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The Idiot Millionaire by Derek Foster – Review and Giveaway

idiotmillionaireDerek Foster is back again with his fifth book – The Idiot Millionaire (link).  This book follows a common theme about investing,with the focus on “idiot proof” stocks rather than exclusively dividend achiever type stocks.  To Mr. Foster, idiot proof stocks are those that have global brand recognition and have a distinct competitive advantage.

For those of you who follow Derek Foster, you may know of the most recent “controversy” surrounding him where he sold all of his long term positions just before the market bottom in 2009.  As he’s been asked about this many times over the past couple years, he dedicated a section in the book to explain what happened, and what he did after he sold.  It turns out that he didn’t make out so bad (more on this in the next post).

Who is Derek Foster?

Derek Foster is known as Canada’s Youngest Retiree when he retired at the young age of 34. How did he do this? Through starting young and sticking with his investment plan of buying strong dividend paying stocks. He feels very strongly about his strategy and rightly so as he has achieved great success. His first book Stop Working: Here’s How You Can is a Canadian Best Seller.

Foster currently lives off and supports his family through dividend distributions, book sales, and a rental property (sold). Note that he retired before publishing his first book. You can read more about him in my book review of Stop Working: Here’s How You Can.

About the Book

As previously mentioned, this book focuses on stocks that have a long term competitive advantage by pointing out and explaining the authors favorite stocks in each sector.  The chapter outline includes:

  1. Why you should invest in idiot proof stocks
  2. Bank Stocks and other Financial Companies
  3. Pipeline Stocks
  4. Tobacco Stocks
  5. Food and Drink Stocks
  6. Consumer Stocks
  7. Hygiene Stocks
  8. Oil Stocks
  9. Entertainment Stocks
  10. Transportation Stocks
  11. Business to Business Stocks
  12. Education Stocks
  13. Buying Bargain Stocks
  14. Where to Look for Idiot Proof Stocks
  15. Taxes and an update on the authors portfolio

While this book did give me some ideas on stocks to add to my watch list, Derek’s first book is still my favorite.  Perhaps it’s because I’m a little more experienced now with investing and that I’ve read about a lot of the same concepts before.  I would say this book is geared for someone just starting out in their investing journey and looking for ideas on which companies to look into.

Want a Free Copy?

The author is offering Million Dollar Journey readers the chance to win a free copy of the book.  The details are below:

  1. New and Existing Money Tips Newsletter Subscribers will be drawn at random for a free book (you can subscribe here). (+1 entry)
  2. Leave a comment in this post by clicking here. (+1 entry)
  • Only one comment entry per person (valid email addresses only please – privacy policy).
  • Contest will end Sat 5pm EST Jan 29, 2011 and the winner, drawn randomly, will be contacted shortly after!
If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).

FT About the author: FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.

{ 262 comments… add one }
  • Avatar Jaymus (RealizedReturns) January 24, 2011, 9:07 am

    Here’s my comment to enter.

    p.s. Authoring all of these books, it is becoming more evident that Derek has a different definition of “retirement” than most people.

  • Avatar PaigeSix January 24, 2011, 9:18 am

    I’m excited to see what this book is all about! Let’s hope this comment allows me to win!

  • Avatar Michael January 24, 2011, 9:41 am

    Sounds interesting. Would definitely like to read it.

  • Avatar Alexander January 24, 2011, 9:56 am

    I would like to spread your idea and the message of the new book in Europe, especially in Germany.

    I’m happy to read this book.


  • Avatar Darren January 24, 2011, 10:22 am

    Wouldn’t mind reading this!

  • Avatar Uncle El January 24, 2011, 10:26 am

    HAve a list of dividend stocks I want to invest in, but could use some more ideas.

  • Avatar Susan January 24, 2011, 10:27 am

    I have always recommended derek’s first book to my 20 something clients. Not so much because of any specific strategies but more to show them it can be done. Too many books focus on 40 something age group and the younger crowd can’t relate.

  • Avatar Oli January 24, 2011, 10:33 am

    Would definitely be interested in giving this book a stab!

  • Avatar Ken January 24, 2011, 10:51 am

    I’d love to retire that early

  • Avatar cbez January 24, 2011, 10:55 am

    Looks like an interesting read!

  • Avatar RI January 24, 2011, 11:19 am

    Good luck on the Giveaway for everyone.

  • Avatar Jamie January 24, 2011, 11:27 am

    Retiring at 34? Sounds like a dream! I wonder what he does to keep busy!

  • Avatar netParticles January 24, 2011, 11:40 am

    I’m looking forward in reading this, thank you for the review!

  • Avatar Imad January 24, 2011, 11:59 am

    I would love reading this book so I could retire at 34 too!!!

  • Avatar Ahmed January 24, 2011, 12:20 pm

    I hope I win!

