Book Review: RichWoman
I think Kim Kiyosaki puts any women and investing myths to rest in this quote, “In the world of investing, the how to invest – how to buy a rental property, how to choose a stock, or how to get a good return on your investment – is the same for women as it is for men (RichWoman).” I am by no means a feminist, but I do believe that everyone from women to men, old and young, should be financially independent. And, although I’m not there yet (I still have to nip some shopping habits in the bud), I am working towards that goal.
What I liked about RichWoman was that it did provide some valuable knowledge to anyone wanting to get financially educated; for instance, the four keys to being a successful investor. Kim Kiyosaki states that to be a successful investor there are four steps:
1. Education – do your homework, be prepared and that may “mean the difference between making and losing money.”
2. Start Small – if you start small and make mistakes your losses are smaller; moreover, by starting small you are gaining first hand experience
3. Put a Little Money Down – this way you’re being an active investor, you’re reducing the risk, and you have a vetted interest because it is your money
4. Stay Close to Home – you are able to keep track of your investments if there is a problem and when your focus is limited to a number of key areas you’d be surprised at what deals you find…(steps 1-4 quoted from RichWoman)
These steps, along with others were all helpful suggestions. I also really liked the index in the back of the book that defined general finance and investing terms.
However, I did have a problem with the book in that it was more of a story than a guide on investing. She talked a lot about her friend’s stories on investing and on the importance of investing for women, but this isn’t that helpful if you are looking for a “how-to” guide. I would recommend this book but keep in mind if you’re looking for more a concrete guide and the how-to’s of investing, I’d shop around a bit more.
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