This is my dog earred and much highlighted copy of Dave Chilton's (@wealthy_barber) first book, The Wealthy Barber. I realize I'm not the first person to say this however it's hard for me to express the huge impact this book has had on me over the years.
So, when I heard that Dave had written a completely updated, "next generation" version of this classic, I immediately ordered some copies...which arrived on my doorstep yesterday.
Imagine my surprise (shock) when I got to Chapter 5.
@robintaub@scotmanb@wealthy_barber First up, just listened to the podcast. You're right @preetbanerjee is a tough act to follow but you nailed it. Great insights, as always.
Now for the important stuff. My tastes lean towards "plain" butter tarts but a couple of raisins won't stop me from eating them.
I know you're busy but please take a moment to watch this video. And share it far and wide! It's the official announcement of our new initiative aimed at helping Canadians to manage their money better. Much better.
@wealthy_barber As he dispenses the updated lessons, Roy also throws in some retirement advice for Tom, Cathy, and Dave (older, wiser, and now a Leafs fan) who tags along. Sadly, Clyde and James are no longer with us but now there's a former mutual fund salesman hanging around. :) 2/2
@wealthy_barber Excellent idea! Roy finally decides to hang up his scissors but before he does, Tom and Cathy bring their kids in (c’mon we all know they hooked up) to learn the lessons Roy taught them thirty-some years ago. …1/2
The same fundamental aspirations reverberate across both the United States and Canada.
To live in freedom – with dignity.
To relentlessly pursue the possibilities of tomorrow.
To leave for our children and grandchildren a future that is better because of our efforts.
Most people don't need:
- leverage
- fancy insurance policies
- exotic investment strategies
- tax schemes
They need to:
- increase savings rates
- invest appropriately
- use TFSAs and RRSPs
- pay down debt
- buy cheap term insurance
Do that and you're 90% of the way there.