    Opps. my comment was too short. Re-posting.

  • Avatar Andrew January 24, 2011, 12:25 pm

    I think it’s too late for me to hit 34 but I’d certainly be happy with 43! :)

  • Avatar Aaron January 24, 2011, 12:26 pm

    Ugh. Pick me, I guess. :-P

  • Avatar Mike January 24, 2011, 12:35 pm

    I recently “retired” at 36. It would be nice to compare notes.

  • Avatar Daryl January 24, 2011, 12:36 pm

    Sounds like a neat book

  • Avatar Andrea January 24, 2011, 12:37 pm

    Sounds like an interesting book

  • Avatar Joel January 24, 2011, 12:37 pm

    I read his Stop Working book… and would be interested in this one.

  • Avatar Nick Somers January 24, 2011, 12:40 pm

    Sounds like a good read for me. I am 23 and just getting rolling in the investing world. It seems that he has a similar investing strategy to me but much more experienced and knowledgeable.

  • Avatar Jeevan Trehan January 24, 2011, 12:44 pm

    Will be definitely interested to read as I feel that I fall into the category of getting to understand investments..

  • Avatar James January 24, 2011, 12:47 pm

    I read his other books. Mostly good reads. Must be read with some skepticism but all have some good ideas that can definitely get you in the right direction/frame of mind for investing.

  • Avatar marcin January 24, 2011, 12:47 pm

    This would be a great start for me….appreciate what you do

  • Avatar Jonathan Simon January 24, 2011, 12:47 pm

    Sounds like a great book!

  • Avatar Barry January 24, 2011, 12:49 pm

    that means I’ve only fot 4 years left to become the new yongest retiree.

  • Avatar Ryan J. January 24, 2011, 12:49 pm

    Having a variety of different investments, I think it is time I start to look at dividend producing stocks for the long term.

  • Avatar Kelly Harps January 24, 2011, 12:51 pm

    Sounds like the booke for me!

  • Avatar Senk January 24, 2011, 12:51 pm

    Looks interesting.

  • Avatar Sandy Shaw January 24, 2011, 1:06 pm

    i secretly feel like an idiot invester…would be great to see if i can retire by 64 not 34!

  • Avatar Wayne January 24, 2011, 1:07 pm

    Should be an interesting books. Have read all of his others.

  • Avatar Digger January 24, 2011, 1:07 pm

    Read his other books. Would be interested in reading this one as well.

  • Avatar reader January 24, 2011, 1:08 pm

    I had a chance to read his first book and loved it. I am pretty sure that this book is even better than one before.

    Hurray Derek , Hurray Wasaga beach, Love to do cross country ski right there

  • Avatar Michelle January 24, 2011, 1:10 pm

    Interesting list of stocks, we have some but need to diversify a bit more so its a good starting point.

  • Avatar J. January 24, 2011, 1:15 pm

    Should be interesting

  • Avatar Darryl January 24, 2011, 1:15 pm

    Interesting book, sign me up

  • Avatar Derek Foster January 24, 2011, 1:17 pm


    Just two minor points…I had a rental property a few years ago, but don’t (so there is no rental income). Also, this is my fifth book, not fourth.

    Derek Foster (author)

  • Avatar Scott January 24, 2011, 1:18 pm

    Love to read about different investment strategies and ideas. Would be a great read for the new year.

  • Avatar Matt January 24, 2011, 1:20 pm

    Enjoyed his first, curious to see what he has to say in this one.

  • Avatar Bernie B January 24, 2011, 1:21 pm

    I think giveaways like this are a great way to promote your site. Kudos.

  • Avatar Rick January 24, 2011, 1:22 pm

    I would like to read Derek’s latest book . Knowledge is Key !

  • Avatar Colleen January 24, 2011, 1:23 pm

    It’s my birthday today and winning this book would be a nice present! I’m very interested in investing but still have a lot to learn.

  • Avatar Sandra January 24, 2011, 1:25 pm

    It would be great to win this book and read about Derek’s ideas on where to invest.

  • Avatar John January 24, 2011, 1:26 pm

    I’m new to investing. This sounds like just the ticket to get me rolling!

  • Avatar ASH 37 January 24, 2011, 1:26 pm

    Enjoyed his first, curious to see what he has to say in this one.

  • Avatar Peter January 24, 2011, 1:30 pm

    count me in for the giveaway

  • Avatar Saver January 24, 2011, 1:34 pm

    Looking forward to another great read by Derek. His books are very simple and easy to read, great for me!!

  • Avatar gail January 24, 2011, 1:35 pm

    Glad you reviewed this! I just read it myself (from the library… I do read this blog, and am working towards increasing my net worth). It’s a great book, but it had a number of spelling and grammatical errors; just saying. I have read all of Derek’s books.

