Friday, February 06, 2009

Rich Woman Review

I had this idea to start a book club some time ago (November-ish, maybe?!) because I'd heard of the book Rich Woman by Kim Kiyosaki (wife of the Rich Dad, Poor Dad author) and thought it would be great to discuss with a group of women. Well, my invited group of ELEVEN ended up being a group of THREE, because some of the gals who read it, realized that finances were boring. Hmmmm...slightly concerning, but that's a discussion for another time.

One of the women was a no show last night, so it ended up being just Lori and I (which really, was okay seeing as how my dinner was silly and my house wasn't really clean). Because Lori is a good friend, and is married to a good friend, we were really able to have an open and interesting conversation about money, wealth, and how women especially have a hard time making decisions about what we really want.

Kim Kiyosaki writes this book like a conversation amongst friends. At first, I really liked that part about the book, but then it got a little hokey...I think Lori agreed somewhat. It does really simplify money issues, though. She also talks about how most women avoid ever making financial decisions because someday they'll have a husband who will do it for them and how damaging that can be in terms of financial literacy as many women face living alone at somepoint in their lives, or some sort of catastrophe which requires their inside knowledge of their own finances.

Ultimately, the point of the book is not to sit on money, but to make YOUR money work for YOU. Whether you invest money in stocks, or in rental property, or in some other format, an asset is not an asset unless it is bringing some sort of return each month. It's shocking to think of it this way. Now Kiyosaki doesn't recommend going out and buying an apartment complex right away, but rather starting small! So, Lori and I decided to look at tax lien certificates in order to bring in a small return. It's all about learning and we're going to continue to research and apply some of the principles we learned in this book!

1 comment:

Beks said...

You are a rockstar! If I lived in CA still, I would love to be in your book club! I think I may have mentioned that I am purpoosing to read a book a month this year, and so far so good! I know I know, we're only in February!

Keep up the awesome work!