Amanda Holden, a former investment manager who left the finance world disillusioned, has returned with a mission to help others, particularly women, achieve financial independence. Her book, How to be a Rich Old Lady, offers a roadmap to financial literacy while critiquing capitalism's inequalities.
From Finance Bro to Financial Educator
Holden landed a six-figure job in investment management right out of college but quit after five years, feeling drained by the toxic environment. However, she soon realized her passion for teaching personal finance, especially to women who feel excluded from the financial world. Her blog-turned-online course, Invested Development, has reached over 25,000 students.
Investing in a Flawed System
Holden acknowledges the ethical dilemmas of investing under capitalism but argues that participation is necessary. She advises using index funds, particularly ESG funds that screen out fossil fuels and weapons, while also switching to community credit unions to support local economies.
Key Takeaways from Amanda Holden
- Invest in broad index funds: Avoid expensive money managers who often underperform the market.
- Talk about money: Discuss finances with friends to learn and support each other.
- Switch to a credit union: Your deposits will fund local loans instead of billionaire ventures.
- Be kind to yourself: Don't let the system break you—financial security is about freedom, not perfection.
Activism and Financial Independence
Holden sees her activism—protesting against ICE and the war in Gaza—as intertwined with her financial work. Financial security allows her to take risks and speak out, even at the cost of losing followers and business relationships. She emphasizes that community is her most durable investment.
For those starting late on retirement, Holden advises: "Don't let worry stop you. Start now, get educated, and build a clear plan." She also notes that women often make better investors because they are less reactive to market fluctuations.
Holden's worst financial decision? Years of binge drinking, which was costly but also part of her journey. If she lost everything, she would rely on her community—a network built through mutual aid and local involvement.
Ultimately, Holden believes that the goal of money is happiness and the ability to work toward a better world. "Financial independence is what protects me and makes this possible," she says.