  • Avatar TJ January 24, 2011, 1:38 pm

    Sounds interesting; I’d love to read it.
    FYI, your link to Foster’s first book “Stop Working…” is not functioning properly.

  • Avatar DoNotWait January 24, 2011, 1:43 pm

    I can’t wait to read your post on how he turned out after selling everything.

  • Avatar JB January 24, 2011, 1:43 pm

    I like Derek’s first book. This one is on my list…

  • Avatar Shelly January 24, 2011, 1:44 pm

    How fantastic that Derek is willing to share his process.
    Can’t wait to read this new book + gain a wealth of information that could get me outta here sooner rather than later.

  • Avatar SteveF January 24, 2011, 1:47 pm

    @Jaymus – agreed – when I retire you will never hear from me again…

  • Avatar Katie January 24, 2011, 1:48 pm

    Sounds like an interesting read.

  • Avatar Chris January 24, 2011, 1:56 pm

    Free book! Woo!

  • Avatar Dexter January 24, 2011, 2:00 pm

    I’d love to give this a read

  • Avatar Will January 24, 2011, 2:03 pm

    I’m several years behind on retiring by 34. Better late than never! I could really use this book.

  • Avatar Boris January 24, 2011, 2:04 pm

    I love free stuff. I can’t get his book from the library

  • Avatar Alain Chiasson January 24, 2011, 2:05 pm

    Will be looking forward to reading both books.

  • Avatar Paresh January 24, 2011, 2:11 pm

    I read Derek’s first book and would love to get a free copy to read! I am curious to know the stats about how many people are able to implement the advice received from this kind of books and achieve their goal of retiring by say 45?. Looking at the demographics of working and retired people around me it seems not that many!!

  • Avatar Mark January 24, 2011, 2:17 pm

    Hook me up, yo.

  • Avatar Peter January 24, 2011, 2:21 pm

    In for what sounds like a decent read!

  • Avatar ScottTO January 24, 2011, 2:26 pm

    I’m in. I would love to see what he has to say. Very curious what he has to say about he big sell off.

  • Avatar c. layne January 24, 2011, 2:26 pm

    I’ve been told I’m an idiot…therefore i’m halfway there! I just need this book!

  • Avatar Matt January 24, 2011, 2:32 pm

    Sounds interesting! Looking forward to reading it.

  • Avatar Terri January 24, 2011, 2:35 pm

    I have enjoyed all four previous reads, and would love to read the follow up.

  • Avatar Zdad January 24, 2011, 2:37 pm

    Looking forward to reading this book. Read most of the others and have put many ideas into practice! I’m a big fan.

  • Avatar Steve Zussino January 24, 2011, 2:48 pm

    I would like to read this book to get advice for some future dividend stock purchases.

  • Avatar Caroline January 24, 2011, 3:00 pm

    Thanks for your book reviews! I read David Foster’s first book and found it really opened my eyes. I would love to get my hands on a (free) copy of this book.

  • Avatar V32 January 24, 2011, 3:05 pm

    I enjoyed Derek’s previous books and could use this one as a resource since I’m just starting out as a DIY investor.

  • Avatar Andrew January 24, 2011, 3:05 pm

    put me in the draw

  • Avatar Dutchie January 24, 2011, 3:19 pm

    I’ve read/own 3 of his 4 books. ( I didn’t know he had a fourth book) I would like to add this to my collection.

  • Avatar Michael B January 24, 2011, 3:24 pm

    Would love a copy.

  • Avatar Jane Smith January 24, 2011, 3:27 pm

    I’m looking forward to reading this book. I have just recently gotten involved in finances as a career and have been soaking up as much information as possible.


  • Avatar Chris January 24, 2011, 3:30 pm

    I think I live near this guy. Draw me up!

  • Avatar Alex satchi January 24, 2011, 3:33 pm

    Would be nice to retire at 34.

  • Avatar Kevin January 24, 2011, 3:33 pm

    Just starting out in investing and plan on reading his book.

  • Avatar Traciatim January 24, 2011, 3:34 pm

    Count me in. After reading Enough Bull from Trahair it would be interesting to see Fosters take on ‘the other side’ and how it should be simple to pick winning a combination. I wonder if I take half my money and put it in either plan how it would turn out in the end. Then I wonder how it would stand up to the magic formula :)

  • Avatar Mark January 24, 2011, 3:53 pm

    Count me in for the giveaway. Thanks.

  • Avatar Marypat January 24, 2011, 3:54 pm

    Please enter my name in the draw. I have 2 of Derek’s books and would really enjoy reading his latest. Thanks!

  • Avatar Kyle January 24, 2011, 4:01 pm

    I’ve read/own 3 of his 4 books. ( I didn’t know he had a fourth book) I would like to add this to my collection.

