Read The Wealthy Barber: The Common Sense Guide to Successful Financial Planning by David Chilton Free Online
Book Title: The Wealthy Barber: The Common Sense Guide to Successful Financial Planning|
The author of the book: David Chilton
Date of issue: March 1994
Format files: PDF
The size of the: 999 KB
City - Country: No data
Loaded: 1859 times
Reader ratings: 6.6
ISBN: No data
ISBN 13: No data
Read full description of the books:
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 more current and relevant to 20-somethings in the 2000s.
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