Smart Women Love Money: 5 Simple, Life-Changing Rules of Investing

by Alice Finn

How can women find freedom and follow their passions if they don’t understand how to pay for it all? In Get Smart, Get Rich, wealth management adviser Alice Finn gives women insider tips on how make millions—by investing their money the smart way.

Two-thirds of all women, at some point in their lives, will have to independently manage their finances and those of their family. Yet studies show that most women have little or no confidence in their ability to invest, or even any interest in investing.

Alice Finn is changing that. She believes that women can have it all and pay for it—they just have to know how. Finn founded PowerHouse Assets to engage women in their financial futures and teach them how to invest their money wisely. And now, Finn has created a program to bridge the gender gap in investing and to get women excited about financial planning. She cuts through the intimidating jargon of Wall Street and gets women talking about their finances and what they want for their financial futures.

Everyone, whether they’re the CEO of a Fortune 500 company, a middle school teacher, or a stay-at-home mom, should know how to manage their money and invest it wisely so that it’s safe for the next generation. With Get Smart, Get Rich, readers can learn how to talk about and manage their own finances so that they’re in control of their money and their futures.

Genres: Nonfiction, Finance, Self Help, Money, Personal Finance, Education, Book Club

240 pages, Hardcover

Published April 11, 2017

Reviews

[Lorilin · Rating 5 out of 5]

What a fantastic resource for basic but effective investing advice. This has motivated me to look at my current investments and make a plan for where and how I need to rebalance. Loved the book start to finish.

[Wyn Lydecker · Rating 5 out of 5]

Don't let the title put you off. This book is essential reading for anyone who wants to have a secure financial future. The author takes a very simple concept - invest for the long-run in low-cost index funds - and spins it into a five-step process. At first, I couldn't believe that something so simple needed the five-parts, but the author was really thinking of her audience and what they needed to know.

The book should be re-titled: "Investing for the Absolute and Utter Beginner." The writing is incredibly clear and straight forward, illustrated with simple, understandable graphs. It's really a perfect book for anyone who does not understand the stock market or how to save and invest.

[Matt M · Rating 5 out of 5]

A well-written, easily accessible guide to personal investing. The book avoids gimmicks and instead lays out a clear, simple investment strategy with a proven track record of success that readers can execute on their own. It is an enjoyable read and one that will leave you better informed and ready to take control of your investment portfolio.

[Gary Farner · Rating 5 out of 5]

As a male graduate of the MIT Sloan School of Business with a concentration in finance, I am impressed with Alice Finn’s book Smart Women Love Money.

The book is very well written with interesting case studies, examples and charts that support her 5 principles, which I firmly agree with. Unlike an investment text, I enjoyed reading this book in 2 sittings over about 4 hours.

Smart Women Love Money provides a comprehensive explanation of investment options with clear instructions to help novice or partly sophisticated investors (women or men) effectively manage their money with modest effort and stress.

Its 5 principles and supporting material also remind more experienced investors of fundamental investment strategies to follow.

As a result of reading this book, I modified my asset allocations to what I believe will be a better mix given my specific situation.

I recommend that any non-expert investor read this book and that more experienced investors strongly consider it.

[Carol · Rating 5 out of 5]

Alice is an extremely knowledgeable finance professional who compels women to take charge of their finances, learn how to invest and be active stakeholders of their money. Her book offers accessible tips for the lay person and recommends women not cast a blind eye to their financial futures but rather get involved and get invested. This is a must read for all women.

[Nellie Stagg · Rating 5 out of 5]

An accessible and helpful guide for women looking to cut through the noise and start investing, at any age or amount.

“My vision for you is that, using your newfound knowledge, you will create a new world for yourself, one in which money and investing no longer make you feel anxious but instead give you confidence to pursue the life you want.”

[Free Thinking Mom · Rating 5 out of 5]

Fantastic book for those in need of advice or as a general refresher. As a former employee of a global index provider, I wholeheartedly agree with the idea of passive investing. A definite must read for all women.

[Ilene · Rating 5 out of 5]

Truly practical advice for anyone who wants a crash course in personal finance. Managing your money does not have to be an intimidating task!

[Megan Connell · Rating 5 out of 5]

Accessible and clear, a great beginning investment book for folks who've been intimidated by the process or feel they just don't have the talent necessary for investing.

[Megan · Rating 4 out of 5]

This book was exactly what I was looking for to go beyond the personal finance basics. Go read Suze Orman or Smart Women Finish Rich first if you need the intro on budgeting, debt, and basic money management. I was getting tired of reading those just to get to an afterthought of a chapter that tells you investing is good. This book jumps right into that next step and not only tells you that you should invest, but explains why and how. The author lays out five principles to make good decisions and more than likely improve your financial future. It's a quick read although sometimes she gets in the weeds. I felt like it was a little too retirement-focused, but her supporting points (the WHY behind the principles) do make sense for any investment goal and I finished the book feeling more knowledgeable, confident, and motivated to take action. It's better to be in the market than not and there's no better time than now to start (unless, of course, you have a time machine).

