Ideas Worth Sharing | The Wealthy Barber | Book Review | Dave Buzanko | Heartfit365

This is a book review with a twist. Not only is this a review of some very good and basic investment advice but I share with you what would have actually happened had I taken all of the books investment advice 30 years ago. Fun book review with a reality check. Book Ranking: ♥♥♥ 3 out of 5 Heartfit hearts (only because this is the original version of the book and some of the strategies are dated). Main Premise: This is a common sense guide to financial planning in an easy to read story format. What follows are the top 6 ideas from the book that are still worth sharing. Products available through Amazon discussed in this video: The Wealthy Barber: https://amzn.to/2DmxViK The Wealthy Barber Returns: https://amzn.to/2RFS0Uj Rich Dad Poor Dad: https://amzn.to/2Fd88ee Rich Kid Poor Kid: https://amzn.to/2yQo6FO Cash Flow Quadrant: https://amzn.to/2OmlWmc Ideas Worth Sharing: The following are the best ideas worth sharing from the book The Wealthy Barber by David Chilton. All opinions expressed in this review are based on my personal perspective and are in no way meant to be authoritative advice. Please seek out a certified professional for health and financial advice. 1. Most people across North America have very low financial literacy and not much has changed over the last 30 years. Today 67% of adults surveyed are not confident with their own finances. This is a major problem. 2. Invest 10% of what you make each month with forced savings. You can then take those savings and invest automatically with Registered Savings Plans, Stocks or Real Estate. Important to note that the book indicated that in the long run, the stock market usually averages 15% ROI but in reality, over the last 30 years, the stock market (S&P 500) only averaged 6.73%. 3. When it comes to buying mutual funds, use dollar cost averaging to buy mutual funds each month and take advantage of both high and lower fund prices. 4. Wills, Life Insurance and Responsibilities. - Wills - Get one now. Both a standard and living will. - Life Insurance - Buy term insurance to take care of your family today. -Responsibility - Go back and make sure you have a will and insurance to take care of your family should the unexpected happen. Plus save for a rainy day. 5. RRSP's in Canada are a great savings vehicle for many people who do not have a pension. Your strategy should be to invest in high risk funds at the beginning of your working career and switch to low risk funds as you approach retirement. 6. Owning was always better than renting as long as you can afford the deposit. 7. Create a monthly budget and live within it. This is not get rich advice, this is a common sense guide to financial security and the updated version, The Wealthy Barber Returns gives a more updated version of strategies you can use today.