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The Wealthy Barber Returns : Dramatically Older and Marginally Wiser, David Chilton Offers His Unique Perspectives on the World of Money by David Barr Chilton
"If you've always thought of money as a dry and dusty subject, let Dave show you just how interesting it can be. While you're at it, learn a thing or two about your personal motivation and how to point it in the right direction. And laugh your socks off, too! I thoroughly enjoyed this book!"
Gail Vaz-Oxlade, TV Host of Til Debt Do Us Part and Financial Author
"The Task Force on Financial Literacy can stop dithering. All it has to do is distribute Dave Chilton's long-awaited The Wealthy Barber Returns."
Jonathan Chevreau National Post Columnist and Author of Findependence
"Very funny. Very smart. This fast-paced journey through the world of personal finance will help a lot of people. I loved it!"
Amanda Lang, CBC Senior Business Correspondent
"A simple plan for a better financial future: Read this book. It's down to earth, fun to read and wise to all the mistakes people make in managing money."
Rob Carrick, Personal Finance Columnist, The Globe and Mail
Gail Vaz-Oxlade, TV Host of Til Debt Do Us Part and Financial Author
"The Task Force on Financial Literacy can stop dithering. All it has to do is distribute Dave Chilton's long-awaited The Wealthy Barber Returns."
Jonathan Chevreau National Post Columnist and Author of Findependence
"Very funny. Very smart. This fast-paced journey through the world of personal finance will help a lot of people. I loved it!"
Amanda Lang, CBC Senior Business Correspondent
"A simple plan for a better financial future: Read this book. It's down to earth, fun to read and wise to all the mistakes people make in managing money."
Rob Carrick, Personal Finance Columnist, The Globe and Mail
224 pages, Paperback
First published January 1, 2011
240 people are currently reading
2788 people want to read
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Displaying 1 - 30 of 439 reviews
August 6, 2017
There are no shocking new insights in this book, it's more like a collection of quick little essays written by someone with a lot of common sense and experience when it comes to managing money. A decent and easy read if you want a general overview of how to manage (i.e. save) your money, but don't expect many new ideas if you've already spent time thinking about your finances.
Also, the author's self-deprecating but lame sense of humor did not really add anything to the book, at least not for me.
Also, the author's self-deprecating but lame sense of humor did not really add anything to the book, at least not for me.
March 11, 2018
ok. I must be a financial geek - I loved this book.
A big change from his previous book is his view of mutual funds - and choosing a good fund family with good fund managers that have a good track to beat the market - it doesn't work. Get index funds as the costs of cdn mutual funds are way too high.
He stands by his recommendation for term insurance - regardless of how many death threats he's received from insurance salespeople. Whole life is ok only if you don't have any debt, have maxed out your TFSA, RRSP and your kids and grandkids' RESP; so, get term insurance.....
TFSA are better than RRSP for most people. Paying down debt versus RRSP depends on your return of the RRSP investment - but you can't go wrong with paying down debt. If you get RRSPs, re-invest your tax refund - don't spend it. If you spend it, TFSA is always better than the RRSP.
And, don't expect historical returns from the stock market as the sovereign debt crisis will be with us for a while....bah humbug.
If teachers start wanting to do leveraged investing, get out of the market now!
Some people are using credit lines as another source of revenue - that's kinda scary. You do need to pay off the principal one of these days.
Be aware of the Diderot effect - buying a house that is too big for you isn't the worse part, it's the other expenses that come with the larger house and the nicer neighborhoud's expectations as these will bankrupt you.
The bank is not your friend. If they are willing to give you a large mortgage, they aren't doing it in your best interest but theirs only. Stay away from lines of credits.
RESP are great and don't be afraid of enlisting the grandparents to contribute - and he suggests playing both sets of grandparents "against" each other....he is funny at times....or tries to be.
The depressing chapter for me was that you should list your future RRSP tax as liabilities - I'll ignore that chapter.
oh yes, spend on experiences and not "stuff". Spend on what will maximize your enjoyment value. Be aware of your lizard brain - which will get you to acquire "stuff" - that worked well for survival when "stuff" was food; not so much when it's a new car or a bigger house.
