It Pays To Talk

Version: Abridged
Author: Carrie Schwab-Pomerantz , Charles R. Schwab
Narrator: Carrie Schwab-Pomerantz , Charles R. Schwab
Genres: Business & Economics, Personal Finance
Publisher: Random House (Audio)
Published In: December 2002
# of Units: 4 CDs
Length: 4 hours
Ratings:
Tell Your Friends:

Overview

Does your family talk about money?

Do your kids understand your money values?

Do you and your mate agree on how you spend and invest your money?

Do you know if your parents are financially secure?

These are the questions that Carrie Schwab-Pomerantz and her father, Charles Schwab, ask at the beginning of this invaluable family financial primer. The authors acknowledge that these are difficult questions but stress that families must grapple with them and come up with answers.

Despite the proliferation of the financial news media, money remains a taboo subject in most families. Often the mere thought of talking about money with a family member causes enormous personal stress and confusion. But it doesn't have to be that way. The goal of this father-daughter collaboration is to bring solid financial advice into the context of family, where it can be explored, understood, and implemented to the benefit of everyone.

The first essential thing that must happen is conversation, and It Pays to Talk is filled with advice about how to start talking. The authors are both working parents with a combined sixty-five years of knowledge and experience in the investment field. In this book they present a road map that every family can follow as they develop and implement an investment strategy and money-management plan.

They begin by covering the fundamental principles that every investor needs to understand in order to succeed for the long term, and then they move on to cover joining forces in marriage; building your family's wealth regardless of market conditions; investing for your children's future and raising money-savvy kids; retirement planning; estate planning for you and your parents; and dealing with the unexpected—insurance, divorce, and investing a windfall. Throughout the book, the authors offer advice about how to start the often difficult conversations that lead to smart decision-making, as well as how to talk gently, intelligently, and respectfully about the many issues that define and shape our attitudes about money.

It does pay to talk. This valuable and expert book will get you started and help you at every stage of your family's investment career.

Reviews (2)

General

Written by Doug from Columbus, OH on January 2nd, 2008

  • Book Rating: 3/5

Basic stuff, some good clarification on 529 plans versus Coverdale accounts and just the usual stuff on diversification in the market, insurance, wills, etc.

Very Good

Written by Michael Reynolds from New Port Richey, FL on April 28th, 2007

  • Book Rating: 5/5

I'd Liked to had this book 30 years ago, well worth the time to listen.

Author Details

Author Details

Schwab, Charles R.

"CHARLES R. SCHWAB is the founder, chairman, and co-CEO of The Charles Schwab Corporation, one of the nation?s largest financial services firms (www.schwab.com). He is a member of the board of trustees of Stanford University, where he earned his B.A. in economics and his M.B.A. from the Graduate School of Business. Author of the bestselling Charles Schwab?s Guide to Financial Independence, he is also the cofounder and chairman of the Schwab Foundation for Learning, a nonprofit agency providing support and guidance for parents of children with learning differences, as well as chairman of All Kinds of Minds Institute, a nonprofit institute dedicated to the understanding of differences in learning. He is the father of five children and lives with his wife, Helen, in the San Francisco Bay Area"