Derek Foster 6th book is the direct continuity of his first book, Stop Working.
But this time, 6 years later, Derek Foster is taking a different path. For people who had problem to manage their money, Derek Foster had included financial exercises of the like of those proposed by Gail Vaz-Oxlade, author of many “debt books”, including Debt Free Forever. I would like Derek Foster to skip that boring part to really deliver exclusively at what he does best: stock investment.
If you want my point of view, someone how cannot manage its own money have a long way to go before being able to invest. Derek Foster should leave the manage-your-money-and-debt part to authors like Gail Vaz-Oxlade who don’t really have anything to say when it comes to the real stuff: investment. Because if you are wise enough, you’ll become quickly rich by closely following Derek Foster moves. I may not be rich yet, but I can push the vanity to write that yeah, I, the Dividend Girl, well, I have a net worth of close to 70k. And 70k is quite a lot of money! And don’t forget my 7k in annual dividend income that I should hit by the end of 2011...
If you are intelligent enough, you’ll get Derek stuff pretty quickly and his stuff will blow your mind.
Derek Foster first book had been published in 2005. I only read Derek Foster Stop Working master piece in 2007-2008. Following what, I start investing in stock and my portfolio seriously starts growing. I won’t denied, I had lost money on the stock market. I did day trading, I trade silver like if it was bananas, I over trade... But great news, I still have that close to 70k in net income and I am currently experiencing a capital loss of somewhere of 8 or 9k. For all the risk I took, I find myself extremely lucky to be just behind of 9k or so. But if I would had simply follow Derek Foster advices, I wouldn’t have experience of a capital loss of 9k or something for 2011. Maybe just 7k. I never took time to calculate but I should, of course. Overall, I don’t have any problem to follow the pulse, I accept my mistakes.
I am a serious type of girl but nothing much scared me, and especially not the stock market. In life, I do what I want. Let say that I had paid the price for being an adventurous investor-gambler. BUT – because I am now back in track, because I kept investing every month in blue chips, because I had read Derek Foster latest book The Wealthy Boomer (!) now more than ever, my chances to recover from my mess are actually pretty good. But of course, I need to have the stock market by my side. I will only be able to move on in a good stock market condition. If not, I have all the rest of my life to work on this and recover.
Otherwise, Derek Foster 6th book is not very different of his other books. However, it definitively worth the reading because even I miss-know-it-all learn some great new stuff by reading The Worried Boomer: No Pension? Not wealthy? Here’s your plan! In the past books, if I am not mistaking, Derek Foster had mostly cover stock investment. In The Worried Boomer, Derek Foster covers some other investment products that can help investors to, if not, retire early, well at least earn a few extra pennies and enjoy life while still being on a 9 to 5 lifestyle.
The only thing that is missing is an update of Derek Foster portfolio. THE DEREK FOSTER PORTFOLIO is more than an ordinary portfolio. I build the most part of my fortune on stuff like PPL, ENF just to name those 2. PPL and ENF are Derek Foster stocks. Usually, Derek Foster publishes at the last pages of his book an update on his portfolio. Unless I am mistaking, Derek Foster is not talking of his portfolio in his newest book and that is quite dramatic. Forget about all the blabla on debt and on how to manage money and spending... I don’t care!! What I want is the real deal. What I care about is to know on what Derek Foster is currently holding to in order to generate an income to support his family.
Also, in this new book, you’ll find be please to learn that Derek Foster is the proud father of a baby girl. I remember that picture from the Toronto Star where we had an article about Derek Foster with a nice family picture of him, his wife and their 4 little boys wearing sunglasses. Derek Foster daughter is now 3 years old.
And no, I won’t tell you more about anything related to the content of the book, but you can always buy it here.
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9 comments:
Derek Foster is not retired, he makes money off of his books !!!!
This is the biggest book scam going. He has made some good moves and bad moves with his investments. Don't believe everything he says
Well said. He camps in the Walmart parking lot.
Nice review. I know some of my parent's friends who might benefit from this book. Would probably make for a nice Christmas present for boomers.
What's the matter? No brilliance to share? Lol
The divi ninja has a DF interview & comments, save ur $: http://www.dividendninja.com/derek-foster-interview-1
DF states his BIGGEST ASSET is being frugal (How's that for advice..WOW): (no cell phone & pork & beans for dinner?) He has a portfolio of 20 stocks.But WAIT he says thats only 4- 7% of his portfolio. Then he states he has a NET WORTH of ONE MILLION. Can't be bonds he says he doesn't like them. GIC's? Family inheritance? Real estate? Heck no...its a suspense novel, the butler did it.
Hi Sunny-I can't believe you actually bought his latest book. For one, you are not a Boomer, and second sadly to say Derek Foster is not retired.
The only thing I learned from Derek's first book was to set up a DRIP without paying fees and let the magic of compounding do its' work. I'm afraid Derek is becoming more of an Bob Carick(for the Globe) and an Ellen Roseman(from the Star). These writers write to the naive,about saving $$$$, living under your budget, saving for a rainy day ect. You however, are much more sophisticated then this-and it's because you had the choice to educate yourself. So I was quite surprised when I heard you bought Derek's new book(and now according to you in his new book he's pushing investment products..in his first book, he warned the retail investor not to buy the bank's products rather buy their stocks. What happened to that Derek Foster?
Mark
Me and my bad English, at first, I taught boomer was bummer in the sense lol. I am not a boomer, but I am a bummer or kind of LOL
Raw English 4ever!!!!
But I now understand that boomer mean someone on retirement.
Is that right?
LOL
Anyway, I know I am pretty good on what I do ok (LOLLLLL) but that Derek Foster is kind of good too.
:)
I made a fortune on his stocks like ENF, PPL among other. For just those 2 picks, it worth it for me, all the Derek Foster mania.
There's great stuff in his latest book. I don't agree with Derek Foster all the time and I don't understand him all the time either. But denying him because I don't get him all the time would be a huge mistake. And don't make that mistake.
In his latest book, there's great ideas for RRSP contribution and I am extremely please because I now know in what I will be investing for my RRSP contribution for the year 2011.
He does write about the fact that he earn part of his living by selling his books and giving conference. And that's ok. Who can possibly make a living exclusively from a portfolio anyway?
I only know Susan Brunner, who's another blogger.
Fact is, earning money from investing is terribly hard. I had try as much possible in the beginning of 2011 to boost my dividend income, but I later on discover that in difficult time, it's better to invest in blue chips than focusing on dividend.
I could finish the year 2011 with a 7k in dividend earning. That's great, but it's not enough to cover my living. And I gave to this project all I could.
Also, the only reason why I had been able to survive my margin situation is because I had invest in Derek stocks. That's a reality.
CDL.A had done very well too.
There's a lot to take in consideration when it come to Derek Foster. He's not an easy guy.
great review!
- E
Great Review, I cannot believe some people r bashing Derek and the dividend girl. He just want you to be financially independent.
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