A big change from his previous book is his view of mutual funds - and choosing a good fund family with good fund managers that have a good track to beat the market - it doesn't work. Get index funds as the costs of cdn mutual funds are way too high.
He stands by his recommendation for term insurance - regardless of how many death threats he's received from insurance salespeople. Whole life is ok only if you don't have any debt, have maxed out your TFSA, RRSP and your kids and grandkids' RESP; so, get term insurance.....
TFSA are better than RRSP for most people. Paying down debt versus RRSP depends on your return of the RRSP investment - but you can't go wrong with paying down debt. If you get RRSPs, re-invest your tax refund - don't spend it. If you spend it, TFSA is always better than the RRSP.
And, don't expect historical returns from the stock market as the sovereign debt crisis will be with us for a while....bah humbug.
If teachers start wanting to do leveraged investing, get out of the market now!
Some people are using credit lines as another source of revenue - that's kinda scary. You do need to pay off the principal one of these days.
Be aware of the Diderot effect - buying a house that is too big for you isn't the worse part, it's the other expenses that come with the larger house and the nicer neighborhoud's expectations as these will bankrupt you.
The bank is not your friend. If they are willing to give you a large mortgage, they aren't doing it in your best interest but theirs only. Stay away from lines of credits.
RESP are great and don't be afraid of enlisting the grandparents to contribute - and he suggests playing both sets of grandparents "against" each other....he is funny at times....or tries to be.
The depressing chapter for me was that you should list your future RRSP tax as liabilities - I'll ignore that chapter.
oh yes, spend on experiences and not "stuff". Spend on what will maximize your enjoyment value. Be aware of your lizard brain - which will get you to acquire "stuff" - that worked well for survival when "stuff" was food; not so much when it's a new car or a bigger house.
July 11, 2018
The short chapters, succinct writing style, and added humour made this book a pleasure to read; as Chilton says himself in the introduction, it’s as if he’s chatting casually in your living room. Many lessons are “common sense” and the book repeats its core ideas, but it was all worth reading. I’ll surely be picking this one up again when I begin my career.
December 10, 2011
I was very interested in what he'd have to say, over 20 years after "The Wealthy Barber". Not nearly as cohesive or eye-opening, but still nice to get a modern take from him.
Things to remember:
"I can't afford it."
Save 10-15% of my gross income.
Reminder: what percentage of my working-years income does my pension pay? (gotta go look that up)
I'll need 60-70% of my working-years income to live on in retirement.
Buy an index fund with a 0.5% MER - I want to match the market's return...S&P 500?
Check out moneyville.ca (Ellen Roseman), squawkfox.com, canadiancapitalist.com, wheredoesallmymoneygo.com, canadianbusiness.com/author/larrymacd...
Things to remember:
"I can't afford it."
Save 10-15% of my gross income.
Reminder: what percentage of my working-years income does my pension pay? (gotta go look that up)
I'll need 60-70% of my working-years income to live on in retirement.
Buy an index fund with a 0.5% MER - I want to match the market's return...S&P 500?
Check out moneyville.ca (Ellen Roseman), squawkfox.com, canadiancapitalist.com, wheredoesallmymoneygo.com, canadianbusiness.com/author/larrymacd...
January 8, 2014
3 stars.....some very thought provoking personal finance ideas....I really wish the author would not attempt so much humor though as I found it detracted from the content
January 3, 2018
3.5/5; 4 stars B+
I read David Chilton's first book,
, about 25 years ago when it first came out and I was starting my career and having thoughts about a 'financial future'. A lot of his general, but sound advice, has stood me in good stead and, although I read lots of other people's books too, his stuck with me as a good foundation book for beginners. Along with books like
, it acknowledges the fact that we're all human and there are important aspects of 'being human' that impact how we deal with money and building wealth.
This newest book has the same feel and would also be a good starting place for beginners who want some thoughts on a conservative way to go about building a solid financial foundation. He touches on a really broad range of topics from investing in race horses (don't do it!) to the basics of how the common indexes work and some ideas about life insurance. Some of the really short, simple chapters explaining the math of the markets as well as the math of RRSPs, TFSAs, and the Canadian Revenue agency, are worthwhile. There aren't a lot of hard and fast rules to follow, except the standard, pay yourself first, make sure to use any tax and savings advantages offered by the government, educate yourself, live simple, enjoy life.
