Book Review: Smart Cookies' Investment Guide
On the one hand, the timing couldn’t be better for The Smart Cookies’ Guide to Making More Dough: How Five Young Women Got Smart, Formed a Money Group, and Took Control of Their Finances , which came out this week. Don’t we all want to be smart about money, now more than ever?
On the other hand, with Wall Street imploding, the timing couldn’t be worse. In this climate, it’s hard to swallow some of the book’s claims – for example, how after becoming a smart cookie, “You’ll know how to increase your income now and how to buy a house that’s not just a home but a real moneymaking investment.”
Together, the smart cookies have invested $1 million in real estate. They do say, “Sure the market is not the same today as it was when we bought our homes a few years ago, but over the long term, housing values have historically increased.” True, but one hell of a bubble has burst in the past couple of years.
Did you hear about the stock market dropping 778 points on Monday? That may cast a little shadow over Chapter 7: “Watch Your Dough Rise: Everything You Need to Know about Investing.” Just saying.
Not that the book isn’t a good idea. The five authors formed their money group after being inspired by an episode of…wait for it…Oprah and improved their financial lives significantly. The book has excellent basic information on topics like credit card interest, 401(k)s, Roth IRAs and FICO scores that would be helpful to anyone who needs a crash course in getting healthy financially. And that includes men . However, they may be put off by the Sex and the City references and the idea that “investments are like clothes.”
– Cathy Matusow
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