Item description for The Wealthy Barber, Updated 3rd Edition: Everyone's Commonsense Guide to Becoming Financially Independent by David Chilton...
Overview A guide to gaining financial independence simplifies and clarifies the subject of personal finance planning, describing how anyone can become wealthy without speculation and unnecessary risk
Publishers Description " . . . quite simply the best financial self-help book." --Money Book Club, Book-of-the-Month Club In this new and updated edition of one of the biggest-selling financial-planning books ever, David Chilton simplifies the complex puzzles of personal finance and helps you achieve financial independence. With the help of his fictional barber, Roy, and a large dose of humor, Chilton shows you how to take control of your financial future--slowly, steadily, and with sure success. Chilton's plan (detailed in an entertaining story) is no get-rich-quick scheme, but it does make financial independence possible on nothing more than an average salary. This third edition has been updated with assistance from the Arthur Andersen Corporation, and covers the Taxpayer Relief Act of 1997 and other recent developments. Even if you consider yourself a financial "basket case," Chilton explains how you can easily put an effective financial plan into action.
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Studio: Three Rivers Press
Est. Packaging Dimensions: Length: 8.52" Width: 5.54" Height: 0.5" Weight: 0.6 lbs.
Release Date Dec 1, 1997
Publisher Three Rivers Press
ISBN 0761513116 ISBN13 9780761513117 UPC 086874513112
Availability 0 units.
More About David Chilton
David Chilton is the president of Financial Awareness Corporation, a financial consulting firm. The Wealthy Barber and The Wealthy Barber Returns TV shows have enjoyed tremendous popularity since first airing on Public Television in the spring of 1993. Previous editions of this book have sold 2 million copies.
Reviews - What do customers think about The Wealthy Barber, Updated 3rd Edition: Everyone's Commonsense Guide to Becoming Financially Independent?
A concrete financial book presented for the layman Apr 5, 2008
The Wealthy Barber presents an exceptional explanation of the intricacies of financial planning told from the chronicles of an unlikely millionaire barber. For those seeking guidance preparing for retirement and ensuring your financial house is in order, this book is a superb foundation. This book will be especially rewarding to those that find difficultly traversing through bland financial books as Chilton's distracts you from the boredom via his story telling. The stories on their own merit might not rank high; however, just as using salt and butter to get your vegetables down (those of you with an affliction to certain vegetables will understand), the story serves a purpose and successfully will ease you through the material.
My version of the book was purchased in Canada and I am not aware of whether there is an American version, so I should note that in my book it deals with Canadian Investments such as RRSPs (the US equivalent to a Roth IRAs). However, all the financial advice is fully relevant across the board thus any confusion in semantics will be easily clarified.
The financial information explained in The Wealthy Barber is impeccable. The purpose of the book is not to educate one on the particulars of reading financial statements and deriving internal rates of return; the function is to provide a solid understanding of how to plan for retirement. Chilton does an outstanding job explaining the virtues of dollar cost averaging and compounding interest so that even the most non mathematical people will easily grasp the content. The information is flawless and the book is read effortlessly thus I highly recommend this book.
Great Primer on Personal Finance Habits Feb 26, 2008
"The Wealthy Barber: Everyone's Common-Sense Guide to Becoming Financially Independent" by David Chilton is an enjoyable read that introduces basic personal-finance habits that can lead to wealth if practiced and implemented as taught.
The lessons are taught in story fashion by a "wealthy barber" named Roy to a few disciples over a few weeks of visits. The lessons are basic, but that does not mean they are not important. In fact, for many people, these basics are all they will need to better their finances while preparing for a better financial future. This book will not prepare you to become the next Warren Buffet, nor will you be a market genius. There are many more things you can learn on this subject as well, but this book is a nice little primer. Some of the dialog between the characters is a bit corny, if not irritating, but then you can also look at it and laugh at Chilton's use of light humor to teach important topics.
As I mentioned, the lessons are basic, but they are sound. The strategy of paying yourself at least ten percent of your pay first is not new, and is taught in many ways by many people. That does not make it less important, and most people would be better off if they implemented it. I also liked that there was discussion on wills, life insurance, and responsibility. Pointing out that some people do not need certain types of insurance is as important as pointing out that some people do.
We have all heard that social security may not be around in the future. And those receiving only social security now are barely making due. It is in all of our best interests to plan for retirement. The lessons taught in this book serve as a good reminder of things we should be doing and looking at, and hopefully will encourage many people to start planning and seek out more information on this important topic.
While "The Wealthy Barber" won't teach you the path toward the Forbes 400 list, it does provide some excellent basic advice on personal finance. Considering the debt that many have, combined with the lack of savings, compounded by the dim outlook for social security, following the advice of this simple little book could make a huge difference in many people's financial futures. I recommend it highly for anyone that needs a head start on planning for their future. I also recommend it for those that want a quick enjoyable read on some basic financial strategies to motivate you to learn more.
Reviewed by Alain Burrese, J.D., author, speaker Hard-Won Wisdom From The School of Hard Knocks, Hapkido Hoshinsul, Streetfighting Essentials, Hapkido Cane, and The Lock On Joint Locking series, and articles including a regular column on negotiation for The Montana Lawyer
Great advice horribly written Feb 10, 2008
The writing is as bad as the financial advice is good. Page after page of cringe-inducing prose. A tragic parade of verbs attempting to take the place of "said." Dialogue, characters, and scenes so phony that the whole embarrassing exercise is called into question. Yet...
...the financial advice is perfectly sound. In some cases it's even insightful and, depending on the reader's background, potentially life-changing.
One might wish wholeheartedly for a better executed narrative, but at the end of the day, Chilton deserves credit for what he does accomplish: Those willing to slog their way through his material can definitely benefit, in some cases greatly.
A must read! Aug 1, 2007
Everyone should read this book. It is an enjoyable read. It gives the reader valuable information in a way that is not confusing or induces boredom. I am giving copies of this book as Christmas presents this year to family members who are joining the workforce for the first time.
Fantastic and Educational Parable Jun 23, 2007
Beyond Paycheck to Paycheck: A Conversation About Income, Wealth, and the Steps in Between (Total Candor)
Perhaps the quickest read of all financial planning books. Full of most of life's most important financial lessons from one of society's least likely sources: a barber with more money than anyone expects. Through anecdote the barber teaches his curious disciples the key money lessons you needed to know years ago - but probably still don't.
You'll learn quite a bit by reading "The Wealthy Barber." Take notes, however - there's no glossary or index making it's referential value somewhat limited. But then again, the story is so good, you can read it again later if you find you need a refresher.