I like the fact that this is a Canadian centric book. There is a chapter with a ton of resources and websites to look into for further info, recommended documentaries, financial bloggers and reporters, etc. A lot of reviewers commented against this authors joking style but I didn't find it annoying.
I read David Chilton's first book,
, about 25 years ago when it first came out and I was starting my career and having thoughts about a 'financial future'. A lot of his general, but sound advice, has stood me in good stead and, although I read lots of other people's books too, his stuck with me as a good foundation book for beginners. Along with books like
, it acknowledges the fact that we're all human and there are important aspects of 'being human' that impact how we deal with money and building wealth.This newest book has the same feel and would also be a good starting place for beginners who want some thoughts on a conservative way to go about building a solid financial foundation. He touches on a really broad range of topics from investing in race horses (don't do it!) to the basics of how the common indexes work and some ideas about life insurance. Some of the really short, simple chapters explaining the math of the markets as well as the math of RRSPs, TFSAs, and the Canadian Revenue agency, are worthwhile. There aren't a lot of hard and fast rules to follow, except the standard, pay yourself first, make sure to use any tax and savings advantages offered by the government, educate yourself, live simple, enjoy life.
I like the fact that this is a Canadian centric book. There is a chapter with a ton of resources and websites to look into for further info, recommended documentaries, financial bloggers and reporters, etc. A lot of reviewers commented against this authors joking style but I didn't find it annoying.
January 13, 2018
This isn't so much a book on investing; it;s more like a guide to Canadian financial planning. Although guide wouldn't be the best word either, because this is mostly just a discussion of many different possibilities and actions.
This would've have been a Godsend a few years earlier, any young Canadian (probably just about to head into college) would benefit greatly from this book, especially if they haven't read anything on Canadian personal finance before. I didn't find it particularly useful until the last 4 or 5 chapters however.
Second last chapter is called Potpurri and it offers a LOT of new reading material related to the subject, and I'm always thankful for that.
This would've have been a Godsend a few years earlier, any young Canadian (probably just about to head into college) would benefit greatly from this book, especially if they haven't read anything on Canadian personal finance before. I didn't find it particularly useful until the last 4 or 5 chapters however.
Second last chapter is called Potpurri and it offers a LOT of new reading material related to the subject, and I'm always thankful for that.
August 18, 2018
(3.0) save more.
That’s what it comes down to. There’s also a bunch of Canada-specific advice about RRSPs and TFSAs and such that I skimmed/skipped.
I did like his earnest, self-deprecating (also mother- daughter- and son-deprecating) humor as well.
Probably best for Canadians just graduating from university. Then you won’t smack yourself for not starting saving sooner, and hopefully you know all of this by the time you’re 30.
That’s what it comes down to. There’s also a bunch of Canada-specific advice about RRSPs and TFSAs and such that I skimmed/skipped.
I did like his earnest, self-deprecating (also mother- daughter- and son-deprecating) humor as well.
Probably best for Canadians just graduating from university. Then you won’t smack yourself for not starting saving sooner, and hopefully you know all of this by the time you’re 30.
January 9, 2021
This updated version of the “Wealthy Barber” sees David Chilton - finance wiz and former Dragon’s Den star - build on his best-seller from 30 years ago with reimagined approaches, discussions grounded in our contemporary Canadian financial landscape, and a pleasant and accessible writing style. This book is extremely easy to digest; seemingly complex financial concepts and lexicon are broken down into layman’s terms and nicely condensed into chapters ranging from 2-6 pages. If you’re like me and the idea of reading a personal finance book doesn’t exactly scream page turner, this “2-minute meals” version is a great way to learn important lessons without pulling your hair out from confusion or passing out from boredom. “The Wealthy Barber Returns” is enjoyably colloquial in its style, you can imagine yourself sitting down with Dave in a lazy boy, discussing TFSA contributions over commercial breaks during the Leafs game. Overall I thought this was an excellent book packed with tons of useful info and I would recommend it to everyone who has an interest in keeping their bank accounts healthy and setting themselves up for success down the road.
