This book represents the Canadian guide to Simply Successful Investing. It is a must read for all Canadians who are trying to save money, but are having a difficult time to do so. It is time for us to make the big banks work for you, not against you!
You work hard for your money. You sacrifice to save. You risk your money in the market over your working lifetime and you trust your bank to treat you fairly. But your bank strips away half of your lifetime investment returns in fees. Without realizing it, millions of Canadians are in precisely this position.
How does the industry get away with this? The big Canadian banks — and by extension our entire financial industry — occupy a position of paternalistic authority that too many individual investors respect unquestioningly. The industry brilliantly capitalizes on the combination of poor understanding of fees, deep loyalty, and misplaced trust by changing Canadians experience the highest investment fees in the world. There has got to be a better way, and the author shows us that there is in this highly informative and eye-opening book.
Larry Bates is a former senior banker and investment industry insider turned investor advocate, author and speaker. In this book, Bates reveals the secrets, decodes the mystery, and provides a simple, step-by-step guide to investing, proving conclusively that you don’t need to be an expert to invest successfully–you just need to know the basics. It’s easy when you know how!
I found this book very informative and very important. His message is that you must invest well in order to have money saved. What a GREAT message for all of us!