Smart Women Finish Rich Book Summary - Smart Women Finish Rich Book explained in key points
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Smart Women Finish Rich summary

David Bach

A Proven Roadmap to Financial Security & Living the Life You Want

3.4 (35 ratings)
23 mins
9 key ideas
Audio & text

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. 

About the Author

David Bach is an American financial author with ten New York Times bestsellers (including The Automatic Millionaire and Start Late, Finish Rich) to his name. His work has regularly been featured on The Oprah Winfrey Show, ABC, CBS, CNBC, CNN, and Fox. Bach is also the founder of FinishRich Media, which has brought his FinishRich Seminars to thousands worldwide. 

Table of Contents

    Smart Women Finish Rich
    summarized in 9 key ideas

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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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    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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