Blerg. A useful summary of financial planning liberally wrapped in a sugary
confection of trite, cheesy, misogynistically conservative nonsense that made it a fast but unpalatable read.

One of the better financial strategy books I’ve read. It provides clear cut examples for setting yourself up well with a prosperous financial future. Clearly the no-BS way to long term success.

Forced Savings, Dollar-Cost Averaging & Compound Interest are truly the secrets to financial freedom.

I specifically loved Chilton’s view and perspective on Renting versus Owning. It was a very valuable discussion that I have truly been needing. Excellent. Highly Recommend to anyone looking to buy a home or rental property! Read this book! Even just for Chapter 7!

When you go play golf every weekend and is more worried about the local baseball team than your own job and values a vacation so much you’ll get a loan to fund it… this book is for you
If you’re in 2023 - then this book is just an image of what it could have been if you were born 4 decades ago..

(read this before Goodreads, added this years after reading the book)

Probably liked it.

I have a feeling In need to read this book again, it was great the first time and I probably could take some of the advice again!

Most of it is just common sense as the title would have you believe. A couple tips I didn't already know about. It seemed like it would be a great book for someone who hasn't grown up financially educated by their parents. For me almost all of it was stuff I was either doing or at least new I should do.

Overall it is a very easy read that gives a full frame work for personal finance. A little dated but still useful and largely valid.

This book could be shorter than it sounds. A few Google searches about the summaries would be good enough.
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Summaries of Each Chapter
Chapter 1- The Financial Illiterate

The author gives a description of what he enjoys and what he likes to do in his spare time. For example, he enjoys the month of April for 4 reasons: the NBA playoffs, NHL playoffs, the start of MLB season, and April is the start of the Golf season. He then introduces his wife, and the fact she is expecting a baby soon. Both of them are excited for the delivery. The author admits that he is completely clueless when it comes to managing money. With a wife and a baby on the way, David needs to make himself a very literate financial individual. And fast.



Chapter 2- A Surprising Referral

The author talks to his father about saving money and paying for big purchases such as vehicles. His father tells him that he never bought anything without saving for it first. There was one thing that the author's father did borrow money for, which was a house. He assumed a 30 year mortgage. He tells his son that he became financially literate from the local barber named Roy. David decides to pay a visit to Roy so he can become financially literate.



Chapter 3- The Wealthy Barber

David goes with his sister named Cathy and Cathy's husband, Tom to visit Roy. He tells them how they handle their income and assets will determine their success. To ensure this, he tells them they must manage their cash flow. He promises by the end of 7 months all of them will be on the road to prosperity.



Chapter 4- The Ten Percent Solution

Roy tells them his story of becoming wealthy and he says an old man once told him to "Invest ten percent of all you make for long term growth." Roy goes on to tell them that if they saved 30 dollars a month from age 18 to age 65 at 15% annual return, they would end up with 2 million dollars.



Chapter 5- Wills, Life, Insurance, and Responsibility

Wills are important. If you die without a will things will not work out as planned. When there is not a will, the estate assets are frozen and the court manages it. No thought is given to the deceased or the family of the deceased. Each state as different rules. Donations, scholarships, gifts for children, none of it would be given to the people it was intended for. A living will is a document that states that if a person is ill they do not have to be kept alive but machines. People should buy life insurance so that wen they die, they can allow for their financial affairs to wind down and provide a standard of living for their dependents. it guarantees dependence and is financial protection. Your living estate and insurance must provide enough money to cover all debt, future obligations, and support dependents.



Chapter 6- Planning for Retirement

We all plan for the future and should plan to save for vehicles for retirement. Roy says that retirement should be the best years of your life and should be planned in advance while you are younger. You must accumulate substantial savings before you retire so that you can stay comfortable. Roy also goes on to say that Social Security is intended to be a safety net for retired Americans or an augmentation of retirement income, investment assets or even both.



Chapter 7- Home Sweet Home

Roy tells Dave and Cathy that renting is not throwing money away. Shelter is one of the biggest necessities in life and you need a place to live. He goes on by saying that there are some wide misconceptions about renting. There are 2 things that can lead to an inability to carry debt: rising interest rates and layoffs, wage cuts, and shut downs. The reason that these are feasible to occur is that many people have been living beyond their means for an extended amount of time and it will eventually take a toll on the economy.



Chapter 8- Saving Savvy

Dave comes back to the barber shop after having a new baby and purchasing and moving into a new home (which he spent 10,000 less than he expected to). Roy gives a lesson on the merits of thrift. He says thrift is exercising a degree of self-control. He goes on to say that it is virtually impossible to budget perfectly because wants become needs and the budget goes out the window. "A dollar saved is 2 dollars earned."



Chapter 9- Insights into Investment and Income Tax

Roy's lesson is about how to reduce annual income tax. He says that an investor is doomed if they do not have an eye for failure and discipline. With out discipline you are a sheep heading toward slaughter. Finally you should do some reading. Skim a few books, and become familiar with common mistakes when doing taxes.



Chapter 10- Graduation

Finally you need to keep an emergency fund for if and when you become out of work. Life will be less stressful knowing that you have a little extra saved a way for a rainy day.

Great easy intro book to managing your finances without knowing a whole lot about finances :P

Forget the textbook jargon and just chit chat with your neighborhood friendly barber to get the secrets to wealth. This is a great book for beginners to finance and even to personal development.

David Chilton makes it easy to pick up on key tips to improve your finances and not in the typical manner. This book is not about budgeting and it's a breath a fresh air.

The main thing he really hones in on is save 10% for you, for your long term growth and watch compound interest do it's thing.

I feel like this book is a more modern version of Richest Man in Babylon, told in stories, dialogue, and relatable circumstances and situation in this day and age. (not the Babylonian times haha).

Personal finance in a narrative format. Good information in an easy to understand format.

This is one of the better personal finance books I've read. The principles are sound and simple and explained well. The only problem I had was that some of the information was a little outdated concerning retirement contribution limits and education saving. I'd recommend this as a great introduction to taking care of your personal finances.

This book got me thinking about my financial future - and did so in an entertaining way. Although a little outdated, the principles still apply today. Some pieces of advice were more basic/seemingly common sense while others were definitely more complex, requiring more research and expert advice. Would recommend to someone with no idea where to start with finances and looking for general knowledge.

This personal finance book is presented in a non-threatening and easy to understand manner. The main character's father guides him to a local barber who has done well financially by following sound financial principles. The barber dispenses his knowledge to some pupils during weekly meetings in his barbershop. I highly recommend this book, especially to those new to the subject of personal finance.