Customer Reviews

The Wealthy Barber (2 audio cassettes): Everyone's Common-Sense Guide to Becoming Financially Independent

5 star:		(20)
4 star:		(3)
3 star:		(1)
2 star:		(0)
1 star:		(0)

 

 

About the time each person gets her or his first full-time permanent job, it would be helpful to be economically literate about what one's future economic needs and risks are, and the best ways to provide for them. Unfortunately, most people never get this lesson because no one around them knows the lesson to teach them. This book fills that void to help overcome the ignorance that can create stalled thinking.

The great strength of this book is that it is both simple and thorough. Most books about personal economic issues are either simple and superficial or complex and thorough. I was impressed by how well the combination of simplicity and thoroughness was achieved.

The book covers a wide range of subjects including what areas you need to save for, how much to save, what to do with the savings, how to protect yourself and your family from risks using insurance and wills, buying a home, reducing taxes, and handling retirement and children's education. That's a lot for one book. I am familiar with these subjects both as a trained lawyer and as someone who works with investments, and I found that the advice was accurate and up-to-date. The book was particularly good at telling you when you need to get professional help and when you don't.

The format of the book is outstanding. Almost all of the action takes place in a barber shop, with ordinary people discussing ordinary issues that most of us have. The story keeps your interest, and the variety of characters gives you the ability to consider how different needs and preferences can affect the decisions that you make. Everyone will be able to relate to these characters.

My recommendation would be to share this book with anyone you know when they take their first permanent job. Then follow through by sitting down with the person to share your own experiences, both your successes and not-so-successes to add even more perspective. That would be a great gift for you to give!

Live long and prosper!

David tells us in this book how to build wealth. The tip he gives us is this...for us to save money out of every pay check. He recommends saving 10% out of every pay check. This is a very good idea and i strongly recommend this idea. If for some reason you can't save 10% out of each pay check, then i think that any amount that you can save should be adaquate. Please remember that saving money is just a small tip of the ice berg. You must remember that once we save our money, then the next step is to invest this money. Money needs to be growing at all times. Were you invest your money will be up to you. I personally invest in the stock market. I would strongly recommend this book. It can put you on the right track to financinal success.

At the time this book was given to me (by my Father), I was a Research Analyst for a mutual fund company. I thought I knew all there was to know about investing....but boy, was I wrong. In addition to working in a financial field, I was also married and had children. Reading this book showed me in such a simplistic and entertaining manner, how incredibly EASY it is to build wealth no matter what your income level is. I also learned about wills, life insurance, and other things that I never gave any thought to, but reading the book gave me insight as to just how important these things are...not to me, but to my family. My father is a very intelligent individual and has great money-sense. He is 51 years old and has never paid a single dollar in interest on his credit cards ! Now that is someone who knows how to properly manage his money ! He himself said that this book is propbably the most important and eye-opening book he has ever read - and that's why he gave it to me as a gift. If you are someone who has always been leary of investing, have no plan for retirement, or have a family, then you MUST read this book. It is written in a story-book format and reads just like any novel. This is not a financial lingo, how-to-get-rich-quick type of book. The "story" WILL show you how to build wealth....slowly, so you will be able to retire in style, not having to worry about money. Do yourself a HUGE favor and read this book. I guarantee that you will not regret it.

This is an excellent book for the beginning investor. I read it, then went and bought six copies for the young sailors I work with.

A very informative and easy-to-read book. I literally couldn't put it down (which is unusual, considering the somewhat dry topic of personal finance.) Chilton's way of teaching with a story uses an effective, tried-and-true, method of explaining compex ideas to novices. While the book does not cover any topic in depth, it would make an excellent introductory primer to the subject of managing your money. It even-handedly explains the concepts and your options and encourages the reader to take action and learn more. It should be required reading for young adults. END

While not the most intensively scholarly book ever written on Personal Finance, this is almost certainly the easiest to read. The Chapters dealing with Credit, Insurance, and starting to save money are invaluable.

The author couldn't make financial planning any more simple and realistic for one to achieve their financial goals. One can relate to the materials is because the author does such a good job at applying the financial concept to your normal everyday life. I was inspired by the advices he gives throughout the book. The book gives you an optimistic view that you can be financially successful just by applying his concept. I strongly believe this book is for anyone who wants to be financially wealthy

I read this book to learn a little more about finance, since I'm clueless about it. Now after reading this book, I feel I know enough to plan for my future under two conditions -

1) I work full time
2) I work for 30 years or longer

There's obviously no way around those conditions, and of course there really shouldn't be. Unfortunately, I haven't quite fulfilled condition one yet, let alone condition two. The book doesn't discuss how to fulfill these conditions. You need a job search book for that.

What this book does discuss though is what do do with your steady income once you have it. Early in your life, simply set aside 10 percent of your earnings immediately and put that percentage into long-term growth investments, without ever withdrawing. Makes a lot of sense, even though I still think some of the figures the author throws out are a bit exaggerated. Compound interest does work wonders, but there ain't no way in heck you'll become a millionaire on $100 a week in this lifetime. (The book doesn't make this claim, but it kind of implies it.)

This book says a dollar saved is two dollars earned and gives a 'tax on bonuses' type reason for it. I agree with the statement, but I'd say the reason it's true is because after you spend a dollar, you have -1 dollars, but if you save that dollar, you have +1 dollars. +1 - (-1) = +2. If you save a dollar, you have two dollars more than if you spend a dollar.

I'd say the best way to avoid getting carried away and spending all your money (in addition to the pay yourself first method discussed in the book) is to keep busy as all heck with what you have. If you're sitting around all day doing nothing, you're probably going to get bored and spend your money frivolously. (Hint: writing reviews for Amazon is a real money-saver; a great way to keep busy.)

There's more to this book, like life insurance and wills and stuff, but I think as long as you know how to save, and where to get good help (particularly for life insurance), you'll be set up all right, even if you screw up.

This is the 5th time I have purchased this book. The first one was for me. But it is such an easy read, written with the average person in mind, with wonderfully useful info that I give it as a gift to recent grads. Worth reading at any age though!

Get rich schemes are out of control today. Beyond the schemes, many people seem to use the lottery their own personal retirement plan.

This is not a get rich quick book, but a common sense guide to becoming wealthy over time. Told though thoughts of a "wealthy barber," this book goes back to basics to teach wise saving and investing techniques. It also reinforces ideas that many have learned over time.

There are several powerful concepts to investing in the book. One of the most important concepts is: Pay yourself first. Although simple, it has profound implications on becoming financially secure.

Another powerful concept is how to invest wisely. The Wealthy Barber talks about the good and bad sides of stock market investing, real estate investing and more. The book also exposes some of the wasteful ways of spending money such as buying cash value life insurance as opposed buying term insurance and investing the difference.

I found the book refreshing and insightful. Great for the beginner as well as advanced investor, these ideas should never go out of fashion. I try to apply many of these principles in my own life and encourage others interested in doing the same.

Overall, this is an excellent book to re-discover common sense and learn the basics of saving, investing, patience, and the magic of time to become wealthy. Highly recommended!

The Re-Discovery of Common Sense: A Guide to: The Lost Art of Critical Thinking