[Denise みか Hutchins · Rating 5 out of 5]

I'm so glad, of the three books I checked out from the library to learn more about investing, I chose to read this one first. As I hoped, it covered the basics, cut out all the confusing stuff, and, most importantly, gave me solid, easy-to-remember ground rules that I can, will, and indeed already have put to work. That's not to mention how easy it was to read and understand. I wanted to learn how to invest and build a stable future for myself, and this book totally made that happen! I almost don't even need to read the other two books that I checked out...

This book is written for women, but aside from the parts that explain why it's so important (and so hard) for women to get involved in investing and otherwise managing their financial futures, it's actually useful for anyone who wants to not only learn about investing but to learn how to do it successfully. I highly recommend it to everyone!

[Palak · Rating 5 out of 5]

This book is a MUST HAVE for all women who are interested in investing.

It is easy to read and follow, contains a glossary that explains all of the essential finance vocabulary, and leaves you feeling empowered and ready to make your money work for you! I have shared the book with many women in my life - family and friends -and women at the intersections of multiple races and socioeconomic status who have been inspired to invest their money (however much it may be) following this read. This is a great gift both for yourself and for those women in your life who have never pictured themselves as savvy investors.

I also had the chance to meet the author, Alice Finn, in person during a workshop at my university and was impressed by her honesty, humility, the simple and yet profound tips and tools she shared, and her patience. These values are all reflected in her book.

[Suha · Rating 4 out of 5]

Instead of being put off for what i thought was a corny title at first, I became more intrigued. Why is it that when we say 'Smart men love money' we don't cringe as much as when we hear that women love money? Therein lies the problem, and I loved how the writer helps change our philosophy towards money in the first place. It was an empowering read, and a comprehensive one if you want to start making your money work for you. I do feel a little lost still since alot of what was said applies to people based in the US, and yet the Five Fundamentals she outlined hold true regardless of the market you are investing in. I would have loved a part two that helps breakdown balancing/asset allocation a bit more by relevant case studies or use cases so as to illustrate the point more literally. All in all, recommend this book to any woman (or even man) who wants to start investing.

[Aarthi Muthuswamy · Rating 5 out of 5]

Definitely an eye opener and educative book. The book emphasizes and motivates women to start understanding the power of investing and learning to make investment decisions by guiding us through 5 fundamental principles for a long term growth of the portfolio. It briefly discusses with examples, the different classes of funds like ETF, index fund, mutual funds, stocks, cash etc. This book recommends everyone who is new to the field of investing to take advantage of the compounding effect especially from a younger age. Must read book to educate yourself and also inspires you to learn more about the markets and various investment strategies.

[Donna Wuerschmidt · Rating 4 out of 5]

I’m so grateful I found this book and highly recommend it to anyone that is looking to become more financially confident. Historically being a “man’s game”, Finn confronts the stereotypes and insecurities women often feel when attempting to break into the investing world. While investing for retirement has become a necessity, the stock market continues to be masked behind vague explanations and confusing jargon, making it unattainable except to a privileged few (usually wealthy men). Thankfully, this book provides an organized guide in a clear, comprehensive format that is very easy to grasp.

[Sonia · Rating 4 out of 5]

Starts off with a great way to rethink one's mindset about money and investing.

Key takeaways:
1. Allocate resources according to one's risk appetite -- stocks v bonds and the subsets of international v domestic, value v growth
2. Rebalance at least once a year, take the emotion out of investing
3. Keep costs low -- know what fees you are paying, shop around; the same index could have different fees depending on who offers it

[Casey Bell · Rating 5 out of 5]

I am a smart man who loves people and not money, but this book has helped me to understand investing. I was completely closed minded about investing and it is nothing of what I thought it was. I read this book and a few others and I am now starting to fly this plane called investing.

[MC · Rating 3 out of 5]

1. Invest in Stocks for the long run
2. Allocate your assets
3. Implement using index funds
4. Rebalance Regularly
5. Keep fees low

[Virginia]

recommended by Diane S. Bourdo, CFP® at The Humphreys Group via FPA WinF KC 4/11/2023

[Frieda · Rating 5 out of 5]

For me, the concepts behind investing were always a bit daunting which left me disinterested in learning more about it. However, as I get older, I recognize that I should take more control over what and where I invest rather than just ignore my 401ks. So, I decided that now was the time to become better acquainted with investing and find the confidence to make decisions to create a better retirement.

This book was great - very straightforward. The five fundamentals include:
1. Invest in stocks for the long-run. The stock market is up and down, kind of like life, so it's better to keep steady and ride out the lows.

2. Allocate your assets. Creating an emergency fund is a good first step before deciding where you would like to invest your money. Depending on your risk level, you can go with a higher percentage in stocks and balance the it out with something safer like bonds.

3. Implement using Index Funds. Index funds are a great way to diversify your portfolio and have a good return on investment in the long run.

