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8th out of 56 books
—
105 voters
I Will Teach You to Be Rich
by
Ramit Sethi
At last, for a generation that's materially ambitious yet financially clueless comes "I Will Teach You To Be Rich," Ramit Sethi's 6-week personal finance program for 20-to-35-year-olds. A completely practical approach delivered with a nonjudgmental style that makes readers want to do what Sethi says, it is based around the four pillars of personal finance-- banking, saving...more
Paperback, 266 pages
Published
March 23rd 2009
by Workman Publishing
(first published January 1st 2009)
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Apr 09, 2011
Chad Warner
rated it
5 of 5 stars
Recommended to Chad by:
StartupNation
Shelves:
finance,
non-fiction
This is definitely the best personal finance book I've read so far. It's a logical, step-by-step, practical handbook for financial success, specially written for twenty-somethings. It was better than the personal finance books I've read by Eric Tyson, Andrew Tobias, Dave Ramsey, Suze Orman, and Robert Kiyosaki. See my Finance shelf on Goodreads for my reviews of those books.
Sethi gives advice on “automatically enabling yourself to save, invest, and spend - enjoying it, not feeling guilty...becau...more
Sethi gives advice on “automatically enabling yourself to save, invest, and spend - enjoying it, not feeling guilty...becau...more
Let me preface my review by first saying that I love Ramit. I've been reading his blog for over 2 years, and so it isn't surprising that I would thoroughly endorse his book.
Ramit has a very straight forward approach to personal finance. His writing is geared toward 20/30-somethings early in their careers, but his principles can be applied to anyone. The premise is simple: you need to spend less than you make ... you need to make decisions about where you are going to spend your money (conscious...more
Ramit has a very straight forward approach to personal finance. His writing is geared toward 20/30-somethings early in their careers, but his principles can be applied to anyone. The premise is simple: you need to spend less than you make ... you need to make decisions about where you are going to spend your money (conscious...more
I like Ramit's style. Personal finance can be a boring topic, but Ramit spices it up with Indian flavor (which he does refer to in print!). He addresses his mom, tells anecdotes about his friends spending thousands of dollars on shoes, and keeps the topic light while dropping knowledge on you.
Having already read The Wealthy Barber and constructed my own budget, I was already familiar with the basics of personal finance going into this book. However, what I really liked were his specific pieces o...more
Having already read The Wealthy Barber and constructed my own budget, I was already familiar with the basics of personal finance going into this book. However, what I really liked were his specific pieces o...more
While I don’t agree with everything he said, I do agree with some of the things he talks about. I personally found the investment chapters worth reading as I didn’t know very much and he lined out what my options were and explained what they were in a clear and fun way. The entire thing about using a credit card for everything to get points and other “benefits” doesn’t quite work for me, but it may for him. I don’t know anybody who has ever gotten rich because they received points from credit ca...more
I tried summarizing the main things to learn at:
http://docs.google.com/View?id=dfp2hx...
I've pasted the most important bits below, but for a lot more (hopefully useful) info, check out the linked doc.
The Overall Gist: This book is about how to manage your money, particularly for young people (20's). It's about the 85% solution: most young people don't manage their money because they believe they have to be experts, but what actually matters is getting started NOW, even it's only 85% right.
6-Week...more
http://docs.google.com/View?id=dfp2hx...
I've pasted the most important bits below, but for a lot more (hopefully useful) info, check out the linked doc.
The Overall Gist: This book is about how to manage your money, particularly for young people (20's). It's about the 85% solution: most young people don't manage their money because they believe they have to be experts, but what actually matters is getting started NOW, even it's only 85% right.
6-Week...more
2 likes · like · see review
In one chapter, this book briefly describes a girl that spends $5,000/year on shoes. Since it's a book on being rich, I figured she *must* be rich in order to waste that much money on shoes. But no, her annual income is about half mine. She's able to do this because she decided that "$5,000/year on shoes" was her own personal definition of "rich" and she oriented her life around that decision.