May 11, 2021
I've always liked David Chilton ever since watching him on the TV show, Dragon's Den. I bought this book ages ago but haven't read it until now. For a Canadian who is new to personal finance and financial concepts, and doesn't really know where to begin with their own finances, this is a perfect book to introduce them to all that and one that I will be recommending if anyone ever states that they want to learn. It is a shorter book that is easy to read (short chapters) with some light humour thrown in. For someone like myself, who already knows everything in this book and is slightly more knowledgeable with money, it may be a bit boring. However, I still enjoyed this. It was a quick and entertaining read.
September 22, 2011
I really liked this book.
I didn't give it a 5, because it just didn't hook me like the original wealthy barber did. I loved the first half, but the last half where he gives his more random thoughts was sub par.
The topics were excellent, the advice current and helpful.
I especially like his thoughts on credit cards, and have made it a must read section for my 19 year old daughter.... who loves collecting her bonus points.
I didn't give it a 5, because it just didn't hook me like the original wealthy barber did. I loved the first half, but the last half where he gives his more random thoughts was sub par.
The topics were excellent, the advice current and helpful.
I especially like his thoughts on credit cards, and have made it a must read section for my 19 year old daughter.... who loves collecting her bonus points.
December 19, 2012
Maybe The Wealthy Barber was a better read, but I didn't read it and instead jumped into this "sequel." The financial advice ranged from stupidly simple to doesnt-apply-to-me-I'm-not-Canadian. That wouldn't have been as bad, but Chilton tries to be funny in his writing. He's about as funny as a stand up comedian laughing at his own jokes when no one in the crowd is. Awkward.
May 30, 2025
Finally done! Everyone should read this book
January 16, 2024
2024 goal: improved financial literacy. This helped ✅
October 18, 2020
Un excellent livre qui tombe à point quand tu souhaites te remettre sur la track avec tes finances. Les chapitres sont courts et se lisent bien.
November 21, 2018
“One of the most important things I’ve learned in 25 years in the world of finance and 20 years
since “The Wealthy Barber” – people stink at investing!"
Synopsis:
Dave Chilton, author of The Wealthy Barber always swore he'd never write a sequel to the book that sold more than two million copies nationwide.
But 22 years later, the sequel has arrived -- The Wealthy Barber Returns. In his new book, Chilton tackles society's addiction to debt and touches upon many important and well-known personal finance lessons -- lessons he says have become lost in today's world of plummeting savings rates, skyrocketing debt and disappointing investment returns
My Take:
This short book which feels like a collection of essays on different topics is not a complete overhaul of the original book, but rather complements it and updates it where needed.
It does not discuss hugely new or complex concepts. The author earned my respect by not only reiterating the good old solid foundations and advice he bestowed upon us mere mortals in this tough financial world but revisiting one or two pieces of advice that were perhaps valid two decades ago but no longer apply today. In a way, he is not afraid of correcting his own advice which I respect about him. Not biased towards his views from 20 years ago.
I have learnt a few new things from this book and it is not easy to summarise all my take aways here. I might add them to my review at a later date once I have taken enough notes of my own and reflected on the book.
My only comment to Non-Canadian readers is that this book was mainly written for the Canadian audience and the specifics of some financial products such as tax-efficient RRSP, TFSA etc is exclusive to Canada. I had to look up to similar concepts or products here in the UK but the same principles apply once you have adapted them to your own financial products and tax laws.
I still hugely recommend reading his first book which is still gold and foundational before reading this book.
It serves as a reminder of key concepts, more detailed discussion of some concepts and a few new concepts and tips.
Quotes:
"The only thing worse than a bad investment is a bad investment made with borrowed money."
"“I can’t afford it” – you have to learn to say those four words."
"I think people should spend more on experiences and less on stuff, but then again, within the
context of affordability."
October 4, 2024
Very good book - solid financial advice, easy to follow, simple logic.
I thought this was an updated version of the original The Wealthy Barber, which I wanted to read just because it was recommended by so many people. It turns out it is not quite a revised version. It's the author explaining again some of his core ideas, but this time in a very different style. Which got me curious to read the original The Wealthy Barber. I'll do that next.
The core idea of this book is: save money. If you save regularly, and start early, then you can have a good retirement thanks to the power of compound interest rates.
