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The Lazy Investor
This book details a step-by-step plan for you to gradually accumulate wealth over time without falling victim to the high fees many beginner investors pay. A strategy simple enough for anyone to understand and one that runs on "autopilot" once it's set up.
paperback
First published January 1, 2008
11 people are currently reading
222 people want to read
About the author
Derek Foster
34 books11 followersDerek 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.
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.
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Displaying 1 - 29 of 29 reviews
March 15, 2021
Some of the companies suggested in this book as a great "invest and forget" strategy do not exist anymore! and I'm convinced the strategy it offers to “buy stock, put it on autopilot and forget it" is not a good one.
Anyhow although the book is very outdated in 2021, it still teaches you some good concepts about investing in stock market like what DRIPs and Dividend Aristocrats are...
Anyhow although the book is very outdated in 2021, it still teaches you some good concepts about investing in stock market like what DRIPs and Dividend Aristocrats are...
December 9, 2024
Great and simple tips for investment, just wish this was more current and up to date
February 21, 2017
I absolutely loved reading this book. It's easy to read and understand.
I had been wanting to get into investing for a good few years now but could never figure out how to do it because it's confusing. This book was able to clear up all of that confusion.
I would certainly recommend this book to anyone who wants to get into investing or just wants to understand how investments work in Canada.
I had been wanting to get into investing for a good few years now but could never figure out how to do it because it's confusing. This book was able to clear up all of that confusion.
I would certainly recommend this book to anyone who wants to get into investing or just wants to understand how investments work in Canada.
October 31, 2021
Out of date, but some decent strategies- worth a look for Canadians
February 2, 2025
Basically Foster's advice is to buy dividend stocks and then use DRIPs to increase your holdings.
The book was pretty good. I mean, there were a lot of parts that were unnecessary, but I enjoyed the reminder that stock dividends can be like bond yields. In that way it reminded me of some parts of Security Analysis where Graham talks about different types of securities, and how the safety comes from the quality of the business, not the shape of the investment (bond, stock, preferred, etc). Mind you, I saw that because I had read Security Analysis, I'm not sure if Foster spells it all out like Graham did.
The book was pretty good. I mean, there were a lot of parts that were unnecessary, but I enjoyed the reminder that stock dividends can be like bond yields. In that way it reminded me of some parts of Security Analysis where Graham talks about different types of securities, and how the safety comes from the quality of the business, not the shape of the investment (bond, stock, preferred, etc). Mind you, I saw that because I had read Security Analysis, I'm not sure if Foster spells it all out like Graham did.
May 26, 2017
An interesting introduction to a type of investing (DRiP) that I had no idea existed. The concept behind it seems to check out (buy stock, automatically re-invest the dividends to buy more stock), but I don't know enough about investing to know if it really is an actionable strategy. Foster is very enthusiastically exuberant about it, which makes me a little doubtful of it - at times I felt like I was getting a sales pitch instead of information (despite him not actually trying to sell anything).
January 20, 2020
I'm not sure how I went about in making this purchase, but I do believe it was recommended on a website for people who are beginners in investing. This book is an easy read.
It doesn't use unnecessary financial jargon, or over complicates the message it's trying to get across. The idea about buying and letting it grow automatically is presented to you.
Good book for the absolute beginner interested in investing.
It doesn't use unnecessary financial jargon, or over complicates the message it's trying to get across. The idea about buying and letting it grow automatically is presented to you.
Good book for the absolute beginner interested in investing.
January 7, 2017
Very practical advice. Just re-read it to remind myself of relatively simple actions I can take to invest wisely. Content is a bit dated now so must keep that in mind. Highly recommended for anyone in Canada who wants direct control of their personal investments.
October 20, 2017
I got a lot out of this however it was last updated in 2012 and originally written in 2008 so I'm curious about current opinions on this subject...
February 3, 2020
pretty simple concepts, i'll incorporate them. a little unuseful due to date and canadian background but still works for US investors.
