He is living the dream that most of us can only, well…dream about. Derek Foster, also known as ‘The lazy investor,’ is a Canadian investor who left the mainstream workforce because he loathed working for someone else’s money.
At the age of 34 Derek decided that he was sick of answering to a boss, tired of dressing in suits, completely over the commute. Derek Foster started investing from the moment he resigned. The man has not designed a formula, created a product or established a multimillion dollar firm; he simply invests and does it wisely.
Derek believes that anyone can do it. His investment portfolio is pretty impressive and his formula makes a lot of sense. Foster makes a point of investing only in companies that will remain strong through recessions. Colgate, for example, is a sure bet because regardless of recession or not, people are going to brush their teeth. He makes a point of staying away from technology. His belief is that investment in the digital world can be exceptionally finicky as the rapid creation of upgrades and the pace at which new tablets, mobiles and laptops are being fired out of technology labs produces waves of anxiety for investors. Look at Google. The highly trusted shares of the search engine are now making investors sweat because of Google’s venture into the extremely competitive market of digital hardware.
Looking at the market as a means to creating income, Derek does not see it as a get-rich-quick-scheme. Foster makes enough money through investing to ensure that through reinvestment, his money works for him, as opposed to him working for his money. Derek Foster, author of ‘The Idiot Millionaire,’ and ‘Money for Nothing,’ has pearls of wisdom to impart. He publishes his own books and keeps his income, interest derived from his investments, below the tax bracket so he doesn’t pay ridiculous fees.
He is a family man but Derek and his family live modestly and thanks to their simple ways and good investments they can live life their own way. Foster is planning on buying a camper van at the end of the year and taking the Foster family on the road for a year. He does not want to deal with the expenses and aggravation of being a landlord so he sold his home. The man lives life his way and the way that most of us would like to. Derek Foster is the coolest ‘lazy’ person ever.
Vida Denning is a freelance writer who was researching office space Dubai when she came across Derek Foster’s book. It’s on her must-read list.