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I Will Teach You to Be Rich

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4.02 of 5 stars 4.02  ·  rating details  ·  7,243 ratings  ·  561 reviews
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
ebook, 274 pages
Published August 26th 2014 by Workman Publishing (first published January 1st 2009)
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Chad Warner
Apr 09, 2011 Chad Warner rated it 5 of 5 stars  ·  review of another edition
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
Dustin Taylor
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
Jason
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
Jean-Luc
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
Jamie
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
Emily Whetstone
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
Alex Pyatetsky
I've never wanted to give a book 2 stars so badly. As a warm blooded, heterosexual male - the obnoxiousness and irrelevance of Ramit's frequent fratboy asides is really grating. I'm sure he has some kind of "gotta break some eggs to make an omelette" rationale, but buyer beware. You're going to read some shit that sounds like Tucker Max, minus the funny.

THAT SAID - I gave the book 4 stars.

Why? If you don't have your finances in order, Ramit gives you a clear, actionable plan on what to do, what
...more
Anotherjesse
Apr 07, 2009 Anotherjesse rated it 2 of 5 stars  ·  review of another edition
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
Brian
"The single most important factor to getting rich is getting started, not being the smartest person in the room." Kindle location 169

This should be required reading for everyone (especially young adults) who feels unsure about their financial direction. The author lets you define what rich is to you, maybe being out of debt brings a richness to your life and subtracts stress, and therefore you are satisfied, rich as he might say. Its not all about buying a plane or yacht, but if those are your g
...more
Eric
This is a great personal finance book for people in their 20's. It teaches simple lessons on how to apply personal finance in the internet age. I love how relevant the book is to my life, and my finances. Moreover, it was comforting to find out that I had already implemented several of the author's suggestions. Great read.
Zachariah
I've casually studied personal finance for years, and this book really sums it up. It's the perfect book for young 20 and 30 somethings, both the content and the sometimes sassy tone :).

I WIll Teach You To Be Rich is the no-bullshit, no-hype, fundamentals of personal finance, from how to manage your money and debt, how to choose banking and credit accounts, how to save for retirement, how to invest, how to negotiate, and a lot of great tips in between (like most credit cards extend electronic wa
...more
Lyn
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
Chris Johnson
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
Rob
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
Mike
I've been following Ramit's blog for a long time and this book had been on my "to read" pile for a long time. I'm definitely glad I finally read it. There is a TON of really great information in it. A lot of it was familiar, from reading the blog, but it was very well structured and "all in one place". I would definitely recommend it, particularly for readers that are just starting out in life. It would make a really amazing graduation gift.
Amy
Mar 26, 2012 Amy rated it 4 of 5 stars  ·  review of another edition
Recommends it for: anyone who wants more info on creating wealth
Shelves: 2012, kindle, nonfiction
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
Jesse
I'll keep this short and sweet: absolutely everyone should read this. High school kids should read this. My mom should read this. You should read this. It's the best book on personal finance I've ever read. Step by step instructions on exactly how to get your financial life in order. I read this years ago and it paved the way for me to eliminate my credit card debt and start investing. A must-read.
Hamza
Practical program to take charge of your money.
Focused on the american market.
Xian
This would be a fantastic book for someone in their late teens and early twenties to read a couple of times, over the course of their many transitions (e.g., from school to work, living with parents to on their own).

As someone in their mid-thirties, a lot of the information was a rehash from the many other similar books I had read on the topic. Where this one would shine is in the presentation of the material, which is definitely geared toward the younger reader.

To summarize the basic content:
1.
...more
Catherine Gillespie
I enjoy personal finance books and thought Ramit Sethi’s contribution to the genre, I Will Teach You To Be Rich, was funny and well thought out.

