As a lead Dragon of CBC's Dragons' Den and ABC's Shark Tank, Kevin's success with money management and in business is legendary. But he's made mistakes along the way, too, and he's writing this book so others - like his son and daughter - can benefit from his experiences. Each chapter is geared to a specific age or stage in life. You'll find real-life examples of common money mistakes (and strategies for avoiding them), "Cold Hard Truth" quizzes and charts aimed at boosting your Wallet Wisdom, and tips and tricks for making more money and growing it faster to achieve financial freedom.
I work in the retirement planning industry plus I'm a fan of Dragons' Den and Shark Tank ... so I thought it would be interesting to get O'Leary's thoughts on financial planning. I conduct one-on-ones in addition to seminars and it's amazing the amount of people I talk with who don't have a clue how they should be planning for their retirement or assume that though they have very little savings, they will be able to retirement early and live well. This book would be a big help to them.
The chapters include:
- Spend less, save well, invest often - money lessons he learned from his mother; figuring out your 90-day number; save your money, save your life; invest right, invest now; debt-free first
- Youth and money learning & earning, dating & mating - Kids and cash; the high cost of higher eduction; boomers and boomerangs: when generations financially collide; young love and money
- Marriage, mortgage and children - marriage and money; house poor, house rich; cash in the cradle; avoiding money pits
- Midlife money matters & your financial legacy - midlife and money karma divorce, remarriage and gold diggers; debt, divesting and downsizing
Throughout the book, there are quizzes and tips (like ten ways for getting your adult kid out of your basement and five ways to minimize baby-spending madness).
I enjoyed this book and thought the author did an excellent job covering the different stages in life to make the reader more aware of the importance of saving early and investing appropriately, having the money conversation with someone when you start dating, renting versus buying a house, buying a new car versus leasing one, ensuring you have enough for your retirement before you start helping others financially, etc.
I liked the writing style and thought it flowed well. Since I watched the author on Dragons' Den and Shark Tank, I would hear "Uncle Kevin's" voice in his writing ... at times it was funny and sarcastic yet intolerant. There were a few pictures throughout the book of him and his family throughout the years.
I'd recommend this book. It is informative yet entertaining.