About the Book:
When it comes to money, hope is not a strategy. Toughen up, take action, and keep what's yours!
Have you, like many women, put off organizing your financial life? You know you want independence, you know you want to save, and you know you want a solid retirement. But if you're overwhelmed at the thought of where and how to begin, you're not alone. You may have been raised to defer to others in matters of money, or you may feel you simply lack the understanding of how to take on financial matters. Without the confidence they need, it's easy for women to find themselves in a situation where the only action they feel they can take is hoping that everything will turn out all right in the end. But planning for the future doesn't have to be this way.
Money Confidence is Crystal Oculee's authoritative and engaging reality check and call to action for women of all ages to take--or regain--control of their financial lives. The author shows why hope is not a financial strategy, and how, with the tools and information she provides, women can attain the independence, savings, and secure retirement they want.
The author cleverly employs metaphors from familiar fairy tales to illuminate and accentuate the book's serious message: Women need to toughen up; and they can and need to identify and overcome myths and mind-sets that place them at a disadvantage when it comes to dealing with their money and finding and working with financial advisers.
Oculee shows women how to communicate, be strong, ask questions, and reject advisers who don't take them seriously. Real-life scenarios of various women's experiences with money and advisers prove how women can get the confidence they need once they know what is holding them back. The author presents informative, down-to-earth explanations of common financial situations and specific financial products along with useful worksheets in a conversational and friendly tone with a good dose of sass. Women will find her valuable and easy-to-follow advice rings true.
My Comments:
Ever read a book you thought was good, but to which you had a hard time relating? In Money Confidence Crystal Oculee uses fairy tales to illustrate how women allow others to control the most important thing in their lives--their money. Many are waiting for Prince Charming to rescue them rather than taking things into their own hands and making things go their way.
Investments and the stock market have always fascinated me and I've generally handled the investments at my house, or at least been a well-informed partner when my husband handled them. On the other hand, my intelligent competent mother never fooled with any of that. She didn't have to ask Dad for money--the checkbook was in her purse to use as desired, but she didn't do the taxes or make the investment decisions. Before it became apparent that my mother was going to be the first to die, my dad showed me where all the investment information was and told me that we were going to have to take care of Mom after he was gone (and of course Mom's last words to me were to take care of my dad).
In any case this book reminds us that financial advisers are rarely Prince Charming, and that if one is doing something you don't understand and won't answer your questions, he probably isn't working in your best interest. Oculee suggests that you CAN do it yourself and as one who has fired a financial planner who made more from my account that I did, I agree. Another thing she points out is that while men are generally able to compartmentalize relationships and treat business and professional relationships as straightforward barters, women tend to get emotional. While, in general, men don't feel bad about firing someone who isn't performing, women do. We tend to be more concerned that the needs of others are being met than our own (yup, that's me too), and will make excuses for those who don't perform.
Another chapter discussed 401(k)s and the mistakes people make with them--both men and women. Unlike the old-fashioned pension that was handled by professionals, individuals need to be aware of the investments in their 401(k)s, the amounts of their contributions and what to do when they leave a job.
Oculee works as a financial advisor and she gives tips on how to hire one--the most important being to decide what you want, at least in my opinion. I think that was part of the problem we had with ours--we wanted advice about things that weren't his strengths and didn't need what he was selling.
Finally Oculee spends some time talking about risk and then looking at the major investment choices.
If you are a women who has never taken command of her finances, this book is for you. It is interesting, easy to read and filled with useful information. Grade: B+
a B. It was interesting and readable, however, it was shorter and contained less information than I would expect in a book. 
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