If you’ve read other personal finance books, the ideas in this one probably won’t be all that new to you, but Sethi’s presentation, as well as his perspective writing to younger readers, is helpful. I found myself making notes of things that I know I should be doing (like setting up sub-accounts in our ING savings account for different savings goals) but
...more
Doug Kerwin
Oops, did I just buy a beginners personal finance book? That's what I was thinking just a few pages into this book. I heard about Ramit Sethi and this book from a podcast with Noah Kagan and bought it without really reading much of what it was about. As the book started out with the basics of getting your first credit card, selecting a proper bank account, etc. I thought I had made a mistake and almost stopped reading. But I forged ahead anyway as at least Ramit has an entertaining personality. ...more
Matthew Hines
I first read this book several years ago, and to this day I remember being impressed by Ramit's financial advice. As he says, this is NOT your parent's financial planning book. The advice contained in here is unlike other books you've read on personal finance.

Ramit focuses not on budgeting, but on systems. He teaches you how to automate paying your bills, making sure all your bases are covered on your savings, your IRA/401(k), and health insurance. He shows how advantageous it is to have most o
...more
Ravi Shrivastava
Loved the audiobook; very good tips - just make sure you have pen handy

So... I have subscribed to Ramit's blog for a while now and find his take on things rather pragmatic & sensible. so its no wonder that I finally ended up listening to this books.

It is a great book and I am really happy that Ramit denounces ineffective cost saving measures (read: not buying lattes or saving on groceries by growing your own vegetables) right off the bat.

I think that the fact that he did the voice for the bo
...more
Wes
Can't recommend this one enough, and the younger you are the sooner you need to read it because you can make (and save) some *serious* coin for yourself in the next few decades if you learn some of the basic lessons that are laid out in this book.

There's nothing really groundbreaking in here (honestly, if your parents were solid with money and they passed some essentials on to you you've probably internalized most of this already) but that's sort of the point, these are everyday lessons that mo
...more
Marcel
It's hard to take what this guy says seriously after reading the Millionaire Fastlane and living a lifestyle congruent with that book. My suggestion would be to read that first and then pass on this one rather than wasting your time. Go out there and create some value instead of rolling in the slowlane like Ramit suggests! I will teach you to be rich? More like, I will get rich from selling you this book while you stay poor making marginal gains on shitty investments.
Jon
I was initially skeptical of personal finance books, but I was pleasantly surprised by this one. A perfect read for the early-to-mid 20s professional just starting to settle into their career. Highly recommended for this age group, but very relevant for others in the periphery of this sweet spot as well.
Jamie
While I don't agree with every suggestion Sethi makes, I do agree with his central advice:

1) determine what is important to you and set specific goals for your money;
2) get your personal financial system set up and automate as much as possible;
3) be frugal (that is, spend on what's important to you (if you can) but don't spend on the things that aren't);
4) above and beyond, systematically work on getting out of debt with realistic monthly goals.

There's a few key words that stand out here: s
...more
Marleah
This book was a good introduction into the world of investing. It's always been a mystery to me - my family was big on having a savings account, but retirement savings and investments, not so much. This book is aimed at twenty- and thirty-somethings, mostly single and without families. I am still twenty-something, but I've been married for almost 10 years and have a young daughter, so I'm not exactly the target audience. That being said, I learned a lot about what I could be doing to grow my wea ...more
Kunal
A terrible title for an excellent book. Sethi's thesis is that it seems that we're overloaded with financial "information", which prevents us from simply getting started. But, doing anything is better than doing nothing! In this book, he cuts the bullshit and gives a step-by-step plan to get to the "85% solution". At the same time, he sets up the reader to do more research to get to 100%.

This book was a boon to a financially clueless person like me. It walks through getting good credit cards and
...more
John Constable
Bit behind blogging this, but catching up..

I didn't buy this for ages on Audible because I thought it might be better on Kindle - to keep notes on the tips etc - and because I am never sure about self help finance books - I always have the suspicion that the person they aim to make rich is the author (and if he's so rich, why write a book?).

Anyway, I was due my next read with my subscription and with a lack of other things grabbing my fancy, I decided to give this a try, and am glad I did.
Its t
...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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“The 85 Percent Solution: Getting started is more important than becoming an expert.” 0 likes
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