The author touches on interesting points, from motivation to save, to how to think about saving, to whether you should put your saving moneys in rrsps versus resps versus mortgage payments and so on. Yes, this is a Canadian author.
The book also talks about not trying to beat the market. Invest in ETFs and you'll do great, not being subject to having to chance someone being better on worse than the market (on average everything washes out), but also taking advantage of not paying people high fees for their investment skills if they're not going to guarantee a higher return anyway.
Recommended book.
I thought this was an updated version of the original The Wealthy Barber, which I wanted to read just because it was recommended by so many people. It turns out it is not quite a revised version. It's the author explaining again some of his core ideas, but this time in a very different style. Which got me curious to read the original The Wealthy Barber. I'll do that next.
The core idea of this book is: save money. If you save regularly, and start early, then you can have a good retirement thanks to the power of compound interest rates.
The author touches on interesting points, from motivation to save, to how to think about saving, to whether you should put your saving moneys in rrsps versus resps versus mortgage payments and so on. Yes, this is a Canadian author.
The book also talks about not trying to beat the market. Invest in ETFs and you'll do great, not being subject to having to chance someone being better on worse than the market (on average everything washes out), but also taking advantage of not paying people high fees for their investment skills if they're not going to guarantee a higher return anyway.
Recommended book.
January 1, 2019
Read this as a follow up to the original Wealthy Barber
They overlap in content but the approach is different. For intro'ing people to personal finance, I'd recommend reading this book first, and then following up with Returns.
This was an interesting read because it touched on a lot of the same topics as the first book, but provided additional ways of looking at the tactics, often using a personal story of someone the author had interacted with. Basically a bunch of (usually simplified) case studies in different aspects of personal finance.
Also included a lot of updates given how much certain sectors have changed since the original book (buying a house for $70k 😅).
Again, another relatively quick read that's easy to go through (and refer back to). Worth the 2-3 hours, for sure.
They overlap in content but the approach is different. For intro'ing people to personal finance, I'd recommend reading this book first, and then following up with Returns.
This was an interesting read because it touched on a lot of the same topics as the first book, but provided additional ways of looking at the tactics, often using a personal story of someone the author had interacted with. Basically a bunch of (usually simplified) case studies in different aspects of personal finance.
Also included a lot of updates given how much certain sectors have changed since the original book (buying a house for $70k 😅).
Again, another relatively quick read that's easy to go through (and refer back to). Worth the 2-3 hours, for sure.
June 7, 2023
Witty, relevant, concise in definition, and an easy read. Chilton makes financial planning, by addressing the common thread that most people do not wish to tackle on money in a light insightful way. We all want to live a balanced life, both while we are building " wealth " and then in retirement when we do not possess the " means ( job ) " to maintain equilibrium. This should be a " should read " in all educational programming in schools. We live in a world where access to information is infinite. The advise by Chilton needs to be part of that.
March 16, 2019
This is my third time reading this and I’m still gleaning good financial nuggets that apply to my present financial situation. This book is easy to read, funny, and provides a straight forward approach to managing your finances. Love this book so much!
May 27, 2020
If you're Canadian and have investments, personal finances or loans or anything related to money, I'd highly recommend this book. It's written for the non-money savvy person and there is enough humour to keep the reader engaged and invested (pun intended).
Honestly, when my Dad told me to read this book I groaned and rolled my eyes. Now I'm really happy I've read it, I feel more confident when it come to looking at my savings and I now have a better idea of what I want to do and look for in the future.
Honestly, when my Dad told me to read this book I groaned and rolled my eyes. Now I'm really happy I've read it, I feel more confident when it come to looking at my savings and I now have a better idea of what I want to do and look for in the future.
December 17, 2022
This is the first finance related book I have read. At 24 I don’t have much knowledge on dos and donts with regards to savings and investments but I found this book very comprehensive. Plenty of good and fair advice that I’ll be taking into consideration moving forward.
April 5, 2024
This is an excellent personal finance book. It covers every major topic in a strategy sense and outlines the arguments for different approaches. The book keeps it simple, isn’t preaching, and is realistic. If you’re looking to feel in control of your finances and feel on a path this is a great book to read. You don’t need to be an expert to understand the concepts. I listened to this on audible, the narration was awesome and lively.
