Simple Wisdom for Rich Living
A Money Book Summary

Simple Wisdom for Rich Living, by Oseola McCarty, 80 pp.

The problem: People whining about how hard it is to get a decent job and how impossible it is to save any money.

The cure: Introduce them to Oseola McCarty.

Oseola had to quit school at age twelve to care for a sick aunt. Rather than seek welfare, she went to work washing clothes. She did it the old fashioned way - build a fire under the wash pot, then soak, wash and boil a load of clothes. Rub, wrench, starch, hang them out to dry.

She loved her work, and worked hard at what she loved. She lived simply, so that each month she saved and invested some of her earnings. Nobody noticed her until arthritis forced her into retirement. But the world took notice when the University of Southern Mississippi received a gift of $150,000 from an obscure clothes-washer named Oseola. She wanted to give others the chance for an education that she never had. She gave additional money to her church and family. During her lifetime, she'd amassed over a quarter of a million dollars - $280,000 to be more exact.

She didn't need fame to give her self-worth, contentment or happiness. But the masses longed to hear her wisdom. At age 86, she became a jet-setting celebrity, getting interviewed on ABC, CNN, NBC, BET, and MTV. But fame never changed her. The basic principles she'd lived by throughout her working years continued to serve her well through her final years.

Get this book. Read it. Re-read it periodically. Give copies away as gifts. It's a great anti-dote to the current spending disorders that cause such heartache in American culture.

Oseola's Wisdom:

1. Work Hard

"Hard work gives life meaning. Everyone needs to work hard at something to feel good about themselves." (p. 5)

"I loved to work...." (p. 6)

"Work is a blessing. As long as I am living, I want to be working at something." (p. 8)

"I was working to have my own things.... A sense of ownership was my satisfaction." (p. 6)

2. Save and Invest

"She found ways to save a few dollars here and there, and rather than spending them, she had the discipline to put them to work for her in savings accounts." - Paul Laughlin, Oseola's banker. (pp. 15,16)

"Every month I'd save the same and put it away. I was consistent." (p. 17)

"The secret to building a fortune is compounding interest. It's not the ones that make the big money, but the ones who know how to save who get ahead. You've got to leave your investment alone long enough for it to increase." (p. 18)

3. Learn Contentment

"...I think my secret was contentment. I was happy with what I had." (p. 19)

4. Don't Make Payments on Credit Cards

"I save up my money until I can buy something outright." (p. 20)

5. Trust and Serve God

"You have to accept God the best way you know how and then He'll show Himself to you." (p. 37)

"I think the way we live matters, not just for now but for always. There is an eternal side to everything you do. You can't lead just any kind of life and enter heaven." (p. 38)

6. Prioritize People

"Family is the greatest blessing in this life." (p. 50)

"It is important to make special memories with the people you love." (p. 52)

7. On Giving

"My only regret is that I didn't have more to give." (p. 75)

Click for More Money Book Summaries

Simple Wisdom for Rich Living, by Oseola McCarty, Book Summary

Personal Money Management Home Book Summaries Making Money Saving Money
Investing Money Enjoying Money

Simple Wisdom for Rich Living A Money Book Summary

Simple Wisdom for Rich Living
A Money Book Summary