  • Avatar dsven January 24, 2011, 4:10 pm

    He’s a bit of a snake oil salesman – but for a free copy, what do I have to lose?

    (I hope said insult doesn’t automatically disqualify me!)

  • Avatar Lindsay January 24, 2011, 4:13 pm

    Love the Posts from M$J and your Featured Writers. Very helpful in getting many of us on the right track. Thank you so much.

  • Avatar jimmy January 24, 2011, 4:24 pm

    would like the free book!

  • Avatar Jim January 24, 2011, 4:34 pm

    I’d be interested in reading this book.

  • Avatar Matthew January 24, 2011, 4:40 pm

    Retire at 34?! How early did he start? He must have begun with a serious “nest egg”? Or had a seriously high paying job over the course of his wealth building. Haven’t read the book but I’ll have to check it out.

  • Avatar Denis January 24, 2011, 4:51 pm

    Need to re think my investment philosophy. Would be a good read.

  • Avatar chris January 24, 2011, 4:53 pm

    thanks! sounds like a good one

  • Avatar Andre January 24, 2011, 5:02 pm

    I’ve read a couple of his other books, would be interested in this one too. Thanks

  • Avatar Lisa January 24, 2011, 5:10 pm

    I would be interested in giving this book a read…thanks.

  • Avatar Alex January 24, 2011, 5:29 pm

    As someone who has just started in dividend investing, I would definately be interested in reading his book.

  • Avatar Pete January 24, 2011, 5:45 pm

    Yeah, my bread and water might be enhanced with this book.

  • Avatar Ryan January 24, 2011, 5:50 pm

    I am so inspired by Derek

  • Avatar Bill January 24, 2011, 5:55 pm

    I’m going down south and need a good book to read, this one sounds great .

  • Avatar Jusebastien January 24, 2011, 5:55 pm

    Count me in for the draw.

  • Avatar Jeroen January 24, 2011, 6:07 pm

    I’ve read all of his previous books, so would love to win this one!

  • Avatar Richard January 24, 2011, 6:14 pm

    I’ve just started dividend investing and would love to read this book too! Thanks!

  • Avatar Eric January 24, 2011, 6:26 pm

    I’m interested

  • Avatar nora January 24, 2011, 6:36 pm

    Would love to win this book. Thanks for the giveaway!!

  • Avatar Larry January 24, 2011, 6:36 pm

    Long time lurker here.
    Please enter me for the draw.

  • Avatar DBL January 24, 2011, 6:42 pm

    Sounds like another good read.. Looking forward to it!

  • Avatar Gerry January 24, 2011, 6:52 pm

    I’d love to read this book.

  • Avatar Jason January 24, 2011, 7:05 pm

    I seen Derek on The Hour awhile back and never did end up picking up his book, would love to give this one a read sounds interesting.

  • Avatar Kelly January 24, 2011, 7:14 pm

    Thanks for the review. Always good to get another book referral.

  • Avatar mike January 24, 2011, 7:50 pm

    Looks like an interesting read.

  • Avatar Martin January 24, 2011, 8:05 pm

    I’m always interested to read about what Derek Foster is up to!

  • Avatar Jonathan H January 24, 2011, 8:43 pm

    Pick me. Pick me.

  • Avatar Big E January 24, 2011, 8:48 pm

    Idiot Millionaire … just what I want to be!

  • Avatar Michael January 24, 2011, 8:54 pm

    Very interested in his latest book, would love to get my hands on it. Count me in!

  • Avatar Bernie January 24, 2011, 9:01 pm

    I’m a Derek Foster fan & would love to have this book!

  • Avatar amber January 24, 2011, 9:03 pm

    I need this book!

  • Avatar amber January 24, 2011, 9:03 pm

    I want, need, gotta have this book!

  • Avatar Ozgur January 24, 2011, 9:16 pm

    I would like to have this book, thanks

  • Avatar PuddleJumper January 24, 2011, 9:26 pm

    Sounds like another book written for me!

  • Avatar carllecat January 24, 2011, 9:27 pm

    I am idiot and future investor. As a result, this book should be given to me!

  • Avatar Steve R January 24, 2011, 9:29 pm

    So I left a job several years ago and know have a new one. I guess I’m retired.

  • Avatar Allan January 24, 2011, 9:34 pm

    I’m an idiot and not a millionaire :( Maybe this book can help!

  • Avatar Dreamy January 24, 2011, 9:53 pm

    would love to read dis book & learn!~

  • Avatar AL January 24, 2011, 9:54 pm

    Would love to rerad it and pass it on to others who will also benefit

  • Avatar Linda January 24, 2011, 10:12 pm

    I’m a big Derek Foster fan and have read his 1st & 2nd books & have followed some of his advise re: buying stock through discount brokers & enrolling in DRIP’s and would really like to read this one too.

