Planning Fire

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Show Notes

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Welcome to my next book review series. This time we are looking at The Only Investment Guide You'll Need by Andrew Tobias. That is a pretty big claim to make, considering investments can be complicated and hard to grasp but we will work through it and see how it goes!

Part One: Minimal Risk

We open with some interesting statistics, basically, investing advice needs to change as the market changes. If you put $1000 in savings in 1981, in 2 years you would make $336 in interest, in 2016 however, you would only make $20. So your savings is actually losing you money vs inflation.

Part one opens with some of the old get rich quick schemes, some of these I find pretty funny. Back in the 80's there were people touting investing in Mexican banks at 12% interest vs the 5.5% (I wish!) you would get in savings in the states. However, what they did not mention was the highly volatile nature of the Peso, most people lost over 50% on their capital in a few weeks. There is this really interesting idea that learning more MAY NOT make you a better investor! It makes a lot of sense, most money managers actually perform worse than the market average. Monkeys given a handful of darts perform on average the same as a professional money manager. Consider that next time you are paying someone 1-3% of your portfolio every year.

What is Planning Fire?

Spencer, Chris, Laura, and Sean meet up to discuss their business ideas and report on how their journey to financial independence is shaping up. This show covers all wealth development and financial independence (FIRE) topics. We would love your ideas and to join the discussions!