The Wealthy Barber — David Chilton

Summary in 15 minutes. How a small-town barber grew rich on an ordinary income. His first lesson: set aside part of every paycheck for yourself first, and start as early as you can. Before you build wealth, protect your family: get your will and papers in order, buy the right kind of insurance, and stay clear of high-interest debt. Life's big money decisions: the home you live in, your retirement fund, and simple, regular investing for the long term. You've finished reading. Now set aside your 10%, organize your papers and rein in high-interest debt. The rest is a matter of time and consistency.

Key ideas of "The Wealthy Barber: The Common Sense Guide to Successful Financial Planning"

Money Lessons at the Barbershop

How a small-town barber grew rich on an ordinary income. His first lesson: set aside part of every paycheck for yourself first, and start as early as you can.

1. A Barber's Economics: A money book told as a story
2. Pay Yourself 10% First: Save before you spend
3. Compounding and Time: Small amounts, early start

The Foundation of Protection

Before you build wealth, protect your family: get your will and papers in order, buy the right kind of insurance, and stay clear of high-interest debt.

1. Wills and Paperwork: The cheapest protection for your family
2. Life Insurance: Keep Protection and Saving Separate: Why Roy favors term insurance
3. Stay Away from High-Interest Debt: Money that works against you

Home, Retirement and Investing

Life's big money decisions: the home you live in, your retirement fund, and simple, regular investing for the long term.

1. Owning Your Home: Canada's logic, Dhaka's numbers
2. Your Retirement Fund: No RRSP, but the idea still applies
3. Simple, Regular Investing: Trust time, not the market's mood

Take Action

You've finished reading. Now set aside your 10%, organize your papers and rein in high-interest debt. The rest is a matter of time and consistency.

1. 7-Day Action Plan: One task a day. Tick it off when done.
2. One-Page Cheat Sheet: The whole book at a glance. Save it.
3. Final Word: Ordinary Income, Extraordinary Habits: Lessons from the barber's chair

From the free first chapter

The Wealthy Barber first came out in 1989. Its author, a young Canadian named David Chilton, published it himself. It went on to become one of the best-selling books in Canadian history. A big reason is its style: it's a book about money, written like a novel.

There's no magic in Roy's success. No big salary, no lottery win, no secret stock tips. Just a few simple rules he has followed steadily for years. Chilton's message: building wealth takes less brilliance than consistency.

Read the first chapter free · Price: ৳250 · or every book with a membership