That's all this book is: deciding for yourself what it means to be rich and acting on it. Everything's b...more
That's all this book is: deciding for yourself what it means to be rich and acting on it. Everything's b...more
Apr 07, 2009
Anotherjesse
rated it
2 of 5 stars
Recommends it for:
people who haven't gotten their financials in order
The author is a co-founder of PBWiki. Having known David (other co-founder of PBWiki) since moving to the bay area, I decided it was worth taking a chance on this book.
Overall it was disappointing. Most chapters had as much information as a good blog post. He spent too much time repeating himself and making stupid jokes. I give it 1 star on style. I wish Gini Trapini had written it.
The actual content is good. Anyone who doesn't have a good financial system in place should read it. The actual in...more
Overall it was disappointing. Most chapters had as much information as a good blog post. He spent too much time repeating himself and making stupid jokes. I give it 1 star on style. I wish Gini Trapini had written it.
The actual content is good. Anyone who doesn't have a good financial system in place should read it. The actual in...more
Jan 04, 2013
Caitlin
rated it
4 of 5 stars
·
review of another edition
Recommends it for:
young adults, anyone keen to get their finances in order
Shelves:
finance
Well, this is a great book. The first caveat though, before you rush out and buy it, is to read Ramit's blog for a little while first. He has a... unique writing style and while he's an excellent writer and the book is eminently readable, he can be a little confronting at times and if you're not comfortable with his style, you might be better off with a different book.
That said, the book is eminently readable - I basically read the whole thing in about 3 days - and both interesting and enjoyable...more
That said, the book is eminently readable - I basically read the whole thing in about 3 days - and both interesting and enjoyable...more
If you're in your twenties or early thirties, read this book right now! You will benefit most from Ramit's approach. If you're older, still read it because there is lots of sound financial advice within.
I really like his approach to focus on the big wins. It's not about skipping lattes but rather saving thousands on your car and house, eliminating credit card and bank fees, negotiating for higher starting salaries, and investing early and easily. Also he encourages conscious spending, knowing wh...more
I really like his approach to focus on the big wins. It's not about skipping lattes but rather saving thousands on your car and house, eliminating credit card and bank fees, negotiating for higher starting salaries, and investing early and easily. Also he encourages conscious spending, knowing wh...more
Ramit has some good points in this book. I liked his no-BS approach and I found his points about automating finances worthwhile, if it didn't exactly give me new information. I found the section about investing to provide helpful information about index funds, which I had wondered about. He is right on the money about saving up for weddings/homes too, which somehow people just expect to pull massive amounts of money together for, on a whim. Excellent points, all.
That said, I really dislike this...more
That said, I really dislike this...more
This is a definite must-read for pretty much everyone in America, especially for 20-somethings.
When I picked up the book it intrigued me, however I was wary because there is indeed a market for self-help books that don't really live up to their name and this seemed like it would be one of them. But! Don't judge a book by its cover, as they say. I was getting ready to put this back on the shelf when I saw an endorsement on the back for it by Burton G. Malkiel, author of A Random Walk Down Wall St...more
When I picked up the book it intrigued me, however I was wary because there is indeed a market for self-help books that don't really live up to their name and this seemed like it would be one of them. But! Don't judge a book by its cover, as they say. I was getting ready to put this back on the shelf when I saw an endorsement on the back for it by Burton G. Malkiel, author of A Random Walk Down Wall St...more
After reading a lot of these books, a friend handed me this one and I thought, why not. I found myself a bit embarrassed by the title, but upon reading it I realized I'm exactly where I need to be. This book tells you what you already know and probably aren't doing. Thanks to another book, I started doing 90% of what this book tells you to do - about 2 years ago. The downside is I don't think this author explains it all nearly as much as other (better) books. Granted, this is targeting 20somethi...more
I'll start by saying this book wasn't intended for anyone over 35...the author has some very funny and fairly insulting comments about older people. Having said that though, this should be required reading for everyone starting out in their careers and older readers can find some real value as well. Financial books are so often like diet books: generic advice about saving more than you spend (duh), about getting out of debt (another duh), and so on. This book on the other hand is refreshingly sp...more
One of the best books I've ever read on personal/financial development. The only downside to reading this book is wishing that you could have read it earlier in life. Ramit Sethi has a very humorous way of writing that appeals to his audience of a mostly younger crowd. He's as brash as a New York Times Bestseller is allowed to be, but if you really want to hear his opinions in full force you can check out his blog of the same name.
