Eating Books

One of the New Years Resolutions that I’ve decided to start early is to read more books. I was never a readaholic in school. In fact, the only time I ever went to the library was when I HAD to go with the class. Even during College and University, the library just wasn’t a place that I gravitated towards. I was always drawn more to the resources available on the web. As a result, I now make all my income from it.

I went out to the local Chapters bookstore to find some good reading material. I also wanted books where I could learn something from. I’m not a fluffy fiction guy, though I did get into reading Harry Potter at one point. I read the first three books on my PDA. Someone had leaked it onto the web and I came across a copy while looking for free apps for my Palm. Anyway, I started thinking of subjects that interested me and personal finance and investing was one of them.

The first book I picked up was “Why We Want You To Be Rich”: A collaboration between Donald Trump and Robert Kiyosaki, the “Rich Dad, Poor Dad” guy. I love the show “The Apprentice” and I had read The Donald’s book “Art of the Deal”. I really got nothing out of “Art of the Deal”. I don’t even remember it.

“Why We Want You To Be Rich” is basically like a long interview as Donald and Robert weigh in on subjects like the world economy, investing, and common questions asked of them like “I’m a Baby Boomer with without much money. What should I do?” It also had a lot of “Edumercials” that sold their education services. After the read, I think I’m going to stick with watching the show “The Apprentice” rather than reading more of Trumps books. I didn’t like the first one, and I didn’t really care too much for what he said. Kiyosaki on the other hand I felt contributed much more to the book. That’s why the next book I picked up was “Rich Dad, Poor Dad”.

This book was very easy to read. It was obviously written for a lower reading level, which made it very light reading for me. This allowed me to get my head around more complex subjects related to personal finances. Things that have been on my mind for quite some time now, and that I’ve avoided because they sounded too complex for me to take control of. Although some of the book’s ideas are a little far fetched, especially in Canada, it did prompt me to look at how I’m managing my money and my real estate a little more closely. I have to admit I’m quite hands off when it comes to my money. That’s why for a while, I’ve relied on the services of a financial planner, and he’s done a good job, but I’d like to do better.

The next book I picked up was Kiyosaki’s third book, “Rich Dad’s Guide to Investing.” This book took the investment ideas in the first book and expanded on them quite a bit. Like the first book, it took a very complex subject and boiled it down to its basics. Some would say that it’s too basic, but we all forget as experts that the things that make us great is our grasp of the basics. After this book, I found myself rethinking and thinking about where my money was, and where it was going, questioning how hard it was working for me. Was it working hard enough? I know that my next meeting with my financial planner will be much more interactive. However, the Rich Dad books are a reflection of things in the US, so it was important to get a Canadian perspective.

The book I’m currently reading is “The Wealthy Barber” by David Chilton, a Canadian authour. Like Kiyoaski and Trump, David Chilton also seems to agree that there is something wrong with a school system that doesn’t teach financial planning at a young age, though he isn’t angry at the system like Kiyosaki. Kiyosaki’s father (Poor Dad) was a school teacher that was screwed by the system. I’m sure much of his disdain for the education system comes from that. So far, I’m a third of the way through David Chilton’s book and I’m really enjoying it.

I’m quite proud of myself. I think I’ve read more in the last two weeks than I have in a single class in University. I started reading all these books on December 3rd, and it looks like I’ll have my fourth book (Wealthy Barber) done in another couple days. All these books are setting me up for my next resolution which is to take control of my finances better. I’m already on my way to being comfortable at my REAL retirement. I just want to figure out a few ways to be more comfortable before retirement by making my money work harder than me.