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I Will Teach You To Be Rich (Paperback)


by Ramit Sethi (Author)

Product Description

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, budgeting, and investing—and the wealth-building ideas of personal entrepreneurship.

Sethi 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 $20; 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 more 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 security.

Every month, 175,000 unique visitors come to Ramit Sethi's website, Iwillteachyoutoberich.com, 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.

From the Back Cover
You don't have to be perfect to be rich. Or the smartest person in the room. Or a type-A personality. In fact, with Ramit Sethi's six-week program to financial independence, you can start with any amount of money, do just 85 percent of what he suggests, and succeed brilliantly through good times and bad.

As irreverent and entertaining as he is practical and wise, Sethi explains how to beat banks and credit cards at the fee game, automate your cash flow, negotiate for a raise, manage student loans, and enjoy your lattes and Manolo Blahniks by practicing conscious spending. It's how to master your money with the least amount of effort—and then get on with your life.

Not your parents' money management book, March 23, 2009
By Susan Roberts


First, here's what this book is not: It's not your parents' money management and investing book, although as a parent I wish I had done in my twenties what Ramit Sethi tells the twenty-somethings they should be doing right now.

Ramit starts with the premise that most people are so overwhelmed by the sheer amount of financial information available that they just shut down and do nothing. So Ramit tells you exactly what to do with your money and why. Want to know whether it's smarter to pay extra on your student loans or put that money into your 401(k) instead? Ramit will tell you. Want to know some specific financial companies that offer the low-cost index funds you should invest in through your Roth IRA? Ramit will tell you. Do you not even know what the heck an index fund is? Ramit will tell you!

Ramit also tells the truth about brown bagging your lunch and curbing your latte habit; and the truth is that these actions on their own are virtually pointless. Instead, you should go after the big wins, like getting the lowest interest rate and the best price on your next car because you have impeccable credit and negotiated "like an Indian" (negotiation scripts included).

Ramit maps out exactly how to get from where you are now to where you want to be financially, including how to create a personal money management system that practically manages itself. Ramit's system starts with a no-fee checking account and an online high-interest savings account. (He even tells you which online bank he uses.) He then walks you through setting up automatic bill payments and regularly scheduled transfers to your investment accounts. Throughout, he includes easy-to-understand charts, as well as short pieces by other personal finance bloggers.

I wish I could quote some of the passages that I found especially useful or entertaining--Ramit writes with an appealing, if oddball, humor--but I have already mailed my copy of the book to my 24-year-old son, who called me last night to tell me it never would've occurred to him to ask his bank to waive an overdraft fee. (That gem is in chapter 2, I think.)

Thank you, Ramit! I hope this enthusiastic review by an "old person" will not stop the young people from buying your book!

The New "Random Walk" - For those who'd rather be rich then sexy, March 23, 2009
By C. J. Schaefer (Enid, OK USA)


"Don't let the breezy, irreverent style of this book fool you. It contains serious advice on personal-finance decisions from budgeting and savings to spending and investing." - Burton G. Malkiel, author of "A Random Walk Down Wall Street"

For several years, through his blog, Ramit Sethi has been turning the personal finance world on it's head, defying the advice of many financial "experts" and making the topics of money and investing accessible and relevant for the average twenty and thirty-something.

Now, in his first book he draws from some of his best content and goes many steps further, showing us all that personal finance isn't some magic formula to be unlocked, but rather a series of small, conscious decisions that don't require an MBA or even a financial adviser (gasp).

Sethi explains, "Most of us fall into one of two camps as regards our money: We either ignore it and feel guilty, or we obsess over financial details by arguing interest rates and geopolitical risks without taking action. Both options yield the same results - none. The truth is that the vast majority of young people don't need a financial adviser to help them get rich. We need to set up accounts at a reliable no-fee bank and then automate savings and bill payment. We need to know about a few things to invest in, and then we need to let our money grow for thirty years."

Sethi takes the reader through six-weeks to financial literacy, covering:

1) Optimizing Credit Cards
2) Setting up no-fee, high-interest bank accounts
3) Opening investment accounts
4) Figuring out how much you're spending and developing a conscious spending plan
5) automating your new financial infrastructure
6) why investing isn't the same as picking stocks

Throughout the entire book Sethi offers solid financial lessons in a clear and actionable way. He doesn't just say, "Set up an investment account," he shows exactly how to do it, what questions to ask, various options to choose from and gives the reader the necessary contact information for various investment companies.

Since majoring in business management in college and focusing much of my time on the world of personal finance, I have read several books on the subject, some good, most terrible. Many of my friends would come to me for advice on various subjects and I would have to pull on lessons learned from multiple sources. Now, I can just hand them "I Will Teach You to Be Rich" and know that they will be receiving everything they need, all in one place, for a life of financial success.

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