I Will Teach You to Be Rich: No Guilt. No Excuses. No B.S. Just a 6-Week Program That Works.

by Ramit Sethi

if your stock’s share price has plummeted, but the share prices of other companies in the industry are high, then consider selling.

I want to emphasize that I almost never have to sell investments, because I rarely make specific stock investments.

Remember, if your goal is less than five years away, you should set up a savings goal in your savings account. But if you’ve invested money for a longer-term goal that you’ve achieved, sell and don’t think twice.

You won the game. Now it just takes time, patience, and feeding the system.

The next layer of a Rich Life isn’t about recalculating your returns from compound interest. It’s about designing the lifestyle you want.

For me, a Rich Life is about freedom—it’s about not having to think about money all the time and being able to travel and work on the things that interest me.

When you invest in your twenties and early thirties, you get huge benefits from compound interest.

the most complex—and rewarding—parts of a Rich Life.

Ignore the noise. Remember, investing shouldn’t be dramatic or even fun—it should be methodical, calm, and as fun as watching grass grow.

Log in to your investment account no more than once a month—that’s it.

You’re investing for the long term, and when you look back, day-to-day changes will seem like minor blips—which they are.

For me, money represents hard work and luck. It also represents the opportunity to design our Rich Life—together.

Fundamentally, there are two ways to get more money. You can earn more or you can spend less.

Cutting costs is great, but I personally find increasing earnings to be a lot more fun.

In fact, negotiating your salary at a new job is the fastest legal way to make money.

Negotiating is 90 percent about mindset and 10 percent about tactics.

If you negotiate, you explicitly communicate that you value yourself more highly than the average employee.

“Let’s find a way to arrive at a fair number that works for both of us.”

because top performers always want more, as it aligns them with the company’s goals.

Negotiation is about finding a cooperative solution to creating a fair package that will work for both of you.

Negotiating tactic: Smile. Really, do it.

Never lie. Don’t say you have another offer when you don’t. Don’t inflate your current salary. Don’t promise things you can’t deliver. You should always be truthful in negotiations.

Getting rich isn’t about one silver bullet or secret strategy. It happens through regular, boring, disciplined action.

Instead, understand how much you can afford, pick a reliable car, maintain it well, and drive it for as long as humanly possible.

Budgeting, Picking a Car, Negotiating Like an Indian, and Maintaining Your Car.

First, any car you evaluate must fit within your budget. This will eliminate most cars automatically. Do not even look at cars you can’t afford.

The bottom line here: Buy only if you’re planning to live in the same place for ten years or more.

buying a house can be a great way to make a significant purchase, build equity, and create a stable place to raise a family.

over time, investing in the stock market has trumped real estate quite handily—which is why renting can be a great decision. I rent by choice!

If I could hope for one thing from this book, it would be that you become a master of conscious spending—and then apply those skills to helping those around you.