It Pays to Talk

How to Have the Essential Conversations with Your Family about Money and Investing

De: Carrie Schwab-Pomerantz, Charles Schwab

Narrado por: Carrie Schwab-Pomerantz

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.©2003 The Charles Schwab Corporation; (P)2003 Random House, Inc. Random House Audio, a division of Random House, Inc.

Heading misleading

Would you try another book from Carrie Schwab-Pomerantz and Charles R. Schwab and/or Carrie Schwab-Pomerantz and Charles R. Schwab ?

This book was misleading in it's title. I bought it as I thought it would help discuss money with loved ones. It does that for one chapter or so and then moves onto the basics of a financial plan including plugging their financial products. I played it with my husband in the car and was disappointed. It started out well with the discussion and goals subject but that was it. Then we were into working out risk profiles and managed funds vs direct stocks.
If you are looking for an overview of preparing a financial plan, then this may have good content for you. However, if you are looking for a book to help you discuss money with your spouse the first 20 minutes is the best bit.
I will declare that I haven't finished listening to the book so there may be more at the back but I don't want to listen to anymore to get there.

Has It Pays to Talk turned you off from other books in this genre?

No. I bought another book at the same time and it is excellent.

Did the narration match the pace of the story?

not applicable

What character would you cut from It Pays to Talk?

not applicable

Just another intro to investing

I really expected that this book would give some practical tips on communicating about money. I have felt the strain of talking with my wife and parents about financial matters and I was expecting this book to be of assistance in understanding stress points, ways different generations think about money, risk tolerances, and other issues around money. This book did none of those things. This is basically a "spend less and stash money away even if you have debt" book. Frustratingly enough, it is not even a good book in that genre. Don't expect any actual tips on communication.