4. Rebalance regularly. This involves selling a portion of your stocks in order to ensure that your asset allocation percentages remain the same. For example, you have 60% invested in stocks and 40% in bonds. Suddenly, it's a bull market and you're making a ton off your stocks, creating an imbalance (and potential big tax implications), therefore you sell some of the successful stock in order to return to your balance of 60/40.

5. Keep fees low. You need to check all the costs involved when investing in a particular stock, index fund, bond, etc. Sometimes your return on investment isn't all that much if you need to pay several fees to keep those investments in your portfolio.

[Jessica · Rating 4 out of 5]

This book is an excellent read for any woman avoiding learning about the world of investing. Alice Finn does a wonderful job of cutting out the noise & telling you exactly what you need to know. The investment world is not as complex as it’s made out to be and the media & marketing surrounding it are essentially all hogwash. Don’t be afraid of investing, even if — no, ESPECIALLY if—your significant other typically takes care of the financial planning & investing. Pick up this book & educate yourself. It only took a few days to get through & is totally worth it.

Only criticism: This book either could’ve been a lot shorter or the same length but with less repetition/more specific scenarios & examples. This issue doesn’t devalue the book whatsoever though and it’s still a wonderful resource for all women who want to be empowered to make strong, smart financial decisions for themselves & their families.

[EFinn1 · Rating 5 out of 5]

This book is a must-read for every woman. It is never too early or too late to have a good understanding of how your money grows. Ms. Finn demystifies the world of investing through what she calls the Five Fundamentals. Even if you never decide to dip your toe into the world of managing your investing, retirement accounts, etc., you should know that facts so that you can make informed decisions about who will be handling your hard-earned money and your financial future.
This isn't a quick read- this is a book that you read with a pen and a notebook, but it is well worth the effort. It is written in an easy-to-understand language, with simple concepts, and gives great examples. My favorite quote is that "Money is a river, not a lake; it is not finite and can be replenished." She also provides a list of questions to ask when hiring a financial advisor, and a glossary of terms from the book for ease of reference.

[Kelley Holland · Rating 4 out of 5]

Alice Finn gives very solid, practical, clear advice in this book. And her title goes further - embracing what for some is a radical idea. Too many of us (raising my hand here) grew up thinking that money causes problems and divides family, and it's best not to think about it. Wrong! Money is the tool that can help us achieve our life goals - if we maintain it and put it to work.
My one quibble with this book is in the space that remains between "I see you where you are with your feelings" and "Here is what you need to do to grow your savings and wealth." I find in my coaching practice that the key is helping women understand that they DESERVE to feel better about their money and they CAN learn to do these things.
That said, I do appreciate the clarity of Finn's message and the quality of the advice she provides. Definitely a book to have in your (ahem) toolkit.

[Elisha · Rating 2 out of 5]

I am learning about grown up money, and I liked this explanation of shares and why one should invest. Not mad about the part at the end in which she blatantly suggests you throw ethics out the window. I get that the goal is making money, but I am not on board with doing that at all costs. I also understand the warning that ethical investing can be a marketing tool particularly leveled at women, with little return, but this seems like a work on the system rather than lower oneself to the broken system situation. Do better.

[Cheryl · Rating 3 out of 5]

I went into this book hoping to get some new advice or at least a new perspective on investing and managing money. While there were some good nuggets of advice sprinkled throughout the book, for anyone who has done any research or reading on investing most of Finn's advice will be repeats of what you've already heard. It's a good place to start for people that are scared of or don't know much about investing, but people with some knowledge in the area probably won't find a lot new here.

[Lauren Shelepak · Rating 5 out of 5]

Alice Finn expertly explains investing in digestible, engaging terms. Her style kept hooked, and I was able to put her ideas immediately into practice. I’ve recommend this book to several friends who, like me, felt shaky about personal finances. I hope they gain as much as I did for this book. My only wish is that I had read this sooner. Thank you Alice for writing such an excellent resource for women!

[Denise · Rating 4 out of 5]

This was a helpful book, even though at times I still found the subject daunting. Chapter 7 was the most helpful and where I found it really gave you a step-by-step guide. If you want to get down to it, I would suggest reading that chapter first and then going back or using the glossary when you find it confusing.

[Mari McR · Rating 3 out of 5]

If I could give 3.5 stars, that would be more suitable. This book is for those who are just starting to get involved (or thinking about it) in investing. For readers who have already practiced the 5 Rules, look for the next book, which I hope the author will write "Smart Women Love Money Part II."

[Teagan Stewart · Rating 4 out of 5]

It's hard to rate a finance book, mostly since I don't read too many of them.
There were moments where I still felt fully in the weeds of finance jargon, but on the whole, I learned a lot and feel more confident about investing than I was before. Anyone who is mildly interested in this book should take the time to read it!

[Lindsay · Rating 3 out of 5]

Lots of solid advice, but really alienated me with the assumption that all of the readers were passive wives who were scared to talk about finance with their husbands who manage the household investments.