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Smart Women Finish Rich summary
A Proven Roadmap to Financial Security & Living the Life You Want
23 mins
Brief summary
Smart Women Finish Rich by David Bach is a personal finance book that empowers women to take control of their money and build wealth. It provides actionable tips for saving, investing, and living a financially secure life.
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Smart Women Finish Rich
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Key idea 1 of 9
Busting the money myths
How many times have you heard the saying “Knowledge is power”? Probably more than once or twice. Yet, knowledge is only potential power. It’s what we do with knowledge that counts.
Unfortunately, money is a subject riddled with misinformation. This makes taking action overwhelming at best and downright detrimental at worst.
So let’s start by busting the most common myth: the myth that wealth depends on income.
Now you may be thinking, “What part of that is a myth? A fat income is how you become rich!” But let’s take a look at some numbers. Say you earn $2,000 a month. Over a 40-year career, $960,000 will pass through your hands. Earn $5,000 a month, and that sum leaps to $2,400,000. Yet, a GoBankingRates report revealed that 42 percent of US adults have less than $10,000 tucked away for retirement!
For most of us, the problem isn’t a lack of money – it’s how that money is handled. An eight-figure net worth doesn’t mean much if you spend eight figures each year. Consider hip-hop star M. C. Hammer. In the early 1990s, Hammer was one of the world’s highest paid performers – earning a cool $35 million in just one year – and his spending reflected his status. But less than five years later, the superstar was filing for bankruptcy.
Smart Women avoid this fate at all costs. Later sections will explore the specifics of where your earnings should go and how effortless proper distribution can be, but for now, understand that “finishing rich” won’t require more money than you already have. By retaining more of your current income, that mythical place called wealth can become your new home.
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What is Smart Women Finish Rich about?
Smart Women Finish Rich (1998) is a guide to financial empowerment. The personal finance classic walks readers through everything from saving to investing to – ultimately – building a values-based life and funding your dreams.
Smart Women Finish Rich Review
Smart Women Finish Rich (1999) is a valuable resource for women looking to take control of their financial future. Here's why this book is worth the read:
- It provides practical strategies and advice specifically tailored to women, empowering them to make smart financial decisions and achieve their financial goals.
- Backed by research and real-life examples, the book offers actionable steps and insights to help women build wealth and secure their financial freedom.
- The author's engaging and relatable tone makes the book an enjoyable read, keeping readers engaged while learning essential financial concepts.
Who should read Smart Women Finish Rich?
- Anyone intimidated by personal finance
- Young women starting out in their careers
- Individuals approaching retirement
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Smart Women Finish Rich FAQs
What is the main message of Smart Women Finish Rich?
Smart Women Finish Rich teaches women how to take control of their financial future and build wealth.
How long does it take to read Smart Women Finish Rich?
The estimated reading time for Smart Women Finish Rich is several hours. The Blinkist summary can be read in just 15 minutes.
Is Smart Women Finish Rich a good book? Is it worth reading?
Smart Women Finish Rich is worth reading as it provides valuable insights and strategies for women to achieve financial security.
Who is the author of Smart Women Finish Rich?
The author of Smart Women Finish Rich is David Bach.
What to read after Smart Women Finish Rich?
If you're wondering what to read next after Smart Women Finish Rich, here are some recommendations we suggest:
- Financial Feminist by Tori Dunlap
- We Should All Be Millionaires by Rachel Rodgers
- The Financial Diet by Chelsea Fagan and Lauren Ver Hage
- The Courage to Be Disliked by Ichiro Kishimi & Fumitake Koga
- Born For This by Chris Guillebeau
- Become What You Are by Alan Watts
- The Joy of Connections by Dr. Ruth K. Westheimer
- How Economics Explains the World by Andrew Leigh
- Tools of Titans by Tim Ferriss
- Building Your Money Machine with ChatGPT by Larry Wheeler