Book Review: "Stop Working: Here's How You Can!"

So I'm a big fan of the major blogs in Canada with regards to personal finance. I like reading people that are going through the same things that I do. Some are older, some are younger, however I definitely think they are worth reading.

I will mention which ones in a later post, however for now, I want to share my thoughts on a book I just finished reading called 'Stop Working: Here's How You Can!' by Derek Foster.

I was very excited to read this book, and as I started to read the book, I got even more excited to finish it. Derek employs a strategy in which he relies on dividends and distributions to live on, without really worrying too much on the over-all price of the stock itself. Truthfully I think this strategy makes a lot of sense. I mean, why spend every day looking at stock prices and market fluctuation, when you could be doing the things you enjoy every day and getting a steady income while doing it? That's the power of dividends.

The book is good. I will be recommending that my girlfriend reads it, as well as other people I know. Derek is now retired, and although the book was written and published (by him btw, so I'm sure there is some extra income for him!) in 2005, the information is very relevant and if someone was looking to invest in todays market.. well, we're quite down over-all as I write this. Perhaps a good time to look at some solid companies with great dividend growth and outlook? This was why I was excited to read it and finish it. Which I did in about 2 days. (I'm not much of a reader, but doing more and more of it)

The writing style is one that I personally enjoyed, he's not much on BS and gets down to business and facts. The only downside I would bring up would be the fact that I found myself readying to page forward in order to find out where he has the money invested, and how much is he drawing in? As I wanted to know would this work for me? Could I live on this? Etc, etc... but that isn't really even a drawback as it makes the book interesting and a little bit 'suspensful'?

Anyhow, I do recommend reading this book, it sort of emphasizes the importance of a steady stream of income in retirement moreso than a nest egg that you sit on. And personally, I agree with that.

If you'd like to pick up a copy, feel free to at http://www.stopworking.ca