Everything is laid out and explained in a simple easy to follow...more
Everything is laid out and explained in a simple easy to follow...more
Bypassing the endless terms, rules, and complications that overwhelm people into not taking action; Ramit Sethi explains personal finance simply and concisely while providing clear steps of action to create a system to make your money move and grow automatically; optimizing your credit, escaping from institutions that keep your money from growing, connecting electronic accounts and automating them, learning to spend money based on your personal values, and saving/investing for the present as wel...more
The great peaces of advice in this book are only outweight by the huge authors ego. The average concentration of 'I' and self-references per sentence is huuuuge. The author uses his young age as an advantage and at the same time teaches us about 30 years long investments etc! I mean he has probably read a lot, but he doesn't have own experience to talk about it and, more importantly, convince others. Another thing - the book is about USA and lots of stuff is not applicable to Australia, for exam...more
What I liked about this book is the many times it made me stop reading and research on how I could make the things he said applicable to someone not living in the US. I skimmed through the 401k and IRA portions. No lifecycle funds where I live either. But the book made me look into investment accounts that are available here.
Of particular to me is the portion on automating savings and investments. This used to be something I only wonder about on the top of my head but they remained just thoughts...more
Of particular to me is the portion on automating savings and investments. This used to be something I only wonder about on the top of my head but they remained just thoughts...more
Aside from the fact that the writing style is a tad obnoxious, the book itself contains a good amount of useful information. His 85% argument (that it is better to proceed with 85% of what is necessary than to remain inert until all pieces are fully assembled) is compelling, and his information about personal financial automation is great for people savvy enough to implement. Some of his advice is well documented in other places (debt avalanche, Roth IRA vs 401(k), buying vs leasing cars, etc.)...more
There's a lot of financial hokum out there and because we treat money management and financial matters as a taboo subject people never get sound advice. Moreover, financial management comes from our parents more often than it comes from school or society. Ramit takes this one step further and demonstrates how absurdly moronic it is to ignore your financial well being because you are scared, uninformed or intimidated. He walks people through six very easy, very basic steps to peace of mind and st...more
I'll admit that I haven't read every single word of Ramit Sethi's I Will Teach You to be Rich (yet) but I think it's already saved us thousands of dollars. It's the perfect book for twentysomethings who want a head start of their peers in being smart with money (or even for thirtysomethings like us who have been in school forever and putting off adult sorts of things like investing and saving). Sethi takes readers through the steps of getting out of debt, finding the right credit cards and bank...more
Don't let my star rating mislead you. You should read this book. The advice is very good and clear.
I just can't honestly say I loved it, because I found the author's examples of what it means to be rich (repeated references to being fed grapes, etc, by lovely younger women) to be off-putting. Also, the layout is terrible. The flow of chapters are continually interrupted by smaller stand-alone sections, which should have been better placed so you wouldn't have to choose between interrupting the...more
I just can't honestly say I loved it, because I found the author's examples of what it means to be rich (repeated references to being fed grapes, etc, by lovely younger women) to be off-putting. Also, the layout is terrible. The flow of chapters are continually interrupted by smaller stand-alone sections, which should have been better placed so you wouldn't have to choose between interrupting the...more
Probably the last book I'll ever read on personal finance, in part because it tells you more or less everything you need to know, and mostly because I don't have any use for that kind of advice, because I don't have any money. The gist of it is that you should use technology to automate your money management, so you don't have to sweat whether or not you've got all of your bases covered, so to speak. Your check, if you have a check, hits your account, some of it goes into savings, some of it goe...more
The plan that Ramit puts forth in I Will Teach You To Be Rich boils down to one idea: automate everything. If you set your finances up according to the plan, you will spend less than an hour a month checking up on them and making sure everything is humming along, all the while working toward your goals.
