About Rich Mom
Hi! I’m “Rich Mom.” I am the mother of a young adult. I would like the younger generations to have financial freedom, and therefore more choices in life. So, I started writing letters to my daughter to teach her financial literacy and share ideas on how to make money, save money, manage money, invest money, and in general, understand money. In my Rich Mom, Poor Kid blog, I am sharing the exact financial ideas that I am passing on to my daughter (aka “Poor Kid.”)
Fun Fact: I love to travel. I have lived in or traveled to at least 12 countries. When I was younger, and traveling in other countries, I kept being mistaken for Diana Ross or Donna Summer… at least 5 times. This had me laughing, since I don’t think that I look a bit like either. Also, I don’t think that they resemble each other! To top it off, I can’t sing! That is definitely not a talent that I possess.)
My Talent
What is my talent? I am great at handling finances! Broadly, I am an educator, with a very diverse work background (including business and real estate.) I have a bachelor’s degree in business. I also have majors in economics and education, and a masters degree. But no matter what job I’ve had, I’ve always kept an eye on my financial health (either directly or indirectly.) As a result, after recently stormy financial situations (to say the least), I was able to weather them.
Several people have asked me about how I was able to “keep afloat financially. The answer…financial planning that was based on financial literacy. I started my interest in finances while in elementary school. So, I have a long history with this topic. But don’t get me wrong, I have made mistakes along the way. One mistake was purchasing stock in a company that later went bankrupt, meaning I lost my money. (Can you say KMart?) But I did not give up on investing (or myself.) As an example of an investing success, I bought a stock at $27 a share, that went as high as $700 a share. (It’s Idexx. At the time of my writing this, It’s $551 a share.)
In 2024, I became a Volunteer Income tax Assistance (VITA) IRS-certified tax preparer (advanced exam), and an IRS-certified VITA Site Coordinator.
Overall
Overall, my finances have continued to get better and better over time. In fact, my interest in money led me to get a job in a credit union.
Now, I have come to a point in which I want to pass something on to my daughter. However, I am not talking about giving her money. I am talking about “know how.” My goal is to pass financial literacy on to her, so that she will “know how” to manage her finances and work toward financial confidence…hence the start of Rich Mom, Poor Kid.
My goal is for my daughter to know that she has the skills to make the money she needs and manage it. So, in effect, I am her financial planner. Rich Mom Poor Kid is my way of sharing information with my daughter in a way that is recorded (so that she can return to it again and again), and in a way that can benefit others, also. It is intended to encourage and inspire her and others to form a better relationship with money.
* My information is not to be taken as financial advice. While I do have experience working in a credit union, I am not a professional financial adviser. Everything that I share is for inspiration, information, and entertainment purposes. Also, I am sharing information about my journey and what I am sharing with my daughter. I am not trying to flex. Financial guru is not what I am calling myself. I am simply sharing my journey and what I have learned and experienced.