  • Avatar Adam Poirier January 24, 2011, 10:40 pm

    Who wouldn’t want to read anything that could help them retire at 34?

  • Avatar Kevin January 24, 2011, 10:41 pm

    Count me in! I’m not a Derek Foster fan, but I’m willing to keep an open mind.

  • Avatar maurice mendonca January 24, 2011, 10:44 pm

    Excellent Trusted Author

  • Avatar Garrett January 24, 2011, 10:52 pm

    Wouldn’t mind giving it a read.

  • Avatar Kate January 24, 2011, 10:54 pm

    I’d love to have the book, thanks!

  • Avatar Bhaskar Naik January 24, 2011, 11:12 pm

    Would love to read this book. Hope I can win it.

  • Avatar No Fees For Me January 24, 2011, 11:13 pm

    Really keen to see how he picks his stocks.

    Looking at my latest mutual fund statements I now have the same balance that I had five years ago. Lots of money through fees, etc. for the fund companies and my so called “advisor” – they can’t afford to have me retire.

  • Avatar Jeannie January 24, 2011, 11:54 pm

    I could use the advice! Hope I win!

  • Avatar Donna January 25, 2011, 1:19 am

    Would love to read this book as Derek’s first book is your favourite! I’d also like to read his first book too.

  • Avatar Vonnie January 25, 2011, 1:24 am

    His first book was the one that got me started in investing, really interested in reading what he’s up to now!

  • Avatar iamphysio January 25, 2011, 1:36 am

    Always like the opportunity of reading a new book.
    Thanks again.

  • Avatar Kenny January 25, 2011, 1:37 am

    I liked his first book, but was a bit disappointed when he cashed out. He frequently post on the canadian business forum.

  • Avatar Erik January 25, 2011, 1:37 am

    Haven’t read it yet, I look forward to it

  • Avatar UH January 25, 2011, 2:12 am

    Count me in! Seems like derek is an interesting fellow

  • Avatar 20 and Engaged January 25, 2011, 3:07 am

    I’d love to win the book and I’m signed up for your RSS feed :)

  • Avatar Ian January 25, 2011, 3:13 am

    Thanks for taking the time to review the text. I always find reading reviews of a new financial book motivates me to consider further options. I would should love a copy. Thanks.

  • Avatar CA Student January 25, 2011, 3:49 am

    Looks great! Would be nice to win a copy!

  • Avatar Ramona January 25, 2011, 9:13 am

    Yep – I’d like to win. Pop me into the contest please.

  • Avatar Craig January 25, 2011, 9:57 am

    Read his other books, and really liked them.

  • Avatar SoloSailor January 25, 2011, 10:07 am

    Is it me or is your blog getting better and better? For sure I’ve always enjoyed it, it’s just that now I’m appreciating your contributions more and more with the passing of time … and of course your incremental experience in blogging.


  • Avatar joncosmo January 25, 2011, 10:46 am

    Looks great! Would love to win a copy!

  • Avatar Michael Hall January 25, 2011, 10:47 am

    Look Interesting

  • Avatar terry tosky January 25, 2011, 10:53 am

    i need to read more about derek foster and how he continually beats most other investors –

  • Avatar Khawar Randhawa January 25, 2011, 11:12 am

    Looks to be great opportunity

  • Avatar LBanks January 25, 2011, 11:43 am

    Seems like Derek funds his retirement with all the books he writes….

  • Avatar satin005 January 25, 2011, 12:40 pm

    my first comment on this site

  • Avatar Max January 25, 2011, 1:00 pm

    I want one! Even though I agree the first one must be the best.

  • Avatar Cale January 25, 2011, 1:18 pm

    Here’s hoping I’ll win – and learn about Derek’s strategies.

  • Avatar Sam January 25, 2011, 1:26 pm

    Sounds like an interesting book to read. :)

  • Avatar Judy January 25, 2011, 2:20 pm

    Attended a Derek Foster seminar here in Sarnia. Interesting fellow. Would love to read his latest book.

  • Avatar Gin January 25, 2011, 2:41 pm

    Good day FT,

    Thanks for this blog. It is really useful for us interested in investing.

    I read Derek’s first book. This one seems quite interesting. I hope I’ll win a copy!

  • Avatar Vic January 25, 2011, 3:10 pm

    Thanks for this great opportunity.

    Looking forward to become an “idiot millionaire”.

  • Avatar Amit January 25, 2011, 3:16 pm

    Would love to read about all the stocks the author talks about.

  • Avatar Lyne January 25, 2011, 3:47 pm

    Thank you for the chance to win!

  • Avatar Lindsay January 25, 2011, 4:06 pm

    I have researched Derek and he has an interesting take on this space and I look forward to learn more. Thank you!