January 9, 2024
Kicked off my investment journey, so many years ago
March 26, 2022
I thought I’d gain more from this book than I did - being from Canada the appeal certainly was there, to finally read something that’s not US-centric. However reading it felt more like a workshop’s workbook—which would’ve been fine if it hadn’t unfortunately become obsolete by now. The step by step guide of how to set up DRIPs would’ve been best suited a decade ago, but now with the advent of FinTech and the associated disruption of the minimum financial entry point into investing, we now actually have a brand new set of ways to set up our investment practices and things like DRIPs. Also, the list of companies he recommends might need some revisiting, because again things have changed.
December 19, 2016
The greatest praise I have of this book is for its clarity. The subject of finance is a murky one and can be confusing for those who are financially illiterate. Derek Foster does a great job of explaining the world of stock investing in layman's terms. If you go into reading this book with no knowledge of the subject matter you will come much more knowledgeable and confident. This book won't turn you into a sophisticated, master trader, but that isn't the author's intent.
This book is written for the Canadian investor too which is a big plus. Most books on finance and investing refer to the American market so it's about time that a book has been written with Canadians in mind.
That being said, if you are competent investor already, than this book is not for you. Many of the negative reviews here seem to be from self-proclaimed experts who criticise this book as being too simple. Well guess what? This book isn't for you, it's for people that are starting out.
I do concede that the book's subtitle, "Start with $50..." is completely misleading. No one has ever attained wealth with an initial investment of only $50. Foster even admits within the book itself that your initial investment will require more than $50. All DIY finance books overpromise with unrealistic titles though. This is to get the attention of the passive shopper so they will pick the book up off its shelf and put it in their shopping bag. The titles of all self-books need to be taken with a grain of salt.
My only real compaint about this book: I read the Revised Edition from 2012. This edition contains an extra chapter at the end which details all the changes that have occured in the financial world since the book was written in 2006. That means that some of the material learned throughout the book is rendered null and void when you read the final chapter. Foster should have gone back and rewritten the text that is no longer relevant instead of shoehorning the new info into an epilogue. This way we wouldn't have had to unlearn some of the info we aborbed in earlier chapters. I'm referring specifically to the tips he shares on Income Trusts. Ignore all the info on that subject as it no longer applies after the changes made by the federal government in 2011. Also, there is no info on Tax Free Savings Accounts (TFSAs) since they weren't created until 2008. Foster briefly mentions them in his addendum but there's no real info offered. I suspect that will be a future book from him.
This book is written for the Canadian investor too which is a big plus. Most books on finance and investing refer to the American market so it's about time that a book has been written with Canadians in mind.
That being said, if you are competent investor already, than this book is not for you. Many of the negative reviews here seem to be from self-proclaimed experts who criticise this book as being too simple. Well guess what? This book isn't for you, it's for people that are starting out.
I do concede that the book's subtitle, "Start with $50..." is completely misleading. No one has ever attained wealth with an initial investment of only $50. Foster even admits within the book itself that your initial investment will require more than $50. All DIY finance books overpromise with unrealistic titles though. This is to get the attention of the passive shopper so they will pick the book up off its shelf and put it in their shopping bag. The titles of all self-books need to be taken with a grain of salt.
My only real compaint about this book: I read the Revised Edition from 2012. This edition contains an extra chapter at the end which details all the changes that have occured in the financial world since the book was written in 2006. That means that some of the material learned throughout the book is rendered null and void when you read the final chapter. Foster should have gone back and rewritten the text that is no longer relevant instead of shoehorning the new info into an epilogue. This way we wouldn't have had to unlearn some of the info we aborbed in earlier chapters. I'm referring specifically to the tips he shares on Income Trusts. Ignore all the info on that subject as it no longer applies after the changes made by the federal government in 2011. Also, there is no info on Tax Free Savings Accounts (TFSAs) since they weren't created until 2008. Foster briefly mentions them in his addendum but there's no real info offered. I suspect that will be a future book from him.
March 19, 2010
This book is one I'd highly recommend to any Canadian who wants to set up a Dividend reinvestment and share purchase plan (DRIP and SPP).
