Noted Author Headlines Money Expo

Money talks, and next Saturday you can hear all about it at a first-time personal finance expo, “MoneyTalk ‘97.”

The day-long event at the Spokane Convention Center will feature Andrew Tobias, noted commentator and author of the best-seller, “The Only Investment Guide You’ll Ever Need.”

Tobias, who was in Tacoma last week for a similar event, said he tries to present his insights in a humorous, anecdote-filled hour that has as much to do with building listener resolve as it does with providing information.

About half the material addresses investment decisions, he said, the other half more basic household management needs like creating a budget.

“An awful lot of people haven’t done it,” said Tobias, who has also designed a software program to help with money decisions.

Among his tips for investors:

Don’t buy corporate bonds. Treasury Bonds are safer and can be bought directly, saving commissions.

Maximize your 401(k) contributions.

If mutual funds intimidate, try an index fund. Expenses are low, and by tracking the stock market as a whole they outperform most other funds.

For households, the messages are down-to-earth:

Buy the store brands.

Prepare your own taxes. “There’s not all that much magic.”

Buy a used car.

Tobias encouraged parents to get their kids started on saving, preferably in lieu of smoking.

If the money needed to sustain a pack-a-day habit - $2 per day - were put into a savings account, he said, that healthy non-smoker would have $800,000 to retire on.

That will be particularly helpful if he or she has relied on Social Security to meet expenses. Tobias said the future of the fund backing the program is the subject of frequent questions.

“It wasn’t designed to be a comfortable retirement,” he said.

Tobias said his recent presentations follow a long period when he did few public appearances.

“It’s been fun,” he said, adding that laughter is a much-appreciated audience response.

Besides Tobias, 25 experts will conduct 24 educational seminars throughout the day. Topics will include retirement planning, real estate, and women and investing.

Some 14 exhibitors will occupy two bays in the Ag Center.

Except for Tobias’ talk, the event is free.

, DataTimes MEMO: This sidebar appeared with the story: TOBIAS TALKS Andrew Tobias speaks at 11 a.m., Saturday, March 29, at MoneyTalk ‘97. The event, co-sponsored by Seafirst Bank and The Spokesman-Review, is at the Spokane Convention Center. Tickets for Tobias’ talk are $5 and are available at the door, with proceeds going to The Spokane Low Income Housing Consortium.