  • Avatar Pigzfly January 25, 2011, 4:49 pm

    Sounds like an interesting read, count me in!

  • Avatar Kevin Ross January 25, 2011, 5:30 pm

    Thanks for the opportunity to win !

  • Avatar Paulo F January 25, 2011, 6:03 pm

    Sounds like it should be good. Thanks for the chance to win. :)

  • Avatar Frank January 25, 2011, 6:35 pm

    Would love a copy, thanks!

  • Avatar Red January 25, 2011, 6:48 pm

    Here’s my entry

  • Avatar Chung January 25, 2011, 8:43 pm

    Would love a copy, thanks

  • Avatar Nurseb911 January 25, 2011, 9:46 pm

    And here I thought this guy had disappeared. What a joke….first he preaches one thing, does another, tries to re-invent himself and all the while doesn’t disclose positions until “after” the fact with nothing material to prove he’s made any money off anything aside from his books. This guy is selling the same information that is commonly available for free in lots of great resources. His interest is continuing to make money off these books rather than contributing anything worthwhile to the knowledge of new investors.

  • Avatar krantcents January 25, 2011, 9:52 pm

    Please send me a copy

  • Avatar bluegirl571 January 25, 2011, 10:23 pm

    I would really like to win the book, thanks for the opportunity!

  • Avatar peggy January 25, 2011, 10:29 pm

    I’m always interested to read personal finance books. Thanks.

  • Avatar Brendan January 25, 2011, 10:38 pm

    At 20 years old I’ll put it to best use.

  • Avatar Jeff Pick January 25, 2011, 11:43 pm

    Looks very interesting!!

  • Avatar Michael January 26, 2011, 12:06 am

    He sold at the bottom which has to be the worst decision ever but his books are interesting.

    Thanks MDJ

  • Avatar Indy January 26, 2011, 12:26 am

    Looks like an interesting book. Would be nice if I could get a hold of this free copy. Thanks.

  • Avatar Mark January 26, 2011, 12:47 am

    Id read this! Love to get the copy!

  • Avatar Kel January 26, 2011, 2:00 am

    Would be very interesting reading about the now controversial Mr. Foster and his definition of wealthy and retirement !

  • Avatar Pat January 26, 2011, 2:18 am

    I have bought one of his books and borrowed the others and I’ll probably read this one at some point. It would be great if I could win it!

  • Avatar K January 26, 2011, 2:49 am

    I am 41 and only invest in Mutual Funds so far, would love to read this book.

  • Avatar Brady January 26, 2011, 4:14 am

    Derek Foster is an inspiration to all.

  • Avatar Emily January 26, 2011, 11:26 am

    Count me in! Would love a copy!

  • Avatar chad January 26, 2011, 11:44 am

    it looks like a very good book for all.

  • Avatar Mark January 26, 2011, 11:50 am

    It looks like an interesting book.

  • Avatar andrewbpaterson January 26, 2011, 1:03 pm

    Derek Foster’s awesome!
    Count me in…

  • Avatar Mark January 26, 2011, 2:18 pm

    I want to read about him!

  • Avatar G.V.Ananthaswamy January 26, 2011, 2:37 pm


  • Avatar tsiko January 26, 2011, 4:34 pm

    Thanks for this chance to win the book.

  • Avatar Erin January 26, 2011, 5:11 pm

    I’m just getting into personal finance and I have so much to learn yet it’s daunting but I’ve been enjoying and been inspired by so many PF bloggers it’s wonderful! Thanks for putting all this great info out there!

  • Avatar Ryszard January 26, 2011, 9:08 pm

    I really enjoy your blog. I am just getting into personal finance, and I am trying to learn as much as possible to make sure I can retire, sometime.

  • Avatar Andrea January 26, 2011, 9:08 pm

    I would love to win a copy of this book!

  • Avatar Sarah T January 26, 2011, 9:20 pm

    Thank you for the opportunity to enter to win this book – looks like a great one.

  • Avatar Tony January 26, 2011, 10:07 pm

    sounds like it will be another winner

  • Avatar Lanette January 26, 2011, 11:58 pm

    I’m just starting my investing journey and am always looking to read easy-to-understand books that can help build my knowledge base. This one sounds like it’d be great!

  • Avatar Richard January 27, 2011, 12:02 am

    looks like a nice read

  • Avatar Greg January 27, 2011, 2:09 am

    I’d like to read it.

  • Avatar Jungle January 27, 2011, 5:35 am

    Thanks for the book review Frugal, I didn’t know he came out with a new one. Please add me to the list for the free book draw.


  • Avatar Jenny January 27, 2011, 6:13 am

    I read his other books and liked them. I want to read this one too!

