pay it off with your heloc each month. then owe a ton on that instead. 💫

How do most of you guys still make profit, even with the downturn of the economy and ever increasing life standards

bro

I want one too!

You are my (financial) hero (are there any other heroes, really?)! Been a fan since I was introduced to your book by my dad when I was in high school (soon after first published). I am now much, much, MUCH older and have followed your advice and enjoyed what we have now. Would love a hat to wear proudly! :)

Dave, would love one of your hats. Been following since I read Wealthy Barber in my teens (way too many years ago).

What happens when a saver and a spend thrift join together? Divorce.

🎉

Should of wore that hat when on Murdoch Mysteries.

I'd love a hat, I've followed you ever since your first Wealthy Barber publication... a few decades ago 😊

Sounds cool! I already own 2 Wealthy Barber books, and had to repurchase the first one again because I think it got lent out and didn't come back....

Love to win a free "Wealthy Barber" hat

Dibs!

1:22 - 1:35 I love how you are simply quoting your own book, the wealthy barber returns, there really is no need to say anything new.

Well said. People are taking nothing with them when they pass. Plus look at anything you bought 5 years ago. What percentage brings you joy? Less IS more.

Spenders get their reward for their stupidity. the world has put good barriers to set apart intelligent people from stupid people so the fit survive and the not fit parish. that's life get used to it. my experience told me you cannot change the spenders habits. even if they understand they still cannot change, its fruitless. they are too stupid to learn and change. On the other hands smart people do change from learning if they are convinced it is for their own good.

Love your book! Although I am only 16, your book has given me so much important information and hope, thank you.

Wow. Love these videos

Great advice. But one quick question. You stated in your book "The Wealthy Barber" that your barbers name was Roy. Now you are telling us it is Bernie. How do we know what to believe???? Lol 😁

Excellent!

Wow. Very well said!

Well said. As always one needs to be as prepared as possible and flexible. What is the argument for people being too prepared and presenting it all to the government in terms of LTC? My parents who lived to 92 stayed in their apartment and made life easier by having their meals prepared at a nearby nursing home where they went and had social interaction as well...just make sure to distribute a majority of your assets before going into LTC

What the people promoting excesive tenent rights don't seem to be able to comprehend is that rents need to be higher to cover the risk or landlords will not build new units. This is directly contributing to both lack of availability and higher rents.

Good advice…. It works. I have lived by that strategy the past 20 years.

Are things expensive or do “payments”/various debt servicing costs make lesser priorities expensive?

Like oil prices, housing prices cannot continue at these high levels as they are unaffordable to a soon to be majority. If oil prices go high, they eventually must come down or the economy stalls. Housing will have to do the same. When? How? Who knows. Thank you for the concise informative content as always.

Well said as usual.. keep up the great content to help people.

wonderful.

Thx for your common sense approach to money....

I called this from day one

Less is more and truth is truth.

Why are you doing videos now? Just curious.

A good name change is a great idea: Tax Free Investing Account (TFIA). Great call Dave.

But wait... why does DY stand for disposable income? Shouldn't it be DI?

what do you drive

Like it, but it went a little too fast for me...

That smirk at the end.

As a parent, I can get behind this idea....

Chinese households have a savings rate of 40-45%. Pretty impressive when compared to North America and approximately 60% of the population that can’t afford an unexpected $1000 expense.

My Dad gave me your book as a teenager and I read it! I knew that no matter what I'd be able to retire at 65 with $1 million and always worked to make that happen in my RRSP as a "worst-case-scenario", even though I went to university for a long time and in a field that is not seen to be a high income earner, as a classical musician. Now, is $1 million going to have me sailing on a yacht when I'm 65? Well no, but I will have far more than that because I started young and while I have a defined benefit pension from my job (aka very little honestly), I know that I'll still be fine because I STARTED young and followed your advice!!! If I had paid off my mortgage, there's no way it could've made up for the gains I've had by investing AND learning how to save money AND invest it (the key!!!) over the years. Pretty cool to find you on KZfaq 30 years later. And yes, the little things do add up, but also be mindful of the big purchases too that many spend 2 seconds thinking about only to be locked into a $1200 payment for a vehicle, then they HAVE to skimp on the little things and feel like there's nothing left.

😂 it's free advertising real estate.

And since this is Canada, you won’t be held accountable.

This is a hilarious story! I want you to know, Dave, that I read the original Wealthy Barber book in my 20s and I believe it changed the trajectory of my life. Until then, I had no idea about mutual funds or investing in the stock market. Your book made everything seem so straightforward and low-risk. I started investing in mutual funds then. Decades later, I am so glad I read your book and took action! I probably owe a great deal of my financial stability to that book.

Ok what is not to like?? Your videos always make me chuckle and they are so accurate. Great advice for anyone of any age

Dave these videos are awesome. Keep them coming!

So glad you're posting here, Dave! Might I suggest keeping the captions off your edit. KZfaq automatically creates captions that can be turned on. Might save you some time also. Cheers!

Tracking my expenses has been eye-opening. Just knowing what I spend on each month helped me be more conscious of what I can and should cut back on

Well said. I like the advice of Ramit Sethi (paraphrased): Spend lavishly on things that bring you joy and cut mercilessly on things that don't.

I teach family and friends to invest in an index fund. They understand it but as soon as there is volatility in the markets and their account goes down in value, they sell and sit on the sidelines and the market goes back up and they buy back in at a higher price then they sold. A lot of them do this. They don't have the stomach for investing.

My rules are automate saving AND dollar avaergae without any BS fees. Vangard had great options.