MONEY-fax.com Book Review: Rich as a King
by A.K. Klemm, for MONEY-fax.com
Twice a month, MONEY-fax.com chooses a book about an aspect of personal finance that impacts your bottom line or your future, and reviews it for our readers. This time, we’ve read and reviewed Rich as a King by Grandmaster Susan Polgar and Douglas Goldstein, CFP.
A lot of people invest in stocks. A lot of people play chess. But not many people do either one well. Financial advisor Douglas Goldstein combines forces with Grandmaster chess player Susan Polgar in a cleverly fun book about investing in Rich as a King. Utilizing tactics and strategy developed in Polgar’s years of training for chess tournaments, Goldstein has taken those principles at their core and is showing the public how to use the same skill set to your financial advantage.
So wholly committed to the idea that chess playing techniques and work ethics can apply to every aspect of your life, first and foremost financial, the authors and publisher are donating 10% of their income from book sales to the Susan Polgar Foundation. This foundation’s specific mission is to “promote chess, with all its education, social, and competitive benefits, throughout the United States, for young people of all ages…”
Complete with action points highlighted by a spunky Knight piece holding a notepad, chessboard diagrams from actual games Polgar played, as well as all the stepping stones to developing a sound budget, saving ethic, and stock purchasing plan, Goldstein and Polgar have created a unique but practical way to redefine your financial thinking.
Tips like “Keep your eye on the goal of gaining the initiative and keeping it,” are easily applied to both chess and the stock market. The authors will tell you how the idea is useful in chess and explain the importance of the concept, then show you how to continue utilizing this skill when you are dealing with your money. The connections are smooth and effortless, and reading tidbits from Polgar’s chess career and upbringing makes the read enjoyable. Polgar’s experience with goal setting is incredible and my favorite anecdote from her was in regards to her homeschooling and how she learned to focus.
“What tempted you to read this book? Maybe the snazzy cover and intriguing chess/ money metaphor grabbed your attention. But ultimately, you wanted to learn the skill needed to reach your goals.” And this authoring duo teaches well. Within the pages of the book there are also icons to signal where you can find many free online tools and videos. The reading experience as a whole is visually appealing and highly interactive.