  • Avatar Cowtown Realist January 27, 2011, 7:23 am

    Sounds great, would love to read it!

  • Avatar Glenn Tucker January 27, 2011, 10:52 am

    Always interested in read ways to invest smarter.

  • Avatar Marie January 27, 2011, 11:39 am

    Sounds like an interesting read!

  • Avatar k January 27, 2011, 1:32 pm

    Way to go Derek! Congrats on the new book and congrats to MDJ for reviewing it….

  • Avatar Priy January 27, 2011, 7:02 pm

    Wouldn’t mind reading this!

  • Avatar Abraham January 27, 2011, 7:12 pm

    Sounds like an interesting book. I hope I win!

  • Avatar mina January 27, 2011, 9:27 pm

    I’d love to read this.

  • Avatar Mike January 27, 2011, 11:20 pm

    Sounds like a good yarn

  • Avatar JP January 28, 2011, 12:22 am

    Just getting into divided investing. This would be an interesting read.

  • Avatar Paul January 28, 2011, 12:23 am

    I would love to read his new book

  • Avatar Dave January 28, 2011, 6:56 am

    Would love to have this book!

  • Avatar Frank January 28, 2011, 9:21 am

    Let’s see how he is different from Jarislowsky, the canadian Warren Buffet

  • Avatar Matt January 28, 2011, 9:25 am

    The book sounds very useful.

  • Avatar Niki January 28, 2011, 10:31 am

    love to read it :)

  • Avatar Connie Walsh January 28, 2011, 11:10 am

    I loved the one about dividends so I am looking forward to this one.

  • Avatar Allison January 28, 2011, 11:45 am

    I would like to win the book so that I can learn to discuss investing with my husband!

  • Avatar David January 28, 2011, 1:07 pm

    Would be interested in reading it.

  • Avatar GG January 28, 2011, 1:11 pm

    I need all the help I can get with starting to invest in the stock market; I find it overwhelming.

  • Avatar Marc January 28, 2011, 1:13 pm

    Hey … thanks for the opportunity. I am very interested in all Derek’s writings and advice.

  • Avatar Richard January 28, 2011, 1:15 pm

    Would love to win this book!

  • Avatar Gaurav January 28, 2011, 1:19 pm

    I want to know different ways of investing.

  • Avatar Alberto January 28, 2011, 1:30 pm

    Read all Foster’s books before this one, would like to get hold of this one as well.

  • Avatar FrugalGreenie January 28, 2011, 1:37 pm

    I want to know more.

  • Avatar RRS January 28, 2011, 1:53 pm

    I have his first book, ‘Stop Working, Here’s How You Can’.

    I wnat this one as well.

  • Avatar RRS January 28, 2011, 1:53 pm

    I have his first book, ‘Stop Working, Here’s How You Can’.

    I want this one as well.

  • Avatar Matthew S January 28, 2011, 2:03 pm

    Derek Foster’s books have been interesting so far. I look forward to reading this one.

  • Avatar Gene January 28, 2011, 2:11 pm

    Wow, lots of comments.

  • Avatar rob January 28, 2011, 2:14 pm

    Hoping to win for a change.

  • Avatar Judy January 28, 2011, 2:38 pm

    let’s hope for another winning book

  • Avatar TTTSNB January 28, 2011, 2:50 pm

    Can’t wait to read it

  • Avatar Howard Cowan January 28, 2011, 3:07 pm

    Sounds good to me – I’d love to have a look-see!

  • Avatar Y January 28, 2011, 4:38 pm

    Interested to read the new book my Mr. Foster. One of his previous actually prompted me to start acting.

  • Avatar Kevin January 28, 2011, 4:55 pm

    Would love to read it!

  • Avatar Lisa January 28, 2011, 5:10 pm

    I would love to win this book

  • Avatar Rob January 28, 2011, 5:42 pm

    Hopefully, pick up some great ideas

  • Avatar Good Times January 28, 2011, 5:47 pm

    Derek’s strategy of picking dividend paying stocks is truely the correct way to invest in the stock market. Simply trying to buy low and sell high is very similar to playing the lottery, and usually has the same results.

  • Avatar Nate January 28, 2011, 5:56 pm

    I like to win the book

  • Avatar Hung January 28, 2011, 6:07 pm

    It is awesome that the book covers so many types of stocks. But I’d love to read Chapter 1, 13 and 14 most imho.

  • Avatar Henry January 28, 2011, 6:18 pm

    I read his previous book. It was well written. Hopefully this is in the same style

  • Avatar supersocco January 28, 2011, 6:58 pm

    Looks like I have a 1 in 122 chance of winning so far. Hey, that’s pretty good :)

  • Avatar Vu Tran January 28, 2011, 8:12 pm

    What is your net worth when you retired? What do you think the minimum NW needed for retiring in Canada?

