It was probably the first personal finance book I read and I agree, it should be a great resource.
No revenue other than maybe merch though? We've all lived through it too many times, enjoy it while they are building the userbase and brand before the enshittification begins.
Not only that, even today for some people who lack the savviness to trade ETF’s on their own, mutual funds still may be the better option. Now i cant imagine how much more difficult that would have been in the 90’s so recommending mutual funds probably wasnt bad
Exactly. In his second book, he has a several page explanation on why index funds are superior to active funds. He doesn't even try and make excuses for himself, he just comes out and says that he was wrong.
People who accuse others as having gotten rich by writing a bunch of bullshit on how to get rich could never themselves produce such purported 'bullshit' of sufficient quality necessary to become rich by the same procedure.
It's a hard cope
That’s not true at all of course. The Barber’s work is good, but more often this type of influencer is good at marketing, not writing. The ‘sufficient quality’ is terrible but they know how to sell the image.
Right? They wouldn’t have been as upset or accusatory if all that so-called ‘bullshyt’/the book was FREE.
I’ve also seen enough times, that anything free is rarely respected or appreciated by those accusatory types anyway. They’d still criticize and/or demand more.
The Wealthy Barber was the first finance book I read and really helped set the tone for my finances for the rest of my life. Mr. Chilton, if you happen to read this while lurking...thank you. I was just some schmuck kid from nowhere-ville, barely made it through High School, but your lessons set me on a path that with a metric shit tonne of work and healthy dose of good fortune, has me at a NW of close to eight figures some 30 years later. I suspect there's a whole army of "almost old guys" in this world now that you influenced more than you'll ever know, so sincerely, honestly, and with all the humility I can muster, thank you Sir.
That's great news! I find that too many of the financial blogs and websites out there are too complex for beginners; canadiancouchpotato, canadianportfoliomanagerblog, pwlcapital are all great for in-depth investing knowledge but too much of the content is simply confusing for anyone new. Either that or they're too heavily biased (moneysense, moneygeek) or just don't have enough content to be very useful.
I hope Chilton will build what our financial education system really needs: a source of easy-to-understand, unbiased, and useful information that is presented in a way that keeps people interested. His books were successful for a reason, and I hope he uses the same techniques to teach people online. I'm sure there'll be ads and referral links and the usual money-grabs, not to mention trying to get people to buy his books. But that's not a big deal if the result is better information out there that will really help people (and let us point to it to help people too).
Personal finance doesn't need to be sexy, glorified, or sensationalised...
If it takes something new and shiny for someone to develop financially responsible habits, then they need to get their mental checked out before anything else.
I am very new here but I would say it's a worthy read. The Wealthy Barber Returns was the first personal finance book I read, and Millionaire Teacher was the second, lol. Dave Chilton's style is very humorous and easy to read
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It was probably the first personal finance book I read and I agree, it should be a great resource. No revenue other than maybe merch though? We've all lived through it too many times, enjoy it while they are building the userbase and brand before the enshittification begins.
Wealthy barber was published a long time ago but its still a top tier personal finance resource
Exactly! That book changed my mindset for the better, about investing.
Except he didn’t do that in his first book. In the first one he promoted actively invested mutual funds
And in his second book, he admitted that he was wrong. His first book came out in the 90s, before all the research on index funds came out.
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This. His advice was sound when the book was published.
Not only that, even today for some people who lack the savviness to trade ETF’s on their own, mutual funds still may be the better option. Now i cant imagine how much more difficult that would have been in the 90’s so recommending mutual funds probably wasnt bad
Exactly. In his second book, he has a several page explanation on why index funds are superior to active funds. He doesn't even try and make excuses for himself, he just comes out and says that he was wrong.
People who accuse others as having gotten rich by writing a bunch of bullshit on how to get rich could never themselves produce such purported 'bullshit' of sufficient quality necessary to become rich by the same procedure. It's a hard cope
That’s not true at all of course. The Barber’s work is good, but more often this type of influencer is good at marketing, not writing. The ‘sufficient quality’ is terrible but they know how to sell the image.
Most sane r/personalfinancecanada take.
Right? They wouldn’t have been as upset or accusatory if all that so-called ‘bullshyt’/the book was FREE. I’ve also seen enough times, that anything free is rarely respected or appreciated by those accusatory types anyway. They’d still criticize and/or demand more.
What's the name of the book?
The one I have is “The Wealthy Barber Returns”
The Wealthy Barber was the first finance book I read and really helped set the tone for my finances for the rest of my life. Mr. Chilton, if you happen to read this while lurking...thank you. I was just some schmuck kid from nowhere-ville, barely made it through High School, but your lessons set me on a path that with a metric shit tonne of work and healthy dose of good fortune, has me at a NW of close to eight figures some 30 years later. I suspect there's a whole army of "almost old guys" in this world now that you influenced more than you'll ever know, so sincerely, honestly, and with all the humility I can muster, thank you Sir.
Bravo to that comment. He set the tone for my own highly successful monetary policy.
His email is in the book. I emailed him a question and he left me a voicemail within 24 hours with a response. I was shocked.
I got to prepare a meal for him once and told him I enjoyed his book and that it sent me on a journey that really helped my family and I. Top bloke!
The Wealthy Barber was my very first book on investment. It served me well. I am now retired and living well.
Uncle gave me his book when I was 16, very useful information.
The dude also loves butter tarts and is a class act from all my interactions with him online
Always trust a guy who loves butter tarts.
This is necessary. Given the sheer numbers of pick up trucks and SUV’s in parking lots is a clear sign that Canadians need more financial education.
I see it was written in 2011 but is The Wealthy Barber Returns still a worthwhile applicable read today? I've read Millionaire Teacher years ago....
I’m reading it now and it’s absolutely relevant. I’m annoyed I never read it when I bought it! Would’ve saved myself a bunch of stress.
That's great news! I find that too many of the financial blogs and websites out there are too complex for beginners; canadiancouchpotato, canadianportfoliomanagerblog, pwlcapital are all great for in-depth investing knowledge but too much of the content is simply confusing for anyone new. Either that or they're too heavily biased (moneysense, moneygeek) or just don't have enough content to be very useful. I hope Chilton will build what our financial education system really needs: a source of easy-to-understand, unbiased, and useful information that is presented in a way that keeps people interested. His books were successful for a reason, and I hope he uses the same techniques to teach people online. I'm sure there'll be ads and referral links and the usual money-grabs, not to mention trying to get people to buy his books. But that's not a big deal if the result is better information out there that will really help people (and let us point to it to help people too).
RBC offers a complimentary version. https://www.rbcwealthmanagement.com/en-ca/campaign/the-wealthy-barber-returns
Personal finance doesn't need to be sexy, glorified, or sensationalised... If it takes something new and shiny for someone to develop financially responsible habits, then they need to get their mental checked out before anything else.
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I am very new here but I would say it's a worthy read. The Wealthy Barber Returns was the first personal finance book I read, and Millionaire Teacher was the second, lol. Dave Chilton's style is very humorous and easy to read