The Wealthy Barber: Book Review

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If you would like to learn about personal finance but hate the confusing terminology and financial jargon, then look no further than The Wealthy Barber written by David Chilton. This is a book that teaches about basic financial concepts and money management skills in plain understandable English. David uses the power of storytelling to unmask and simplify some of the most basic but confusing financial concepts. If you are new to personal finance, or just want to learn more, this book will surely not disappoint.

In the early part of the book, David talks about what is know in the financial world as the ten percent rule. He calls it the golden secret. “Invest ten percent of all you make for long term growth. If you follow that one simple guideline, someday you’ll be a very rich man.” He said to one of his students. David seems to have a knack with words and is able to “dumb down” the confusing explanations to make them understandable to normal people like you and I. Not only will David tell you to invest ten percent, he will also go into detail of where that ten percent should be invested. Even if you only read the first couple of chapters, you will gain valuable insights into investment concepts and strategy’s.

Another hot topic in the financial world is life insurance. David will cover the different types of life insurance and the one is right for you. He will give stories and examples of which is the best life insurance for the average person. David will also take the time to explain why agents are pushing certain type of life insurance and which types of policies you should stay away from. Finding the right type of life insurance is key to a solid financial plan and David will be there every step of the way.

If you are serious about your finances then The Wealthy Barber is a must read. David’s common sense guide to successful financial planning will give you the building blocks needed to become successful financially. He takes some of the most confusing financial concepts and breaks them down into a story that is easy to read and understand. This is one of the first financial books I read and I still refer to this book on a frequent basis. I would recommend a book of this calibre to anyone interested in learning how money works.