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4.7 out of 5 stars31
4.7 out of 5 stars
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on 21 September 2010
After having read the rave reviews of this book, which talked of it in terms of "financial advice for dummies" and recommended it for high school kids, I had high expectations. However, to me (a university professor with a Ph.D. in English) it was at times too complicated. Apparently there are dummies and dummies, and I fall into the extreme category. When Barber encouraged me to read the financial pages of the newspapers I felt betrayed. I'm sure it's a good thing to do but there is just no way I would do that - or be able to take it in if I did. I know that makes me not just an idiot but an idiot with an attitude problem, but I really thought that was the sort of person this book was meant to address. Also, all that talk about sports got on my nerves. There may be people who care about who wins what, but I'm not one of them. The basic concept of saving 10 per cent of your salary went home though. I felt it's a bit too late for me to start doing that or at least to reap the full benefits of it (I'm 55), but the concept of "paying yourself first" is a good one and I am now encouraging my 24-year-old daughter to do so.
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on 16 April 1998
After having read rave reviews of this book, I was somewhat crestfallen after reading it. I suppose that just goes to show there is no such thing as a magic bullet. I believe the book would be most helpful for those who have little or no concept of financial management. This book is certainly not a worthwhile read for those with much savy about finances. I must admit, though, I did learn a few things about wills, real estate and life insurance that I didn't know before. On the other hand, much of his advice about retirement plans and general investing is overly simplistic. This book reminds me somewhat of the spate of books that came out in the late 70s and early 80s telling people that a large percetage of their assets should be held in gold (bullion) coins. Well, those coins that reached a peak of about 800 dollars or so at that time are now worth about 300 dollars. Factor in inflation and they are worth much less than that. Some of Chilton's recommendations, nonetheless, should prove useful. I believe other books are much more comprehensive and don't burden the reader with a lot of silly fictional dialogue. In comparison, I learned a lot more reading "The Millionaire Next Door," although it too was geared toward a popular audience.
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on 6 September 1998
Chilton's book is a must read for anyone over the age of 10.
Written as a novel, Roy the Barber takes clients through easy steps to create wealth. He discusses everything from the new Roth IRAs to home buying, mutual funds, compounding intereset, investment strategies and how to save money necessary for achieving financial wealth. His advice is practical, sound, and realistic.
Unlike most financial books, The Wealthy Barber is free from technical jargon, and encourages readers to take action now to be smarter about money issues.
Even seasoned financial wizards benefit by discovering better ways to explain finances to others.
Read it, and pass it on to your spouse, family, children and friends.
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on 26 April 1998
Because of my experience in the investment school of hard knocks, a lot of aquaintences and family have come to me for financial advice--I mean very basic financial advice. Young people (20's-40's) who haven't started saving for retirement, etc. This tome will become the first book I will recommend to "rookies." Perhaps very basic, hey, there are many, many people out there that need just that! The quote, "The best time to plant an oak tree is 20 years ago, the second best time is right now." If more people just started implementing the very basic principles presented here, they would all be better off and reduce their own stress level looking at their future financial security.
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on 25 May 2010
This book is about preparing one to a better financial future and a more comfortable retirement. David stressed multiple times the importance of having a long term savings account with automatic deduction from a checking account in order to have plenty of cash at the age of retirement. One of the numeric examples is if one deposits $200 a month for a period of 30 years, s/he ends up about 1.4 million dollars with a 15% annual return in average, instead of 72000 dollars; that is the power of compound interest. Deduction amount should be 10 per cent of your total income at least that was what he suggested and it should be automatic not voluntary to keep one motivated.

From why to get a 30 year mortgage instead of 15 to what kind of life insuance to get, David has given sound and basic financial advice. He also indicated the underlying working logic for most of advices with understandable terms.

The book is finished with income tax advice in relation to potential savings made. If you have at least 20 years to work until retirement, you can extract lots of useful and practical information from this book.
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on 3 February 1999
I was enthralled by this book; as an 18-year old and part of a "young couple", just starting out and wanting to get on in life - do the things we want, rather than, like both our parents, lacking the funds to do so - Chilton's book really made sense. Even someone (like me, often) working for minimum wage can afford to chip a little off the bi-monthly cheque to put away for the future... the amount it takes to insure my car could ensure I'm travelling the world in a few years! (well, decades I guess.) As well as provide my own children with the things they need (and maybe a few wants...), build a dreamhouse, buy some land, and live the life we want.
Chilton's simple, straightforward approach has inspired me to look in other places to increase my financial know-how and confidence, such as "Personal Finance for Dummies", and all the investing sites I can find, rather than being frightened and intimidated by them. I highly recommend this book to anyone who doesn't want to save or invest simply because they don't know how to do it.
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on 15 November 2009
Since this book is targeted toward beginners, I think the author did an excellent job instructing on key financial principles with a story where the barber, Roy, instructs three other people, Dave, Cathy, and Tom, when they get their haircuts.

I believe that the best advice that the barber gives is to pay yourself the first 10% from your paycheck and make it automatic so you don't even touch the money. I am sure that readers might have heard about it before because several authors write about it, but if more people actually implemented it, they would not find themselves in as many financial predicaments. Other topics include wills, life insurance, real estate, savings, and taxes. I enjoyed reading it very much.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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on 5 July 2000
A unique book on financial planning which is written in the form of a story. Quite simply this is all you need to read in order to secure your long term future and prosperity. I cannot recommend it highly enough. Follow the advice contained within the pages and at some point in the future you will be raising a glass to the author (and you will not be drinking Liebfraumilch!) The advice is just as pertinent for the UK reader.
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on 4 March 1999
This was a wonderful book. There were some things that I didn't need, (like how and when to write a will,) but there is good financial information on every aspect of adult life. This book will not tell you how to get rich on the stock market. This book will tell you how to get a grip on your future, and plan ahead. The author understands that the average reader doesn't have a degree in economics, so the number crunching is easily spelled out. An eighth grader can do the math he describes. The information presented is by nature, rather dry, (financial, tax and legal stuff) but Chilton presents it in the best possible way.
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on 25 May 1999
This book is a great fire starter for people just entering the work force. Easy to read and understand. I have given it to a number of friends who seem to be missing the boat. Great graduation present for high school or college.
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