❤ I Will Teach You To Be Rich pdf ⚣ Author Ramit Sethi – Tshirtforums.co.uk



10 thoughts on “I Will Teach You To Be Rich

  1. says:

    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 guiltybecause you re spending only what you have His main point automate your finances so you effortlessly save and invest, leaving you money to spend on things you love without feeling guilty Automatic saving and investing helps overcome psychological barriers and laziness.In addition to his emphasis on automation, I agreed with Sethi s recommendation for long term, passive, buy and hold investing instead of speculative, market timing investing I also liked Sethi s 85 Percent Solution, which states that it s better to act and get it 85% right than to do 0% sometimes good enough is good enough, and it s always better than doing nothing.Another good message is spend extravagantly on the things you love, and cut costs mercilessly on the things you don t That s valuable because everyone defines being rich differently, and it s not all about money Money is just the tool we use to acquire the material possessions and experiences we want That s the difference between being cheap and being frugal being cheap is trying to cut spending on everything, and being frugal is cutting costs on the things you don t care about so that you can splurge on the things you do.I liked the concept of making a Conscious Spending Plan instead of a budget Almost no one actually makes a budget, and even fewer follow it Instead, consciously decide how you ll spend your money I especially like this idea of guilt free spending, because too often the recommendation is to limit all spending But people in their 20s want to live it up, not sit at home and pinch every penny The Conscious Spending Plan lets you spend a certain percentage of your money on whatever you want, without feeling guilty, since you re paying yourself and your bills first.The book is written in the form of a 6 week action plan Each chapter describes the tasks and reasoning behind them, and ends with a checklist of steps to take Here are the weeks Week 1 Credit Cards Check your credit, pick a good credit card, set up automatic payments, pay off debt.Week 2 Bank Accounts Open or assess your checking account, open and fund a high interest savings account.Week 3 Investing Accounts Open a 401 k , make a plan to pay off debt, open a Roth IRA and set up automatic payment.Week 4 Conscious Spending Create a Conscious Spending Plan, track spending, and cut in the right places.Week 5 Automatic Money Flows List and link accounts, then set up an Automatic Money Flow to automatically fund the 4 categories of your Conscious Spending Plan.Week 6 Investing Choices Figure out your investing style, research investments, and buy funds.The book gives a fairly in depth explanation of the concepts and fundamentals of personal finance, but also contains plenty of examples of actual bank accounts and funds There are many references to the 2008 recession and other current events, so those parts of the book won t age well.This is my new 1 recommendation for anyone seeking personal finance advice.NotesPersonal Finance LadderRung 1 invest enough in 401 k to get company matchRung 2 pay off debtRung 3 invest as much as possible in Roth IRARung 4 put into 401 k , as much as possibleRung 5 invest in non retirement taxable accountConscious Spending Plan recommended percentages save and invest if possible 50 60% on fixed costs10% on long term investments5 10% on savings goals20 35% on guilt free spendingInvestingUse target date funds or index funds.Invest aggressively in retirement accounts, since retirement is so distant.Recommended financial institutions Vanguard, T Rowe, SchwabRebalance every 12 18 months by investing in underperforming assets not selling outperforming assets.Hold tax inefficient income generating assets like bonds in tax advantaged accounts.Hold tax efficient assets like index funds in taxable accounts.Choose funds based on 1 expense ratio2 asset allocation3 10 15 year returnModel your portfolio after David Swenson s Yale Endowment portfolio 30% US stocks15% developed international stocks5% emerging market stocks20% REITs15% government bonds15% TIPSBuying a houseHouses are a poor investment compared to stocks they ve historically returned 0% after inflation.Before buying a house, determine the total monthly payment including mortgage, taxes, insurance, and maintenance It should be less than 30% of your gross monthly income.The total house price should be less than 3 times your annual gross income.Buy a house only if you can live in it for 10 years.Make a 20% down payment and get a 30 year fixed rate mortgage.Additional notesUse savings for goals less than 5 years away.Set your accounts for automatic deferrals, transfers, and payments to automatically direct money into retirement accounts, savings, bills, and a spending allowance.Negotiate a higher total compensation salary plus benefits by researching compensation for comparable jobs and proving the value you bring to the company.


