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Stop Working
by Derek Foster | Business & Investing
Registered by brewski of Markham, Ontario Canada on 6/2/2008
Average 7 star rating by BookCrossing Members 

status (set by brewski): permanent collection

1 journaler for this copy...

Journal Entry 1 by brewski from Markham, Ontario Canada on Monday, June 02, 2008

This book has not been rated.

I sure would love to stop working :) 

Journal Entry 2 by brewski from Markham, Ontario Canada on Monday, November 24, 2008

7 out of 10

I always treat books with titles like this one with a healthy bit of skepticism. But I actually found this book to be full of good solid advice, although a fair bit of it is stuff that I have seen in other books before. That may simply be a function of the number of personal finance books that I have read recently, or it could be the fact that becoming financially independent is not really complicated, it just takes dedication.

One thing that slightly irritated me about this book was the number of times the author mentioned that the steps contained in the book allowed him to retire at the age of 34. Okay, maybe I am envious ;), but the fact that Derek Foster is Canada's youngest retiree is prominently displayed on the cover, it doesn't need to be mentioned so many time.

One interesting idea that Derek Foster puts forth I have not seen elsewhere. It is normally conventional wisdom to maximize your RRSP contribution. Foster instead presents a strategy which eschews an RRSP and concentrates on paying off mortgage debt. Then obtaining a secured line of credit on the house and use this line to invest and reap the benefits of tax write offs for investment loan interest, preferential treatment of dividend income, etc. This is definitely an interesting approach that I will have to take a closer look at. 

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