The Wealthy Barber Returns (Again): A Canadian Classic Reborn for 2025
In April, in Sarnia, the story begins the same way it did back in 1989. But instead of Dave (and wife Sue), his sister Cathy, and his friend Tom sitting in Roy Miller’s barbershop, we meet Matt (and wife Maddie), his sister Jess, and his buddy Kyle.
Roy’s still cutting hair, still wise as ever – and this time he’s joined by regulars Jimmy and Clyde, plus a new face: Sourov, a 22-year-old newcomer to Canada renting an apartment from Roy and eager to get ahead and live the Canadian dream.
That’s the setup for David Chilton’s fully rewritten The Wealthy Barber – a modern retelling of the all-time Canadian personal-finance classic that taught millions of Canadians the importance of “paying yourself first.” And I’ll say it up front: this new version absolutely delivers.
A Familiar Story, Updated for Today
Chilton keeps the same small-town warmth and conversational tone that made the original Wealthy Barber so approachable. But this isn’t just a nostalgia project – it’s a thoughtful rewrite for a new generation.
The references have been updated – goodbye VCRs and clickers, hello TikTok and ChatGPT – and the advice reflects the modern investing landscape.
Roy no longer suggests researching top fund managers or chasing 10-15% mutual-fund returns. Instead, he champions evidence-based investing through low-cost index funds – or, as he puts it, “buy things that own things.”
He reminds readers that “for 99% of people, knowledge hurts their stock-market returns,” and calls out “the wealth-destroying tyranny of fees.” It’s music to the ears of anyone who believes, as I do, that simplicity, low costs, and discipline win the long game.
Practical, Actionable Lessons
Chapter 6 (“You Have Some Questions”) stands out for its clear breakdown of account types – RRSP, TFSA, and more – and when to prioritize each. I loved Roy’s sensible take on employer-matching plans: get the free match, then move on if your group plan doesn’t offer index funds.
And while the TFSA gets plenty of modern buzz, Roy makes a strong case for the under-appreciated RRSP. You get a deduction at your highest marginal tax rate and often withdraw later at a lower blended rate – a point too many investors overlook.
On Real Estate and Homeownership
Chapter 7 (“Quick Hits and Strong Opinions”) tackles real estate with welcome honesty. Roy lays out why rental property investing often doesn’t make sense today. The math, the maintenance, and the headaches just don’t add up.
I agree, and if your parents insist real estate is the best investment, ask if that advice comes with a time machine to buy houses 25 years ago.
On home ownership, he’s sympathetic to first-time buyers facing impossible prices but pragmatic about timing: buy when you’re financially ready – when you’re not “cash-strated” by ownership costs. Don’t obsess over hitting 20% down, he says; well-qualified borrowers under that threshold pay CMHC insurance but often get better mortgage rates.
He also highlights the FHSA and Home Buyers’ Plan combo as a powerful tool for young Canadians and smartly advises against rushing to repay the HBP – there’s no deduction for repayments, so take the full 15 years.
Budgeting, Cars, and “Small Leaks”
Roy spends more time on budgeting this time around. The old “save 10% and spend the rest” still works for many, but he warns that small leaks sink great ships. A simple spending summary can reveal those leaks before they become whirlpools.
And one of my favourite updated sections: “Cars are savings killers.” Enough said.
Insurance, Wills, and Real-World Responsibility
In Chapter 10, Roy revisits insurance, wills, and executorships with more depth than before. He stresses how much work an executor actually does – and that corporate executors, while they charge a fee, can be worth it.
There’s also a stronger focus on disability insurance – something too many people overlook. As Roy notes, your odds of becoming disabled (even temporarily) are far greater than dying early. And in a fun meta twist, he adds: “Don’t laugh, but ChatGPT is pretty good at analyzing policies now, too.”
Final Thoughts
I loved the updated version of The Wealthy Barber. It keeps the warmth, humour, and story-driven simplicity that made the original a classic – but updates the advice for 2025 and beyond. This is the kind of book you’ll want to buy for yourself, your kids, your grandkids, or anyone just starting to think seriously about money.
The Wealthy Barber: The Fully Updated All-Time Canadian Classic is available today – exclusively at Indigo and independent bookstores across Canada (not Amazon, Walmart, or the big U.S. retailers). Chilton’s team made a deliberate choice to keep the entire project Canadian – editors, designers, printers, and partners – and that feels fitting for a story that’s always been about helping Canadians build a better financial future.