  • Avatar Kelly January 28, 2011, 11:59 pm

    Big fan of Derek Foster!

  • Avatar Nicola January 29, 2011, 12:10 am

    Would love to read this book. Thanks!

  • Avatar Scotian January 29, 2011, 12:15 am

    Derek Foster shows how the average individual can become wealthy by paying yourself first and using this to make your money work for you.

  • Avatar Sid. January 29, 2011, 3:43 am

    Your books aren’t available here in Mexico, so I have to beg my visiting friends to bring me your latest. Can’t wait to read “The Idiot Millionaire”

  • Avatar Sandy January 29, 2011, 10:23 am

    Cheers, your an inspiration.

  • Avatar jeff January 29, 2011, 11:18 am

    I want to win the book!

  • Avatar NewInvest January 29, 2011, 12:14 pm

    Nice site for a very new small budget investor. Posting for first time. Would help to learn from a book like this. Thanks.

  • Avatar Cal January 29, 2011, 1:24 pm

    I liked his book ‘The lazy Millionaire’ best!

  • Avatar Steve January 29, 2011, 1:40 pm

    The book sounds great, I hope I win!

  • Avatar Line B January 29, 2011, 1:46 pm

    Give it to me! ill probably never be able to retire without it! ;)

  • Avatar Jon January 29, 2011, 2:32 pm

    Sure, I like free stuff.

  • Avatar Bruno January 29, 2011, 3:36 pm

    I’m in for the draw!

  • Avatar Dinu January 29, 2011, 5:08 pm

    Count me in for the free book please; I’m a big fan of MDJ.

  • Avatar len January 29, 2011, 5:40 pm

    Would like to read your next book have read the others. Currently I am collecting just over $100 per month in dividends.
    Thank you

  • Avatar Sam January 29, 2011, 7:10 pm

    Would love to read this inspiring (Derek Foster) author’s book with an inspiring title.

  • Avatar Thomas January 29, 2011, 7:22 pm

    Would love to know how Derek thinks by reading this book and also like free stuff..:-)

    A man who thinks – strategises

  • Avatar Igor Katkov January 29, 2011, 8:42 pm

    Looks like an interesting read!

  • Avatar Pete Smith January 29, 2011, 10:35 pm

    Send me that book!

  • Avatar Roman January 29, 2011, 11:01 pm

    Looks like an interesting book. Had a chance to look through it at a book store. Can’t wait to read it soon.

  • Avatar Patricia January 30, 2011, 9:57 am

    I’ve read lots about him but never anything by him, would love to read this.

  • Avatar Rob VH February 1, 2011, 6:20 pm

    I enjoyed Mr. Foster’s first book “Stop Working”. It was a light read, made some good points, laid out a simple and actionable plan, and provided inspiration from a young Canadian who achieved early financial independence.

    “The Lazy Investor” was redundant, in my opinion. “Money For Nothing” is a good addition to his overall strategy and I’ll probably end up buying “The Idiot Millionaire” for a friend even if I win one here. The books are inexpensive and are easy to digest for people who, unlike myself, don’t read a lot of financial books or forums.

  • Avatar js_cooldude February 7, 2011, 11:23 pm

    Yay, free book!
    Sounds interesting.

  • Avatar oxanacanada February 24, 2011, 12:51 pm

    This morning I heard Derek saying: “People brush their teeth every morning”. It actually gave me an idea about his “idiot proof stocks”. I was getting more and more interested about dividend paying stocks, but needed just basic knowledge from person who actually started from scratch and successfully built his fortune without high-paying job. Would be really nice to read this book.

  • Avatar Maxine February 26, 2011, 1:27 am

    interesting, yet simple. genius!

  • Avatar Chris April 6, 2011, 11:00 am

    Good title…considering the author is a massive idiot himself. After Derek completely contradicted his entire investing philosophy in 2009, why would anyone listen to a single word that he has to say?

  • Avatar thedave2006 April 17, 2011, 9:30 am

    Confidence in yourself. You must have a plan and comfortability, veer too much away is not good. Ultimately, in and out before herd…..are you smarter than the buyer when selling and smarter than the seller when buying.

  • Avatar richard-farris.com August 4, 2011, 7:53 pm

    I agree. Derek’s first book is also my favorite. I’ll be picking up this book mostly to learn how he fared in the 2009 bottom and his decisions to sell. I think the biggest “controversy” around Foster is how he can claim to be retired while cranking out investment books which give him more income to invest. Regardless, I love reading his books.


  • Avatar al September 3, 2012, 1:07 pm

    i 2 invest in cos and live off the income am disabled get pension i own this house so they work well for me

  • Avatar NoOneOfConsequence September 9, 2012, 10:24 pm

    if everyone in the whole world did this…could we all “retire”?

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