[Read] ➳ The Wealthy Barber: The Common Sense Guide to Successful Financial Planning By David Chilton – Tshirtforums.co.uk



10 thoughts on “The Wealthy Barber: The Common Sense Guide to Successful Financial Planning

  1. says:

    This is the first personal finance book I ve ever read, and I m really, really happy to have done it By presenting a boring topic in a conversational format including lots of baseball chiding Chilton makes personal finance accessible to anyone and everyone.He presents a really simple system that anyone can follow, starting today, to get your finances in order Put 10% into a I m going to be rich someday fund Put another 10% into retirement Do whatever you want with the rest essentially He even describes dollar cost averaging and the power of compound interest so that the reader can left really understanding the importance of both.What I found really interesting were the sections on insurance, wills, and other elements that I consider to be in the weeds A few years ago I started taking out some whole life insurance to supplement my company s group policy, but, according to Chilton, I shouldn t have been doing that at all, for reasons that are made really clear in the book I do, however, fundamentally disagree with his stance on mutual funds I think if you re a layman, you should be investing in indexed funds, no question Absolutely no question This is the one major knock I have on the book.If you re in your 20s, I d recommend picking both this up and I Will Teach You To Be Rich, which is current and relevant to 20 somethings in the 2000s.


  2. says:

    A must read for any friend, it approaches personal finance in a nonchalant, meaningful, practical and funny way which makes the read a breeze I wanted to read the book for its content on personal finances, but I ended up being caught in the story and enjoying it for its storytelling.


  3. says:

    This one might have been better in book versus audiobook form The framing device of an ongoing conversation about financial matters between obnoxious, faux humorous people in a barber shop was excruciating Suddenly, Stephen King s admonitions against adverbs in On Writing made a WHOLE LOT OF SENSE And the narrator s self description at the beginning makes him sound like a total jerk I didn t WANT this guy to be financially successful However, buried in the dialogue is really good, straightforward, useful financial advice, which is why I kept listening So, aces on the information, but boo to the sharp pieces of glass on the ground through which one needs to crawl to get the useful bits of information.


  4. says:

    This book has a cult following amongst Canadians, and now that I ve read it, I know why It was first published in 1989, and is written like a novel , except with dialogue than any book I ve ever read.Here s the set up 3 twenty somethings go to a barber for financial advice They go eight times there are each time is a chapter , and have seven lessons with the Wealthy Barber, Ron, who gives them financial advice.1 Save 10% of your income for long term growth Pay yourself first He talks about mutual funds and investing here too My favourite line from this chapter is when he talks about why it s harder to budget for individuals than it is for businesses for too many people, a want becomes a need 2 Prepare for your death Have a will, and, if you have dependents, have life insurance.3 Save for your retirement Put as much into your RRSPs as you can this is, of course, in addition to your 10% Start young, so you can take advantage of compounding interest.4 Think about buying a home I loved this chapter I m in no position to buy a home, but I so often feel pressured to, even though it s not the right decision for me Chilton writes Let me start by saying that whoever the ubiquitous they are who say renting is like throwing your money away aren t accurate I ve read that opinion in several well known financial planning guides, and I just don t know where the authors are coming from That s right He later describes home ownership and paying a mortgage as the ultimate forced savings program , and talks about mortgages, but I appreciated that he wasn t like Buy, buy, buy 5 Saving, spending and credit management This isn t saving like the RRSPs and the 10% fund, this is saving like for a trip Don t spend too much on your credit cards, and save to buy something before you buy it don t just pay it back A dollar saved is worth than a dollar earned, because a dollar saved is an after tax dollar Be wise with your after tax money.6 Investment and income tax If you have debt, pay off the loan with the highest interest rate first Credit cards before mortgages Investing is hard.7 RESPs I don t remember too much of this, because I don t have kids But there was some other advice in the chapter emergency funds, disability insurance, and staying informed Tips to live by, and a quick read.Youngandthrifty.ca has a good and funny review.Getrichslowly.org also has a pretty good review.http www.moneychallenge.ca blog 201


  5. says:

    I was among the first to read and review this book for the finance section of an Ontario newspaper when it was first released back in 1989 David Chilton lived in a nearby city and was pushing hard to get reviews.I loved it because it took the dry lessons of personal finance and turned them into a parable about a barber who knew the secret to financial success.I knew the book would be a hit and said so The rest is history.


