I Will Teach You To Be Rich
Format: PDF / Kindle (mobi) / ePub
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.
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ING Direct and Emigrant Direct because they offer simple banking with great rewards and almost no downsides. Most important, they don’t try to nickel-and-dime you with fee after fee. These online banks have realized that by eliminating overhead, they can offer dramatically higher interest rates and better customer service than the traditional Big Banks. Online banks have no branches and no tellers and spend very little on marketing, which allows them to accept lower profit margins than
should be able to tell which banks are trustworthy and which are not by seeing how straightforward they are with their accounts and fees. Your bank shouldn’t nickel-and-dime you through minimums and fees. It should have a website with clear descriptions of different services, an easy setup process, and 24/7 customer service available by phone. Another thing: Ask them if they send you promotional material every damn week. I don’t want more junk mail! Stop sending crap! A couple of years ago, I
past month to keep things simple. The easiest way to get an idea of what you’ve spent where is to look at your credit card and banking statements or, if you’re old-fashioned, review your receipts. Sure, you may not capture every last expense doing it this way, but it’s probably good enough. Finally, once you’ve gotten all your expenses filled in, add 15 percent for expenditures you haven’t counted yet. Yes, really. For example, you probably didn’t capture “car repair,” which can cost $400 each
allocation to reduce risk and get a fairly predictable return on investments. Thirty years from now, you’re going to need to invest very differently from how you do today. That’s just natural: You invest much more aggressively in your twenties than in your fifties, as you get older and tell long-winded stories about yourself. So although it seems sexy to pull out a pipe and phone in your favorite stock choices to your broker, the real work in investing comes with creating an investment plan
fraction of what it would have cost in the United States. In Chapter 4, I encouraged you to pick the one or two biggest problem areas in your spending and address them. Your wedding is no different: You want to look at the biggest expenses with a fine-toothed comb. Pick the biggest two or three expenditures and relentlessly cut their costs. Your honeymoon is going to cost $5,000? See if you can get someone to give you frequent flier miles as a wedding gift, check for travel deals online, enlist