Stop Working : Here's How You Can!: Using the Strategy of Canada's Youngest Retiree

by Derek Foster

Stop Working, Here's How You Can smashes some common myths and shows the reader exactly how anyone can achieve early retirement following a simple, proven strategy. The book raises provocative questions such as, "If your financial planner has some special investing skill, why isn't he rich already - and retired?" And "If he can't create an early retirement for himself, how will he do it for you?" Written in common-sense English, the book challenges conventional "wisdom" and provides a real-life strategy that the author followed to escape the rat race decades earlier than many people ever thought possible.

Genres: Nonfiction, Finance, Self Help, Business

180 pages, Paperback

First published January 1, 2005

About the author

Derek Foster was born in Ottawa in 1970 and graduated with a Bachelor of Commerce (Honours) degree in 1993. He later completed the Canadian Investment Funds Course developed by the Investment Funds Institute of Canada.

He has travelled and lived in many countries including Canada, the US, Europe, Asia, and Australia.

After quitting the rat race at 34 and becoming a millionaire using simple ideas, he shared his personal experiences and strategies in his National Bestselling Books.

Reviews

[Eric · Rating 1 out of 5]

I found this book in a geocache in Australia while hiking and thought I'd give it a read. It was a very quick read and not particularly well-written. It may be of some use to a beginning investor, but I think the title and premise are misleading. Investing in dividend stock that pays ~ 8% and saving ~ $200 a month, as he did, would not result in an early retirement. It would take roughly 9 years to double his money at that rate. He claims he retired at age 34, giving him around 18 years of earnings. He must have some undisclosed source of income or have gotten lucky with some of his investments... That, and it is written for Canadian investors only. Read 4 Hour Work Week if you're interested in a more effective way to retire early.

[Andrew · Rating 3 out of 5]

A basic (but good) book about personal finance, written in a casual tone for the rookie or novice investor. The main strategy presented is a combination of dividend-paying stocks and a 'living within your means' philosophy. Some of the specific stock/fund/trust picks are quite dated. It's worth a read to spark some investment ideas.... but borrow it from your library, don't buy it.

[Ahmed Marzouk · Rating 4 out of 5]

The book contains great advice for Canada's youngest retiree.

[Colin Watts · Rating 5 out of 5]

Life Changing

[Jessica · Rating 5 out of 5]

A great read for people who are just starting to get into stocks and investing but aren't sure where to start!

[Nathanael Lockhart · Rating 2 out of 5]

Pretty good book to get started, fairly out of date at this point though.

[Darren · Rating 5 out of 5]

Wow, there is some really good advice in here, especially for Canadians.

I disagree with his section on RRSPs as this section seems to generalize the benefits without considering people could have much higher incomes than he had, therefore making RRSPs even more beneficial.

Also, in his final summary where he breaks down income/expenses before and after retirement there are a number of expenses he lists that have nothing to do with whether you are retired or not, and he counts investing for retirement as an expense. It's not an expense, the money never left your hands. It would be similar to investing for anything else.

Even with these perceived flaws (from my point of view anyway) it is a fantastic read for those wanting to get ideas on how to save and pay for retirement.

[Gossymotto · Rating 3 out of 5]

A good book to help get started on self-directed investing. Especially good if you are Canadian since it is written by Derek Foster from Wasaga Beach, Ontario.

Between this book and Phil Town's "Rule 1" I ave been able to take over my investments, survive the collapse of the markets and economy through 2008, and come out ahead by the end of 2009. I even did well enough to compensate for my still lagging mutual funds that I left alone, just in case. That turned out to be a mistake but now I know better....and you should too.

[Jonathan Cook · Rating 4 out of 5]

A good read for those trying to make sense of retirement planning and investing. Definitely has several short falls in it, the concepts will lead you to learn more for yourself and how to manage your income.

[Jody · Rating 5 out of 5]

I will be investing in stocks in the very near future and look forward to reading the remainder of his books (5 in total)

[Dale · Rating 4 out of 5]

I Cant get enough of this guy!

[Jennifer · Rating 5 out of 5]

Fantastic book with simple clear ideas. Great for someone new to investing.

[Sara · Rating 2 out of 5]

Fast read with a few good reminders.

[Carbon · Rating 4 out of 5]

This is a good book and explains investments very well. A must read for any Canadian interested in investments.

[Rob Tesselaar · Rating 3 out of 5]

A bit dated, but provides sound advice for conservative investment over the long term and consideration about how much you really need to save for retirement if your lifestyle is fairly simple.