Why You Should Read It
- It’s a reminder that the fundamentals of financial success never change, but how we talk about them should.
- It updates timeless wisdom for the index-fund, high-housing-cost, TikTok-attention-span generation.
- And, frankly, it’s a joy to read – just as it was in 1989.
Readers, leave a comment below and tell us when you read the original The Wealthy Barber and how it made an impact on your life and I’ll enter you to win a free copy of the new and fully updated The Wealthy Barber. I’ll keep the contest open until Friday November 7th at 5:00pm EST and announce the winner in the next edition of Weekend Reading.
I have never read the original but do follow him on Instagram. Would love a chance to read the updated version
I’ve read the original story with Roy Miller as well as the wealthy barber returns. Both excellent books and among the most impactful on my life of any I’ve ever read. Recently finished re-reading the original to have a better sense of the differences. Looking forward to reading the updated version of the 1989 classic.
My Mum, newly divorced at the time, gave me a copy of the original when I was in my mid twenties. It came with her advice- “as a woman, always have your own money”. I read the book and followed both my mother’s and The Barber’s advice. I’ve read many other personal finance books but this is the one that had the most profound effect on me. I look forward to reading the updated version and passing it along to my granddaughters with the same advice my Mum gave me.
We credit reading the Wealthy Barber in our 20’s for our comfortable retirement now. Running to Indigo right now to purchase the new edition for our son and his girlfriend.
So excited to get a copy! The wealthy barber is a classic and respected by so many. I’m also a huge fan of his podcast and the valuable content and voices he speaks to about all sorts of Canadian specific topics related to finances. Thanks for your rundown!
Read the original in the mid 90’s. Was actively investing in residential real estate at the time and diversified into stocks as a result. Stayed clear of high fee mutual funds and have managed to grow networth to +10 million through a combination of real estate escalation, stock market appreciation and entrepreneurship.
I started with version 1 then bought version 2 for my kids and I’ll get them the latest (Christmas shopping done).
It’s so refreshing to see it available only at Canadian sellers. It’s a pet peeve of mine when friends choose Amazon instead of Indigo to order books.
I’ve never read the original, but this article has convinced me to read the new version!
I never read the original and have been eagerly awaiting this one after hearing Dave talk about it on his podcast.
I read the original in my 20’s and enjoyed it. Really reinforced my saving habits. Definitely a must read!
I bought the first book when I started working in the early 90’s. 30 years later I credit that book for the fun we had as a family and the good setup for retirement. This new book will definitely be in our kids stockings!
Brian and I would appreciate a copy! Brian reads everything and we have a copy on our bookshelf! Please enter us!
Yes I sure remember reading it way back when. The only chapter back then I didn’t like was on insurance as I’m not big on insurance. You bet you’re going to die and the insurance companies bet you’ll live. Never even had mortgage insurance. So I’m almost 70 so I guess I win as I saved all that money. Almost ready to take my CPP/OAS when I turn 70 as pay yourself first always stuck with me. I’ve done very well in life with money and saving and I credit the book for a good part of that success. Living the Dream and Built for Retirement……Brian
Simply put – the most important book I have ever read to start me on the path to provide for my family and continue to teach the lessons down the line.
The new version of The Wealthy Barber will be in the stockings of all three of my “almost launched” kids , to help ensure they learn all of the lesson first hand for their lives.
Very excited to see this re-write!
I was given the Wealthy Barber book in my mid-twenties by my financial advisor, and it changed how I managed our finances immediately. As a result, we were able to retire early by age 55. The book was life-changing for me.
I read the wealthy barber returns and loved how clear and simple all the topics were brought. It was also very funny!
I read the original about 20 years ago but very much looking forward to reading this one.
I read his book in the 90’s. It’s a great gift for anyone intimidated by investing.
I read the first Wealth Barber in the early 2000s and found it enlightening.
Completely made it my guide for retirement and saving– with really no money to spare. It worked, and changed my mindset. Thanks for another great post, Rob.
