Charles Schwab Talks Investing, Wealth & Retirement

In the last issue of Forbes, we ran a short excerpt from an interview with brokerage legend Charles Schwab SCHW +2.42% in which he answered questions from our readers and shared his single best piece of investing advice (hint: it’s really simple). My conversation with Chuck was far longer than could fit in the print edition, and in the longer transcript below, the 77-year-old billionaire discusses how he first started investing, why the average Joe shouldn’t try to pick the next Apple AAPL +1.94% or Google GOOGL +2.38%, and the best financial decision he ever made.