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Few people dream of working hard for a paycheck until they drop dead. Instead, most hope to one day be able to slip away from the workforce and enjoy their golden years with some form of financial security. Yet many adults are far away from the goal of having enough money to sustain them when the time comes to retire. Demographically, women are the most vulnerable to economic troubles for a wide range of reasons which is why the author has written this helpful guide primarily for them. However, most of the excellent advice Dinkins offers applies to anyone who wishes to tame the money monster in their lives and adequately prepare for the future.
Dinkins begins by outlining some of the unique challenges women may face over the course of their lives and then starts to detail how these can be overcome. A vital tool in the process is learning how to develop a realistic budget that is proactive rather than simply reactive. This requires an honest evaluation of how one normally spends a monthly income by tracking expenses and then making some tough decisions. For example, Dinkins shares how she discovered she was spending over $900 annually on green tea lattes at Starbucks. By investing that money at a rate of six percent she could bank over $81,000 over a 30-year period! At the heart of the book, though, is her practical system of four "money buckets" which can help make long-term financial stability a reality.
Throughout her well-written and engaging book, Dinkins uses her experience as a financial advisor to clear up monetary misconceptions and demonstrate how almost anyone with enough hard work and smart planning can retire financially secure. Invaluable and insightful, this is a guide not to be missed.
RECOMMENDED by the USR