Fosters style is breezy and easy to read and full of references to websites, forums, and other sources of help to get you on your way. The book has a lot of specifics and I especially like his how to steps on setting up investments for your kids.
I'm a big fan of using DRIPS and SPPs because I saw how well it works when I was buying my employers stock for 20 years. Its amazing!
I didn't agree with his philosophy on registered education savings plans...he doesn't use them. I think that is shortsighted because basically, the governement gives you free money to augment your savings.
Fosters style is breezy and easy to read and full of references to websites, forums, and other sources of help to get you on your way. The book has a lot of specifics and I especially like his how to steps on setting up investments for your kids.
I'm a big fan of using DRIPS and SPPs because I saw how well it works when I was buying my employers stock for 20 years. Its amazing!
I didn't agree with his philosophy on registered education savings plans...he doesn't use them. I think that is shortsighted because basically, the governement gives you free money to augment your savings.
June 24, 2016
"I like this book"
It might be controversial whether DRIPing is going to sustain one to have an early retirement. Nevertheless, this book provides a good alternative for some simple long term investing for regular folks. The idea that impresses me most was not about how early the author got to early retirement, but his definition of retirement that was revealed in the book - not about having unlimited material possession or "n" million of money in the bank, but the humility and satisfaction of understanding what is enough. I like this book.
It might be controversial whether DRIPing is going to sustain one to have an early retirement. Nevertheless, this book provides a good alternative for some simple long term investing for regular folks. The idea that impresses me most was not about how early the author got to early retirement, but his definition of retirement that was revealed in the book - not about having unlimited material possession or "n" million of money in the bank, but the humility and satisfaction of understanding what is enough. I like this book.
October 28, 2014
Easy to read, easy to understand, easy to implement a plan.
It is a 'lazy' way to invest, and probably one of the less risky ways. But just because it's simple doesn't mean it's easy. You still have to figure out what companies you want to invest in, and how much to invest, etc.
The hardest part is finding a good discount brokerage firm that will do partial share purchases and virtual DRiPs. You'll know what that means after reading this book.
It is a 'lazy' way to invest, and probably one of the less risky ways. But just because it's simple doesn't mean it's easy. You still have to figure out what companies you want to invest in, and how much to invest, etc.
The hardest part is finding a good discount brokerage firm that will do partial share purchases and virtual DRiPs. You'll know what that means after reading this book.
November 4, 2012
In my opinion the best of all Derek Foster books, and the one to buy if your only going to buy one in his series.
The principals in this book actually work and got me started in DRiP Investing with as little as $50/month just as the book claims ... Now I am investing many times this a month!
The principals in this book actually work and got me started in DRiP Investing with as little as $50/month just as the book claims ... Now I am investing many times this a month!
April 16, 2014
I've never really been interested in anything to do with finance. Foster made his book an easy to read, and understand, guide to get started investing. Overall I found this to be a great read for the subject matter.
March 31, 2015
For someone who knew absolutely nothing about stocks, this really opened my eyes. I didn't realize all the options that were available to me, or that it was possible to do on my own. Definetly something to think about.
April 4, 2015
Simple, easy to understand. Several chapters didn't apply to me as I don't have kids. Otherwise sound, simple advice. Book really only explains investing in dividend producing stocks. No ETFs or other investment vehicles.
February 11, 2013
It had a good explanation about DRiP (Dividend Reinvestment Program)with a step by step on how to buy your first share
March 13, 2014
A good guide for Canadians interested in starting DRIPs.
April 27, 2015
As a person with few assets I have not had a chance to try out the advice in this book but it seems pretty sensible.
August 22, 2014
I don't remember shit all from this book, so it must not have been that great. I may read it again now that I know more about investing to see if this guy is full of crap.
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August 20, 2016Beautiful, clear, concise, especially on an intimidating subject.
August 1, 2012
The best thing since counting my pennies as a kid!
March 31, 2018
All investment advice should be taken with a grain of salt and verified for currency. This book is ten years old and that shows in examples used, but most of the principles remain sound. I am not convinced that setting up DRIPs is as simple as described though.
Displaying 1 - 29 of 29 reviews