Charles Schwab's Guide to Financial Independence: Practical Solutions for Busy People

by Charles Schwab

When it comes to investing, most of us know where we'd like to be but not how to get there. We'd like nothing better than to sit down with an experienced professional who could help us evaluate our assets and guide us through the bewildering array of choices. Charles Schwab's Guide to Financial Independence offers you precisely that. Reading this easy-to-understand book is like having the founder and CEO of a $300 billion brokerage firm sit at your kitchen table and distill his 40-plus years of accumulated wisdom in a one-on-one session with you.

This is a comprehensive, step-by-step guide that, once and for all, will take the mystery and the fear out of investing. With Charles Schwab's expert guidance you will learn how to define and set investment goals, whether you're saving for your children's college education or planning for retirement; prepare an investment plan; put the plan into action; and regularly update the plan to incorporate life's changes. Helpful worksheets and charts are included so you have what you need to get started immediately.

Also available as a Random House Audio Book

Genres: Finance, Nonfiction, Self Help, Economics, Business

269 pages, Paperback

First published January 1, 1997

Reviews

[Brad · Rating 3 out of 5]

Probably 2.5 stars. This was loaned to me by an older friend who taught a brief 1hr personal finance session at church when I asked about next steps after having an emergency fund, appropriate insurance, etc. It has some good advice about investing and would probably be a great place for someone to start with no prior information about where to begin.

I feel like I’ve got an awkward level of knowledge—I’ve got a good sense of the basics (why, risk / reward of particular investments, buy and hold investing typically FTW, etc), but struggle with concrete next steps for building my financial plan. I would have hoped for more of this in the book.

Also of note, I read the 1999 edition of the book. It’s been 20 years, and some parts of the book aged more gracefully than others. He talks a lot about the Internet and how it’s a great resource to learn about companies and to do some investing. Yup. I also chuckled reading the data from 1999 about college costs and median home cost. Lots of changes in both of those markets in 20 years.

He didn’t overly plug his business, which I appreciated, but did reference appropriately.

I suspect I’ll find other personal finance books more useful than this one.

Rating: G

[Preston · Rating 4 out of 5]

This is a really good book for my stage of life. Debt almost payed off and ready to make some serious investments soon. Charles Schwab keeps it simple while explaining important concepts on financial literacy.

[Amy · Rating 4 out of 5]

Even though it was published in the late nineties, this is still relevant and helpful. I got a free copy not long after this came out and I wish now that I'd read it sooner.

[Brad]

Best guide to personal finance.

[Jordan Mcculloch · Rating 4 out of 5]

Check out my video review of this book! YouTube link down below!

https://youtu.be/4xFd1tT9vhQ

[Marsha · Rating 5 out of 5]

Basically Charles Schwab's book tells you how important it is to invest. He says that although it is important to save money, it is just as important to try and get your money to grow and work for you. Having it in a bank savings account, for instance, only relies on the interest of the banks. In essence the money loses value with inflation. He suggests mutual funds, stocks, IRAs and other ways to have your money work for you. He gives examples of how to be an aggressive investor, which he says he is, or one that is average or safe. He says that you do have to do what works for you. The market tends to go up and down and if you are going to be very anxious and worried about that, then obviously aggressive investing might not be right for you. He suggests learning as much as you can about investing by reading books and magazines about investing. He suggests joining an investment club. He says that he only recommends seeing an investment counselor if you have a minimum of $100,000 to invest. Otherwise, it is better to learn on your own and with an investment club and by taking classes, etc. Mr. Schwab's book is written in very easy, layman terms. I enjoyed it a lot.

[Johnny Galt · Rating 4 out of 5]

Very good information for basics and beginners. I do not do a whole bunch of investing and because the edition I read was from 1998 I can't say how relevant it is to current times. Still, I feel this book is a worthwhile read since he breaks everything down in a very digestible way. Much of his advice I can tell is tried and true reliable. Still, the way things are in 2012 when I read this book, it is hard to be confident that our economy will grow steadily. The ups and downs of the current economy can be frightening over and beyond the trepidation he recognizes and advocates to overcome.

[JP · Rating 5 out of 5]

Chuck Schwab always seems so genuine in his attempts to help Americans save for their future -- not for the sake of a portfolio but for what it makes possibles for families and individuals. This is a nice overview and a guide for the beginner or novice. In particular, in emphasizes the basics of a fundamental approach, watching for tax effects, handling the emotions of the ups and downs of the market, and using common sense. Our future would be better if everyone would read this, take it to heart, and follow the advice.

[Venus · Rating 3 out of 5]

I'm an investing novice, and before reading this book would have struggled to explain the difference between a mutual fund and a stock. I was in a seriously sad state! This book, however, offered super simple, yet incredibly helpful, basic financial planning information. I highly recommend it for anyone looking for a guide to basic investing.

[Patrick Costello · Rating 4 out of 5]

Schwab stresses that we all need to invest because not investing means losing so much of what we earn and not having enough once we want to retire. If all Americans invested like Schwab recommends we would be so much better off as a country. Good read for the investing novice and to familiarize yourself with the essential basics of responsible investing.

[Dina · Rating 5 out of 5]

This is so basic and straightforward. I was the busy person he is addressing in the title. I just did what he said, no questions asked, and benefited tremendously.

[Charlane · Rating 3 out of 5]

Helpful investment and financial planning information.

[Kristine · Rating 3 out of 5]

It was OK. It was a good review of different investment options. Considering the source, I wasn't surprised that the author really promoted the Schwab mutual funds. Generally a good book.

[Rich · Rating 3 out of 5]

It's okay. A lot of information is outdated, but the core concepts are so basically the same.

[Stacy · Rating 4 out of 5]

Good basics.