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4.4 out of 5 stars
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Showing 1-5 of 5 reviews(2 star). Show all reviews
on July 22, 2015
I wanted to like this book, I really did, but honestly, the book was a disappointment compared to some of the 4 and 5 star reviews you'll see. Sure, the author is likable and has a sense of humor/ writing style that will keep you engaged, but otherwise, it's all common sense.

If you are already saving a chunk of your income, this book offers nothing new. The first half is all about living beneath your means and tucking away 10% of your pre-tax income away before you see it - common knowledge for anyone remotely interested in their financial well being. The remainder of the book is devoted to talking about the miracle of compounding returns (again, nothing revolutionary), or has discussions regarding indexes and some of the various investment vehicles available to Canadians. This is where I hoped to glean the most benefit, but aside from Dave preaching that you shouldnt try to beat the market (and rightfully so), on the key questions of RRSP vs TFSA vs RESP, the answer is a resounding.... 'it depends'.

Bottom line. Well written book, but very, very basic information. Would not buy again if given the option... I'd rate it a 5 or a 6/10, tops.
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on March 5, 2012
This book is a huge disappointment.

I am a big advocate of "The Wealthy Barber". It was a great book, well written and in a great format unlike a traditional personal finance book. Although the core idea was from the 1920s "The Richest Man in Babylon" it was still a classic.

Since there isn't much to add to the original book, Chilton took a different approach to his ideas but it turned out to be something like a collection of articles someone would find in a personal finance blog. The motivational factor in the original Wealthy Barber is missing in the new book.

He could have just left the original story telling way to personal finance with better and deeper explanation of RRSP, TFSA etc. and additions like better asset allocation based on age which would help people who are scared to invest after the 2008 financial meltdown. TFSA is a great way to save money, something not even half the Canadians contribute. A chapter on TFSA's style, benefit with some hypothetical numbers to show its power over long run would benefit great many Canadians

Btw, if the wealthy Barber really returned, where is he in the book. The namesake is completely missing.

Overall, the new edition is a bog let down in my view. Readers may gain some ideas but not motivation. New readers are better off going with the original "The wealthy Barber". I would also recommend "The Richest Man in Babylon" for new readers. If you still want to read this book, just borrow it from the library and put that $15 or so in a TFSA.
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on March 3, 2013
Based on someone's opinions I ordered the book for, it had nothing to say and it basically offered no hope to suggest how to become financially independent. It was a major disappointment to the reader.
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on December 11, 2014
nothing of any real use, just ordinary common sense, not worth buying
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on November 2, 2011
I loved the simple practical, good advice and shear energy of "The Wealthy Barber" and was looking forward to the update which was, frankly, disappointing. I feel that Mr Chilton must have gone through a divorce or some other life changing crisis and needed to produce another book to get some money. Maybe his editor urged him to do so with a healthy advance. I do not know. Some of the advice in the book simply does not make sense. For example, one trick I learned long ago was to buy everything on a credit card that gives you cash back AND every month pay off the whole balance automatically, on the due date from my line of credit. I would then pay off the LOC as soon as possible. Yes, some discipline is required. Life's like that! BUT you avoided credit card interest and late fees. David advises against LOC. In the end, the book was a quick read but lacking most of the time. Too bad I have little good to say about it.
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