- Paperback
- Publisher: Stoddart Pub; ` edition (February 2002)
- Language: English
- ISBN-10: 0773762167
- ISBN-13: 978-0968394731
- Product Dimensions: 21.3 x 14 x 1.8 cm
- Shipping Weight: 680 g
- Average Customer Review: 4.8 out of 5 stars See all reviews (13 customer reviews)
- Amazon Bestsellers Rank: #14,469 in Books (See Top 100 in Books)
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Product Details |
Product Description
From Amazon
David Chilton's popular The Wealthy Barber is a good starting point for anyone who wants to construct a personal financial plan. Many people are so scared of dealing with their money that they don't do anything at all--only to suffer for it over the long haul. Chilton shows that planning is simple and you don’t have be a whiz kid to set yourself on the route to financial security. "When I finally learned the basics of financial planning, I couldn't believe how straightforward they were. It's just common sense," is the overarching message.
The Wealthy Barber takes the form of a novel, though it wouldn't win many awards for plot, setting, or characterization. The narrator, Dave, a 28-year-old school teacher and expectant father, his 30-year-old sister, Cathy, who runs a small business, and his buddy, Tom, who works in a refinery, sit around a barber shop in Sarnia, Ontario, and listen as Ray Miller, the well-to-do barber, teaches them how to get rich. The friends are at the age when most people start thinking about their future stability; among the three of them, they face almost every broad situation that can influence a financial plan. Ray, the Socrates of personal finance, isn't a pin-striped Bay Street wizard. He is a simple, down-to-earth barber dispensing homespun wisdom while he lops a little off the top. Ray's barbershop isn't the place to learn strategies for trading options and commodities. Instead, his advice covers the basics of RRSPs, mutual funds, real estate, insurance, and the like. His first and most important rule is "pay yourself first." Take 10 per cent off every pay cheque as it comes in and invest it in safe interest-bearing instruments. Through the magic of compound interest, this 10 per cent will turn into a substantial nest egg over time. This book isn't about how to get rich quick. It's about how to get rich slowly and stay that way.
Chilton's common-sense approach has obviously hit home since his book first appeared; with more than 1.5 million copies sold to date, The Wealthy Barber is the best-selling book ever of any kind in Canada. Some of the financial details have been updated in recent editions, but the story and fundamental advice are timeless. It's probably not the last book you'll want to read on the subject, but it's a good starting point for learning about financial planning. --Edward Trapunski
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Most helpful customer reviews
5.0 out of 5 stars
Exactly what I expected,
This review is from: The Wealthy Barber: The Common Sense Guide to Successful Financial Planning (Paperback)
Quick shipping and packaging was just fine. This is a used book, but is in very good condition which is what they promised. I am very satisfied and have no problem recommending this seller! Thank you!
5.0 out of 5 stars
Simple and to the point...,
By
This review is from: The Wealthy Barber: The Common Sense Guide to Successful Financial Planning (Paperback)
I have been researching the fiancial world for quite some time and giving advice to friends based on my experience and acquired knowledge. What was not my surprise when I found that most of my tricks are written down in this book and in a format easily understandable even for the most financially-ignorant person. I could not recommend this book enough!
2 of 2 people found the following review helpful
4.0 out of 5 stars
Great Primer for Financial Planning -- Simple and Effective lessons for even the least savvy investor,
By
This review is from: The Wealthy Barber: The Common Sense Guide to Successful Financial Planning (Paperback)
Chilton's book is well-written and an enjoyable read. I went through the entire book on my day off because I couldn't put it down. The author has devised a very simple investment plan that is both conservative and almost sure to pay off, except he doesn't guarantee exorbitant returns -- only long-term security. Most notable are the "pay your self first" concepts and a "a dollar saved is two dollars earned."The author covers a wide array of essential topics covering mutual funds, wills, insurance, RRSPs, home ownership, and a little bit on additional savings. It's a great primer and the author makes sure to discuss some of the complexities involved in investing and dispels a few common myths (e.g. that buying a home is ALWAYS better than renting). Just following the lessons in this book, the average person could profit greatly in the long run. That said, there are some problems with the book. First the book is filled with overly optimistic calculations, using average returns of 12% -- which is actually considered very high in today's standard and by long-term historical returns. Even TD give averages of 8% for international mutual funds and less for domestic. Also for popularity, the author tries to minimize discussion of developing a strong budget and cutting back expenses, and fails to illustrate how much this could add to savings over a lifetime. Finally, he doesn't discuss that it may be appropriate to consider the probability of risk and how this influences insurance decisions, and that it is logical for people to consider waiving insurance depending on their personal situations, even when some liabilities exist. Overall, the book is a pleasurable read and provides valuable principles for investing. It is a bit simplistic, but even an intermediate investor will learn a trick or two, and it serves as a valuable reminder for the simple things you may forget. Most importantly, these basic lessons are logical and will help even the least savvy investor earn their way to prosperity. In a time of financial illiteracy, this book is a great resource.
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