  2. says:

    I tried summarizing the main things to learn at ve pasted the most important bits below, but for a lot 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 ProgramWeek 1 Optimize your credit cards and use them responsibly to build good credit.Week 2 Set up no fee, high interest bank accounts.Week 3 Open a 401 k and Roth IRA.Week 4 Figure out how much you re spending and where, then create a Conscious Spending Plan and optimize your spending to make your money go where you want it to go.Week 5 Automate your new financial infrastructure so bills are automatically paid and money is automatically saved and invested.Week 6 Learn how to get the most out of the market with very little work It s not about picking stocks, it s about investing in index funds either a lifecycle fund or a set of index funds that fits your ideal asset allocation.The Ladder of Personal Finance A summary of prioritized steps on how to invest If your employer offers a 401 k match, invest to take full advantage of it but not It s free money Pay off your credit card and any other debt Pay off the debt with the highest APR first Note that for low interest debt, instead of paying it off beyond the minimum, you may want to invest instead i.e the following ladder rungs Open up a Roth IRA and contribute as much as possible if your income is 101,000 or less in 2009, this is 5000 Continue contributing to your 401 k The current limit is 15,500 Open a regular nonretirement account and put as much as possible there Also consider investing in yourself.


  3. says:

    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 card purchases.I would read this book along with Dave Ramsey s The Total Money Makeover to compare the two With both in hand, you should get started off on the right path.A few notes while I read this book Ramit talks specifically to people who think they need never to borrow money His response Maybe you don t today, but in three or four years, you might need to start thinking about a wedding or a house What about cars Vacations Those ridiculous baby cribs that cost 7,000 And it goes on and on Please don t scoff or dismiss what you just read One of the key differences between rich people and everyone else is that rich people plan before they need to plan My response Really You need to borrow money to go on vacation To get married To buy a baby crib A car even Maybe a house, but none of the others Ramit did get one thing right, rich people DO plan before they need to plan by saving cash, by planning out the purchase of a car by saving a certain amount monthly, by saying they want to go to a cruise next year and it costing 1200, so they save 100 month to do it That baby crib you know at least 8 9 months in advance you will be needing one, and I don t know ANYBODY who spends 7,000 on a baby crib, especially those who DON T HAVE THE MONEY Wow Sorry about that I had to go on a rant Ramit argues that credit is king, but it doesn t do anything for you when you re going into debt to go on vacation and paying interest back at 7% because of your good credit as opposed to 14% Why go in the first place Ramit enlightened me to something I really didn t know how to do before I knew it was possible, but didn t know it was doable To opt out of all your pre approved credit card offers you receive in the mail, go here and put in your information Right when I read this, I did it immediately One thing I absolutely love about this book is to simply get started Just do SOMETHING rather than be paralyzed by not knowing what to do and how to do it You ll learn over time Start investing TODAY Start paying off your debt with whatever you ve got TODAY Conscious spending This is exactly what my budget has become Yes, I still know exactly what I m spending money on each month so that we can plan for the future and have those needs taken care of tuition, books, summer trips, etc Budgeting conscious spending is simply to stop spending money on something you don t care too much about and spending LOTS of money on the things you love If you love eating out, there s no reason not to spend money on that as long as you don t go into debt for it and have already saved and invested Investing chapters lead to sound advice for those who want to invest, but don t have the time to look at all of the many different mutual funds, index funds and stocks It helped me understand the difference between mutual funds, index funds, and LIFECYCLE or TARGET RETIREMENT accounts Good advice for basics.


  4. says:

    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 order to do it in, and which vendors to use This book is supremely actionable, and the only reason you wouldn t get your finances in order after reading it is because you simply don t give a shit, not because you don t know what to do.The investment portion of this book is VERY 101 maybe 100 If you re at the point where your credit, expenses, etc., are in order and you want to think about making your money work for you, I d recommend Tony Robbins Money Master the Game It contains 10 interviews with the leading minds in finance and investing, giving much better coverage of a complex subject and makes cases for various portfolio strategies.All of this said, I did organize my finances according to Ramit s advice, so I have to thank him give him credit for that It feels like a major adult accomplishment and weight off my shoulders.I wish someone would write a better written version of the same information so I can buy lots of copies and donate them to high schools This is simultaneously required reading and utter dog shit, irony be damned.


