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The wealthy Barber has become a classic of Canadian financial literature for the average Joe, and for good reason. The Wealthy Barber is not your everyday boring financial planning book which instructs you on how to budget and predict the stock market. The wealthy barber does not even cover those topics as viable paths to financial prosperity as everyone who has tried a personal budget knows how hard it is to follow. Same with the stock market, it is ridiculous to believe that millions will easily be made, just like in the movies. This book keeps it sweet and simple with common sense advice on becoming wealthy with what you have, whether it be millions, thousands, or just about nothing at all.
The main point of the Wealthy Barber is to pay yourself first by saving 10% of all income for long term growth. If this sounds simple, it’s because it really is. By paying yourself first, before you even have the chance to redirect the money towards a fishing trip up north, you eliminate the hassle of trying to find money to save after you have spent it all. Investing is not as complicated as it may seem. It does not take much effort to educate yourself on the different types and styles of mutual funds. With a good head and the wealthy barber at your side, you will be able to determine which mutual fund suits you best, and most important of all, which one will make you the most money.
Roy, our book’s wealthy barber, stresses that patience is the key to becoming wealthy. You don’t get rich overnight. You get rich slowly, over time through careful planning and diligence. If your mutual fund or other investment begins to tank, don’t worry, markets always go up in the long run. Sit tight, don’t panic and take advantage of the low prices to purchase some shares which will undoubtedly be worth more in the future.
I would recommend this book to every single Canadian who cares about their money. Money is a topic seldom covered in school, with family, and with friends, so where do we learn about it. Truth is most people don’t learn. The Wealthy Barber makes it unbelievably easy to learn personal finance. My whole family has read the book and loved it. All of the people to whom I have talked to abut the book said they loved it as well. One person even told me that they read the book when it was first published and it was the best thing they ever did. They are now much better off than they would have ever dreamed of being with the financial knowledge they had at the time. Whether or not you decide to read the book, you can take a way this very simple lesson which you will be very grateful for down the road. Invest 10% of your income for long term growth. It is never too late or too early to start “The best time to plant an oak tree was 20 years ago, the second best time is today” -Roy
The main point of the Wealthy Barber is to pay yourself first by saving 10% of all income for long term growth. If this sounds simple, it’s because it really is. By paying yourself first, before you even have the chance to redirect the money towards a fishing trip up north, you eliminate the hassle of trying to find money to save after you have spent it all. Investing is not as complicated as it may seem. It does not take much effort to educate yourself on the different types and styles of mutual funds. With a good head and the wealthy barber at your side, you will be able to determine which mutual fund suits you best, and most important of all, which one will make you the most money.
Roy, our book’s wealthy barber, stresses that patience is the key to becoming wealthy. You don’t get rich overnight. You get rich slowly, over time through careful planning and diligence. If your mutual fund or other investment begins to tank, don’t worry, markets always go up in the long run. Sit tight, don’t panic and take advantage of the low prices to purchase some shares which will undoubtedly be worth more in the future.
I would recommend this book to every single Canadian who cares about their money. Money is a topic seldom covered in school, with family, and with friends, so where do we learn about it. Truth is most people don’t learn. The Wealthy Barber makes it unbelievably easy to learn personal finance. My whole family has read the book and loved it. All of the people to whom I have talked to abut the book said they loved it as well. One person even told me that they read the book when it was first published and it was the best thing they ever did. They are now much better off than they would have ever dreamed of being with the financial knowledge they had at the time. Whether or not you decide to read the book, you can take a way this very simple lesson which you will be very grateful for down the road. Invest 10% of your income for long term growth. It is never too late or too early to start “The best time to plant an oak tree was 20 years ago, the second best time is today” -Roy
