I Will Teach You to be Rich: Book Review
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This book wastes no time giving you ready-made, easy to follow strategies for living “your rich life” as the author Ramit Sethi refers to it. “I Will Teach You to be Rich” (IWT) does not ask you to drop all that you are doing and save 90% in the name of financial freedom. If this fast-track to riches interests you check out the FIRE movement(which is addressed in IWT)
For everyone else wanting a more practical plan that is easy to stick to, this is the book for you. This book covers everything from how to use your credit cards, why you should ditch your bank to the best no-nonsense investment vehicles.
“I Will Teach You to be Rich” is also great for anyone who enjoys reading information via blogs (hopefully you as you are reading this!). This is no coincidence because Ramit runs a hugely successful blog on personal finance. This book reads like his ‘greatest hits’ album in book form. This makes IWT easy to consume for even the most book-averse individual.
What you will find in this book and nowhere else:
- Exactly how to optimize credit cards + specific credit cards used by Ramit himself
- Why you should ditch your bank and what banks you are better off with
- How to ‘spend consciously’ in place of strict budgets
- Step-by-Step help in automating your accounts to work for you (we love this)
- How to save on big-ticket items instead of stressing over small savings
- Humor! Ramit’s humor will help to blunt the boredom that may come with reading up on personal finance
What you won’t find in this book:
- Investment Theory
- complex investments: how to trade options and different stock purchasing theories etc
- strict budgets
Will “I Will Teach You to be Rich” teach you to be rich? If you follow Ramit’s advice diligently, we think you have a pretty good shot at it!
This book focuses on the easy to follow solutions about personal finance in a broad context. If you are looking for more in-depth information on investments themselves we recommend looking here.