Byron's Reviews > I Will Teach You To Be Rich

I Will Teach You To Be Rich by Ramit Sethi
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Apr 23, 2012

really liked it
Read from April 01 to 23, 2012

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 goes into investments, some of it pays off the balance on your credit card, so on and so forth. I Will Teach You to Be Rich shows you how exactly to set up such a system. It even has a script you can read from when you call the bank to dispute an overdraft fee, because you only keep enough money in your checking account (which doesn't pay shit in interest) to meet your bare minimum financial obligations, and apparently that's how you get rich, by squeezing every last bit of investment potential out of your money like blood from a stone. Never mind the fact that people who had all of their retirement money in stocks are now borderline homeless and will die before they can retire. Gambling with money just seems like a bad idea to you because you don't have what it takes to be a smart investor. Buy low and sell high!
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