  5. says:

    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 guy His tone sounds like a petulant spoiled kid at times He talks a lot about hot girls and going out to bars Granted, I m married, but I am in the demographic he lists for this book, and I found it hard to take serious advice from someone who literally says that he HATES people who make money mistakes And who talks a lot about hot girls The book just tries too hard to be hip, and there is surprisingly little in this book about student loans, considering it is aimed at 20 and 30 somethings.Suze Orman s book for the Young, Fabulous Broke gave me a lot info without all the hot lady references.


  6. says:

    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 paragraph you ve begun or remembering to go back when you ve finished reading it.Once again, you should read this book It s very straightforward and practical, and removes much of the mystery around saving and investing I wish I had read it younger and put it into practice sooner.


  7. says:

    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 broken down into the simplest possible steps Even if you re the laziest person on the planet, taking 1 action day will put you on the path to a wealthy retirement in about 6 weeks.There are many, many numbers, all used to illustrate the difference between not taking action, taking some action, and taking maximum action Some of these differences are measured in hundreds of thousands of dollars Each action required on your part rarely requires than a few hours one evening Once And then you never have to worry about it again.This book will pay for itself many, many times over in the first month after you read it, if not the first week It s your money, no one else s, so why the hell haven t you read it yet


  8. says:

    The financial advice is mostly sound, but the tone and attitude is pretty annoying it s aimed toward adults with the emotional maturity of 13 year olds and features lots of unfunny jokes about hot blondes Do Not Want.


  9. says:

    Deficient in style, form, prose, and depth the nerdy dude bro esque humor falls flat and tends to sound either sexist or racist but the dated content could still prove useful to young people who know next to nothing about getting their finances in working order Perhaps the strongest aspect of this book is the actionability of the content improving credit scores, setting up high interest savings accounts, investing in 401K and ROTH IRAs, etc Great primer for the late teen or early 20 something.


  10. says:

    I m not the target market for this not millennial, and not into getting barked at sarcastically , but I still learned some practical new things.I do highly recommend for anyone under 30 it has all the basic important money knowledge, plus hacks, specificity, and clear explanations.


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I Will Teach You To Be Rich download I Will Teach You To Be Rich, read online I Will Teach You To Be Rich, kindle ebook I Will Teach You To Be Rich, I Will Teach You To Be Rich 98a5622fb3cf At Last, For A Generation That S Materially Ambitious Yet Financially Clueless Comes I Will Teach You To Be Rich, Ramit Sethi S Week Personal Finance Program For To 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, Budgeting, And Investing And The Wealth Building Ideas Of Personal EntrepreneurshipSethi Covers How To Save Time By Not Wasting It Managing Money The Guns And Cars Myth Of Credit Cards How To Negotiate Like An Indian The Conversation Begins With No Why Budgeting Doesn T Have To Suck How To Get Things Rolling For Real With Only What Most People Don T Understand About Taxes How To Get A CEO To Take You Out To Lunch How To Avoid The Super Mario Brothers Trap By Making Your Savings Work Harder Than You Do The Difference Between Cheap And Frugal The Hidden Relationship Between Money And Food Not To Mention His First Key Lesson Getting Started Is Important Than Being The Smartest Person In The Room Integrated With His Website, Where Readers Can Use Interactive Charts, Follow Up On The Latest Information, And Join The Community, It Is A Hip Blueprint To Building Wealth And Financial SecurityEvery Month Unique Visitors Come To Ramit Sethi S Website, Iwillteachyoutoberich, To Discover The Path To Financial Freedom They Praise Him Thoughtfully Your Site Summarizes Everything I Want With My Life To Be Rich In Finances, Rich In Experience, Rich In Family Blessings, Dan Esparza And Effusively Dude, You Rock I Love This Site Richard Wu The Press Has Caught On, Too Ramit Sethi Is A Rising Star In The World Of Personal Finance Writing One Singularly Attuned To The Sensibilities Of His Generation His Style Is Part Frat Boy And Part Silicon Valley Geek, With A Little Bit Of San Francisco Hipster Thrown In San Francisco Chronicle His Writing Is Smart, His Voice Is Full Of Attitude, And His Ideas Are Uncommonly Sound And Refreshingly Hype Free