May 28, 2022
digestable, good teachings, overall pretty great finance book!
March 18, 2025
banger book. commentary top notch. and acc taught me about finance
August 11, 2024
Trevor has told me to read this book for years. Nothing like deep cleaning and learning how to save at the same time
June 26, 2025
Consumed 😤 Super light and funny. Also informative for Canadian finances
February 23, 2025
Simple et efficace, mais très intéressant et pertinent! Permet de voir les aspects des finances personnelles de différentes façons tout en ayant un ton humoristique excellent.
February 8, 2018
I have not read the prequel and I have prior experience researching personal finance (TFSA, RRSP, ETFs, credit cards, Ledger CLI, Canadian Couch Potato, Antifragile).
I found the first half of the book really boring from a technical side although it was amusing. I think it is effective to really drive home the basics with humor and different perspectives but it didn't do much for me personally. He acknowledges this himself, direct quote from book: “Oh, David Chilton, he's that Barber guy who just keeps saying the same basic things over and over”.
I found the second half more enjoyable and learned a few things like why the Dow Jones is a horrible index (very topical since as I was reading this book it had the largest point drop in history).
I think this is a good beginner personal finance book.
I found the first half of the book really boring from a technical side although it was amusing. I think it is effective to really drive home the basics with humor and different perspectives but it didn't do much for me personally. He acknowledges this himself, direct quote from book: “Oh, David Chilton, he's that Barber guy who just keeps saying the same basic things over and over”.
I found the second half more enjoyable and learned a few things like why the Dow Jones is a horrible index (very topical since as I was reading this book it had the largest point drop in history).
I think this is a good beginner personal finance book.
January 12, 2015
If you find financial books to be snore-fests, this might be a good option for you (if you’re Canadian). It was his original Wealthy Barber book that got me paying attention to my finances & planning for the future when I was in my late 20s. Twenty-some years later, I’m looking at a reasonably comfortable retirement because of that attention.
The basics are simple, but not always easy.
1. Figure out how much you make.
2. Then track your spending.
3. Make sure item 2 is less than item 1.
4. Save, save, save (whether you use an RRSP or a TFSA or both if you’re lucky)
This may involve changes to your life. When I decided to put a push on to be able to retire early, I gave up cable TV (heck, all TV), eating out when by myself and buying magazines. I never did get internet at home or a cell phone. Other people will give up different things. If I hadn’t travelled widely for the last 12 years, I’d be able to retire right now, but that was a conscious choice based on what makes me happy.
I think the most important message that Chilton articulates is this: figure out what makes YOU happy. Don’t worry what the neighbours think, what your family thinks, what anybody else thinks. Plan for the things that make your life worthwhile and don’t bother with the “stuff” that just takes your money and doesn’t add to your quality of life. You don’t need ALL the toys, just the few that truly enrich you.
And, you know, once I had grasped how important these fundamentals were, I started reading the “other” financial books, the ones that explain the stock market and estate planning and all that scary stuff. Yes, the Wealthy Barber is a gateway book, leading you to learn about the hard stuff.
The basics are simple, but not always easy.
1. Figure out how much you make.
2. Then track your spending.
3. Make sure item 2 is less than item 1.
4. Save, save, save (whether you use an RRSP or a TFSA or both if you’re lucky)
This may involve changes to your life. When I decided to put a push on to be able to retire early, I gave up cable TV (heck, all TV), eating out when by myself and buying magazines. I never did get internet at home or a cell phone. Other people will give up different things. If I hadn’t travelled widely for the last 12 years, I’d be able to retire right now, but that was a conscious choice based on what makes me happy.
I think the most important message that Chilton articulates is this: figure out what makes YOU happy. Don’t worry what the neighbours think, what your family thinks, what anybody else thinks. Plan for the things that make your life worthwhile and don’t bother with the “stuff” that just takes your money and doesn’t add to your quality of life. You don’t need ALL the toys, just the few that truly enrich you.
And, you know, once I had grasped how important these fundamentals were, I started reading the “other” financial books, the ones that explain the stock market and estate planning and all that scary stuff. Yes, the Wealthy Barber is a gateway book, leading you to learn about the hard stuff.
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