  6. says:

    finally got around to this one after much gentle, yet consistent urging of my father, The Wealthy Barber is a thinly veiled lesson in personal finance aside from a few witty remarks from characters in between the barber s lectures, the book is plainly an essential guide to simply and properly managing your money a very important read, but honestly not an engaging one would recommend for educational purposes only, not enjoyment.


  7. says:

    There is some very good, general information here that just about anyone can benefit from I did, however, hate the presentation It s all presented in a painfully cheesy conversation between a barber, 3 30 somethings in need of knowledge, and a couple of old farts who live in the barber s shop It made me want to slap someone.Still, I must recommend the book for there was good information inside It s fairly well rounded, providing value to just about anyone.


  8. says:

    Such great advice on becoming financially literate AND a quick read


  9. says:

    Quote Wealth beyond your wildest dreams is possible if you follow the golden rule Invest 10% of all you make for long term growth If you follow that one simple guideline, someday you ll be a very rich man Synopsis The Wealthy Barber is a financial planning book franchise by Canadian author David Chilton The first book in the series was in the business fable genre, using the story of fictional characters to convey financial advice.My Take Although the Wealthy Barber was originally published in 1989, almost 3 decades ago, I still believe the message of the book and the sound principles the author conveys, still apply to this date.This book has been recommended to me by my Goodreads bestie and book buddy Celise who read this as part of her 1 book a week challenge I highly recommend following her on Goodreads and checking out her new BookTube channel on YouTube.My first impression going into the first few chapters was of a story than a financial planning book.This is due to the author dedicating the first chapter or two on setting the scene and introducing you to his family and his barber This works for some readers who prefer being eased into the book and like the novel approach to connect with the characters.At first, I thought I did not like that approach but as the book progressed I come to like his unique and entertaining way of presenting dry financial topics as a series of visits to the local barber who mentors the main characters of the bok to their financial freedom The book shows its age and financial era when discussing funds and the recommendation not to invest your savings in the stock market directly, but instead to go for the safer option of managed Mutual Funds It is a bit outdated as Mutual Funds are very costly by today s standards and has been proven to underperform the market You are better off using an index fund than using a mutual fund which depends heavily on the performance and judgement of a human, the money manager I thoroughly enjoyed this book and it is one of the good financials reads I come across since Rich Dad, Poor Dad and Think and Grow Rich.I will be reading the follow up and newer edition of the author s book The Wealthy Barber Returns and making notes this time of the golden nuggets the author shared with us.Quotes A dollar saved is two dollars earned Over the past fifty years borrowing has gone from a shameful vice to the national pastime The only thing worse than a bad investment is a bad investment made with borrowed money Curiosity I find that s the most commonly seen characteristics of happy people They re curious They love to learn, they love to read, they love to travel, they love to listen to other people s opinions, they love to learn If you can teach your kids one thing, I think it will lead to happiness, is to develop curiosity


  10. says:

    This book s greatest strength also happens to be somewhat of a weakness Chilton s financial tips, framed within dialogue, are easily digestible and accessible, but because they are framed in dialogue, what could be summarized easily in a page takes a whole chapter.As a financial novice, I found this book quite helpful and practical, despite the often unnecessarily protracted dialogue As a lover of quality literature, I found this book quite horrendous But I won t be so petty as to go on and on about adverbs and the jarring insertions of the author s voice in the present tense and all that it is, after all, a book about financial planning.The jokes are so extremely bad But at the same time that is why they are funny.


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The Wealthy Barber: The Common Sense Guide to Successful Financial Planning download The Wealthy Barber: The Common Sense Guide to Successful Financial Planning, read online The Wealthy Barber: The Common Sense Guide to Successful Financial Planning, kindle ebook The Wealthy Barber: The Common Sense Guide to Successful Financial Planning, The Wealthy Barber: The Common Sense Guide to Successful Financial Planning 40951b6e5f0c 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 Year Old School Teacher And Expectant Father, His 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 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 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