To be honest I skimmed quite a bit of it because I already have a financial system that works for me. It's a lot more manual, but then I think back to when I didn't have complete control over ever...more
To be honest I skimmed quite a bit of it because I already have a financial system that works for me. It's a lot more manual, but then I think back to when I didn't have complete control over ever...more
Wow I liked this book. It was an easy to read book that was direct and to the point with tangible steps that one should take as a young adult in their 20s. I read several reviews that did not like the tone of the author, but it didn't really bother me. Yah...he does kind of yell at people and seem snarky and a know-it-all, but I think he acknowledges that and makes fun of himself through the novel too. Before reading this book, I didn't think too much about my personal finances, and now I have a...more
Coming from someone who's been intuitively saving for years, with no real plan, this is the best book on saving/investing I've read! Definitely suited for 20-to-30-somethings who are just getting started, and who are interested in creating a sensible, long-term financial plan. He helps you set up an automated savings plans that links your savings, investment, debt-payment and free spending goals. It's not incredibly revolutionary information, but it's how he pieces everything together and create...more
This book is for a very specific audience: young, college-educated professionals who have the basics of financial literacy but need a little more guidance. Sethi's antagonistic writing style may turn some people away, but it is not boring. I personally dig that he's not afraid to be a jerk in getting his points across. It makes a nice companion to Suze Orman's The Money Book for the Young, Fabulous & Broke. Orman hits a more 'cool aunt' vibe and gives more background information, while Sethi...more
I was curious about Ramit.
I don't love everything about what he's doing, but I think he's a Challenger Sale kind of blogger. He knows what he knows, and he's mostly right.
I've been following Dave Ramsey - and what I can say is this book beats the crap out of dave.
The basic message behind Dave's stuff is this: you're stupid, spending is stupid, and you should feel guilty every time you spend a little money that's not perfectly planned. Oh, and you have to eat crap food and drive a clunker if you...more
I don't love everything about what he's doing, but I think he's a Challenger Sale kind of blogger. He knows what he knows, and he's mostly right.
I've been following Dave Ramsey - and what I can say is this book beats the crap out of dave.
The basic message behind Dave's stuff is this: you're stupid, spending is stupid, and you should feel guilty every time you spend a little money that's not perfectly planned. Oh, and you have to eat crap food and drive a clunker if you...more
I've read Ramit's blog for quite a while, so when I saw this book on Amazon I bought it in an impulse.
The style of the book makes it very easy to read and overall it gives a nice background information about personal finance. Ramit's hints are helpful, but not all of them are applicable for people in Europe. A lot of them are common sense although it's not bad to get pointed in the right direction again. I don't believe many people will follow the steps in the book, but it can serve as a handy g...more
The style of the book makes it very easy to read and overall it gives a nice background information about personal finance. Ramit's hints are helpful, but not all of them are applicable for people in Europe. A lot of them are common sense although it's not bad to get pointed in the right direction again. I don't believe many people will follow the steps in the book, but it can serve as a handy g...more
This is a great book to buy for any friends or relatives that is just getting out of college. Ramit does not teach you how to be rich quick and easy, but he does teach you how to manage your finance, which is something any fresh out of college 20-something will need.
I give this a five star for the motivational/inspirational tone he wrote in and in the fact that he does not confuse or scare off people by boggling their mind with fancy financial terms. Good examples were also given in the book. M...more
I give this a five star for the motivational/inspirational tone he wrote in and in the fact that he does not confuse or scare off people by boggling their mind with fancy financial terms. Good examples were also given in the book. M...more
Mar 26, 2012
Amy
rated it
4 of 5 stars
Recommends it for:
anyone who wants more info on creating wealth
I enjoyed this book, but sometimes I felt like he lives in a much different 'reality' than I do (and, therefore, most people I know). I think there are good parts of the book, though. It is one of the best and easiest to read financial books I've come across in a long while, so 4 stars it is!
I wish that I would have had some this information long before now, but a lot of it was helpful for the future. I found the discussion about investments very helpful (and interesting!) because I didn't know...more
I wish that I would have had some this information long before now, but a lot of it was helpful for the future. I found the discussion about investments very helpful (and interesting!) because I didn't know...more
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Ramit Sethi is New York Times best-selling author of I Will Teach You To Be Rich. His blog, iwillteachyoutoberich.com, hosts over 300,000 readers every month. He co-founded PBwiki and graduated from Stanford, where he studied technology and psychology. He lives in San Francisco, CA.
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Mar 16, 2010 03:10am