tag:blogger.com,1999:blog-5381728860768227475.post2920566720836759409..comments2009-03-08T00:38:12.239-05:00MG (moneygardener)http://www.blogger.com/profile/09118524634677340463themoneygardener@gmail.comBlogger7125tag:blogger.com,1999:blog-5381728860768227475.post-32204908831344682032009-03-08T00:38:00.000-05:002009-03-08T00:38:00.000-05:00The Wealthy Barber uses mutual funds as his key investment vehicle.<BR/><BR/>One issue of mutual funds is they charge high fees while guaranteeing you nothing. Now that ETFs exist, there's no real reason to use mutual funds anymore.<BR/><BR/>(unless you really, really trust the fund manager)<BR/><BR/>Second issue of mutual funds is that they must stay true to their prospectus. So even if they think the market is going to tank, they generally have to stay in long positinos because that's what the prospectus forces them to do.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5381728860768227475.post-49171992474868466322009-02-21T15:18:00.000-05:002009-02-21T15:18:00.000-05:00Not a big fan of the wealthy barber book or the retire early author. <BR/><BR/>The one thing that jolted me into starting an RRSP was a post on the subway some 20 years ago, illustrating putting away $25 a month at age 20 and then starting to put away a considerably higher amount a month at age 35. Was on the phone to buying a mutual fund that night.Andrewhttp://www.blogger.com/profile/05216687888053227539noreply@blogger.comtag:blogger.com,1999:blog-5381728860768227475.post-64949629645167982442009-02-12T12:41:00.000-05:002009-02-12T12:41:00.000-05:00Investing for retirement before the age of 20 has got to be unheard of...well done.<BR/><BR/>Thanks Grant.MG (moneygardener)http://www.blogger.com/profile/09118524634677340463noreply@blogger.comtag:blogger.com,1999:blog-5381728860768227475.post-23485775126448401472009-02-12T10:38:00.000-05:002009-02-12T10:38:00.000-05:00It is nice to tell them about living within your means, saving, and investing but let's not forget about earning money.<BR/><BR/>If you want a certain lifestyle make sure you select a path that gives you a chance to achieve it.<BR/><BR/>CSCCanadian Small Caphttp://www.blogger.com/profile/01846974181935017683noreply@blogger.comtag:blogger.com,1999:blog-5381728860768227475.post-36044886787734045582009-02-12T10:16:00.000-05:002009-02-12T10:16:00.000-05:00Thanks for your thoughts! <BR/><BR/>I completely agree that the transition years of going from high school into college and the real world is critically important for someone's finances.<BR/><BR/>In my work with high school and college students, I continually stress this point. And as you said, I also remind them that they are young so they have a huge advantage over their parents. It's called "Compound Interest"! <BR/><BR/>Thanks for your input and your 2 cents.Grant Baldwinhttp://www.grantbaldwin.com/blognoreply@blogger.comtag:blogger.com,1999:blog-5381728860768227475.post-2211848739250382372009-02-12T08:56:00.000-05:002009-02-12T08:56:00.000-05:00I read a few books when I was in highschool one of them was the wealthy barber. I started an RRSP at 16 when I started working. <BR/><BR/>I don't think any books would have made a difference to what came next.. getting in debt for university. <BR/><BR/>I think I really needed to hit rock bottom, despite knowing about PF, before I started to practice it.zeromoneyhttp://zeromoneytoheromoney.comnoreply@blogger.comtag:blogger.com,1999:blog-5381728860768227475.post-81424525539604015312009-02-12T08:08:00.000-05:002009-02-12T08:08:00.000-05:00Braiden Harvey says " Yes you are right. IF you get your financial life on the right path you will be a winner."<BR/><BR/>Braiden HarveyBraiden The Travelerhttp://www.blogger.com/profile/12910739660576700207noreply@blogger.com