I wince reading the cynicism some commenters exhibit when discussing matrimony and common law relationships. I cringe reading confessions of over-spending and bad credit. I check the posts on the RedFlagDeals personal finance discussion website as a hobby. Why I Keep an Eye on the RedFlagDeals Personal Finance Forum He’s an every day person with a modest-income job who manages to save his way to a nice retirement lifestyle. The Wealthy Barber himself is a fictional character. And to the cloud called the internet, in e-book form. He or his publisher coined the name “The Wealthy Barber Returns.” I guess he’s returned to the book shelves at your local library. So the author of The Wealthy Barber decided to write an updated book. And you can find ETFs that hold a very diverse number of stocks, for example a fund that mimics the S&P TSX-Composite Index, or similar indices in New York or in stock exchanges around the world. You can find ETFs which have extremely low fees, such as some of the Vanguard and Blackrock funds. In your account, you can buy units of Exchange Traded Funds, ETFs, where you can see exactly what price you will be paying because the sale takes place immediately, not at the close of the day. If you have $10 000 to $15 000 you can open a discount online brokerage account with no annual fees or charges. Now the financial landscape has changed significantly. I liked the diversity idea, and bought some units in a relatively low-fee mutual fund that mimicked the Toronto Stock exchange from a Big Canadian bank which was a reasonably good choice in those days.
In the book, the author pointed out that saving first, automatically so you wouldn’t really notice the money getting taken, into a very diverse number of stocks could help you become modestly rich by retirement. It was written before discount brokerage accounts were easily available, before the internet was widely used and before ETFs existed. Way back when it was fairly new, I read a library book called The Wealthy Barber. Who Is The Wealthy Barber and From Where Is He Returning? I recently downloaded a free copy of The Wealthy Barber Returns from the Tangerine website-you may want to also before December 31, 2016.
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