I listened to the Wealthy Barber Returns on audiobook last year while doing my spring cleaning gardening. That led me to be a follower of Dave Chilton. So appreciative of his style which brings a little humour and a lot of humanity and practicality to Canadian finance. I recently retired and can’t wait to get this new edition to share with my 25 year old daughter who just graduated and is launching her own financial life.
I read the original when it first came out and gave it to all my kids to read. I will be getting them all a new copy, and would love one for myself!
Read the book in the 90’s. Took the save 10% to heart and things have worked out alright. Been enjoying to Dave’s podcast and have been anxiously waiting for the new book to come out. Appreciate the all Canadian aspect of it.
I read the the first book of The Wealthy Barber it stands the test of time.
Another classic is Rich Man Poor Man.
But you are talking to the the converted. I followed there advice and use this saying when i sign my emails.
John Malo
“save diligently, invest wisely, live prudently, give generously, retire happily.”
I read the Wealthy Barber in 1989. It was a game changer for me as I was in my late twenties; eager to begin seriously saving and investing after the purchase of our first home.
I have always been interested in personal finance. Within a couple of years after reading David Chilton’s excellent book, I made the decision the alter my career and become a personal financial planner (CFP).
It has been the best decision of my career and it really defines who I am today! So much of what is written in the Wealthy Barber still resonates with me as I never forgot where I was initially inspired. I look forward to purchasing the 2025 version as gifts for my sons. They will definitely appreciate reading The Wealthy Barber.
I read “The Wealthy Barber Returns” and found it to be a thoughtful, well written and thoroughly informed book that had only the investor’s best interests at heart. It provided a superior outline for any non-financial person to follow that would ensure their own personal financial success and peace of mind. I’ll look forward to reading Chilton’s updated version.
I read the book in my late teens and it set me up well for the next 20 years….and hopefully beyond.
I came to Canada in 2020, and whenever I researched or explored Canadian personal finance, this book often came up or was mentioned frequently in blogs and videos. I would love to read this as well. I was about to order the book, but I thought I would try my luck here first.
I read the original Wealthy Barber when it first came out and it changed how we saved money. Up until then, I would save whatever money was left at the end of the month. We did live frugally, but I had never though about saving money first and then spending the remainder. It amazed me how much more we could save using that method! Pay yourself first.
The original Wealthy Barber is the most impactful finance book I have ever read. I read it in my late teens. It energized me to save for the future and to continue learning about finances. I will be giving my niece and nephew each a copy to start them off on the right foot.
I read the Wealthy Barber a few years ago, it was already too outdated to my liking… but I am sure this new version will address exactly that!
I first read the Wealthy Barber in high school (early 2000’s). My dad gave me a copy and at that time it felt a little outdated for my generation but the principles held true and I enjoyed the concepts of paying yourself first as I worked part-time throughout high school and university. I feel like it set some solid foundations for where I am today.
Would love a chance to read this updated classic. I never read the original copy, so it would be nice to get the latest version updated for today’s challenges.
The original was the first finance book I had ever read, and some of the lessons, like “pay yourself first” stuck with me forever. His writing style helped a younger me understand and build interest in managing my personal finances well. I read it multiple times and always recommended it to family and friends. I purchased the 2nd book as well, and I look forward to reading the revised version. Life has changed a lot, but some lessons are timeless.
I read The Wealthy Barber when it came out in 1995, Today I am debt free and financially stable. I was going to give copies of the original to my Nephews but will be giving the new updated version.
I have never read the original book but I follow David Chilton on Instagram and TikTok. I enjoy his content and have learned a ton about personal finance just from a few videos. I would love to read the updated version of this book!
I read the original back in the early 90’s, and was inspired enough to hear him speak around the same time. It started me on my financial education journey. It was, and probably still is, the single most influential book on money i have ever read. Great to have an updated version to share with my kids and grandkids!
Dave Chilton’s first book helped me to understand the process to financial independence even for an ordinary working stiff like me. Pay yourself first is the foundation of prosperity.
Read it in the late 90s and it formed the basics for my financial wellness moving forward.
I first read the original Wealthy Barber when I was 25 years old. This is the first personal finance book that I have ever read. I was really attracted by the stories and the financial knowledge behind it. I understand that the original book was written a while back. Thus there are a lot of references about mutual funds etc. I really look forward to this update to have more modern concepts such as all-in-one ETFs etc.