget.

The other reason for restraining your spending with a hypothetical budget is that it makes it far faster to achieve financial independence (the point at which your investment income, at a 4% or 5% nominal return, is enough to cover your annual spending).

Dating may also be easier if your lifestyle isn't too extravagant. It's probably easier to relate to someone who has a regular middle-class lifestyle, not some crazy rich-person lifestyle.

For more on how rich people often maintain a regular standard of living, see The Millionaire Next Door.

More specific budgeting advice: you may want to review your transportation budget. If you buy a new car for $30,000 every five years, you probably want to allocate $6000 each year, not zero for four years and then $30,000 in year five. Your repairs and maintenance budget also seems low.

u/Wild_Space · 4 pointsr/personalfinance

First step is to determine your time horizon. From there, you can determine how much risk you want to take on. If you wont need the $2,000 until retirement, then you can afford to be rather risky and go 100% into a stock market index. If you're going to need that money at graduation, then you're probably better off putting that money into a savings account and investing in some personal finance books.

I recommend The Only Investment Guide You'll Ever Need as recommended by Mark Cuban.

u/smaug777000 · 4 pointsr/IWantToLearn

I'm biased towards



Investopedia helps to understand the specifics, but really ask yourself, what do you want to do with this knowledge? That's an easier question to answer than "how does all of wall street, finance, and banking work?"

u/riskeverything · 4 pointsr/FinancialPlanning

I recommend 'the only investment guide you'll ever need' by andrew tobias. I read this about 20 years ago and am now financially independent and retired early thanks to its advice. He updates the book regularly. You can read the other reviews on amazon to see that its helped a lot of people. The book is aimed at the beginner but gives very solid advice. (I went on to read a ton of financial books over the years and the advice is backed up by many other excellent financial books). The book is aimed at the beginner and concentrates on what you need to know. I like the fact that he's very direct in his approach. For example for some very advanced and risky investments, he says 'don't even think about it'. Its written in an easy to read, kind of humorous style and you can read it in a few hours. He deliberately only puts one graph in the book. It worked for me.

u/johnsmithindustries · 2 pointsr/personalfinance

I'm finishing up school as well, and have recently gotten into personal finance. I read blogs like The Simple Dollar and Get Rich Slowly on a daily basis. They have large, search-able archives and are full of free information and tools that relate to personal finance. Wonderful resources.

If you're looking for good books to read I'd like to recommend The Millionaire Next Door. By far my favorite, this book completely changed my thinking about personal finance.

Some others:

The Only Investment Guide You'll Ever Need

The Boglehead's Guide to Investing

The Automatic Millionaire

See if your library has any! Oh, and here's a longer list from GRS:
Building a Personal Finance Library: 25 of the Best Books About Money

u/mule_roany_mare · 2 pointsr/BuyItForLife

by far
Everything you need to know could fit on an index card, but this book really breaks everything down. You'll be amazed at how simple it is once you understand.

As an example of debt being good, I bought an apartment in a building which was so distressed (and helped turn it around since) that banks wouldn't give a loan. I had to raid my retirement & buy in cash.

So instead of paying 50k upfront & a 100k loan at 2%, I paid 150k upfront.

Had I taken a mortgage I would have paid $2,000 for the privilege of borrowing 100k, but I would have also been able to leave the 100k invested and made $6,000, for a net profit of $4,000.

Debt is a tool, it lets you take opportunities you wouldn't be able to otherwise. If you wait until you can afford something you lose out on it's benefit the whole time you are saving, and if it means you have to instead rent in the meantime you not only lose the benefit, but pay a premium for the privilege.

Inflation reduces the value of a dollar by 2% every year. So 100$ worth of stuff today will cost you 102$ next year. If you are saving you are also chasing a moving target.

Having debt (and paying it off) also proves that you are trustworthy & banks can give you a good rate at 3% instead of 9% when they worry you won't pay it back.

Debt is a tool, and if you use it to buy things which make you money it's a good bet. If you use it to buy things which cost you money/lose value it's a bad bet.

Since I own my apartment now I could take a loan against it (and probably should set it all up now). If I can get a loan at 3.5% I could then invest that money & get 7%, net 3.5%. Of course there is risk involved in this, but over a long enough period you might as well bet on the economy since if it crashes & never comes back you have bigger problems anyway.

If you live in NYC I can lend you my copy of the book. I've bought it for a half dozen young people I care about as it was really illuminating for me & answered soooooo many questions I didn't understand well enough to ask. Everyone I know has a lot of anxiety around their finances, but this will show you how to think about money & what is worth the effort/what isn't worth worrying about.

u/gabihg · 1 pointr/personalfinance

If I were you, I would put as much money towards college as you can. The less debt that you have the better in the long run. I'd also open an IRA. If you were to put in $10/month now, it would drastically compound later. Here is a [link] ( to visually show you compounding.

I'd also suggest [this] ( book. It's $10 and is well worth the money.

It's great to save for retirement and not have debt but no one has mentioned budgeting. Learning to budget is really important.

I'm 25 and started saving a few years ago. I get to go out for coffee and drink with friends when I want, but I still save 1/3 of pay checks for retirement/ savings.

Instead of buying lunch 5 days a week at work, I bring my own lunch 3 days a week. Let's say a meal is $7.

$7X5 days=$40/ week. $40x52 weeks= $2,080/ year.

$7x2 days=$14/ week. $14x52 weeks= $728/ year.

That saves me an extra $1352 to go out, to travel with, to pay off debt or to retire. Buying coffee at Starbucks daily is great but adds up.

You can work smart now and enjoy retiring at 50 or travel the world simply by being smart about your finances.

u/nimbycile · 1 pointr/FinancialPlanning

The Only Investment Guide You'll Ever Need has a chapter specifically for winning $1m. It's advice is pretty good. Don't buy a boat.

u/vorxaw · 1 pointr/personalfinance

I highly recommend this because it's a really accessible read, and it go over some things that are beyond investment

u/redditors2013 · 1 pointr/personalfinance

Here are the first two I read to get you started, I'll see if I can't dif up the others:

u/unusedusername3 · 1 pointr/personalfinance

I thought this one summed up many things nicely:
Only Investment Guide You'll Ever Need by Andrew Tobias
Contrary to it's name, it has more to do with personal finance than investing.

u/ass_munch_reborn · 1 pointr/AskReddit

Hmmm.... I learned my investing on the streetz!

A good all around book is called - which is great, but I don't remember how much this has in terms of investment material:

And this book looks promising: