With all due respect to other reviewers, this book is a) a straight
forward read and b) pretty darn accurate.
Looking at the plan he lays out in this book -- using DRPs coupled
with SPPs your investment quickly becomes sizable.
Look at the major Canadian banks: BNS dividend .50/share/quarter
that means at 100 shares ($4850.00 roughly) you will be receiving 1
additional share every quarter. Assuming that you continue to
invest regularly (say about 375-400 dollars per month -- remember
pay yourself first, let the bill collectors wait) you will receive
4 "free" shares in the second year (plus partial shares from the
year before) 8 "free" shares the third etc... And that's not
looking at splits, dividend increases, partial share reinvestment
etc. At 2500 shares (his average recommendation in his first book)
you would receive a quarterly income of $1250 dollars -- now
multiply that by the number of companies in your portfolio (Say for
example: BNS, CM .87/share/quarter, BMO .70/share/quarter, REI.UN
.11/share/month, and NA .62/share/quarter) is roughly $6250 per
quarter (three months) which is over $2000.00 a month.
I say its definitely achievable -- My wife and I have already
started, we have an 18 year plan. Its a long term plan, but that is
his point in the book -- this isn't a get rich quick scheme its a
retirement plan. And according to Canadian law its a retirement
plan you can pass on to your children (Securities can be directly
transferred at death).
Now having said all that, I wouldn't stop with this plan -- I'm
greedy -- but he also has a list of books for his readers in the
back and I highly recommend reading them. Look into things like
incorporating, rental properties etc... Very useful, all of it.